Cap Contracts Sample Clauses

Cap Contracts. 7 Cash-Out Refinancing.....................................................7 Certificate..............................................................7
Sample 1Sample 2Sample 3See All (8)
AutoNDA by SimpleDocs
Cap Contracts. (a) On or prior to the Closing Date, the Trustee, on behalf of the Trust Fund, is hereby authorized to, and will enter into (i) Cap Contract A for the benefit of the Holders of the Group I and Subordinated Certificates and (ii) Cap Contract B for the benefit of the Holders of the Group II and Subordinated Certificates. The Cap Contracts will be an asset of the Trust Fund but will not be an asset of any REMIC.
Sample 1See All (4)
Cap Contracts. The Group 1 Certificate Cap Contract, the Group 1 Basis Risk Cap Contract, the Group 2 Certificate Cap Contract, the Group 2 Basis Risk Cap Contract, and the Class 2-2A3 Basis Risk Cap Contract. Cap Provider: Swiss Re Financial Products Corporation. Cenlar: Cenlar, FSB, and its successors and assigns, in its capacity as Servicer of the Cenlar Mortgage Loans.
Sample 1Sample 2
Cap Contracts. The Master Servicer shall cause Deutsche Bank Securities Inc. (or its relevant affiliate) to assign all of its right, title and interest in and to the Cap Contracts to, and shall cause all of Deutsche Bank Securities Inc.'s obligations in respect of such transactions to be assumed by, the Trustee on behalf of the Trust Fund, on the terms and conditions set forth in the Assignment Agreements. Each of the Cap Contracts will be an asset of the Trust Fund but will not be an asset of any REMIC. The Master Servicer, on behalf of the Trustee, shall cause to be deposited (x) any amounts received from time to time with respect to the Class A-1 Cap Contract into the Class A-1 Reserve Fund and (y) any amounts received from time to time with respect to the Combined Cap Contract into the Combined Reserve Fund The Master Servicer, on behalf of the Trustee, shall prepare and deliver any notices required to be delivered under the Cap Contracts. The Master Servicer, on behalf of the Trustee, shall act as calculation agent and/or shall terminate the Cap Contracts, in each case upon the occurrence of certain events of default or termination events to the extent specified thereunder. Upon any such termination, the Class A-1 Cap Contract Counterparty and/or the Combined Cap Contract Counterparty, as applicable, will be obligated to pay the Trustee, for the benefit of the Trust Fund, an amount in respect of such termination. Any amounts received by the Trustee for the benefit of the Trust Fund in respect of the termination of the Class A-1 Cap Contract shall be deposited and held in the Class A-1 Reserve Fund and applied on future Distribution Dates to pay any Class A-1 Supplemental Amount on the Class A-1 Certificates. Any amounts received by the Trustee for the benefit of the Trust Fund in respect of the termination of the Class A-2 Cap Contract shall be deposited and held in the Class A-2 Reserve Fund and applied on future Distribution Dates to pay any Class A-2 Supplemental Amount on the Class A-2 Certificates. Any amounts remaining in the Class A-1 Reserve Fund, after the Class Certificate Balance of the Class A-1 Certificates has been reduced to zero, will be distributed to Deutsche Bank Securities, Inc. Any amounts remaining in the Class A-2 Reserve Fund on the Distribution Date immediately following the earlier of (x) the Class A-2 Cap Contract Scheduled Termination Date and (y) the date on which the Class Certificate Balance of the Class A-2Certificates has been reduce...
Sample 1
Cap Contracts. The interest rate Cap Contracts between the Owner Trustee (or assigned to the Owner Trustee) on behalf of the related Underlying Trust and the Derivative Counterparty primarily for the benefit of the Class M-1, Class M-2 and Class M-3 Notes.
Sample 1
Cap Contracts. The Cap Contract Administrator and the Cap Contracts Counterparty have entered into the Cap Contract Administration Agreement. The Indenture Trustee's rights to receive certain proceeds of the Cap Contracts as provided in the Cap Contract Administration Agreement shall be rights of the Indenture Trustee as Cap Trustee under this Indenture, shall be an asset of the Cap Trust, and shall not be an asset of the Trust or of any REMIC. The Cap Contract Administrator and the Master Servicer shall remit any amounts received from time to time with respect to the Cap Contracts to the Cap Trustee, and the Cap Trustee shall deposit the Cap Payment (Cap Trust Share) portion of any amounts received from time to time with respect to a Cap Contract into the related Cap Contract Account, and shall remit to Countrywide Home Loans, Inc. the excess of any amounts received with respect to a Cap Contract for a related Payment Date over the related Cap Payment (Cap Trust Share) for the related Payment Date. No later than two Business Days following each Payment Date, the Cap Trustee shall notify the Cap Contract Administrator of the aggregate Note Principal Balance of each Class of Notes after all distributions on the Payment Date. Upon a Responsible Officer of the Cap Trustee obtaining actual knowledge of an Event of Default (as defined in either Cap Contract) or Termination Event (as defined in either Cap Contract) for which the Cap Contract Administrator has the right to designate an Early Termination Date for the applicable Cap Contract (as defined in the applicable Cap Contract), the Cap Trustee shall act at the written direction of the Depositor as to whether to direct the Cap Contract Administrator to designate an Early Termination Date with respect to the applicable Cap Contract. The Cap Trustee shall provide written notice to each Rating Agency following the Event of Default or Termination Event. Upon the termination of a Cap Contract under the circumstances contemplated by this Section and at the expense of the Depositor, the Cap Trustee shall use commercially reasonable efforts to enforce the rights of the Cap Contract Administrator under the applicable Cap Contract, consistent with this Indenture, and the Cap Contract Administrator shall use commercially reasonable efforts to procure a replacement cap contract with terms approximating those of that original Cap Contract.
Sample 1
Cap Contracts. The Securities Administrator shall deposit any amounts received from time to time with respect to the Cap Contracts into the Reserve Fund. The Securities Administrator shall prepare and deliver any notices required to be delivered under the Cap Contracts. The Cap Contract Provider shall act as calculation agent and/or shall terminate each Cap Contract, in each case upon the occurrence of certain events of default or termination events to the extent specified in or pursuant to the Confirmations. On the related Cap Contract Scheduled Termination Date, after all other distributions to be made on such date have been made pursuant to the terms of this Agreement, if any such amounts received by the Securities Administrator with respect thereto in respect of such termination remain in the Reserve Fund, such amounts shall be distributed by the Securities Administrator to the Class C Certificates. In the event that a Cap Contract is terminated prior to the related Cap Contract Scheduled Termination Date, the Securities Administrator, at the direction of the Depositor, shall use reasonable efforts to appoint a successor cap counterparty using any cap agreement termination payments paid by the Cap Counterparty. If the Securities Administrator is unable to locate a qualified successor cap counterparty within thirty (30) days of the Early Termination Date (as defined in the related Cap Contract), any cap agreement termination payments paid by the Cap Counterparty will be deposited into a separate non-interest bearing Eligible Account and the Securities Administrator, on each subsequent Distribution Date (until the termination date of the related Cap Contract or the appointment of a successor cap counterparty), will withdraw from the amount then remaining on deposit in such account an amount equal to the payment, if any, that would have been paid to the Securities Administrator by the original Cap Counterparty calculated in accordance with the terms of the related original Cap Contract, and distribute such amount to the Holders of the related Certificates in accordance with Section 4.11
Sample 1
AutoNDA by SimpleDocs
Cap Contracts. Any of the Class I-A-1 Cap Contract, Class II-AR-1 Cap Contract, Class II-AR-2 Cap Contract, Class II-MR-1 Cap Contract, Class II-MR-2 Cap Contract and Class II-MR-3 Cap Contract.
Sample 1

Related to Cap Contracts

  • Funding Arrangements Minimum amounts/increments for Japan Local Currency Borrowings, repayments and prepayments: Same as Credit Agreement.

  • Securities Contract; Swap Agreement The parties hereto intend for (i) the Transaction to be a “securities contract” and a “swap agreement” as defined in the Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy Code”), and the parties hereto to be entitled to the protections afforded by, among other Sections, Sections 362(b)(6), 362(b)(17), 546(e), 546(g), 555 and 560 of the Bankruptcy Code, (ii) a party’s right to liquidate the Transaction and to exercise any other remedies upon the occurrence of any Event of Default under the Agreement with respect to the other party to constitute a “contractual right” as described in the Bankruptcy Code, and (iii) each payment and delivery of cash, securities or other property hereunder to constitute a “margin payment” or “settlement payment” and a “transfer” as defined in the Bankruptcy Code.

  • Derivative Contracts (a) The Trustee shall, at the direction of the Master Servicer, on behalf of the Trust Fund, enter into Derivative Contracts, solely for the benefit of the Class SB Certificates. Any such Derivative Contract shall constitute a fully prepaid agreement. The Master Servicer shall determine, in its sole discretion, whether any Derivative Contract conforms to the requirements of Section 4.11(b) and (c). Any acquisition of a Derivative Contract shall be accompanied by an appropriate amendment to this Agreement, including an Opinion of Counsel, as provided in Section 11.01, and either (i) an Opinion of Counsel to the effect that the existence of the Derivative Contract will not adversely affect the availability of the exemptive relief afforded under ERISA by U.S. Department of Labor Prohibited Transaction Exemption 94-29, as most recently amended, 67 Fed. Reg. 54487 (August 22, 2002), or Prohibited Transaction Class Exemption 95-60, 60 Fed. Reg. 35925 (July 12, 1995), to the Holders of the Class A Certificates or the Class M Certificates, respectively, as of the date the Derivative Contract is entered into by the Trustee or (ii) the consent of each Holder of a Class A Certificate or a Class M Certificate to the acquisition of such Derivative Contract. All collections, proceeds and other amounts in respect of the Derivative Contracts payable by the Derivative Counterparty shall be distributed to the Class SB Certificates on the Distribution Date following receipt thereof by the Trustee. In no event shall such an instrument constitute a part of any REMIC created hereunder. In addition, in the event any such instrument is deposited, the Trust Fund shall be deemed to be divided into two separate and discrete sub-Trusts. The assets of one such sub-Trust shall consist of all the assets of the Trust other than such instrument and the assets of the other sub-Trust shall consist solely of such instrument.

  • Swap Contracts The Company shall not and shall not permit any of its Subsidiaries to enter into any Swap Contracts, other than Swap Contracts entered into by the Company or its Subsidiaries pursuant to which the Company or such Subsidiary has hedged its reasonably estimated interest rate, foreign currency or commodity exposure, and which are non-speculative in nature.

  • SUB-CONTRACTS (a) The Servicer may sub-contract or delegate the performance of all or any of its powers and obligations under this Agreement, provided that (but subject to Section 3.2(b)):

  • Collateral Matters; Swap Agreements The benefit of the Security Instruments and of the provisions of this Agreement relating to any collateral securing the Indebtedness shall also extend to and be available to those Lenders or their Affiliates which are counterparties to any Swap Agreement with the Borrower or any of its Subsidiaries on a pro rata basis in respect of any obligations of the Borrower or any of its Subsidiaries which arise under any such Swap Agreement while such Person or its Affiliate is a Lender, but only while such Person or its Affiliate is a Lender, including any Swap Agreements between such Persons in existence prior to the date hereof. No Lender or any Affiliate of a Lender shall have any voting rights under any Loan Document as a result of the existence of obligations owed to it under any such Swap Agreements.

  • Banking Services and Swap Agreements Each Lender or Affiliate thereof providing Banking Services for, or having Swap Agreements with, any Loan Party or any Subsidiary or Affiliate of a Loan Party shall deliver to the Administrative Agent, promptly after entering into such Banking Services or Swap Agreements, written notice setting forth the aggregate amount of all Banking Services Obligations and Swap Agreement Obligations of such Loan Party or Subsidiary or Affiliate thereof to such Lender or Affiliate (whether matured or unmatured, absolute or contingent). In furtherance of that requirement, each such Lender or Affiliate thereof shall furnish the Administrative Agent, from time to time after a significant change therein or upon a request therefor, a summary of the amounts due or to become due in respect of such Banking Services Obligations and Swap Agreement Obligations. The most recent information provided to the Administrative Agent shall be used in determining which tier of the waterfall, contained in Section 2.18(b), such Banking Services Obligations and/or Swap Agreement Obligations will be placed.

  • Swap Agreements The Borrower will not, and will not permit any of its Subsidiaries to, enter into any Swap Agreement, except (a) Swap Agreements entered into to hedge or mitigate risks to which the Borrower or any Subsidiary has actual exposure (other than those in respect of Equity Interests of the Borrower or any of its Subsidiaries), and (b) Swap Agreements entered into in order to effectively cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing liability or investment of the Borrower or any Subsidiary.

  • Swap Agreement The Depositor hereby directs the Securities Administrator to execute and deliver on behalf of the Trust the Swap Agreement and authorizes the Securities Administrator to perform its obligations thereunder on behalf of the Supplemental Interest Trust in accordance with the terms of the Swap Agreement. The Depositor hereby authorizes and directs the Securities Administrator to ratify on behalf of the Supplemental Interest Trust, as the Supplemental Interest Trust’s own actions, the terms agreed to by the Depositor in relation to the Swap Agreement, as reflected in the Swap Agreement, and the Securities Administrator hereby so ratifies the Swap Agreement. If based upon a notice from the valuation agent pursuant to section 4(c) of the credit support annex, the Securities Administrator determines that a delivery amount exists, then the Securities Administrator shall demand such amount pursuant to section 3(a) of the credit support annex. The Securities Administrator shall amend the Swap Agreement in accordance with its terms and as requested in writing by a party to the Swap Agreement to cure any ambiguity in or correct or supplement any provision of, the Swap Agreement; provided, however, that any such amendment will not have a material adverse effect to a Certificateholder as evidenced by a written confirmation from each Rating Agency that such amendment would not result in the reduction or withdrawal of the then current ratings of any outstanding Class of Certificates. The Swap Agreement shall not part of any REMIC. The Swap Provider is the calculation agent under the Swap Agreement and shall calculate all amounts pursuant to the Swap Agreement and notify the Securities Administrator of all such amounts. The Depositor hereby directs the Securities Administrator to execute, deliver and perform its obligations under the Swap Agreement on the Closing Date and thereafter on behalf of the Holders of the Offered Certificates and the Class M-10 and Class M-11 Certificates. The Seller, the Depositor, the Servicer and the Holders of the Offered Certificates and the Class M-10 and Class M-11 Certificates by their acceptance of such Certificates acknowledge and agree that the Securities Administrator shall execute, deliver and perform its obligations under the Swap Agreement and shall do so solely in its capacity as Securities Administrator of the Supplemental Interest Trust and not in its individual capacity. The Depositor hereby instructs the Securities Administrator to make any and all demands for Eligible Collateral (as defined in the ISDA Master Agreement) under the Swap Agreement from the Swap Provider in satisfaction of the Delivery Amount (as defined in the ISDA Master Agreement) requirement. The Depositor hereby instructs the Securities Administrator to deliver notice to the Swap Provider upon any failure of the Swap Provider to transfer the Delivery Amount (as defined in the ISDA Master Agreement) pursuant to an Approved Credit Support Document (as defined in the Swap Agreement).

  • INTERIM ASSET SERVICING ARRANGEMENT (a) With respect to each asset (or liability) designated from time to time by the Receiver to be serviced by the Assuming Bank pursuant to this Arrangement (such being designated as "Pool Assets"), during the term of this Arrangement, the Assuming Bank shall:

Time is Money Join Law Insider Premium to draft better contracts faster.