Common use of Note Payment Account Clause in Contracts

Note Payment Account. On each applicable Distribution Date, following the transfers to the Note Payment Account set forth in the Terms Supplement, the Indenture Trustee shall distribute to the Noteholders as of the Record Date and Exchange Counterparties, if any, the amounts transferred to the Note Payment Account, together with (i) any amounts received from the Capitalized Interest Account in the Collection Fund as provided in Section 5.5.3 hereof, (ii) any amounts therein transferred from the Reserve Fund and (iii) any Advances. Notwithstanding anything herein or in the Terms Supplement to the contrary, if on any Distribution Date there are insufficient funds transferred to the Note Payment Account for payment of any Series 1999A Noteholders' Interest Distribution Amount, the Indenture Trustee is directed to, and shall apply any funds already then on deposit in the Note Payment Account for payment of any Series 1999B Noteholders' Interest Distribution Amount to the payment of such Series 1999A Noteholders' Interest Distribution Amount. If the Issuer or an Eligible Lender Trustee on behalf of the Issuer has applied for a Guarantee Payment from a Guarantee Agency or an Interest Subsidy Payment or a Special Allowance Payment from the Department of Education, and the Issuer or such Eligible Lender Trustee, as applicable, has not received the related payment prior to the end of the Collection Period immediately preceding the Distribution Date on which such amount would be required to be distributed as a payment of interest, the Depositor may, no later than the third Business Day before such Distribution Date, deposit into the Note Payment Account an amount up to the amount of such payments applied for but not received (such deposits by the Depositor are referred to herein as "Advances"). Such Advances are recoverable by the Issuer, (i) first, from moneys in the Fund or Account which such Advance temporarily replaced and (ii) second, from payments received generally on or with respect to the Financed Student Loans immediately upon their availability and prior to the use of such moneys for any of the other purposes permitted under this Indenture. The Depositor shall have no obligation, legal or otherwise, to make any Advance, and a determination by the Depositor to make an Advance shall not create any obligation of the Depositor, legal or otherwise, to make any future Advances.

Note Payment Account. On each applicable Distribution Date, following the transfers to the Note Payment Account set forth in the Terms Supplement, the The Indenture Trustee shall distribute establish and maintain an Eligible Account entitled “▇▇▇▇▇ Fargo Bank, N.A., as Indenture Trustee, for the benefit of the Securityholders, the Certificate Paying Agent and the Enhancer, pursuant to the Noteholders Indenture, dated as of March 29, 2005, between GMACM Home Equity Loan Trust 2005-HE1 and ▇▇▇▇▇ Fargo Bank, N.A.” (the Record Date and Exchange Counterparties, if any, the amounts transferred to the “Note Payment Account”). On each Payment Date, together with (i) any amounts received from the Capitalized Interest Account in the Collection Fund as provided in Section 5.5.3 hereof, (ii) any amounts therein transferred from the Reserve Fund and (iii) any Advances. Notwithstanding anything herein or in the Terms Supplement to the contrary, if on any Distribution Date there are insufficient funds transferred to the Note Payment Account for payment of any Series 1999A Noteholders' Interest Distribution Amount, the Indenture Trustee is directed to, and shall apply any funds already then on deposit in the Note Payment Account for payment shall be distributed by the Indenture Trustee in accordance with Section 3.05 of the Indenture. In addition, the Indenture Trustee shall deposit in the Note Payment Account, the amount of any Series 1999B Noteholders' Interest Distribution Amount Advance received from the holder of a Variable Pay Revolving Note in accordance with Section 2.03 of the Indenture, or the proceeds of the sale and issuance of a Variable Pay Revolving Note issued pursuant to the payment Indenture after the Closing Date, to be applied as a distribution of such Series 1999A Noteholders' Interest Distribution Amount. If the Issuer or an Eligible Lender Trustee on behalf principal of the Issuer has applied for a Guarantee related Class of Term Notes on its respective Targeted Final Payment from a Guarantee Agency Date. The Indenture Trustee shall invest or an Interest Subsidy Payment or a Special Allowance Payment from cause the Department of Education, and the Issuer or such Eligible Lender Trustee, as applicable, has not received the related payment prior to the end of the Collection Period immediately preceding the Distribution Date on which such amount would be required to be distributed as a payment of interest, the Depositor may, no later than the third Business Day before such Distribution Date, deposit into institution maintaining the Note Payment Account an amount up to invest the funds therein in Permitted Investments selected in writing by the Servicer and designated in the name of the Indenture Trustee, which investments shall mature not later than the Business Day next preceding the Payment Date next following the date of such investment (except that any investment in the institution with which the Note Payment Account is maintained may mature on such Payment Date and shall not be sold or disposed of prior to maturity). In addition, no such Permitted Investment shall be purchased at a price in excess of par. All income and gain realized from any such investment shall be for the benefit of the Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such payments applied for but not received (such deposits investments shall be deposited in the Note Payment Account by the Depositor are referred to herein Servicer out of its own funds immediately as "Advances"). Such Advances are recoverable by the Issuer, (i) first, from moneys in the Fund or Account which such Advance temporarily replaced and (ii) second, from payments received generally on or with respect to the Financed Student Loans immediately upon their availability and prior to the use of such moneys for any of the other purposes permitted under this Indenture. The Depositor shall have no obligation, legal or otherwise, to make any Advance, and a determination by the Depositor to make an Advance shall not create any obligation of the Depositor, legal or otherwise, to make any future Advancesrealized.

Note Payment Account. On each applicable Distribution Date, following the transfers to the Note Payment Account set forth in the Terms Supplement, the The Indenture Trustee shall distribute establish and maintain an Eligible Account entitled "________________, as Indenture Trustee, for the benefit of the Securityholders, the Certificate Paying Agent and the Enhancer, pursuant to the Noteholders Indenture, dated as of _______________, between Home Equity Loan Trust [ ]-[ ] and _____________" (the Record Date and Exchange Counterparties, if any, the amounts transferred to the "Note Payment Account"). On each Payment Date, together with (i) any amounts received from the Capitalized Interest Account in the Collection Fund as provided in Section 5.5.3 hereof, (ii) any amounts therein transferred from the Reserve Fund and (iii) any Advances. Notwithstanding anything herein or in the Terms Supplement to the contrary, if on any Distribution Date there are insufficient funds transferred to the Note Payment Account for payment of any Series 1999A Noteholders' Interest Distribution Amount, the Indenture Trustee is directed to, and shall apply any funds already then on deposit in the Note Payment Account for payment shall be distributed by the Indenture Trustee in accordance with Section 3.05 of the Indenture. In addition, the Indenture Trustee shall deposit in the Note Payment Account, the amount of any Series 1999B Noteholders' Interest Distribution Amount Advance received from the holder of a Variable Pay Revolving Note in accordance with Section 2.03 of the Indenture, or the proceeds of the sale and issuance of a Variable Pay Revolving Note issued pursuant to the payment Indenture after the Closing Date, to be applied as a distribution of such Series 1999A Noteholders' Interest Distribution Amount. If the Issuer or an Eligible Lender Trustee on behalf principal of the Issuer has applied for a Guarantee related Class of Term Notes on its respective Targeted Final Payment from a Guarantee Agency Date. The Indenture Trustee shall invest or an Interest Subsidy Payment or a Special Allowance Payment from cause the Department of Education, and the Issuer or such Eligible Lender Trustee, as applicable, has not received the related payment prior to the end of the Collection Period immediately preceding the Distribution Date on which such amount would be required to be distributed as a payment of interest, the Depositor may, no later than the third Business Day before such Distribution Date, deposit into institution maintaining the Note Payment Account an amount up to invest the funds therein in Permitted Investments selected in writing by the Servicer and designated in the name of the Indenture Trustee, which investments shall mature not later than the Business Day next preceding the Payment Date next following the date of such investment (except that any investment in the institution with which the Note Payment Account is maintained may mature on such Payment Date and shall not be sold or disposed of prior to maturity). In addition, no such Permitted Investment shall be purchased at a price in excess of par. All income and gain realized from any such investment shall be for the benefit of the Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such payments applied for but not received (such deposits investments shall be deposited in the Note Payment Account by the Depositor are referred to herein Servicer out of its own funds immediately as "Advances"). Such Advances are recoverable by the Issuer, (i) first, from moneys in the Fund or Account which such Advance temporarily replaced and (ii) second, from payments received generally on or with respect to the Financed Student Loans immediately upon their availability and prior to the use of such moneys for any of the other purposes permitted under this Indenture. The Depositor shall have no obligation, legal or otherwise, to make any Advance, and a determination by the Depositor to make an Advance shall not create any obligation of the Depositor, legal or otherwise, to make any future Advancesrealized.

Note Payment Account. On each applicable Distribution Date, following the transfers to the Note Payment Account set forth in the Terms Supplement, the The Indenture Trustee shall distribute establish and maintain an Eligible Account entitled "JPMorgan Chase Bank, National Association, as Indenture Trustee, for the benefit of the Securityholders, the Certificate Paying Agent and the Enhancer, pursuant to the Noteholders Indenture, dated as of September 27, 2006, between GMACM Home Equity Loan Trust 2006-HE4 and JPMorgan Chase Bank, National Association" (the Record Date and Exchange Counterparties, if any, the amounts transferred to the "Note Payment Account"). On each Payment Date, together with (i) any amounts received from the Capitalized Interest Account in the Collection Fund as provided in Section 5.5.3 hereof, (ii) any amounts therein transferred from the Reserve Fund and (iii) any Advances. Notwithstanding anything herein or in the Terms Supplement to the contrary, if on any Distribution Date there are insufficient funds transferred to the Note Payment Account for payment of any Series 1999A Noteholders' Interest Distribution Amount, the Indenture Trustee is directed to, and shall apply any funds already then on deposit in the Note Payment Account for payment shall be distributed by the Indenture Trustee in accordance with Section 3.05 of the Indenture. In addition, the Indenture Trustee shall deposit in the Note Payment Account, the amount of any Series 1999B Noteholders' Interest Distribution Amount Advance received from the holder of a Variable Pay Revolving Note in accordance with Section 2.03 of the Indenture, or the proceeds of the sale and issuance of a Variable Pay Revolving Note issued pursuant to the payment Indenture after the Closing Date, to be applied as a distribution of such Series 1999A Noteholders' Interest Distribution Amount. If the Issuer or an Eligible Lender Trustee on behalf principal of the Issuer has applied for a Guarantee related Class of Term Notes on its respective Targeted Final Payment from a Guarantee Agency Date. The Indenture Trustee shall invest or an Interest Subsidy Payment or a Special Allowance Payment from cause the Department of Education, and the Issuer or such Eligible Lender Trustee, as applicable, has not received the related payment prior to the end of the Collection Period immediately preceding the Distribution Date on which such amount would be required to be distributed as a payment of interest, the Depositor may, no later than the third Business Day before such Distribution Date, deposit into institution maintaining the Note Payment Account an amount up to invest the amount funds therein in Permitted Investments selected in writing by the Servicer and designated in the name of the Indenture Trustee, which investments shall mature not later than the Business Day next preceding the Payment Date next following the date of such payments applied for but investment (except that any investment in the institution with which the Note Payment Account is maintained may mature on such Payment Date and shall not received (such deposits by the Depositor are referred be sold or disposed of prior to herein as "Advances"maturity). Such Advances are recoverable by the IssuerIn addition, (i) first, from moneys no such Permitted Investment shall be purchased at a price in excess of par. Amounts on deposit in the Fund or Note Payment Account which such Advance temporarily replaced will remain uninvested and (ii) second, from payments received generally on or with respect to all benefit therefrom shall be for the Financed Student Loans immediately upon their availability and prior to the use of such moneys for any benefit of the other purposes permitted under this Indenture. The Depositor shall have no obligation, legal or otherwise, to make any Advance, and a determination by the Depositor to make an Advance shall not create any obligation of the Depositor, legal or otherwise, to make any future AdvancesIndenture Trustee.

Note Payment Account. On each applicable Distribution Date, following the transfers to the Note Payment Account set forth in the Terms Supplement, the Indenture Trustee shall distribute to the Noteholders as of the Record Date and Exchange Counterparties, if any, the amounts transferred to the Note Payment Account, together with (i) any amounts received from the Capitalized Interest Account in the Collection Fund as provided in Section 5.5.3 hereof, (ii) any amounts therein transferred from the Reserve Fund and (iiiii) any Advances. Notwithstanding anything herein or in the Terms Supplement to the contrary, if on any Distribution Date there are insufficient funds transferred to the Note Payment Account for payment of any Series 1999A Noteholders' Interest Distribution Amount, the Indenture Trustee is directed to, and shall apply any funds already then on deposit in the Note Payment Account for payment of any Series 1999B Noteholders' Interest Distribution Amount to the payment of such Series 1999A Noteholders' Interest Distribution Amount. If the Issuer or an Eligible Lender Trustee on behalf of the Issuer has applied for a Guarantee Payment from a Guarantee Agency or an Interest Subsidy Payment or a Special Allowance Payment from the Department of Education, and the Issuer or such Eligible Lender Trustee, as applicable, has not received the related payment prior to the end of the Collection Period immediately preceding the Distribution Date on which such amount would be required to be distributed as a payment of interest, the Depositor Issuer or the Original Issuer may, no later than the third Business Day before such Distribution Date, deposit into the Note Payment Account an amount up to the amount of such payments applied for but not received (such deposits by the Depositor Issuer are referred to herein as "Advances"). Such The Indenture Trustee shall reimburse the Issuer or the Original Issuer, as applicable, for such Advances are recoverable by with moneys in the IssuerTrust Estate, (i) first, from moneys in the Fund or Account which such Advance temporarily replaced and (ii) second, from payments received generally on or with respect to the Financed Student Loans immediately upon their availability and prior to the use of such moneys for any of the other purposes permitted under this Indenture. The Depositor Neither the Issuer nor the Original Issuer shall have no any obligation, legal or otherwise, to make any Advance, and a determination by the Depositor Issuer or the Original Issuer to make an Advance shall not create any obligation of the DepositorIssuer or the Original Issuer, legal or otherwise, to make any future Advances.