WAC. The second notional component represents the right to receive all distributions in respect of the Class MT1-IO Interest in Middle-Tier REMIC 1 (the “Class I” interest). In addition, for purposes of the REMIC Provisions, the Class X Certificate shall represent beneficial ownership of (i) the Basis Risk Reserve Fund; (ii) the Supplemental Interest Trust Account, including the Swap Agreement, and (iii) an interest in the notional principal contracts described in Section 10.01(n) hereof.
Appears in 4 contracts
Samples: Trust Agreement (Lehman XS Trust 2006-3), Trust Agreement (Lehman XS Trust 2006-9), Trust Agreement (Lehman XS Trust 2006-5)
WAC. The second notional component represents the right to receive all distributions in respect of the Class MT1-IO Interest in Middle-Tier REMIC 1 (the “Class I” interest). In addition, for purposes of the REMIC Provisions, the Class 1-X Certificate shall represent beneficial ownership of (i) the Pool 1 Basis Risk Reserve Fund; (ii) the Supplemental Interest Trust Account, including the Swap Agreement, and (iii) an interest in the notional principal contracts described in Section 10.01(n) hereof.
Appears in 2 contracts
Samples: Trust Agreement (Lehman XS Trust 2006-1), Trust Agreement (Structured Asset Securities Corp)
WAC. The second notional component represents the right to receive all distributions in respect of the Class MT1-IO Interest in Middle-Tier REMIC 1 (the “Class I” interest)1. In addition, for purposes of the REMIC Provisions, the Class 1-X Certificate shall represent beneficial ownership of (i) the Pool 1 Basis Risk Reserve Fund; (ii) the Supplemental Interest Trust Account, including the Swap Agreement, and (iii) an interest in the notional principal contracts described in Section 10.01(n) hereof.
Appears in 1 contract
WAC. The second notional component represents the right to receive all distributions in respect of the Class MT1-IO Interest in Middle-Tier REMIC 1 (the “Class I” interest). In addition, for purposes of the REMIC Provisions, the Class X Certificate shall represent beneficial ownership of (i) the Basis Risk Reserve Fund, including the Class 3-A1A Cap Agreement; (ii) the Supplemental Interest Trust Account, including the Swap Agreement, and (iii) an interest in the notional principal contracts described in Section 10.01(n) hereof.
Appears in 1 contract