Common use of Collateral Posting for Ineligible Interest Rate Clause in Contracts

Collateral Posting for Ineligible Interest Rate. Cap Providers. Each Series 2013-A Interest Rate Cap shall provide that, if the Interest Rate Cap Provider with respect thereto is required to obtain a replacement as described in Section 4.4(b) and such replacement is not obtained within the period specified in the Series 2013-A Interest Rate Cap, then such Interest Rate Cap Provider must, until such replacement is obtained or such Interest Rate Cap Provider again becomes an Eligible Interest Rate Cap Provider, post and maintain collateral in order to meet its obligations under such Series 2013-A Interest Rate Cap in an amount determined pursuant to the credit support annex entered into in connection with such Series 2013-A Interest Rate Cap (a “Credit Support Annex”).

Collateral Posting for Ineligible Interest Rate. Cap Providers. Each Series 2013-A B Interest Rate Cap shall provide that, if the Interest Rate Cap Provider with respect thereto is required to obtain a replacement as described in Section 4.4(b) and such replacement is not obtained within the period specified in the Series 2013-A B Interest Rate Cap, then such Interest Rate Cap Provider must, until such replacement is obtained or such Interest Rate Cap Provider again becomes an Eligible Interest Rate Cap Provider, post and maintain collateral in order to meet its obligations under such Series 2013-A B Interest Rate Cap in an amount determined pursuant to the credit support annex entered into in connection with such Series 2013-A B Interest Rate Cap (a “Credit Support Annex”).

Collateral Posting for Ineligible Interest Rate. Cap Providers. Each Series 20132014-A Interest Rate Cap shall provide that, if the Interest Rate Cap Provider with respect thereto is required to obtain a replacement as described in Section 4.4(b) and such replacement is not obtained within the period specified in the Series 20132014-A Interest Rate Cap, then such Interest Rate Cap Provider must, until such replacement is obtained or such Interest Rate Cap Provider again becomes an Eligible Interest Rate Cap Provider, post and maintain collateral in order to meet its obligations under such Series 20132014-A Interest Rate Cap in an amount determined pursuant to the credit support annex entered into in connection with such Series 20132014-A Interest Rate Cap (a “Credit Support Annex”).

Collateral Posting for Ineligible Interest Rate. Cap Providers. Each Series 2013-A B Interest Rate Cap shall provide that, if the Interest Rate Cap Provider with respect thereto is required to obtain a replacement as described in Section 4.4(b) and such replacement is not obtained within the period specified in the Series 2013-A B Interest Rate 56 WEIL:\95470638\23\52399.0041 Cap, then such Interest Rate Cap Provider must, until such replacement is obtained or such Interest Rate Cap Provider again becomes an Eligible Interest Rate Cap Provider, post and maintain collateral in order to meet its obligations under such Series 2013-A B Interest Rate Cap in an amount determined pursuant to the credit support annex entered into in connection with such Series 2013-A B Interest Rate Cap (a “Credit Support Annex”).

Collateral Posting for Ineligible Interest Rate. Cap Providers. Each Series 20132014-A Interest Rate Cap shall provide that, if the Interest Rate Cap Provider with respect thereto is required to obtain a replacement as described in Section 4.4(b) and such replacement is not obtained within the period specified in the Series 20132014-A Interest Rate Cap, then such Interest Rate Cap Provider must, until such replacement is obtained or WEIL:\95450705\27\52399.0041 such Interest Rate Cap Provider again becomes an Eligible Interest Rate Cap Provider, post and maintain collateral in order to meet its obligations under such Series 20132014-A Interest Rate Cap in an amount determined pursuant to the credit support annex entered into in connection with such Series 20132014-A Interest Rate Cap (a “Credit Support Annex”).