Supplemental Interest Trust. (a) A separate trust is hereby established (the “Supplemental Interest Trust”), the corpus of which shall be held by the Securities Administrator, in trust, for the benefit of the holders of the Certificates. The Trustee shall have no duty or responsibility with respect to the Supplemental Interest Trust and shall have no liability to the Certificateholders or Swap Counterparty with respect to the Supplemental Interest Trust or the funds held in or distributed from the Supplemental Interest Account. On the Closing Date, the Securities Administrator shall establish and maintain in its name, a separate account for the benefit of the holders of the Certificates (the “Supplemental Interest Account”), into which the Depositor shall initially deposit $1,000. The Supplemental Interest Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Securities Administrator held pursuant to this Agreement.
(b) On each Distribution Date, prior to any distribution to any Certificate, the Securities Administrator shall deposit into the Supplemental Interest Account the amount withdrawn from the Distribution Account pursuant to Section 3.11(b)(iii). The Securities Administrator shall deposit into the Supplemental Interest Account any amounts required to be paid to the Swap Provider pursuant to the preceding sentence and shall distribute from the Supplemental Interest Account any such amounts to the Swap Provider as required by Section 4.10 on each Swap Payment Date. The Securities Administrator shall deposit into the Supplemental Interest Account any Net Swap Payments received from the Swap Provider and shall distribute from the Supplemental Interest Account any such amounts to holders of the Certificates on each Distribution Date pursuant to Section 4.10.
(c) Funds in the Supplemental Interest Account shall remain uninvested. The Class C Certificates shall evidence ownership of the Supplemental Interest Trust for federal income tax purposes and the Holder thereof shall direct the Securities Administrator, in writing, as to investment of amounts on deposit therein.
(d) Upon termination of the Trust Fund, any amounts remaining in the Supplemental Interest Account after payment of amounts owing to the Swap Provider shall be distributed pursuant to the priorities set forth in Section 4.10.
(e) It is the intention of the parties h...
Supplemental Interest Trust. Tax Treatment of Swap Payments and Swap Termination Payments.
Supplemental Interest Trust. A separate trust is hereby established (the “Supplemental Interest Trust”), the corpus of which shall be held by the Supplemental Interest Trust Trustee in trust for the benefit of the holders of the Senior Certificates and the Mezzanine Certificates. The Supplemental Interest Trust will not be a part of any REMIC created hereby.
Supplemental Interest Trust. The Trustee is hereby directed by the Depositor to accept the Class 1-A1 Cap Agreement on behalf of a trust, separate from the Trust Fund, for the benefit of the Class 1-A1 and Class X Certificateholders in the form presented to it by the Depositor and shall have no responsibility for the contents, adequacy or sufficiency of the Class 1-A1 Cap Agreement including without limitation, the representations and warranties contained therein.
Supplemental Interest Trust. The corpus of a trust created pursuant to Section 3.21 of this Agreement and designated as the “Supplemental Interest Trust,” consisting of the Swap Agreement, the Yield Maintenance Agreement, the Derivative Administration Agreement and the Derivative Account. For the avoidance of doubt, the Supplemental Interest Trust, the Swap Agreement, the Yield Maintenance Agreement, the Derivative Account and the Derivative Administration Agreement do not constitute parts of the Trust Fund or any REMIC. Supplemental Interest Trust Trustee: LaSalle Bank National Association, a national banking association not in its individual capacity but solely in its capacity as supplemental interest trust trustee under the Supplemental Interest Trust, Derivative Administration Agreement, Swap Agreement and the Yield Maintenance Agreement, and any successor thereto, and any corporation or national banking association resulting from or surviving any consolidation or merger to which it or its successors may be a party and any successor supplemental interest trust trustee as may from time to time be serving as successor supplemental interest trust trustee.
Supplemental Interest Trust. (a) A separate trust is hereby established (the “Supplemental Interest Trust”), the corpus of which shall be held by the Trustee, in trust, for the benefit of the holders of the Group 1 Certificates. The Trustee, as trustee of the Supplemental Interest Trust, shall establish an account (the “Group 1 Swap Account”), into which LBH shall initially deposit $1,000 on the Closing Date. The Group 1 Swap Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee held pursuant to this Agreement.
(b) The Trustee, as trustee of the Supplemental Interest Trust, shall establish an account (the “Group 1 Cap Account”), into which LBH shall initially deposit $1,000. The Group 1 Cap Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other monies, including, without limitation, other monies of the Trustee held pursuant to this Agreement.
(c) The Trustee, on behalf of the Supplemental Interest Trust, shall establish an account (the “Group 1 Collateral Account”) into which funds shall be deposited pursuant to Section 5.07(k). The Group 1 Collateral Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other monies, including, without limitation, other monies of the Trustee held pursuant to this Agreement.
Supplemental Interest Trust. On the Closing Date, there is hereby established a separate trust (the "Supplemental Interest Trust"), the assets of which shall consist of the Supplemental Interest Trustee's rights and obligations under the Swap Contract and that will be treated as a "grantor trust" for federal income tax purposes. The Supplemental Interest Trust shall be maintained by the Supplemental Interest Trustee. Article Five
Supplemental Interest Trust. 63 Section 4.06 Trust's Obligations under the Interest Rate Swap Agreement; Replacement and Termination of the Interest Rate Swap Agreement...................................................................64
Supplemental Interest Trust. Not Applicable. Swap Account: Not Applicable. Swap Agreement: Not Applicable. Swap Counterparty: Not Applicable. Swap Payment Allocation: Not Applicable. Swap Payment Rate: Not Applicable. Swap Termination Date: Not Applicable.
Supplemental Interest Trust. On the Closing Date, there is hereby established a separate trust (the “Supplemental Interest Trust”), which shall be maintained by the Supplemental Interest Trustee, who initially, shall be the Trustee. The assets of the Supplemental Interest Trust shall consist of the Supplemental Interest Trustee’s rights and obligations under the Cap Contract and the assets in the Cap Contract Reserve Fund. The Supplemental Interest Trustee shall hold the assets of the Supplemental interest Trust in trust for the benefit of the Holders of the Certificates. The assets held in the Supplemental interest Trust shall not constitute assets of the Trust Fund or any REMIC created hereunder.
