The Yield Maintenance Agreement. (a) On the Closing Date, the Trustee shall, for the benefit of the Class A, Class M and Class SB Certificates, enter into the Yield Maintenance Agreement. (b) The Trustee shall deposit or cause to be deposited any amount received under the Yield Maintenance Agreement into the Certificate Account on the date such amount is received from the Yield Maintenance Agreement Provider under the Yield Maintenance Agreement (including Yield Maintenance Agreement Termination Payments, if any). All Yield Maintenance Payments received under the Yield Maintenance Agreement shall be distributed as set forth in Section 4.09(c) below. Neither the Yield Maintenance Agreement nor any Yield Maintenance Payments (including Yield Maintenance Termination Payments) constitute a part of any REMIC created hereunder and to the extent any Yield Maintenance Payments are included as part of Excess Cash Flow they are so for definition purposes only. (c) To the extent not already covered by distributions of Excess Cash Flow pursuant to clauses (ix) through (xvv) of Section 4.02
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (RAAC Series 2006-Sp4 Trust), Pooling and Servicing Agreement (RAAC Series 2007-Sp1 Trust), Pooling and Servicing Agreement (RAAC Series 2006-Sp3 Trust)
The Yield Maintenance Agreement. (a) On the Closing Date, the Trustee shall, for the benefit of the Class A, Class M and Class SB Certificates, enter into the Yield Maintenance Agreement.
(b) The Trustee shall deposit or cause to be deposited any amount received under the Yield Maintenance Agreement into the Certificate Account on the date such amount is received from the Yield Maintenance Agreement Provider under the Yield Maintenance Agreement (including Yield Maintenance Agreement Termination Payments, if any). All Yield Maintenance Payments received under the Yield Maintenance Agreement shall be distributed as set forth in Section 4.09(c) below. Neither the Yield Maintenance Agreement nor any Yield Maintenance Payments (including Yield Maintenance Agreement Termination Payments) constitute a part of any REMIC created hereunder and to the extent any Yield Maintenance Payments are included as part of Excess Cash Flow they are so for definition purposes only.
(c) To the extent not already covered by distributions of Excess Cash Flow pursuant to clauses (ix) through (xvv) of Section 4.02
Appears in 1 contract
Samples: Pooling and Servicing Agreement (RAAC Series 2007 SP2 Trust)
