Common use of Final Maturity Reserve Trust Clause in Contracts

Final Maturity Reserve Trust. (a) On the Closing Date, there is hereby established a separate common law trust (the “Final Maturity Reserve Trust”) into which the Depositor shall deposit $1,000. The Final Maturity Reserve Trust shall be maintained by the Final Maturity Reserve Trust Trustee, who, initially, shall be the Trustee. On the Closing Date, the Final Maturity Reserve Trust Trustee shall establish and maintain in its name, a separate non-interest bearing account for the benefit of the Holders of the Class A Certificates, the Mezzanine Certificates and the Class C Certificates (the “Final Maturity Reserve Account”), into which the Depositor shall initially deposit $1,000. The Final Maturity Reserve Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee or of the Final Maturity Reserve Trust Trustee held pursuant to this Agreement.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-8), Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-6), Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-7)

AutoNDA by SimpleDocs

Final Maturity Reserve Trust. (a) On the Closing Date, there is hereby established a separate common law trust (the “Final Maturity Reserve Trust”) into which the Depositor shall deposit $1,000. The Final Maturity Reserve Trust shall be maintained by the Final Maturity Reserve Trust Trustee, who, initially, shall be the Trustee. On the Closing Date, the Final Maturity Reserve Trust Trustee shall establish and maintain in its name, a separate non-interest bearing account for the benefit of the Holders of the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates (the “Final Maturity Reserve Account”), into which the Depositor shall initially deposit $1,000. The Final Maturity Reserve Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee or of the Final Maturity Reserve Trust Trustee held pursuant to this Agreement.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-11), Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-9), Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-10)

Final Maturity Reserve Trust. (a) On the Closing Date, there is hereby established a separate common law trust under the laws of the State Delaware for the benefit of the Holders of the Class A Certificates, the Mezzanine Certificates and the Class C Certificates (the “Final Maturity Reserve Trust”) into which the Depositor shall deposit $1,000. The Final Maturity Reserve Trust shall be maintained by the Final Maturity Reserve Trust Trustee, who, initially, shall be the Trustee. On the Closing Date, the Final Maturity Reserve Trust Trustee shall establish and maintain in its name, a separate non-interest bearing account for the benefit of the Holders of the Class A Certificates, the Mezzanine Certificates and the Class C Certificates (the “Final Maturity Reserve Account”), into which the Depositor shall initially deposit $1,000. The Final Maturity Reserve Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee or of the Final Maturity Reserve Trust Trustee held pursuant to this Agreement.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He2), Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He3), Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He2)

Final Maturity Reserve Trust. (a) On the Closing Date, there is hereby established a separate common law trust under the laws of the State Delaware for the benefit of the Holders of the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class C Certificates (the “Final Maturity Reserve Trust”) into which the Depositor shall deposit $1,000. The Final Maturity Reserve Trust shall be maintained by the Final Maturity Reserve Trust Trustee, who, initially, shall be the Trustee. On the Closing Date, the Final Maturity Reserve Trust Trustee shall establish and maintain in its name, a separate non-interest bearing account for the benefit of the Holders of the Class A Certificates, the Mezzanine Certificates and the Class C Certificates (the “Final Maturity Reserve Account”), into which the Depositor shall initially deposit $1,000. The Final Maturity Reserve Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee or of the Final Maturity Reserve Trust Trustee held pursuant to this Agreement.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He1), Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He4)

AutoNDA by SimpleDocs

Final Maturity Reserve Trust. (a) On the Closing Date, there is hereby established a separate common law trust (the "Final Maturity Reserve Trust") into which the Depositor shall deposit $1,0001000. The Final Maturity Reserve Trust shall be maintained by the Final Maturity Reserve Trust Trustee, who, initially, shall be the Trustee. On the Closing Date, the Final Maturity Reserve Trust Trustee shall establish and maintain in its name, a separate non-interest bearing account for the benefit of the Holders of the Class A Certificates, the Mezzanine Class M Certificates and the Class C SB Certificates (the "Final Maturity Reserve Account”Fund"), into which the Depositor shall initially deposit $1,0001000. The Final Maturity Reserve Account Fund shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee or of the Final Maturity Reserve Trust Trustee held pursuant to this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RAMP Series 2006-Rs4 Trust)

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