Common use of Yield Maintenance Agreements Clause in Contracts

Yield Maintenance Agreements. (A) On the Closing Date, Trustee shall, for the benefit of the RALI Series 2006-QH1 Trust, enter in the Class A/Class M Yield Maintenance Agreement with the Yield Maintenance Agreements Provider. On the Business Day prior to each Distribution Date from and including the Distribution Date in January 2007 to and including the Distribution Date in October 2011, the Trustee shall deposit any amounts received under the Class A/Class M Yield Maintenance Agreements into the Certificate Account. On each Distribution Date from and including the Distribution Date in January 2007 to and including the Distribution Date in October 2011, the Trustee shall withdraw from the Certificate Account any amounts received under the Class A/Class M Yield Maintenance Agreement and distribute such amounts as follows: (i) first, to the Holders of the Offered Certificates in the order of priority set forth in Section 4.02(c)(i), to cover Accrued Certificate Interest (after taking into account the distributions made pursuant to Section 4.02(c)(i) on that Distribution Date); (ii) second, to the Holders of the Offered Certificates in the order of priority set forth in Section 4.02(d), to cover Realized Losses to extent necessary to maintain the Required Overcollateralization Amount; (iii) third, to the Holders of the Offered Certificates in the order of priority set forth in Sections 4.02(c)(vi) and (vii), to cover Interest Carryforward Amounts and Basis Risk Shortfalls (after taking into account the distributions made pursuant to Sections 4.02(c)(vi) and (vii) on that Distribution Date); and (iv) fourth, to the Holders of the Class SB Certificates. (B) On the Closing Date, Trustee shall, for the benefit of the RALI Series 2006-QH1 Trust, enter in the Class A-3 Yield Maintenance Agreement with the Yield Maintenance Agreements Provider. On the Business Day prior to each Distribution Date from and including the Distribution Date in January 2007 to and including the Distribution Date in October 2011, the Trustee shall deposit any amounts received under the Class A-3 Yield Maintenance Agreement into the Certificate Account. On each Distribution Date from and including the Distribution Date in January 2007 to and including the Distribution Date in October 2011, the Trustee shall withdraw from the Certificate Account any amounts received under the Class A-3 Yield Maintenance Agreement and distribute such amounts as follows: (i) first, to the Holders of the Class A-3 Certificates, to cover Accrued Certificate Interest (after taking into account the distributions made pursuant to Section 4.02(c)(i) on that Distribution Date); (ii) second, to the Holders of the Class A-3 Certificates, to cover Interest Carryforward Amounts and Basis Risk Shortfalls (after taking into account the distributions made pursuant to Sections 4.02(c)(vi) and (vii) on that Distribution Date); and (iii) third, to the Holders of the Class SB Certificates. (C) In the event that the either of the Yield Maintenance Agreements, or any replacement of them, terminates prior to the Distribution Date in December 2009, the Master Servicer, but at no expense to the Master Servicer, on behalf of the Trustee, to the extent that the termination value under the Yield Maintenance Agreements are sufficient therefor and only to the extent of the termination payment received from the Yield Maintenance Agreements Provider, shall (i) cause a new yield maintenance agreement provider to assume the obligations of the terminated Yield Maintenance Agreements Provider or (ii) cause a new yield maintenance agreement or agreements provider to enter into a new yield maintenance agreement with RALI Series 2006-QH1 Trust, having substantially similar terms as those set forth in the either of the applicable Yield Maintenance Agreements.

Yield Maintenance Agreements. (Aa) On the Closing Date, Trustee shall, for the benefit of the RALI Series 2006-QH1 Trust, enter in the Class A/Class M Yield Maintenance Agreement with the Yield Maintenance Agreements Provider. On the Business Day prior to each Distribution Date from and including the Distribution Date in January 2007 to and including the Distribution Date in October 2011, the Trustee shall deposit any amounts received under the Class A/Class M Yield Maintenance Agreements into the Certificate Account. On each Distribution Date from and including the Distribution Date in January 2007 to and including the Distribution Date in October 2011, the Trustee shall withdraw from the Certificate Account any amounts received under the Class A/Class M Yield Maintenance Agreement and distribute such amounts as follows: (i) first, to the Holders of the Offered Certificates in the order of priority set forth in Section 4.02(c)(i), to cover Accrued Certificate Interest (after taking into account the distributions made pursuant to Section 4.02(c)(i) on that Distribution Date); (ii) second, to the Holders of the Offered Certificates in the order of priority set forth in Section 4.02(d), to cover Realized Losses to extent necessary to maintain the Required Overcollateralization Amount; (iii) third, to the Holders of the Offered Certificates in the order of priority set forth in Sections 4.02(c)(vi) and (vii), to cover Interest Carryforward Amounts and Basis Risk Shortfalls (after taking into account the distributions made pursuant to Sections 4.02(c)(vi) and (vii) on that Distribution Date); and (iv) fourth, to the Holders of the Class SB Certificates. (Bb) On the Closing Date, Trustee shall, for the benefit of the RALI Series 2006-QH1 Trust, enter in the Class A-3 Yield Maintenance Agreement with the Yield Maintenance Agreements Provider. On the Business Day prior to each Distribution Date from and including the Distribution Date in January 2007 to and including the Distribution Date in October 2011, the Trustee shall deposit any amounts received under the Class A-3 Yield Maintenance Agreement into the Certificate Account. On each Distribution Date from and including the Distribution Date in January 2007 to and including the Distribution Date in October 2011, the Trustee shall withdraw from the Certificate Account any amounts received under the Class A-3 Yield Maintenance Agreement and distribute such amounts as follows: (i) first, to the Holders of the Class A-3 Certificates, to cover Accrued Certificate Interest (after taking into account the distributions made pursuant to Section 4.02(c)(i) on that Distribution Date); (ii) second, to the Holders of the Class A-3 Certificates, to cover Interest Carryforward Amounts and Basis Risk Shortfalls (after taking into account the distributions made pursuant to Sections 4.02(c)(vi) and (vii) on that Distribution Date); and (iii) third, to the Holders of the Class SB Certificates. (Cc) In the event that the either of the Yield Maintenance Agreements, or any replacement of them, terminates prior to the Distribution Date in December 2009, the Master Servicer, but at no expense to the Master Servicer, on behalf of the Trustee, to the extent that the termination value under the Yield Maintenance Agreements are sufficient therefor and only to the extent of the termination payment received from the Yield Maintenance Agreements Provider, shall (i) cause a new yield maintenance agreement provider to assume the obligations of the terminated Yield Maintenance Agreements Provider or (ii) cause a new yield maintenance agreement or agreements provider to enter into a new yield maintenance agreement with RALI Series 2006-QH1 Trust, having substantially similar terms as those set forth in the either of the applicable Yield Maintenance Agreements.