The Instrument. At any time on or after the Closing Date, the Depositor shall have the right to cause the Issuer to enter into, solely for the benefit of the Holder of the Trust Certificate, a derivative contract or comparable instrument (the “Instrument”). Any such Instrument shall constitute a fully prepaid agreement. All collections, proceeds and other amounts in respect of such an Instrument shall be distributed to the Trust Certificate through the Certificate Account on the Payment Date following receipt thereof by the Issuer.
Appears in 7 contracts
Samples: Sale and Servicing Agreement (Sast 2006-3), Sale and Servicing Agreement (Saxon Asset Securities Trust 2004-3), Sale and Servicing Agreement (Saxon Asset Securities Trust 2005-1)
