Interest Coverage Accounts. (a) If amounts are required to be deposited in the Interest Coverage Accounts, no later than the Closing Date, the Trustee shall establish and maintain a segregated non-interest bearing trust account that is an Eligible Account, which shall be titled (i) “Group I Interest Coverage Account, Deutsche Bank National Trust Company, as trustee for the registered holders of Fremont Home Loan Trust 2006-3, Asset-Backed Certificates, Series 2006-3” (the “Group I Interest Coverage Account”) and (ii) “Group II Interest Coverage Account, Deutsche Bank National Trust Company, as trustee for the registered holders of Fremont Home Loan Trust 2006-3, Asset-Backed Certificates, Series 2006-3” (the “Group II Interest Coverage Account”). The Trustee shall, promptly upon receipt, deposit in each Interest Coverage Account and retain therein the related Interest Coverage Amount, remitted on the Closing Date to the Trustee by the Depositor. Funds deposited in the Interest Coverage Accounts shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein.
Interest Coverage Accounts. 155 SECTION 4.09. Swap Account.....................................................................157 SECTION 4.10. Net WAC Rate Carryover Reserve Account...........................................157 ARTICLE V THE CERTIFICATES 159 SECTION 5.01. The Certificates.................................................................159 SECTION 5.02. Registration of Transfer and Exchange of Certificates............................161 SECTION 5.03. Mutilated, Destroyed, Lost or Stolen Certificates................................166 SECTION 5.04. Persons Deemed Owners............................................................166 SECTION 5.05. Certain Available Information....................................................166 ARTICLE VI THE DEPOSITOR AND THE MASTER SERVICER 168
Interest Coverage Accounts. (a) If amounts are required to be deposited in the Interest Coverage Accounts, no later than the Closing Date, the Trustee shall establish and maintain a segregated non-interest bearing trust account that is an Eligible Account, which shall be titled (i) "Group I Interest Coverage Account, Wells Fargo Bank, N.A., as Xxxxxee for the registered holders of Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-WHQ2" (the "Group I Interest Coverage Account"), (ii) "Group II Pre-Funding Account, Wells Fargo Bank, N.A., as Xxxxxee for the registered holders of Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-WHQ2" (the "Group II Pre-Funding Account") and (iii) "Group III Pre-Funding Account, Wells Fargo Bank, N.A., as Xxxxxee for the registered holders of Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-WHQ2" (the "Group III Pre-Funding Account"). The Trustee shall, promptly upon receipt, deposit in each Interest Coverage Account and retain therein the related amount remitted on the Closing Date to the Trustee by the Depositor. Funds deposited in the Interest Coverage Accounts shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein
Interest Coverage Accounts. (a) No later than the Closing Date, the Trustee shall establish and maintain two segregated trust accounts that are Eligible Accounts, which shall be titled "Group I Interest Coverage Account, Wxxxx Fargo Bank Minnesota, National Association, as trustee for the registered holders of Option One Mortgage Loan Trust 2003-1, Asset-Backed Certificates, Series 2003-1" (the "Group I Interest Coverage Account") and "Group II Interest Coverage Account, Wxxxx Fargo Bank Minnesota, National Association, as trustee for the registered holders of Option One Mortgage Loan Trust 2003-1, Asset-Backed Certificates, Series 2003-1" (the "Group II Interest Coverage Account"). The Trustee shall, promptly upon receipt, deposit in the Group I Interest Coverage Account and the Group II Interest Coverage Account and retain therein the applicable Interest Coverage Amount remitted on the Closing Date to the Trustee by the Depositor. Funds deposited in the Interest Coverage Accounts shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein.
Interest Coverage Accounts. SECTION 4.07 Net WAC Rate Carryover Reserve Account.
Interest Coverage Accounts. (a) No later than the Closing Date, the Trustee shall establish and maintain with itself two separate, segregated trust accounts, which shall be Eligible Accounts, titled "Group I Interest Coverage Account, Norwest Bank Minnesota, N.A., as trustee for the registered holders of Southern Pacific Mortgage Loan Asset-Backed Pass-Through Certificates, Series 1996-4" (the "Group I Interest Coverage Account") and "Group II Interest Coverage Account, Norwest Bank Minnesota, N.A., as trustee for the registered holders of Southern Pacific Mortgage Loan Asset-Backed Pass-Through Certificates, Series 1996-4" (the "Group II Interest Coverage Account"). The Trustee shall, promptly upon receipt, deposit (a) in the Group I Interest Coverage Account and retain therein the Group I Interest Coverage Amount remitted on the Closing Date to the Trustee by the Company and (b) in the Group II Interest Coverage Account and retain therein the Group II Interest Coverage Amount remitted on the Closing Date to the Trustee by the Company. In addition, the Trustee shall deposit into the Group I Interest Coverage Account all income and gain on investments in the Group I Pre-Funding Account and shall deposit into the Group II Interest Coverage Account all income and gain on investments in the Group II Pre-Funding Account pursuant to Section 6.12. Funds deposited in the Group I Interest Coverage Account shall be held in trust by the Trustee for the Holders of the Group I Certificates and the Certificate Insurer for the uses and purposes set forth herein. Funds deposited in the Group II Interest Coverage Account shall be held in trust by the Trustee for the Holders of the Group II Certificates and the Certificate Insurer for the uses and purposes set forth herein. For federal income tax purposes, the Company shall be the owner of the Interest Coverage Accounts and shall report all items of income, deduction, gain or loss arising therefrom. The Company shall deposit in the related Interest Coverage Account the amount of any net loss incurred in respect of any such Permitted Investment immediately upon realization of such loss without any right of reimbursement therefor.
Interest Coverage Accounts. 90 SECTION 4.12. Net WAC Rate Carryover Reserve Account.........................................................91 SECTION 4.13. Excess Net WAC Rate Reserve Account............................................................92 SECTION 4.14.
Interest Coverage Accounts. 139 SECTION 4.09. [Reserved]...............................................................................140 SECTION 4.10. Net WAC Rate Carryover Reserve Account...................................................140 ARTICLE V THE CERTIFICATES 142 SECTION 5.01. The Certificates.........................................................................142 SECTION 5.02. Registration of Transfer and Exchange of Certificates....................................144 SECTION 5.03. Mutilated, Destroyed, Lost or Stolen Certificates........................................150 SECTION 5.04. Persons Deemed Owners....................................................................150 SECTION 5.05. Certain Available Information............................................................150
Interest Coverage Accounts. (a) The Servicer may direct any depository institution maintaining the Collection Account and any REO Account to invest the funds on deposit in such accounts, the Depositor may direct any depository institution maintaining the Pre-Funding Accounts and the Interest Coverage Accounts, if any, and the Trustee may invest the funds on deposit in the Distribution Account or hold such funds uninvested (each such account, for the purposes of this Section 3.12, an "Investment Account"). All investments pursuant to this Section 3.12 shall be in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand, (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Trustee is the obligor thereon or if such investment is managed or advised by a Person other than the Trustee or an Affiliate of the Trustee, and (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Trustee is the obligor thereon or if such investment is managed or advised by the Trustee or any Affiliate. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trustee (in its capacity as such), or in the name of a nominee of the Trustee. The Trustee shall be entitled to sole possession (except with respect to investment direction of funds held in the Collection Account, any REO Account and the Pre-Funding Accounts, and any income and gain realized thereon) over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trustee or its nominee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trustee shall:
Interest Coverage Accounts. (a) If amounts are required to be deposited in the Interest Coverage Accounts, no later than the Closing Date, the Trustee shall establish and maintain a segregated non-interest bearing trust account that is an Eligible Account, which shall be titled (i) "Group I Interest Coverage Account, Deutsche Bank National Trust Company, as trustee for the registered holders of Soundview Home Loan Trust 2005-1, Asset-Backed Certificates, Series 2005-1" (the "Group I Interest Coverage Account") and (ii) "Group II Interest Coverage Account, Deutsche Bank National Trust Company, as trustee for the registered holders of Soundview Home Loan Trust 2005-1, Asset-Backed Certificates, Series 2005-1" (the "Group II Interest Coverage Account"). The Trustee shall, promptly upon receipt, deposit in each Interest Coverage Account and retain therein the related Interest Coverage Amount, remitted on the Closing Date to the Trustee by the Depositor. Funds deposited in the Interest Coverage Accounts shall be held in trust by the Trustee for the Certificateholders for the uses and purposes set forth herein
