Common use of Interest Coverage Account Clause in Contracts

Interest Coverage Account. (a) No later than the Closing Date, the Paying Agent shall establish and maintain a segregated trust account or a sub account of a trust account, which shall be titled "Interest Coverage Account, Xxxxx Fargo Bank, National Association as trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding Trust 2007-AR4, Mortgage Pass-Through Certificates, Series 2007-AR4 - Interest Coverage Account". The Interest Coverage Account shall be an Eligible Account or a sub account of an Eligible Account. The Paying Agent shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount remitted on the Closing Date to the Paying Agent by the Depositor and all income and gain realized from investment of funds deposited in the Pre-Funding Account pursuant to Section 4.10(b). Funds deposited in the Interest Coverage Account shall be held in trust by the Paying Agent for the Certificateholders for the uses and purposes set forth herein.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2007-Ar4), Grantor Trust Agreement (Bear Stearns Mortgage Funding Trust 2007-Ar4)

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Interest Coverage Account. (a) No later than the Closing Date, the Paying Agent shall establish and maintain a segregated trust account or a sub account of a trust account, which shall be titled "Interest Coverage Account, Xxxxx Fargo Bank, U.S. Bank National Association as trustee f/b/o for the benefit of holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding Trust 2007ALT-AR4A Trust, Mortgage Pass-Through Certificates, Series 20072006-AR4 - 3" (the "Interest Coverage Account"). The Interest Coverage Account shall be an Eligible Account or a sub account of an Eligible Account. The Paying Agent shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount for each Sub-Loan Group remitted on the Closing Date to the Paying Agent by the Depositor and all income and gain realized from investment of funds deposited in the Pre-Funding Account pursuant to Section 4.10(b4.08(b). Funds deposited in the Interest Coverage Account shall be held in trust by the Paying Agent for the Certificateholders for the uses and purposes set forth herein.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-3), Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-3)

Interest Coverage Account. (a) No later than the Closing Date, the Paying Agent shall establish and maintain a segregated trust account or a sub sub-account of a trust account, which shall be titled "Interest Coverage Account, Xxxxx Wxxxx Fargo Bank, National Association Association, as trustee f/b/o for the benefit of holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx GreenPoint Mortgage Funding Trust 2007-2005- AR4, Mortgage Pass-Through Certificates, Series 20072005-AR4 - AR4” (the “Interest Coverage Account"”). The Interest Coverage Account shall be an Eligible Account or a sub sub-account of an Eligible Account. The Paying Agent shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount for each Loan Group remitted on the Closing Date to the Paying Agent by the Depositor and all income and gain realized from investment of funds deposited in the Pre-Funding Account pursuant to Section 4.10(b4.07(b). Funds deposited in the Interest Coverage Account shall be held in trust by the Paying Agent for the related Certificateholders for the uses and purposes set forth herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (GreenPoint MTA Trust 2005-Ar4)

Interest Coverage Account. (a) No later than the Closing Date, the Paying Agent shall establish and maintain a segregated trust account or a sub account of a trust account, which shall be titled "Interest Coverage Account, Xxxxx Fargo JPMorgan Chase Bank, National Association as trustee f/b/o for the benefit of holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding Trust 2007ALT-AR4A Trust, Mortgage Pass-Through Certificates, Series 20072005-AR4 - 7” (the “Interest Coverage Account"”). The Interest Coverage Account shall be an Eligible Account or a sub account of an Eligible Account. The Paying Agent shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount for each Sub-Loan Group remitted on the Closing Date to the Paying Agent by the Depositor and all income and gain realized from investment of funds deposited in the Pre-Funding Account pursuant to Section 4.10(b4.09(b). Funds deposited in the Interest Coverage Account shall be held in trust by the Paying Agent for the Certificateholders for the uses and purposes set forth herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust, Series 2005-7)

Interest Coverage Account. (a) No later than the Closing Date, the Paying Agent shall establish and maintain a segregated trust account or a sub sub-account of a trust account, which shall be titled "Interest Coverage Account, Xxxxx Fargo JPMorgan Chase Bank, National Association Association, as trustee f/b/o for the benefit of holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding GreenPoint MTA Trust 20072005-AR4AR1, 70 Mortgage Pass-Through Certificates, Series 20072005-AR4 - AR1” (the “Interest Coverage Account"”). The Interest Coverage Account shall be an Eligible Account or a sub sub-account of an Eligible Account. The Paying Agent shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount remitted on the Closing Date to the Paying Agent by the Depositor and all income and gain realized from investment of funds deposited in the Pre-Funding Account pursuant to Section 4.10(b4.07(b). Funds deposited in the Interest Coverage Account shall be held in trust by the Paying Agent for the Certificateholders for the uses and purposes set forth herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (GreenPoint MTA Trust, Mortgage Pass-Through Certificates, Series 2005-Ar1)

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Interest Coverage Account. (a) No later than the Closing Date, the Paying Agent shall establish and maintain a segregated trust account or a sub sub-account of a trust account, which shall be titled "Interest Coverage Account, Xxxxx Fargo Bank, National Association Association, as trustee f/b/o for the benefit of holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding GreenPoint MTA Trust 20072005-AR4AR3, Mortgage Pass-Through Certificates, Series 20072005-AR4 - AR3” (the “Interest Coverage Account"”). The Interest Coverage Account shall be an Eligible Account or a sub sub-account of an Eligible Account. The Paying Agent shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount for each Loan Group remitted on the Closing Date to the Paying Agent by the Depositor and all income and gain realized from investment of funds deposited in the Pre-Funding Account pursuant to Section 4.10(b4.07(b). Funds deposited in the Interest Coverage Account shall be held in trust by the Paying Agent for the related Certificateholders for the uses and purposes set forth herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (GreenPoint MTA Trust 2005-Ar3)

Interest Coverage Account. (a) No later than the Closing Date, the Paying Agent shall establish and maintain a segregated trust account or a sub account of a trust account, which shall be titled "Interest Coverage Account, Xxxxx Fargo Bank, National Association as trustee f/b/o holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Structured Asset Mortgage Funding Investments II Trust 2007-AR4, Mortgage Pass-Through Certificates, Series 2007-AR4 - Interest Coverage Account". The Interest Coverage Account shall be an Eligible Account or a sub account of an Eligible Account. The Paying Agent shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount remitted on the Closing Date to the Paying Agent by the Depositor and all income and gain realized from investment of funds deposited in the Pre-Funding Account pursuant to Section 4.10(b). Funds deposited in the Interest Coverage Account shall be held in trust by the Paying Agent for the Certificateholders for the uses and purposes set forth herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2007-Ar4)

Interest Coverage Account. (a) No later than the Closing Date, the Paying Agent shall establish and maintain a segregated trust account or a sub account of a trust account, which shall be titled "Interest Coverage Account, Xxxxx Fargo JPMorgan Chase Bank, National Association as trustee f/b/o for the benefit of holders of Structured Asset Mortgage Investments II Inc., Bear Xxxxxxx Mortgage Funding Trust 2007ALT-AR4A Trust, Mortgage Pass-Through Certificates, Series 20072005-AR4 - 9" (the "Interest Coverage Account"). The Interest Coverage Account shall be an Eligible Account or a sub account of an Eligible Account. The Paying Agent shall, promptly upon receipt, deposit in the Interest Coverage Account and retain therein the Interest Coverage Amount for each Loan Group or Sub-Loan Group remitted on the Closing Date to the Paying Agent by the Depositor and all income and gain realized from investment of funds deposited in the Pre-Funding Account pursuant to Section 4.10(b4.09(b). Funds deposited in the Interest Coverage Account shall be held in trust by the Paying Agent for the Certificateholders for the uses and purposes set forth herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust, Series 2005-9)

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