Common use of Yield Maintenance Clause in Contracts

Yield Maintenance. AccountOn or prior to the Closing Date, the Trustee shall cause to be established and maintained the Yield Maintenance Account, into which amounts received by the Trustee from the Cap Counterparty pursuant to the Yield Maintenance Agreements shall be deposited for the benefit of the Class CA-1B and Class CA-1C Certificates. On each Distribution Date, the Trustee shall withdraw from the Yield Maintenance Account to the extent funds are available therein and in accordance with the statement received from the Servicer pursuant to Section 4.02(b), the Yield Maintenance Payment Amounts for the Class CA-1B and Class CA-1C Certificates for such Distribution Date, and deposit such amounts in the Certificate Account for payment to the related Class CA-1B and Class CA-1C Certificates pursuant to Section 4.05(a). Amounts on deposit in the Yield Maintenance Account shall not be invested and shall not be held in an interest-bearing account. The Trustee shall withdraw from the Yield Maintenance Account and pay to itself any amounts remaining in the Yield Maintenance Account after the Final Yield Maintenance Payment Date. To the extent that it constitutes a "reserve fund" for purposes of the REMIC Provisions, the Yield Maintenance Account established hereunder shall be an "outside reserve fund" as defined in Treasury Regulation 1.860G-2(h), and in that regard (i) such fund shall be an outside reserve fund and not an asset of any REMIC, (ii) such fund shall be owned for federal tax purposes by the Trustee, and the Trustee shall report all amounts of income, deduction, gain or loss accruing therefrom, and (iii) amounts transferred by the REMIC to the fund shall be treated as distributed by the REMIC to the Trustee. The Servicer shall deliver to the Trustee an annual statement showing (x) the amounts received by the Trustee, in its capacity as owner of the Yield Maintenance Account for income tax purposes, as payments on the Yield Maintenance Agreements, and (y) the amounts paid to Certificateholders from such amounts received. The Servicer shall indemnify the institution acting as Trustee, both in its individual capacity and as Trustee, to the extent that any tax liability of the Trustee, in its capacity as owner of the Yield Maintenance Account for income tax purposes (including the amount of any tax liability resulting from the indemnity payment), exceeds the net funds (that is, the excess of the amount in clause (x) above over the amount in clause (y) above), if any, received by the Trustee from such account.

Yield Maintenance. AccountOn or prior to the Closing Date, the Trustee shall cause to be established and maintained the Yield Maintenance Account, into which amounts received by the Trustee from the Cap Counterparty pursuant to the Yield Maintenance Agreements shall be deposited for the benefit of the Class CA-1B A-1C and Class CA-1C A-1D Certificates. On each Distribution Date, the Trustee shall withdraw from the Yield Maintenance Account to the extent funds are available therein and in accordance with the statement received from the Servicer pursuant to Section 4.02(b), the Yield Maintenance Payment Amounts for the Class CA-1B A-1C and Class CA-1C A-1D Certificates for such Distribution Date, and deposit such amounts in the Certificate Account for payment to the related Class CA-1B A-1C and Class CA-1C A-1D Certificates pursuant to Section 4.05(a). Amounts on deposit in the Yield Maintenance Account shall not be invested and shall not be held in an interest-bearing account. The Trustee shall withdraw from the Yield Maintenance Account and pay to itself any amounts remaining in the Yield Maintenance Account after the Final Yield Maintenance Payment Date. To the extent that it constitutes a "reserve fund" for purposes of the REMIC Provisions, the Yield Maintenance Account established hereunder shall be an "outside reserve fund" as defined in Treasury Regulation 1.860G-2(h), and in that regard (i) such fund shall be an outside reserve fund and not an asset of any REMIC, (ii) such fund shall be owned for federal tax purposes by the Trustee, and the Trustee shall report all amounts of income, deduction, gain or loss accruing therefrom, and (iii) amounts transferred by the REMIC to the fund shall be treated as distributed by the REMIC to the Trustee. The Servicer shall deliver to the Trustee an annual statement showing (x) the amounts received by the Trustee, in its capacity as owner of the Yield Maintenance Account for income tax purposes, as payments on the Yield Maintenance Agreements, and (y) the amounts paid to Certificateholders from such amounts received. The Servicer shall indemnify the institution acting as Trustee, both in its individual capacity and as Trustee, to the extent that any tax liability of the Trustee, in its capacity as owner of the Yield Maintenance Account for income tax purposes (including the amount of any tax liability resulting from the indemnity payment), exceeds the net funds (that is, the excess of the amount in clause (x) above over the amount in clause (y) above), if any, received by the Trustee from such account.