Credit Enhancement. The “Credit Enhancement” shall mean a Letter of Credit from an FDIC approved financial institution in an amount equal to product of twelve multiplied by the monthly Base Rent amount as of delivery of the Credit Notice. Such Credit Enhancement shall be to the benefit of Landlord which Landlord may draw upon in the event an Event of Default has occurred and is continuing beyond any applicable cure period under the Lease. The Credit Enhancement shall remain in effect until Tenant delivers two consecutive quarterly financial statements indicating that Tenant’s unrestricted cash position is greater than or equal to $2,000,000.00. Following such delivery of consecutive financial statements, Landlord shall return the Credit Enhancement to Tenant. Such Credit Enhancement shall provide that Landlord may draw on the Credit Enhancement by furnishing a sight draft in the amount demanded together with a statement certified by Landlord that (1) an Event of Default has occurred and is continuing under the Lease, or Landlord is barred by any applicable, bankruptcy or creditors’ rights law from declaring an Event of Default has occurred, and (2) Landlord is entitled to the requested amount as either payment of any sum in default or as reimbursement for any sum which Landlord was required to spend by reason of default by Tenant under this Lease. The Credit Enhancement shall be valid for at least one (1) year and Tenant shall cause the Credit Enhancement to be renewed no later than thirty (30) days prior to its expiration date and any renewal shall be for at least one (1) year. If Tenant fails to renew an expiring Credit Enhancement (and furnish Landlord the renewal document) at least thirty (30) days prior to an expiration, Landlord, with not less than ten (10) days prior written notice to Tenant, shall be entitled thereafter to draw upon the Credit Enhancement in the full amount of the Credit
Credit Enhancement. Senior/Subordinated: Shifting interest Cut-off Date: ------------ The Cut-off Date is December 1, 2001. Distribution Date: ----------------- The 25th day of each month (or, if such 25th day is not a business day, the business day immediately following) commencing in January 2002.
Credit Enhancement. Excess spread, overcollateralization, cross-collateralization and subordination as described in the related Prospectus Supplement. Also, the Certificates benefit from an interest rate swap agreement. Closing Date: April 30, 2007. * Please contact Bear, Xxxxxxx & Co. Inc. for pricing information The undersigned, as Underwriter, agrees, subject to the terms and provisions of the above-referenced Underwriting Agreement, which is incorporated herein in its entirety and made a part hereof, to purchase the respective principal amounts of the Classes of the above-referenced Series of Certificates as set forth herein. BEAR, XXXXXXX & CO. INC. By: /s/ Xxxx X. Xxxxxxxx Name: Xxxx X. Xxxxxxxx Title: Senior Managing Director Accepted: BEAR XXXXXXX ASSET BACKED SECURITIES I LLC By: /s/ Xxxxxx X. Xxxxxxxxx, Xx. Name: Xxxxxx X. Xxxxxxxxx, Xx. Title: Vice President : Annex A Mortgage Loan Schedule [Available Upon Request]
Credit Enhancement. To the extent provided in the Trust Agreement, one or more forms of Credit Enhancement shall be maintained for the benefit of the Certificateholders. The Trust Agreement shall specify with respect to each such form of Credit Enhancement, among other things, the manner in which any funds relating to such Credit Enhancement are to be invested, the source and manner of payment of any Credit Enhancement Fees, the circumstances, if any, under which supplemental or replacement Credit Enhancement shall be obtained, the manner in which such Credit Enhancement is to be enforced, and whether such Credit Enhancement covers or will cover other Series of Certificates.
Credit Enhancement. Credit Enhancement (CE) information, both on a loan level basis and on a pool level basis, supplied by the MPF Provider on behalf of the MPF Bank is proprietary information. This information is shared with the PFI for the sole purpose of assisting the PFI to evaluate whether to sell the mortgages to the MPF Bank and for the PFI to determine the appropriate capital treatment for such mortgages, and for no other purpose, including but not limited to valuation for market securitization purposes. The MPF Bank and MPF Provider, their vendors, licensors, and all Affiliates thereof do not and cannot warrant the accuracy, adequacy or completeness of, or performance or results that may be obtained by using the MPF Provider’s system and/or any information or data generated with the use of this system. The information and data generated by the MPF Provider’s system are provided “as is” without any express or implied warranties, including but not limited to any implied warranties of merchantability or fitness for any particular purpose or use. The MPF Bank and MPF Provider, their vendors, licensors, and all Affiliates thereof shall not be liable to any PFI or anyone else for any inaccuracy, delay, interruption in service, error or omission, regardless of cause, or for any resulting damages relating to or arising from the MPF Provider’s system and/or any information or data generated with the use of this system. Neither the MPF Bank, MPF Provider, their vendors, licensors, and all Affiliates thereof nor anyone else who has been involved in the creation or production of the MPF Provider’s system and/or the delivery of the information and data generated by the system or any component of the forgoing shall be liable for any indirect, incidental, special, punitive, consequential or similar damages, such as but not limited to, loss of anticipated profits or benefits resulting from the use of the information and data generated by the MPF Provider’s system, even if any of them has been advised as to the possibility of such damages. This limitation of liability shall apply to any claim or cause whatsoever whether such claim or cause arises in contract, tort or otherwise. In the event that liability is nevertheless imposed, the cumulative liability of the MPF Bank and MPF Provider, their vendors, licensors, and all Affiliates thereof shall not exceed $20,000 in the aggregate. The Loan Level Credit Enhancement amount for a Mortgage Loan as determined by the MPF credit enhancem...
Credit Enhancement. Senior/Subordinated: Shifting interest. Cut-off Date: ------------ The Cut-off Date is May 1, 2003. Remittance Date: --------------- The 25th day of each month, or if such 25th day is not a Business Day, the first Business Day immediately following, commencing June 25, 2003. Purchase Price: -------------- The purchase price payable by the Underwriter for the Certificates is approximately 101.19% of the aggregate principal balance of the Certificates as of the Closing Date plus accrued interest, as applicable, from May 1, 2003 up to but not including the Closing Date. Information Provided by Credit Suisse First Boston LLC: ------------------------------------------------------ The information described in the last sentence of Section 6(b) of the Underwriting Agreement constitutes information furnished in writing by Credit Suisse First Boston LLC on behalf of the Underwriters expressly for use in the Registration Statement relating to such Series of Certificates as originally filed or in any amendment thereof, any related preliminary prospectus or the Prospectus or in any amendment thereof or supplement thereto, as the case may be.