Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below): (i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i). (ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October 1, 2006, among Citibank, N.A. (the Trustee), Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated. (iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement. (iv) The Class Principal Amounts of the Offered Certificates are reduced to zero. (v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 2 contracts
Sources: Isda Master Agreement (Lehman XS Trust 2006-17), Isda Master Agreement (Lehman XS Trust 2006-17)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October April 1, 2006, among Citibank, N.A. U.S. Bank National Association (the Trustee), ▇▇▇▇▇ Fargo Bank, N.A., ▇▇▇▇▇▇▇ Fixed Income Services Inc., Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 2 contracts
Sources: Isda Master Agreement (Sasco 2006-Bc1), Isda Master Agreement (Sasco 2006-Bc1)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October August 1, 2006, among Citibank▇▇▇▇▇ Fargo Bank, N.A. as securities administrator (in such capacity, the Securities Administrator), U.S. Bank National Association (the Trustee), Aurora Loan Services LLC, Risk Management Group, LLC and Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates and the Class B Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 2 contracts
Sources: Isda Master Agreement (Sail 2006-Bnc3), Isda Master Agreement (Sail 2006-Bnc3)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October November 1, 20062005, among Citibank, N.A. U.S. Bank National Association (the Trustee), Risk Management Group LLC, Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates and the Class B Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 2 contracts
Sources: Isda Master Agreement (Structured Asset Securities Corp 2005-Ar1), Isda Master Agreement (Structured Asset Securities Corp 2005-Ar1)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October September 1, 2006, among Citibank, N.A. LaSalle Bank National Association (the Trustee), Aurora Loan Services LLC and Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 2 contracts
Sources: Isda Master Agreement (Lehman XS Trust 2006-15), Isda Master Agreement (Lehman XS Trust 2006-15)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October May 1, 2006, among Citibank▇▇▇▇▇ Fargo Bank, N.A. as securities administrator (in such capacity, the Securities Administrator) and as master servicer (in such capacity the Master Servicer), U.S. Bank National Association (the Trustee), ▇▇▇▇▇▇▇ Fixed Income Services Inc. and Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates and the Class B Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 2 contracts
Sources: Isda Master Agreement (Sail 2006-3), Isda Master Agreement (Sail 2006-3)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October April 1, 2006, among Citibank, N.A. U.S. Bank National Association (the Trustee), ▇▇▇▇▇ Fargo Bank, N.A., ▇▇▇▇▇▇▇ Fixed Income Services Inc., Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates and the Class B Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 2 contracts
Sources: Isda Master Agreement (Sail 2006-Bnc2), Isda Master Agreement (Sail 2006-Bnc2)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October August 1, 2006, among Citibank, N.A. (the Trustee), ▇▇▇▇▇▇▇ Fixed Income Services Inc., Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates and the Class B Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii), Part 1(h)(iv) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 2 contracts
Sources: Isda Master Agreement (Sasco 2006-S3), Isda Master Agreement (Sasco 2006-S3)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October 1, 2006, among Citibank▇▇▇▇▇ Fargo Bank, N.A. N.A., as securities administrator (the Securities Administrator), U.S. Bank National Association (the Trustee), ▇▇▇▇▇▇▇ Fixed Income Services Inc., Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 2 contracts
Sources: Isda Master Agreement (BNC Mortgage Loan Trust 2006-2), Isda Master Agreement (BNC Mortgage Loan Trust 2006-2)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October December 1, 20062005, among Citibank, N.A. U.S. Bank National Association (the Trustee), ▇▇▇▇▇ Fargo Bank, N.A., Risk Management Group, LLC., Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates and the Class B Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 2 contracts
Sources: Isda Master Agreement (Structured Asset Investment Loan Trust 2006-1), Isda Master Agreement (Structured Asset Investment Loan Trust 2006-1)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October December 1, 20062005, among Citibank, N.A. U.S. Bank National Association (the Trustee), ▇▇▇▇▇ Fargo Bank, N.A., ▇▇▇▇▇▇▇ Fixed Income Services Inc., Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates and the Class B Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 2 contracts
Sources: Isda Master Agreement (Structured Asset Investment Loan Trust 2005-11), Isda Master Agreement (Structured Asset Investment Loan Trust 2005-11)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October April 1, 2006, among Citibank▇▇▇▇▇ Fargo Bank, N.A. (the Trustee), Risk Management Group, LLC., Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 2 contracts
Sources: Isda Master Agreement (Sasco 2006-Opt1), Isda Master Agreement (Sasco 2006-Opt1)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October 1, 2006, among Citibank▇▇▇▇▇ Fargo Bank, N.A. as securities administrator (in such capacity, the Securities Administrator) and as master servicer (in such capacity, the Master Servicer), U.S. Bank National Association (the Trustee), ▇▇▇▇▇▇▇ Fixed Income Service Inc. and Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates and the Class B Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 2 contracts
Sources: Isda Master Agreement (Sasco 2006-Bc3), Isda Master Agreement (Sasco 2006-Bc3)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October August 1, 2006, among Citibank, N.A. (the Trustee), Aurora Loan Services LLC and Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 2 contracts
Sources: Isda Master Agreement (Lehman XS 2006-13), Isda Master Agreement (Lehman XS 2006-13)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October September 1, 2006, among Citibank, N.A. U.S. Bank National Association (the Trustee), Aurora Loan Services LLC, Risk Management Group, LLC and Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates and the Class B Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 2 contracts
Sources: Isda Master Agreement (BNC Mortgage Loan Trust 2006-1), Isda Master Agreement (BNC Mortgage Loan Trust 2006-1)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October August 1, 2006, among Citibank, N.A. U.S. Bank National Association (the Trustee), OfficeTiger Global Real Estate Services, Inc., Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates and the Class B Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii), Part 1(h)(iv) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 2 contracts
Sources: Isda Master Agreement (First Franklin Mortgage Loan Trust 2006-Ff12), Isda Master Agreement (First Franklin Mortgage Loan Trust 2006-Ff12)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October March 1, 2006, among Citibank, N.A. (the Trustee), Structured Asset Securities Corporation Corporation, as depositor, and Aurora Loan Services LLC LLC, as master servicer (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Group 1 Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Group 1 Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October June 1, 2006, among Citibank, N.A. (the Trustee), Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October February 1, 2006, among Citibank, N.A. U.S. Bank National Association (the Trustee), Risk Management Group, LLC., Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates and the Class B Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract
Sources: Isda Master Agreement (First Franklin Mortgage Loan Trust 2006-Ff2)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October September 1, 20062005, among Citibank, N.A. U.S. Bank National Association (the Trustee), Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract
Sources: Isda Master Agreement (Structured Asset Securities Corporation, 2005-Gel4)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October July 1, 2006, among Citibank, N.A. U.S. Bank National Association (the Trustee), Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates and the Class M9 Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract
Sources: Isda Master Agreement (Lehman XS Trust Series 2006-12n)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October July 1, 20062005, among Citibank, N.A. U.S. Bank National Association (the Trustee), ▇▇▇▇▇ Fargo Bank, N.A., The Murrayhill Company, Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts Amount of the Offered Class A4 Certificates are is reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract
Sources: Isda Master Agreement (Structured Asset Investment Loan Trust 2005-7)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October 1, 2006, among Citibank▇▇▇▇▇ Fargo Bank, N.A. (the Trustee), ▇▇▇▇▇▇▇ Fixed Income Services Inc., Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates and the Class B Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii), Part 1(h)(iv) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract
Sources: Isda Master Agreement (First Franklin Mortgage Loan Trust 2006-Ffa)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October July 1, 20062005, among Citibank, N.A. U.S. Bank National Association (the Trustee), LaSalle Bank National Association, MortgageRamp Inc., Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract
Sources: Isda Master Agreement (SASCO Mortgage Loan Trust 2005-Wf3)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October December 1, 20062005, among Citibank, N.A. (the Trustee), Structured Asset Securities Corporation Corporation, as depositor, and Aurora Loan Services LLC LLC, as master servicer (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Group 1 Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Group 1 Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract
Sources: Isda Master Agreement (Lehman XS Trust, Series 2005-10)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October May 1, 2006, among Citibank, N.A. LaSalle Bank National Association (the Trustee), Structured Asset Securities Corporation Corporation, as depositor, and Aurora Loan Services LLC LLC, as master servicer (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Group 1 Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Group 1 Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract
Sources: Isda Master Agreement (Lehman XS Trust, Series 2006-8)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October March 1, 2006, among Citibank, N.A. U.S. Bank National Association (the Trustee), ▇▇▇▇▇ Fargo Bank, N.A., Risk Management Group, LLC., Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October April 1, 2006, among Citibank, N.A. (the Trustee), Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract
Sources: Isda Master Agreement (LXS 2006-7)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October January 1, 2006, among Citibank, N.A. (the Trustee), Structured Asset Securities Corporation Corporation, as depositor, and Aurora Loan Services LLC LLC, as master servicer (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Group 1 Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Group 1 Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October July 1, 20062005, among Citibank, N.A. U.S. Bank National Association (the Trustee), ▇▇▇▇▇ Fargo Bank, N.A., The Murrayhill Company, Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates and the Class B2 Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract
Sources: Isda Master Agreement (Structured Asset Investment Loan Trust 2005-7)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October July 1, 20062005, among Citibank, N.A. U.S. Bank National Association (the Trustee), Risk Management Group, LLC, Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates and the Class B Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract
Sources: Isda Master Agreement (Structured Asset Investment Loan Trust 2005-He2)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October 1, 20062005, among Citibank, N.A. U.S. Bank National Association (the Trustee), ▇▇▇▇▇▇▇ Fixed Income Services, Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates and the Class M8 Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract
Sources: Isda Master Agreement (First Franklin Mortgage Loan Trust 2005-Ff10)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October July 1, 2006, among Citibank, N.A. LaSalle Bank National Association (the Trustee), Structured Asset Securities Corporation Corporation, as depositor, and Aurora Loan Services LLC LLC, as master servicer (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Group 1 Senior Certificates and the Offered Subordinate Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Group 1 Senior Certificates and the Offered Subordinate Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October July 1, 20062005, among Citibank, N.A. U.S. Bank National Association (the Trustee), Risk Management Group, LLC, Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates and the Class B3 Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract
Sources: Isda Master Agreement (Structured Asset Investment Loan Trust 2005-He1)
Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to Party B as the sole Affected Party (unless otherwise provided below):
(i) Party A fails to comply with the Downgrade Provisions as set forth in Part 5(b), after giving effect to all grace or cure periods therein. For all purposes of this Agreement, Party A shall be the sole Affected Party with respect to the occurrence of a Termination Event described in this Part 1(h)(i).
(ii) Party B or the Trust Fund (as defined in the Trust Agreement, dated as of October March 1, 2006, among Citibank, N.A. (the Trustee), ▇▇▇▇▇▇▇ Fixed Income Services Inc., Structured Asset Securities Corporation and Aurora Loan Services LLC (the Trust Agreement)) is terminated.
(iii) The Trust Agreement is amended or modified without the prior written consent of Party A, where such consent is required under the terms of the Trust Agreement, or if such amendment or modification adversely affects Party A’s interests under this Agreement or the ability of Party B to fully and timely perform its obligations under this Agreement.
(iv) The Class Principal Amounts of the Offered Certificates, the Class M2 and the Class B Certificates are reduced to zero.
(v) Notice of the Master Servicer’s or, the NIMS Insurer’s intention to exercise its option to purchase the Mortgage Loans pursuant to Section 7.01 of the Trust Agreement is given by the Trustee to Certificateholders pursuant to Section 7.02 of the Trust Agreement, provided that the Early Termination Date may not be earlier than the date on which the Certificates are redeemed pursuant to Section 7.02 of the Trust Agreement. Notwithstanding anything in Section 6 of the Agreement to the contrary, any amounts due as result of the occurrence of an Additional Termination Event described in Part 1(h)(ii) and Part 1(h)(v) of this Schedule may be calculated prior to the Early Termination Date and shall be payable on the Early Termination Date.
Appears in 1 contract