Examples of Group 2 Cap Agreement in a sentence
The Trustee shall have no duty or responsibility to enter into any other interest rate cap agreement upon the expiration or termination of the Group 2 Cap Agreement.
Amounts on deposit in the Group 2 Cap Replacement Receipts Account shall be held for the benefit of the Group 2 Cap Counterparty and paid to the Group 2 Cap Counterparty if the Trust Fund is required to make a payment to the Group 2 Cap Counterparty following an event of default or termination event with respect to the Trust Fund under the Group 2 Cap Agreement.
Upon the designation of an “Early Termination Date” as defined in the Group 2 Cap Agreement, the payment required to be made by the Group 2 Cap Counterparty to the Trust Fund pursuant to the terms of the Group 2 Cap Agreement, and any unpaid amounts due from prior payment dates and accrued interest thereon as provided in the Group 2 Cap Agreement, as calculated by the Group 2 Cap Counterparty and furnished to the Trustee.
Concurrently with the execution of this Agreement, the Group 2 Cap Agreement shall be delivered to the Trustee.
Credit Support Annex: Each credit support annex, if any, to the Group 1 Swap Agreement, the Group 1 Cap Agreement, the Balance Guaranteed Cap Agreement or the Group 2 Cap Agreement, each dated as of June 29, 2007, and each between either the Supplemental Interest Trust or the Trustee on behalf of the Trust Fund and the Group 1 Swap Counterparty, the Group 1 Cap Counterparty, the Balance Guaranteed Cap Counterparty or the Group 2 Cap Counterparty, as applicable.
The Trustee shall not be responsible for the legality or validity of this Agreement, any Servicing Agreement, any Custodial Agreement, the Group 1 Cap Agreement, the Group 1 Swap Agreement, the Balance Guaranteed Cap Agreement or the Group 2 Cap Agreement or the validity, priority, perfection or sufficiency of the security for the Certificates, the Pooling REMIC I Regular Interests or the Pooling REMIC II Regular Interests issued or intended to be issued hereunder.
In connection therewith, the Depositor hereby directs the Trustee (solely in its capacity as such) and the Trustee is hereby authorized to execute and deliver the Group 2 Cap Agreement for the benefit of the Class II-A3 and Class II-A4 Certificateholders.
The Seller, the Master Servicer, the Depositor, the Servicers and the Class II-A3 and Class II-A4 Certificateholders (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing and delivering the Group 2 Cap Agreement solely in its capacity as Trustee of the Trust Fund and not in its individual capacity.
On any Distribution Date as to which a shortfall exists with respect to Group 2 Cap Amount owed by the Cap Counterparty as a result of its failure to make payments pursuant to the Group 2 Cap Agreement, amounts necessary to cover such shortfall shall be removed from the Group 2 Collateral Account, remitted to the Group 2 Cap Account and distributed as all or a portion of such Group 2 Cap Amount pursuant to Section 5B.02(e) or Section 5B.02(j), as applicable.
The Seller, the Master Servicer, the Depositor, the Servicers and the Class WF-1 Certificateholders (by their acceptance of such Certificates) acknowledge and agree that the Trustee is executing and delivering the Group 2 Cap Agreement solely in its capacity as Trustee of the Trust Fund and not in its individual capacity.