Corridor Contracts. Countrywide shall cause The Bank of New York to enter into the Corridor Contract Administration Agreement and shall assign all of its right, title and interest in and to the interest rate corridor transactions evidenced by the Corridor Contracts to, and shall cause all of its obligations in respect of such transactions to be assumed by, the Corridor Contract Administrator, on the terms and conditions set forth in the Corridor Contract Assignment Agreement. The Trustee's rights to receive certain proceeds of the Corridor Contracts as provided in the Corridor Contract Administration Agreement will be assets of the Trust Fund but will not be assets of any REMIC. The Trustee, shall deposit any amounts received from time to time with respect to any Corridor Contract into the Corridor Contract Reserve Fund. The Master Servicer shall deposit any amounts received on behalf of the Trustee from time to time with respect to any Corridor Contract into the Corridor Contract Reserve Fund. No later than two Business Days following each Distribution Date, the Trustee shall provide the Corridor Contract Administrator with information regarding the aggregate Class Certificate Balance of the Class(es) of Certificates related to each Corridor Contract after all distributions on such Distribution Date. The Trustee shall direct the Corridor Contract Administrator to terminate a Corridor Contract upon the occurrence of certain events of default or termination events to the extent specified thereunder. Upon any such termination, the applicable Corridor Contract Counterparty will be obligated to pay the Corridor Contract Administrator an amount in respect of such termination, and the portion of such amount that is distributable to the Trust Fund pursuant to the Corridor Contract Administration Agreement and received by the Trustee or the Master Servicer for the benefit of the Trust Fund, as the case may be, in respect of such termination shall be deposited and held in the Corridor Contract Reserve Fund and applied on future Distribution Dates to pay any related Yield Supplement Amount on the Class 1-A-1, Class 1-A-3, Class 2 A-1, Class 2 A-3, Class 2 A-6, Class 2 A-8 and Class 2 A-14 Certificates, as applicable. Any amounts remaining in the Corridor Contract Reserve Fund, after the earlier of (i) the date on which the Class Certificate Balances of the Class 1-A-1, Class 1-A-3, Class 2 A-1, Class 2 A-3, Class 2 A-6, Class 2 A-8 and Class 2 A-14 Certificates have been reduced to zer...
Corridor 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 each Corridor Contract 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 Corridor Contract 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 any amounts received from time to time with respect to the Corridor Contracts into the Reserve Fund. The Master Servicer, on behalf of the Trustee, shall prepare and deliver any notices required to be delivered under any Corridor Contract. The Master Servicer, on behalf of the Trustee, shall act as calculation agent and/or shall terminate any Corridor Contract, upon the occurrence of certain events of default or termination events to the extent specified thereunder. Upon any such termination, the related Corridor Contract Counterparty 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 a Corridor Contract shall be deposited and held in the Corridor Contract Reserve Fund and applied on future Distribution Dates to pay any Yield Supplement Amount on the related Class of Floating Rate Certificates. Any amounts remaining in the Corridor Contract Reserve Fund on the Distribution Date immediately following the earlier of (x) the latest to occur of the related Corridor Contract Scheduled Termination Date and (y) the date on which the aggregate Class Certificate Balance of the Floating Rate Certificates has been reduced to zero, will be distributed to Deutsche Bank Securities Inc., and will not be available for payment of any Yield Supplement Amount on any Class of Floating Rate Certificates.
Corridor Contracts. 82 ARTICLE IV DISTRIBUTIONS AND ADVANCES BY THE MASTER SERVICER
Corridor Contracts. 75 SECTION 3.20. Prepayment Charges................................................................76
Corridor Contracts. The four interest rate corridor 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 I-A-1, Class I-A-2, Class I-M-1, Class I-M-2 and Class I-M-3 Notes. CPR: A constant rate of prepayment on the Mortgage Loans or HELOC Mortgage Loans.
Corridor Contracts. The transactions evidenced by the related Confirmation, a form of which is attached hereto as Exhibit R. Corridor Contract Counterparty: Bear Xxxxxxx Financial Products Inc.
Corridor Contracts. 82 ARTICLE IV DISTRIBUTIONS AND ADVANCES BY THE MASTER SERVICER SECTION 4.01. Advances.....................................................84 SECTION 4.02. Priorities of Distribution...................................85 SECTION 4.03. [Reserved]...................................................90 SECTION 4.04. Allocation of Realized Losses................................90 SECTION 4.05. Cross-Collateralization......................................92 SECTION 4.06. Monthly Statements to Certificateholders.....................92 SECTION 4.07. Determination of Pass-Through Rates for COFI Certificates.................................................94 SECTION 4.08. Determination of Pass-Through Rates for LIBOR Certificates.................................................95 SECTION 4.09. Distributions from the Corridor Contract Reserve Fund........97
Corridor Contracts. 82 ARTICLE IV DISTRIBUTIONS AND ADVANCES BY THE MASTER SERVICER SECTION 4.01. Advances...................................................................................84 SECTION 4.02. Priorities of Distribution.................................................................85 SECTION 4.03. [Reserved].................................................................................90 SECTION 4.04. Allocation of Realized Losses..............................................................90 SECTION 4.05. Cross-Collateralization....................................................................92 SECTION 4.06. Monthly Statements to Certificateholders...................................................92 SECTION 4.07. Determination of Pass-Through Rates for COFI Certificates..................................94 SECTION 4.08. Determination of Pass-Through Rates for LIBOR Certificates.................................95 SECTION 4.09. Distributions from the Corridor Contract Reserve Fund......................................97 ARTICLE V THE CERTIFICATES SECTION 5.01. The Certificates...........................................................................98 SECTION 5.02. Certificate Register; Registration of Transfer and Exchange of Certificates................98 SECTION 5.03. Mutilated, Destroyed, Lost or Stolen Certificates.........................................103 SECTION 5.04. Persons Deemed Owners.....................................................................103 SECTION 5.05. Access to List of Certificateholders' Names and Addresses.................................103 SECTION 5.06. Maintenance of Office or Agency...........................................................104
Corridor Contracts. (a) In the event that the Securities Administrator does not receive by the Business Day preceding a Payment Date the amount reported to the Securities Administrator as the amount to be paid with respect to such Payment Date by the Corridor Contract Counterparty under the related Corridor Contract, the Securities Administrator shall notify the Indenture Trustee and the Indenture Trustee, at the direction of the Holders of a majority of the aggregate Note Principal Balances of the Notes in accordance with Section 5.11, shall enforce the obligation of the Corridor Contract Counterparty under such Corridor Contract. The parties hereto acknowledge that the Corridor Contract Counterparty shall make all calculations, and determine the amounts to be paid, under the related Corridor Contract. The Securities Administrator may conclusively rely on such calculations and determination and any notice received by it from the Corridor Contract Counterparty pursuant to the related Corridor Contract. The Indenture Trustee may conclusively rely on information provided to it by the Securities Administrator. The Indenture Trustee has no obligation to monitor, and no liability for, the performance of the Securities Administrator under the related Corridor Contract, and the Indenture Trustee shall be indemnified by the Trust and held harmless against any loss, liability or expense incurred in the administration of each Corridor Contract as provided under Section 6.07.
Corridor Contracts. The Master Servicer shall cause Bank of America LLC (or its relevant affiliate) to assign all of its right, title and interest in and to the Corridor Contracts to, and shall cause all of Bank of America LLC's obligations in respect of such transaction to be assumed by, the Trustee on behalf of the Trust Fund, on the terms and conditions set forth in the Assignment Agreement. The Corridor Contracts will be assets of the Trust Fund but will not be assets of any REMIC. The Master Servicer, on behalf of the Trustee, shall cause to be deposited any amounts received from time to time with respect to the Corridor Contracts into the Corridor Contract Reserve Fund. The Master Servicer, on behalf of the Trustee, shall, upon receipt of direction from Bank of America LLC., prepare and deliver any notices required to be delivered under the Corridor Contracts. The Master Servicer, on behalf of the Trustee, shall act as calculation agent and/or shall terminate the Corridor 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 Corridor Contract Counterparty 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 such termination shall be deposited and held in the Corridor Contract Reserve Fund and applied on future Distribution Dates to pay any Carryover Shortfall Amounts on the Class of Certificates related to that Corridor Contract. Any amounts remaining in the Corridor Contract Reserve Fund related to a particular Corridor Contract, after the Class Certificate Balance of the Certificates related to that Corridor Contract have been reduced to zero, will be distributed to Bank of America Securities LLC.
