Common use of Limited Guaranties Clause in Contracts

Limited Guaranties. a. CLASS HI: B-2 LIMITED GUARANTY (i) No later than the third Business Day prior to each Payment Date, the Servicer (if other than the Company) shall notify the Company of the amount of the Class HI: B-2 Guaranty Payment (if any) for such Payment Date. Not later than the Business Day preceding each Payment Date, the Company shall deposit the Class HI: B-2 Guaranty Payment, if any, for such Payment Date into the Certificate Account. Any Class HI: B-2 Guaranty Payment shall be distributable to Class HI: B-2 Certificateholders pursuant to Section 8.01. (ii) The obligations of the Company under this Section 8.03(a) shall not terminate upon or otherwise be affected by a Service Transfer pursuant to Article VII of this Agreement. (iii) The obligation of the Company to provide the Class HI: B-2 Limited Guaranty under this Agreement shall terminate on the Final Payment Date. (iv) The obligation of the Company to make the Class HI: B-2 Guaranty Payments described in subsection (i) above shall be unconditional and irrevocable. The Company acknowledges that its obligation to make the Class HI: B-2 Guaranty Payments described in subsection (i) above shall be deemed a guaranty by the Company of indebtedness of the Trust for money borrowed from the Class HI: B-2 Certificateholders. (v) If the Company fails to make a Class HI: B-2 Guaranty Payment in whole or in part, the Company shall promptly notify the Trustee, and the Trustee shall promptly notify S&P and Fitch. (vi) In consideration of providing the Class HI: B-2 Limited Guaranty, the Company shall be entitled to the Class HI: B-2 Guaranty Fee payable in accordance with Section 8.04(b)(15). b. CLASS HE: B-2 LIMITED GUARANTY (i) No later than the third Business Day prior to each Payment Date, the Servicer (if other than the Company) shall notify the Company of the amount of the Class HE: B-2 Guaranty Payment (if any) for such Payment Date. Not later than the Business Day preceding each Payment Date, the Company shall deposit the Class HE: B-2 Guaranty Payment, if any, for such Payment Date into the Certificate Account. Any Class HE: B-2 Guaranty Payment shall be distributable to Class HE: B-2 Certificateholders pursuant to Section 8.01. (ii) The obligations of the Company under this Section 8.03(b) shall not terminate upon or otherwise be affected by a Service Transfer pursuant to Article VII of this Agreement. (iii) The obligation of the Company to provide the Class HE: B-2 Limited Guaranty under this Agreement shall terminate on the Final Payment Date. (iv) The obligation of the Company to make the Class HE: B-2 Guaranty Payments described in subsection (i) above shall be unconditional and irrevocable. The Company acknowledges that its obligation to make the Class HE: B-2 Guaranty Payments described in subsection (i) above shall be deemed a guaranty by the Company of indebtedness of the Trust for money borrowed from the Class HE: B-2 Certificateholders. (v) If the Company fails to make a Class HE: B-2 Guaranty Payment in whole or in part, the Company shall promptly notify the Trustee, and the Trustee shall promptly notify S&P and Fitch. (vi) In consideration of providing the Class HE: B-2 Limited Guaranty, the Company shall be entitled to the Class HE: B-2 Guaranty Fee payable in accordance with Section 8.04(d)(15).

Limited Guaranties. a. CLASS Class HI: B-2 LIMITED GUARANTYLimited Guaranty ------------------------------ (i) 1. No later than the third Business Day prior to each Payment Date, the Servicer (if other than the Company) shall notify the Company of the amount of the Class HI: B-2 Guaranty Payment (if any) for such Payment Date. Not later than the Business Day preceding each Payment Date, the Company shall deposit the Class HI: B-2 Guaranty Payment, if any, for such Payment Date into the Certificate Account. Any Class HI: B-2 Guaranty Payment shall be distributable to Class HI: B-2 Certificateholders pursuant to Section 8.01. (ii) 2. The obligations of the Company under this Section 8.03(a) shall not terminate upon or otherwise be affected by a Service Transfer pursuant to Article VII of this Agreement. (iii) 3. The obligation of the Company to provide the Class HI: B-2 Limited Guaranty under this Agreement shall terminate on the Final Payment Date. (iv) 4. The obligation of the Company to make the Class HI: B-2 Guaranty Payments described in subsection (i1) above shall be unconditional and irrevocable. The Company acknowledges that its obligation to make the Class HI: B-2 Guaranty Payments described in subsection (i1) above shall be deemed a guaranty by the Company of indebtedness of the Trust for money borrowed from the Class HI: B-2 Certificateholders. (v) 5. If the Company fails to make a Class HI: B-2 Guaranty Payment in whole or in part, the Company shall promptly notify the Trustee, and the Trustee shall promptly notify S&P and Fitch. (vi) 6. In consideration of providing the Class HI: B-2 Limited Guaranty, the Company shall be entitled to the Class HI: B-2 Guaranty Guarantee Fee payable in accordance with Section 8.04(b)(15). b. CLASS HE: B-2 LIMITED GUARANTY (i) No later than the third Business Day prior to each Payment Date, the Servicer (if other than the Company) shall notify the Company of the amount of the Class HE: B-2 Guaranty Payment (if any) for such Payment Date. Not later than the Business Day preceding each Payment Date, the Company shall deposit the Class HE: B-2 Guaranty Payment, if any, for such Payment Date into the Certificate Account. Any Class HE: B-2 Guaranty Payment shall be distributable to Class HE: B-2 Certificateholders pursuant to Section 8.01. (ii) The obligations of the Company under this Section 8.03(b) shall not terminate upon or otherwise be affected by a Service Transfer pursuant to Article VII of this Agreement. (iii) The obligation of the Company to provide the Class HE: B-2 Limited Guaranty under this Agreement shall terminate on the Final Payment Date. (iv) The obligation of the Company to make the Class HE: B-2 Guaranty Payments described in subsection (i) above shall be unconditional and irrevocable. The Company acknowledges that its obligation to make the Class HE: B-2 Guaranty Payments described in subsection (i) above shall be deemed a guaranty by the Company of indebtedness of the Trust for money borrowed from the Class HE: B-2 Certificateholders. (v) If the Company fails to make a Class HE: B-2 Guaranty Payment in whole or in part, the Company shall promptly notify the Trustee, and the Trustee shall promptly notify S&P and Fitch. (vi) In consideration of providing the Class HE: B-2 Limited Guaranty, the Company shall be entitled to the Class HE: B-2 Guaranty Fee payable in accordance with Section 8.04(d)(15).

Limited Guaranties. a. CLASS Class HI: B-2 LIMITED GUARANTYLimited Guaranty ------------------------------ (i) No later than the third Business Day prior to each Payment Date, the Servicer (if other than the Company) shall notify the Company of the amount of the Class HI: B-2 Guaranty Payment (if any) for such Payment Date. Not later than the Business Day preceding each Payment Date, the Company shall deposit the Class HI: B-2 Guaranty Payment, if any, for such Payment Date into the Certificate Collection Account. Any Class HI: B-2 Guaranty Payment shall be distributable to Class HI: B-2 Certificateholders pursuant to Section 8.015.2 of the Trust Agreement. (ii) The obligations of the Company under this Section 8.03(a) 6.05 shall not terminate upon or otherwise be affected by a Service Transfer pursuant to Article VII of this Agreement. (iii) The obligation of the Company to provide the Class HI: B-2 Limited Guaranty under this Agreement shall terminate on the Final Payment Date. (iv) The obligation of the Company to make the Class HI: B-2 Guaranty Payments described in subsection (i1) above shall be unconditional and irrevocable. The Company acknowledges that its obligation to make the Class HI: B-2 Guaranty Payments described in subsection (i1) above shall be deemed a guaranty by the Company of indebtedness of the Trust for money borrowed from the Class HI: B-2 Certificateholders. (v) If the Company fails to make a Class HI: B-2 Guaranty Payment in whole or in part, the Company shall promptly notify the Owner Trustee, and the Owner Trustee shall promptly notify S&P and Fitch[the Rating Agencies]. (vi) In consideration of providing the Class HI: B-2 Limited Guaranty, the Company shall be entitled to the Class HI: B-2 Guaranty Guarantee Fee payable in accordance with Section 8.04(b)(15). b. CLASS HE: B-2 LIMITED GUARANTY (i5.2(b)(15) No later than the third Business Day prior to each Payment Date, the Servicer (if other than the Company) shall notify the Company of the amount of the Class HE: B-2 Guaranty Payment (if any) for such Payment Date. Not later than the Business Day preceding each Payment Date, the Company shall deposit the Class HE: B-2 Guaranty Payment, if any, for such Payment Date into the Certificate Account. Any Class HE: B-2 Guaranty Payment shall be distributable to Class HE: B-2 Certificateholders pursuant to Section 8.01. (ii) The obligations of the Company under this Section 8.03(b) shall not terminate upon or otherwise be affected by a Service Transfer pursuant to Article VII of this Agreement. (iii) The obligation of the Company to provide the Class HE: B-2 Limited Guaranty under this Agreement shall terminate on the Final Payment Date. (iv) The obligation of the Company to make the Class HE: B-2 Guaranty Payments described in subsection (i) above shall be unconditional and irrevocable. The Company acknowledges that its obligation to make the Class HE: B-2 Guaranty Payments described in subsection (i) above shall be deemed a guaranty by the Company of indebtedness of the Trust for money borrowed from the Class HE: B-2 CertificateholdersAgreement. (v) If the Company fails to make a Class HE: B-2 Guaranty Payment in whole or in part, the Company shall promptly notify the Trustee, and the Trustee shall promptly notify S&P and Fitch. (vi) In consideration of providing the Class HE: B-2 Limited Guaranty, the Company shall be entitled to the Class HE: B-2 Guaranty Fee payable in accordance with Section 8.04(d)(15).