Common use of Interest Coverage Accounts Clause in Contracts

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. (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 Xxxxx Fargo Bank Minnesota, National Association, as trustee for the registered holders of Option One Mortgage Loan Trust 20032002-16, Asset-Backed Certificates, Series 20032002-16" (the "Group I Interest Coverage Account") and "Group II Interest Coverage Account, Wxxxx Xxxxx Fargo Bank Minnesota, National Association, as trustee for the registered holders of Option One Mortgage Loan Trust 20032002-16, Asset-Backed Certificates, Series 20032002-16" (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. (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 Xxxxx Fargo Bank Minnesota, National Association, as trustee for the registered holders of Option One Mortgage Loan Trust 20032002-15, Asset-Backed Certificates, Series 20032002-15" (the "Group I Interest Coverage Account") and "Group II Interest Coverage Account, Wxxxx Xxxxx Fargo Bank Minnesota, National Association, as trustee for the registered holders of Option One Mortgage Loan Trust 20032002-15, Asset-Backed Certificates, Series 20032002-15" (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 Account, and retain therein the applicable Group I Interest Coverage Amount and the Group II Interest Coverage Amount, respectively, 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 and the Guarantor 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 Xxxxx Fargo Bank Minnesota, National Association, as trustee for the registered holders of Option One Mortgage Loan Trust 2003-13, Asset-Backed Certificates, Series 2003-13" (the "Group I Interest Coverage Account") and "Group II Interest Coverage Account, Wxxxx Xxxxx Fargo Bank Minnesota, National Association, as trustee for the registered holders of Option One Mortgage Loan Trust 2003-13, Asset-Backed Certificates, Series 2003-13" (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. (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 Xxxxx Fargo Bank Minnesota, National Association, as trustee for the registered holders of Option One Mortgage Loan Trust 2003-15, Asset-Backed Certificates, Series 2003-15" (the "Group I Interest Coverage Account") and "Group II Interest Coverage Account, Wxxxx Xxxxx Fargo Bank Minnesota, National Association, as trustee for the registered holders of Option One Mortgage Loan Trust 2003-15, Asset-Backed Certificates, Series 2003-15" (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.