Common use of Interest Coverage Accounts Clause in Contracts

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) 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 Xxxxx Fargo Bank, N.A., as Xxxxxee Trustee for the registered holders of Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 20042005-WHQ2" WCW1” (the "“Group I Interest Coverage Account"”), (ii) "Group II Pre-Funding Interest Coverage Account, Wells Xxxxx Fargo Bank, N.A., as Xxxxxee Trustee for the registered holders of Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 20042005-WHQ2" WCW1” (the "“Group II Pre-Funding I Interest Coverage Account"”) and (iii) "“Group III Pre-Funding Interest Coverage Account, Wells Xxxxx Fargo Bank, N.A., as Xxxxxee Trustee for the registered holders of Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 20042005-WHQ2" WCW1” (the "“Group III Pre-Funding Interest Coverage Account"”). The Trustee shall, promptly upon receipt, deposit in each Interest Coverage Account and retain therein the related amount 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. (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 Xxxxx Fargo Bank, N.A., as Xxxxxee Trust Administrator for the registered holders of Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-WHQ2WWF1" (the "Group I Interest Coverage Account"), (ii) "Group II Pre-Funding Account, Wells Xxxxx Fargo Bank, N.A., as Xxxxxee Trust Administrator for the registered holders of Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-WHQ2WWF1" (the "Group II Pre-Funding Account") and (iii) "Group III Pre-Funding Account, Wells Xxxxx Fargo Bank, N.A., as Xxxxxee Trust Administrator for the registered holders of Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-WHQ2WWF1" (the "Group III Pre-Funding Account"). The Trustee Trust Administrator shall, promptly upon receipt, deposit in each Interest Coverage Account and retain therein the related amount remitted on the Closing Date to the Trustee Trust Administrator by the Depositor. Funds deposited in the Interest Coverage Accounts shall be held in trust by the Trustee Trust Administrator for the Certificateholders for the uses and purposes set forth herein

Interest Coverage Accounts. (a) If amounts are required to be deposited in the Interest Coverage Accounts, no No later than the Closing Date, the Trustee shall establish and maintain a three segregated non-interest bearing trust account accounts that is an are Eligible AccountAccounts, which shall be titled (i) "Group I Interest Coverage Account, Wells Fargo Bank, N.A.Deutsche Bank National Trust Company, as Xxxxxee Trustee for the registered holders of Park Place Securities, Ameriquest Mortgage Securities Inc., Asset-Backed Pass-Through Certificates, Series 20042002-WHQ24" (the "Group I Interest Coverage Account"), (ii) "Group II Pre-Funding Interest Coverage Account, Wells Fargo Bank, N.A.Deutsche Bank National Trust Company, as Xxxxxee Trustee for the registered holders of Park Place Securities, Ameriquest Mortgage Securities Inc., Asset-Backed Pass-Through Certificates, Series 20042002-WHQ24" (the "Group II Pre-Funding Interest Coverage Account") and (iii) "Group III Pre-Funding Interest Coverage Account, Wells Fargo Bank, N.A.Deutsche Bank National Trust Company, as Xxxxxee Trustee for the registered holders of Park Place Securities, Ameriquest Mortgage Securities Inc., Asset-Backed Pass-Pass- Through Certificates, Series 20042002-WHQ24" (the "Group III Pre-Funding Interest Coverage Account"). The Trustee shall, promptly upon receipt, deposit in each the applicable Interest Coverage Account and retain therein the related amount Group I Interest Coverage Amount, the Group II Interest Coverage Amount and the Group II Interest Coverage Amount, as applicable, 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) 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 Xxxxx Fargo Bank, N.A., as Xxxxxee Trustee for the registered holders of Park Place Securities, Inc."First Franklin Mortgage Loan Trust 2004-FF11, Asset-Backed Pass-Through Certificates, Series 2004-WHQ2FF11" (the "Group I Interest Coverage Account"), ) and (ii) "Group II Pre-Funding Account, Wells Xxxxx Fargo Bank, N.A., as Xxxxxee Trustee for the registered holders of Park Place Securities, Inc."First Franklin Mortgage Loan Trust 2004-FF11, Asset-Backed Pass-Through Certificates, Series 2004-WHQ2FF11" (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 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