Common use of The Cap Contract Clause in Contracts

The Cap Contract. The Seller shall assign all of its right, title and interest in and to the interest rate cap transaction evidenced by the Amended Confirmation And Agreement to, and shall cause all of its obligations in respect of such transaction to be assumed by, the Trustee on behalf of the Trust Fund, on the terms and conditions set forth in the Cap Contract Assignment Agreement. The Cap Contract will be an asset of the Trust Fund but will not be an asset of any REMIC. The Master Servicer, on behalf of the Trustee, shall deposit any amounts received from time to time with respect to the Cap Contract into the Distribution Account. The Master Servicer, on behalf of the Trustee, shall prepare and deliver any notices required to be delivered under the Cap Contract. The Master Servicer, on behalf of the Trustee, shall act as calculation agent and/or shall terminate the Cap Contract, in each case upon the occurrence of certain events of default or termination events to the extent specified thereunder. Upon any such termination, the Cap Contract Counterparty will be obligated to pay the Trustee or the Master Servicer for the benefit of the Trust Fund an amount in respect of such termination. Any amounts received by the Trustee or the Master Servicer for the benefit of the Trust Fund, as the case may be, in respect of such termination shall be deposited and held in the Distribution Account and deposited in the Carryover Reserve Fund as necessary to pay Net Rate Carryover for the Certificates as provided in Section 4.04(c) on Distribution Dates following such termination to and including the Cap Contract Termination Date. On the Cap Contract Termination Date, after all other distributions on such date, if any such amounts in respect of early termination remain in the Distribution Account, such amounts shall be distributed by the Trustee to the Seller.

The Cap Contract. The Seller shall assign all of its right, title and interest in and to the interest rate cap transaction evidenced by the Amended Confirmation And Agreement to, and shall cause all of its obligations in respect of such transaction to be assumed by, the Trustee on behalf of the Trust Fund, on the terms and conditions set forth in the Cap Contract Assignment Agreement. The Cap Contract will be an asset of the Trust Fund but will not be an asset of any REMIC. The Master Servicer, on behalf of the Trustee, shall deposit any amounts received from time to time with respect to the Cap Contract into the Distribution Account. The Master Servicer, on behalf of the Trustee, shall prepare and deliver any notices required to be delivered under the Cap Contract. The Master Servicer, on behalf of the Trustee, shall act as calculation agent and/or shall terminate the Cap Contract, in each case upon the occurrence of certain events of default or termination events to the extent specified thereunder. Upon any such termination, the Cap Contract Counterparty will be obligated to pay the Trustee or the Master Servicer for the benefit of the Trust Fund an amount in respect of such termination. Any amounts received by the Trustee or the Master Servicer for the benefit of the Trust Fund, as the case may be, in respect of such termination shall be deposited and held in the Distribution Account and deposited in the Carryover Reserve Fund as necessary to pay Group 1 Net Rate Carryover for the Class BF-2 Certificates as provided in Section 4.04(c4.04(a) on Distribution Dates following such termination to and including the Cap Contract Termination Date. On the Cap Contract Termination Date, after all other distributions on such date, if any such amounts in respect of early termination remain in the Distribution Account, such amounts shall be distributed by the Trustee to the Seller.

The Cap Contract. The Seller shall assign all of its right, title and interest in and to the interest rate cap transaction evidenced by the Amended Confirmation And Agreement to, and shall cause all of its obligations in respect of such transaction to be assumed by, the Trustee on behalf of the Trust Fund, on the terms and conditions set forth in the Cap Contract Assignment Agreement. The Cap Contract will be an asset of the Trust Fund but will not be an asset of any REMIC. The Master Servicer, on behalf of the Trustee, shall deposit any amounts received from time to time with respect to the Cap Contract into the Distribution Account. The Master Servicer, on behalf of the Trustee, shall prepare and deliver any notices required to be delivered under the Cap Contract. The Master Servicer, on behalf of the Trustee, shall act as calculation agent and/or shall terminate the Cap Contract, in each case upon the occurrence of certain events of default or termination events to the extent specified thereunder. Upon any such termination, the Cap Contract Counterparty will be obligated to pay the Trustee or the Master Servicer for the benefit of the Trust Fund an amount in respect of such termination. Any amounts received by the Trustee or the Master Servicer for the benefit of the Trust Fund, as the case may be, in respect of such termination shall be deposited and held in the Distribution Account and deposited in the Carryover Reserve Fund as necessary to pay Net Rate Carryover for the Certificates as provided in Section 4.04(c4.04(a) on Distribution Dates following such termination to and including the Cap Contract Termination Date. On the Cap Contract Termination Date, after all other distributions on such date, if any such amounts in respect of early termination remain in the Distribution Account, such amounts shall be distributed by the Trustee to the Seller.

The Cap Contract. The Seller shall assign all of its right, title and interest in and to the interest rate cap transaction evidenced by the Amended Confirmation And Agreement to, and shall cause all of its obligations in respect of such transaction to be assumed by, the Trustee on behalf of the Trust Fund, on the terms and conditions set forth in the Cap Contract Assignment Agreement. The Cap Contract will be an asset of the Trust Fund but will not be an asset of any REMIC. The Master Servicer, on behalf of the Trustee, shall deposit any amounts received from time to time with respect to the Cap Contract into the Distribution Account. The Master Servicer, on behalf of the Trustee, shall prepare and deliver any notices required to be delivered under the Cap Contract. The Master Servicer, on behalf of the Trustee, shall act as calculation agent and/or shall terminate the Cap Contract, in each case upon the occurrence of certain events of default or termination events to the extent specified thereunder. Upon any such termination, the Cap Contract Counterparty will be obligated to pay the Trustee or the Master Servicer for the benefit of the Trust Fund an amount in respect of such termination. Any amounts received by the Trustee or the Master Servicer for the benefit of the Trust Fund, as the case may be, in respect of such termination shall be deposited and held in the Distribution Account and deposited in the Carryover Reserve Fund as necessary to pay Net Rate Carryover for the Certificates as provided in Section 4.04(c4.04(a) on Distribution Dates following such termination to and including the Cap Contract Termination Date. On the Cap Contract Termination Date, after all other distributions on such date, if any such amounts in respect of early termination remain in the Distribution Account, such amounts shall be distributed by the Trustee to the Seller.

The Cap Contract. The Seller shall assign all of its right, title and interest in and to the interest rate cap transaction transactions evidenced by the Amended Confirmation And Agreement Cap Contract to, and shall cause all of its obligations in respect of each such transaction to be assumed by, the Trustee on behalf of the Trust Fund, on the terms and conditions set forth in the Cap Contract Assignment Agreement. The Cap Contract will be an asset of the Trust Fund but will not be an asset of any REMIC. The Master Servicer, on behalf of the Trustee, shall deposit any amounts received from time to time with respect to the Cap Contract into the Distribution Account. The Master Servicer, on behalf of the Trustee, shall prepare and deliver any notices required to be delivered under the Cap Contract. The Master Servicer, on behalf of the Trustee, shall act as calculation agent and/or shall terminate the Cap Contract, in each case upon the occurrence of certain events of default or termination events to the extent specified thereunder. Upon any such termination, the Cap Contract Counterparty will be obligated to pay the Trustee or the Master Servicer for the benefit of the Trust Fund an amount in respect of such termination. Any amounts received by the Trustee or the Master Servicer for the benefit of the Trust Fund, as the case may be, in respect of such termination shall be deposited and held in the Distribution Account and deposited in the Carryover Reserve Fund as necessary to pay Net Rate Carryover for the Certificates (by deposit of the amount of any such Net Rate Carryover in the Carryover Reserve Fund for payment to the related Certificateholders) as provided in Section 4.04(c4.04(a) on Distribution Dates following such termination to and including the Cap Contract Termination Date. On the Cap Contract Termination Date, after all other distributions on such date, if any such amounts in respect of early termination remain in the Distribution AccountCarryover Reserve Fund, such amounts shall be distributed by the Trustee to the SellerClass C Certificateholder.

The Cap Contract. The Seller shall assign all of its right, title and interest in and to the interest rate cap transaction evidenced by the Amended Confirmation And Agreement Cap Contract to, and shall cause all of its obligations in respect of such transaction to be assumed by, the Trustee on behalf of the Trust Fund, on the terms and conditions set forth in the Cap Contract Assignment Agreement. The Cap Contract will be an asset assets of the Trust Fund but will not be an asset of any REMIC. The Master Servicer, on behalf of the Trustee, shall deposit any amounts received from time to time with respect to the Cap Contract into the Distribution AccountCarryover Reserve Fund. The Master Servicer, on behalf of the Trustee, shall prepare and deliver any notices required to be delivered under the Cap Contract. The Master Servicer, on behalf of the Trustee, shall act as calculation agent and/or shall terminate the Cap Contract, in each case upon the occurrence of certain events of default or termination events to the extent specified thereunder. Upon any such termination, the Cap Contract Counterparty will be obligated to pay the Trustee or the Master Servicer for the benefit of the Trust Fund an amount in respect of such termination. Any amounts received by the Trustee or the Master Servicer for the benefit of the Trust Fund, as the case may be, in respect of such termination shall be deposited and held in the Distribution Account and deposited in the Carryover Reserve Fund as necessary to pay Net Rate Carryover for the applicable Classes of Certificates as provided in Section 4.04(c4.04(b) on the Distribution Dates following such termination to and including the Cap Contract Termination Date, but shall not be available for distribution to the Class C Certificates pursuant to Section 4.08(c) or to the Seller pursuant to Section 4.08(c) until such Cap Contract Termination Date. On the Cap Contract Termination DateDate for the Cap Contract, after all other distributions on such date, if any such amounts in respect of early termination of the Cap Contract remain in the Distribution AccountCarryover Reserve Fund, such amounts shall be distributed by the Trustee to the SellerClass C Certificates.

The Cap Contract. The Seller shall assign all of its right, title and interest in and to the interest rate cap transaction transactions evidenced by the Amended Confirmation And Agreement Cap Contract to, and shall cause all of its obligations in respect of each such transaction to be assumed by, the Trustee on behalf of the Trust Fund, on the terms and conditions set forth in the Cap Contract Assignment Agreement. The Cap Contract will be an asset of the Trust Fund but will not be an asset of any REMIC. The Master Servicer, on behalf of the Trustee, shall deposit any amounts received from time to time with respect to the Cap Contract into the Distribution AccountCarryover Reserve Fund. The Master Servicer, on behalf of the Trustee, shall prepare and deliver any notices required to be delivered under the Cap Contract. The Master Servicer, on behalf of the Trustee, shall act as calculation agent and/or shall terminate the Cap Contract, in each case upon the occurrence of certain events of default or termination events to the extent specified thereunder. Upon any such termination, the Cap Contract Counterparty will be obligated to pay the Trustee or the Master Servicer for the benefit of the Trust Fund an amount in respect of such termination. Any amounts received by the Trustee or the Master Servicer for the benefit of the Trust Fund, as the case may be, in respect of such termination shall be deposited and held in the Distribution Account and deposited in the Carryover Reserve Fund as necessary to pay Net Rate Carryover for the Certificates (by deposit of the amount of any such Net Rate Carryover in the Carryover Reserve Fund for payment to the related Certificateholders) as provided in Section 4.04(c4.04(a) on Distribution Dates following such termination to and including the Cap Contract Termination Date. On the Cap Contract Termination Date, after all other distributions on such date, if any such amounts in respect of early termination remain in the Distribution AccountCarryover Reserve Fund, such amounts shall be distributed by the Trustee to the SellerClass C Certificateholder.

The Cap Contract. The Seller shall assign all of its right, title and interest in and to the interest rate cap transaction transactions evidenced by by, respectively, the Amended Confirmation And Agreement 1 and the Confirmation And Agreement 2 to, and shall cause all of its obligations in respect of each such transaction to be assumed by, the Trustee on behalf of the Trust Fund, on the terms and conditions set forth in the Cap Contract Assignment Agreement. The Cap Contract will be an asset of the Trust Fund but will not be an asset of any REMIC. The Master Servicer, on behalf of the Trustee, shall deposit any amounts received from time to time with respect to the Cap Contract into the Distribution Account. The Master Servicer, on behalf of the Trustee, shall prepare and deliver any notices required to be delivered under the Cap Contract. The Master Servicer, on behalf of the Trustee, shall act as calculation agent and/or shall terminate the Cap Contract, in each case upon the occurrence of certain events of default or termination events to the extent specified thereunder. Upon any such termination, the Cap Contract Counterparty will be obligated to pay the Trustee or the Master Servicer for the benefit of the Trust Fund an amount in respect of such termination. Any amounts received by the Trustee or the Master Servicer for the benefit of the Trust Fund, as the case may be, in respect of such termination shall be deposited and held in the Distribution Account and deposited in the Carryover Reserve Fund as necessary to pay Net Rate Carryover for the Certificates (by deposit of the amount of any such Net Rate Carryover in the Carryover Reserve Fund for payment to the related Certificateholders) as provided in Section 4.04(c4.04(a) on Distribution Dates following such termination to and including the Cap Contract Termination Date. On the Cap Contract Termination Date, after all other distributions on such date, if any such amounts in respect of early termination remain in the Distribution AccountCarryover Reserve Fund, such amounts shall be distributed by the Trustee to the SellerClass X Certificateholder.