Additional Trust Fund Termination Requirements. (a) On the termination of the Trust Fund under Section 7.01 (a), or on the exercise of a right to purchase all of the Mortgage Loans under Section 7.01(c), the Trustee shall comply with requirements of this Section 7.03 with respect to the Lower Tier REMIC, unless the party having the right to purchase the assets of the Lower-Tier REMIC (the “Purchaser”) delivers to the Trustee, an Opinion of Counsel (at the expense of the Purchaser), addressed to the Trustee to the effect that the failure of the Trustee to comply with the requirements of this Section 7.03 will not result in an Adverse REMIC Event:
Appears in 10 contracts
Samples: Pooling and Servicing Agreement (J.P. Morgan Mortgage Trust 2006-S2), Pooling and Servicing Agreement (J.P. Morgan Alternative Loan Trust 2006-S3), Pooling and Servicing Agreement (J P Morgan Acceptance Corp I)
Additional Trust Fund Termination Requirements. (a) On the termination of the Trust Fund under Section 7.01 (a), or on the exercise of a right to purchase all of the Mortgage Loans of the Aggregate Pool under Section 7.01(c), the Trustee shall comply with requirements of this Section 7.03 with respect to the related Lower Tier REMIC, unless the party having the right to purchase the assets of the such Lower-Tier REMIC (the “Purchaser”) delivers to the Trustee, an Opinion of Counsel (at the expense of the Purchaser), addressed to the Trustee to the effect that the failure of the Trustee to comply with the requirements of this Section 7.03 will not result in an Adverse REMIC Event:
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (J.P. Morgan Mortgage Trust 2007-S2), Pooling and Servicing Agreement (J.P. Morgan Mortgage Trust 2007-S1), Pooling and Servicing Agreement (J.P. Morgan Mortgage Trust 2007-S3)
Additional Trust Fund Termination Requirements. (a) On the termination of the Trust Fund under Section 7.01 (a7.01(a), or on the exercise of a right to purchase all of the Mortgage Loans under Section 7.01(c), the Trustee shall comply with requirements of this Section 7.03 with respect to the applicable Lower Tier REMIC, unless the party having the right to purchase the assets of the Lower-Tier REMIC (the “Purchaser”) delivers to the Trustee, an Opinion of Counsel (at the expense of the Purchaser), addressed to the Trustee to the effect that the failure of the Trustee to comply with the requirements of this Section 7.03 will not result in an Adverse REMIC Event:
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (J.P. Morgan Alternative Loan Trust 2006-A7), Pooling and Servicing Agreement (J.P. Morgan Alternative Loan Trust 2006-A6), Pooling and Servicing Agreement (J P Morgan Acceptance Corp I)
Additional Trust Fund Termination Requirements. (a) On the termination of the Trust Fund under Section 7.01 (a), or on the exercise of a right to purchase all of the Mortgage Loans of the Aggregate Pool or Pool 3 under Section 7.01(c), the Trustee shall comply with requirements of this Section 7.03 with respect to the Lower Tier REMIC, unless the party having the right to purchase the assets of the Lower-Tier REMIC (the “Purchaser”) delivers to the Trustee, an Opinion of Counsel (at the expense of the Purchaser), addressed to the Trustee to the effect that the failure of the Trustee to comply with the requirements of this Section 7.03 will not result in an Adverse REMIC Event:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (J.P. Morgan Alternative Loan Trust 2006-S1), Pooling and Servicing Agreement (J.P. Morgan Mortgage Trust 2005-S3)
Additional Trust Fund Termination Requirements. (a) On the termination of the Trust Fund under Section 7.01 (a), or on the exercise of a right to purchase all of the Mortgage Loans under Section 7.01(c), the Trustee shall comply with requirements of this Section 7.03 with respect to the Lower Lower-Tier REMICREMIC1, unless the party having the right to purchase the assets of the Lower-Tier REMIC REMIC1 (the “Purchaser”) delivers to the Trustee, an Opinion of Counsel (at the expense of the Purchaser), addressed to the Trustee to the effect that the failure of the Trustee to comply with the requirements of this Section 7.03 will not result in an Adverse REMIC Event:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (J.P. Morgan Alternative Loan Trust 2007-S1), Pooling and Servicing Agreement (J.P. Morgan Alternative Loan Trust 2006-S4)
Additional Trust Fund Termination Requirements. (a) On the termination of the Trust Fund under Section 7.01 (a), or on the exercise of a right to purchase all of the Mortgage Loans of the Aggregate Pool under Section 7.01(c), the Trustee shall comply with requirements of this Section 7.03 with respect to the Lower Tier REMIC, unless the party having the right to purchase the assets of the Lower-Tier REMIC (the “Purchaser”) delivers to the Trustee, an Opinion of Counsel (at the expense of the Purchaser), addressed to the Trustee to the effect that the failure of the Trustee to comply with the requirements of this Section 7.03 will not result in an Adverse REMIC Event:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (J.P. Morgan Alternative Loan Trust 2005-S1)
Additional Trust Fund Termination Requirements. (a) On the termination of the Trust Fund under Section 7.01 (a), or on the exercise of a right to purchase all of the Mortgage Loans under Section 7.01(c), the Trustee shall comply with requirements of this Section 7.03 with respect to the related Lower Tier REMIC, unless the party having the right to purchase the assets of the such Lower-Tier REMIC (the “Purchaser”) delivers to the Trustee, an Opinion of Counsel (at the expense of the Purchaser), addressed to the Trustee to the effect that the failure of the Trustee to comply with the requirements of this Section 7.03 will not result in an Adverse REMIC Event:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (J.P. Morgan Mortgage Trust 2006-S4)
