Option to Contribute Derivative Instrument. At any time on or after the Closing Date, the Seller shall have the right to contribute to, and deposit into, the Trust a derivative contract or comparable instrument (a “Derivative Instrument”). The Derivative Instrument may have a notional amount in excess of the sum of the beneficial interests in the Trust. Any such instrument shall constitute a fully prepaid agreement. The Trust Administrator shall have no tax reporting duties with respect to any such Derivative Instrument.
Appears in 19 contracts
Samples: Custodial Agreement (Fieldstone Mortgage Investment CORP), Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP), Custodial Agreement (NYMT Securities CORP)
Option to Contribute Derivative Instrument. At any time on or after the Closing Date, the Seller shall have the right to contribute to, and deposit into, the Trust a derivative contract or comparable instrument (a “Derivative Instrument”). The Derivative Instrument may have a notional amount in excess of the sum of the beneficial interests in the Trust. Any such instrument shall constitute a fully prepaid agreement. The Trust Securities Administrator shall have no tax reporting duties with respect to any such Derivative Instrument.
Appears in 14 contracts
Samples: Transfer and Servicing Agreement (Homebanc Corp), Transfer and Servicing Agreement (Homebanc Corp), Transfer and Servicing Agreement (Homebanc Corp)
Option to Contribute Derivative Instrument. At any time on or after the Closing Date, the Seller shall have the right to contribute to, and deposit into, the Trust a derivative contract or comparable instrument (a “"Derivative Instrument”"). The Derivative Instrument may have a notional amount in excess of the sum of the beneficial interests in the Trust. Any such instrument shall constitute a fully prepaid agreement. The Trust Administrator shall have no tax reporting duties with respect to any such Derivative Instrument.
Appears in 8 contracts
Samples: Transfer and Servicing Agreement (Asset Backed Sec Corp Fieldstone Mort Inv Tr Ser 2004-2), Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP), Sale and Servicing Agreement (CWHEQ, Inc.)
Option to Contribute Derivative Instrument. At any time on or after the Closing Date, the Seller shall have the right to contribute to, and deposit into, the Trust Fund a derivative contract or comparable instrument (a “Derivative Instrument”). The Derivative Instrument may have a notional amount in excess of the sum of the beneficial interests in the Trust. Any such instrument shall constitute a fully prepaid agreement. The Trust Securities Administrator shall have no tax reporting duties with respect to any such Derivative Instrument.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (TBALT Corp.), Pooling and Servicing Agreement (HMB Acceptance Corp.)
Option to Contribute Derivative Instrument. At any time on or after the Closing Date, the Seller Sponsor shall have the right to contribute to, and deposit into, the Trust a derivative contract or comparable instrument (a “Derivative Instrument”). The Derivative Instrument may have a notional amount in excess of the sum of the beneficial interests in the Trust. Any such instrument shall constitute a fully prepaid agreement. The Trust Administrator shall have no tax reporting duties with respect to any such Derivative Instrument.
Appears in 1 contract
Samples: Custodial Agreement (Aames Mortgage Investment Trust 2006-1)
