Common use of Termination of Trust Fund Clause in Contracts

Termination of Trust Fund. The Trust, Supplemental Interest Trust or Trust Fund shall be terminated pursuant to any provision of the Pooling and Servicing Agreement (including, without limitation, by completion of a successful auction termination or by exercise of the option to purchase and giving of notice under Sections 10.01 of the Pooling and Servicing Agreement). The Early Termination Date with respect to such Additional Termination Event shall be the Distribution Date upon which the Trust and the Supplemental Interest Trust or Trust Fund is terminated and final payment is made in respect of the Certificates. Each of BNY and the Counterparty may designate an Early Termination Date in respect of this Additional Termination Event. The Counterparty shall be the sole Affected Party.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch First Franklin Mortgage Loan Trust, Series 2007-3), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2007-He3), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust, Series 2007-Ff1)

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Termination of Trust Fund. The Trust, Supplemental Interest Trust or Trust Fund shall be terminated pursuant to any provision of the Pooling and Servicing Agreement (including, without limitation, by completion of a successful auction termination or by exercise of the option to purchase and giving of notice under Sections 10.01 9.1 and 9.2 of the Pooling and Servicing Agreement). The Early Termination Date with respect to such Additional Termination Event shall be the Distribution Date upon which the Trust and the Supplemental Interest Trust or Trust Fund is terminated and final payment is made in respect of the Certificates. Each Counterparty shall be the sole Affected Party. However, each of BNY and the Counterparty may designate an Early Termination Date in respect of this Additional Termination Event. The Counterparty shall be the sole Affected Party.

Appears in 4 contracts

Samples: Rate Floor Transaction (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Oa2), Rate Cap Transaction (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Oa2), Rate Floor Transaction (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Oa3 /DE)

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