Common use of Cap Trust Clause in Contracts

Cap Trust. On the Closing Date, there is hereby established a separate trust (the "Cap Trust"), the assets of which shall consist of the Indenture Trustee's rights and obligations under the Cap Administration Agreement as Cap Contract Administrator. The Cap Trust shall be maintained by the Cap Trustee, who initially, shall be the Indenture Trustee. On each Payment Date, funds on deposit in the Cap Contract Account up to the Cap Shortfall shall be distributed to the Holders of the Class 2-A Notes and any funds remaining in the account after this payment on any Payment Date shall be paid to the Sponsor. For federal income tax purposes, the Cap Trust, including the Cap Contract Account, shall be owned by the Sponsor. In the event that an early termination payment is received with respect to an Early Termination Date, the early termination payment will be deposited by the Cap Trustee in the Cap Contract Account to cover future Cap Shortfalls on the Class 2-A Notes until the Cap Contract Termination Date and any remaining amount will be paid on that date to the Sponsor.

Cap Trust. On the Closing Date, there is hereby established a separate trust (the "Cap Trust"), the assets of which shall consist of the Indenture Trustee's rights and obligations under the Cap Administration Agreement as Cap Contract Administrator. The Cap Trust shall be maintained by the Cap Trustee, who initially, shall be the Indenture Trustee. On each Payment Date, funds on deposit in the Cap Contract Account up to the Cap Shortfall shall be distributed to the Holders of the Class 2-A Notes and any funds remaining in the account after this payment on 63 any Payment Date shall be paid to the Sponsor. For federal income tax purposes, the Cap Trust, including the Cap Contract Account, shall be owned by the Sponsor. In the event that an early termination payment is received with respect to an Early Termination Date, the early termination payment will be deposited by the Cap Trustee in the Cap Contract Account to cover future Cap Shortfalls on the Class 2-A Notes until the Cap Contract Termination Date and any remaining amount will be paid on that date to the Sponsor.