Common use of Net WAC Reserve Fund Clause in Contracts

Net WAC Reserve Fund. (a) The Trustee shall establish a Net WAC Reserve Fund on behalf of the holders of the Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "Net WAC Reserve Fund, JPMorgan Chase Bank as Trustee for the benefit of holders of Bear Stearns Asset Backex Xxxxxities, Inc., Asset-Backed Certificates, Series 2003-AC2, Class A-1, Class A-2, Class A-3, Claxx X-0, Xxxxx M-1, Class M-2, Class B-1 and Class B-2". On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund $5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee shall deposit the amounts pursuant to paragraphs 6, 7, 8 and 9 of clause THIRD of Section 6.04(a) into the Net WAC Reserve Fund and the Trustee has been directed by the Class C Certificateholder to distribute such amounts to the Holders of the Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD of Section 6.04(a). Notwithstanding anything set forth herein, any distributions to the Holders of the Class B-1 Certificates and Class B-2 Certificates pursuant to this Section 6.08 shall be made on a pro rata basis.

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Offered Certificates (other than and the Class A-IO B-4 Certificates). The Net WAC Reserve Fund must shall be an Eligible Account. The Net WAC Reserve Fund shall be entitled "“Net WAC Reserve Fund, JPMorgan Chase U.S. Bank National Association as Trustee for the benefit of holders Holders of Bear Stearns Xxxxxxx Asset Backex Xxxxxities, Inc.Backed Securities I LLC, Asset-Backed Certificates, Series 20032006-AC2AC3, Class I-A-1, Class I-A-2, Class A-3II-A-1, Claxx X-0Class II-A-2, Xxxxx Class M-1, Class M-2, Class B-1 M-3, Class B-1, Class B-2, Class B-3 and Class B-2"B-4”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund $5,000an amount equal to the Net WAC Reserve Fund Deposit. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee shall Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, deposit the amounts pursuant to paragraphs 6, 7, 8 and 9 (ix) through (xvii) of clause THIRD third of Section 6.04(a) into the Net WAC Reserve Fund Fund, and the Trustee Securities Administrator has been directed by the Class C Certificateholder to distribute such any amounts then on deposit in the Net WAC Reserve Fund to the Holders of the Offered Certificates (other than and Class B-4 Certificates in respect of the Net WAC Rate Carryover Amount for each such Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD third of Section 6.04(a). Notwithstanding anything set forth herein, any distributions to the Holders of the Class B-1 Certificates and Class B-2 Certificates pursuant to this Section 6.08 shall be made on a pro rata basis.

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders Holders of the Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "“Net WAC Reserve Fund, JPMorgan Chase U.S. Bank National Association as Trustee for the benefit of holders Holders of Bear Stearns Sxxxxxx Asset Backex Xxxxxities, Inc.Backed Securities I LLC, Asset-Backed Certificates, Series 20032006-AC2AC1, Class 1-A-1, Class I-A-2, Class A-3, Claxx X-0, Xxxxx I-M-1, Class I-M-2, Class B-1 I-M-3, Class I-B-1, Class I-B-2, Class I-B-3 and Class B-2"I-B-4 Certificates”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund $5,000an amount equal to the Net WAC Reserve Fund Deposit. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Group I Offered Certificates or Class I-B-4 Certificates, the Trustee shall Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, deposit the amounts pursuant to paragraphs 6, 7, 8 and 9 through 17 of clause THIRD third of Section 6.04(a) with respect to Loan Group I into the Net WAC Reserve Fund Fund, and the Trustee Securities Administrator has been directed by the Class I-C Certificateholder to distribute such any amounts then on deposit in the Net WAC Reserve Fund to the Holders of the Group I Offered Certificates (other than and Class I-B-4 Certificates in respect of the Net WAC Rate Carryover Amount for each such Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD third of Section 6.04(a). Notwithstanding anything set forth herein, any distributions to the Holders of the Class B-1 Certificates and Class B-2 Certificates pursuant to this Section 6.08 shall be made on a pro rata basis.

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must shall be an Eligible Account. The Net WAC Reserve Fund shall be entitled "“Net WAC Reserve Fund, JPMorgan Chase U.S. Bank National Association as Trustee for the benefit of holders Holders of Bear Stearns Xxxxxxx Asset Backex Xxxxxities, Inc.Backed Securities I LLC, Asset-Backed Certificates, Series 20032005-AC2AC9, Class A-1, Class A-2, Class A-3, Claxx X-0, Xxxxx X-0, Class X-0, Xxxxx X-0, Class M-1, Class M-2, Class B-1 M-3, Class B-1, Class B-2, Class B-3 and Class B-2"B-4”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund $5,000an amount equal to the Net WAC Reserve Fund Deposit. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee shall Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, deposit the amounts pursuant to paragraphs 6, 7, 8 and 9 through 17 of clause THIRD third of Section 6.04(a) into the Net WAC Reserve Fund Fund, and the Trustee Securities Administrator has been directed by the Class C Certificateholder to distribute such any amounts then on deposit in the Net WAC Reserve Fund to the Holders of the Offered Certificates (other than and Class B-4 Certificates in respect of the Net WAC Rate Carryover Amount for each such Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD third of Section 6.04(a). Notwithstanding anything set forth herein, any distributions to the Holders of the Class B-1 Certificates and Class B-2 Certificates pursuant to this Section 6.08 shall be made on a pro rata basis.

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must shall be an Eligible Account. The Net WAC Reserve Fund shall be entitled "“Net WAC Reserve Fund, JPMorgan Chase U.S. Bank National Association as Trustee for the benefit of holders Holders of Bear Stearns Xxxxxxx Asset Backex Xxxxxities, Inc.Backed Securities I LLC, Asset-Backed Certificates, Series 20032005-AC2AC7, Class A-1, Class A-2, Class A-3, Claxx X-0, Xxxxx X-0, Class A-4, Class M-1, Class M-2, Class B-1 M-3, Class B-1, Class B-2, Class B-3 and Class B-2"B-4”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund $5,000an amount equal to the Net WAC Reserve Fund Deposit. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee shall Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, deposit the amounts pursuant to paragraphs 6, 7, 8 and 9 through 17 of clause THIRD third of Section 6.04(a) into the Net WAC Reserve Fund Fund, and the Trustee Securities Administrator has been directed by the Class C Certificateholder to distribute such any amounts then on deposit in the Net WAC Reserve Fund to the Holders of the Offered Certificates (other than and Class B-4 Certificates in respect of the Net WAC Rate Carryover Amount for each such Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD third of Section 6.04(a). Notwithstanding anything set forth herein, any distributions to the Holders of the Class B-1 Certificates and Class B-2 Certificates pursuant to this Section 6.08 shall be made on a pro rata basis.

Net WAC Reserve Fund. (a) The Trustee shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "Net WAC Reserve Fund, JPMorgan Chase Bank as Trustee for the benefit of holders of Bear Stearns Nomura Asset Backex XxxxxitiesAcceptance Corporation, Inc., AssetMortgage Pass-Backed Through Certificates, Series 20032004-AC2AP1, Class A-1, Class A-2, Class A-3, Claxx Class X-0X, Xxxxx X-4B, Class A-5, Class X-0, Xxxxx M-1X-0, Class M-2, Class B-1 M-2 and Class B-2M-3". On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund $5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee shall deposit the amounts pursuant to paragraphs 63, 74, 8 5 and 9 6 of clause THIRD of Section 6.04(a5.04(a) into -105- the Net WAC Reserve Fund and the Trustee has been directed by the Class C Certificateholder to distribute such amounts to the Holders of the Publicly Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD of Section 6.04(a5.04(a). Notwithstanding anything set forth herein, any distributions to the Holders of the Class B-1 Certificates and Class B-2 Certificates pursuant to this Section 6.08 shall be made on a pro rata basis.

Net WAC Reserve Fund. (a) The Trustee shall establish a Net WAC Reserve Fund on behalf of the holders of the Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "Net WAC Reserve Fund, JPMorgan Chase U.S. Bank National Association as Trustee for the benefit of holders of Bear Stearns Asset Backex Xxxxxities, Inc.Xxxxxities I LLC, Asset-Backed Certificates, Series 20032004-AC2AC3, Class A-1, Class A-2, Class A-3, Claxx X-0, Xxxxx M-1M-2, Class M-2M-3, Class B-1 and Class B-2". On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund $5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee shall shall, in accordance with the Remittance Report for such Distribution Date, deposit the amounts pursuant to paragraphs 5, 6, 7, 8 8, 9 and 9 10 of clause THIRD of Section 6.04(a) into the Net WAC Reserve Fund and the Trustee has been directed by the Class C Certificateholder to distribute such amounts to the Holders of the Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD of Section 6.04(a). Notwithstanding anything set forth herein, any distributions to the Holders of the Class B-1 Certificates and Class B-2 Certificates pursuant to this Section 6.08 shall be made on a pro rata basis.

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "“Net WAC Reserve Fund, JPMorgan Chase U.S. Bank National Association as Trustee for the benefit of holders Holders of Bear Stearns Xxxxxxx Asset Backex Xxxxxities, Inc.Backed Securities I LLC, Asset-Backed Certificates, Series 20032005-AC2AC4, Class A-1A, Class A-2, Class A-3, Claxx X-0, Xxxxx M-1, Class M-2, Class B-1 M-3, Class B-1, Class B-2, Class B-3 and Class B-2"B-4”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund $5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee shall Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, deposit the amounts pursuant to paragraphs 6, 7, 8 and 9 through 16 of clause THIRD third of Section 6.04(a) into the Net WAC Reserve Fund Fund, and the Trustee Securities Administrator has been directed by the Class C Certificateholder to distribute such amounts to the Holders of the Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD third of Section 6.04(a). Notwithstanding anything set forth herein, any distributions to the Holders of the Class B-1 Certificates and Class B-2 Certificates pursuant to this Section 6.08 shall be made on a pro rata basis.

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "“Net WAC Reserve Fund, JPMorgan Chase Bank as Trustee Wxxxx Fargo Bank, N.A. for the benefit of holders of Bear Stearns Nomura Asset Backex XxxxxitiesAcceptance Corporation, Inc., AssetMortgage Pass-Backed Through Certificates, Series 20032005-AC2WF1, Class A-1II-A-1A, Class II-A-1B, Class II-A-2, Class II-A-3, Claxx X-0Class II-A-4, Xxxxx Class II-A-5, Class M-1, Class M-2, Class B-1 M-2 and Class B-2"M-3”. Any payments received by the Securities Administrator under the Cap Contracts shall be deposited into the Net WAC Reserve Fund for the benefit of the Class II-A-1A Certificates and Class II-A-1B Certificates; provided that the amount of any Excess Cap Payments shall be held for the benefit of the Class X Certificates and payable as part of the Class X Distribution Amount for the related Distribution Date. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund $5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee Securities Administrator shall deposit the amounts pursuant to paragraphs 6, 7, 8 and 9 of clause THIRD of Section 6.04(a5.04(b)(3)(iii) into the Net WAC Reserve Fund and the Trustee Securities Administrator has been directed by the Majority Class C X Certificateholder to distribute such amounts to the Holders of the Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD of Section 6.04(a). Notwithstanding anything set forth herein, any distributions up to the Holders of Net WAC Carryover Amount payable to each such Class, first to the Class B-1 Senior Certificates and Class B-2 Certificates pursuant to this Section 6.08 shall be made on a pro rata basis, based on the entitlement of each such Class and then to the Class M-1, Class M-2 and Class M-3 Certificates, in that order.

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "“Net WAC Reserve Fund, JPMorgan Chase Bank as Trustee Xxxxx Fargo Bank, National Association for the benefit of holders of Bear Stearns Nomura Asset Backex XxxxxitiesAcceptance Corporation, Inc., AssetMortgage Pass-Backed Through Certificates, Series 20032006-AC2WF1, Class A-1, Class A-2, Class A-3, Claxx X-0, Xxxxx X-0, Class A-4, Class X-0, Xxxxx X-0, Class M-1, Class M-2, Class B-1 M-3 and Class B-2"M-4”. Any payments received by the Securities Administrator under the Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 Certificates. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund $5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee Securities Administrator shall deposit the amounts pursuant to paragraphs 63, 74, 8 5, 6 and 9 7 of clause THIRD Third of Section 6.04(a5.04(a) into the Net WAC Reserve Fund and the Trustee Securities Administrator has been directed by the Class C X Certificateholder to distribute such amounts to the Holders of the Publicly Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD Third of Section 6.04(a5.04(a). Notwithstanding anything set forth herein, any distributions to the Holders of the Class B-1 Certificates and Class B-2 Certificates pursuant to this Section 6.08 shall be made on a pro rata basis.

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "“Net WAC Reserve Fund, JPMorgan Chase Bank as Trustee Xxxxx Fargo Bank, National Association for the benefit of holders of Bear Stearns Asset Backex XxxxxitiesNomura Home Equity Loan, Inc., Asset-Backed Certificates, Series 20032006-AC2AF1, Class A-1, Class A-2, Class A-3, Claxx X-0, Xxxxx X-0, Class A-4, Class M-1, Class M-2, Class B-1 M-2 and Class B-2"M-3”. Any payments received by the Securities Administrator under the Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 Certificates. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund $5,0001,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee Securities Administrator shall deposit the amounts pursuant to paragraphs 6, 7, 8 and 9 paragraph (4) of clause THIRD Third of Section 6.04(a5.04(a) into the Net WAC Reserve Fund and the Trustee Securities Administrator has been directed by the Class C X Certificateholder to distribute such amounts to the Holders of the Publicly Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD Third of Section 6.04(a5.04(a). Notwithstanding anything set forth herein, any distributions to the Holders of the Class B-1 Certificates and Class B-2 Certificates pursuant to this Section 6.08 shall be made on a pro rata basis.

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders Holders of the Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "“Net WAC Reserve Fund, JPMorgan Chase U.S. Bank National Association as Trustee for the benefit of holders Holders of Bear Stearns Sxxxxxx Asset Backex Xxxxxities, Inc.Backed Securities I LLC, Asset-Backed Certificates, Series 20032005-AC2AC3, Class A-1I-A, Class A-2, Class A-3, Claxx X-0, Xxxxx I-M-1, Class I-M-2, Class B-1 I-M-3, Class I-B-1, Class I-B-2, Class I-B-3 and Class B-2"I-B-4 Certificates”. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund $5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Group I Offered Certificates, the Trustee shall Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, deposit the amounts pursuant to paragraphs 6, 7, 8 and 9 through 16 of clause THIRD third of Section 6.04(a) with respect to Loan Group I into the Net WAC Reserve Fund Fund, and the Trustee Securities Administrator has been directed by the Class I-C Certificateholder to distribute such amounts to the Holders of the Group I Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD third of Section 6.04(aSections 6.07(a). Notwithstanding anything set forth herein, any distributions to the Holders of the Class B-1 Certificates and Class B-2 Certificates pursuant to this Section 6.08 shall be made on a pro rata basis.

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders of the Publicly Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "“Net WAC Reserve Fund, JPMorgan Chase Bank as Trustee Wxxxx Fargo Bank, National Association for the benefit of holders of Bear Stearns Nomura Asset Backex XxxxxitiesAcceptance Corporation, Inc., AssetMortgage Pass-Backed Through Certificates, Series 20032006-AC2WF1, Class A-1, Class A-2A-0, Xxxxx X-0, Class A-3A-4, Claxx Class A-0, Xxxxx X-0, Xxxxx Class M-1, Class M-2, Class B-1 M-3 and Class B-2"M-4”. Any payments received by the Securities Administrator under the Cap Contract shall be deposited into the Net WAC Reserve Fund for the benefit of the Class A-1 Certificates. On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund $5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee Securities Administrator shall deposit the amounts pursuant to paragraphs 63, 74, 8 5, 6 and 9 7 of clause THIRD Third of Section 6.04(a5.04(a) into the Net WAC Reserve Fund and the Trustee Securities Administrator has been directed by the Class C X Certificateholder to distribute such amounts to the Holders of the Publicly Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD Third of Section 6.04(a5.04(a). Notwithstanding anything set forth herein, any distributions to the Holders of the Class B-1 Certificates and Class B-2 Certificates pursuant to this Section 6.08 shall be made on a pro rata basis.

Net WAC Reserve Fund. (a) The Trustee Securities Administrator shall establish a Net WAC Reserve Fund on behalf of the holders Holders of the Offered Certificates (other than the Class A-IO Certificates). The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "Net WAC Reserve Fund, JPMorgan Chase U.S. Bank National Association as Trustee for the benefit of holders of Bear Stearns Xxxxxxx Asset Backex Xxxxxities, Inc.Backed Securities I LLC, Asset-Backed Certificates, Series 20032005-AC2, Class I-A, Class I-M-1, Class I-M-2, Class I-M-3, Class I-B-1, Class I-B-2, Class I-B-3, Class II-A-1, Class II-A-2, Class A-3, Claxx X-0, Xxxxx II-M-1, Class II-M-2, Class B-1 II-M-3, Class II-B-1, Class II-B-2 and Class B-2II-B-3 Certificates". On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund $5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Offered Certificates, the Trustee shall Securities Administrator shall, in accordance with the Remittance Report for such Distribution Date, deposit the amounts pursuant to paragraphs 6, 7, 8 and 9 through 14 of clause THIRD third of Section 6.04(a) with respect to Loan Group I and pursuant to paragraphs 8 through 14 of clause third of Section 6.04(b) with respect to Loan Group II into the Net WAC Reserve Fund Fund, and the Trustee Securities Administrator has been directed by the Class I-C Certificateholder and Class II-C Certificateholder, as applicable, to distribute such amounts to the Holders of the related Offered Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD third of Section Sections 6.04(a) and 6.04(b). Notwithstanding anything set forth herein, any distributions to the Holders of the Class B-1 Certificates and Class B-2 Certificates pursuant to this Section 6.08 shall be made on a pro rata basis.

Net WAC Reserve Fund. (a) The Trustee shall establish a Net WAC Reserve Fund on behalf of the holders of the Offered Certificates (other than the Class A-IO Certificates)A-1, Class M-1, Class M-2, Class B-1 and Class B-2 Certificateholders. The Net WAC Reserve Fund must be an Eligible Account. The Net WAC Reserve Fund shall be entitled "Net WAC Reserve Fund, JPMorgan Chase Bank as Trustee for the benefit of holders of Bear Stearns Asset Backex Xxxxxities, Inc., Asset-Backed Certificates, Series 2003-AC2AC1, Class A-1, Class A-2, Class A-3, Claxx X-0, Xxxxx M-1, Class M-2, Class B-1 and Class B-2". On the Closing Date, the Depositor will deposit, or cause to be deposited, into the Net WAC Reserve Fund $5,000. On each Distribution Date as to which there is a Net WAC Rate Carryover Amount payable to any Class of Certificates, the Trustee shall deposit the amounts pursuant to paragraphs 6, 7, 8 and 9 of clause THIRD of Section 6.04(a) into the Net WAC Reserve Fund and the Trustee has been directed by the Class C Certificateholder to distribute such amounts to the Holders of the Offered Class A-1, Class M-1, Class B-1 and Class B-2 Certificates (other than the Class A-IO Certificates) in the amounts and priorities set forth in clause THIRD of Section 6.04(a). Notwithstanding anything set forth herein, any distributions to the Holders of the Class B-1 Certificates and Class B-2 Certificates pursuant to this Section 6.08 shall be made on a pro rata basis.