Common use of The Certificate Account Clause in Contracts

The Certificate Account. (a) The Administrator, for the benefit of the Certificateholders, shall establish and maintain in the name of the Owner Trustee on behalf of the Certificateholders an account (the “Certificate Account”) entitled “Certificate Account, Wilmington Trust Company, as Owner Trustee, in trust for the holders of Structured Asset Securities Corporation Mortgage Loan Trust 2002-9 Residual Interest Certificates, Series 2002-9.” (a) On each Payment Date, the Indenture Trustee shall withdraw from the Note Account all amounts required to be deposited in the Certificate Account pursuant to Section 5.03 and remit such amount to the Owner Trustee or the Administrator for deposit into the Certificate Account. On each Payment Date, the Owner Trustee or the Administrator shall distribute all amounts on deposit in the Certificate Account to the Certificateholder in respect of the Residual Interest Certificate. On the Payment Date on which the Class Principal Amount of the Notes is reduced to zero, the Administrator shall distribute all amounts remaining on deposit in the Certificate Account to the Certificateholder in respect of the Residual Interest Certificate in order to clear and terminate the Certificate Account in connection with the termination of this Agreement. (b) All distributions made on the Residual Interest Certificate shall be made by wire transfer of immediately available funds to the account of such Certificateholder. The final distribution on the Residual Interest Certificate will be made in like manner, but only upon presentment and surrender of such Residual Interest Certificate at the location specified in the notice to the Certificateholder of such final distribution.

The Certificate Account. (a) The Administrator, for the benefit of the Certificateholders, shall establish and maintain in the name of the Owner Trustee on behalf of the Certificateholders an account (the “Certificate Account”) entitled “Certificate Account, Wilmington Trust Company[______], as Owner Trustee, in trust for the holders of Structured Asset Securities Xxxxxx ABS Corporation Mortgage Home Equity Loan Trust 2002-9 20[__]-[__], Residual Interest Certificates, Series 2002-9.” (ab) On each Payment Date, the Indenture Trustee shall withdraw from the Note Distribution Account all amounts required to be deposited in the Certificate Account pursuant to Section 5.03 and remit such amount to the Owner Trustee or the Administrator for deposit into the Certificate Account. On each Payment Date, the Owner Trustee or the Administrator shall distribute all amounts on deposit in the Certificate Account to the Certificateholder Certificateholders in respect of the Residual Interest CertificateCertificates as provided in the Trust Agreement. On the Payment Date on which the Class Note Principal Amount of the Notes is reduced to zero, the Administrator shall distribute all amounts remaining on deposit in the Certificate Account to the Certificateholder Certificateholders in respect of the Residual Interest Certificate Certificates in order to clear and terminate the Certificate Account in connection with the termination of this Agreement. (bc) All distributions made on the Residual Interest Certificate Certificates shall be made by wire transfer of immediately available funds to the account of such CertificateholderCertificateholders. The final distribution on the Residual Interest Certificate Certificates will be made in like manner, but only upon presentment and surrender of such Residual Interest Certificate Certificates at the location specified in the notice to the Certificateholder Certificateholders of such final distribution.