Corridor Agreement Sample Clauses

Corridor Agreement. On each Payment Date for which the Securities Administrator has received a payment under the Corridor Agreement, the Securities Administrator shall apply such amounts to make payments pursuant to clauses (iii), (iv) and (viii) of Section 3.05(e), in that order, and in each case prior to the application of any Net Monthly Excess Cashflow pursuant to such clauses.
Sample 1Sample 2
AutoNDA by SimpleDocs
Corridor Agreement. The Corridor Supplemental Interest Trust Trustee shall deposit any amounts received from time to time with respect to the Corridor Agreement into the Corridor Contract Reserve Fund. The Corridor Supplemental Interest Trust Trustee shall prepare and deliver any notices required to be delivered under the Corridor Agreement. The Corridor Provider shall act as calculation agent and/or shall terminate the Corridor Agreement, in each case upon the occurrence of certain events of default or termination events to the extent specified in or pursuant to the Corridor Confirmation. Upon any such termination, the Corridor Provider will be obligated to pay the Corridor Supplemental Interest Trust Trustee for the benefit of the Certificateholders an amount in respect of such termination. Any amounts received by the Corridor Supplemental Interest Trust Trustee in respect of such termination shall be deposited and held in the Corridor Contract Reserve Fund to pay Unpaid Realized Loss Amounts and Net Rate Carryover on the Classes of Offered Certificates as provided in Section 4.11 hereof on the Distribution Dates following such termination to and including the Corridor Agreement Scheduled Termination Date. On the Corridor Agreement 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 Corridor Supplemental Interest Trust Trustee with respect thereto in respect of such termination remain in the Corridor Contract Reserve Fund, such amounts shall be distributed by the Securities Administrator to the Holder of the Class C Certificate. The Corridor Provider shall be an express third-party beneficiary of this Agreement to the extent of its express rights to receive any payments under this Agreement or any other express rights of each Corridor Provider explicitly stated in this Agreement, and shall have the right to enforce such rights under this Agreement as if it were a party hereto. In the event that the Corridor Provider fails to perform any of its obligations under the Corridor Agreement (including, without limitation, its obligation to make any payment or transfer collateral), or breaches any of its representations and warranties thereunder, or in the event that any Event of Default, Termination Event, or Additional Termination Event (each as defined in the Corridor Agreement) occurs with respect to the Corridor Agreement, the Corridor Supplemental Interest...
Sample 1
Corridor Agreement. (A) On the Closing Date, the Supplemental Interest Trust Trustee shall, for the benefit of the RALI 2007-QH7 Trust, enter into the Corridor Agreement with the Corridor Provider.
Sample 1
Corridor Agreement. (a) On the Closing Date, the Supplemental Interest Trust Trustee shall (i) establish and maintain in its name, in trust for the benefit of the Certificateholders, the Supplemental Interest Trust Account, which shall be a segregated non-interest bearing trust account, and (ii) for the benefit of the RALI 2008-QR1 Trust, enter into the Corridor Agreement with the Corridor Provider. It is intended that the Supplemental Interest Trust be classified for federal income tax purposes as a grantor trust under Subpart E, part I of subchapter J of chapter 1 of the Code, of which Credit Suisse Securities (USA) LLC is the owner, rather than a partnership, an association taxable as a corporation or a taxable mortgage pool; and the powers granted and obligations undertaken in this Agreement shall be construed so as to further such intent. The primary activities of the Supplemental Interest Trust created pursuant to this Agreement shall be: (i) holding the Corridor Agreement; (ii) receiving collections or making payments with respect to the Corridor Agreement; and (iii) engaging in other activities that are necessary or incidental to accomplish these limited purposes, which activities cannot be contrary to the status of the Supplemental Interest Trust as a qualified special purpose entity under existing accounting literature. The Company and the Certificateholders (by acceptance of their Trust Certificates) acknowledge and agree that (i) the Supplemental Interest Trust Trustee shall execute and deliver the Corridor Agreement on behalf of Party B (as defined therein), and (ii) the Supplemental Interest Trust Trustee shall exercise the rights, perform the obligations, and make the representations of Party B thereunder, solely in its capacity as Supplemental Interest Trust Trustee on behalf of Party B (as defined therein) and not in its individual capacity. Every provision of this Agreement relating to the conduct or affecting the liability of or affording protection to the Trustee shall apply to the Trustee's execution (as Supplemental Interest Trust Trustee) of the Corridor Agreement, and the performance of its duties and satisfaction of its obligations thereunder.
Sample 1
Corridor Agreement. The Supplemental Interest Trust Trustee is hereby authorized and directed to, and agrees that it shall enter into the Corridor Agreement on behalf of the Supplemental Interest Trust. The Supplemental Interest Trust Trustee shall be afforded all the rights and protections provided to the Trustee as described in this Article V. The Supplement Interest Trust Trustee shall be subject to each provision of this Article V to the extent that the Trustee was subject to such provision and such provision is applicable to the Supplemental Interest Trust Trustee's duties and obligations under this Agreement.
Sample 1
Corridor Agreement. (a) On or prior to the Closing Date, the Trustee, on behalf of the Trust Fund, is hereby authorized to, and will enter into the Corridor Agreement for the benefit of the Holders of the Class A Certificates and the Subordinated Certificates. The Corridor Agreement will be an asset of the Trust Fund but not be an asset of any REMIC.
Sample 1

Related to Corridor Agreement

  • Vendor Agreement (Part 1)

  • Property Management Agreement The Property Management Agreement is in full force and effect and, to Borrower's Knowledge, there are no defaults thereunder by any party thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder.

  • Supplemental Agreements with Consent of Applicable Certificateholders Without limitation of Section 9.02 of the Basic Agreement, the provisions of Section 9.02 of the Basic Agreement shall apply to agreements or amendments for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of the Escrow Agreement, the Deposit Agreement, the Liquidity Facility or the NPA or modifying in any manner the rights and obligations of the Applicable Certificateholders under the Escrow Agreement, the Deposit Agreement, the Liquidity Facility or the NPA; provided that the provisions of Section 9.02(1) of the Basic Agreement shall be deemed to include reductions in any manner of, or delay in the timing of, any receipt by the Applicable Certificateholders of payments upon the Deposits.

  • Collective Agreement ARTICLE 1 -

  • Parties to Lock-Up Agreements The Company has furnished to the Underwriters a letter agreement in the form attached hereto as Exhibit A (the “Lock-up Agreement”) from each of the persons listed on Exhibit B. Such Exhibit B lists under an appropriate caption the directors and executive officers of the Company. If any additional persons shall become directors or executive officers of the Company prior to the end of the Company Lock-up Period (as defined below), the Company shall cause each such person, prior to or contemporaneously with their appointment or election as a director or executive officer of the Company, to execute and deliver to the Representatives a Lock-up Agreement.

  • Reciprocal Easement Agreements (a) Neither Borrower, nor any other party is currently in default (nor has any notice been given or received with respect to an alleged or current default) under any of the terms and conditions of the REA, and the REA remains unmodified and in full force and effect;

  • Supplemental Agreements Without Consent of Applicable Certificateholders Without limitation of Section 9.01 of the Basic Agreement, under the terms of, and subject to the limitations contained in, Section 9.01 of the Basic Agreement, the Company may (but will not be required to), and the Trustee (subject to Section 9.03 of the Basic Agreement) shall, at the Company's request, at any time and from time to time, (i) enter into one or more agreements supplemental to the Escrow Agreement, the NPA or the Deposit Agreement, for any of the purposes set forth in clauses (1) through (9) of such Section 9.01, and (without limitation of the foregoing or Section 9.01 of the Basic Agreement) (a) clauses (2) and (3) of such Section 9.01 shall also be deemed to include the Company's obligations under (in the case of clause (2)), and the Company's rights and powers conferred by (in the case of clause (3)), the NPA, and (b) references in clauses (4), (6) and (7) of such Section 9.01 to "any Intercreditor Agreement or any Liquidity Facility" shall also be deemed to refer to "the Intercreditor Agreement, the Liquidity Facility, the Escrow Agreement, the NPA or the Deposit Agreement" and (ii) enter into one or more agreements supplemental to this Agreement to provide for the formation of a Class D Trust, the issuance of Class D Certificates, the purchase by the Class D Trust of Equipment Notes and other matters incidental thereto or otherwise contemplated by Section 2.01(b) of the Basic Agreement.

  • Management Agreement The Management Agreement is in full force and effect and there is no default thereunder by any party thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder.

  • Arrangement Agreement This Plan of Arrangement is made pursuant to, and is subject to the provisions of, the Arrangement Agreement, except in respect of the sequence of the steps comprising the Arrangement, which shall occur in the order set forth herein.

  • TERM OF COLLECTIVE AGREEMENT 1.01 Except where otherwise stated in this Collective Agreement, this Collective Agreement shall be in force and effect from and after the date upon which the Union and the Employer exchange notice of ratification by their respective principals of the terms of this Collective Agreement up to and including June 30, 2020 and from year to year thereafter unless notice, in writing, is given by either Party to the other Party not less than sixty (60) calendar days nor more than one hundred and twenty (120) calendar days prior to the expiration of its desire to amend this Collective Agreement.

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