PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2005-5), Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen sixteen classes of certificates, designated as (i) the Class 1A1-A-1A A Certificates, (ii) the Class 1A1-A-1B B Certificates, (iii) the Class 2A1-A-1A C Certificates, (iv) the Class 2-A-1B AM Certificates, (v) the Class 2-A-1C M-1 Certificates, (vi) the Class X-1 M-2 Certificates, (vii) the Class X-2 M-3 Certificates, (viii) the Class PO-1 M-4 Certificates, (ix) the Class PO-2 M-5 Certificates, (x) the Class A-R M-6 Certificates, (xi), ) the Class A-R-II M-7 Certificates, (xii) the Class P M-8 Certificates, (xiii) the Class B-1 B Certificates, (xiv) the Class B-2 C Certificates, (xv) the Class B-3 Certificates, P Certificates and (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R Certificates. As provided herein, the Trustee shall will elect that to treat the Trust Fund (exclusive segregated pool of assets consisting of the Mortgage Loans and certain other related assets held in (other than the Basis Risk Net WAC Shortfall Reserve Fund, any Master Servicer Prepayment Charge Payment Amounts, the Pre-Funding Account, the Interest Coverage Account, the Class M Interest Reserve Fund and and, for the Yield Maintenance avoidance of doubt, the Supplemental Interest Trust, the Derivative Account, the Cap Contracts, the Collateral Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated subject to this Agreement as a REMIC for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents R-1 Interest will be the sole class of residual interest Residual Interests in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve FundREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-1-A Variable(2) $ 1,291,504.09 September 25, the Yield Maintenance Account2037 1-1-B Variable(2) $ 1,291,504.09 September 25, the Yield Maintenance Agreements2037 1-2-A Variable(2) $ 2,392,637.16 September 25, and the interests in the Lower2037 1-Tier 2-B Variable(2) $ 2,392,637.16 September 25, 2037 1-3-A Variable(2) $ 3,515,987.98 September 25, 2037 1-3-B Variable(2) $ 3,515,987.98 September 25, 2037 1-4-A Variable(2) $ 4,652,077.16 September 25, 2037 1-4-B Variable(2) $ 4,652,077.16 September 25, 2037 1-5-A Variable(2) $ 5,790,398.31 September 25, 2037 1-5-B Variable(2) $ 5,790,398.31 September 25, 2037 1-6-A Variable(2) $ 6,916,224.67 September 25, 2037 Designation Uncertificated REMIC formed hereby. The Upper Tier 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-6-B Variable(2) $ 6,916,224.67 September 25, 2037 1-7-A Variable(2) $ 8,020,326.33 September 25, 2037 1-7-B Variable(2) $ 8,020,326.33 September 25, 2037 1-8-A Variable(2) $ 9,083,173.44 September 25, 2037 1-8-B Variable(2) $ 9,083,173.44 September 25, 2037 1-9-A Variable(2) $ 10,058,672.05 September 25, 2037 1-9-B Variable(2) $ 10,058,672.05 September 25, 2037 1-10-A Variable(2) $ 10,765,542.83 September 25, 2037 1-10-B Variable(2) $ 10,765,542.83 September 25, 2037 1-11-A Variable(2) $ 11,463,933.03 September 25, 2037 1-11-B Variable(2) $ 11,463,933.03 September 25, 2037 1-12-A Variable(2) $ 11,644,488.25 September 25, 2037 1-12-B Variable(2) $ 11,644,488.25 September 25, 2037 1-13-A Variable(2) $ 11,067,336.89 September 25, 2037 1-13-B Variable(2) $ 11,067,336.89 September 25, 2037 1-14-A Variable(2) $ 10,518,483.57 September 25, 2037 1-14-B Variable(2) $ 10,518,483.57 September 25, 2037 1-15-A Variable(2) $ 9,996,426.10 September 25, 2037 1-15-B Variable(2) $ 9,996,426.10 September 25, 2037 1-16-A Variable(2) $ 9,499,998.27 September 25, 2037 1-16-B Variable(2) $ 9,499,998.27 September 25, 2037 1-17-A Variable(2) $ 9,027,876.59 September 25, 2037 1-17-B Variable(2) $ 9,027,876.59 September 25, 2037 1-18-A Variable(2) $ 8,578,837.10 September 25, 2037 1-18-B Variable(2) $ 8,578,837.10 September 25, 2037 1-19-A Variable(2) $ 8,151,847.46 September 25, 2037 1-19-B Variable(2) $ 8,151,847.46 September 25, 2037 1-20-A Variable(2) $ 7,798,892.21 September 25, 2037 1-20-B Variable(2) $ 7,798,892.21 September 25, 2037 1-21-A Variable(2) $ 7,396,029.40 September 25, 2037 1-21-B Variable(2) $ 7,396,029.40 September 25, 2037 1-22-A Variable(2) $ 7,016,763.42 September 25, 2037 1-22-B Variable(2) $ 7,016,763.42 September 25, 2037 1-23-A Variable(2) $ 6,425,008.72 September 25, 2037 1-23-B Variable(2) $ 6,425,008.72 September 25, 2037 1-24-A Variable(2) $ 3,611,587.50 September 25, 2037 1-24-B Variable(2) $ 3,611,587.50 September 25, 2037 1-25-A Variable(2) $ 3,502,440.00 September 25, 2037 1-25-B Variable(2) $ 3,502,440.00 September 25, 2037 1-26-A Variable(2) $ 3,396,127.50 September 25, 2037 1-26-B Variable(2) $ 3,396,127.50 September 25, 2037 1-27-A Variable(2) $ 3,293,460.00 September 25, 2037 1-27-B Variable(2) $ 3,293,460.00 September 25, 2037 Designation Uncertificated REMIC shall hold as assets the uncertificated Lower1 Pass-Tier Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-28-A Variable(2) $ 3,193,627.50 September 25, 2037 1-28-B Variable(2) $ 3,193,627.50 September 25, 2037 1-29-A Variable(2) $ 3,096,832.50 September 25, 2037 1-29-B Variable(2) $ 3,096,832.50 September 25, 2037 1-30-A Variable(2) $ 3,003,075.00 September 25, 2037 1-30-B Variable(2) $ 3,003,075.00 September 25, 2037 1-31-A Variable(2) $ 2,911,950.00 September 25, 2037 1-31-B Variable(2) $ 2,911,950.00 September 25, 2037 1-32-A Variable(2) $ 2,823,862.50 September 25, 2037 1-32-B Variable(2) $ 2,823,862.50 September 25, 2037 1-33-A Variable(2) $ 2,738,205.00 September 25, 2037 1-33-B Variable(2) $ 2,738,205.00 September 25, 2037 1-34-A Variable(2) $ 2,654,977.50 September 25, 2037 1-34-B Variable(2) $ 2,654,977.50 September 25, 2037 1-35-A Variable(2) $ 2,574,585.00 September 25, 2037 1-35-B Variable(2) $ 2,574,585.00 September 25, 2037 1-36-A Variable(2) $ 20,079,787.50 September 25, 2037 1-36-B Variable(2) $ 20,079,787.50 September 25, 2037 1-37-A Variable(2) $ 1,882,755.00 September 25, 2037 1-37-B Variable(2) $ 1,882,755.00 September 25, 2037 1-38-A Variable(2) $ 1,825,582.50 September 25, 2037 1-38-B Variable(2) $ 1,825,582.50 September 25, 2037 1-39-A Variable(2) $ 1,770,300.00 September 25, 2037 1-39-B Variable(2) $ 1,770,300.00 September 25, 2037 1-40-A Variable(2) $ 1,716,435.00 September 25, 2037 1-40-B Variable(2) $ 1,716,435.00 September 25, 2037 1-41-A Variable(2) $ 1,664,460.00 September 25, 2037 1-41-B Variable(2) $ 1,664,460.00 September 25, 2037 1-42-A Variable(2) $ 1,613,745.00 September 25, 2037 1-42-B Variable(2) $ 1,613,745.00 September 25, 2037 1-43-A Variable(2) $ 1,564,762.50 September 25, 2037 1-43-B Variable(2) $ 1,564,762.50 September 25, 2037 1-44-A Variable(2) $ 1,517,355.00 September 25, 2037 1-44-B Variable(2) $ 1,517,355.00 September 25, 2037 1-45-A Variable(2) $ 1,471,050.00 September 25, 2037 1-45-B Variable(2) $ 1,471,050.00 September 25, 2037 1-46-A Variable(2) $ 1,426,477.50 September 25, 2037 1-46-B Variable(2) $ 1,426,477.50 September 25, 2037 1-47-A Variable(2) $ 1,383,007.50 September 25, 2037 1-47-B Variable(2) $ 1,383,007.50 September 25, 2037 1-48-A Variable(2) $ 1,341,112.50 September 25, 2037 1-48-B Variable(2) $ 1,341,112.50 September 25, 2037 1-49-A Variable(2) $ 1,300,162.50 September 25, 2037 Designation Uncertificated REMIC Interests1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-49-B Variable(2) $ 1,300,162.50 September 25, other than the Class LT2037 1-R Interest50-A Variable(2) $ 1,260,630.00 September 25, ownership of which shall be evidenced by the Class A2037 1-R50-II Certificate. Each such LowerB Variable(2) $ 1,260,630.00 September 25, 2037 1-Tier Interest is hereby designated as a REMIC regular interest.51-A Variable(2) $ 1,222,357.50 September 25, 2037 1-51-B Variable(2) $ 1,222,357.50 September 25, 2037 1-52-A Variable(2) $ 1,185,030.00 September 25, 2037 1-52-B Variable(2) $ 1,185,030.00 September 25, 2037 1-53-A Variable(2) $ 1,148,962.50 September 25, 2037 1-53-B Variable(2) $ 1,148,962.50 September 25, 2037 1-54-A Variable(2) $ 1,113,997.50 September 25, 2037 1-54-B Variable(2) $ 1,113,997.50 September 25, 2037 1-55-A Variable(2) $ 1,080,135.00 September 25, 2037 1-55-B Variable(2) $ 1,080,135.00 September 25, 2037 1-56-A Variable(2) $ 1,047,217.50 September 25, 2037 1-56-B Variable(2) $ 1,047,217.50 September 25, 2037 1-57-A Variable(2) $ 1,015,245.00 September 25, 2037 1-57-B Variable(2) $ 1,015,245.00 September 25, 2037 1-58-A Variable(2) $ 984,375.00 September 25, 2037 1-58-B Variable(2) $ 984,375.00 September 25, 2037 1-59-A Variable(2) $ 954,292.50 September 25, 2037 1-59-B Variable(2) $ 954,292.50 September 25, 2037 1-60-A Variable(2) $ 30,051,630.00 September 25, 2037 1-60-B Variable(2) $ 30,051,630.00 September 25, 2037 P Variable(2) $ 100.00 September 25, 2037 OC Variable(2) $ 196,613,419.09 September 25, 2037 ________________________
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Impac Secured Assets Trust 2007-3), Pooling and Servicing Agreement (Impac Secured Assets Trust 2007-3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which Certificates in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen eight classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B M Certificates, (v) the Class 2-A-1C B Certificates, (vi) the Class X-1 C Certificates, (vii) the Class X-2 Certificates, P Certificates and (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in the Basis Risk Excess Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreementsother assets identified as excluded in accordance with the definition of “REMIC 1” herein) be treated as a real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate R-1 Interest represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions. The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests. None of the assets held in the Basis Risk Reserve FundREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) LT1AA Variable(2) $ 165,478,105.44 April 25, the Yield Maintenance Account2012 LT1A1 Variable(2) $ 968,290.00 April 25, the Yield Maintenance Agreements2012 LT1A2 Variable(2) $ 490,450.00 April 25, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests2012 LT1A3 Variable(2) $ 207,860.00 April 25, other than the Class LT-R Interest2012 LT1M Variable(2) $ 7,590.00 April 25, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.2012 LT1B Variable(2) $ 14,362.09 April 25, 2012 LT1ZZ Variable(2) $ 1,688,552.10 April 25, 2012 LT1P Variable(2) $ 100.00 April 25, 2012 ___________________
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (IndyMac Residential Mortgage-Backed Trust, Series 2006-L3), Pooling and Servicing Agreement (IndyMac Residential Mortgage-Backed Trust, Series 2006-L3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell is the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in owner of the Trust Fund created hereunderthat is hereby conveyed to the Trustee in return for the Certificates. The Certificates will consist Trust Fund is being conveyed to the Trustee to create a trust for the benefit of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesCertificateholders. As provided herein, the Trustee an election shall elect be made that the Trust Fund (exclusive of (i) the assets held right to receive or the obligation to pay Net Rate Carryover Amounts to the extent such amounts would result in the Basis Risk payment of interest reflecting an interest rate exceeding the Group I REMIC Maximum Rate, (ii) the obligation to pay Swap Termination Payments or any Class I Distribution Amounts, (iii) the Group I Cap 1 Account, (iv) the Group I Cap 1 Agreement (v) the Group I Cap 2 Account, (vi) the Group I Cap 2 Agreement, (vii) the Group I Swap Account, (viii) the Group I Swap Agreement, (ix) the Supplemental Interest Trust, (x) any Class II-P Prepayment Charges and (xi) the Carryover Reserve Fund and (collectively, the Yield Maintenance Account and the Yield Maintenance Agreements“Excluded Trust Assets”)) be treated for federal income tax purposes as comprising two ten real estate mortgage investment conduits under Section 860D of the Code (each, each a “REMIC” or, in the alternative, the alternative “LowerREMIC IA,” “REMIC IIA,” “REMIC IIIA,” “REMIC IVA,” “REMIC VA,” “Master REMIC I,” “Class I-Tier C REMIC,” “Class I-P REMIC,” “REMIC IB,” and the “Upper-Tier REMICMaster REMIC II”). Each For purposes of the REMIC Provisions, each Group I Certificate, other than the Class I-R, Class R-X, Class I-P, and Class I-C Certificates and exclusive of the right receive or the obligation to pay any Net Carryover Amounts reflecting any interest rate in excess of the Group I REMIC Maximum Rate, represents ownership of a regular interest in Master REMIC I. For purposes of the REMIC Provisions, each Group II Certificate (other than the Class II-P, Class II-A-R Certificate LR and Class II-A-UR Certificates, the Exchangeable Certificates and the Class A-R-II Certificate, shall Exchangeable REMIC Certificates) and the Uncertificated REMIC Intereststs represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance AccountMaster REMIC II. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class AI-R Certificate represents ownership of the sole class of residual interest in each of REMIC IA, REMIC IIA, REMIC IIIA, REMIC IVA, REMIC VA and Master REMIC I. The Class II-A-LR Certificate represents ownership of the sole class of residual interest in REMIC IB and the Class II-A-UR Certificate represents ownership of the sole class of residual interest in Master REMIC II. The Class R-X Certificate represents ownership of the sole class of residual interest in the UpperClass I-Tier C REMIC and the Class AI-R-II Certificate represents the sole class of residual interest P REMIC. Any inconsistencies or ambiguities in this Agreement or in the Lower-Tier REMICadministration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The LowerClass I-Tier P REMIC shall hold as its assets all the Class I-P interest issued by the Master REMIC I, and such interest is hereby designated as a regular interest in the Class I-P REMIC for purposes of the REMIC Provisions. The Class I-C REMIC shall hold as its assets the Class I-C interest issued by the Master REMIC I, and such interest is hereby designated as a regular interest in the Class I-C REMIC for purposes of the REMIC Provisions. Master REMIC I shall hold as its assets the Class I-P Reserve Fund and the uncertificated interests in REMIC VA, other than the LT5-RA interest, and each such interest is hereby designated as a regular interest in REMIC VA for purposes of the REMIC Provisions. REMIC VA shall hold as its assets the uncertificated interests in REMIC IVA, other than the LT4-RA interest, and each such interest is hereby designated as a regular interest in REMIC IVA for purposes of the REMIC Provisions. REMIC IVA shall hold as its assets the uncertificated interests in REMIC IIIA, other than the LT3-RA interest, and each such interest is hereby designated as a regular interest in REMIC IIIA for purposes of the REMIC Provisions. REMIC IIIA shall hold as its assets the uncertificated interests in REMIC IIA, other than the LT2-RA interest, and each such interest is hereby designated as a regular interest in REMIC IIA for purposes of the REMIC Provisions. REMIC IIA shall hold as its assets the uncertificated interests in REMIC IA, other than the LT1-RA interest, and each such interest is hereby designated as a regular interest in REMIC IA for purposes of the REMIC Provisions. The REMIC IA shall hold as its assets the property of the Trust Fund other than relating to the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC InterestsGroup I Mortgage Loans, other than the Class LTinterests in REMIC IVA, REMIC IIIA, REMIC IIA and REMIC IA, and the Excluded Trust Assets. Master REMIC II shall hold as its assets the uncertificated interests in REMIC IB, other than the LT1-R InterestRB interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each and each such Lower-Tier Interest interest is hereby designated as a regular interest in REMIC IB for purposes of the REMIC Provisions. The REMIC IB shall hold as its assets the property of the Trust Fund relating to the Group II Mortgage Loans, other than the interests in REMIC IB and the Excluded Trust Assets. The startup day for each REMIC created hereby for purposes of the REMIC Provisions is the Closing Date. In addition, for purposes of the REMIC Provisions, the latest possible maturity date for each regular interestinterest in each REMIC created hereby is the Latest Possible Maturity Date.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-1), Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-two classes of certificates, designated as (i) the Class 1-A-1A AV-1 Certificates, (ii) the Class 1-A-1B AV-2 Certificates, (iii) the Class 2-A-1A AV-3 Certificates, (iv) the Class 2-A-1B AF-1 Certificates, (v) the Class 2-A-1C AF-2 Certificates, (vi) the Class X-1 AF-3 Certificates, (vii) the Class X-2 AF-4 Certificates, (viii) the Class PO-1 AF-5 Certificates, (ix) the Class PO-2 AF-6 Certificates, (x) the Class A-R Certificates, M-1 Certificates (xi), ) the Class A-R-II M-2 Certificates, (xii) the Class P M-3 Certificates, (xiii) the Class B-1 M-4 Certificates, (xiv) the Class B-2 M-5 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 M-6 Certificates, (xvii) the Class B-5 M-7 Certificates, (xviii) the Class B-6 Certificates and M-8 Certificates, (xix) the Class B-7 M-9 Certificates, (xx) the Class C Certificates, (xxi) the Class P Certificates and (xxii) the Class R Certificates. As provided herein, the Trustee Securities Administrator shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in the Basis Risk Reserve Fund Account, the Interest Rate Swap Agreement, the Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance Agreementsany Servicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class A-R-II Certificatecertificated. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest._______________
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Renaissance Home Equity Loan Trust 2007-3), Pooling and Servicing Agreement (Renaissance Home Equity Loan Trust 2007-3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell mortgage pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classesClasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated Mortgage Loans (as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xidefined herein), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that will make, in accordance with Section 9.12, an election to treat the Trust Fund (exclusive entire segregated pool of the assets held described in the Basis Risk Reserve Fund definition of REMIC I (as defined herein), and the Yield Maintenance Account and the Yield Maintenance Agreementssubject to this Agreement, as a real estate mortgage investment conduit (a “REMIC”) be treated for federal income tax purposes and such segregated pool of assets will be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC I.” or, in the alternative, The REMIC I Regular Interests will be the “Lowerregular interests” in REMIC I and the Class R-Tier REMICI Certificates will be the sole class of “residual interests” in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. A segregated pool of assets consisting of the REMIC I Regular Interests will be designated as “REMIC II,” and the “UpperTrustee will make, in accordance with Section 9.12, a separate REMIC election with respect thereto. The Class ▇-Tier REMIC”). Each Certificate▇, other than ▇▇▇▇▇ ▇-▇, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Uncertificated Class A-IO-1 Component and Uncertificated Class A-IO-2 Component (each represented and beneficially owned by a holder of the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1AIO Certificates), Class 1-A-1BM-1, Class 2-A-1AM-2, Class 2-A-1B, Class 2-A-1CM-3, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 B-2 and Class B-7 B-3 Certificates represent the right to receive payments will be “regular interests” in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 REMIC II, and (ii) the Class 1R-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C II Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents will be the sole class of “residual interest in interests” therein for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein) under federal income tax law. The Lower-Tier REMIC shall hold as assets all property of following table irrevocably sets forth the Trust Fund other than the assets held in the Basis Risk Reserve Funddesignation, the Yield Maintenance AccountREMIC I Pass-Through Rate, the Yield Maintenance Agreementsinitial Uncertificated Principal Balance and, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the interests in “latest possible maturity date” for the Lower-Tier REMIC formed herebyI Regular Interests. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier I Regular Interests will not be certificated. REMIC InterestsI Regular Interest Designation REMIC I Pass- Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity(1) M-3 Variable (2) $ 2,922,000.00 June 25, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.2035 ___________________
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-A5), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-A5)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B A-1F1 Certificates, (iii) the Class 2-A-1A A-1F2 Certificates, (iv) the Class 2-A-1B A-2A Certificates, (v) the Class 2-A-1C A-2F Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 B-1 Certificates, (xvi) the Class B-4 P Certificates, (xvii) the Class B-5 X-1 Certificates, (xviii) the Class B-6 Certificates and X-2 Certificates, (xix) the Class B-7 X-S Certificates, (xx) the Class A-R Certificates and (xxi) the Class A-RL Certificates. As provided herein, the Trustee shall elect that will make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (eachPre-Funding Account, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Swap Account, the Yield Maintenance AgreementsCapitalized Interest Account, the Supplemental Interest Trust and the Subsequent Mortgage Loan Interest) as a real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes, and the interests in the Lower-Tier such segregated pool of assets will be designated as “REMIC formed hereby. 1.” The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-RRL Certificates will represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-II CertificateThrough Rate and the initial Uncertificated Principal Balance for each of the “regular interests” in REMIC 1 (the “REMIC 1 Regular Interests”). Each such Lower-Tier Interest is hereby designated as a None of the REMIC regular interest.1 Regular Interests will be certificated. The latest possible maturity date (determined for purposes of satisfying Treasury regulation Section
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Home Equity Mortgage Trust 2005-5), Pooling and Servicing Agreement (Home Equity Mortgage Trust 2005-5)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-two classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2II-A-1C A-4 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8A Certificates, (xiv) the Class B-2 M-8B Certificates, (xv) the Class B-3 M-9 Certificates, (xvi) the Class B-4 M-10 Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 Certificates and P Certificates, (xix) the Class B-7 R Certificates, (xx) the Class R-X Certificates and (xxi) the Class X Certificates, (xxi) the Class X Certificates, (xxii) the Class FL Certificates. As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, the Basis Risk Reserve Fund Cap Agreement, the Interest Rate Cap Agreement, the Cap Account, the Cap Allocation Agreement, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) ________________
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-1), Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-1)
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified) and the Cap Agreements (as hereinafter defined) to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView Mortgage mortgage pass-through certificates designated as ACE Securities Corp. Home Equity Loan Trust 2005Trust, Series 2006-5 Mortgage Loan HE4, Asset Backed Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for ACE Securities Corp. Home Equity Loan Trust, designated Series 2006-HE4, Asset Backed Pass-Through Certificates, dated as of September 1, 2006 (ithe “Pooling and Servicing Agreement”), among the Purchaser as depositor, ▇▇▇▇▇ Fargo Bank, National Association as master servicer (the “Master Servicer”) and securities administrator (the “Securities Administrator”), Ocwen Loan Servicing, LLC as servicer (the “Servicer”) and HSBC Bank USA, National Association as trustee (the “Trustee”). The Purchaser will sell the Class 1-A-1A A-1 Certificates (the “Class A-1 Certificates”), Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates (collectively, the “Class A-2 Certificates”; together with the Class A-1 Certificates, (ii) the “Class 1-A-1B A Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi”), the Class A-R-II CertificatesM-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternativecollectively, the “Lower-Tier REMIC” and the Publicly Offered Mezzanine Certificates”) to Deutsche Bank Securities Inc. (“Upper-Tier REMICDBSI”). Each Certificate, other than pursuant to the Class A-R Certificate Second Amended and the Class A-R-II CertificateRestated Underwriting Agreement, shall represent ownership dated as of a regular interest in the Upper-Tier REMICJune 24, 1999, as described herein. In additionamended and restated to and including January 25, (i) 2006, between the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 Purchaser and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance AgreementsDBSI, and the interests Terms Agreement, dated September 25, 2006 (collectively, the “Underwriting Agreement”), between the Purchaser and DBSI. The Purchaser will sell the Class M-11 Certificates (the “Class M-11 Certificates”; together with the Publicly Offered Mezzanine Certificates, the “Mezzanine Certificates”) to DBSI pursuant to the Purchase Agreement dated as of September 25, 2006 between the Purchaser and DBSI. Capitalized terms used but not defined herein shall have the meanings set forth in the Lower-Tier REMIC formed herebyPooling and Servicing Agreement. The Upper Tier REMIC shall hold parties hereto agree as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-He4), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-He4)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2II-A-1C A-4 Certificates, (vi) the Class X-1 Certificates, M-1 Certificates (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 M-10 Certificates, (xvi) the Class B-4 C Certificates, (xvii) the Class B-5 P Certificates, (xviii) the Class B-6 R Certificates and (xix) the Class B-7 R-X Certificates. As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Pre-Funding Accounts, the Interest Coverage Accounts, any Subsequent Mortgage Loan Interest, the Net WAC Rate Carryover Reserve Account, the Cap Allocation Agreement, the Cap Account, the Interest Rate Swap Agreement, the Swap Acount, the Supplemental Interest Trust, any Servicer Prepayment Charge Payment Amounts, the Basis Risk Reserve Fund Cap Agreement and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Cap Contract) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I-II Certificate. Each such LowerLT1 Variable(2 ) $ 444,210,719.25 February 25, 2037 I-Tier Interest is hereby designated as a REMIC regular interest.LT1PF Variable(2 ) $ 229,839,482.91 February 25, 2▇▇▇ ▇-▇▇▇ Variable(2 ) $ 618,617,188.27 February 25, 2037 I-LT2PF Variable(2 ) $ 337,068,542.52 February 25, 2▇▇▇ ▇-▇▇▇ Variable(2 ) $ 100.00 February 25, 2037 ________________
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-3), Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView DSLA Mortgage Loan Trust 20052004-5 AR1, DSLA Mortgage Loan Pass-Through Certificates, Series 20052004-5 AR1 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen fifteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A A-2A Certificates, (iv) the Class 2-A-1B A-2B Certificates, (v) the Class 2-A-1C X-1 Certificates, (vi) the Class X-1 CertificatesX-2, (vii) the Class X-2 CertificatesA-R Certificate, (viii) the Class PO-1 B-1 Certificates, (ix) the Class PO-2 B-2 Certificates, (x) the Class A-R B-3 Certificates, (xi), ) the Class A-R-II B-4 Certificates, (xii) the Class P B-5 Certificates, (xiii) the Class B-1 Certificates, B-6 Certificates and (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Y Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance AgreementsFund) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1▇-A-1B▇▇, Class 2▇▇▇▇▇ ▇-A-1A▇▇, Class 2▇▇▇▇▇ ▇-A-1B, Class 2-A-1C▇▇, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, and Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.045.07. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunderFund. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier each REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier any REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The Class Y Certificates, which will not have a Class Principal Balance and will not accrue interest, will only be entitled to received on any Distribution Date the excess, if any, of (i) amounts received pursuant to the Yield Maintenance Agreements for that Distribution date over (ii) the portion thereof payable to the Class A-1A, Class A-1B, Class A-2A and Class A-2B Certificates on that Distribution Date. The Class Y Certificates will not represent an interest in any REMIC. The following table specifies the Class designation, interest rate, and initial Class Principal Amount for each Class of Lower-Tier REMIC Interest: Class Designation Interest Rate Initial Principal Balance Corresponding Class of Certificates LTA-1A (1) $ 77,399,000.00 Class A-1A LTA-1B (1) $ 8,600,000.00 Class ▇-▇▇ ▇▇▇-▇▇ (1) $ 98,225,000.00 Class A-2A LTA-2B (1) $ 27,027,000.00 Class A-2B LTA-R (1) $ 25.00 Class A-R LTB-6 (1) $ 920,250.87 Class B-6 LT-Group 1 (2) $ 93,178,214.71 N/A LT-SC-1 (2) $ 299,133.95 N/A LT-Group 2 (3) $ 135,708,010.12 N/A LT-SC-2 (3) $ 435,667.09 N/A LTQ (1) $ 459,242,051.75 N/A LT-R (4) (4) Class A-R __________________________
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (DSLA Mortgage Loan Trust 2004-Ar1), Pooling and Servicing Agreement (DSLA Mortgage Loan Trust 2004-Ar1)
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified) to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView Mortgage mortgage pass-through certificates designated as ACE Securities Corp. Home Equity Loan Trust 2005Trust, Series 2006-5 Mortgage Loan CW1, Asset Backed Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for ACE Securities Corp. Home Equity Loan Trust, designated Series 2▇▇▇-▇▇▇, ▇▇▇▇▇ Backed Pass-Through Certificates, dated as of July 1, 2006 (ithe “Pooling and Servicing Agreement”), among the Purchaser as depositor, W▇▇▇▇ Fargo Bank, National Association as master servicer (the “Master Servicer”) and securities administrator (the “Securities Administrator”) and HSBC Bank USA, National Association as trustee (the “Trustee”). The Purchaser will sell the Class 1-A-1A A-1 Certificates , Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates (collectively, the “Class A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi”), the Class A-R-II CertificatesM-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class M-9 Certificates (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternativecollectively, the “Lower-Tier REMIC” and the Public Mezzanine Certificates”) to Deutsche Bank Securities Inc. (“Upper-Tier REMICDBSI”). Each Certificate, other than pursuant to the Class A-R Certificate Second Amended and the Class A-R-II CertificateRestated Underwriting Agreement, shall represent ownership dated as of a regular interest in the Upper-Tier REMICJune 24, 1999, as described herein. In additionamended and restated to and including January 25, (i) 2006, between the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 Purchaser and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance AgreementsDBSI, and the interests Terms Agreement, dated July19, 2006 (collectively, the “Underwriting Agreement”), between the Purchaser and DBSI. The Purchaser will sell the Class M-10 and M-11 Certificates to DBSI pursuant to the Purchase Agreement dated as of July 19, 2006 between Purchaser and DBSI. Capitalized terms used but not defined herein shall have the meanings set forth in the Lower-Tier REMIC formed herebyPooling and Servicing Agreement. The Upper Tier REMIC shall hold parties hereto agree as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Cw1), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Cw1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen seventeen classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2-A-1C M-1 Certificates, (vi) the Class X-1 M-2 Certificates, (vii) the Class X-2 M-3 Certificates, (viii) the Class PO-1 M-4 Certificates, (ix) the Class PO-2 M-5 Certificates, (x) the Class A-R M-6 Certificates, (xi), ) the Class A-R-II M-7 Certificates, (xii) the Class P M-8 Certificates, (xiii) the Class B-1 M-9 Certificates, (xiv) the Class B-2 C Certificates, (xv) the Class B-3 P Certificates, (xvi) the Class B-4 Certificates, R Certificates and (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R-X Certificates. As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Basis Risk Reserve Fund Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable(2) $ 43,200,091.53 March 25, 2037 II Variable(2) $ 8,046,584.07 March 25, 2037 I-1-II Certificate. Each such LowerB Variable(2) $ 4,917,437.46 March 25, 2037 I-3-Tier Interest is hereby designated as a REMIC regular interest.B Variable(2) $ 6,683,617.74 March 25, 2037 I-4-B Variable(2) $ 7,559,243.48 March 25, 2037 I-5-B Variable(2) $ 8,395,396.74 March 25, 2037 I-6-B Variable(2) $ 9,199,397.74 March 25, 2037 I-7-B Variable(2) $ 9,765,853.13 March 25, 2037 I-8-B Variable(2) $ 9,968,153.03 March 25, 2037 I-10-B Variable(2) $ 9,671,900.88 March 25, 2037 I-11-A Variable(2) $ 9,378,402.50 March 25, 2037 I-11-B Variable(2) $ 9,378,402.50 March 25, 2037 I-12-B Variable(2) $ 9,082,472.90 March 25, 2037 I-13-A Variable(2) $ 8,793,313.47 March 25, 2037 I-13-B Variable(2) $ 8,793,313.47 March 25, 2037 I-14-B Variable(2) $ 8,533,905.53 March 25, 2037 I-15-B Variable(2) $ 8,285,929.66 March 25, 2037 I-16-B Variable(2) $ 8,049,176.19 March 25, 2037 I-17-B Variable(2) $ 7,905,614.92 March 25, 2037 I-18-A Variable(2) $ 9,624,741.95 March 25, 2037 I-18-B Variable(2) $ 9,624,741.95 March 25, 2037 I-19-B Variable(2) $ 12,780,615.97 March 25, 2037 I-20-B Variable(2) $ 14,847,514.92 March 25, 2037 I-21-B Variable(2) $ 15,023,940.84 March 25, 2037 I-25-B Variable(2) $ 6,627,023.32 March 25, 2037 I-26-B Variable(2) $ 5,824,803.04 March 25, 2037 I-27-A Variable(2) $ 5,611,916.17 March 25, 2037 I-27-B Variable(2) $ 5,611,916.17 March 25, 2037 I-28-B Variable(2) $ 5,412,683.97 March 25, 2037 I-29-A Variable(2) $ 5,220,542.54 March 25, 2037 I-29-B Variable(2) $ 5,220,542.54 March 25, 2037 I-30-B Variable(2) $ 5,035,198.16 March 25, 2037 I-31-B Variable(2) $ 4,856,379.46 March 25, 2037 I-32-A Variable(2) $ 4,683,802.84 March 25, 2037 I-32-B Variable(2) $ 4,683,802.84 March 25, 2037 I-33-B Variable(2) $ 4,517,323.52 March 25, 2037 I-34-B Variable(2) $ 4,356,848.75 March 25, 2037 I-35-B Variable(2) $ 4,202,131.89 March 25, 2037 I-36-B Variable(2) $ 1,159,238.77 March 25, 2037 I-38-A Variable(2) $ 3,128,307.81 March 25, 2037 I-38-B Variable(2) $ 3,128,307.81 March 25, 2037 I-39-A Variable(2) $ 3,017,211.50 March 25, 2037 I-39-B Variable(2) $ 3,017,211.50 March 25, 2037 I-40-A Variable(2) $ 2,910,042.28 March 25, 2037 I-40-B Variable(2) $ 2,910,042.28 March 25, 2037 I-41-B Variable(2) $ 2,806,668.77 March 25, 2037 I-42-B Variable(2) $ 2,706,936.27 March 25, 2037 I-43-B Variable(2) $ 2,610,787.79 March 25, 2037 I-44-A Variable(2) $ 2,518,012.45 March 25, 2037 I-44-B Variable(2) $ 2,518,012.45 March 25, 2037 I-45-B Variable(2) $ 2,428,525.11 March 25, 2037 I-47-A Variable(2) $ 2,258,959.29 March 25, 2037 I-47-B Variable(2) $ 2,258,959.29 March 25, 2037 I-48-A Variable(2) $ 2,178,658.48 March 25, 2037 I-48-B Variable(2) $ 2,178,658.48 March 25, 2037 I-49-B Variable(2) $ 2,101,207.67 March 25, 2037 I-50-A Variable(2) $ 2,026,503.61 March 25, 2037 I-50-B Variable(2) $ 2,026,503.61 March 25, 2037 I-51-B Variable(2) $ 1,954,465.65 March 25, 2037 I-52-A Variable(2) $ 1,884,999.52 March 25, 2037 I-52-B Variable(2) $ 1,884,999.52 March 25, 2037 I-53-B Variable(2) $ 1,818,610.34 March 25, 2037 I-54-B Variable(2) $ 1,755,199.05 March 25, 2037 I-55-B Variable(2) $ 1,694,238.85 March 25, 2037 I-57-B Variable(2) $ 1,576,171.65 March 25, 2037 I-58-B Variable(2) $ 1,520,001.97 March 25, 2037 I-59-B Variable(2) $ 1,465,820.83 March 25, 2037 I-60-A Variable(2) $ 1,413,535.84 March 25, 2037 I-60-B Variable(2) $ 1,413,535.84 March 25, 2037 I-61-B Variable(2) $ 1,363,114.00 March 25, 2037 I-62-A Variable(2) $ 1,314,509.59 March 25, 2037 I-62-B Variable(2) $ 1,314,509.59 March 25, 2037 I-63-A Variable(2) $ 35,403,831.08 March 25, 2037 I-63-B Variable(2) $ 35,403,831.08 March 25, 2037
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Cp1), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Cp1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale The Trustee on behalf of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificateswill execute and deliver the Bear Stearns Structured Products Inc. Trust, Series 20052007-5 (the “Certificates”) R8, Class I-A-1, Class I-A-2, Class II-A-1, Class II-A-2, Cl▇▇▇ ▇▇▇-A-1, Class III-A-2, Class IV-A-1, Class IV-A-2, Class V-A-1a, Class V-A-1b, Class V-A-1c, Class V-A-2, Class V-A-3, Class VI-A-1a, Class VI-A-1b, Class VI-A-1c, Class VI-A-2 and Class R Certificates representing in the aggregate the entire beneficial ownership of the TrustTrust (as defined herein), the primary assets of which are the Mortgage Loans Underlying Certificates (as defined belowherein). The Depositor intends to sell some or all of the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. REMIC I As provided herein, the Trustee shall will elect that to treat the segregated pool of assets contained in the Trust Fund (exclusive consisting of the assets held in Underlying Certificates (other than the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance AgreementsUnderlying Group V Certificates) be treated as a REMIC for federal income tax purposes, designated as "REMIC I". For purposes as comprising two real estate mortgage investment conduits (eachof the REMIC Provisions, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than Component I of the Class A-R Certificate and the Class A-R-II Certificate, shall Certificates will represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of "residual interests" in REMIC I. Component I of the Class R Certificates will not bear interest in or have a principal amount. The following table irrevocably sets forth the Upperdesignation, the Uncertificated Pass-Tier REMIC Through Rate (as defined herein) and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold initial Uncertificated Principal Balance (as assets all property defined herein) for each of the Trust Fund Uncertificated REMIC I Regular Interests (as defined herein), which are hereby designated as the "regular interests" in REMIC I. Solely for purposes of satisfying Treasury regulation section 1.860G-1(a)(4)(iii), the Distribution Date immediately following the latest scheduled maturity date for the Underlying Certificates (other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby Underlying Group V Certificates) has been designated as a the "latest possible maturity date" for each of the Uncertificated REMIC regular interestI Regular Interests.
Appears in 2 contracts
Sources: Pooling Agreement (Bear Stearns Structured Products Inc. Trust 2007-R8), Pooling Agreement (Bear Stearns Structured Products Inc. Trust 2007-R8)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2II-A-1C A-4 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 M-10 Certificates, (xvi) the Class B-4 CertificatesM-11 Certificate, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 P Certificates, (xvix) the Class R Certificates and (xixxx) the Class B-7 R-X Certificates. As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Pre-Funding Accounts, any Subsequent Mortgage Loan Interest, the Basis Risk Net WAC Rate Carryover Reserve Fund Account, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) LT1 Variable(2) $ 509,694,907.11 February 2037 LT1PF Variable(2) $ 185,365,645.51 February 2037 LT2 Variable(2) $ 590,304,841.03 February 2037 LT2PF Variable(2) $ 214,634,606.35 February 2037 ________________
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2006-3), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2006-3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass‑through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderTrust. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1I-A-1A A Certificates, (ii) the Class 1II-A-1B A1 Certificates, (iii) the Class 2II-A-1A A2 Certificates, (iv) the Class 2II-A-1B A3 Certificates, (v) the Class 2-A-1C II‑A4 Certificates, (vi) the Class X-1 M‑1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M‑4 Certificates, (x) the Class A-R M‑5 Certificates, (xi), ) the Class A-R-II M‑6 Certificates, (xii) the Class P M‑7 Certificates, (xiii) the Class B-1 M‑8 Certificates, (xiv) the Class B-2 M‑9 Certificates, (xv) the Class B-3 M-10 Certificates, (xvi) the Class B-4 B Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 Certificates and P Certificates, (xix) the Class B-7 R Certificates, (xx) the Class R‑CX Certificates and (xxi) the Class R‑PX Certificates. As provided herein, the Trustee shall elect that make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Reserve Fund, the Basis Risk Supplemental Interest Trust, the Final Maturity Reserve Fund and Trust, the Yield Maintenance Interest Coverage Account and the Yield Maintenance AgreementsServicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R‑1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as comprising two real estate mortgage investment conduits (eachdefined herein) under federal income tax law. The following table irrevocably sets forth the designation, a “REMIC” orthe Uncertificated REMIC 1 Pass‑Through Rate, in the alternativeinitial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G‑1(a)(4)(iii), the “Lowerlatest possible maturity date” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass‑Through Rate Rate Change Date Assumed Final Maturity Date1 IX3 $ 91,012,721.51 Variable2 N/A November 2046 I-5-Tier REMICB 724,073.82 Variable2 November 2046 I-12-B 5,720,371.90 Variable2 November 2046 I-14-B 5,616,680.52 Variable2 November 2046 I-15-B 5,455,296.25 Variable2 November 2046 I-18-A 4,674,500.26 Variable2 May 2008 November 2046 I-18-B 4,674,500.26 Variable2 November 2046 I-20-B 5,528,213.69 Variable2 November 2046 I-21-B 5,240,769.64 Variable2 November 2046 I-22-B 47,271,953.89 Variable2 November 2046 I-23-B 6,443,588.38 Variable2 November 2046 I-24-B 6,661,376.34 Variable2 November 2046 I-25-B 5,736,844.07 Variable2 November 2046 I-26-B 4,434,964.01 Variable2 November 2046 I-27-B 3,663,717.77 Variable2 November 2046 I-28-B 3,161,185.92 Variable2 November 2046 I-29-A 2,747,466.50 Variable2 April 2009 November 2046 I-29-B 2,747,466.50 Variable2 November 2046 I-30-B 2,333,351.15 Variable2 November 2046 I-33-B 1,996,035.21 Variable2 November 2046 I-34-B 2,640,303.00 Variable2 November 2046 I-35-A 371,178.94 Variable2 October 2009 November 2046 I-35-B 371,178.94 Variable2 November 2046 I-38-B 1,942,136.87 Variable2 November 2046 I-40-B 1,764,913.09 Variable2 November 2046 I-41-A 1,676,399.20 Variable2 April 2010 November 2046 I-42-A 1,548,675.58 Variable2 May 2010 November 2046 I-42-B 1,548,675.58 Variable2 November 2046 I-44-A 1,248,031.02 Variable2 July 2010 November 2046 I-44-B 1,248,031.02 Variable2 November 2046 I-45-A 1,195,354.70 Variable2 August 2010 November 2046 I-45-B 1,195,354.70 Variable2 November 2046 I-47-B 1,362,344.89 Variable2 November 2046 I-48-B 1,312,950.54 Variable2 November 2046 I-49-B 1,245,215.60 Variable2 November 2046 I-50-B 1,193,674.38 Variable2 November 2046 I-51-A 1,103,113.95 Variable2 February 2011 November 2046 I-51-B 1,103,113.95 Variable2 November 2046 I-52-A 1,020,761.85 Variable2 March 2011 November 2046 I-52-B 1,020,761.85 Variable2 November 2046 I-53-A 966,559.99 Variable2 April 2011 November 2046 I-53-B 966,559.99 Variable2 November 2046 I-54-B 994,234.22 Variable2 November 2046 I-55-B 1,033,070.16 Variable2 November 2046 I-56-A 935,359.69 Variable2 July 2011 November 2046 I-56-B 935,359.69 Variable2 November 2046 I-57-A 858,790.80 Variable2 August 2011 November 2046 I-57-B 858,790.80 Variable2 November 2046 I-58-A 767,515.77 Variable2 September 2011 November 2046 I-58-B 767,515.77 Variable2 November 2046 I-59-B 11,056,071.12 Variable2 November 2046 IIX3 173,903,265.59 Variable2 N/A November 2046 II-1-B 3,452,994.13 Variable2 November 2046 II-2-B 4,074,496.02 Variable2 November 2046 II-3-B 4,692,764.58 Variable2 November 2046 II-4-B 5,302,799.66 Variable2 November 2046 II-6-B 2,121,653.29 Variable2 November 2046 II-8-B 3,952,346.36 Variable2 November 2046 II-9-B 5,001,236.51 Variable2 November 2046 II-10-B 6,388,425.55 Variable2 November 2046 II-11-A 10,286,135.84 Variable2 October 2007 November 2046 II-11-B 10,286,135.84 Variable2 November 2046 II-12-A 10,930,245.10 Variable2 November 2007 November 2046 II-12-B 10,930,245.10 Variable2 November 2046 II-13-A 11,030,022.73 Variable2 December 2007 November 2046 II-13-B 11,030,022.73 Variable2 November 2046 II-14-B 10,732,115.98 Variable2 November 2046 II-15-B 10,423,749.75 Variable2 November 2046 II-16-B 10,141,474.32 Variable2 November 2046 II-18-A 8,931,837.74 Variable2 May 2008 November 2046 II-18-B 8,931,837.74 Variable2 November 2046 II-19-A 11,216,814.02 Variable2 June 2008 November 2046 II-19-B 11,216,814.02 Variable2 November 2046 II-20-A 10,563,077.31 Variable2 July 2008 November 2046 II-20-B 10,563,077.31 Variable2 November 2046 II-21-B 10,013,841.36 Variable2 November 2046 II-22-B 90,325,253.61 Variable2 November 2046 II-23-B 12,312,136.62 Variable2 November 2046 II-24-B 12,728,276.66 Variable2 November 2046 II-25-B 10,961,719.43 Variable2 November 2046 II-26-A 8,474,141.99 Variable2 January 2009 November 2046 II-26-B 8,474,141.99 Variable2 November 2046 II-27-A 7,000,477.23 Variable2 February 2009 November 2046 II-27-B 7,000,477.23 Variable2 November 2046 II-28-B 6,040,260.58 Variable2 November 2046 II-29-A 5,249,743.00 Variable2 April 2009 November 2046 II-29-B 5,249,743.00 Variable2 November 2046 II-30-A 4,458,468.85 Variable2 May 2009 November 2046 II-30-B 4,458,468.85 Variable2 November 2046 II-31-B 4,178,349.85 Variable2 November 2046 II-32-A 4,013,977.53 Variable2 July 2009 November 2046 II-32-B 4,013,977.53 Variable2 November 2046 II-33-A 3,813,939.79 Variable2 August 2009 November 2046 II-33-B 3,813,939.79 Variable2 November 2046 II-34-A 5,044,979.50 Variable2 September 2009 November 2046 II-34-B 5,044,979.50 Variable2 November 2046 II-35-A 709,233.06 Variable2 October 2009 November 2046 II-35-B 709,233.06 Variable2 November 2046 II-36-B 7,423,525.06 Variable2 November 2046 II-37-B 3,939,801.99 Variable2 November 2046 II-38-A 3,710,953.13 Variable2 January 2010 November 2046 II-38-B 3,710,953.13 Variable2 November 2046 II-39-A 3,533,025.51 Variable2 February 2010 November 2046 II-39-B 3,533,025.51 Variable2 November 2046 II-40-A 3,372,321.41 Variable2 March 2010 November 2046 II-40-B 3,372,321.41 Variable2 November 2046 II-41-A 3,203,192.80 Variable2 April 2010 November 2046 II-41-B 3,203,192.80 Variable2 November 2046 II-42-A 2,959,143.92 Variable2 May 2010 November 2046 II-42-B 2,959,143.92 Variable2 November 2046 II-43-A 2,802,342.40 Variable2 June 2010 November 2046 II-43-B 2,802,342.40 Variable2 November 2046 II-44-A 2,384,684.98 Variable2 July 2010 November 2046 II-44-B 2,384,684.98 Variable2 November 2046 II-45-A 2,284,033.30 Variable2 August 2010 November 2046 II-45-B 2,284,033.30 Variable2 November 2046 II-47-A 2,603,111.11 Variable2 October 2010 November 2046 II-47-B 2,603,111.11 Variable2 November 2046 II-48-A 2,508,730.46 Variable2 November 2010 November 2046 II-48-B 2,508,730.46 Variable2 November 2046 II-49-A 2,379,305.40 Variable2 December 2010 November 2046 II-49-B 2,379,305.40 Variable2 November 2046 II-50-A 2,280,822.62 Variable2 January 2011 November 2046 II-50-B 2,280,822.62 Variable2 November 2046 II-51-A 2,107,783.55 Variable2 February 2011 November 2046 II-51-B 2,107,783.55 Variable2 November 2046 II-52-A 1,950,428.65 Variable2 March 2011 November 2046 II-52-B 1,950,428.65 Variable2 November 2046 II-55-A 1,973,946.84 Variable2 June 2011 November 2046 II-55-B 1,973,946.84 Variable2 November 2046 II-56-A 1,787,245.81 Variable2 July 2011 November 2046 II-56-B 1,787,245.81 Variable2 November 2046 II-57-A 1,640,941.20 Variable2 August 2011 November 2046 II-57-B 1,640,941.20 Variable2 November 2046 II-58-A 1,466,536.73 Variable2 September 2011 November 2046 II-58-B 1,466,536.73 Variable2 November 2046 II-59-A 21,125,473.88 Variable2 October 2011 November 2046 II-59-B 21,125,473.88 Variable2 November 2046 1 Solely for purposes of Section 1.860G‑1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass‑Through Rate” herein. 3 REMIC 1 Regular Interest IX will be entitled to all prepayment penalties or charges with respect to the Group I Mortgage Loans; REMIC 1 Regular Interest IIX will be entitled to all prepayment penalties or charges with respect to the Group II Mortgage Loans. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust, the Interest Coverage Account and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “UpperREMIC 2.” The Class R‑2 Interest shall represent the sole class of “residual interests” in REMIC 2 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 2 Pass-Tier REMIC”Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 2 Regular Interests. Each Certificate, other than None of the Class REMIC 2 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 2 Pass-Through Rate Assumed Final Maturity Date1 AA $744,842,230.21 Variable2 November 2046 A-R Certificate and the Class IA 2,101,980.00 Variable2 November 2046 A-RIIA1 1,647,385.00 Variable2 November 2046 A-II CertificateIIA2 714,610.00 Variable2 November 2046 A-IIA3 1,220,790.00 Variable2 November 2046 A-IIA4 433,605.00 Variable2 November 2046 M1 243,215.00 Variable2 November 2046 M2 228,015.00 Variable2 November 2046 M3 140,610.00 Variable2 November 2046 M4 125,410.00 Variable2 November 2046 M5 125,410.00 Variable2 November 2046 M6 110,205.00 Variable2 November 2046 M7 79,805.00 Variable2 November 2046 M8 79,805.00 Variable2 November 2046 M9 53,205.00 Variable2 November 2046 M10 53,205.00 Variable2 November 2046 B 76,005.00 Variable2 November 2046 ZZ 7,767,601.84 Variable2 November 2046 1GRP 52,223.04 Variable2 November 2046 1SUB 10,183.44 Variable2 November 2046 2GRP 99,785.58 Variable2 November 2046 2SUB 19,457.78 Variable2 November 2046 Swap IO N/A3 Variable2 November 2046 FMR IO N/A4 Variable2 November 2046 XX 759,861,442.21 Variable2 November 2046 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, shall represent ownership of a regular interest the Distribution Date in the Uppermonth following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 2 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 2 Pass-Tier REMIC, as described Through Rate” herein. In addition3 REMIC 2 Regular Interest Swap IO will not have a principal amount but will at all times have a notional amount equal to the aggregate principal amounts of the REMIC 1 Regular Interests with the designation “A”. 4 REMIC 2 Regular Interest FMR IO will not have a principal amount but will at all times have a notional amount equal to the aggregate principal amounts of all of the REMIC 1 Regular Interests. As provided herein, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent Trustee shall make an election to treat the right to receive payments in respect segregated pool of Basis Risk Shortfalls from assets consisting of the Basis Risk Reserve Fund REMIC 2 Regular Interests as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Ba REMIC for federal income tax purposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets shall be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 3.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate R‑3 Interest represents the sole class of “residual interest interests” in REMIC 3 for purposes of the REMIC Provisions. The following table sets forth (or describes) the Class designation, Pass-Through Rate and Original Class Certificate Principal Balance for each Class of Certificates that represents one or more of the “regular interests” in REMIC 3 and each class of uncertificated “regular interests” in REMIC 3: I‑A $420,396,000.00 Variable2 November 2046 II-A1 329,477,000.00 Variable2 November 2046 II-A2 142,922,000.00 Variable2 November 2046 II-A3 244,158,000.00 Variable2 November 2046 II-A4 86,721,000.00 Variable2 November 2046 M‑1 48,643,000.00 Variable2 November 2046 M‑2 45,603,000.00 Variable2 November 2046 M‑3 28,122,000.00 Variable2 November 2046 M‑4 25,082,000.00 Variable2 November 2046 M‑5 25,082,000.00 Variable2 November 2046 M‑6 22,041,000.00 Variable2 November 2046 M‑7 15,961,000.00 Variable2 November 2046 M‑8 15,961,000.00 Variable2 November 2046 M‑9 10,641,000.00 Variable2 November 2046 M-10 10,641,000.00 Variable2 November 2046 B 15,201,000.00 Variable2 November 2046 Swap IO N/A Variable5 November 2046 FM Reserve IO N/A Variable5 November 2046 Class C Interest3 33,434,084.10 Variable2 November 2046 Class P Interest $100.00 N/A4 November 2046 ___________________ 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Uppermonth following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each Class of Certificates or uncertificated interests that represents one or more of the “regular interests” in REMIC 3. 2 Calculated in accordance with the definition of “Pass-Tier Through Rate” herein. 3 The Class C Interest will accrue interest at its variable Pass-Through Rate on its Notional Amount outstanding from time to time, which shall equal the aggregate of the Uncertificated Principal Balances of the REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC2 Regular Interests. The Lower-Tier REMIC shall hold as assets all property Class C Interest will not accrue interest on its Uncertificated Principal Balance. 4 The Class P Interest will not accrue interest. 5 The interests designated “Swap IO” and “FM Reserve IO” will not have principal amounts or interest rates but will be entitled to 100% of the Trust Fund other than the assets held in the Basis Risk Reserve Fundinterest paid on REMIC 2 Regular Interests Swap IO and FMR IO, the Yield Maintenance Account, the Yield Maintenance Agreements, and the respectively. These interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall will not be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interestcertificated.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-9)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 11 Mortgage Loan Pass-Through Certificates, Series 2005-5 11 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-four classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A2 Certificates, (iii) the Class 2-A-1A A-1 Certificates, (iv) the Class 2-A-1B A2A Certificates, (v) the Class 2-A-1C A2B Certificates, (vi) the Class X-1 1-X Certificates, (vii) the Class X-2 X Certificates, (viii) the Class PO-1 PO Certificates, (ix) the Class PO-2 2-PO Certificates, (x) the Class A-R Certificates, (xi)) the Class B-1 Certificates, (xii) the Class B-2 Certificates, (xiii) the Class B-3 Certificates, (xiv) the Class B-4 Certificates, (xv) the Class B-5 Certificates, (xvi) the Class B-6 Certificates, (xvii) the Class 2-B1 Certificates, (xviii) the Class 2-B2 Certificates, (xix) the Class 2-B3 Certificates, (xx) the Class 2-B4 Certificates, (xxi) the Class 2-B5 Certificates, (xxii) the Class 2-B6 Certificates, (xxiii) the Class A-R-II Certificates, Certificates and (xiixxiv) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund Fund, and the Yield Maintenance Account and the Yield Maintenance AgreementsAgreements (collectively, the “Excluded Trust Property”) be treated for federal income tax purposes as comprising two three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 X Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC, and the Class A-R Certificates represent ownership of the sole class of residual interest in the Middle-Tier and the Upper-Tier REMICs. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund Fund, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Excluded Trust Property and the interests in the Lower-Tier REMIC and the Middle-Tier REMIC formed hereby. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest. Lower-Tier REMIC Interests The following table specifies the Class designation, interest rate, and initial principal amount for each Lower-Tier REMIC Interest: Designation Interest Rate Initial Principal Balance Related group LT-Group 1 (1) $ 222,415,510.10 Group 1 LT-Group 1 SCA (1) $ 238,235.96 Group 1 LT-Group 2 (2) $ 463,586,139.55 Group 2 LT-Group 2 SCA (2) $ 496,566.56 Group 2 LT-R (3) (3) N/A
Appears in 1 contract
Sources: Pooling and Servicing Agreement
PRELIMINARY STATEMENT. Through this Agreement, the Depositor The Company intends to cause the issuance and sale of the HarborView sell Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trustcollectively, the primary assets of which are the Mortgage Loans (as defined below"Certificates"). The Depositor intends to sell the Certificates , to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesFund. As provided herein, the Trustee shall elect that REMIC Administrator will make an election to treat the Trust Fund (exclusive entire segregated pool of the assets held described in the Basis Risk definition of Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Initial Monthly Payment Fund, the Yield Maintenance Agreement and any payments thereunder and the Reserve Fund and any payments therefrom), as a real estate mortgage investment conduit (the Yield Maintenance Account and the Yield Maintenance Agreements"REMIC") be treated for federal income tax purposes and such segregated pool of assets will be designated as comprising two real estate mortgage investment conduits (each, a “REMIC” or, "REMIC I." The Uncertificated REMIC Regular I Interests will be "regular interests" in the alternative, the “Lower-Tier REMIC” REMIC I and the “UpperClass R-Tier REMIC”I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein). Each CertificateA segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, other than the Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-14 Certificates, Class A-15 Certificates, Class A-16 Certificates, Class A-R Certificate P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z will be "regular interests" in REMIC II. The Class A-R-II Certificate, shall represent ownership Certificates will be the sole class of a regular interest "residual interests" in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners REMIC II for purposes of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunderProvisions. The Class A-R Certificate represents V Certificates will represent the sole class of residual entire beneficial ownership interest in the Upper-Tier Uncertificated REMIC II Regular Interests Z. The terms and provisions of the Class A-R-II Certificate represents the sole class of residual interest Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the LowerStandard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-Tier REMICreference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Lower-Tier REMIC Pooling and Servicing Agreement shall hold be dated as assets all property of the Trust Fund other than date of the assets held in Series Supplement. The following table sets forth the Basis Risk Reserve Funddesignation, the Yield Maintenance Accounttype, the Yield Maintenance AgreementsPass-Through Rate, aggregate Initial Certificate Principal Balance, Maturity Date, initial ratings and certain features for each Class of Certificates comprising the interests in the LowerTrust Fund created hereunder. Aggregate Initial Certificate Pass-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Through Principal Maturity Minimum Designation Rate Balance Features(1) Date Moody's/S&P/Fitch Denominations(2) Class LT-R Interest, ownership of which shall be evidenced by the A-1 5.50% $34,400,000.00 Senior/Fixed Rate September 2036 Aaa/AAA/AAA $100,000.00 Class A-2 Variable $25,000,000.00 Senior/ Floater/Adjustable Rate September 2036 Aaa/AAA/AAA $100,000.00 Rate(3) Senior/Inverse Class A-3(3) Variable Floater/Interest Rate(3) Notional(3) Only/Adjustable Rate September 2036 Aaa/AAA/AAA $1,000,000.00 Class A-4 6.00% Notional(4) Senior/Interest Only/Fixed Rate September 2036 Aaa/AAA/AAA $1,000,000.00 Class A-5 6.00% Senior Support/Lockout/Fixed September 2036 Aaa/AAA/AAA $100,000.00 $2,600,000.00 Rate Class A-6 6.00% $37,400,000.00 Super Senior/Lockout/Fixed Rate September 2036 Aaa/AAA/AAA $100,000.00 Class A-7 0.00% $6,250,000.00 Senior/Principal Only September 2036 Aaa/AAA/AAA $100,000.00 Class A-8 5.50% $60,000,000.00 Senior/Fixed Rate September 2036 Aaa/AAA/AAA $100,000.00 Class A-9 6.00% Notional(5) Senior/Interest Only/Fixed Rate September 2036 Aaa/AAA/AAA $1,000,000.00 Class A-10 6.00% $58,750,000.00 Senior/Fixed Rate September 2036 Aaa/AAA/AAA $100,000.00 Class A-11 Variable Senior/Floater/Adjustable Rate September 2036 Aaa/AAA/AAA $100,000.00 Rate(6) $53,340,000.00 Senior/Inverse Class A-12 Variable Floater/Interest Rate(6) Notional(6) Only/Adjustable Rate September 2036 Aaa/AAA/AAA $1,000,000.00 Class A-13(7) Variable Senior/Floater/Adjustable Rate September 2036 Aaa/AAA/AAA $100,000.00 Rate $50,080,000.00 Class A-14(7) Variable Senior/Inverse September 2036 Aaa/AAA/AAA $100,000.00 Rate $12,520,000.00 Floater/Adjustable Rate Class A-15 6.00% $8,546,000.00 Senior/Fixed Rate September 2036 Aaa/AAA/AAA $100,000.00 Class A-16 6.00% $51,000,000.00 Senior/Fixed Rate September 2036 Aaa/AAA/AAA $100,000.00 Class A-P 0.00% $773,946.90 Senior/Principal Only September 2036 Aaa/AAA/AAA $100,000.00 Class A-V Variable Notional Senior/Interest Only/Variable September 2036 Aaa/AAA/AAA $2,000,000.00 Rate Rate Class R-I 6.00% $100.00 Senior/Residual/Fixed Rate September 2036 Aaa/AAA/AAA (8) Class R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.6.00% $100.00 Senior/Residual/Fixed Rate September 2036 Aaa/AAA/AAA (8) Class M-1 6.00% $8,949,900.00 Mezzanine/Fixed Rate September 2036 NA/NA/AA $100,000.00 Class M-2 6.00% $2,497,600.00 Mezzanine/Fixed Rate September 2036 NA/NA/A $250,000.00 Class M-3 6.00% $1,665,000.00 Mezzanine/Fixed Rate September 2036 NA/NA/BBB $250,000.00 Class B-1 6.00% $832,500.00 Subordinate/Fixed Rate September 2036 NA/NA/BB $250,000.00 Class B-2 6.00% $832,500.00 Subordinate/Fixed Rate September 2036 NA/NA/B $250,000.00 Class B-3 6.00% $832,796.62 Subordinate/Fixed Rate September 2036 NA/NA/NA $250,000.00
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2006-S8 Trust)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates "Certificates"), to be issued hereunder in multiple classesClasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes seventeen Classes of certificatesCertificates, designated as (i) the Class 1-A-1A 1AV-1, Class 2AV-1, Class 2AV-2, Class AF-1, Class AF-2, Class AF-3, Class AF-4, Class AF-5 and Class AF-6 Certificates, (ii) the Class 1-A-1B M-1, Class M-2, Class M-3, Class M-4 and Class M-5 Certificates, (iii) the Class 2-A-1A M-6 Certificates, (iv) the Class 2-A-1B N Certificates, (v) the Class 2-A-1C Certificates, X Certificates and (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates. The Depositor hereby assigns to the Trustee, acting on behalf of the Certificateholders its interests and rights in the Mortgage Loans (xiexclusive of any Arrearage in respect of Delinquent Mortgage Loans), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive will make multiple elections to treat segregated pools of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated subject to this Agreement for federal income tax purposes as comprising two the following five separate real estate mortgage investment conduits (each, a “"REMIC” or"): the Subsidiary REMIC, the Intermediate REMIC, the Master REMIC, the Class M-6 REMIC, and the Class X REMIC. The Subsidiary REMIC will consist of (a) all of the assets constituting the Group 1 Mortgage Loans, (b) all of the assets constituting the Group 2 Mortgage Loans, and (c) all of the assets constituting the Group 3 Mortgage Loans. The Subsidiary REMIC will issue (1) uncertificated REMIC regular interests designated with an "1-" (the "Subsidiary REMIC Regular Interests"). The Subsidiary REMIC Regular Interests will be uncertificated and will represent the "regular interests" in the alternative, the “Lower-Tier REMIC” Subsidiary REMIC and the “Upper-Tier SR Interest will represent the single class of "residual interest" in the Subsidiary REMIC”). Each CertificateThe Trustee will hold the Subsidiary REMIC Regular Interests for the benefit of the Intermediate REMIC. The Intermediate REMIC will consist of the Subsidiary REMIC Regular Interests and will be evidenced by (i) the Intermediate REMIC Regular Interests, which will be uncertificated and will represent the "regular interests" in the Intermediate REMIC and (ii) the IR Interest, which will represent the single class of "residual interest" in the Intermediate REMIC. The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the Master REMIC Regular Interests and will be evidenced by (i) the Regular Certificates (other than the Class A-R Certificate M-6, and Class X Certificates), the Class A-R-II CertificateM-6 Interest, shall and Class X Interest, which will represent ownership of a the "regular interest interests" in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 Master REMIC and (ii) the Class 1-A-1AMR Interest, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates which will represent the right to receive payments in respect single class of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest "residual interest" in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier Master REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Financial Asset Sec Corp C Bass Mort Ln as Bk Cert Se 03 Cb6)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2II-A-1C A-4 Certificates, (vi) the Class X-1 Certificates, M-1 Certificates (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 M-10 Certificates, (xvi) the Class B-4 M-11 Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 Certificates and P Certificates, (xix) the Class B-7 R Certificates and (xx) the Class R-X Certificates. As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, the Basis Risk Reserve Fund Swap Account, the Serivicer Prepayment Charge Payment Amounts, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated subject to this Agreement as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable(2) $ 23,368,468.55 June 25, 2036 I-1-II Certificate. Each such LowerA Variable(2) $ 14,947,947.76 June 25, 2036 I-1-Tier Interest is hereby designated as a REMIC regular interest.B Variable(2) $ 14,947,947.76 June 25, 2036 I-2-B Variable(2) $ 18,206,619.69 June 25, 2036 I-3-A Variable(2) $ 21,430,120.35 June 25, 2036 I-3-B Variable(2) $ 21,430,120.35 June 25, 2036 I-4-B Variable(2) $ 24,586,949.30 June 25, 2036 I-5-A Variable(2) $ 27,644,591.42 June 25, 2036 I-5-B Variable(2) $ 27,644,591.42 June 25, 2036 I-6-A Variable(2) $ 30,569,941.12 June 25, 2036 I-6-B Variable(2) $ 30,569,941.12 June 25, 2036 I-7-A Variable(2) $ 33,329,213.37 June 25, 2036 I-7-B Variable(2) $ 33,329,213.37 June 25, 2036 I-8-A Variable(2) $ 35,869,612.36 June 25, 2036 I-8-B Variable(2) $ 35,869,612.36 June 25, 2036 I-9-B Variable(2) $ 35,825,178.19 June 25, 2036 I-10-B Variable(2) $ 34,211,367.51 June 25, 2036 I-11-A Variable(2) $ 32,606,785.36 June 25, 2036 I-11-B Variable(2) $ 32,606,785.36 June 25, 2036 I-12-A Variable(2) $ 31,078,587.49 June 25, 2036 I-12-B Variable(2) $ 31,078,587.49 June 25, 2036 I-13-A Variable(2) $ 29,623,103.40 June 25, 2036 I-13-B Variable(2) $ 29,623,103.40 June 25, 2036 I-14-A Variable(2) $ 28,236,839.95 June 25, 2036 I-14-B Variable(2) $ 28,236,839.95 June 25, 2036 I-15-A Variable(2) $ 26,916,472.83 June 25, 2036 I-15-B Variable(2) $ 26,916,472.83 June 25, 2036 I-16-A Variable(2) $ 25,658,838.31 June 25, 2036 I-16-B Variable(2) $ 25,658,838.31 June 25, 2036 I-17-B Variable(2) $ 24,460,925.51 June 25, 2036 I-18-A Variable(2) $ 23,322,864.40 June 25, 2036 I-18-B Variable(2) $ 23,322,864.40 June 25, 2036 I-19-A Variable(2) $ 22,292,650.47 June 25, 2036 I-19-B Variable(2) $ 22,292,650.47 June 25, 2036 I-20-B Variable(2) $ 50,202,495.98 June 25, 2036 I-21-A Variable(2) $ 59,556,700.53 June 25, 2036 I-21-B Variable(2) $ 59,556,700.53 June 25, 2036 I-22-B Variable(2) $ 50,144,642.55 June 25, 2036 I-23-B Variable(2) $ 41,724,602.71 June 25, 2036 I-24-A Variable(2) $ 22,598,774.85 June 25, 2036 I-24-B Variable(2) $ 22,598,774.85 June 25, 2036 I-25-A Variable(2) $ 12,625,657.12 June 25, 2036 I-25-B Variable(2) $ 12,625,657.12 June 25, 2036 I-26-A Variable(2) $ 11,625,530.54 June 25, 2036 I-26-B Variable(2) $ 11,625,530.54 June 25, 2036 I-27-A Variable(2) $ 10,992,212.62 June 25, 2036 I-27-B Variable(2) $ 10,992,212.62 June 25, 2036 I-28-B Variable(2) $ 10,394,642.02 June 25, 2036 I-29-A Variable(2) $ 9,832,240.18 June 25, 2036 I-29-B Variable(2) $ 9,832,240.18 June 25, 2036 I-30-A Variable(2) $ 9,301,839.51 June 25, 2036 I-30-B Variable(2) $ 9,301,839.51 June 25, 2036 I-31-B Variable(2) $ 8,801,561.89 June 25, 2036 I-32-A Variable(2) $ 8,329,646.18 June 25, 2036 I-32-B Variable(2) $ 8,329,646.18 June 25, 2036 I-33-A Variable(2) $ 7,884,377.73 June 25, 2036 I-33-B Variable(2) $ 7,884,377.73 June 25, 2036 I-34-A Variable(2) $ 7,463,327.34 June 25, 2036 I-34-B Variable(2) $ 7,463,327.34 June 25, 2036 I-35-A Variable(2) $ 7,066,978.71 June 25, 2036 I-35-B Variable(2) $ 7,066,978.71 June 25, 2036 I-36-B Variable(2) $ 6,693,019.96 June 25, 2036 I-37-B Variable(2) $ 6,340,055.33 June 25, 2036 I-38-A Variable(2) $ 6,006,865.12 June 25, 2036 I-38-B Variable(2) $ 6,006,865.12 June 25, 2036 I-39-A Variable(2) $ 5,692,295.39 June 25, 2036 I-39-B Variable(2) $ 5,692,295.39 June 25, 2036 I-40-A Variable(2) $ 5,395,220.53 June 25, 2036 I-40-B Variable(2) $ 5,395,220.53 June 25, 2036 I-41-A Variable(2) $ 5,114,738.26 June 25, 2036 I-41-B Variable(2) $ 5,114,738.26 June 25, 2036 I-42-A Variable(2) $ 103,709,744.93 June 25, 2036 I-42-B Variable(2) $ 103,709,744.93 June 25, 2036 ________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Opt3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052006-5 6 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen thirty-eight classes of certificates, designated as (i) the Class 1-A-1A 1A-1A Certificates, (ii) the Class 1-A-1B 1A-1B Certificates, (iii) the Class 2-A-1A 2A-1A Certificates, (iv) the Class 2-A-1B 2A-1B Certificates, (v) the Class 2-A-1C 3A-1A Certificates, (vi) the Class X-1 3A-1B Certificates, (vii) the Class X-2 4A-1A Certificates, (viii) the Class PO-1 4A-1B Certificates, (ix) the Class PO-2 5A-1A Certificates, (x) the Class 5A-1B Certificates, (xi) the Class X-1 Certificates, (xii) the Class X-4 Certificates, (xiii) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiiixiv) the Class B-1 Certificates, (xivxv) the Class B-2 Certificates, (xvxvi) the Class B-3 Certificates, (xvixvii) the Class B-4 Certificates, (xviixviii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 B-6 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier each REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund Fund, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC and the Middle-Tier REMIC formed hereby. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Harborview 2006-6)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052006-5 7 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist of nineteen fourteen classes of certificates, designated as (i) the Class 1-A-1A 1A Certificates, (ii) the Class 1-A-1B 2A-1A Certificates, (iii) the Class 2-A-1A 2A-1B Certificates, (iv) the Class 2-A-1B 2A-1C Certificates, (v) the Class 2-A-1C B-1 Certificates, (vi) the Class X-1 B-2 Certificates, (vii) the Class X-2 B-3 Certificates, (viii) the Class PO-1 B-4 Certificates, (ix) the Class PO-2 B-5 Certificates, (x) the Class A-R B-6 Certificates, (xi), ) the Class A-R-II B-7 Certificates, (xii) the Class P C Certificates, (xiii) the Class B-1 P Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and Fund, the Yield Maintenance Account and Trust, the Yield Maintenance AgreementsAccount, the Yield Maintenance Agreement, the Final Maturity Reserve Trust and the Final Maturity Reserve Account (the “Excluded Trust Property”)) be treated for federal income tax purposes as comprising comprises two real estate mortgage investment conduits (each, REMICs in a “REMIC” or, in the alternative, tiered REMIC structure—the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). .” Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 The LIBOR Certificates also represent the right to receive (i) payments in respect of the Final Maturity Reserve Account, (ii) payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.045.01(h). The owners of the Class X-1 and Class X-2 C Certificates beneficially own the Basis Risk Reserve Fund Fund, the Final Maturity Reserve Account, the Final Maturity Reserve Trust, the Yield Maintenance Trust, and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC. The Lower-Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and will issue interests (the “Lower-Tier Regular Interests”) (which will be uncertificated and will represent the regular interests in the Lower-Tier REMIC) and a residual interest (the “Class ALT-R-II Certificate represents R Interest”) which will also be uncertificated and which will represent the sole class of residual interest in the Lower-Tier REMIC. The Trustee will hold the Lower-Tier Regular Interests as assets of the Upper-Tier REMIC. For purposes of the REMIC Provisions, the startup day for the Lower-Tier REMIC shall hold as assets all property and the Upper-Tier REMIC is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. The following table sets forth (or describes) the designation, interest rate, and initial principal balance of each Lower-Tier Interest in the Trust Fund Lower-Tier REMIC, each of which, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests LT-R Lower-Tier Interest) is hereby designated as a regular interest in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets (the uncertificated “Lower-Tier REMIC Regular Interests, other than the Class ): LT-1A (1) $ 378,188,000.00 1A LT-2A-1A (1) $ 343,503,500.00 2A-1A LT-2A-1B (1) $ 143,126,500.00 2A-1B LT-2A-1C (1) $ 85,876,000.00 2A-1C LT-Q (1) $ 1,008,387,422.20 N/A LT-I (2) (2) N/A LT-R Interest, ownership of which shall be evidenced by the Class (3) (3) N/A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Harborview 2006-7)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 6 Mortgage Loan Pass-Through Certificates, Series 2005-5 6 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twelve classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A X Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (v) the Class B-1 Certificates, (vi) the Class B-2 Certificates, (vii) the Class B-3 Certificates, (viii) the Class B-4 Certificates, (ix) the Class B-5 Certificates, (x) the Class B-6 Certificates, (xi), ) the Class P Certificate and (xii) the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesCertificate. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and Fund, the Yield Maintenance Account and the Yield Maintenance AgreementsAgreement and payments made with respect to Prepayment Premiums) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the P, Class A-R-II Certificateand Class A-R Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 X Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the REMIC. The Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund (other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, Account and the Yield Maintenance Agreements, Agreement) and the interests in the Lower-Tier any REMIC formed hereby. The Upper Upper-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The following table specifies the Class designation, interest rate, and initial Class Principal Amount for each Class of Lower-Tier REMIC Interest: Lower-Tier REMIC Class Designation Interest Rate Initial Class Principal Balance Corresponding Class of Certificates Class LT-A-1A (1) (2) A-1 Class LT-A-1B (1) (2) A-2 Class LT-B-1 (1) (2) B-1 Class LT-A-R (1) (2) A-R Class LT-B-2 (1) (2) B-2 Class LT-B-3 (1) (2) B-3 Class LT-B-4 (1) (2) B-4 Class LT-B-5 (1) (2) B-5 Class LT-B-6 (1) (2) B-6 Class LT-R (3) (3) N/A __________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2005-6)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052007-5 1 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist of nineteen seventeen classes of certificates, designated as (i) the Class 1-A-1A 1A-1A Certificates, (ii) the Class 1-A-1B 1A-1B Certificates, (iii) the Class 2-A-1A 2A-1A Certificates, (iv) the Class 2-A-1B 2A-1B Certificates, (v) the Class 2-A-1C 2A-1C1 Certificates, (vi) the Class X-1 2A-1C2 Certificates, (vii) the Class X-2 B-1 Certificates, (viii) the Class PO-1 B-2 Certificates, (ix) the Class PO-2 B-3 Certificates, (x) the Class A-R B-4 Certificates, (xi), ) the Class A-R-II B-5 Certificates, (xii) the Class P B-6 Certificates, (xiii) the Class B-1 B-7 Certificates, (xiv) the Class B-2 B-8 Certificates, (xv) the Class B-3 C Certificates, (xvi) the Class B-4 Certificates, P Certificates and (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and Fund, the Yield Maintenance Trust, the Yield Maintenance Trust Account, the Yield Maintenance Account, the Yield Maintenance Agreement, the Final Maturity Reserve Trust, the Final Maturity Reserve Account and the Yield Maintenance AgreementsCollateral Account (the “Excluded Trust Property”)) be treated for federal income tax purposes as comprising comprises two real estate mortgage investment conduits (each, REMICs in a “REMIC” or, in the alternative, tiered REMIC structure: the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). .” Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 The LIBOR Certificates also represent the right to receive (i) payments from the Final Maturity Reserve Account, (ii) payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (iiiii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.045.01(h). The owners of the Class X-1 and Class X-2 C Certificates beneficially own the Basis Risk Reserve Fund Fund, the Final Maturity Reserve Account, the Final Maturity Reserve Trust, the Yield Maintenance Trust, the Yield Maintenance Trust Account and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC, as well as the sole residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and will issue 18 uncertificated interests, 17 of which shall be the Class A“Lower-RTier Regular Interests” and one residual interest (the “LT-II Certificate represents R Interest”), which will represent the sole class of residual interest in the Lower-Tier REMIC. The LowerUpper-Tier REMIC shall will hold as its assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier Regular Interests and shall issue the Certificates. For purposes of the REMIC formed herebyProvisions, the startup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. The Upper Tier REMIC shall hold as assets following table sets forth (or describes) the uncertificated designation, interest rate, and initial principal balance of each Lower-Tier REMIC Interests, other than Regular Interest and the Class LT-R Interest, ownership of which shall be evidenced by the Class : LT-1A-1A (1) $ 189,733,000.00 1A-1A LT-1A-1B (1) $ 126,488,500.00 1A-1B LT-2A-1A (1) $ 293,857,000.00 2A-1A LT-2A-1B (1) $ 122,440,000.00 2A-1B LT-2A-1C1 (1) $ 25,000,000.00 2A-1C1 LT-2A-1C2 (1) $ 48,464,000.00 2A-1C2 LT- B-1 (1) $ 24,301,000.00 B-1 LT- B-2 (1) $ 14,400,500.00 ▇-▇ ▇▇-▇-▇ (1) $ 8,550,500.00 ▇-▇ ▇▇-▇-▇ (1) $ 11,250,000.00 ▇-▇ ▇▇-▇-▇ (1) $ 9,000,500.00 ▇-▇ ▇▇-▇-▇ (1) $ 9,450,500.00 ▇-▇ ▇▇-▇-▇ (1) $ 7,200,500.00 ▇-▇ ▇▇-▇-▇ (1) $ 5,400,000.00 B-8 LT-P (1) $ 50.00 P LT-Q (1) $ 904,536,259.69 N/A LT-I (2) (2) N/A LT-R (3) (3) N/A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (HarborView 2007-1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen eighteen classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2II-A-1C A-4 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 C Certificates, (xvi) the Class B-4 P Certificates, (xvii) the Class B-5 Certificates, R Certificates and (xviii) the Class B-6 Certificates and (xix) the Class B-7 R-X Certificates. As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Basis Risk Reserve Fund Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable (2) $ 57,499,713.55 April 25, 2037 II Variable (2) $ 7,246,037.50 April 25, 2037 I-2-II Certificate. Each such LowerB Variable (2) $ 5,754,871.25 April 25, 2037 I-4-Tier Interest is hereby designated as a REMIC regular interest.B Variable (2) $ 7,855,693.75 April 25, 2037 I-5-B Variable (2) $ 8,867,846.25 April 25, 2037 I-6-B Variable (2) $ 9,850,336.25 April 25, 2037 I-9-B Variable (2) $ 12,024,187.50 April 25, 2037 I-11-B Variable (2) $ 11,518,181.25 April 25, 2037 I-14-B Variable (2) $ 10,555,516.25 April 25, 2037 I-15-A Variable (2) $ 10,258,031.25 April 25, 2037 I-15-B Variable (2) $ 10,258,031.25 April 25, 2037 I-16-B Variable (2) $ 10,063,662.50 April 25, 2037 I-17-B Variable (2) $ 9,785,086.25 April 25, 2037 I-18-B Variable (2) $ 9,610,552.50 April 25, 2037 I-21-B Variable (2) $ 17,945,296.25 April 25, 2037 I-27-B Variable (2) $ 7,099,995.00 April 25, 2037 I-28-B Variable (2) $ 6,859,652.50 April 25, 2037 I-34-B Variable (2) $ 5,581,920.00 April 25, 2037 I-35-B Variable (2) $ 5,394,015.00 April 25, 2037 I-38-B Variable (2) $ 4,024,483.75 April 25, 2037 I-39-B Variable (2) $ 3,889,720.00 April 25, 2037 I-40-B Variable (2) $ 3,759,582.50 April 25, 2037 I-41-B Variable (2) $ 3,633,906.25 April 25, 2037 I-42-A Variable (2) $ 3,512,536.25 April 25, 2037 I-42-B Variable (2) $ 3,512,536.25 April 25, 2037 I-43-B Variable (2) $ 3,395,320.00 April 25, 2037 I-44-B Variable (2) $ 3,282,118.75 April 25, 2037 I-45-B Variable (2) $ 3,172,788.75 April 25, 2037 I-47-B Variable (2) $ 2,965,216.25 April 25, 2037 I-48-A Variable (2) $ 2,866,717.50 April 25, 2037 I-48-B Variable (2) $ 2,866,717.50 April 25, 2037 I-49-A Variable (2) $ 2,771,581.25 April 25, 2037 I-49-B Variable (2) $ 2,771,581.25 April 25, 2037 I-50-A Variable (2) $ 2,679,690.00 April 25, 2037 I-50-B Variable (2) $ 2,679,690.00 April 25, 2037 I-52-B Variable (2) $ 2,505,265.00 April 25, 2037 I-54-B Variable (2) $ 2,343,252.50 April 25, 2037 I-55-A Variable (2) $ 2,267,335.00 April 25, 2037 I-55-B Variable (2) $ 2,267,335.00 April 25, 2037 I-57-B Variable (2) $ 2,124,143.75 April 25, 2037 I-58-B Variable (2) $ 2,054,146.25 April 25, 2037 I-59-B Variable (2) $ 1,986,526.25 April 25, 2037 I-61-B Variable (2) $ 1,858,027.50 April 25, 2037 I-62-B Variable (2) $ 1,796,981.25 April 25, 2037 I-63-A Variable (2) $ 1,738,067.50 April 25, 2037 I-63-B Variable (2) $ 1,738,067.50 April 25, 2037 I-66-B Variable (2) $ 1,573,098.75 April 25, 2037 I-68-B Variable (2) $ 1,472,182.50 April 25, 2037 I-70-B Variable (2) $ 1,377,987.50 April 25, 2037 I-71-A Variable (2) $ 43,378,393.75 April 25, 2037 I-71-B Variable (2) $ 43,378,393.75 April 25, 2037 __________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-3)
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified) and the Interest Rate Swap Agreement to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView Mortgage Loan Trust 2005asset-5 Mortgage Loan Pass-Through Certificatesbacked certificates designated as Nomura Home Equity Loan, Inc., Series 20052006-5 FM1, Asset-Backed Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen (19) classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for Series 2006-FM1, designated dated as of January 1, 2006 (i) the “Pooling and Servicing Agreement”), among the Seller, as seller, the Purchaser as depositor, ▇▇▇▇▇ Fargo Bank, N.A. as master servicer and securities administrator (“▇▇▇▇▇ Fargo”), Equity One, Inc. as servicer, (the “Servicer”), and HSBC Bank USA, National Association as trustee (the “Trustee”). The Purchaser will sell the Class I-A-1, Class II-A-1, Class II-A-2, Class II-A-3, Class II-A-4, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9, Class B-1 and Class B-2 Certificates to Nomura Securities International, Inc. (the “Underwriter”) pursuant to the Underwriting Agreement, dated as of January 1-A-1A Certificates, 2006, between the Purchaser and the Underwriter, and the Terms Agreement, dated January 27, 2006 (ii) collectively, the Class “Underwriting Agreement”), between the Purchaser and the Underwriter. Capitalized terms used but not defined herein shall have the meanings set forth in the Pooling and Servicing Agreement. Pursuant to a custodial agreement, dated as of January 1-A-1B Certificates, 2006 (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi“Custodial Agreement”), the Class A-R-II CertificatesTrustee, the Servicer and ▇▇▇▇▇ Fargo Bank, N.A. as the custodian (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein“Custodian”), the Trustee shall elect that desires to have the Trust Fund (exclusive Custodian take possession of the assets held Mortgages and Mortgage Notes, along with certain other documents specified in the Basis Risk Reserve Fund and Custodial Agreement, as the Yield Maintenance Account and custodian of the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” orTrustee, in accordance with the alternative, the “Lower-Tier REMIC” terms and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04conditions thereof. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold parties hereto agree as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 1 contract
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass‑through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderTrust. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1I-A-1A A Certificates, (ii) the Class 1II-A-1B A1 Certificates, (iii) the Class 2II-A-1A A2 Certificates, (iv) the Class 2II-A-1B A3 Certificates, (v) the Class 2-A-1C II‑A4 Certificates, (vi) the Class X-1 M‑1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M‑4 Certificates, (x) the Class A-R M‑5 Certificates, (xi), ) the Class A-R-II M‑6 Certificates, (xii) the Class P M‑7 Certificates, (xiii) the Class B-1 M‑8 Certificates, (xiv) the Class B-2 M‑9 Certificates, (xv) the Class B-3 M-10 Certificates, (xvi) the Class B-4 M-11 Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 Certificates and P Certificates, (xix) the Class B-7 R Certificates, (xx) the Class R‑CX Certificates and (xxi) the Class R‑PX Certificates. As provided herein, the Trustee shall elect that make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Reserve Fund, the Basis Risk Supplemental Interest Trust, the Final Maturity Reserve Fund Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsServicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R‑1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as comprising two real estate mortgage investment conduits (eachdefined herein) under federal income tax law. The following table irrevocably sets forth the designation, a “REMIC” orthe Uncertificated REMIC 1 Pass‑Through Rate, in the alternativeinitial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G‑1(a)(4)(iii), the “Lowerlatest possible maturity date” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass‑Through Rate Rate Change Date Assumed Final Maturity Date1 IX3 $ 79,407,255.53 Variable2 N/A October 2046 I-1-Tier REMICB 1,612,141.83 Variable2 October 2046 I-3-B 2,079,661.25 Variable2 October 2046 I-4-B 2,349,300.89 Variable2 October 2046 I-5-A 583,177.56 Variable2 March 2007 October 2046 I-5-B 583,177.56 Variable2 October 2046 I-6-B 908,650.37 Variable2 October 2046 I-7-B 1,341,068.76 Variable2 October 2046 I-11-B 4,674,942.23 Variable2 October 2046 I-12-B 4,943,644.18 Variable2 October 2046 I-13-A 4,956,009.49 Variable2 November 2007 October 2046 I-13-B 4,956,009.49 Variable2 October 2046 I-15-B 4,720,417.05 Variable2 October 2046 I-16-B 4,615,823.05 Variable2 October 2046 I-17-B 4,264,581.42 Variable2 October 2046 I-18-A 4,064,442.09 Variable2 April 2008 October 2046 I-18-B 4,064,442.09 Variable2 October 2046 I-19-B 5,085,838.81 Variable2 October 2046 I-20-B 4,783,135.91 Variable2 October 2046 I-21-A 4,502,185.40 Variable2 July 2008 October 2046 I-21-B 4,502,185.40 Variable2 October 2046 I-22-B 40,653,543.84 Variable2 October 2046 I-23-B 5,747,066.39 Variable2 October 2046 I-24-B 6,179,696.49 Variable2 October 2046 I-25-B 5,081,635.45 Variable2 October 2046 I-26-B 3,904,432.47 Variable2 October 2046 I-27-A 3,204,257.97 Variable2 January 2009 October 2046 I-27-B 3,204,257.97 Variable2 October 2046 I-28-B 2,749,939.14 Variable2 October 2046 I-29-A 2,423,822.08 Variable2 March 2009 October 2046 I-29-B 2,423,822.08 Variable2 October 2046 I-30-A 2,015,598.38 Variable2 April 2009 October 2046 I-30-B 2,015,598.38 Variable2 October 2046 I-33-A 1,722,790.50 Variable2 July 2009 October 2046 I-33-B 1,722,790.50 Variable2 October 2046 I-34-A 2,156,000.02 Variable2 August 2009 October 2046 I-34-B 2,156,000.02 Variable2 October 2046 I-35-A 2,158,847.97 Variable2 September 2009 October 2046 I-35-B 2,158,847.97 Variable2 October 2046 I-36-A 828,662.58 Variable2 October 2009 October 2046 I-36-B 828,662.58 Variable2 October 2046 I-38-A 1,655,638.83 Variable2 December 2009 October 2046 I-38-B 1,655,638.83 Variable2 October 2046 I-39-A 1,579,247.12 Variable2 January 2010 October 2046 I-39-B 1,579,247.12 Variable2 October 2046 I-40-A 1,501,957.78 Variable2 February 2010 October 2046 I-40-B 1,501,957.78 Variable2 October 2046 I-41-A 1,452,907.55 Variable2 March 2010 October 2046 I-41-B 1,452,907.55 Variable2 October 2046 I-42-A 1,324,958.19 Variable2 April 2010 October 2046 I-42-B 1,324,958.19 Variable2 October 2046 I-43-A 1,264,783.73 Variable2 May 2010 October 2046 I-43-B 1,264,783.73 Variable2 October 2046 I-44-A 1,061,814.03 Variable2 June 2010 October 2046 I-44-B 1,061,814.03 Variable2 October 2046 I-45-A 1,009,863.74 Variable2 July 2010 October 2046 I-45-B 1,009,863.74 Variable2 October 2046 I-46-A 970,812.76 Variable2 August 2010 October 2046 I-46-B 970,812.76 Variable2 October 2046 I-47-A 1,071,498.16 Variable2 September 2010 October 2046 I-47-B 1,071,498.16 Variable2 October 2046 I-48-B 1,098,816.35 Variable2 October 2046 I-49-A 1,042,665.46 Variable2 November 2010 October 2046 I-49-B 1,042,665.46 Variable2 October 2046 I-50-A 1,000,139.71 Variable2 December 2010 October 2046 I-50-B 1,000,139.71 Variable2 October 2046 I-51-A 924,875.76 Variable2 January 2011 October 2046 I-51-B 924,875.76 Variable2 October 2046 I-52-A 856,477.29 Variable2 February 2011 October 2046 I-52-B 856,477.29 Variable2 October 2046 I-53-A 811,551.11 Variable2 March 2011 October 2046 I-53-B 811,551.11 Variable2 October 2046 I-54-A 835,189.67 Variable2 April 2011 October 2046 I-54-B 835,189.67 Variable2 October 2046 I-55-A 871,345.48 Variable2 May 2011 October 2046 I-55-B 871,345.48 Variable2 October 2046 I-56-A 789,561.43 Variable2 June 2011 October 2046 I-56-B 789,561.43 Variable2 October 2046 I-57-A 725,447.76 Variable2 July 2011 October 2046 I-57-B 725,447.76 Variable2 October 2046 I-58-A 649,402.77 Variable2 August 2011 October 2046 I-58-B 649,402.77 Variable2 October 2046 I-59-B 9,575,564.77 Variable2 October 2046 IIX3 164,395,335.87 Variable2 N/A October 2046 II-1-A 3,337,586.67 Variable2 November 2006 October 2046 II-1-B 3,337,586.67 Variable2 October 2046 II-2-B 3,740,040.79 Variable2 October 2046 II-3-A 4,305,483.25 Variable2 January 2007 October 2046 II-3-B 4,305,483.25 Variable2 October 2046 II-4-A 4,863,713.11 Variable2 February 2007 October 2046 II-4-B 4,863,713.11 Variable2 October 2046 II-5-A 1,207,341.44 Variable2 March 2007 October 2046 II-5-B 1,207,341.44 Variable2 October 2046 II-6-A 1,881,161.63 Variable2 April 2007 October 2046 II-7-A 2,776,389.24 Variable2 May 2007 October 2046 II-7-B 2,776,389.24 Variable2 October 2046 II-8-A 3,673,836.63 Variable2 June 2007 October 2046 II-8-B 3,673,836.63 Variable2 October 2046 II-9-B 4,697,931.48 Variable2 October 2046 II-10-A 5,951,577.23 Variable2 August 2007 October 2046 II-10-B 5,951,577.23 Variable2 October 2046 II-11-A 9,678,444.27 Variable2 September 2007 October 2046 II-11-B 9,678,444.27 Variable2 October 2046 II-12-A 10,234,732.82 Variable2 October 2007 October 2046 II-12-B 10,234,732.82 Variable2 October 2046 II-13-A 10,260,332.51 Variable2 November 2007 October 2046 II-13-B 10,260,332.51 Variable2 October 2046 II-14-A 10,012,049.30 Variable2 December 2007 October 2046 II-14-B 10,012,049.30 Variable2 October 2046 II-15-A 9,772,589.95 Variable2 January 2008 October 2046 II-15-B 9,772,589.95 Variable2 October 2046 II-16-A 9,556,050.95 Variable2 February 2008 October 2046 II-16-B 9,556,050.95 Variable2 October 2046 II-17-A 8,828,882.08 Variable2 March 2008 October 2046 II-17-B 8,828,882.08 Variable2 October 2046 II-18-A 8,414,537.41 Variable2 April 2008 October 2046 II-18-B 8,414,537.41 Variable2 October 2046 II-19-A 10,529,115.69 Variable2 May 2008 October 2046 II-19-B 10,529,115.69 Variable2 October 2046 II-20-A 9,902,435.59 Variable2 June 2008 October 2046 II-20-B 9,902,435.59 Variable2 October 2046 II-21-A 9,320,789.10 Variable2 July 2008 October 2046 II-21-B 9,320,789.10 Variable2 October 2046 II-22-A 84,164,261.16 Variable2 August 2008 October 2046 II-22-B 84,164,261.16 Variable2 October 2046 II-23-A 11,898,042.61 Variable2 September 2008 October 2046 II-23-B 11,898,042.61 Variable2 October 2046 II-24-A 12,793,708.51 Variable2 October 2008 October 2046 II-24-B 12,793,708.51 Variable2 October 2046 II-25-A 10,520,413.55 Variable2 November 2008 October 2046 II-25-B 10,520,413.55 Variable2 October 2046 II-26-A 8,083,272.53 Variable2 December 2008 October 2046 II-26-B 8,083,272.53 Variable2 October 2046 II-27-A 6,633,714.53 Variable2 January 2009 October 2046 II-27-B 6,633,714.53 Variable2 October 2046 II-28-A 5,693,146.86 Variable2 February 2009 October 2046 II-28-B 5,693,146.86 Variable2 October 2046 II-29-A 5,017,992.92 Variable2 March 2009 October 2046 II-29-B 5,017,992.92 Variable2 October 2046 II-30-A 4,172,855.12 Variable2 April 2009 October 2046 II-30-B 4,172,855.12 Variable2 October 2046 II-31-B 3,948,211.75 Variable2 October 2046 II-32-A 3,746,151.26 Variable2 June 2009 October 2046 II-32-B 3,746,151.26 Variable2 October 2046 II-33-A 3,566,660.50 Variable2 July 2009 October 2046 II-33-B 3,566,660.50 Variable2 October 2046 II-34-A 4,463,525.98 Variable2 August 2009 October 2046 II-34-B 4,463,525.98 Variable2 October 2046 II-35-A 4,469,422.03 Variable2 September 2009 October 2046 II-35-B 4,469,422.03 Variable2 October 2046 II-36-A 1,715,564.42 Variable2 October 2009 October 2046 II-36-B 1,715,564.42 Variable2 October 2046 II-37-A 3,077,098.69 Variable2 November 2009 October 2046 II-37-B 3,077,098.69 Variable2 October 2046 II-38-A 3,427,637.67 Variable2 December 2009 October 2046 II-38-B 3,427,637.67 Variable2 October 2046 II-39-A 3,269,485.38 Variable2 January 2010 October 2046 II-39-B 3,269,485.38 Variable2 October 2046 II-40-A 3,109,474.72 Variable2 February 2010 October 2046 II-40-B 3,109,474.72 Variable2 October 2046 II-41-A 3,007,926.95 Variable2 March 2010 October 2046 II-41-B 3,007,926.95 Variable2 October 2046 II-42-A 2,743,035.81 Variable2 April 2010 October 2046 II-42-B 2,743,035.81 Variable2 October 2046 II-43-A 2,618,457.77 Variable2 May 2010 October 2046 II-43-B 2,618,457.77 Variable2 October 2046 II-44-A 2,198,253.47 Variable2 June 2010 October 2046 II-44-B 2,198,253.47 Variable2 October 2046 II-45-A 2,090,701.76 Variable2 July 2010 October 2046 II-45-B 2,090,701.76 Variable2 October 2046 II-46-B 2,009,855.24 Variable2 October 2046 II-47-A 2,218,302.34 Variable2 September 2010 October 2046 II-47-B 2,218,302.34 Variable2 October 2046 II-48-A 2,274,858.65 Variable2 October 2010 October 2046 II-48-B 2,274,858.65 Variable2 October 2046 II-49-A 2,158,610.54 Variable2 November 2010 October 2046 II-49-B 2,158,610.54 Variable2 October 2046 II-50-A 2,070,570.29 Variable2 December 2010 October 2046 II-50-B 2,070,570.29 Variable2 October 2046 II-51-A 1,914,752.74 Variable2 January 2011 October 2046 II-51-B 1,914,752.74 Variable2 October 2046 II-52-A 1,773,148.71 Variable2 February 2011 October 2046 II-52-B 1,773,148.71 Variable2 October 2046 II-53-A 1,680,138.89 Variable2 March 2011 October 2046 II-53-B 1,680,138.89 Variable2 October 2046 II-54-A 1,729,077.33 Variable2 April 2011 October 2046 II-54-B 1,729,077.33 Variable2 October 2046 II-55-A 1,803,930.02 Variable2 May 2011 October 2046 II-55-B 1,803,930.02 Variable2 October 2046 II-56-A 1,634,614.07 Variable2 June 2011 October 2046 II-56-B 1,634,614.07 Variable2 October 2046 II-57-A 1,501,880.74 Variable2 July 2011 October 2046 II-57-B 1,501,880.74 Variable2 October 2046 II-58-A 1,344,446.23 Variable2 August 2011 October 2046 II-58-B 1,344,446.23 Variable2 October 2046 II-59-A 19,824,110.23 Variable2 September 2011 October 2046 II-59-B 19,824,110.23 Variable2 October 2046 1 Solely for purposes of Section 1.860G‑1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass‑Through Rate” herein. 3 REMIC 1 Regular Interest IX will be entitled to all prepayment penalties or charges with respect to the Group I Mortgage Loans; REMIC 1 Regular Interest IIX will be entitled to all prepayment penalties or charges with respect to the Group II Mortgage Loans. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “UpperREMIC 2.” The Class R‑2 Interest shall represent the sole class of “residual interests” in REMIC 2 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 2 Pass-Tier REMIC”Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 2 Regular Interests. Each Certificate, other than None of the Class REMIC 2 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 2 Pass-Through Rate Assumed Final Maturity Date1 AA $676,556,260.58 Variable2 October 2046 A-R Certificate and the Class IA 1,830,455.00 Variable2 October 2046 A-RIIA1 1,613,940.00 Variable2 October 2046 A-II CertificateIIA2 624,645.00 Variable2 October 2046 A-IIA3 1,184,640.00 Variable2 October 2046 A-IIA4 365,890.00 Variable2 October 2046 M1 217,465.00 Variable2 October 2046 M2 196,755.00 Variable2 October 2046 M3 124,265.00 Variable2 October 2046 M4 110,460.00 Variable2 October 2046 M5 107,005.00 Variable2 October 2046 M6 96,650.00 Variable2 October 2046 M7 69,035.00 Variable2 October 2046 M8 55,230.00 Variable2 October 2046 M9 51,775.00 Variable2 October 2046 M10 44,875.00 Variable2 October 2046 M11 69,035.00 Variable2 October 2046 ZZ 7,045,150.62 Variable2 October 2046 1GRP 44,970.71 Variable2 October 2046 1SUB 8,361.61 Variable2 October 2046 2GRP 93,102.00 Variable2 October 2046 2SUB 17,319.70 Variable2 October 2046 Swap IO N/A3 Variable2 October 2046 FMR IO N/A4 Variable2 October 2046 XX 690,199,777.19 Variable2 October 2046 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, shall represent ownership of a regular interest the Distribution Date in the Uppermonth following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 2 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 2 Pass-Tier REMIC, as described Through Rate” herein. In addition3 REMIC 2 Regular Interest Swap IO will not have a principal amount but will at all times have a notional amount equal to the aggregate principal amounts of the REMIC 1 Regular Interests with the designation “A”. 4 REMIC 2 Regular Interest FMR IO will not have a principal amount but will at all times have a notional amount equal to the aggregate principal amounts of all of the REMIC 1 Regular Interests. As provided herein, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent Trustee shall make an election to treat the right to receive payments in respect segregated pool of Basis Risk Shortfalls from assets consisting of the Basis Risk Reserve Fund REMIC 2 Regular Interests as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Ba REMIC for federal income tax purposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets shall be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 3.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate R‑3 Interest represents the sole class of “residual interest interests” in REMIC 3 for purposes of the Upper-Tier REMIC and Provisions. The following table sets forth (or describes) the Class Adesignation, Pass-R-II Through Rate and Original Class Certificate Principal Balance for each Class of Certificates that represents one or more of the sole “regular interests” in REMIC 3 and each class of residual interest uncertificated “regular interests” in the LowerREMIC 3: Class Designation Original Class Certificate Principal Balance Pass-Tier REMIC. The LowerThrough Rate Assumed Final Maturity Date1 I‑A $366,091,000.00 Variable2 October 2046 II-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the LowerA1 322,788,000.00 Variable2 October 2046 II-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated LowerA2 124,929,000.00 Variable2 October 2046 II-Tier REMIC Interests, other than the Class LTA3 236,928,000.00 Variable2 October 2046 II-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.A4 73,178,000.00 Variable2 October 2046 M‑1 43,493,000.00 Variable2 October 2046 M‑2 39,351,000.00 Variable2 October 2
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-8)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classesClasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes twenty-two Classes of certificatesCertificates, designated as (i) the Class 1-A-1A A-1, Class A-2, Class A-3, Class A-4 and Class A-5 Certificates, (ii) the Class 1-A-1B M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, (iii) the Class 2-A-1A B-1, Class B-2, Class B-3 and Class B-4 Certificates, (iv) the Class 2-A-1B P Certificates, (v) the Class 2-A-1C CE-1 and Class CE-2 Certificates, (vi) the Class X-1 Certificates, R Certificates and (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II X Certificates. The Depositor hereby assigns to the Trustee, (xii) acting on behalf of the Class P Certificates, (xiii) Certificateholders its interests and rights in the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesMortgage Loans. As provided herein, for federal income tax purposes, the Trustee shall will elect that to treat the Trust Fund segregated pools of assets subject to this Agreement (exclusive of the assets held in Cap Account, the Basis Risk Reserve Fund Fund, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsSwap Account) be treated for federal income tax purposes as comprising two ten real estate mortgage investment conduits (each, a “REMIC”): the Subsidiary REMIC 1, the Subsidiary REMIC 2, the Intermediate REMIC, the Master REMIC, the Class CE REMIC, the ▇▇▇▇▇ ▇ REMIC and the four Class B REMICs. The Subsidiary REMIC 1 will consist of (a) all of the assets constituting the Group 1 Mortgage Loans and all of the assets constituting the Group 2 Mortgage Loans, exclusive of any amounts payable to the Class CE-2 Certificates. The Subsidiary REMIC 1 will issue (1) the REMIC regular interests in Subsidiary REMIC 1 (the “Subsidiary REMIC 1 Regular Interests”) and (2) the SR1 Interest. The Subsidiary REMIC 1 Regular Interests will be uncertificated and will represent the “regular interests” or, in the alternativeSubsidiary REMIC 1 and the SR1 Interest will represent the single class of “residual interest” in the Subsidiary REMIC 1. The Subsidiary REMIC 2 will consist of all amounts distributable in respect of the Class CE-2 Certificates. The Subsidiary REMIC 2 will issue (1) the Class CE-2 Certificates and (2) the SR2 Interest. The Trustee will hold the Subsidiary REMIC 1 Regular Interests for the benefit of the Intermediate REMIC. The assets of the Intermediate REMIC will consist of the Subsidiary REMIC 1 Regular Interests and the interests in the Intermediate REMIC will be evidenced by (i) the Intermediate REMIC Regular Interests, which will be uncertificated and will represent the “Lower-Tier regular interests” in the Intermediate REMIC and (ii) the IR Interest, which will represent the single class of “residual interest” in the Intermediate REMIC” . The Trustee will hold the Intermediate REMIC Regular Interests for the benefit of the Master REMIC. The assets of the Master REMIC will consist of the Intermediate REMIC Regular Interests and the “Upper-Tier REMIC”). Each Certificate, interests in the Master REMIC will be evidenced by (i) the Regular Certificates (other than the Class A-R Certificate CE-1, Class CE-2, Class P and Class B Certificates), the Class CEM Interest, the Class PM Interest and the four Class A-R-II CertificateBM Interests, shall which will represent ownership of a the “regular interest interests” in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 Master REMIC and (ii) the Class 1MR Interest, which will represent the single class of “residual interest” in the Master REMIC. The Trustee will hold the Class CEM Interest in the Master REMIC for the benefit of the Class CE REMIC. Th▇ ▇▇▇▇▇▇ of the Class CE REMIC will ▇▇▇▇▇▇▇ of the Class CEM Interest in the Master REMIC and interests in the Class CE REMIC will ▇▇ ▇▇▇▇enced by (i) the Class CE-1 Certificate, which will represent the “regular interests” in the Class CE REMIC and (▇▇) ▇▇▇ Class CER-A-1AX Interest, which will represent the single class of “residual interest” in the Class CE REMIC. ▇▇▇ ▇▇▇▇tee will hold the Class PM Interest in the Master REMIC for the benefit of the Class P REMIC. The assets of the Class P REMIC will consist of the Class PM Interest in the Master REMIC and interests in the Class P REMIC will be evidenced by (i) the Class P Certificate, which will represent the “regular interests” in the Class P REMIC and (ii) the Class PR-X Interest, which will represent the single class of “residual interest” in the Class P REMIC. The Trustee will hold each Class BM Interest in the Master REMIC for the benefit of a separate Class B REMIC. The assets of each Class B REMIC will consist of a single Class BM Interest in the Master REMIC and interests in each Class B REMIC will be evidenced by (i) a separately numbered Class B Certificate, which will represent the “regular interest” in that Class B REMIC and (ii) a separately numbered, uncertificated Class BR Interest, which will represent the single class of “residual interest” in that Class B REMIC. The Class R Certificates will represent ownership of the Class SR1, Class 1-A-1BSR2, Class 2-A-1A, Class 2-A-1BIR, and Class 2MR Interests, and the Class R-A-1C X Certificates will represent ownership of the right to receive payments residual interest in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners each of the Class X-1 and Class X-2 Certificates beneficially own CE REMIC, the Basis Risk Reserve Fund ▇▇▇▇▇ ▇ REMIC and the Yield Maintenance Accountfour Class B REMICs. The Class P Certificate represents an interest “latest possible maturity date” for federal income tax purposes of all REMICs, and regular and residual interests created hereunder is the 36th month following the month of the scheduled maturity of the Mortgage Loan held in the Trust Fund but does not represent an interest in any REMIC created hereunderas of the Closing Date having the latest maturity date. The Class A-R Certificate represents the sole class Subsidiary REMIC 1 The Subsidiary REMIC 1 Interests, each of residual interest in the Upper-Tier REMIC and which (except for the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC SR1 Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest ) is hereby designated as a REMIC regular interest.interest for federal income tax purposes, will have the principal balances and pass-through rates as set forth in the following table: Subsidiary REMIC 1 Lower Tier Class Designation Initial Principal Balance Subsidiary REMIC 1 Lower Tier Interest Rate Class LT1-Pool (1) (1) Class LT1-F1 $ 8,455,574.51 (2) Class LT1-V1 $ 8,455,574.51 (3) Class LT1-F2 $ 9,745,591.63 (2) Class LT1-V2 $ 9,745,591.63 (3) Class LT1-F3 $ 10,971,141.89 (2) Class LT1-V3 $ 10,971,141.89 (3) Class LT1-F4 $ 12,147,327.14 (2) Class LT1-V4 $ 12,147,327.14 (3) Class LT1-F5 $ 13,246,206.33 (2) Class LT1-V5 $ 13,246,206.33 (3) Class LT1-F6 $ 14,274,602.86 (2) Class LT1-V6 $ 14,274,602.86 (3) Class LT1-F7 $ 15,152,326.46 (2) Class LT1-V7 $ 15,152,326.46 (3) Class LT1-F8 $ 15,511,251.03 (2) Class LT1-V8 $ 15,511,251.03 (3) Class LT1-F9 $ 15,437,985.87 (2) Class LT1-V9 $ 15,437,985.87 (3) Class LT1-F10 $ 15,088,232.42 (2) Class LT1-V10 $ 15,088,232.42 (3) Class LT1-F11 $ 14,534,144.56 (2) Class LT1-V11 $ 14,534,144.56 (3) Class LT1-F12 $ 13,875,556.71 (2) Class LT1-V12 $ 13,875,556.71 (3) Class LT1-F13 $ 13,243,216.32 (2) Class LT1-V13 $ 13,243,216.32 (3) Class LT1-F14 $ 12,650,928.67 (2) Class LT1-V14 $ 12,650,928.67 (3) Class LT1-F15 $ 12,100,883.68 (2) Class LT1-V15 $ 12,100,883.68 (3) Class LT1-F16 $ 11,559,804.60 (2) Class LT1-V16 $ 11,559,804.60 (3) Class LT1-F17 $ 11,062,424.83 (2) Class LT1-V17 $ 11,062,424.83 (3) Class LT1-F18 $ 10,610,513.60 (2) Class LT1-V18 $ 10,610,513.60 (3) Class LT1-F19 $ 19,978,798.39 (2) Class LT1-V19 $ 19,978,798.39 (3) Class LT1-F20 $ 32,131,670.88 (2) Class LT1-V20 $ 32,131,670.88 (3) Class LT1-F21 $ 12,512,363.37 (2) Class LT1-V21 $ 12,512,363.37 (3) Class LT1-F22 $ 24,913,525.07 (2) Class LT1-V22 $ 24,913,525.07 (3) Class LT1-F23 $ 11,224,061.29 (2) Class LT1-V23 $ 11,224,061.29 (3) Class LT1-F24 $ 5,764,043.39 (2) Class LT1-V24 $ 5,764,043.39 (3)
Appears in 1 contract
Sources: Pooling and Servicing Agreement (C-Bass 2006-Cb7 Trust)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates "Certificates"), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen nine classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B X Certificates, (v) the Class 2A-A-1C CertificatesR Certificate, (vi) the Class X-1 B-1 Certificates, (vii) the Class X-2 B-2 Certificates, (viii) the Class PO-1 B-3 Certificates, (ix) the Class PO-2 B-4 Certificates, (x) the Class A-R Certificates, B-5 Certificates and (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held in Put Option, the Basis Risk Reserve Fund Optional Call and the Yield Maintenance Account and the Yield Maintenance Agreementsrights associated therewith) be treated for federal income tax purposes as comprising will consist of two real estate mortgage investment conduits (each, a “REMIC” or, in the alternativeREMICs, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Lower Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Upper Tier REMIC. The Lower-Lower Tier REMIC shall hold as will consist of all of the assets all property of constituting the Trust Fund other than (exclusive of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Put Option and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall Optional Call) and will be evidenced by the Class A-R-II CertificateLower Tier REMIC Regular Interests (which will be uncertificated and will represent the "regular interests" in the Lower Tier REMIC) and the R-1 Interest as the single "residual interest" in the Lower Tier REMIC. Each such Lower-The Trustee will hold the Lower Tier REMIC Regular Interests. On each Distribution Date, following the allocation of Realized Losses and payments of principal, each Lower Tier REMIC Interest is hereby designated as will have a principal balance equal to that of its Master REMIC regular interestCorresponding Class.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052006-5 9 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist of nineteen sixteen classes of certificates, designated as (i) the Class 1-A-1A 1A-1A Certificates, (ii) the Class 1-A-1B 2A-1A Certificates, (iii) the Class 2-A-1A 2A-1B1 Certificates, (iv) the Class 2-A-1B 2A-1B2 Certificates, (v) the Class 2-A-1C 2A-1C1 Certificates, (vi) the Class X-1 2A-1C2 Certificates, (vii) the Class X-2 B-1 Certificates, (viii) the Class PO-1 B-2 Certificates, (ix) the Class PO-2 B-3 Certificates, (x) the Class A-R B-4 Certificates, (xi), ) the Class A-R-II B-5 Certificates, (xii) the Class P B-6 Certificates, (xiii) the Class B-1 B-7 Certificates, (xiv) the Class B-2 C Certificates, (xv) the Class B-3 Certificates, P Certificates and (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and Fund, the Yield Maintenance Account and Trust, the Yield Maintenance AgreementsTrust Account, the Yield Maintenance Account, the Yield Maintenance Agreement, the Class 2A-1C2 Yield Maintenance Account, the Class 2A-1C2 Yield Maintenance Agreement, the Final Maturity Reserve Trust and the Final Maturity Reserve Account (the “Excluded Trust Property”)) be treated for federal income tax purposes as comprising comprises two real estate mortgage investment conduits (each, REMICs in a “REMIC” or, in the alternative, tiered REMIC structure: the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). .” Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 The LIBOR Certificates also represent the right to receive (i) payments in respect of the Final Maturity Reserve Account, (ii) payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (iiiii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.045.01(h). In addition, the Class 2A-1C2 Certificates also represent the right to receive payments in respect of Basis Risk Shortfalls from the Class 2A-1C2 Yield Maintenance Account as provided in Section 5.01(i). The owners of the Class X-1 and Class X-2 C Certificates beneficially own the Basis Risk Reserve Fund Fund, the Final Maturity Reserve Account, the Final Maturity Reserve Trust, the Yield Maintenance Trust, the Yield Maintenance Trust Account, the Yield Maintenance Account and the Class 2A-1C2 Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC. The Lower-Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and will issue interests (the “Lower-Tier Regular Interests”) (which will be uncertificated and will represent the regular interests in the Lower-Tier REMIC) and a residual interest (the “Class ALT-R-II Certificate represents R Interest”) which will also be uncertificated and which will represent the sole class of residual interest in the Lower-Tier REMIC. The Trustee will hold the Lower-Tier REMIC shall hold Regular Interests as assets all property of the Trust Fund Upper-Tier REMIC. For purposes of the REMIC Provisions, the startup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. The following table sets forth (or describes) the designation, interest rate, and initial principal balance of each Lower-Tier Interest in the Lower-Tier REMIC, each of which, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests LT-R Lower-Tier Interest) is hereby designated as a regular interest in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets (the uncertificated “Lower-Tier REMIC Regular Interests, other than the Class ): LT-1A-1A (1 ) $ 416,229,500.00 1A-1A LT-2A-1A (1 ) $ 533,452,500.00 ▇▇-▇▇ ▇▇-▇▇-▇▇▇ (1 ) $ 100,000,000.00 ▇▇-▇▇▇ ▇▇-▇▇-▇▇▇ (1 ) $ 122,271,500.00 2A-1B2 LT-2A-1C1 (1 ) $ 50,000,000.00 2A-1C1 LT-2A-1C2 (1 ) $ 83,363,500.00 2A-1C2 LT-B-1 (1 ) $ 34,578,000.00 ▇-▇ ▇▇-▇-▇ (1 ) $ 27,374,000.00 ▇-▇ ▇▇-▇-▇ (1 ) $ 8,644,500.00 ▇-▇ ▇▇-▇-▇ (1 ) $ 20,891,000.00 ▇-▇ ▇▇-▇-▇ (1 ) $ 15,848,000.00 ▇-▇ ▇▇-▇-▇ (1 ) $ 13,687,000.00 ▇-▇ ▇▇-▇-▇ (1 ) $ 7,202,500.00 B-7 LT-P $ 50.00 P LT-Q (1 ) $ 1,447,952,377.79 N/A LT-I (2 ) (2 ) N/A LT-R Interest, ownership of which shall be evidenced by the Class (3 ) (3 ) N/A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Harborview 2006-9)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderTrust. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1I-A-1A A Certificates, (ii) the Class 1II-A-1B A1 Certificates, (iii) the Class 2II-A-1A A2 Certificates, (iv) the Class 2II-A-1B A3 Certificates, (v) the Class 2II-A-1C A4 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 B-1 Certificates, (xvi) the Class B-4 B-2 Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 Certificates and P Certificates, (xix) the Class B-7 R Certificates, (xx) the Class R-CX Certificates and (xxi) the Class R-PX Certificates. As provided herein, the Trustee shall elect that make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Reserve Fund, the Basis Risk Supplemental Interest Trust, the Final Maturity Reserve Fund Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsServicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets will be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass-Through Rate Assumed Final Maturity Date1 IX $101,138,317.07 Variable2 February 25, 2047 I-1-A $1,976,497.61 Variable2 February 25, 2047 I-1-B $1,976,497.61 Variable2 February 25, 2047 I-2-B $2,342,938.63 Variable2 February 25, 2047 I-3-A $2,695,427.71 Variable2 February 25, 2047 I-3-B $2,695,427.71 Variable2 February 25, 2047 I-4-B $3,021,261.47 Variable2 February 25, 2047 I-5-A $1,274,974.07 Variable2 February 25, 2047 I-5-B $1,274,974.07 Variable2 February 25, 2047 I-6-A $1,646,173.30 Variable2 February 25, 2047 I-6-B $1,646,173.30 Variable2 February 25, 2047 I-7-A $2,138,264.99 Variable2 February 25, 2047 I-7-B $2,138,264.99 Variable2 February 25, 2047 I-8-B $2,594,708.68 Variable2 February 25, 2047 I-9-A $3,152,746.30 Variable2 February 25, 2047 I-9-B $3,152,746.30 Variable2 February 25, 2047 I-10-A $3,781,774.57 Variable2 February 25, 2047 I-10-B $3,781,774.57 Variable2 February 25, 2047 I-11-A $4,512,532.01 Variable2 February 25, 2047 I-11-B $4,512,532.01 Variable2 February 25, 2047 I-12-A $4,832,087.73 Variable2 February 25, 2047 I-12-B $4,832,087.73 Variable2 February 25, 2047 I-13-A $4,608,484.07 Variable2 February 25, 2047 I-13-B $4,608,484.07 Variable2 February 25, 2047 I-14-A $4,304,157.41 Variable2 February 25, 2047 I-14-B $4,304,157.41 Variable2 February 25, 2047 I-15-A $4,039,023.82 Variable2 February 25, 2047 I-15-B $4,039,023.82 Variable2 February 25, 2047 I-16-A $3,810,029.91 Variable2 February 25, 2047 I-16-B $3,810,029.91 Variable2 February 25, 2047 I-17-A $3,623,627.81 Variable2 February 25, 2047 I-17-B $3,623,627.81 Variable2 February 25, 2047 I-18-A $3,449,757.66 Variable2 February 25, 2047 I-18-B $3,449,757.66 Variable2 February 25, 2047 I-19-A $3,737,594.65 Variable2 February 25, 2047 I-19-B $3,737,594.65 Variable2 February 25, 2047 Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass-Through Rate Assumed Final Maturity Date1 I-20-A $4,763,180.83 Variable2 February 25, 2047 I-20-B $4,763,180.83 Variable2 February 25, 2047 I-21-A $3,282,772.80 Variable2 February 25, 2047 I-21-B $3,282,772.80 Variable2 February 25, 2047 I-22-B $31,333,137.22 Variable2 February 25, 2047 I-23-A $5,488,334.59 Variable2 February 25, 2047 I-23-B $5,488,334.59 Variable2 February 25, 2047 I-24-A $4,674,467.52 Variable2 February 25, 2047 I-24-B $4,674,467.52 Variable2 February 25, 2047 I-25-A $3,747,564.73 Variable2 February 25, 2047 I-25-B $3,747,564.73 Variable2 February 25, 2047 I-26-A $3,166,355.18 Variable2 February 25, 2047 I-26-B $3,166,355.18 Variable2 February 25, 2047 I-27-A $2,757,835.36 Variable2 February 25, 2047 I-27-B $2,757,835.36 Variable2 February 25, 2047 I-28-A $2,478,833.82 Variable2 February 25, 2047 I-28-B $2,478,833.82 Variable2 February 25, 2047 I-29-A $2,241,695.51 Variable2 February 25, 2047 I-29-B $2,241,695.51 Variable2 February 25, 2047 I-30-A $2,064,783.39 Variable2 February 25, 2047 I-30-B $2,064,783.39 Variable2 February 25, 2047 I-31-B $1,939,844.60 Variable2 February 25, 2047 I-32-B $1,991,370.40 Variable2 February 25, 2047 I-33-A $2,013,524.92 Variable2 February 25, 2047 I-33-B $2,013,524.92 Variable2 February 25, 2047 I-34-A $2,597,048.52 Variable2 February 25, 2047 I-34-B $2,597,048.52 Variable2 February 25, 2047 I-35-A $401,655.70 Variable2 February 25, 2047 I-35-B $401,655.70 Variable2 February 25, 2047 I-36-A $3,291,212.13 Variable2 February 25, 2047 I-36-B $3,291,212.13 Variable2 February 25, 2047 I-38-A $1,605,057.01 Variable2 February 25, 2047 I-38-B $1,605,057.01 Variable2 February 25, 2047 I-39-A $1,499,167.94 Variable2 February 25, 2047 I-39-B $1,499,167.94 Variable2 February 25, 2047 I-40-A $1,397,876.39 Variable2 February 25, 2047 I-40-B $1,397,876.39 Variable2 February 25, 2047 I-41-A $1,331,702.81 Variable2 February 25, 2047 I-41-B $1,331,702.81 Variable2 February 25, 2047 I-42-A $1,217,669.01 Variable2 February 25, 2047 I-42-B $1,217,669.01 Variable2 February 25, 2047 I-43-A $1,159,369.35 Variable2 February 25, 2047 I-43-B $1,159,369.35 Variable2 February 25, 2047 I-44-A $1,042,510.81 Variable2 February 25, 2047 I-44-B $1,042,510.81 Variable2 February 25, 2047 I-45-A $1,009,992.58 Variable2 February 25, 2047 I-45-B $1,009,992.58 Variable2 February 25, 2047 I-46-B $972,656.61 Variable2 February 25, 2047 I-47-A $931,494.69 Variable2 February 25, 2047 Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass-Through Rate Assumed Final Maturity Date1 I-47-B $931,494.69 Variable2 February 25, 2047 I-48-A $913,664.90 Variable2 February 25, 2047 I-48-B $913,664.90 Variable2 February 25, 2047 I-49-A $867,294.92 Variable2 February 25, 2047 I-49-B $867,294.92 Variable2 February 25, 2047 I-50-A $1,081,745.37 Variable2 February 25, 2047 I-50-B $1,081,745.37 Variable2 February 25, 2047 I-51-A $1,029,153.89 Variable2 February 25, 2047 I-51-B $1,029,153.89 Variable2 February 25, 2047 I-52-A $981,918.10 Variable2 February 25, 2047 I-52-B $981,918.10 Variable2 February 25, 2047 I-53-A $934,053.26 Variable2 February 25, 2047 I-53-B $934,053.26 Variable2 February 25, 2047 I-54-A $891,052.27 Variable2 February 25, 2047 I-54-B $891,052.27 Variable2 February 25, 2047 I-55-A $855,927.52 Variable2 February 25, 2047 I-55-B $855,927.52 Variable2 February 25, 2047 I-56-A $811,087.12 Variable2 February 25, 2047 I-56-B $811,087.12 Variable2 February 25, 2047 I-57-A $773,141.44 Variable2 February 25, 2047 I-57-B $773,141.44 Variable2 February 25, 2047 I-58-A $734,282.66 Variable2 February 25, 2047 I-58-B $734,282.66 Variable2 February 25, 2047 I-59-B $16,300,820.82 Variable2 February 25, 2047 IIX $204,739,449.51 Variable2 February 25, 2047 II-1-A $4,001,120.89 Variable2 February 25, 2047 II-1-B $4,001,120.89 Variable2 February 25, 2047 II-2-A $4,742,925.37 Variable2 February 25, 2047 II-2-B $4,742,925.37 Variable2 February 25, 2047 II-3-A $5,456,486.29 Variable2 February 25, 2047 II-3-B $5,456,486.29 Variable2 February 25, 2047 II-4-A $6,116,087.53 Variable2 February 25, 2047 II-4-B $6,116,087.53 Variable2 February 25, 2047 II-5-A $2,580,992.43 Variable2 February 25, 2047 II-5-B $2,580,992.43 Variable2 February 25, 2047 II-6-A $3,332,429.20 Variable2 February 25, 2047 II-6-B $3,332,429.20 Variable2 February 25, 2047 II-7-A $4,328,594.51 Variable2 February 25, 2047 II-7-B $4,328,594.51 Variable2 February 25, 2047 II-8-A $5,252,595.82 Variable2 February 25, 2047 II-8-B $5,252,595.82 Variable2 February 25, 2047 II-9-A $6,382,258.70 Variable2 February 25, 2047 II-9-B $6,382,258.70 Variable2 February 25, 2047 II-10-A $7,655,631.43 Variable2 February 25, 2047 II-10-B $7,655,631.43 Variable2 February 25, 2047 II-11-A $9,134,939.49 Variable2 February 25, 2047 II-11-B $9,134,939.49 Variable2 February 25, 2047 II-12-A $9,781,831.77 Variable2 February 25, 2047 II-12-B $9,781,831.77 Variable2 February 25, 2047 II-13-A $9,329,179.93 Variable2 February 25, 2047 II-13-B $9,329,179.93 Variable2 February 25, 2047 II-14-A $8,713,116.59 Variable2 February 25, 2047 II-14-B $8,713,116.59 Variable2 February 25, 2047 II-15-A $8,176,393.68 Variable2 February 25, 2047 Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass-Through Rate Assumed Final Maturity Date1 II-15-B $8,176,393.68 Variable2 February 25, 2047 II-16-A $7,712,830.09 Variable2 February 25, 2047 II-16-B $7,712,830.09 Variable2 February 25, 2047 II-17-A $7,335,487.19 Variable2 February 25, 2047 II-17-B $7,335,487.19 Variable2 February 25, 2047 II-18-A $6,983,513.34 Variable2 February 25, 2047 II-18-B $6,983,513.34 Variable2 February 25, 2047 II-19-A $7,566,195.85 Variable2 February 25, 2047 II-19-B $7,566,195.85 Variable2 February 25, 2047 II-20-A $9,642,340.17 Variable2 February 25, 2047 II-20-B $9,642,340.17 Variable2 February 25, 2047 II-21-A $6,645,477.70 Variable2 February 25, 2047 II-21-B $6,645,477.70 Variable2 February 25, 2047 II-22-A $63,429,203.78 Variable2 February 25, 2047 II-22-B $63,429,203.78 Variable2 February 25, 2047 II-23-A $11,110,304.41 Variable2 February 25, 2047 II-23-B $11,110,304.41 Variable2 February 25, 2047 II-24-A $9,462,753.48 Variable2 February 25, 2047 II-24-B $9,462,753.48 Variable2 February 25, 2047 II-25-A $7,586,378.77 Variable2 February 25, 2047 II-25-B $7,586,378.77 Variable2 February 25, 2047 II-26-A $6,409,807.82 Variable2 February 25, 2047 II-26-B $6,409,807.82 Variable2 February 25, 2047 II-27-A $5,582,821.14 Variable2 February 25, 2047 II-27-B $5,582,821.14 Variable2 February 25, 2047 II-28-A $5,018,024.68 Variable2 February 25, 2047 II-28-B $5,018,024.68 Variable2 February 25, 2047 II-29-A $4,537,973.99 Variable2 February 25, 2047 II-29-B $4,537,973.99 Variable2 February 25, 2047 II-30-A $4,179,842.11 Variable2 February 25, 2047 II-30-B $4,179,842.11 Variable2 February 25, 2047 II-31-A $3,926,922.40 Variable2 February 25, 2047 II-31-B $3,926,922.40 Variable2 February 25, 2047 II-32-A $4,031,228.60 Variable2 February 25, 2047 II-32-B $4,031,228.60 Variable2 February 25, 2047 II-33-A $4,076,077.08 Variable2 February 25, 2047 II-33-B $4,076,077.08 Variable2 February 25, 2047 II-34-A $5,257,332.48 Variable2 February 25, 2047 II-34-B $5,257,332.48 Variable2 February 25, 2047 II-35-A $813,091.30 Variable2 February 25, 2047 II-35-B $813,091.30 Variable2 February 25, 2047 II-36-A $6,662,561.87 Variable2 February 25, 2047 II-36-B $6,662,561.87 Variable2 February 25, 2047 II-37-A $3,526,983.24 Variable2 February 25, 2047 II-37-B $3,526,983.24 Variable2 February 25, 2047 II-38-A $3,249,195.49 Variable2 February 25, 2047 II-38-B $3,249,195.49 Variable2 February 25, 2047 II-39-A $3,034,839.06 Variable2 February 25, 2047 II-39-B $3,034,839.06 Variable2 February 25, 2047 II-40-A $2,829,789.61 Variable2 February 25, 2047 II-40-B $2,829,789.61 Variable2 February 25, 2047 II-41-A $2,695,831.19 Variable2 February 25, 2047 II-41-B $2,695,831.19 Variable2 February 25, 2047 II-42-A $2,464,986.99 Variable2 February 25, 2047 II-42-B $2,464,986.99 Variable2 February 25, 2047 Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass-Through Rate Assumed Final Maturity Date1 II-43-A $2,346,968.15 Variable2 February 25, 2047 II-43-B $2,346,968.15 Variable2 February 25, 2047 II-44-A $2,110,405.69 Variable2 February 25, 2047 II-44-B $2,110,405.69 Variable2 February 25, 2047 II-45-A $2,044,577.42 Variable2 February 25, 2047 II-45-B $2,044,577.42 Variable2 February 25, 2047 II-46-A $1,968,996.39 Variable2 February 25, 2047 II-46-B $1,968,996.39 Variable2 February 25, 2047 II-47-A $1,885,670.31 Variable2 February 25, 2047 II-47-B $1,885,670.31 Variable2 February 25, 2047 II-48-A $1,849,576.60 Variable2 February 25, 2047 II-48-B $1,849,576.60 Variable2 February 25, 2047 II-49-A $1,755,707.58 Variable2 February 25, 2047 II-49-B $1,755,707.58 Variable2 February 25, 2047 II-50-A $2,189,830.13 Variable2 February 25, 2047 II-50-B $2,189,830.13 Variable2 February 25, 2047 II-51-A $2,083,366.61 Variable2 February 25, 2047 II-51-B $2,083,366.61 Variable2 February 25, 2047 II-52-A $1,987,744.90 Variable2 February 25, 2047 II-52-B $1,987,744.90 Variable2 February 25, 2047 II-53-A $1,890,849.74 Variable2 February 25, 2047 II-53-B $1,890,849.74 Variable2 February 25, 2047 II-54-A $1,803,800.73 Variable2 February 25, 2047 II-54-B $1,803,800.73 Variable2 February 25, 2047 II-55-A $1,732,695.98 Variable2 February 25, 2047 II-55-B $1,732,695.98 Variable2 February 25, 2047 II-56-A $1,641,923.38 Variable2 February 25, 2047 II-56-B $1,641,923.38 Variable2 February 25, 2047 II-57-A $1,565,108.06 Variable2 February 25, 2047 II-57-B $1,565,108.06 Variable2 February 25, 2047 II-58-A $1,486,444.34 Variable2 February 25, 2047 II-58-B $1,486,444.34 Variable2 February 25, 2047 II-59-A $32,998,549.68 Variable2 February 25, 2047 II-59-B $32,998,549.68 Variable2 February 25, 2047 P 100.00 Variable2 February 25, 2047 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Uppermonth following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass-Tier Through Rate” herein. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 2.” The Class A-R-II Certificate represents R-2 Interest shall represent the sole class of “residual interest interests” in REMIC 2 for purposes of the Lower-Tier REMICREMIC Provisions (as defined herein) under federal income tax law. The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 2 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 2 Regular Interests. None of the assets held in the Basis Risk Reserve FundREMIC 2 Regular Interests will be certificated. Uncertificated REMIC 2 Initial Uncertificated Pass-Through Assumed Final Designation Principal Balance Rate Maturity Date1 AA $682,959,134.27 Variable2 February 25, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class 2047 A-RIA $1,841,130.00 Variable2 February 25, 2047 A-II Certificate. Each such LowerIIA1 $1,721,280.00 Variable2 February 25, 2047 A-Tier Interest is hereby designated as a REMIC regular interest.IIA2 $527,430.00 Variable2 February 25, 2047 A-IIA3 $1,105,245.00 Variable2 February 25, 2047 A-IIA4 $373,125.00 Variable2 February 25, 2047 M1 $236,795.00 Variable2 February 25, 2047 M2 $209,065.00 Variable2 February 25, 2047 M3 $132,565.00 Variable2 February 25, 2047 M4 $114,990.00 Variable2 February 25, 2047 M5 $108,020.00 Variable2 February 25, 2047 M6 $104,535.00 Variable2 February 25, 2047 M7 $94,080.00 Variable2 February 25, 2047 M8 $45,300.00 Variable2 February 25, 2047 M9 $76,660.00 Variable2 February 25, 2047 B1 $41,815.00 Variable2 February 25, 2047 B2 $69,690.00 Variable2 February 25, 2047 ZZ $7,136,216.52 Variable2 February 25, 2047 1GRP $9,263.16 Variable2 February 25, 2047 1SUB $46,085.76 Variable2 February 25, 2047 2GRP $18,752.06 Variable2 February 25, 2047 2SUB $93,293.66 Variable2 February 2
Appears in 1 contract
Sources: Pooling and Servicing Agreement
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 14 Mortgage Loan Pass-Through Certificates, Series 2005-5 14 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 23-A-1C A-1A Certificates, (vi) the Class X-1 3-A-1B Certificates, (vii) the Class X-2 4-A-1A Certificates, (viii) the Class PO-1 4-A-1B Certificates, (ix) the Class PO-2 5-A-1A Certificates, (x) the Class A5-R A-1B Certificates, (xi), ) the Class A-R-II CertificatesX, (xii) the Class P A-R Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and Certificates, (xix) the Class B-7 CertificatesA-R-II Certificates and (xx) the Class P Certificate. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC,” and the “Upper-Tier REMIC”). Each Certificate, other than the Class P, Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC, and the Class A-R Certificates represent ownership of the sole class of residual interest in each of the Middle-Tier REMIC and the Upper-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier any REMIC formed hereby. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier REMIC Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest. The following table specifies the Class designation, interest rate, and initial Class Principal Amount for each Class of Lower-Tier REMIC Interest: LT-Group 1 (1) (7) Group 1 LT-SC1 (1) (6) Group 1 LT-Group 2 (2) (7) Group 2 LT-SC2 (2) (6) Group 2 LT-Group 3 (3) (7) Group 3 LT-SC3 (3) (6) Group 3 LT-Group 4 (4) (7) Group 4 LT-SC4 (4) (6) Group 4 LT-Group 5 (5) (7) Group 5 LT-SC5 (5) (6) Group 5 LT-R (8) (8) N/A __________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Harbor View Mortgage Loan Trust 2005-14)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 11 Mortgage Loan Pass-Through Certificates, Series 2005-5 11 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-four classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A2 Certificates, (iii) the Class 2-A-1A A-1 Certificates, (iv) the Class 2-A-1B A2A Certificates, (v) the Class 2-A-1C A2B Certificates, (vi) the Class X-1 1-X Certificates, (vii) the Class X-2 X Certificates, (viii) the Class PO-1 PO Certificates, (ix) the Class PO-2 2-PO Certificates, (x) the Class A-R Certificates, (xi)) the Class B-1 Certificates, (xii) the Class B-2 Certificates, (xiii) the Class B-3 Certificates, (xiv) the Class B-4 Certificates, (xv) the Class B-5 Certificates, (xvi) the Class B-6 Certificates, (xvii) the Class 2-B1 Certificates, (xviii) the Class 2-B2 Certificates, (xix) the Class 2-B3 Certificates, (xx) the Class 2-B4 Certificates, (xxi) the Class 2-B5 Certificates, (xxii) the Class 2-B6 Certificates, (xxiii) the Class A-R-II Certificates, Certificates and (xiixxiv) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund Fund, and the Yield Maintenance Account and the Yield Maintenance AgreementsAgreements (collectively, the “Excluded Trust Property”) be treated for federal income tax purposes as comprising two three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 X Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC, and the Class A-R Certificates represent ownership of the sole class of residual interest in the Middle-Tier and the Upper-Tier REMICs. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund Fund, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Excluded Trust Property and the interests in the Lower-Tier REMIC and the Middle-Tier REMIC formed hereby. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest. The following table specifies the Class designation, interest rate, and initial principal amount for each Lower-Tier REMIC Interest: Designation Interest Rate Initial Principal Balance Related group LT-Group 1 (1) $ 222,415,510.10 Group 1 LT-Group 1 SCA (1) $ 238,235.96 Group 1 LT-Group 2 (2) $ 463,586,139.55 Group 2 LT-Group 2 SCA (2) $ 496,566.56 Group 2 LT-R (3) (3) N/A
Appears in 1 contract
Sources: Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2005-11)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor The Company intends to cause the issuance and sale of the HarborView sell Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trustcollectively, the primary assets of which are the Mortgage Loans (as defined below"Certificates"). The Depositor intends to sell the Certificates , to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesFund. As provided herein, the Trustee shall elect that REMIC Administrator will make an election to treat the Trust Fund (exclusive entire segregated pool of the assets held described in the Basis Risk Reserve Fund definition of REMIC I (as defined herein), and subject to this Agreement (including the Yield Maintenance Account and Mortgage Loans but excluding the Yield Maintenance AgreementsInitial Monthly Payment Fund), as a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes and such segregated pool of assets will be designated as comprising two real estate mortgage investment conduits (each, a “REMIC” or, "REMIC I." The Uncertificated REMIC I Regular Interests will be "regular interests" in the alternative, the “Lower-Tier REMIC” REMIC I and the “UpperClass R-Tier REMIC”I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein). Each CertificateA segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, other than the Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-7A Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-14 Certificates, Class A-15 Certificates, Class A-16 Certificates, Class A-17 Certificates, Class A-18 Certificates, Class A-19 Certificates, Class A-20 Certificates, Class A-21 Certificates, Class A-22 Certificates, Class A-23 Certificates, Class A-24 Certificates, Class A-25 Certificates, Class A-26 Certificates, Class A-27 Certificates, Class A-28, Class A-R Certificate P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class A-R-II Certificate, shall represent ownership Certificates will be the sole class of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners "residual interests" therein for purposes of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunderProvisions. The Class A-R Certificate represents V Certificates will represent the sole class of residual entire beneficial ownership interest in the Upper-Tier REMIC and the Uncertificated Class A-R-II Certificate represents V REMIC Regular Interests. The terms and provisions of the sole class of residual interest Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the LowerStandard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-Tier REMICreference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross- reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Lower-Tier REMIC Pooling and Servicing Agreement shall hold be dated as assets all property of the Trust Fund other than date of the assets held in Series Supplement. The following table irrevocably sets forth the Basis Risk Reserve Funddesignation, the Yield Maintenance AccountUncertificated REMIC I Pass- Through Rate, the Yield Maintenance Agreementsinitial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the interests in "latest possible maturity date" for each of the LowerUncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. Uncertificated REMIC I Pass-Tier Through Initial Uncertificated Latest DESIGNATION U Rate Principal Balance Possible Maturity(1) REMIC formed hereby. The Upper Tier I Regular Interest O 8.00% $60,000,000.00 May 25, 2033 REMIC shall hold as assets the uncertificated Lower-Tier I Regular Interest P 8.00% $11,200,000.00 May 25, 2033 REMIC InterestsI Regular Interest Q 8.00% $60,000,000.00 May 25, other than the Class LT-2033 REMIC I Regular Interest R Interest8.00% $84,000,000.00 May 25, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier 2033 REMIC I Regular Interest is hereby designated as a S 5.50% $344,347,343.78 May 25, 2033 REMIC regular interest.I Regular Interest T 5.25% $40,000,000.00 May 25, 2033 REMIC I Regular Interest U 5.00% $40,000,000.00 May 25, 2033 REMIC I Regular Interest V 4.75% $40,000,000.00 May 25, 2033 REMIC I Regular Interest W 4.50% $68,000,000.00 May 25, 2033 REMIC I Regular Interest X 4.25% $40,000,000.00 May 25, 2033 REMIC I Regular Interest Y 4.00% $240,000,000.00 May 25, 2033 REMIC I Regular Interest Z 0.00% $2,869,793.25 May 25, 2033 REMIC I IO Regular Interests (2) (3) May 25, 2033 -------------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Provident Funding Mortgage Loan Trust 2005-5 1, Provident Funding Mortgage Loan Pass-Through Certificates, Series 2005-5 1 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen thirteen classes of certificates, designated as (i) the Class 1-A-1A 1A-1 Certificates, (ii) the Class 1-A-1B 2A-1 Certificates, (iii) the Class 2-A-1A 3A-1 Certificates, (iv) the Class 2-A-1B 3A-2 Certificates, (v) the Class 2-A-1C CertificatesX Certificate, (vi) the Class X-1 CertificatesA-R Certificate, (vii) the Class X-2 B-1 Certificates, (viii) the Class PO-1 B-2 Certificates, (ix) the Class PO-2 B-3 Certificates, (x) the Class A-R B-4 Certificates, (xi), ) the Class A-R-II B-5 Certificates, (xii) the Class P Certificates, B-6 Certificates and (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesY Certificate. As provided herein, the Trustee Securities Administrator shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and Fund, the Yield Maintenance Account and the Yield Maintenance AgreementsAgreement) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, each a “REMIC” or, in the alternative, the “Lower-Lower Tier REMIC” and the “Upper-Upper Tier REMIC”). Each Certificate, other than the Class A-R and Class Y Certificate and the Class A-R-II Certificate, shall represent represents ownership of a regular interest in the Upper-Upper Tier REMIC, as described hereinREMIC for purposes of the REMIC Provisions. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 3A-1 and Class B-7 3A-2 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04Shortfalls. The owners Class X Certificates, in addition to representing beneficial ownership of the Class X-1 and Class X-2 Certificates beneficially own REMIC regular interests, also represent beneficial ownership of the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents ownership of the sole class of residual interest in each of the Upper-Lower Tier REMIC and the Class A-R-II Certificate represents Upper Tier REMIC for purposes of the sole class of residual interest in the Lower-Tier REMICREMIC Provisions. The Lower-Tier REMIC shall hold as assets all property Class Y Certificates, which will not have a Class Principal Balance and will not accrue interest, will only be entitled to received on any Distribution Date the excess, if any, of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, amounts paid with respect to the Yield Maintenance Account, Agreement in excess of the Yield Maintenance Agreements, and Distributable Amount for the interests Yield Maintenance Agreement. The Class Y Certificates will not represent an interest in the Lower-Tier REMIC formed herebyany REMIC. The Upper Tier REMIC shall hold as its assets the several classes of uncertificated Lower-Lower Tier REMIC InterestsInterests in the Lower Tier REMIC, other than the Class LT-A-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each and each such Lower-Lower Tier Interest is hereby designated as a regular interest in the Lower Tier REMIC for purposes of the REMIC Provisions. The Lower Tier REMIC shall hold as its assets the property of the Trust Fund. For purposes of the REMIC Provisions, the startup day is the Closing Date. All REMIC regular interest.and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. The following table sets forth (or describes) the Class designation, Pass-Through Rate and original class principal balance for each Class of interests in the Lower Tier REMIC (each of which, except for the LT-A-R Interest, is hereby designated a REMIC regular interest for purposes of the REMIC Provisions), each such Class a “Lower Tier Interest” comprising the interests in the Trust Fund created hereunder: LT-1A1 (1) (4) 1A-1, A-R LT-2A1 (1) (4) 2A-1 LT-3A1 (1) (4) 3A-1, X LT-3A2 (1) (4) 3A-2, X LT-B1 (1) (4) B-1 LT-B2 (1) (4) B-2 LT-B3 (1) (4) B-3 LT-B4 (1) (4) B-4 LT-B5 (1) (4) B-5 LT-B6 (1) (4) B-6 LT-Group 1 (3) (5) Group 1 LT-SC1 (2) (5) Group 1 LT-Group 2 (3) (6) Group 2 LT-SC2 (2) (6) Group 2 LT-Group 3 (3) (7) Group 3 LT-SC3 (2) (7) Group 3 LT-A-R (8) (8) N/A
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Provident Funding Mortgage Loan Trust 2005-1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates "Certificates"), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen ten classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A S-1 Certificates, (iv) the Class 2-A-1B S-2 Certificates, (v) the Class 2-A-1C M-1 Certificates, (vi) the Class X-1 M-2 Certificates, (vii) the Class X-2 M-3 Certificates, (viii) the Class PO-1 P Certificates, (ix) the Class PO-2 Certificates, C Certificates and (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. REMIC 1A As provided herein, the Trustee shall elect that will make an election to treat the Trust Fund segregated pool of assets consisting of the Group I Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance AgreementsMaster Servicer Prepayment Charge Payment Amounts) be treated as a real estate mortgage investment conduit (a "REMIC") for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. "REMIC 1A." The Class P Certificate represents an interest in the Trust Fund but does not R-1A Interest will represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of "residual interest interests" in REMIC 1A for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein) under federal income tax law. The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1A Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Trust Fund other than REMIC 1A Regular Interests. None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the LowerREMIC 1A Regular Interests will be certificated. Uncertificated REMIC 1A Initial Uncertificated Assumed Final Designation Pass-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated LowerThrough Rate Principal Balance Maturity Date(1) ----------- ----------------------- ---------------------- ---------------- LT1A-1 Variable(2) $615,010,107.00 September 2031 LT1A-2 Variable(2) $68,334,000.00 September 2031 LT1A-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.P Variable(2) $100.00 September 2031 -------------------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Long Beach Mortgage Loan Tr 2001-3 as-BCKD Cert Ser 2001-3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderTrust. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1I-A-1A A Certificates, (ii) the Class 1II-A-1B A1 Certificates, (iii) the Class 2II-A-1A A2 Certificates, (iv) the Class 2II-A-1B A3 Certificates, (v) the Class 2II-A-1C A4 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 C Certificates, (xvi) the Class B-4 P Certificates, (xvii) the Class B-5 R Certificates, (xviii) the Class B-6 R-CX Certificates and (xix) the Class B-7 R-PX Certificates. As provided herein, the Trustee shall elect that make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Reserve Fund, the Basis Risk Supplemental Interest Trust, the Final Maturity Reserve Fund and Trust, the Yield Maintenance Interest Coverage Account and the Yield Maintenance AgreementsServicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets will be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass-Through Rate Assumed Final Maturity Date1 IX $129,509,320.86 Variable2 May 25, 2047 I-1-A $ 1,955,190.52 Variable2 May 25, 2047 I-1-B $ 1,955,190.52 ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-2-B $ 2,478,702.37 ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-3-B $ 2,936,857.68 ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-4-B $ 3,383,948.09 ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-5-B $ 1,086,748.06 ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ ▇-▇-▇ $ 1,533,744.66 Variable2 May 25, 2047 I-6-B $ 1,533,744.66 ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ ▇-▇-▇ $ 1,933,650.21 Variable2 May 25, 2047 I-7-B $ 1,933,650.21 ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ ▇-▇-▇ $ 2,365,426.69 Variable2 May 25, 2047 I-8-B $ 2,365,426.69 ▇▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-9-B $ 3,103,020.97 Variable2 May 25, 2047 I-10-B $ 4,330,930.90 Variable2 May 25, 2047 I-11-A $ 5,518,260.80 Variable2 May 25, 2047 I-11-B $ 5,518,260.80 Variable2 May 25, 2047 I-12-A $ 5,812,419.67 Variable2 May 25, 2047 I-12-B $ 5,812,419.67 Variable2 May 25, 2047 I-13-A $ 5,579,166.42 Variable2 May 25, 2047 I-13-B $ 5,579,166.42 Variable2 May 25, 2047 I-14-A $ 5,259,276.62 Variable2 May 25, 2047 I-14-B $ 5,259,276.62 Variable2 May 25, 2047 I-15-A $ 4,946,674.17 Variable2 May 25, 2047 I-15-B $ 4,946,674.17 Variable2 May 25, 2047 I-16-A $ 4,677,720.88 Variable2 May 25, 2047 I-16-B $ 4,677,720.88 Variable2 May 25, 2047 I-17-A $ 4,478,668.50 Variable2 May 25, 2047 I-17-B $ 4,478,668.50 Variable2 May 25, 2047 I-18-A $ 4,273,483.34 Variable2 May 25, 2047 I-18-B $ 4,273,483.34 Variable2 May 25, 2047 I-19-A $ 4,049,969.15 Variable2 May 25, 2047 I-19-B $ 4,049,969.15 Variable2 May 25, 2047 I-20-A $ 3,835,204.58 Variable2 May 25, 2047 I-20-B $ 3,835,204.58 Variable2 May 25, 2047 I-21-A $ 4,830,929.47 Variable2 May 25, 2047 I-21-B $ 4,830,929.47 Variable2 May 25, 2047 I-22-B $ 59,187,491.39 Variable2 May 25, 2047 I-23-A $ 6,003,384.40 Variable2 May 25, 2047 I-23-B $ 6,003,384.40 Variable2 May 25, 2047 I-24-A $ 5,129,553.91 Variable2 May 25, 2047 I-24-B $ 5,129,553.91 Variable2 May 25, 2047 I-25-A $ 4,219,558.16 Variable2 May 25, 2047 I-25-B $ 4,219,558.16 Variable2 May 25, 2047 I-26-A $ 3,618,746.37 Variable2 May 25, 2047 I-26-B $ 3,618,746.37 Variable2 May 25, 2047 I-27-A $ 3,195,050.89 Variable2 May 25, 2047 I-27-B $ 3,195,050.89 Variable2 May 25, 2047 I-28-A $ 2,877,192.27 Variable2 May 25, 2047 I-28-B $ 2,877,192.27 Variable2 May 25, 2047 I-29-A $ 2,606,574.65 Variable2 May 25, 2047 I-29-B $ 2,606,574.65 Variable2 May 25, 2047 I-30-A $ 2,445,444.33 Variable2 May 25, 2047 I-30-B $ 2,445,444.33 Variable2 May 25, 2047 I-31-A $ 2,316,424.69 Variable2 May 25, 2047 I-31-B $ 2,316,424.69 Variable2 May 25, 2047 I-32-A $ 2,217,421.38 Variable2 May 25, 2047 I-32-B $ 2,217,421.38 Variable2 May 25, 2047 I-33-A $ 2,593,673.98 Variable2 May 25, 2047 I-33-B $ 2,593,673.98 Variable2 May 25, 2047 I-34-A $ 3,138,512.27 Variable2 May 25, 2047 I-34-B $ 3,138,512.27 Variable2 May 25, 2047 I-35-A $ 424,034.75 Variable2 May 25, 2047 I-35-B $ 424,034.75 Variable2 May 25, 2047 I-36-A $ 4,372,967.67 Variable2 May 25, 2047 I-36-B $ 4,372,967.67 Variable2 May 25, 2047 I-37-A $ 2,121,274.28 Variable2 May 25, 2047 I-37-B $ 2,121,274.28 Variable2 May 25, 2047 I-38-A $ 1,961,580.35 Variable2 May 25, 2047 I-38-B $ 1,961,580.35 Variable2 May 25, 2047 I-39-A $ 1,817,984.10 Variable2 May 25, 2047 I-39-B $ 1,817,984.10 Variable2 May 25, 2047 I-40-A $ 1,697,199.39 Variable2 May 25, 2047 I-40-B $ 1,697,199.39 Variable2 May 25, 2047 I-41-A $ 1,593,754.09 Variable2 May 25, 2047 I-41-B $ 1,593,754.09 Variable2 May 25, 2047 I-42-A $ 1,490,041.84 Variable2 May 25, 2047 I-42-B $ 1,490,041.84 Variable2 May 25, 2047 I-43-A $ 1,396,433.02 Variable2 May 25, 2047 I-43-B $ 1,396,433.02 Variable2 May 25, 2047 I-44-A $ 1,291,816.38 Variable2 May 25, 2047 I-44-B $ 1,291,816.38 Variable2 May 25, 2047 I-45-A $ 1,257,902.84 Variable2 May 25, 2047 I-45-B $ 1,257,902.84 Variable2 May 25, 2047 I-46-B $ 1,224,724.15 Variable2 May 25, 2047 I-47-A $ 1,183,164.01 Variable2 May 25, 2047 I-47-B $ 1,183,164.01 Variable2 May 25, 2047 I-48-A $ 1,154,768.08 Variable2 May 25, 2047 I-48-B $ 1,154,768.08 Variable2 May 25, 2047 I-49-A $ 1,121,669.11 Variable2 May 25, 2047 I-49-B $ 1,121,669.11 Variable2 May 25, 2047 I-50-A $ 1,099,979.62 Variable2 May 25, 2047 I-50-B $ 1,099,979.62 Variable2 May 25, 2047 I-51-A $ 1,072,576.92 Variable2 May 25, 2047 I-51-B $ 1,072,576.92 Variable2 May 25, 2047 I-52-A $ 1,045,428.43 Variable2 May 25, 2047 I-52-B $ 1,045,428.43 Variable2 May 25, 2047 I-53-A $ 1,018,205.92 Variable2 May 25, 2047 I-53-B $ 1,018,205.92 Variable2 May 25, 2047 I-54-A $ 991,121.37 Variable2 May 25, 2047 I-54-B $ 991,121.37 Variable2 May 25, 2047 I-55-A $ 964,810.47 Variable2 May 25, 2047 I-55-B $ 964,810.47 Variable2 May 25, 2047 I-56-A $ 928,957.07 Variable2 May 25, 2047 I-56-B $ 928,957.07 Variable2 May 25, 2047 I-57-A $ 891,368.93 Variable2 May 25, 2047 I-57-B $ 891,368.93 Variable2 May 25, 2047 I-58-A $ 852,206.84 Variable2 May 25, 2047 I-58-B $ 852,206.84 Variable2 May 25, 2047 I-59-A $ 27,587,521.32 Variable2 May 25, 2047 I-59-B $ 27,587,521.32 Variable2 May 25, 2047 IIX $210,811,616.18 Variable2 May 25, 2047 II-1-A $ 3,182,601.48 Variable2 May 25, 2047 II-1-B $ 3,182,601.48 Variable2 May 25, 2047 II-2-A $ 4,034,758.63 Variable2 May 25, 2047 II-2-B $ 4,034,758.63 Variable2 May 25, 2047 II-3-A $ 4,780,530.32 Variable2 May 25, 2047 II-3-B $ 4,780,530.32 Variable2 May 25, 2047 II-4-A $ 5,508,290.91 Variable2 May 25, 2047 II-4-B $ 5,508,290.91 Variable2 May 25, 2047 II-5-A $ 1,768,976.44 Variable2 May 25, 2047 II-5-B $ 1,768,976.44 Variable2 May 25, 2047 II-6-A $ 2,496,584.34 Variable2 May 25, 2047 II-6-B $ 2,496,584.34 Variable2 May 25, 2047 II-7-A $ 3,147,538.79 Variable2 May 25, 2047 II-7-B $ 3,147,538.79 Variable2 May 25, 2047 II-8-A $ 3,850,371.81 Variable2 May 25, 2047 II-8-B $ 3,850,371.81 Variable2 May 25, 2047 II-9-A $ 5,051,006.03 Variable2 May 25, 2047 II-9-B $ 5,051,006.03 Variable2 May 25, 2047 II-10-A $ 7,049,761.60 Variable2 May 25, 2047 II-10-B $ 7,049,761.60 Variable2 May 25, 2047 II-11-A $ 8,982,462.20 Variable2 May 25, 2047 II-11-B $ 8,982,462.20 Variable2 May 25, 2047 II-12-A $ 9,461,285.33 Variable2 May 25, 2047 II-12-B $ 9,461,285.33 Variable2 May 25, 2047 II-13-A $ 9,081,602.58 Variable2 May 25, 2047 II-13-B $ 9,081,602.58 Variable2 May 25, 2047 II-14-A $ 8,560,895.38 Variable2 May 25, 2047 II-14-B $ 8,560,895.38 Variable2 May 25, 2047 II-15-A $ 8,052,050.33 Variable2 May 25, 2047 II-15-B $ 8,052,050.33 Variable2 May 25, 2047 II-16-A $ 7,614,256.12 Variable2 May 25, 2047 II-16-B $ 7,614,256.12 Variable2 May 25, 2047 II-17-A $ 7,290,244.50 Variable2 May 25, 2047 II-17-B $ 7,290,244.50 Variable2 May 25, 2047 II-18-A $ 6,956,250.16 Variable2 May 25, 2047 II-18-B $ 6,956,250.16 Variable2 May 25, 2047 II-19-A $ 6,592,420.35 Variable2 May 25, 2047 II-19-B $ 6,592,420.35 Variable2 May 25, 2047 II-20-A $ 6,242,832.92 Variable2 May 25, 2047 II-20-B $ 6,242,832.92 Variable2 May 25, 2047 II-21-A $ 7,863,644.53 Variable2 May 25, 2047 II-21-B $ 7,863,644.53 Variable2 May 25, 2047 II-22-A $ 6,343,653.11 Variable2 May 25, 2047 II-22-B $ 96,343,653.11 Variable2 May 25, 2047 II-23-A $ 9,772,132.10 Variable2 May 25, 2047 II-23-B $ 9,772,132.10 Variable2 May 25, 2047 II-24-A $ 8,349,736.59 Variable2 May 25, 2047 II-24-B $ 8,349,736.59 Variable2 May 25, 2047 II-25-A $ 6,868,472.34 Variable2 May 25, 2047 II-25-B $ 6,868,472.34 Variable2 May 25, 2047 II-26-A $ 5,890,488.63 Variable2 May 25, 2047 II-26-B $ 5,890,488.63 Variable2 May 25, 2047 II-27-A $ 5,200,809.61 Variable2 May 25, 2047 II-27-B $ 5,200,809.61 Variable2 May 25, 2047 II-28-A $ 4,683,408.73 Variable2 May 25, 2047 II-28-B $ 4,683,408.73 Variable2 May 25, 2047 II-29-A $ 4,242,905.35 Variable2 May 25, 2047 II-29-B $ 4,242,905.35 Variable2 May 25, 2047 II-30-A $ 3,980,622.17 Variable2 May 25, 2047 II-30-B $ 3,980,622.17 Variable2 May 25, 2047 II-31-A $ 3,770,607.81 Variable2 May 25, 2047 II-31-B $ 3,770,607.81 Variable2 May 25, 2047 II-32-A $ 3,609,453.12 Variable2 May 25, 2047 II-32-B $ 3,609,453.12 Variable2 May 25, 2047 II-33-A $ 4,221,906.02 Variable2 May 25, 2047 II-33-B $ 4,221,906.02 Variable2 May 25, 2047 II-34-A $ 5,108,777.73 Variable2 May 25, 2047 II-34-B $ 5,108,777.73 Variable2 May 25, 2047 II-35-A $ 690,231.25 Variable2 May 25, 2047 II-35-B $ 690,231.25 Variable2 May 25, 2047 II-36-A $ 7,118,187.83 Variable2 May 25, 2047 II-36-B $ 7,118,187.83 Variable2 May 25, 2047 II-37-A $ 3,452,947.72 Variable2 May 25, 2047 II-37-B $ 3,452,947.72 Variable2 May 25, 2047 II-38-A $ 3,193,002.65 Variable2 May 25, 2047 II-38-B $ 3,193,002.65 Variable2 May 25, 2047 II-39-A $ 2,959,260.90 Variable2 May 25, 2047 II-39-B $ 2,959,260.90 Variable2 May 25, 2047 II-40-A $ 2,762,651.11 Variable2 May 25, 2047 II-40-B $ 2,762,651.11 Variable2 May 25, 2047 II-41-A $ 2,594,265.91 Variable2 May 25, 2047 II-41-B $ 2,594,265.91 Variable2 May 25, 2047 II-42-A $ 2,425,446.16 Variable2 May 25, 2047 II-42-B $ 2,425,446.16 Variable2 May 25, 2047 II-43-A $ 2,273,072.48 Variable2 May 25, 2047 II-43-B $ 2,273,072.48 Variable2 May 25, 2047 II-44-A $ 2,102,780.62 Variable2 May 25, 2047 II-44-B $ 2,102,780.62 Variable2 May 25, 2047 II-45-A $ 2,047,577.16 Variable2 May 25, 2047 II-45-B $ 2,047,577.16 Variable2 May 25, 2047 II-46-A $ 1,993,569.85 Variable2 May 25, 2047 II-46-B $ 1,993,569.85 Variable2 May 25, 2047 II-47-A $ 1,925,919.49 Variable2 May 25, 2047 II-47-B $ 1,925,919.49 Variable2 May 25, 2047 II-48-A $ 1,879,697.42 Variable2 May 25, 2047 II-48-B $ 1,879,697.42 Variable2 May 25, 2047 II-49-A $ 1,825,819.89 Variable2 May 25, 2047 II-49-B $ 1,825,819.89 Variable2 May 25, 2047 II-50-A $ 1,790,514.38 Variable2 May 25, 2047 II-50-B $ 1,790,514.38 Variable2 May 25, 2047 II-51-A $ 1,745,909.08 Variable2 May 25, 2047 II-51-B $ 1,745,909.08 Variable2 May 25, 2047 II-52-A $ 1,701,717.57 Variable2 May 25, 2047 II-52-B $ 1,701,717.57 Variable2 May 25, 2047 II-53-A $ 1,657,405.58 Variable2 May 25, 2047 II-53-B $ 1,657,405.58 Variable2 May 25, 2047 II-54-A $ 1,613,318.13 Variable2 May 25, 2047 II-54-B $ 1,613,318.13 Variable2 May 25, 2047 II-55-A $ 1,570,490.03 Variable2 May 25, 2047 II-55-B $ 1,570,490.03 Variable2 May 25, 2047 II-56-A $ 1,512,128.93 Variable2 May 25, 2047 II-56-B $ 1,512,128.93 Variable2 May 25, 2047 II-57-A $ 1,450,944.07 Variable2 May 25, 2047 II-57-B $ 1,450,944.07 Variable2 May 25, 2047 II-58-A $ 1,387,197.16 Variable2 May 25, 2047 II-58-B $ 1,387,197.16 Variable2 May 25, 2047 II-59-A $ 44,906,153.68 Variable2 May 25, 2047 II-59-B $ 44,906,153.68 Variable2 May 25, 2047 P $ 100.00 Variable2 May 25, 2047 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Uppermonth following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass-Tier Through Rate” herein. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust, the Interest Coverage Account and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 2.” The Class A-R-II Certificate represents R-2 Interest shall represent the sole class of “residual interest interests” in REMIC 2 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 2 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 2 Regular Interests. None of the REMIC 2 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 2 Pass-Through Rate Assumed Final Maturity Date1 AA $780,895,878.44 Variable2 May 25, 2047 A-IA $ 2,457,750.00 Variable2 May 25, 2047 A-IIA1 $ 1,787,125.00 Variable2 May 25, 2047 A-IIA2 $ 626,610.00 Variable2 May 25, 2047 A-IIA3 $ 997,070.00 Variable2 May 25, 2047 A-IIA4 $ 589,775.00 Variable2 May 25, 2047 M1 $ 254,985.00 Variable2 May 25, 2047 M2 $ 223,115.00 Variable2 May 25, 2047 M3 $ 135,460.00 Variable2 May 25, 2047 M4 $ 119,525.00 Variable2 May 25, 2047 M5 $ 115,540.00 Variable2 May 25, 2047 M6 $ 107,570.00 Variable2 May 25, 2047 M7 $ 103,590.00 Variable2 May 25, 2047 M8 $ 63,745.00 Variable2 May 25, 2047 M9 $ 87,655.00 Variable2 May 25, 2047 ZZ $ 8,267,135.58 Variable2 May 25, 2047 1GRP $ 11,492.04 Variable2 May 25, 2047 1SUB $ 60,647.04 Variable2 May 25, 2047 2GRP $ 18,707.87 Variable2 May 25, 2047 2SUB $ 98,719.47 Variable2 May 25, 2047 Swap IO N/A3 Variable2 May 25, 2047 FMR IO N/A4 Variable2 May 25, 2047 XX $796,642,962.59 Variable2 May 25, 2047 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property month following the month of the Trust Fund other than maturity date for the assets held in Mortgage Loan with the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby latest maturity date has been designated as the “latest possible maturity date” for each REMIC 2 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 2 Pass-Through Rate” herein. 3 REMIC 2 Regular Interest Swap IO will not have a REMIC regular interestprincipal amount but will accrue interest on its Uncertificated Notional Amount, as defined herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 2 Mortgage Loan Pass-Through Certificates, Series 2005-5 2 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen fifteen classes of certificates, designated as (i) the Class 1-A-1A A Certificates, (ii) the Class 12-A-1B A-1A Certificates, (iii) the Class 2-A-1A A-1B Certificates, (iv) the Class 2-A-1B A-1C Certificates, (v) the Class 2-A-1C A-2 Certificates, (vi) the Class X-1 X Certificates, (vii) the Class X-2 PO Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), ix) the Class A-R-II B-1 Certificates, (x) the Class B-2 Certificates, (xi) the Class B-3 Certificates, (xii) the Class P B-4 Certificates, (xiii) the Class B-1 B-5 Certificates, (xiv) the Class B-2 Certificates, B-6 Certificates and (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesY Certificate. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1BA, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class 2-A-2, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, B-5 and Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C A-1C, Class 2-A-2 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 X Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier each REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2005-2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen eighteen classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2III-A-1A A-1 Certificates, (iv) the Class 2III-A-1B A-2 Certificates, (v) the Class 2III-A-1C A-3 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 C Certificates, (xvi) the Class B-4 P Certificates, (xvii) the Class B-5 Certificates, R Certificates and (xviii) the Class B-6 Certificates and (xix) the Class B-7 R-X Certificates. As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Basis Risk Reserve Fund Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable(2) $ 30,972,781.64 March 25, 2037 I-1-II Certificate. Each such LowerB Variable(2) $ 1,763,627.50 March 25, 2037 I-2-Tier Interest is hereby designated as a REMIC regular interest.B Variable(2) $ 4,077,756.25 March 25, 2037 I-3-B Variable(2) $ 5,166,618.75 March 25, 2037 I-4-B Variable(2) $ 6,251,531.25 March 25, 2037 I-6-B Variable(2) $ 8,379,368.75 March 25, 2037 I-7-A Variable(2) $ 9,407,707.50 March 25, 2037 I-7-B Variable(2) $ 9,407,707.50 March 25, 2037 I-8-B Variable(2) $ 10,402,878.75 March 25, 2037 I-10-B Variable(2) $ 12,208,612.50 March 25, 2037 I-11-A Variable(2) $ 12,174,213.75 March 25, 2037 I-11-B Variable(2) $ 12,174,213.75 March 25, 2037 I-12-B Variable(2) $ 11,816,630.00 March 25, 2037 I-13-B Variable(2) $ 11,469,546.25 March 25, 2037 I-14-A Variable(2) $ 11,132,648.75 March 25, 2037 I-14-B Variable(2) $ 11,132,648.75 March 25, 2037 I-16-B Variable(2) $ 10,503,636.25 March 25, 2037 I-18-B Variable(2) $ 9,916,742.50 March 25, 2037 I-19-B Variable(2) $ 9,628,268.75 March 25, 2037 I-20-B Variable(2) $ 9,345,112.50 March 25, 2037 I-21-B Variable(2) $ 9,110,521.25 March 25, 2037 I-23-B Variable(2) $ 20,057,117.50 March 25, 2037 I-24-B Variable(2) $ 18,574,012.50 March 25, 2037 I-25-B Variable(2) $ 17,185,571.25 March 25, 2037 I-26-A Variable(2) $ 10,130,828.75 March 25, 2037 I-27-A Variable(2) $ 7,468,213.75 March 25, 2037 I-27-B Variable(2) $ 7,468,213.75 March 25, 2037 I-29-B Variable(2) $ 6,953,491.25 March 25, 2037 I-30-A Variable(2) $ 6,709,785.00 March 25, 2037 I-30-B Variable(2) $ 6,709,785.00 March 25, 2037 I-32-B Variable(2) $ 6,247,792.50 March 25, 2037 I-33-B Variable(2) $ 6,028,926.25 March 25, 2037 I-34-A Variable(2) $ 5,817,643.75 March 25, 2037 I-34-B Variable(2) $ 5,817,643.75 March 25, 2037 I-35-B Variable(2) $ 5,613,227.50 March 25, 2037 I-36-B Variable(2) $ 5,416,421.25 March 25, 2037 I-37-B Variable(2) $ 4,126,081.25 March 25, 2037 I-38-A Variable(2) $ 4,584,952.50 March 25, 2037 I-38-B Variable(2) $ 4,584,952.50 March 25, 2037 I-39-B Variable(2) $ 4,424,483.75 March 25, 2037 I-40-B Variable(2) $ 4,269,643.75 March 25, 2037 I-41-A Variable(2) $ 4,120,245.00 March 25, 2037 I-41-B Variable(2) $ 4,120,245.00 March 25, 2037 I-42-A Variable(2) $ 3,976,098.75 March 25, 2037 I-42-B Variable(2) $ 3,976,098.75 March 25, 2037 I-43-A Variable(2) $ 3,837,017.50 March 25, 2037 I-43-B Variable(2) $ 3,837,017.50 March 25, 2037 I-44-A Variable(2) $ 3,702,816.25 March 25, 2037 I-44-B Variable(2) $ 3,702,816.25 March 25, 2037 I-45-A Variable(2) $ 3,573,330.00 March 25, 2037 I-45-B Variable(2) $ 3,573,330.00 March 25, 2037 I-47-A Variable(2) $ 3,327,831.25 March 25, 2037 I-47-B Variable(2) $ 3,327,831.25 March 25, 2037 I-48-A Variable(2) $ 3,211,510.00 March 25, 2037 I-48-B Variable(2) $ 3,211,510.00 March 25, 2037 I-49-A Variable(2) $ 3,099,268.75 March 25, 2037 I-49-B Variable(2) $ 3,099,268.75 March 25, 2037 I-50-A Variable(2) $ 2,990,968.75 March 25, 2037 I-50-B Variable(2) $ 2,990,968.75 March 25, 2037 I-51-B Variable(2) $ 2,886,467.50 March 25, 2037 I-52-A Variable(2) $ 2,785,677.50 March 25, 2037 I-52-B Variable(2) $ 2,785,677.50 March 25, 2037 I-53-B Variable(2) $ 2,688,380.00 March 25, 2037 I-54-B Variable(2) $ 2,594,495.00 March 25, 2037 I-55-A Variable(2) $ 2,503,937.50 March 25, 2037 I-55-B Variable(2) $ 2,503,937.50 March 25, 2037 I-56-B Variable(2) $ 2,416,542.50 March 25, 2037 I-57-A Variable(2) $ 2,332,235.00 March 25, 2037 I-57-B Variable(2) $ 2,332,235.00 March 25, 2037 I-58-A Variable(2) $ 2,254,488.75 March 25, 2037 I-58-B Variable(2) $ 2,254,488.75 March 25, 2037 I-60-B Variable(2) $ 2,100,285.00 March 25, 2037 I-61-A Variable(2) $ 2,026,921.25 March 25, 2037 I-61-B Variable(2) $ 2,026,921.25 March 25, 2037 I-62-A Variable(2) $ 1,956,132.50 March 25, 2037 I-62-B Variable(2) $ 1,956,132.50 March 25, 2037 I-63-B Variable(2) $ 1,887,825.00 March 25, 2037 I-64-B Variable(2) $ 1,821,783.75 March 25, 2037 I-65-B Variable(2) $ 1,758,126.25 March 25, 2037 I-66-A Variable(2) $ 1,696,772.50 March 25, 2037 I-66-B Variable(2) $ 1,696,772.50 March 25, 2037 I-67-B Variable(2) $ 1,637,571.25 March 25, 2037 I-68-A Variable(2) $ 45,673,872.50 March 25, 2037 I-68-B Variable(2) $ 45,673,872.50 March 25, 2037 ___________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which Certificates in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen six classes of certificates, designated as (i) the Class 1-A-1A CertificatesA-1 Certificates , (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A M Certificates, (iv) the Class 2-A-1B B Certificates, (v) the Class 2-A-1C Certificates, C Certificates and (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that will make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in the Basis Risk Excess Reserve Fund and Account, the Yield Maintenance Swap Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not R-1 Interest will represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein) under federal income tax law. The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests. None of the assets held in the Basis Risk Reserve FundREMIC 1 Regular Interests will be certificated. LTA Variable(2) $ 7,875,000.00 October 25, the Yield Maintenance Account2010 LTB Variable(2) $ 95,000,000.00 October 25, the Yield Maintenance Agreements2010 LTC Variable(2) $ 147,125,000.00 October 25, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.2010 ___________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Indymac Residential Mortgage-Backed Trust, Series 2005-L2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Luminent Mortgage Loan Trust 20052006-5 5’s Mortgage Loan Pass-Through Certificates, Series 20052006-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen fourteen classes of certificates, designated as (i) the Class 1-A-1A A1A Certificates, (ii) the Class 1-A-1B A1B Certificates, (iii) the Class 2-A-1A A1C Certificates, (iv) the Class 2-A-1B X Certificates, (v) the Class 2-A-1C PO Certificates, (vi) the Class X-1 R Certificates, (vii) the Class X-2 B-1 Certificates, (viii) the Class PO-1 B-2 Certificates, (ix) the Class PO-2 B-3 Certificates, (x) the Class A-R B-4 Certificates, (xi), ) the Class A-R-II B-5 Certificates, (xii) the Class P B-6 Certificates, (xiii) the Class B-1 Certificates, ES Certificates and (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 I Certificates. As provided herein, the Trustee an election shall elect be made that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund Fund, the Class ES Distributable Amount, the Final Maturity Reserve Trust and the Yield Maintenance Final Maturity Reserve Account and (the Yield Maintenance Agreements“Excluded Trust Property”)) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateES Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) 5.07. The owners of the Class 1-A-1A, X Certificates beneficially own the Basis Risk Reserve Fund. The Regular Certificates (other than the Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates X Certificates) represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04Final Maturity Reserve Account. The owners of the Class X-1 and Class X-2 I Certificates beneficially own the Basis Risk Final Maturity Reserve Fund Account and the Yield Maintenance AccountFinal Maturity Reserve Trust. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents ownership of the sole class of residual interest in each of the UpperLower-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the LowerUpper-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund Fund, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Excluded Trust Property and the interests in the Lower-Tier REMIC formed herebyInterests. The Upper Upper-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The following table specifies the Class designation, interest rate, and initial principal amount for each Lower-Tier REMIC Interest: Designation Interest Rate Initial Principal Balance Corresponding Class of Certificates LT-A1A (1) $ 137,373,500.00 Class A1A, Class R LT-A1B (1) $ 57,238,500.00 Class A1B LT-A1C (1) $ 34,343,000.00 Class A1C LT-Q (1) $ 244,218,850.35 N/A LT-Z (1) $ 5,087,890.63 N/A LT-Y (1) $ 5,087,890.63 N/A LT-B1 (1) $ 10,684,500.00 Class B-1 LT-B2 (1) $ 4,833,500.00 Class B-2 LT-B3 (1) $ 2,925,500.00 Class B-3 LT-B4 (1) $ 3,307,000.00 Class B-4 LT-B5 (1) $ 1,908,000.00 Class B-5 LT-B6 (1) $ 1,781,031.61 Class B-6 LT-IO (2) (3) I LT-R (4) (4) N/A
Appears in 1 contract
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052006-5 11 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist of nineteen twelve classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A B-1 Certificates, (iv) the Class 2-A-1B B-2 Certificates, (v) the Class 2-A-1C B-3 Certificates, (vi) the Class X-1 B-4 Certificates, (vii) the Class X-2 B-5 Certificates, (viii) the Class PO-1 B-6 Certificates, (ix) the Class PO-2 B-7 Certificates, (x) the Class A-R C Certificates, (xi), ) the Class A-R-II Certificates, P Certificates and (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R Certificates. As provided herein, the Trustee an election shall elect be made that the Trust Fund (exclusive of the assets held in (i) the Basis Risk Reserve Fund Fund, (ii) the Swap Agreement, (iii) the Basis Risk Cap Agreement, (iv) the Basis Risk Cap Replacement Receipts Account, (v) the Basis Risk Cap Termination Receipts Account, (vi) the Swap Account, (vii) the Swap Replacement Receipts Account, (viii) the Swap Termination Receipts Account, (ix) the Supplemental Interest Trust, (x) the obligation to pay Net Swap Payments, and (xi) the right to receive and the Yield Maintenance Account obligation to pay Basis Risk Shortfalls and Unpaid Interest Shortfall Amounts (the Yield Maintenance Agreements“Excluded Trust Property”)) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, three REMICs in a “REMIC” or, in the alternative, tiered REMIC structure : the “Lower-Tier REMIC,” the “Middle-Tier REMIC,” and the “Upper-Tier REMIC”).” Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such elections. Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 The LIBOR Certificates also represent the right to receive payments in respect of Basis Risk Shortfalls from (i) the Basis Risk Reserve Fund as provided in Section 5.07 and 5.07, (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Cap Account as provided in Section 4.045.09 and (iii) from the Swap Account as provided in Section 5.10. The owners of the Class X-1 and Class X-2 C Certificates beneficially own the Basis Risk Reserve Fund Fund, the Basis Risk Cap Account, the Supplemental Interest Trust and the Yield Maintenance Swap Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in each of the Upper-Tier REMIC REMIC, Middle-Tier REMIC, and the Class ALower-RTier REMIC. The Lower-II Certificate represents Tier REMIC shall hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and will issue interests (the “Lower-Tier Regular Interests”), which will be uncertificated and will represent the regular interests in the Lower-Tier REMIC, and a residual interest (the “LT-R Interest”), which will also be uncertificated and which will represent the sole class of residual interest in the Lower-Tier REMIC. The LowerMiddle-Tier REMIC shall hold as its assets all property the uncertificated Lower Tier Regular Interests in the Lower-Tier REMIC and will issue interests (the “Middle-Tier Regular Interests”), which will be uncertificated and will represent the regular interests in the Middle-Tier REMIC, and a residual interest (the “MT-R Interest”) which will also be uncertificated and which will represent the sole class of residual interest in the Lower-Tier REMIC. The Upper-Tier REMIC shall hold as its assets the uncertificated Middle-Tier Regular Interests in the Middle-Tier REMIC. For purposes of the Trust Fund other than the assets held in the Basis Risk Reserve FundREMIC Provisions, the Yield Maintenance Accountstartup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. The following table sets forth (or describes) the designation, the Yield Maintenance Agreementsinterest rate, and initial principal balance for each of the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated LowerREMIC: LT-Tier REMIC Interests, other than the Class A $ 40,875,707.16 (1) LT-F1 $ 4,424,606.25 (2) LT-V1 $ 4,424,606.25 (3) LT-F2 $ 4,793,871.25 (2) LT-V2 $ 4,793,871.25 (3) LT-F3 $ 5,137,295.00 (2) LT-V3 $ 5,137,295.00 (3) LT-F4 $ 5,783,471.25 (2) LT-V4 $ 5,783,471.25 (3) LT-F5 $ 5,156,305.00 (2) LT-V5 $ 5,156,305.00 (3) LT-F6 $ 4,997,538.75 (2) LT-V6 $ 4,997,538.75 (3) LT-F7 $ 4,843,661.25 (2) LT-V7 $ 4,843,661.25 (3) LT-F8 $ 4,694,518.75 (2) LT-V8 $ 4,694,518.75 (3) LT-F9 $ 4,549,967.50 (2) LT-V9 $ 4,549,967.50 (3) LT-F10 $ 4,409,867.50 (2) LT-V10 $ 4,409,867.50 (3) LT-F11 $ 4,274,077.50 (2) LT-V11 $ 4,274,077.50 (3) LT-F12 $ 4,142,468.75 (2) LT-V12 $ 4,142,468.75 (3) LT-F13 $ 4,014,912.50 (2) LT-V13 $ 4,014,912.50 (3) LT-F14 $ 3,891,281.25 (2) LT-V14 $ 3,891,281.25 (3) LT-F15 $ 3,771,456.25 (2) LT-V15 $ 3,771,456.25 (3) LT-F16 $ 3,655,320.00 (2) LT-V16 $ 3,655,320.00 (3) LT-F17 $ 3,542,760.00 (2) LT-V17 $ 3,542,760.00 (3) LT-F18 $ 3,433,662.50 (2) LT-V18 $ 3,433,662.50 (3) LT-F19 $ 3,327,926.25 (2) LT-V19 $ 3,327,926.25 (3) LT-F20 $ 3,225,443.75 (2) LT-V20 $ 3,225,443.75 (3) LT-F21 $ 3,126,116.25 (2) LT-V21 $ 3,126,116.25 (3) LT-F22 $ 3,029,846.25 (2) LT-V22 $ 3,029,846.25 (3) LT-F23 $ 2,936,541.25 (2) LT-V23 $ 2,936,541.25 (3) LT-F24 $ 2,846,107.50 (2) LT-V24 $ 2,846,107.50 (3) LT-F25 $ 2,758,457.50 (2) LT-V25 $ 2,758,457.50 (3) LT-F26 $ 2,673,507.50 (2) LT-V26 $ 2,673,507.50 (3) LT-F27 $ 2,591,172.50 (2) LT-V27 $ 2,591,172.50 (3) LT-F28 $ 2,511,371.25 (2) LT-V28 $ 2,511,371.25 (3) LT-F29 $ 2,434,027.50 (2) LT-V29 $ 2,434,027.50 (3) LT-F30 $ 2,359,065.00 (2) LT-V30 $ 2,359,065.00 (3) LT-F31 $ 2,286,410.00 (2) LT-V31 $ 2,286,410.00 (3) LT-F32 $ 2,215,992.50 (2) LT-V32 $ 2,215,992.50 (3) LT-F33 $ 2,147,742.50 (2) LT-V33 $ 2,147,742.50 (3) LT-F34 $ 2,081,595.00 (2) LT-V34 $ 2,081,595.00 (3) LT-F35 $ 2,017,482.50 (2) LT-V35 $ 2,017,482.50 (3) LT-F36 $ 1,955,343.75 (2) LT-V36 $ 1,955,343.75 (3) LT-F37 $ 1,895,120.00 (2) LT-V37 $ 1,895,120.00 (3) LT-F38 $ 1,836,750.00 (2) LT-V38 $ 1,836,750.00 (3) LT-F39 $ 1,780,176.25 (2) LT-V39 $ 1,780,176.25 (3) LT-F40 $ 1,725,345.00 (2) LT-V40 $ 1,725,345.00 (3) LT-F41 $ 1,672,202.50 (2) LT-V41 $ 1,672,202.50 (3) LT-F42 $ 1,620,695.00 (2) LT-V42 $ 1,620,695.00 (3) LT-F43 $ 1,570,775.00 (2) LT-V43 $ 1,570,775.00 (3) LT-F44 $ 1,522,390.00 (2) LT-V44 $ 1,522,390.00 (3) LT-F45 $ 1,475,497.50 (2) LT-V45 $ 1,475,497.50 (3) LT-F46 $ 1,430,047.50 (2) LT-V46 $ 1,430,047.50 (3) LT-F47 $ 1,385,996.25 (2) LT-V47 $ 1,385,996.25 (3) LT-F48 $ 1,343,302.50 (2) LT-V48 $ 1,343,302.50 (3) LT-F49 $ 1,453,556.25 (2) LT-V49 $ 1,453,556.25 (3) LT-F50 $ 1,632,238.75 (2) LT-V50 $ 1,632,238.75 (3) LT-F51 $ 7,844,956.25 (2) LT-V51 $ 7,844,956.25 (3) LT-F52 $ 12,180,742.50 (2) LT-V52 $ 12,180,742.50 (3) LT-F53 $ 589,963.75 (2) LT-V53 $ 589,963.75 (3) LT-F54 $ 571,782.50 (2) LT-V54 $ 571,782.50 (3) LT-F55 $ 554,161.25 (2) LT-V55 $ 554,161.25 (3) LT-F56 $ 537,083.75 (2) LT-V56 $ 537,083.75 (3) LT-F57 $ 520,530.00 (2) LT-V57 $ 520,530.00 (3) LT-F58 $ 504,487.50 (2) LT-V58 $ 504,487.50 (3) LT-F59 $ 488,940.00 (2) LT-V59 $ 488,940.00 (3) LT-F60 $ 473,871.25 (2) LT-V60 $ 473,871.25 (3) LT-F61 $ 459,265.00 (2) LT-V61 $ 459,265.00 (3) LT-F62 $ 445,110.00 (2) LT-V62 $ 445,110.00 (3) LT-F63 $ 431,391.25 (2) LT-V63 $ 431,391.25 (3) LT-F64 $ 418,095.00 (2) LT-V64 $ 418,095.00 (3) LT-F65 $ 405,208.75 (2) LT-V65 $ 405,208.75 (3) LT-F66 $ 392,717.50 (2) LT-V66 $ 392,717.50 (3) LT-F67 $ 380,613.75 (2) LT-V67 $ 380,613.75 (3) LT-F68 $ 368,881.25 (2) LT-V68 $ 368,881.25 (3) LT-F69 $ 357,511.25 (2) LT-V69 $ 357,511.25 (3) LT-F70 $ 346,491.25 (2) LT-V70 $ 346,491.25 (3) LT-F71 $ 335,810.00 (2) LT-V71 $ 335,810.00 (3) LT-F72 $ 399,658.75 (2) LT-V72 $ 399,658.75 (3) LT-F73 $ 345,087.50 (2) LT-V73 $ 345,087.50 (3) LT-F74 $ 364,772.50 (2) LT-V74 $ 364,772.50 (3) LT-F75 $ 1,738,266.25 (2) LT-V75 $ 1,738,266.25 (3) LT-F76 $ 7,703,782.50 (2) LT-V76 $ 7,703,782.50 (3) LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.(4) (4) ___________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (HarborView 2006-11)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-five classes of certificates, designated as (i) the Class 1-A-1A A1-1 Certificates, (ii) the Class 1-A-1B A1-2 Certificates, (iii) the Class 21-A-1A A2-A Certificates, (iv) the Class 21-A-1B A2-B Certificates, (v) the Class 21-A-1C Certificates, (viA2-C Certificates,(vi) the Class X-1 2-A-1 Certificates, (vii) the Class X-2 2-A-2 Certificates, (viii) the Class PO-1 1-M-1 Certificates, (ix) the Class PO-2 1-M-2 Certificates, (x) the Class A1-R M-3 Certificates, (xi), ) the Class A1-R-II M-4 Certificates, (xii) the Class P 1-M-5 Certificates, (xiii) the Class B-1 1-M-6 Certificates, (xiv) the Class B-2 1-M-7 Certificates, (xvx) the Class B-3 1-M-8 Certificates, (xvixi) the Class B-4 2-M-1 Certificates, (xviixii) the Class B-5 2-M-2 Certificates, (xviiixiii) the Class B-6 Certificates and 2-M-3 Certificates, (xix) the Class B-7 1-B Certificates, (xx) the Class 2-B Certificates, (xxi) the Class C-R Certificates, (xxii) the Class C-M Certificates, (xxiii) the Class P-R Certificates, (xxiv) the Class P-M Certificates, and (xxv) the Class R Certificates. As provided herein, the Trustee shall will elect that to treat the Trust Fund segregated pool of assets consisting of Loan Group 1 and certain other related assets (exclusive other than the Group 1 Net WAC Shortfall Reserve Fund, any related Master Servicer Prepayment Charge Payment Amounts and, for the avoidance of doubt, the assets held in Group 1 Supplemental Interest Trust, the Basis Risk Reserve Fund and the Yield Maintenance Group 1 Swap Account and the Yield Maintenance AgreementsGroup 1 Interest Rate Swap Agreement) be treated subject to this Agreement as a REMIC for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents R-1 Interest will be the sole class of residual interest Residual Interests in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the LowerREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated LowerThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-Tier REMIC Interests, other than the Class LT1-A Variable(2) $ 977,900.25 August 2036 1-1-B Variable(2) $ 977,900.25 August 2036 1-2-A Variable(2) $ 1,318,993.50 August 2036 1-2-B Variable(2) $ 1,318,993.50 August 2036 1-3-A Variable(2) $ 1,660,765.50 August 2036 1-3-B Variable(2) $ 1,660,765.50 August 2036 1-4-A Variable(2) $ 2,001,067.50 August 2036 1-4-B Variable(2) $ 2,001,067.50 August 2036 1-5-A Variable(2) $ 2,337,800.50 August 2036 1-5-B Variable(2) $ 2,337,800.50 August 2036 1-6-A Variable(2) $ 2,668,608.00 August 2036 1-6-B Variable(2) $ 2,668,608.00 August 2036 1-7-A Variable(2) $ 2,991,283.25 August 2036 1-7-B Variable(2) $ 2,991,283.25 August 2036 1-8-A Variable(2) $ 3,303,556.00 August 2036 1-8-B Variable(2) $ 3,303,556.00 August 2036 1-9-A Variable(2) $ 3,579,021.00 August 2036 1-9-B Variable(2) $ 3,579,021.00 August 2036 1-10-A Variable(2) $ 3,841,078.75 August 2036 1-10-B Variable(2) $ 3,841,078.75 August 2036 1-11-A Variable(2) $ 3,942,968.00 August 2036 1-11-B Variable(2) $ 3,942,968.00 August 2036 1-12-A Variable(2) $ 3,891,888.50 August 2036 1-12-B Variable(2) $ 3,891,888.50 August 2036 1-13-A Variable(2) $ 3,774,295.50 August 2036 1-13-B Variable(2) $ 3,774,295.50 August 2036 1-14-A Variable(2) $ 3,660,235.75 August 2036 1-14-B Variable(2) $ 3,660,235.75 August 2036 1-15-A Variable(2) $ 3,549,619.50 August 2036 1-15-B Variable(2) $ 3,549,619.50 August 2036 1-16-A Variable(2) $ 3,442,297.50 August 2036 1-16-B Variable(2) $ 3,442,297.50 August 2036 1-17-A Variable(2) $ 3,338,173.25 August 2036 1-17-B Variable(2) $ 3,338,173.25 August 2036 1-18-A Variable(2) $ 3,237,238.25 August 2036 1-18-B Variable(2) $ 3,237,238.25 August 2036 1-19-A Variable(2) $ 3,139,364.00 August 2036 1-19-B Variable(2) $ 3,139,364.00 August 2036 1-20-A Variable(2) $ 8,713,977.25 August 2036 1-20-B Variable(2) $ 8,713,977.25 August 2036 1-21-A Variable(2) $ 2,779,268.75 August 2036 1-21-B Variable(2) $ 2,779,268.75 August 2036 1-22-A Variable(2) $ 5,529,972.00 August 2036 1-22-B Variable(2) $ 5,529,972.00 August 2036 1-23-A Variable(2) $ 6,779,380.50 August 2036 1-23-B Variable(2) $ 6,779,380.50 August 2036 1-24-A Variable(2) $ 3,738,314.50 August 2036 1-24-B Variable(2) $ 3,738,314.50 August 2036 1-25-A Variable(2) $ 2,207,397.50 August 2036 1-25-B Variable(2) $ 2,207,397.50 August 2036 1-26-A Variable(2) $ 2,140,540.00 August 2036 1-26-B Variable(2) $ 2,140,540.00 August 2036 1-27-A Variable(2) $ 2,075,692.50 August 2036 1-27-B Variable(2) $ 2,075,692.50 August 2036 1-28-A Variable(2) $ 2,012,807.50 August 2036 1-28-B Variable(2) $ 2,012,807.50 August 2036 1-29-A Variable(2) $ 1,951,800.00 August 2036 1-29-B Variable(2) $ 1,951,800.00 August 2036 1-30-A Variable(2) $ 1,892,675.00 August 2036 1-30-B Variable(2) $ 1,892,675.00 August 2036 1-31-A Variable(2) $ 1,835,322.50 August 2036 1-31-B Variable(2) $ 1,835,322.50 August 2036 1-32-A Variable(2) $ 1,779,635.00 August 2036 1-32-B Variable(2) $ 1,779,635.00 August 2036 1-33-A Variable(2) $ 1,725,647.50 August 2036 1-33-B Variable(2) $ 1,725,647.50 August 2036 1-34-A Variable(2) $ 7,534,410.00 August 2036 1-34-B Variable(2) $ 7,534,410.00 August 2036 1-35-A Variable(2) $ 1,443,282.50 August 2036 1-35-B Variable(2) $ 1,443,282.50 August 2036 1-36-A Variable(2) $ 8,237,347.50 August 2036 1-36-B Variable(2) $ 8,237,347.50 August 2036 1-37-A Variable(2) $ 1,147,782.50 August 2036 1-37-B Variable(2) $ 1,147,782.50 August 2036 1-38-A Variable(2) $ 1,112,952.50 August 2036 1-38-B Variable(2) $ 1,112,952.50 August 2036 1-39-A Variable(2) $ 1,079,165.00 August 2036 1-39-B Variable(2) $ 1,079,165.00 August 2036 1-40-A Variable(2) $ 1,046,395.00 August 2036 1-40-B Variable(2) $ 1,046,395.00 August 2036 1-41-A Variable(2) $ 1,014,575.00 August 2036 1-41-B Variable(2) $ 1,014,575.00 August 2036 1-42-A Variable(2) $ 983,792.50 August 2036 1-42-B Variable(2) $ 983,792.50 August 2036 1-43-A Variable(2) $ 953,897.50 August 2036 1-43-B Variable(2) $ 953,897.50 August 2036 1-44-A Variable(2) $ 924,885.00 August 2036 1-44-B Variable(2) $ 924,885.00 August 2036 1-45-A Variable(2) $ 896,782.50 August 2036 1-45-B Variable(2) $ 896,782.50 August 2036 1-46-A Variable(2) $ 869,530.00 August 2036 1-46-B Variable(2) $ 869,530.00 August 2036 1-47-A Variable(2) $ 843,095.00 August 2036 1-47-B Variable(2) $ 843,095.00 August 2036 1-48-A Variable(2) $ 817,410.00 August 2036 1-48-B Variable(2) $ 817,410.00 August 2036 1-49-A Variable(2) $ 792,562.50 August 2036 1-49-B Variable(2) $ 792,562.50 August 2036 1-50-A Variable(2) $ 768,442.50 August 2036 1-50-B Variable(2) $ 768,442.50 August 2036 1-51-A Variable(2) $ 745,017.50 August 2036 1-51-B Variable(2) $ 745,017.50 August 2036 1-52-A Variable(2) $ 722,337.50 August 2036 1-52-B Variable(2) $ 722,337.50 August 2036 1-53-A Variable(2) $ 700,365.00 August 2036 1-53-B Variable(2) $ 700,365.00 August 2036 1-54-A Variable(2) $ 679,052.50 August 2036 1-54-B Variable(2) $ 679,052.50 August 2036 1-55-A Variable(2) $ 658,347.50 August 2036 1-55-B Variable(2) $ 658,347.50 August 2036 1-56-A Variable(2) $ 638,282.50 August 2036 1-56-B Variable(2) $ 638,282.50 August 2036 1-57-A Variable(2) $ 618,830.00 August 2036 1-57-B Variable(2) $ 618,830.00 August 2036 1-58-A Variable(2) $ 7,997,132.50 August 2036 1-58-B Variable(2) $ 7,997,132.50 August 2036 1-59-A Variable(2) $ 10,062,652.50 August 2036 1-59-B Variable(2) $ 10,062,652.50 August 2036 1-60-A Variable(2) $ 1,431,030.00 August 2036 1-60-B Variable(2) $ 1,431,030.00 August 2036 1-Non-Swap Variable(2) $ 271,737,769.15 August 2036 P-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.Variable(2) $ 100.00 August 2036 ___________________
Appears in 1 contract
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 20052003-5 3 Mortgage Loan Pass-Through Certificates, Series 20052003-5 3 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twelve classes of certificates, designated as (i) the Class 1-A-1A 1A-1 Certificates, (ii) the Class 1A-A-1B X Certificates, (iii) the Class 2-A-1A 2A-1 Certificates, (iv) the Class 2-A-1B 2A-2 Certificates, (v) the Class 2-A-1C 2A-3 Certificates, (vi) the Class X-1 CertificatesA-R Certificate, (vii) the Class X-2 B-1 Certificates, (viii) the Class PO-1 B-2 Certificates, (ix) the Class PO-2 B-3 Certificates, (x) the Class A-R B-4 Certificates, (xi), ) the Class A-R-II Certificates, B-5 Certificates and (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance AgreementsFund) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A1A-1, Class 1-A-1B2A-1, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 2A-2 and Class B-7 2A-3 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.045.07. The owners of the Class X-1 and Class X-2 A-X Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunderFund. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier each REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier any REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The following table specifies the Class designation, interest rate, and initial Class Principal Amount for each Class of Lower-Tier REMIC Interest: Class Designation Interest Rate Initial Principal Balance Corresponding Class of Certificates LT1A-1 (1) $ 12,487,500.00 Class 1A-1 LT2A-1 (1) $ 67,278,000.00 Class 2A-1 LT2A-2 (1) $ 15,050,000.00 Class 2A-2 LT2A-3 (1) $ 450,000.00 Class 2-A-3 LTA-R (1) $ 25.00 Class A-R LT-Group 1 (2) $ 13,118,580.37 N/A LT-SC-1 (2) $ 26,293.97 N/A LT-Group 2 (3) $ 86,960,578.04 N/A LT-SC-2 (3) $ 174,274.09 N/A LTQ (1) $ 200,559,452.94 N/A LT-R (4) (4) Class A-R __________________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc Harborview Mort Ln Tr 03 3)
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified) to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView Mortgage mortgage pass-through certificates designated as ACE Securities Corp. Home Equity Loan Trust 2005Trust, Series 2006-5 Mortgage Loan SL1, Asset Backed Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen sixteen classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for ACE Securities Corp. Home Equity Loan Trust, designated as (i) the Class 1Series 2006-A-1A SL1, Asset Backed Pass-Through Certificates, dated as of January 1, 2006 (iithe “Pooling and Servicing Agreement”), among the Purchaser as depositor, ▇▇▇▇▇ Fargo Bank, N.A. as master servicer (the “Master Servicer”) and securities administrator (the Class 1-A-1B Certificates“Securities Administrator”), Ocwen Loan Servicing, LLC as a servicer (iii“Ocwen” or a “Servicer”), GMAC Mortgage Corporation as a servicer (“GMAC” or a “Servicer” and together with Ocwen collectively, the “Servicers”) and HSBC Bank USA, National Association as trustee (the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) “Trustee”). The Purchaser will sell the Class A-R , Class M-1A, Class M-1B, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class M-9 Certificates (collectively, the “Mezzanine Certificates, ”) to Deutsche Bank Securities Inc. (xi“DBSI”), pursuant to the Class A-R-II CertificatesAmended and Restated Underwriting Agreement, dated as of June 24, 1999, as amended and restated to and including January 25, 2006, between the Purchaser and DBSI, and the Terms Agreement, dated January 26, 2006 (xii) collectively, the Class P Certificates“Underwriting Agreement”), (xiii) between the Purchaser and DBSI. The Purchaser will sell the Class B-1 CertificatesCertificates to DBSI pursuant to the Purchase Agreement dated as of January 26, (xiv) 2006 between Purchaser and DBSI. Capitalized terms used but not defined herein shall have the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held meanings set forth in the Basis Risk Reserve Fund Pooling and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04Servicing Agreement. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold parties hereto agree as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Sl1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen fifteen classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B M-1 Certificates, (v) the Class 2-A-1C M-2 Certificates, (vi) the Class X-1 M-3 Certificates, (vii) the Class X-2 M-4 Certificates, (viii) the Class PO-1 M-5 Certificates, (ix) the Class PO-2 M-6 Certificates, (x) the Class A-R M-7 Certificates, (xi), ) the Class A-R-II M-8 Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 M-9 Certificates, (xiv) the Class B-2 CE Certificates, (xv) the Class B-3 Certificates, R Certificates and (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R-X Certificates. As provided herein, the Trustee shall Securities Administrator will elect that to treat the Trust Fund (exclusive segregated pool of assets consisting of the Mortgage Loans and certain other related assets held in (other than the Basis Risk Available Funds Shortfall Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreementsany Servicer Prepayment Charge Payment Amounts) be treated subject to this Agreement as a REMIC for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents R-1 Interest will be the sole class of residual interest Residual Interests in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve FundREMIC 1 Regular Interests will be certificated. AA Variable(2) $ 312,746,411.58 July 25, the Yield Maintenance Account2037 M-1 Variable(2) $ 193,070.00 July 25, the Yield Maintenance Agreements2037 M-2 Variable(2) $ 111,700.00 July 25, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests2037 M-3 Variable(2) $ 31,910.00 July 25, other than the Class LT-R Interest2037 M-4 Variable(2) $ 51,060.00 July 25, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.2037 M-5 Variable(2) $ 30,320.00 July 25, 2037 M-6 Variable(2) $ 20,740.00 July 25, 2037 M-7 Variable(2) $ 30,320.00 July 25, 2037 M-8 Variable(2) $ 20,740.00 July 25, 2037 M-9 Variable(2) $ 31,920.00 July 25, 2037 ZZ Variable(2) $ 3,312,559.83 July 25, 2037 ___________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Alliance Bancorp Trust 2007-Oa1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 20052004-5 6 Mortgage Loan Pass-Through Certificates, Series 20052004-5 6 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen fifteen classes of certificates, designated as (i) the Class 1-A-1A A Certificates, (ii) the Class 12-A-1B A Certificates, (iii) the Class 23-A-1A A-1 Certificates, (iv) the Class 23-A-1B A-2A Certificates, (v) the Class 23-A-1C A-2B Certificates, (vi) the Class X-1 4-A Certificates, (vii) the Class X-2 5-A Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), ix) the Class A-R-II B-1 Certificates, (x) the Class B-2 Certificates, (xi) the Class B-3 Certificates, (xii) the Class P B-4 Certificates, (xiii) the Class B-1 B-5 Certificates, (xiv) the Class B-2 Certificates, B-6 Certificates and (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesP Certificate. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R P Certificate and the Class A-R-II R Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier each REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier any REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The following table specifies the Class designation, interest rate, and initial Class Principal Amount for each Class of Lower-Tier REMIC Interest: Lower Tier REMIC Class LT-Group 1 (1) $ 32,230,794.30 Group1 Class LT-SC1 (1) $ 20,966.61 Group 1 Class LT-Group 2 (2) $ 94,050,083.50 Group 2 Class LT-SC2 (2) $ 61,172.56 Group 2 Class LT-Group 3 (3) $ 272,546,408.21 Group 3 Class LT-SC3 (3) $ 177,276.85 Group 3 Class LT-Group 4 (4) $ 214,313,193.41 Group 4 Class LT-SC4 (4) $ 139,395.89 Group 4 Class LT-Group 5 (5) $ 87,121,781.38 Group 5 Class LT-SC5 (5) $ 56,674.56 Group 5 Class LT-R (6) (6) N/A __________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2II-A-1C A-4 Certificates, (vi) the Class X-1 II-A-5 Certificates, (vii) the Class X-2 II-A-6 Certificates, (viii) the Class PO-1 M-1 Certificates, (ix) the Class PO-2 M-2 Certificates, (x) the Class A-R M-3 Certificates, (xi), ) the Class A-R-II M-4 Certificates, (xii) the Class P M-5 Certificates, (xiii) the Class B-1 M-6 Certificates, (xiv) the Class B-2 M-7 Certificates, (xv) the Class B-3 M-8 Certificates, (xvi) the Class B-4 M-9 Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 Certificates and P Certificates, (xix) the Class B-7 R Certificates and (xx) the Class R-X Certificates. As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in the Basis Risk Net WAC Rate Carryover Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreementsany Servicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.Through Rate(2) Initial Uncertificated Principal Balance Assumed Final Maturity Date(1) LTAA Variable $ 686,000,128.05 March 2037 LTIA1 Variable $ 3,883,520.00 March 2037 LTIIA1 Variable $ 694,760.00 March 2037 LTIIA2 Variable $ 233,830.00 March 2037 LTIIA3 Variable $ 332,630.00 March 2037 LTIIA4 Variable $ 168,350.00 March 2037 LTIIA5 Variable $ 178,910.00 March 2037 LTIIA6 Variable $ 143,000.00 March 2037 LTM1 Variable $ 329,000.00 March 2037 LTM2 Variable $ 185,500.00 March 2037 LTM3 Variable $ 108,500.00 March 2037 LTM4 Variable $ 101,500.00 March 2037 LTM5 Variable $ 91,000.00 March 2037 LTM6 Variable $ 84,000.00 March 2037 LTM7 Variable $ 77,000.00 March 2037 LTM8 Variable $ 56,000.00 March 2037 LTM9 Variable $ 70,000.00 March 2037 LTZZ Variable $ 7,262,502.61 March 2037 LTP Variable $ 100.00 March 2037 ___________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Fxd2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1I-A-1A APT, Class I-A1A, Class I-A1B, Class I-A1C1, Class I-A1C2, Class II-APT, Class II-A1 and Class II-A2 Certificates, (ii) the Class 1-A-1B M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates, (iii) the Class 2-A-1A C Certificates, (iv) the Class 2-A-1B Certificates, P Certificates and (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that will make an election to treat the segregated pool of assets consisting of the Trust Fund (exclusive of the assets held in the Basis Risk Shortfall Reserve Fund and for the avoidance of doubt, the Supplemental Interest Trust, the Yield Maintenance Account Agreement and the Yield Maintenance AgreementsSwap Agreement) be treated as a REMIC for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account“REMIC 1”. The Class P Certificate represents an interest in the Trust Fund but does not R-1 Interest will represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions. The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests. None of the assets held in the Basis Risk Reserve FundREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Certificate Principal Balance Assumed Final Maturity Date(1) I (2) $ 5,568,372.55 April 25, the Yield Maintenance Account2036 I-1-A (2) $ 4,962,215.12 April 25, the Yield Maintenance Agreements2036 I-1-B (2) $ 4,962,215.12 April 25, and the interests in the Lower2036 I-2-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated LowerB (2) $ 6,020,180.07 April 25, 2036 I-3-Tier REMIC InterestsB (2) $ 7,068,202.11 April 25, other than the Class LT2036 I-4-R InterestA (2) $ 8,097,438.32 April 25, ownership of which shall be evidenced by the Class A2036 I-4-RB (2) $ 8,097,438.32 April 25, 2036 I-5-A (2) $ 9,098,776.97 April 25, 2036 I-5-B (2) $ 9,098,776.97 April 25, 2036 I-6-A (2) $ 10,062,942.88 April 25, 2036 I-6-B (2) $ 10,062,942.88 April 25, 2036 I-7-A (2) $ 10,980,614.69 April 25, 2036 I-7-B (2) $ 10,980,614.69 April 25, 2036 I-8-A (2) $ 11,840,392.57 April 25, 2036 I-8-B (2) $ 11,840,392.57 April 25, 2036 I-9-A (2) $ 12,578,345.90 April 25, 2036 I-9-B (2) $ 12,578,345.90 April 25, 2036 I-10-A (2) $ 12,559,583.04 April 25, 2036 I-10-B (2) $ 12,559,583.04 April 25, 2036 I-11-A (2) $ 12,016,785.27 April 25, 2036 I-11-B (2) $ 12,016,785.27 April 25, 2036 I-12-A (2) $ 11,498,594.12 April 25, 2036 I-12-B (2) $ 11,498,594.12 April 25, 2036 I-13-A (2) $ 11,003,859.79 April 25, 2036 I-13-B (2) $ 11,003,859.79 April 25, 2036 I-14-A (2) $ 10,531,487.24 April 25, 2036 I-14-B (2) $ 10,531,487.24 April 25, 2036 I-15-A (2) $ 10,080,433.38 April 25, 2036 I-15-B (2) $ 10,080,433.38 April 25, 2036 I-16-A (2) $ 9,649,704.80 April 25, 2036 I-16-B (2) $ 9,649,704.80 April 25, 2036 I-17-B (2) $ 9,238,355.19 April 25, 2036 I-18-A (2) $ 8,845,483.22 April 25, 2036 I-18-B (2) $ 8,845,483.22 April 25, 2036 I-19-A (2) $ 8,470,230.27 April 25, 2036 I-19-B (2) $ 8,470,230.27 April 25, 2036 I-20-A (2) $ 8,111,778.51 April 25, 2036 I-20-B (2) $ 8,111,778.51 April 25, 2036 I-21-A (2) $ 7,769,276.09 April 25, 2036 I-21-B (2) $ 7,769,276.09 April 25, 2036 I-22-B (2) $ 7,439,619.58 April 25, 2036 I-23-A (2) $ 7,127,286.24 April 25, 2036 I-23-B (2) $ 7,127,286.24 April 25, 2036 I-24-A (2) $ 33,024,835.99 April 25, 2036 I-24-B (2) $ 33,024,835.99 April 25, 2036 I-25-A (2) $ 5,267,523.34 April 25, 2036 I-25-B (2) $ 5,267,523.34 April 25, 2036 I-26-A (2) $ 5,057,082.14 April 25, 2036 I-26-B (2) $ 5,057,082.14 April 25, 2036 I-27-A (2) $ 4,855,665.26 April 25, 2036 I-27-B (2) $ 4,855,665.26 April 25, 2036 I-28-A (2) $ 4,662,865.65 April 25, 2036 I-28-B (2) $ 4,662,865.65 April 25, 2036 I-29-A (2) $ 4,478,295.26 April 25, 2036 I-29-B (2) $ 4,478,295.26 April 25, 2036 I-30-A (2) $ 4,301,584.10 April 25, 2036 I-30-B (2) $ 4,301,584.10 April 25, 2036 I-31-B (2) $ 4,132,379.37 April 25, 2036 I-32-A (2) $ 3,970,338.99 April 25, 2036 I-32-B (2) $ 3,970,338.99 April 25, 2036 I-33-A (2) $ 3,815,154.05 April 25, 2036 I-33-B (2) $ 3,815,154.05 April 25, 2036 I-34-A (2) $ 3,666,433.93 April 25, 2036 I-34-B (2) $ 3,666,433.93 April 25, 2036 I-35-A (2) $ 3,523,999.22 April 25, 2036 I-35-B (2) $ 3,523,999.22 April 25, 2036 I-36-A (2) $ 6,569,745.64 April 25, 2036 I-36-B (2) $ 6,569,745.64 April 25, 2036 I-37-A (2) $ 3,102,027.62 April 25, 2036 I-37-B (2) $ 3,102,027.62 April 25, 2036 I-38-A (2) $ 2,984,318.66 April 25, 2036 I-38-B (2) $ 2,984,318.66 April 25, 2036 I-39-A (2) $ 2,871,455.53 April 25, 2036 I-39-B (2) $ 2,871,455.53 April 25, 2036 I-40-A (2) $ 2,763,225.70 April 25, 2036 I-40-B (2) $ 2,763,225.70 April 25, 2036 I-41-A (2) $ 2,659,426.43 April 25, 2036 I-41-B (2) $ 2,659,426.43 April 25, 2036 I-42-A (2) $ 2,559,864.19 April 25, 2036 I-42-B (2) $ 2,559,864.19 April 25, 2036 I-43-A (2) $ 2,464,354.34 April 25, 2036 I-43-B (2) $ 2,464,354.34 April 25, 2036 I-44-A (2) $ 2,372,720.63 April 25, 2036 I-44-B (2) $ 2,372,720.63 April 25, 2036 I-45-A (2) $ 2,284,794.83 April 25, 2036 I-45-B (2) $ 2,284,794.83 April 25, 2036 I-46-B (2) $ 2,200,416.35 April 25, 2036 I-47-A (2) $ 2,119,431.92 April 25, 2036 I-47-B (2) $ 2,119,431.92 April 25, 2036 I-48-A (2) $ 2,041,695.19 April 25, 2036 I-48-B (2) $ 2,041,695.19 April 25, 2036 I-49-A (2) $ 1,967,066.47 April 25, 2036 I-49-B (2) $ 1,967,066.47 April 25, 2036 I-50-A (2) $ 1,895,412.35 April 25, 2036 I-50-B (2) $ 1,895,412.35 April 25, 2036 I-51-A (2) $ 1,826,605.45 April 25, 2036 I-51-B (2) $ 1,826,605.45 April 25, 2036 I-52-A (2) $ 1,760,524.14 April 25, 2036 I-52-B (2) $ 1,760,524.14 April 25, 2036 I-53-A (2) $ 1,697,052.26 April 25, 2036 I-53-B (2) $ 1,697,052.26 April 25, 2036 I-54-A (2) $ 1,636,078.85 April 25, 2036 I-54-B (2) $ 1,636,078.85 April 25, 2036 I-55-A (2) $ 1,577,497.98 April 25, 2036 I-55-B (2) $ 1,577,497.98 April 25, 2036 I-56-A (2) $ 1,521,208.38 April 25, 2036 I-56-B (2) $ 1,521,208.38 April 25, 2036 I-57-A (2) $ 1,467,139.55 April 25, 2036 I-57-B (2) $ 1,467,139.55 April 25, 2036 I-58-A (2) $ 1,415,178.23 April 25, 2036 I-58-B (2) $ 1,415,178.23 April 25, 2036 I-59-A (2) $ 1,365,210.94 April 25, 2036 I-59-B (2) $ 1,365,210.94 April 25, 2036 I-60-A (2) $ 11,292,474.54 April 25, 2036 I-60-B (2) $ 11,292,474.54 April 25, 2036 I-61-A (2) $ 785,203.65 April 25, 2036 I-61-B (2) $ 785,203.65 April 25, 2036 I-62-A (2) $ 764,417.47 April 25, 2036 I-62-B (2) $ 764,417.47 April 25, 2036 I-63-A (2) $ 744,179.02 April 25, 2036 I-63-B (2) $ 744,179.02 April 25, 2036 I-64-A (2) $ 724,473.93 April 25, 2036 I-64-B (2) $ 724,473.93 April 25, 2036 I-65-A (2) $ 705,288.18 April 25, 2036 I-65-B (2) $ 705,288.18 April 25, 2036 I-66-A (2) $ 686,608.12 April 25, 2036 I-66-B (2) $ 686,608.12 April 25, 2036 I-67-A (2) $ 668,420.52 April 25, 2036 I-67-B (2) $ 668,420.52 April 25, 2036 I-68-A (2) $ 650,712.39 April 25, 2036 I-68-B (2) $ 650,712.39 April 25, 2036 I-69-A (2) $ 633,471.16 April 25, 2036 I-69-B (2) $ 633,471.16 April 25, 2036 I-70-A (2) $ 616,684.58 April 25, 2036 I-70-B (2) $ 616,684.58 April 25, 2036 I-71-A (2) $ 600,340.67 April 25, 2036 I-71-B (2) $ 600,340.67 April 25, 2036 I-72-A (2) $ 21,905,664.84 April 25, 2036 I-72-B (2) $ 21,905,664.84 April 25, 2036 II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.(2) $ 145,226,751.56 April 25, 2036 P (2) $ 100.00 April 25, 2036
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Opteum Mortgage Acceptance CORP Trust 2006-1)
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified) and the Swap Agreement to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView Mortgage asset-backed certificates designated as Nomura Home Equity Loan, Inc., Home Equity Loan Trust 2005-5 Mortgage Loan Pass-Through CertificatesTrust, Series 20052006-5 HE3, Asset-Backed Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen (19) classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for Series 2006-HE3, designated dated as of August 1, 2006 (i) the Class 1-A-1A Certificates“Pooling and Servicing Agreement”), among the Purchaser, as depositor, W▇▇▇▇ Fargo Bank, N.A. as master servicer and securities administrator (ii) the Class 1-A-1B Certificates“W▇▇▇▇ Fargo”), Ocwen Loan Servicing, LLC as a servicer (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi“Ocwen”), the Class A-R-II CertificatesSeller as sponsor, and HSBC Bank USA, National Association as trustee (xii) the “Trustee”). The Purchaser will sell the Class P CertificatesI-A-1, (xiii) the Class II-A-1, Class II-A-2, Class II-A-3, Class II-A-4, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9, Class B-1 Certificates, (xiv) the and Class B-2 CertificatesCertificates to Nomura Securities International, Inc. (xv“NSII”) and Greenwich Capital Markets, Inc. (“Greenwich”, together with NSII, the Class B-3 Certificates“Underwriters”), pursuant to the Amended and Restated Underwriting Agreement, dated June 1, 2006, between the Purchaser and NSII, and the Terms Agreement, dated August 29, 2006 (xvicollectively, the “Underwriting Agreement”), among the Purchaser and the Underwriters. Capitalized terms used but not defined herein shall have the meanings set forth in the Pooling and Servicing Agreement. Pursuant to the custodial agreement, dated as of August 1, 2006 (the “Custodial Agreement”), among the Trustee, Ocwen, W▇▇▇▇ Fargo as a servicer (together with Ocwen, each individually a “Servicer” and together, the “Servicers”) and W▇▇▇▇ Fargo as custodian (the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein“Custodian”), the Trustee shall elect that intends to have the Trust Fund (exclusive Custodian take possession of the assets held Mortgages and Mortgage Notes, along with certain other documents specified in the Basis Risk Reserve Fund and Custodial Agreement, as the Yield Maintenance Account and custodian of the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” orTrustee, in accordance with the alternative, the “Lower-Tier REMIC” terms and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04conditions thereof. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold parties hereto agree as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 1 contract
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView DSLA Mortgage Loan Trust 2005-5 AR4 DSLA Mortgage Loan Pass-Through Certificates, Series 2005-5 AR4 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen eighteen classes of certificates, designated as (i) the Class 1-A-1A A Certificates, (ii) the Class 12-A-1B A1A Certificates, (iii) the Class 2-A-1A A1B Certificates, (iv) the Class 2-A-1B A1C Certificates, (v) the Class 2-A-1C A1D Certificates, (vi) the Class X-1 2-A2 Certificates, (vii) the Class X-2 X-1 Certificates, (viii) the Class PO-1 CertificatesX-2, (ix) the Class PO-2 Certificates, PO Certificates (x) the Class A-R Certificate, (xi) the Class B-1 Certificates, (xi)xii) the Class B-2 Certificates, (xiii) the Class B-3 Certificates, (xiv) the Class B-4 Certificates, (xv) the Class B-5 Certificates, (xvi) the Class B-6 Certificates, (xvii) the Class B-7 Certificates and (xviii) the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesCertificate. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and Fund, the Yield Maintenance Account Account, and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC,” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1BA, Class 2-A-1AA1A, Class 2-A-1BA1B, Class 2-A-1CA1C, Class 2-A1D, Class 2-A2, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 B-6, and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04Shortfalls. The owners of the Class X-1 and Class X-2 Certificates beneficially own Certificates, in addition to representing beneficial ownership of REMIC regular interests, also represent beneficial ownership of the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the ownership of the sole class of residual interest in each of the UpperMiddle-Tier REMIC and the Upper-Tier REMIC. The Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier any REMIC formed hereby. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC InterestsInterests in the Lower-Tier REMIC, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each and each such Lower-Tier Interest is hereby designated as a regular interest in the Lower-Tier REMIC. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests in the Middle-Tier REMIC, other than the Class MT-R Interest, and each such Middle-Tier Interest is hereby designated as a regular interestinterest in the Middle-Tier REMIC.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (DSLA Mortgage Loan Trust 2005-Ar4)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 7 Mortgage Loan Pass-Through Certificates, Series 2005-5 7 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-four classes of certificates, designated as (i) the Class 1-A-1A A1 Certificates, (ii) the Class 1-A-1B A2 Certificates, (iii) the Class 2-A-1A A1 Certificates, (iv) the Class 2-A-1B A2A Certificates, (v) the Class 2-A-1C A2B Certificates, (vi) the Class X-1 1-X Certificates, (vii) the Class X-2 2-X Certificates, (viii) the Class PO-1 1-PO Certificates, (ix) the Class PO-2 2-PO Certificates, (x) the Class A-R Certificates, (xi)) the Class 1-B1 Certificates, (xii) the Class 1-B2 Certificates, (xiii) the Class 1-B3 Certificates, (xiv) the Class 1-B4 Certificates, (xv) the Class 1-B5 Certificates, (xvi) the Class 1-B6 Certificates, (xvii) the Class 2-B1 Certificates, (xviii) the Class 2-B2 Certificates, (xix) the Class 2-B3 Certificates, (xx) the Class 2-B4 Certificates, (xxi) the Class 2-B5 Certificates, (xxii) the Class 2-B6 Certificates, (xxiii) the Class A-R-II Certificates, Certificates and (xiixxiv) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Group 1 and Group 2 Basis Risk Reserve Fund Funds and the Yield Maintenance Account and the Yield Maintenance AgreementsAgreements (collectively, the “Excluded Trust Property”) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-RAR-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 COFI and Class B-7 LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Group 1 and Group 2 Basis Risk Reserve Fund Funds as provided in Section 5.07 and (ii) the Class 12-A-1A, Class 1-A-1BA1, Class 2-A-1A, Class 2-A-1BA2A, and Class 2-A-1C A2B Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 1-X Certificates beneficially own the Group 1 Basis Risk Reserve Fund and the owners of the Class 2-X Certificates beneficially own the Group 2 Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC and the Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Excluded Trust Property and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The following table specifies the Class designation, interest rate, and initial Class Principal Amount for each Class of Lower-Tier REMIC Interest: LT1-A1 (1) $ 104,576,050.00 Class 1-A1 & A-R LT1-A2 (1) $ 26,144,500.00 Class 1-A2 LT1B-6 (1) $ 643,116.06 Class 1-B-6 LT1Q (1) $ 136,925,537.41 N/A LT1Z (1) $ 2,852,614.32 N/A LT1Y (1) $ 2,852,614.32 N/A LT2-A1 (2) $ 138,132,500.00 Class 2-A1 LT2-A2A (2) $ 61,214,500.00 Class 2-A1A LT2-A2B (2) $ 30,874,500.00 Class 2-A1B LT2B-1 (2) $ 6,012,500.00 Class 2-B-1 LT2B-2 (2) $ 4,759,500.00 Class 2-B-2 LT2B-3 (2) $ 3,507,000.00 Class 2-B-3 LT2B-4 (2) $ 3,131,000.00 Class 2-B-4 LT2B-5 (2) $ 1,628,000.00 Class 2-B-5 LT2B-6 (2) $ 1,253,785.56 Class 2-B-6 LT2Q (2) $ 240,492,852.13 N/A LT2Z (2) $ 5,010,266.71 N/A LT2Y (2) $ 5,010,266.71 N/A LT-R (2) (2) Class A-R-II __________________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2005-7)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass‑through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderTrust. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1I-A-1A A Certificates, (ii) the Class 1II-A-1B A1 Certificates, (iii) the Class 2II-A-1A A2 Certificates, (iv) the Class 2II-A-1B A3 Certificates, (v) the Class 2-A-1C II‑A4 Certificates, (vi) the Class X-1 M‑1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M‑4 Certificates, (x) the Class A-R M‑5 Certificates, (xi), ) the Class A-R-II M‑6 Certificates, (xii) the Class P M‑7 Certificates, (xiii) the Class B-1 M‑8 Certificates, (xiv) the Class B-2 M‑9 Certificates, (xv) the Class B-3 M-10 Certificates, (xvi) the Class B-4 M-11 Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 Certificates and P Certificates, (xix) the Class B-7 R Certificates, (xx) the Class R‑CX Certificates and (xxi) the Class R‑PX Certificates. As provided herein, the Trustee shall elect that make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Reserve Fund, the Basis Risk Supplemental Interest Trust, the Final Maturity Reserve Fund Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsServicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R‑1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as comprising two real estate mortgage investment conduits (eachdefined herein) under federal income tax law. The following table irrevocably sets forth the designation, a “REMIC” orthe Uncertificated REMIC 1 Pass‑Through Rate, in the alternativeinitial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G‑1(a)(4)(iii), the “Lowerlatest possible maturity date” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass‑Through Rate Rate Change Date Assumed Final Maturity Date1 IX3 $ 69,055,533.90 Variable2 N/A September 2046 I-5-Tier REMICB 809,527.24 Variable2 September 2046 I-11-B 4,962,685.80 Variable2 September 2046 I-13-B 5,260,790.23 Variable2 September 2046 I-14-B 5,108,881.09 Variable2 September 2046 I-18-B 5,350,858.39 Variable2 September 2046 I-21-B 4,423,276.85 Variable2 September 2046 I-22-B 38,627,646.06 Variable2 September 2046 I-23-B 5,398,719.47 Variable2 September 2046 I-24-B 5,782,309.39 Variable2 September 2046 I-25-B 4,756,253.02 Variable2 September 2046 I-26-A 3,670,650.79 Variable2 November 2008 September 2046 I-26-B 3,670,650.79 Variable2 September 2046 I-27-A 3,028,452.45 Variable2 December 2008 September 2046 I-27-B 3,028,452.45 Variable2 September 2046 I-28-B 2,610,073.37 Variable2 September 2046 I-29-A 2,310,421.80 Variable2 February 2009 September 2046 I-29-B 2,310,421.80 Variable2 September 2046 I-30-B 1,974,020.47 Variable2 September 2046 I-34-B 2,173,428.98 Variable2 September 2046 I-35-B 2,132,749.37 Variable2 September 2046 I-36-A 779,569.33 Variable2 September 2009 September 2046 I-36-B 779,569.33 Variable2 September 2046 I-38-B 1,588,609.32 Variable2 September 2046 I-39-A 1,535,261.76 Variable2 December 2009 September 2046 I-39-B 1,535,261.76 Variable2 September 2046 I-40-B 1,473,266.51 Variable2 September 2046 I-41-B 1,431,467.73 Variable2 September 2046 I-42-A 1,344,435.95 Variable2 March 2010 September 2046 I-42-B 1,344,435.95 Variable2 September 2046 I-43-A 1,242,297.71 Variable2 April 2010 September 2046 I-44-A 1,012,984.03 Variable2 May 2010 September 2046 I-44-B 1,012,984.03 Variable2 September 2046 I-45-A 970,865.81 Variable2 June 2010 September 2046 I-45-B 970,865.81 Variable2 September 2046 I-47-B 899,495.38 Variable2 September 2046 I-48-B 856,459.15 Variable2 September 2046 I-49-A 805,765.34 Variable2 October 2010 September 2046 I-49-B 805,765.34 Variable2 September 2046 I-50-A 890,746.41 Variable2 November 2010 September 2046 I-50-B 890,746.41 Variable2 September 2046 I-51-A 885,985.03 Variable2 December 2010 September 2046 I-51-B 885,985.03 Variable2 September 2046 I-52-A 822,331.60 Variable2 January 2011 September 2046 I-52-B 822,331.60 Variable2 September 2046 I-53-B 780,114.76 Variable2 September 2046 I-54-A 803,777.96 Variable2 March 2011 September 2046 I-54-B 803,777.96 Variable2 September 2046 I-55-A 724,199.80 Variable2 April 2011 September 2046 I-55-B 724,199.80 Variable2 September 2046 I-56-A 766,582.93 Variable2 May 2011 September 2046 I-56-B 766,582.93 Variable2 September 2046 I-57-A 704,101.11 Variable2 June 2011 September 2046 I-57-B 704,101.11 Variable2 September 2046 I-58-A 630,308.64 Variable2 July 2011 September 2046 I-58-B 630,308.64 Variable2 September 2046 IIX3 178,464,568.91 Variable2 N/A September 2046 II-1-B 4,236,495.26 Variable2 September 2046 II-2-B 4,985,283.67 Variable2 September 2046 II-3-B 5,727,381.46 Variable2 September 2046 II-4-B 6,459,568.24 Variable2 September 2046 II-6-B 2,967,674.49 Variable2 September 2046 II-8-A 5,354,481.01 Variable2 May 2007 September 2046 II-8-B 5,354,481.01 Variable2 September 2046 II-10-B 8,248,277.53 Variable2 September 2046 II-11-B 12,825,381.70 Variable2 September 2046 II-12-B 13,487,190.30 Variable2 September 2046 II-13-A 13,595,791.77 Variable2 October 2007 September 2046 II-13-B 13,595,791.77 Variable2 September 2046 II-14-B 13,203,203.41 Variable2 September 2046 II-15-B 16,502,150.82 Variable2 September 2046 II-16-B 15,857,809.06 Variable2 September 2046 II-17-B 14,642,120.27 Variable2 September 2046 II-18-A 13,828,560.61 Variable2 March 2008 September 2046 II-18-B 13,828,560.61 Variable2 September 2046 II-19-A 12,943,845.16 Variable2 April 2008 September 2046 II-19-B 12,943,845.16 Variable2 September 2046 II-20-A 12,159,168.81 Variable2 May 2008 September 2046 II-20-B 12,159,168.81 Variable2 September 2046 II-21-B 11,431,353.15 Variable2 September 2046 II-22-B 99,827,860.44 Variable2 September 2046 II-23-B 13,952,251.03 Variable2 September 2046 II-24-A 14,943,586.61 Variable2 September 2008 September 2046 II-24-B 14,943,586.61 Variable2 September 2046 II-25-A 12,291,884.48 Variable2 October 2008 September 2046 II-25-B 12,291,884.48 Variable2 September 2046 II-26-A 9,486,294.21 Variable2 November 2008 September 2046 II-26-B 9,486,294.21 Variable2 September 2046 II-27-A 7,826,620.55 Variable2 December 2008 September 2046 II-27-B 7,826,620.55 Variable2 September 2046 II-28-A 6,745,377.13 Variable2 January 2009 September 2046 II-28-B 6,745,377.13 Variable2 September 2046 II-29-A 5,970,968.70 Variable2 February 2009 September 2046 II-29-B 5,970,968.70 Variable2 September 2046 II-30-A 5,101,585.53 Variable2 March 2009 September 2046 II-30-B 5,101,585.53 Variable2 September 2046 II-32-A 4,701,168.08 Variable2 May 2009 September 2046 II-32-B 4,701,168.08 Variable2 September 2046 II-33-A 4,513,387.04 Variable2 June 2009 September 2046 II-33-B 4,513,387.04 Variable2 September 2046 II-34-A 5,616,929.52 Variable2 July 2009 September 2046 II-34-B 5,616,929.52 Variable2 September 2046 II-35-A 5,511,798.63 Variable2 August 2009 September 2046 II-35-B 5,511,798.63 Variable2 September 2046 II-36-A 2,014,690.17 Variable2 September 2009 September 2046 II-36-B 2,014,690.17 Variable2 September 2046 II-37-A 3,098,748.05 Variable2 October 2009 September 2046 II-37-B 3,098,748.05 Variable2 September 2046 II-38-A 4,105,543.18 Variable2 November 2009 September 2046 II-38-B 4,105,543.18 Variable2 September 2046 II-39-A 3,967,673.74 Variable2 December 2009 September 2046 II-39-B 3,967,673.74 Variable2 September 2046 II-40-A 3,807,455.49 Variable2 January 2010 September 2046 II-40-B 3,807,455.49 Variable2 September 2046 II-41-A 3,699,432.27 Variable2 February 2010 September 2046 II-41-B 3,699,432.27 Variable2 September 2046 II-42-A 3,474,510.55 Variable2 March 2010 September 2046 II-42-B 3,474,510.55 Variable2 September 2046 II-43-A 3,210,548.29 Variable2 April 2010 September 2046 II-43-B 3,210,548.29 Variable2 September 2046 II-44-A 2,617,918.47 Variable2 May 2010 September 2046 II-44-B 2,617,918.47 Variable2 September 2046 II-45-A 2,509,069.69 Variable2 June 2010 September 2046 II-45-B 2,509,069.69 Variable2 September 2046 II-47-A 2,324,622.62 Variable2 August 2010 September 2046 II-47-B 2,324,622.62 Variable2 September 2046 II-48-A 2,213,401.35 Variable2 September 2010 September 2046 II-48-B 2,213,401.35 Variable2 September 2046 II-49-A 2,082,390.16 Variable2 October 2010 September 2046 II-49-B 2,082,390.16 Variable2 September 2046 II-50-A 2,302,012.09 Variable2 November 2010 September 2046 II-50-B 2,302,012.09 Variable2 September 2046 II-51-B 2,289,706.97 Variable2 September 2046 II-52-A 2,125,203.40 Variable2 January 2011 September 2046 II-52-B 2,125,203.40 Variable2 September 2046 II-53-A 2,016,099.74 Variable2 February 2011 September 2046 II-53-B 2,016,099.74 Variable2 September 2046 II-54-A 2,077,254.04 Variable2 March 2011 September 2046 II-54-B 2,077,254.04 Variable2 September 2046 II-55-A 1,871,595.20 Variable2 April 2011 September 2046 II-55-B 1,871,595.20 Variable2 September 2046 II-56-A 1,981,128.57 Variable2 May 2011 September 2046 II-56-B 1,981,128.57 Variable2 September 2046 II-57-A 1,819,652.89 Variable2 June 2011 September 2046 II-57-B 1,819,652.89 Variable2 September 2046 II-58-A 1,628,946.36 Variable2 July 2011 September 2046 II-58-B 1,628,946.36 Variable2 September 2046 II-59-A 23,940,936.99 Variable2 August 2011 September 2046 II-59-B 23,940,936.99 Variable2 September 2046 1 Solely for purposes of Section 1.860G‑1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass‑Through Rate” herein. 3 REMIC 1 Regular Interest IX will be entitled to all prepayment penalties or charges with respect to the Group I Mortgage Loans; REMIC 1 Regular Interest IIX will be entitled to all prepayment penalties or charges with respect to the Group II Mortgage Loans. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “UpperREMIC 2.” The Class R‑2 Interest shall represent the sole class of “residual interests” in REMIC 2 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 2 Pass-Tier REMIC”Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 2 Regular Interests. Each Certificate, other than None of the Class REMIC 2 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 2 Pass-Through Rate Assumed Final Maturity Date1 AA $782,339,394.81 Variable2 September 2046 A-R Certificate and the Class IA 1,800,695.00 Variable2 September 2046 A-RIIA1 2,045,840.00 Variable2 September 2046 A-II CertificateIIA2 711,390.00 Variable2 September 2046 A-IIA3 1,431,045.00 Variable2 September 2046 A-IIA4 465,345.00 Variable2 September 2046 M1 255,460.00 Variable2 September 2046 M2 239,490.00 Variable2 September 2046 M3 147,685.00 Variable2 September 2046 M4 131,720.00 Variable2 September 2046 M5 127,730.00 Variable2 September 2046 M6 103,780.00 Variable2 September 2046 M7 79,830.00 Variable2 September 2046 M8 79,830.00 Variable2 September 2046 M9 55,880.00 Variable2 September 2046 M10 55,880.00 Variable2 September 2046 M11 79,830.00 Variable2 September 2046 ZZ 8,154,680.10 Variable2 September 2046 1GRP 44,543.79 Variable2 September 2046 1SUB 8,529.89 Variable2 September 2046 2GRP 22,044.91 Variable2 September 2046 2SUB 115,117.31 Variable2 September 2046 Swap IO N/A3 Variable2 September 2046 FMR IO N/A4 Variable2 September 2046 XX 798,115,269.00 Variable2 September 2046 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, shall represent ownership of a regular interest the Distribution Date in the Uppermonth following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 2 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 2 Pass-Tier REMIC, as described Through Rate” herein. In addition3 REMIC 2 Regular Interest Swap IO will not have a principal amount but will at all times have a notional amount equal to the aggregate principal amounts of the REMIC 1 Regular Interests with the designation “A”. 4 REMIC 2 Regular Interest FMR IO will not have a principal amount but will at all times have a notional amount equal to the aggregate principal amounts of all of the REMIC 1 Regular Interests. As provided herein, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent Trustee shall make an election to treat the right to receive payments in respect segregated pool of Basis Risk Shortfalls from assets consisting of the Basis Risk Reserve Fund REMIC 2 Regular Interests as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Ba REMIC for federal income tax purposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets shall be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 3.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate R‑3 Interest represents the sole class of “residual interest interests” in REMIC 3 for purposes of the REMIC Provisions. The following table sets forth (or describes) the Class designation, Pass-Through Rate and Original Class Certificate Principal Balance for each Class of Certificates that represents one or more of the “regular interests” in REMIC 3 and each class of uncertificated “regular interests” in REMIC 3: I‑A $360,139,000.00 Variable2 September 2046 II-A1 409,168,000.00 Variable2 September 2046 II-A2 142,278,000.00 Variable2 September 2046 II-A3 286,209,000.00 Variable2 September 2046 II-A4 93,069,000.00 Variable2 September 2046 M‑1 51,092,000.00 Variable2 September 2046 M‑2 47,898,000.00 Variable2 September 2046 M‑3 29,537,000.00 Variable2 September 2046 M‑4 26,344,000.00 Variable2 September 2046 M‑5 25,546,000.00 Variable2 September 2046 M‑6 20,756,000.00 Variable2 September 2046 M‑7 15,966,000.00 Variable2 September 2046 M‑8 15,966,000.00 Variable2 September 2046 M‑9 11,176,000.00 Variable2 September 2046 M-10 11,176,000.00 Variable2 September 2046 M‑11 15,966,000.00 Variable2 September 2046 Swap IO N/A Variable5 September 2046 FM Reserve IO N/A Variable5 September 2046 Class C Interest3 34,324,909.81 Variable2 September 2046 Class P Interest $100.00 N/A4 September 2046 ___________________ 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Uppermonth following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each Class of Certificates or uncertificated interests that represents one or more of the “regular interests” in REMIC 3. 2 Calculated in accordance with the definition of “Pass-Tier Through Rate” herein. 3 The Class C Interest will accrue interest at its variable Pass-Through Rate on its Notional Amount outstanding from time to time, which shall equal the aggregate of the Uncertificated Principal Balances of the REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC2 Regular Interests. The Lower-Tier REMIC shall hold as assets all property Class C Interest will not accrue interest on its Uncertificated Principal Balance. 4 The Class P Interest will not accrue interest. 5 The interests designated “Swap IO” and “FM Reserve IO” will not have principal amounts or interest rates but will be entitled to 100% of the Trust Fund other than the assets held in the Basis Risk Reserve Fundinterest paid on REMIC 2 Regular Interests Swap IO and FMR IO, the Yield Maintenance Account, the Yield Maintenance Agreements, and the respectively. These interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall will not be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interestcertificated.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-7)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty one classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B A-4 Certificates, (v) the Class 2-A-1C M-1 Certificates, (vi) the Class X-1 M-2 Certificates, (vii) the Class X-2 M-3 Certificates, (viii) the Class PO-1 M-4 Certificates, (ix) the Class PO-2 M-5 Certificates, (x) the Class A-R M-6 Certificates, (xi), ) the Class A-R-II M-7 Certificates, (xii) the Class P M-8 Certificates, (xiii) the Class B-1 M-9 Certificates, (xiv) the Class B-2 M-10 Certificates, (xv) the Class B-3 M-11 Certificates, (xvi) the Class B-4 M-12 Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 Certificates and P Certificates, (xix) the Class B-7 R Certificates and (xx) the Class R-X Certificates. As provided herein, the Trustee shall elect that will make an election to treat the Trust Fund segregated pool of assets consisting of the Group I Mortgage Loans, the Group II Mortgage Loans and certain other related assets subject to this Agreement (but exclusive of the assets held in Net WAC Rate Carryover Reserve Account, the Basis Risk Reserve Fund and Master Servicer Prepayment Charge Payment Amounts, the Yield Maintenance Interest Coverage Account, the Swap Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a real estate investment conduit (a “REMIC”) for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not R-1 Interest will represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions under federal income tax law. The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests. None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the LowerREMIC 1 Regular Interests will be certificated. I-1-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated LowerB Variable $ 9,290,151.64 November 2035 I-2-Tier REMIC Interests, other than the Class LTA Variable $ 11,097,571.46 November 2035 I-2-R Interest, ownership of which shall be evidenced by the Class AB Variable $ 11,097,571.46 November 2035 I-3-RB Variable $ 12,884,895.21 November 2035 I-4-II Certificate. Each such LowerB Variable $ 14,643,735.33 November 2035 I-5-Tier Interest is hereby designated as a REMIC regular interest.A Variable $ 16,364,029.36 November 2035 I-5-B Variable $ 16,364,029.36 November 2035 I-6-A Variable $ 18,036,032.89 November 2035 I-6-B Variable $ 18,036,032.89 November 2035 I-7-A Variable $ 19,649,898.60 November 2035 I-7-B Variable $ 19,649,898.60 November 2035 I-8-A Variable $ 21,195,830.08 November 2035 I-8-B Variable $ 21,195,830.08 November 2035 I-9-A Variable $ 22,664,150.14 November 2035 I-9-B Variable $ 22,664,150.14 November 2035 I-10-A Variable $ 24,040,720.65 November 2035 I-10-B Variable $ 24,040,720.65 November 2035 I-11-A Variable $ 24,985,439.45 November 2035 I-11-B Variable $ 24,985,439.45 November 2035 I-12-A Variable $ 25,773,669.19 November 2035 I-12-B Variable $ 25,773,669.19 November 2035 I-13-A Variable $ 26,479,760.65 November 2035 I-13-B Variable $ 26,479,760.65 November 2035 I-14-A Variable $ 27,098,101.21 November 2035 I-14-B Variable $ 27,098,101.21 November 2035 I-15-A Variable $ 27,623,771.23 November 2035 I-15-B Variable $ 27,623,771.23 November 2035 I-16-A Variable $ 28,052,508.34 November 2035 I-16-B Variable $ 28,052,508.34 November 2035 I-17-A Variable $ 28,380,726.96 November 2035 I-17-B Variable $ 28,380,726.96 November 2035 I-18-A Variable $ 28,605,727.66 November 2035 I-18-B Variable $ 28,605,727.66 November 2035 I-19-A Variable $ 28,725,298.35 November 2035 I-19-B Variable $ 28,725,298.35 November 2035 I-20-A Variable $ 28,737,978.06 November 2035 I-20-B Variable $ 28,737,978.06 November 2035 I-21-A Variable $ 28,643,233.90 November 2035 I-21-B Variable $ 28,643,233.90 November 2035 I-22-B Variable $ 28,433,299.30 November 2035 I-23-A Variable $ 26,797,776.75 November 2035 I-23-B Variable $ 26,797,776.75 November 2035 I-24-A Variable $ 25,280,895.43 November 2035 I-24-B Variable $ 25,280,895.43 November 2035 I-25-A Variable $ 23,853,628.18 November 2035 I-25-B Variable $ 23,853,628.18 November 2035 I-26-A Variable $ 22,509,559.50 November 2035 I-26-B Variable $ 22,509,559.50 November 2035 I-27-A Variable $ 21,243,755.83 November 2035 I-27-B Variable $ 21,243,755.83 November 2035 I-28-A Variable $ 20,051,578.73 November 2035 I-28-B Variable $ 20,051,578.73 November 2035 I-29-A Variable $ 18,928,607.50 November 2035 I-29-B Variable $ 18,928,607.50 November 2035 I-30-A Variable $ 17,870,787.08 November 2035 I-30-B Variable $ 17,870,787.08 November 2035 I-32-B Variable $ 15,935,605.04 November 2035 I-33-A Variable $ 15,051,145.14 November 2035 I-33-B Variable $ 15,051,145.14 November 2035 I-34-A Variable $ 14,217,545.79 November 2035 I-34-B Variable $ 14,217,545.79 November 2035 I-35-A Variable $ 13,431,020.73 November 2035 I-35-B Variable $ 13,431,020.73 November 2035 I-36-A Variable $ 12,691,027.83 November 2035 I-36-B Variable $ 12,691,027.83 November 2035 I-37-A Variable $ 11,993,631.98 November 2035 I-37-B Variable $ 11,993,631.98 November 2035 I-38-A Variable $ 11,336,274.36 November 2035 I-38-B Variable $ 11,336,274.36 November 2035 I-39-A Variable $ 10,716,599.64 November 2035 I-39-B Variable $ 10,716,599.64 November 2035 I-40-A Variable $ 10,132,392.80 November 2035 I-40-B Variable $ 10,132,392.80 November 2035 I-41-A Variable $ 9,581,570.75 November 2035 I-41-B Variable $ 9,581,570.75 November 2035 I-42-A Variable $ 9,062,174.36 November 2035 I-42-B Variable $ 9,062,174.36 November 2035 I-43-A Variable $ 8,572,361.14 November 2035 I-43-B Variable $ 8,572,361.14 November 2035 I-44-A Variable $ 8,110,398.11 November 2035 I-44-B Variable $ 8,110,398.11 November 2035 I-45-A Variable $ 7,674,655.39 November 2035 I-45-B Variable $ 7,674,655.39 November 2035 I-46-B Variable $ 7,263,599.86 November 2035 I-47-A Variable $ 6,875,789.56 November 2035 I-47-B Variable $ 6,875,789.56 November 2035 I-48-A Variable $ 6,509,868.05 November 2035 I-48-B Variable $ 6,509,868.05 November 2035 I-49-A Variable $ 6,164,559.40 November 2035 I-49-B Variable $ 6,164,559.40 November 2035 I-50-A Variable $ 5,838,663.38 November 2035 I-50-B Variable $ 5,838,663.38 November 2035 I-51-A Variable $ 5,531,050.81 November 2035 I-51-B Variable $ 5,531,050.81 November 2035 I-52-A Variable $ 5,240,659.47 November 2035 I-52-B Variable $ 5,240,659.47 November 2035 I-53-A Variable $ 104,532,091.24 November 2035 I-53-B Variable $ 104,532,091.24 November 2035
Appears in 1 contract
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView DSLA Mortgage Loan Trust 2005-5 AR5 DSLA Mortgage Loan Pass-Through Certificates, Series 2005-5 AR5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen sixteen classes of certificates, designated as (i) the Class 1-A-1A A1A Certificates, (ii) the Class 1-A-1B A1B Certificates, (iii) the Class 2-A-1A A1A Certificates, (iv) the Class 2-A-1B A1B Certificates, (v) the Class 2-A-1C X-1 Certificates, (vi) the Class X-1 X-2 Certificates, (vii) the Class X-2 Certificates, PO Certificates (viii) the Class PO-1 CertificatesA-R Certificate, (ix) the Class PO-2 B-1 Certificates, (x) the Class A-R B-2 Certificates, (xi)) the Class B-3 Certificates, (xii) the Class B-4 Certificates, (xiii) the Class B-5 Certificates, (xiv) the Class B-6 Certificates, (xv) the Class B-7 Certificates and (xvi) the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesCertificate. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and Fund, the Yield Maintenance Account Account, and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC,” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1AA1A, Class 1-A-1BA1B, Class 2-A-1AA1A, Class 2-A-1B, Class 2-A-1CA1B, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 B-6, and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04Shortfalls. The owners of the Class X-1 and Class X-2 Certificates beneficially own Certificates, in addition to representing beneficial ownership of REMIC regular interests, also represent beneficial ownership of the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the ownership of the sole class of residual interest in each of the UpperMiddle-Tier REMIC and the Upper-Tier REMIC. The Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier any REMIC formed hereby. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC InterestsInterests in the Lower-Tier REMIC, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each and each such Lower-Tier Interest is hereby designated as a regular interest in the Lower-Tier REMIC. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests in the Middle-Tier REMIC, other than the Class MT-R Interest, and each such Middle-Tier Interest is hereby designated as a regular interestinterest in the Middle-Tier REMIC.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Dsla Mortgage Loan Trust 2005-Ar5)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-five classes of certificates, designated as (i) the Class 1-A-1A A-1-1 Certificates, (ii) the Class 1-A-1B A-1-2 Certificates, (iii) the Class 21-A-1A A-2A Certificates, (iv) the Class 21-A-1B A-2B Certificates, (v) the Class 21-A-1C Certificates, (viA-2C Certificates,(vi) the Class X-1 2-A-1 Certificates, (vii) the Class X-2 2-A-2 Certificates, (viii) the Class PO-1 1-M-1 Certificates, (ix) the Class PO-2 1-M-2 Certificates, (x) the Class A1-R M-3 Certificates, (xi), ) the Class A1-R-II M-4 Certificates, (xii) the Class P 1-M-5 Certificates, (xiii) the Class B-1 1-M-6 Certificates, (xiv) the Class B-2 1-M-7 Certificates, (xvx) the Class B-3 1-M-8 Certificates, (xvixi) the Class B-4 2-M-1 Certificates, (xviixii) the Class B-5 2-M-2 Certificates, (xviiixiii) the Class B-6 Certificates and 2-M-3 Certificates, (xix) the Class B-7 1-B Certificates, (xx) the Class 2-B Certificates, (xxi) the Class C-R Certificates, (xxii) the Class C-M Certificates, (xxiii) the Class P-R Certificats, (xxiv) the Class P-M Certificates, and (xxv) the Class R Certificates. As provided herein, the Trustee shall will elect that to treat the Trust Fund segregated pool of assets consisting of Loan Group 1 and certain other related assets (exclusive other than the Net WAC Shortfall Reserve Fund, any related Master Servicer Prepayment Charge Payment Amounts and, for the avoidance of doubt, the assets held in Supplemental Interest Trust, the Basis Risk Reserve Fund and the Yield Maintenance Swap Account and the Yield Maintenance AgreementsGroup 1-A-2 Interest Rate Swap Agreement) be treated subject to this Agreement as a REMIC for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents R-1 Interest will be the sole class of residual interest Residual Interests in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the LowerREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated LowerThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-Tier REMIC Interests, other than the Class LTA-1 Variable(2) $ 130,047,000.00 May 2036 1-R Interest, ownership of which shall be evidenced by the Class AA-1-ROC Variable(2) $ 9,654,854.61 May 2036 1-II Certificate. Each such LowerA-1-Tier Interest is hereby designated as a REMIC regular interest.P Variable(2) $ 100.00 May 2036 1-1-A Variable(2) $ 1,219,478.33 May 2036 1-1-B Variable(2) $ 1,219,478.33 May 2036 1-2-A Variable(2) $ 1,689,392.90 May 2036 1-2-B Variable(2) $ 1,689,392.90 May 2036 1-3-A Variable(2) $ 2,161,020.85 May 2036 1-3-B Variable(2) $ 2,161,020.85 May 2036 1-4-A Variable(2) $ 2,631,457.93 May 2036 1-4-B Variable(2) $ 2,631,457.93 May 2036 1-5-A Variable(2) $ 3,097,708.88 May 2036 1-5-B Variable(2) $ 3,097,708.88 May 2036 1-6-A Variable(2) $ 3,556,747.08 May 2036 1-6-B Variable(2) $ 3,556,747.08 May 2036 1-7-A Variable(2) $ 4,005,464.50 May 2036 1-7-B Variable(2) $ 4,005,464.50 May 2036 1-8-A Variable(2) $ 4,440,538.91 May 2036 1-8-B Variable(2) $ 4,440,538.91 May 2036 1-9-A Variable(2) $ 4,859,095.41 May 2036 1-9-B Variable(2) $ 4,859,095.41 May 2036 1-10-A Variable(2) $ 5,137,294.00 May 2036 1-10-B Variable(2) $ 5,137,294.00 May 2036 1-11-A Variable(2) $ 5,358,136.54 May 2036 1-11-B Variable(2) $ 5,358,136.54 May 2036 1-12-A Variable(2) $ 5,425,595.41 May 2036 1-12-B Variable(2) $ 5,425,595.41 May 2036 1-13-A Variable(2) $ 5,261,614.90 May 2036 1-13-B Variable(2) $ 5,261,614.90 May 2036 1-14-A Variable(2) $ 5,102,598.27 May 2036 1-14-B Variable(2) $ 5,102,598.27 May 2036 1-15-A Variable(2) $ 4,948,414.66 May 2036 1-15-B Variable(2) $ 4,948,414.66 May 2036 1-16-A Variable(2) $ 4,798,797.43 May 2036 1-16-B Variable(2) $ 4,798,797.43 May 2036 1-17-A Variable(2) $ 4,653,731.96 May 2036 1-17-B Variable(2) $ 4,653,731.96 May 2036 1-18-A Variable(2) $ 4,512,951.51 May 2036 1-18-B Variable(2) $ 4,512,951.51 May 2036 1-19-A Variable(2) $ 4,376,430.06 May 2036 1-19-B Variable(2) $ 4,376,430.06 May 2036 1-20-A Variable(2) $ 4,244,140.25 May 2036 1-20-B Variable(2) $ 4,244,140.25 May 2036 1-21-A Variable(2) $ 19,707,148.45 May 2036 1-21-B Variable(2) $ 19,707,148.45 May 2036 1-22-A Variable(2) $ 7,767,674.53 May 2036 1-22-B Variable(2) $ 7,767,674.53 May 2036 1-23-A Variable(2) $ 7,531,609.12 May 2036 1-23-B Variable(2) $ 7,531,609.12 May 2036 1-24-A Variable(2) $ 3,050,425.72 May 2036 1-24-B Variable(2) $ 3,050,425.72 May 2036 1-25-A Variable(2) $ 2,958,088.08 May 2036 1-25-B Variable(2) $ 2,958,088.08 May 2036 1-26-A Variable(2) $ 2,868,424.69 May 2036 1-26-B Variable(2) $ 2,868,424.69 May 2036 1-27-A Variable(2) $ 2,781,616.07 May 2036 1-27-B Variable(2) $ 2,781,616.07 May 2036 1-28-A Variable(2) $ 2,697,296.69 May 2036 1-28-B Variable(2) $ 2,697,296.69 May 2036 1-29-A Variable(2) $ 2,615,584.21 May 2036 1-29-B Variable(2) $ 2,615,584.21 May 2036 1-30-A Variable(2) $ 2,536,331.10 May 2036 1-30-B Variable(2) $ 2,536,331.10 May 2036 1-31-A Variable(2) $ 2,459,422.13 May 2036 1-31-B Variable(2) $ 2,459,422.13 May 2036 1-32-A Variable(2) $ 2,384,937.54 May 2036 1-32-B Variable(2) $ 2,384,937.54 May 2036 1-33-A Variable(2) $ 4,266,259.46 May 2036 1-33-B Variable(2) $ 4,266,259.46 May 2036 1-34-A Variable(2) $ 3,159,440.38 May 2036 1-34-B Variable(2) $ 3,159,440.38 May 2036 1-35-A Variable(2) $ 5,017,115.56 May 2036 1-35-B Variable(2) $ 5,017,115.56 May 2036 1-36-A Variable(2) $ 36,172,180.59 May 2036 1-36-B Variable(2) $ 36,172,180.59 May 2036 1-37-A Variable(2) $ 827,402.50 May 2036 1-37-B Variable(2) $ 827,402.50 May 2036 1-38-A Variable(2) $ 802,330.00 May 2036 1-38-B Variable(2) $ 802,330.00 May 2036 1-39-A Variable(2) $ 777,930.00 May 2036 1-39-B Variable(2) $ 777,930.00 May 2036 1-40-A Variable(2) $ 754,337.50 May 2036 1-40-B Variable(2) $ 754,337.50 May 2036 1-41-A Variable(2) $ 731,402.50 May 2036 1-41-B Variable(2) $ 731,402.50 May 2036 1-42-A Variable(2) $ 709,172.50 May 2036 1-42-B Variable(2) $ 709,172.50 May 2036 1-43-A Variable(2) $ 687,667.50 May 2036 1-43-B Variable(2) $ 687,667.50 May 2036 1-44-A Variable(2) $ 666,715.00 May 2036 1-44-B Variable(2) $ 666,715.00 May 2036 1-45-A Variable(2) $ 646,492.50 May 2036 1-45-B Variable(2) $ 646,492.50 May 2036 1-46-A Variable(2) $ 626,802.50 May 2036 1-46-B Variable(2) $ 626,802.50 May 2036 1-47-A Variable(2) $ 607,775.00 May 2036 1-47-B Variable(2) $ 607,775.00 May 2036 1-48-A Variable(2) $ 589,260.00 May 2036 1-48-B Variable(2) $ 589,260.00 May 2036 1-49-A Variable(2) $ 571,322.50 May 2036 1-49-B Variable(2) $ 571,322.50 May 2036 1-50-A Variable(2) $ 553,955.00 May 2036 1-50-B Variable(2) $ 553,955.00 May 2036 1-51-A Variable(2) $ 537,065.00 May 2036 1-51-B Variable(2) $ 537,065.00 May 2036 1-52-A Variable(2) $ 520,720.00 May 2036 1-52-B Variable(2) $ 520,720.00 May 2036 1-53-A Variable(2) $ 504,870.00 May 2036 1-53-B Variable(2) $ 504,870.00 May 2036 1-54-A Variable(2) $ 489,502.50 May 2036 1-54-B Variable(2) $ 489,502.50 May 2036 1-55-A Variable(2) $ 474,592.50 May 2036 1-55-B Variable(2) $ 474,592.50 May 2036 1-56-A Variable(2) $ 460,107.50 May 2036 1-56-B Variable(2) $ 460,107.50 May 2036 1-57-A Variable(2) $ 3,682,367.50 May 2036 1-57-B Variable(2) $ 3,682,367.50 May 2036 1-58-A Variable(2) $ 1,719,787.50 May 2036 1-58-B Variable(2) $ 1,719,787.50 May 2036 1-59-A Variable(2) $ 8,139,465.00 May 2036 1-59-B Variable(2) $ 8,139,465.00 May 2036 1-60-A Variable(2) $ 954,020.00 May 2036 1-60-B Variable(2) $ 954,020.00 May 2036 1-A-2-OC Variable(2) $ 87,073,388.47 May 2036 ___________________
Appears in 1 contract
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twelve classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2II-A-1C A-4 Certificates, (vi) the Class X-1 C Certificates, (vii) the Class X-2 P Certificates, (viii) the Class PO-1 Certificates, R Certificates and (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 X Certificates. As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Basis Risk Reserve Fund Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Certificate Principal Balance Assumed Final Maturity Date(1) I (2) $ 156,488,564.28 February 2038 I-4-II Certificate. Each such LowerB (2) $ 8,363,471.25 February 2038 I-5-Tier Interest is hereby designated as a REMIC regular interest.B (2) $ 9,243,401.25 February 2038 I-8-B (2) $ 11,145,846.25 February 2038 I-11-B (2) $ 9,264,968.75 February 2038 I-18-B (2) $ 8,394,027.50 February 2038 I-20-B (2) $ 17,327,707.50 February 2038 I-24-B (2) $ 6,274,632.50 February 2038 I-25-B (2) $ 6,011,301.25 February 2038 I-26-B (2) $ 5,798,306.25 February 2038 I-27-B (2) $ 5,592,841.25 February 2038 I-29-B (2) $ 5,203,481.25 February 2038 I-30-B (2) $ 5,019,075.00 February 2038 I-33-B (2) $ 4,503,590.00 February 2038 I-34-B (2) $ 4,343,961.25 February 2038 I-38-B (2) $ 1,956,200.00 February 2038 I-39-B (2) $ 1,886,818.75 February 2038 I-41-B (2) $ 1,755,341.25 February 2038 I-42-A (2) $ 1,693,073.75 February 2038 I-42-B (2) $ 1,693,073.75 February 2038 I-43-B (2) $ 1,633,011.25 February 2038 I-44-B (2) $ 1,575,077.50 February 2038 I-45-B (2) $ 1,519,193.75 February 2038 I-47-B (2) $ 1,415,723.75 February 2038 I-48-B (2) $ 1,368,262.50 February 2038 I-49-B (2) $ 1,319,603.75 February 2038 I-50-B (2) $ 1,272,636.25 February 2038 I-51-B (2) $ 1,227,338.75 February 2038 I-52-B (2) $ 1,183,628.75 February 2038 I-55-B (2) $ 1,061,615.00 February 2038 P (2) $ 100.00 February 2038 ___________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Hl1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052006-5 8 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist of nineteen fifteen classes of certificates, designated as (i) the Class 1-A-1A 1A-1 Certificates, (ii) the Class 1-A-1B 2A-1A Certificates, (iii) the Class 2-A-1A 2A-1B Certificates, (iv) the Class 2-A-1B 2A-1C Certificates, (v) the Class 2-A-1C B-1 Certificates, (vi) the Class X-1 B-2 Certificates, (vii) the Class X-2 B-3 Certificates, (viii) the Class PO-1 B-4 Certificates, (ix) the Class PO-2 B-5 Certificates, (x) the Class A-R B-6 Certificates, (xi), ) the Class A-R-II B-7 Certificates, (xii) the Class P B-8 Certificates, (xiii) the Class B-1 C Certificates, (xiv) the Class B-2 Certificates, P Certificates and (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund Fund, the Final Maturity Reserve Trust and the Yield Maintenance Final Maturity Reserve Account and (the Yield Maintenance Agreements“Excluded Trust Property”)) be treated for federal income tax purposes as comprising comprises two real estate mortgage investment conduits (each, REMICs in a “REMIC” or, in the alternative, tiered REMIC structure—the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). .” Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 The LIBOR Certificates also represent the right to receive (i) payments in respect of the Final Maturity Reserve Account and (ii) payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.045.07. The owners of the Class X-1 and Class X-2 C Certificates beneficially own the Basis Risk Reserve Fund Fund, the Final Maturity Reserve Account and the Yield Maintenance AccountFinal Maturity Reserve Trust. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC. The Lower-Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and will issue interests (the “Lower-Tier Regular Interests”) (which will be uncertificated and will represent the regular interests in the Lower-Tier REMIC) and a residual interest (the “Class ALT-R-II Certificate represents R Interest”) which will also be uncertificated and which will represent the sole class of residual interest in the Lower-Tier REMIC. The Trustee will hold the Lower-Tier Regular Interests as assets of the Upper-Tier REMIC. For purposes of the REMIC Provisions, the startup day for the Lower-Tier REMIC shall hold as assets all property and the Upper-Tier REMIC is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. The following table sets forth (or describes) the designation, interest rate, and initial principal balance of each Lower-Tier Interest in the Trust Fund Lower-Tier REMIC, each of which, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests LT-R Lower-Tier Interest) is hereby designated as a regular interest in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets (the uncertificated “Lower-Tier REMIC Regular Interests, other than the Class ): LT-1A-1 (1) $ 180,269,500.00 1A-1 LT-2A-1A (1) $ 211,386,000.00 2A-1A LT-2A-1B (1) $ 88,077,500.00 2A-1B LT-2A-1C (1) $ 52,846,500.00 2A-1C LT-B-1 (1) $ 14,910,000.00 B-▇ ▇▇-▇-▇ (1) $ 12,822,500.00 B-▇ ▇▇-▇-▇ (1) $ 2,982,000.00 B-▇ ▇▇-▇-▇ (1) $ 9,542,500.00 B-▇ ▇▇-▇-▇ (1) $ 4,175,000.00 B-▇ ▇▇-▇-▇ (1) $ 5,964,000.00 B-▇ ▇▇-▇-▇ (1) $ 3,876,500.00 B-▇ ▇▇-▇-▇ (1) $ 4,771,000.00 B-8 LT-Q (1) $ 601,163,746.61 N/A LT-I (2) (2) N/A LT-R Interest, ownership of which shall be evidenced by the Class (3) (3) N/A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Harborview 2006-8)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 10 Mortgage Loan Pass-Through Certificates, Series 2005-5 10 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-two classes of certificates, designated as (i) the Class 1-A-1A A1A Certificates, (ii) the Class 1-A-1B A1B Certificates, (iii) the Class 2-A-1A A1A Certificates, (iv) the Class 2-A-1B A1B Certificates, (v) the Class 2-A-1C A1C1 Certificates, (vi) the Class X-1 2-A1C2 Certificates, (vii) the Class X-2 X Certificates, (viii) the Class PO-1 PO Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), x) the Class A-R-II Certificates, (xi) the Class B-1 Certificates, (xii) the Class P B-2 Certificates, (xiii) the Class B-1 B-3 Certificates, (xiv) the Class B-2 B-4 Certificates, (xv) the Class B-3 B-5 Certificates, (xvi) the Class B-4 B-6 Certificates, (xvii) the Class B-5 B-7 Certificates, (xviii) the Class B-6 Certificates and B-8 Certificates, (xix) the Class B-7 B-9 Certificates, (xx) the Class B-10 Certificates, (xxi) the Class B-11 Certificates and (xxii) the Class B-12 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Prefunding Account, the Basis Risk Reserve Fund Fund, and the Yield Maintenance Account and the Yield Maintenance AgreementsAgreements (collectively, the “Excluded Trust Property”) be treated for federal income tax purposes as comprising two three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1AA1A, Class 1-A-1BA1B, Class 2-A-1AA1A, Class 2-A-1BA1B, Class 2-A1C1 and Class 2-A-1C A1C2 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 X Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC, and the Class A-R Certificates represent ownership of the sole class of residual interest in the Middle-Tier and the Upper-Tier REMICs. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund Fund, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Excluded Trust Property and the interests in the Lower-Tier REMIC and the Middle-Tier REMIC formed hereby. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest. The following table specifies the Class designation, interest rate, and initial principal amount for each Lower-Tier REMIC Interest: LT-Group 1 (1) $ 699,317,501.60 Group 1 LT-Group 1 SCA (1) $ 682,498.50 Group 1 LT-Group 2 (2) $ 1,598,440,000.52 Group 2 LT-Group 2 SCA (2) $ 1,559,999.50 Group 2 LT-R (3) (3) N/A
Appears in 1 contract
Sources: Pooling Agreement (HarborView Mortgage Loan Trust 2005-10)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2II-A-1C A-4 Certificates, (vi) the Class X-1 M-1 Certificates (vii) the Class M-2 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 M-10 Certificates, (xvi) the Class B-4 C Certificates, (xvii) the Class B-5 P Certificates, (xviii) the Class B-6 R Certificates and (xix) the Class B-7 R-X Certificates. As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, the Swap Account, any Servicer Prepayment Charge Payment Amounts, the Supplemental Interest Trust, the Cap Trust, the Interest Rate Cap Agreement, the Cap Account, the Cap Allocation Agreement, the Interest Rate Swap Agreement and the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance AgreementsCap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. I Variable(2) $ 43,038,994.50 July 25, 2037 I-1-RA Variable(2) $ 6,129,095.00 July 25, 2037 I-1-II Certificate. Each such LowerB Variable(2) $ 6,129,095.00 July 25, 2037 I-2-Tier Interest is hereby designated as a REMIC regular interest.B Variable(2) $ 6,812,836.25 July 25, 2037 I-3-A Variable(2) $ 7,466,911.25 July 25, 2037 I-3-B Variable(2) $ 7,466,911.25 July 25, 2037 I-4-A Variable(2) $ 8,081,538.75 July 25, 2037 I-4-B Variable(2) $ 8,081,538.75 July 25, 2037 I-5-B Variable(2) $ 8,481,060.00 July 25, 2037 I-6-B Variable(2) $ 8,170,468.75 July 25, 2037 I-7-A Variable(2) $ 7,869,093.75 July 25, 2037 I-7-B Variable(2) $ 7,869,093.75 July 25, 2037 I-8-B Variable(2) $ 7,578,945.00 July 25, 2037 I-9-B Variable(2) $ 7,299,601.25 July 25, 2037 I-10-A Variable(2) $ 7,030,656.25 July 25, 2037 I-10-B Variable(2) $ 7,030,656.25 July 25, 2037 I-11-A Variable(2) $ 6,771,720.00 July 25, 2037 I-11-B Variable(2) $ 6,771,720.00 July 25, 2037 I-12-B Variable(2) $ 6,522,417.50 July 25, 2037 I-13-A Variable(2) $ 6,282,387.50 July 25, 2037 I-13-B Variable(2) $ 6,282,387.50 July 25, 2037 I-14-B Variable(2) $ 6,051,280.00 July 25, 2037 I-15-B Variable(2) $ 6,072,953.75 July 25, 2037 I-16-B Variable(2) $ 27,762,252.50 July 25, 2037 I-17-B Variable(2) $ 77,904,133.75 July 25, 2037 I-18-A Variable(2) $ 2,824,771.25 July 25, 2037 I-18-B Variable(2) $ 2,824,771.25 July 25, 2037 I-19-A Variable(2) $ 2,266,532.50 July 25, 2037 I-19-B Variable(2) $ 2,266,532.50 July 25, 2037 I-20-B Variable(2) $ 1,969,250.00 July 25, 2037 I-21-B Variable(2) $ 1,368,276.25 July 25, 2037 I-24-B Variable(2) $ 1,231,562.50 July 25, 2037 I-25-B Variable(2) $ 1,189,288.75 July 25, 2037 I-26-B Variable(2) $ 1,148,558.75 July 25, 2037 I-27-A Variable(2) $ 1,109,312.50 July 25, 2037 I-27-B Variable(2) $ 1,109,312.50 July 25, 2037 I-28-A Variable(2) $ 1,401,328.75 July 25, 2037 I-28-B Variable(2) $ 1,401,328.75 July 25, 2037 I-29-A Variable(2) $ 2,757,042.50 July 25, 2037 I-29-B Variable(2) $ 2,757,042.50 July 25, 2037 I-30-A Variable(2) $ 903,043.75 July 25, 2037 I-30-B Variable(2) $ 903,043.75 July 25, 2037 I-32-B Variable(2) $ 845,446.25 July 25, 2037 I-33-A Variable(2) $ 818,115.00 July 25, 2037 I-33-B Variable(2) $ 818,115.00 July 25, 2037 I-34-B Variable(2) $ 791,716.25 July 25, 2037 I-35-A Variable(2) $ 766,212.50 July 25, 2037 I-35-B Variable(2) $ 766,212.50 July 25, 2037 I-36-B Variable(2) $ 741,576.25 July 25, 2037 I-37-B Variable(2) $ 717,772.50 July 25, 2037 I-38-A Variable(2) $ 694,773.75 July 25, 2037 I-38-B Variable(2) $ 694,773.75 July 25, 2037 I-39-A Variable(2) $ 672,548.75 July 25, 2037 I-39-B Variable(2) $ 672,548.75 July 25, 2037 I-40-A Variable(2) $ 651,071.25 July 25, 2037 I-40-B Variable(2) $ 651,071.25 July 25, 2037 I-41-A Variable(2) $ 630,315.00 July 25, 2037 I-41-B Variable(2) $ 630,315.00 July 25, 2037 I-42-A Variable(2) $ 610,253.75 July 25, 2037 I-42-B Variable(2) $ 610,253.75 July 25, 2037 I-43-A Variable(2) $ 590,862.50 July 25, 2037 I-43-B Variable(2) $ 590,862.50 July 25, 2037 I-44-A Variable(2) $ 572,116.25 July 25, 2037 I-44-B Variable(2) $ 572,116.25 July 25, 2037 I-45-A Variable(2) $ 553,995.00 July 25, 2037 I-45-B Variable(2) $ 553,995.00 July 25, 2037 I-47-A Variable(2) $ 519,536.25 July 25, 2037 I-47-B Variable(2) $ 519,536.25 July 25, 2037 I-48-A Variable(2) $ 503,155.00 July 25, 2037 I-48-B Variable(2) $ 503,155.00 July 25, 2037 I-49-A Variable(2) $ 487,316.25 July 25, 2037 I-49-B Variable(2) $ 487,316.25 July 25, 2037 I-50-A Variable(2) $ 471,998.75 July 25, 2037 I-50-B Variable(2) $ 471,998.75 July 25, 2037 I-51-B Variable(2) $ 500,378.75 July 25, 2037 I-52-A Variable(2) $ 755,640.00 July 25, 2037 I-52-B Variable(2) $ 755,640.00 July 25, 2037 I-53-B Variable(2) $ 1,392,298.75 July 25, 2037 I-54-B Variable(2) $ 353,277.50 July 25, 2037 I-55-A Variable(2) $ 343,247.50 July 25, 2037 I-55-B Variable(2) $ 343,247.50 July 25, 2037 I-56-A Variable(2) $ 333,502.50 July 25, 2037 I-56-B Variable(2) $ 333,502.50 July 25, 2037 I-57-A Variable(2) $ 324,031.25 July 25, 2037 I-57-B Variable(2) $ 324,031.25 July 25, 2037 I-58-A Variable(2) $ 314,827.50 July 25, 2037 I-58-B Variable(2) $ 314,827.50 July 25, 2037 I-60-B Variable(2) $ 297,195.00 July 25, 2037 I-61-A Variable(2) $ 288,750.00 July 25, 2037 I-61-B Variable(2) $ 288,750.00 July 25, 2037 I-62-B Variable(2) $ 280,543.75 July 25, 2037 I-63-A Variable(2) $ 272,570.00 July 25, 2037 I-63-B Variable(2) $ 272,570.00 July 25, 2037 I-64-B Variable(2) $ 264,821.25 July 25, 2037 I-65-A Variable(2) $ 257,291.25 July 25, 2037 I-65-B Variable(2) $ 257,291.25 July 25, 2037 I-66-A Variable(2) $ 8,724,053.75 July 25, 2037 I-66-B Variable(2) $ 8,724,053.75 July 25, 2037 P Variable(2) $ 100.00 July 25, 2037 ________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Opt3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderTrust. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1I-A-1A A Certificates, (ii) the Class 1II-A-1B A1 Certificates, (iii) the Class 2II-A-1A A2 Certificates, (iv) the Class 2II-A-1B A3 Certificates, (v) the Class 2II-A-1C A4 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 C Certificates, (xvi) the Class B-4 P Certificates, (xvii) the Class B-5 R Certificates, (xviii) the Class B-6 R-CX Certificates and (xix) the Class B-7 R-PX Certificates. As provided herein, the Trustee shall elect that make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Reserve Fund, the Basis Risk Supplemental Interest Trust, the Final Maturity Reserve Fund and Trust, the Yield Maintenance Interest Coverage Account and the Yield Maintenance AgreementsServicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets will be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. IX $129,509,320.86 Variable2 May 25, 2047 I-1-A $ 1,955,190.52 Variable2 May 25, 2047 I-1-B $ 1,955,190.52 V▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-2-B $ 2,478,702.37 V▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-3-B $ 2,936,857.68 V▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-4-B $ 3,383,948.09 V▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-5-B $ 1,086,748.06 V▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ ▇-▇-▇ $ 1,533,744.66 Variable2 May 25, 2047 I-6-B $ 1,533,744.66 V▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ ▇-▇-▇ $ 1,933,650.21 Variable2 May 25, 2047 I-7-B $ 1,933,650.21 V▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ ▇-▇-▇ $ 2,365,426.69 Variable2 May 25, 2047 I-8-B $ 2,365,426.69 V▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇, ▇▇▇▇ I-9-B $ 3,103,020.97 Variable2 May 25, 2047 I-10-B $ 4,330,930.90 Variable2 May 25, 2047 I-11-A $ 5,518,260.80 Variable2 May 25, 2047 I-11-B $ 5,518,260.80 Variable2 May 25, 2047 I-12-A $ 5,812,419.67 Variable2 May 25, 2047 I-12-B $ 5,812,419.67 Variable2 May 25, 2047 I-13-A $ 5,579,166.42 Variable2 May 25, 2047 I-13-B $ 5,579,166.42 Variable2 May 25, 2047 I-14-A $ 5,259,276.62 Variable2 May 25, 2047 I-14-B $ 5,259,276.62 Variable2 May 25, 2047 I-15-A $ 4,946,674.17 Variable2 May 25, 2047 I-15-B $ 4,946,674.17 Variable2 May 25, 2047 I-16-A $ 4,677,720.88 Variable2 May 25, 2047 I-16-B $ 4,677,720.88 Variable2 May 25, 2047 I-17-A $ 4,478,668.50 Variable2 May 25, 2047 I-17-B $ 4,478,668.50 Variable2 May 25, 2047 I-18-A $ 4,273,483.34 Variable2 May 25, 2047 I-18-B $ 4,273,483.34 Variable2 May 25, 2047 I-19-A $ 4,049,969.15 Variable2 May 25, 2047 I-19-B $ 4,049,969.15 Variable2 May 25, 2047 I-20-A $ 3,835,204.58 Variable2 May 25, 2047 I-20-B $ 3,835,204.58 Variable2 May 25, 2047 I-21-A $ 4,830,929.47 Variable2 May 25, 2047 I-21-B $ 4,830,929.47 Variable2 May 25, 2047 I-22-B $ 59,187,491.39 Variable2 May 25, 2047 I-23-A $ 6,003,384.40 Variable2 May 25, 2047 I-23-B $ 6,003,384.40 Variable2 May 25, 2047 I-24-A $ 5,129,553.91 Variable2 May 25, 2047 I-24-B $ 5,129,553.91 Variable2 May 25, 2047 I-25-A $ 4,219,558.16 Variable2 May 25, 2047 I-25-B $ 4,219,558.16 Variable2 May 25, 2047 I-26-A $ 3,618,746.37 Variable2 May 25, 2047 I-26-B $ 3,618,746.37 Variable2 May 25, 2047 I-27-A $ 3,195,050.89 Variable2 May 25, 2047 I-27-B $ 3,195,050.89 Variable2 May 25, 2047 I-28-A $ 2,877,192.27 Variable2 May 25, 2047 I-28-B $ 2,877,192.27 Variable2 May 25, 2047 I-29-A $ 2,606,574.65 Variable2 May 25, 2047 I-29-B $ 2,606,574.65 Variable2 May 25, 2047 I-30-A $ 2,445,444.33 Variable2 May 25, 2047 I-30-B $ 2,445,444.33 Variable2 May 25, 2047 I-31-A $ 2,316,424.69 Variable2 May 25, 2047 I-31-B $ 2,316,424.69 Variable2 May 25, 2047 I-32-A $ 2,217,421.38 Variable2 May 25, 2047 I-32-B $ 2,217,421.38 Variable2 May 25, 2047 I-33-A $ 2,593,673.98 Variable2 May 25, 2047 I-33-B $ 2,593,673.98 Variable2 May 25, 2047 I-34-A $ 3,138,512.27 Variable2 May 25, 2047 I-34-B $ 3,138,512.27 Variable2 May 25, 2047 I-35-A $ 424,034.75 Variable2 May 25, 2047 I-35-B $ 424,034.75 Variable2 May 25, 2047 I-36-A $ 4,372,967.67 Variable2 May 25, 2047 I-36-B $ 4,372,967.67 Variable2 May 25, 2047 I-37-A $ 2,121,274.28 Variable2 May 25, 2047 I-37-B $ 2,121,274.28 Variable2 May 25, 2047 I-38-A $ 1,961,580.35 Variable2 May 25, 2047 I-38-B $ 1,961,580.35 Variable2 May 25, 2047 I-39-A $ 1,817,984.10 Variable2 May 25, 2047 I-39-B $ 1,817,984.10 Variable2 May 25, 2047 I-40-A $ 1,697,199.39 Variable2 May 25, 2047 I-40-B $ 1,697,199.39 Variable2 May 25, 2047 I-41-A $ 1,593,754.09 Variable2 May 25, 2047 I-41-B $ 1,593,754.09 Variable2 May 25, 2047 I-42-A $ 1,490,041.84 Variable2 May 25, 2047 I-42-B $ 1,490,041.84 Variable2 May 25, 2047 I-43-A $ 1,396,433.02 Variable2 May 25, 2047 I-43-B $ 1,396,433.02 Variable2 May 25, 2047 I-44-A $ 1,291,816.38 Variable2 May 25, 2047 I-44-B $ 1,291,816.38 Variable2 May 25, 2047 I-45-A $ 1,257,902.84 Variable2 May 25, 2047 I-45-B $ 1,257,902.84 Variable2 May 25, 2047 I-46-B $ 1,224,724.15 Variable2 May 25, 2047 I-47-A $ 1,183,164.01 Variable2 May 25, 2047 I-47-B $ 1,183,164.01 Variable2 May 25, 2047 I-48-A $ 1,154,768.08 Variable2 May 25, 2047 I-48-B $ 1,154,768.08 Variable2 May 25, 2047 I-49-A $ 1,121,669.11 Variable2 May 25, 2047 I-49-B $ 1,121,669.11 Variable2 May 25, 2047 I-50-A $ 1,099,979.62 Variable2 May 25, 2047 I-50-B $ 1,099,979.62 Variable2 May 25, 2047 I-51-A $ 1,072,576.92 Variable2 May 25, 2047 I-51-B $ 1,072,576.92 Variable2 May 25, 2047 I-52-A $ 1,045,428.43 Variable2 May 25, 2047 I-52-B $ 1,045,428.43 Variable2 May 25, 2047 I-53-A $ 1,018,205.92 Variable2 May 25, 2047 I-53-B $ 1,018,205.92 Variable2 May 25, 2047 I-54-A $ 991,121.37 Variable2 May 25, 2047 I-54-B $ 991,121.37 Variable2 May 25, 2047 I-55-A $ 964,810.47 Variable2 May 25, 2047 I-55-B $ 964,810.47 Variable2 May 25, 2047 I-56-A $ 928,957.07 Variable2 May 25, 2047 I-56-B $ 928,957.07 Variable2 May 25, 2047 I-57-A $ 891,368.93 Variable2 May 25, 2047 I-57-B $ 891,368.93 Variable2 May 25, 2047 I-58-A $ 852,206.84 Variable2 May 25, 2047 I-58-B $ 852,206.84 Variable2 May 25, 2047 I-59-A $ 27,587,521.32 Variable2 May 25, 2047 I-59-B $ 27,587,521.32 Variable2 May 25, 2047 IIX $210,811,616.18 Variable2 May 25, 2047 II-1-A $ 3,182,601.48 Variable2 May 25, 2047 II-1-B $ 3,182,601.48 Variable2 May 25, 2047 II-2-A $ 4,034,758.63 Variable2 May 25, 2047 II-2-B $ 4,034,758.63 Variable2 May 25, 2047 II-3-A $ 4,780,530.32 Variable2 May 25, 2047 II-3-B $ 4,780,530.32 Variable2 May 25, 2047 II-4-A $ 5,508,290.91 Variable2 May 25, 2047 II-4-B $ 5,508,290.91 Variable2 May 25, 2047 II-5-A $ 1,768,976.44 Variable2 May 25, 2047 II-5-B $ 1,768,976.44 Variable2 May 25, 2047 II-6-A $ 2,496,584.34 Variable2 May 25, 2047 II-6-B $ 2,496,584.34 Variable2 May 25, 2047 II-7-A $ 3,147,538.79 Variable2 May 25, 2047 II-7-B $ 3,147,538.79 Variable2 May 25, 2047 II-8-A $ 3,850,371.81 Variable2 May 25, 2047 II-8-B $ 3,850,371.81 Variable2 May 25, 2047 II-9-A $ 5,051,006.03 Variable2 May 25, 2047 II-9-B $ 5,051,006.03 Variable2 May 25, 2047 II-10-A $ 7,049,761.60 Variable2 May 25, 2047 II-10-B $ 7,049,761.60 Variable2 May 25, 2047 II-11-A $ 8,982,462.20 Variable2 May 25, 2047 II-11-B $ 8,982,462.20 Variable2 May 25, 2047 II-12-A $ 9,461,285.33 Variable2 May 25, 2047 II-12-B $ 9,461,285.33 Variable2 May 25, 2047 II-13-A $ 9,081,602.58 Variable2 May 25, 2047 II-13-B $ 9,081,602.58 Variable2 May 25, 2047 II-14-A $ 8,560,895.38 Variable2 May 25, 2047 II-14-B $ 8,560,895.38 Variable2 May 25, 2047 II-15-A $ 8,052,050.33 Variable2 May 25, 2047 II-15-B $ 8,052,050.33 Variable2 May 25, 2047 II-16-A $ 7,614,256.12 Variable2 May 25, 2047 II-16-B $ 7,614,256.12 Variable2 May 25, 2047 II-17-A $ 7,290,244.50 Variable2 May 25, 2047 II-17-B $ 7,290,244.50 Variable2 May 25, 2047 II-18-A $ 6,956,250.16 Variable2 May 25, 2047 II-18-B $ 6,956,250.16 Variable2 May 25, 2047 II-19-A $ 6,592,420.35 Variable2 May 25, 2047 II-19-B $ 6,592,420.35 Variable2 May 25, 2047 II-20-A $ 6,242,832.92 Variable2 May 25, 2047 II-20-B $ 6,242,832.92 Variable2 May 25, 2047 II-21-A $ 7,863,644.53 Variable2 May 25, 2047 II-21-B $ 7,863,644.53 Variable2 May 25, 2047 II-22-A $ 6,343,653.11 Variable2 May 25, 2047 II-22-B $ 96,343,653.11 Variable2 May 25, 2047 II-23-A $ 9,772,132.10 Variable2 May 25, 2047 II-23-B $ 9,772,132.10 Variable2 May 25, 2047 II-24-A $ 8,349,736.59 Variable2 May 25, 2047 II-24-B $ 8,349,736.59 Variable2 May 25, 2047 II-25-A $ 6,868,472.34 Variable2 May 25, 2047 II-25-B $ 6,868,472.34 Variable2 May 25, 2047 II-26-A $ 5,890,488.63 Variable2 May 25, 2047 II-26-B $ 5,890,488.63 Variable2 May 25, 2047 II-27-A $ 5,200,809.61 Variable2 May 25, 2047 II-27-B $ 5,200,809.61 Variable2 May 25, 2047 II-28-A $ 4,683,408.73 Variable2 May 25, 2047 II-28-B $ 4,683,408.73 Variable2 May 25, 2047 II-29-A $ 4,242,905.35 Variable2 May 25, 2047 II-29-B $ 4,242,905.35 Variable2 May 25, 2047 II-30-A $ 3,980,622.17 Variable2 May 25, 2047 II-30-B $ 3,980,622.17 Variable2 May 25, 2047 II-31-A $ 3,770,607.81 Variable2 May 25, 2047 II-31-B $ 3,770,607.81 Variable2 May 25, 2047 II-32-A $ 3,609,453.12 Variable2 May 25, 2047 II-32-B $ 3,609,453.12 Variable2 May 25, 2047 II-33-A $ 4,221,906.02 Variable2 May 25, 2047 II-33-B $ 4,221,906.02 Variable2 May 25, 2047 II-34-A $ 5,108,777.73 Variable2 May 25, 2047 II-34-B $ 5,108,777.73 Variable2 May 25, 2047 II-35-A $ 690,231.25 Variable2 May 25, 2047 II-35-B $ 690,231.25 Variable2 May 25, 2047 II-36-A $ 7,118,187.83 Variable2 May 25, 2047 II-36-B $ 7,118,187.83 Variable2 May 25, 2047 II-37-A $ 3,452,947.72 Variable2 May 25, 2047 II-37-B $ 3,452,947.72 Variable2 May 25, 2047 II-38-A $ 3,193,002.65 Variable2 May 25, 2047 II-38-B $ 3,193,002.65 Variable2 May 25, 2047 II-39-A $ 2,959,260.90 Variable2 May 25, 2047 II-39-B $ 2,959,260.90 Variable2 May 25, 2047 II-40-A $ 2,762,651.11 Variable2 May 25, 2047 II-40-B $ 2,762,651.11 Variable2 May 25, 2047 II-41-A $ 2,594,265.91 Variable2 May 25, 2047 II-41-B $ 2,594,265.91 Variable2 May 25, 2047 II-42-A $ 2,425,446.16 Variable2 May 25, 2047 II-42-B $ 2,425,446.16 Variable2 May 25, 2047 II-43-A $ 2,273,072.48 Variable2 May 25, 2047 II-43-B $ 2,273,072.48 Variable2 May 25, 2047 II-44-A $ 2,102,780.62 Variable2 May 25, 2047 II-44-B $ 2,102,780.62 Variable2 May 25, 2047 II-45-A $ 2,047,577.16 Variable2 May 25, 2047 II-45-B $ 2,047,577.16 Variable2 May 25, 2047 II-46-A $ 1,993,569.85 Variable2 May 25, 2047 II-46-B $ 1,993,569.85 Variable2 May 25, 2047 II-47-A $ 1,925,919.49 Variable2 May 25, 2047 II-47-B $ 1,925,919.49 Variable2 May 25, 2047 II-48-A $ 1,879,697.42 Variable2 May 25, 2047 II-48-B $ 1,879,697.42 Variable2 May 25, 2047 II-49-A $ 1,825,819.89 Variable2 May 25, 2047 II-49-B $ 1,825,819.89 Variable2 May 25, 2047 II-50-A $ 1,790,514.38 Variable2 May 25, 2047 II-50-B $ 1,790,514.38 Variable2 May 25, 2047 II-51-A $ 1,745,909.08 Variable2 May 25, 2047 II-51-B $ 1,745,909.08 Variable2 May 25, 2047 II-52-A $ 1,701,717.57 Variable2 May 25, 2047 II-52-B $ 1,701,717.57 Variable2 May 25, 2047 II-53-A $ 1,657,405.58 Variable2 May 25, 2047 II-53-B $ 1,657,405.58 Variable2 May 25, 2047 II-54-A $ 1,613,318.13 Variable2 May 25, 2047 II-54-B $ 1,613,318.13 Variable2 May 25, 2047 II-55-A $ 1,570,490.03 Variable2 May 25, 2047 II-55-B $ 1,570,490.03 Variable2 May 25, 2047 II-56-A $ 1,512,128.93 Variable2 May 25, 2047 II-56-B $ 1,512,128.93 Variable2 May 25, 2047 II-57-A $ 1,450,944.07 Variable2 May 25, 2047 II-57-B $ 1,450,944.07 Variable2 May 25, 2047 II-58-A $ 1,387,197.16 Variable2 May 25, 2047 II-58-B $ 1,387,197.16 Variable2 May 25, 2047 II-59-A $ 44,906,153.68 Variable2 May 25, 2047 II-59-B $ 44,906,153.68 Variable2 May 25, 2047 P $ 100.00 Variable2 May 25, 2047 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Uppermonth following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass-Tier Through Rate” herein. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust, the Interest Coverage Account and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 2.” The Class A-R-II Certificate represents R-2 Interest shall represent the sole class of “residual interest interests” in REMIC 2 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 2 Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 2 Regular Interests. None of the REMIC 2 Regular Interests will be certificated. AA $780,895,878.44 Variable2 May 25, 2047 A-IA $ 2,457,750.00 Variable2 May 25, 2047 A-IIA1 $ 1,787,125.00 Variable2 May 25, 2047 A-IIA2 $ 626,610.00 Variable2 May 25, 2047 A-IIA3 $ 997,070.00 Variable2 May 25, 2047 A-IIA4 $ 589,775.00 Variable2 May 25, 2047 M1 $ 254,985.00 Variable2 May 25, 2047 M2 $ 223,115.00 Variable2 May 25, 2047 M3 $ 135,460.00 Variable2 May 25, 2047 M4 $ 119,525.00 Variable2 May 25, 2047 M5 $ 115,540.00 Variable2 May 25, 2047 M6 $ 107,570.00 Variable2 May 25, 2047 M7 $ 103,590.00 Variable2 May 25, 2047 M8 $ 63,745.00 Variable2 May 25, 2047 M9 $ 87,655.00 Variable2 May 25, 2047 ZZ $ 8,267,135.58 Variable2 May 25, 2047 1GRP $ 11,492.04 Variable2 May 25, 2047 1SUB $ 60,647.04 Variable2 May 25, 2047 2GRP $ 18,707.87 Variable2 May 25, 2047 2SUB $ 98,719.47 Variable2 May 25, 2047 XX $796,642,962.59 Variable2 May 25, 2047 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property month following the month of the Trust Fund other than maturity date for the assets held in Mortgage Loan with the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby latest maturity date has been designated as the “latest possible maturity date” for each REMIC 2 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 2 Pass-Through Rate” herein. 3 REMIC 2 Regular Interest Swap IO will not have a REMIC regular interestprincipal amount but will accrue interest on its Uncertificated Notional Amount, as defined herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 1 Mortgage Loan Pass-Through Certificates, Series 2005-5 1 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen thirteen classes of certificates, designated as (i) the Class 1-A-1A A Certificates, (ii) the Class 12-A-1B A1A Certificates, (iii) the Class 2-A-1A A1B Certificates, (iv) the Class 2-A-1B A2 Certificates, (v) the Class 2-A-1C X Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), vii) the Class A-R-II B-1 Certificates, (viii) the Class B-2 Certificates, (ix) the Class B-3 Certificates, (x) the Class B-4 Certificates, (xi) the Class B-5 Certificates, (xii) the Class P Certificates, B-6 Certificates and (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesY Certificate. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance AgreementsAgreement) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1BA, Class 2-A-1AA1A, Class 2-A-1BA1B, Class 2-A-1CA2, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, B-5 and Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 12-A-1A, Class 1-A-1BA1A, Class 2-A-1AA1B, Class 2-A-1B, and Class 2-A-1C A2 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 X Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier each REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance AgreementsAgreement, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The following table specifies the Class designation, interest rate, and initial Class Principal Amount for each Class of Lower-Tier REMIC Interest: LT1-A (1) $ 273,382,050.00 Class 1-A and A-R LT2-A1A (1) $ 210,185,000.00 Class 2-A1A LT2-A1B (1) $ 140,123,500.00 Class 2-A1B LT2-A2 (1) $ 30,376,000.00 Class 2-A2 LTB-6 (1) $ 3,544,783.00 Class B-6 LTQ (1) $ 708,247,833.06 N/A LT-R (2) (2) Class A-R __________________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Greenwich HarborView Mortgage Loan Trust 2005-1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-two classes of certificates, designated as (i) the Class 1-A-1A A Certificates, (ii) the Class 1-A-1B M-1 Certificates, (iii) the Class 2-A-1A M-2 Certificates, (iv) the Class 2-A-1B M-3 Certificates, (v) the Class 2-A-1C M-4 Certificates, (vi) the Class X-1 M-5 Certificates, (vii) the Class X-2 M-6 Certificates, (viii) the Class PO-1 M-7 Certificates, (ix) the Class PO-2 M-8 Certificates, (x) the Class A-R M-9 Certificates, (xi), ) the Class A-R-II M-10 Certificates, (xii) the Class P M-11 Certificates, (xiii) the Class B-1 M-12 Certificates, (xiv) the Class B-2 M-13 Certificates, (xv) the Class B-3 M-14 Certificates, (xvi) the Class B-4 M-15 Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 Certificates and P Certificates, (xix) the Class B-7 R Certificates, (xx) the Class R-X Certificates, (xxi) the Class X-1 Certificates and (xxii) the Class X-2 Certificates. As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Basis Risk Reserve Fund Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable(2) $ 126,499,957.41 November 25, 2035 I-1-II Certificate. Each such LowerB Variable(2) $ 10,852,756.25 November 25, 2035 I-3-Tier Interest is hereby designated as a REMIC regular interest.B Variable(2) $ 9,815,077.50 November 25, 2035 I-4-B Variable(2) $ 9,334,003.75 November 25, 2035 I-6-B Variable(2) $ 8,441,337.50 November 25, 2035 I-7-B Variable(2) $ 8,027,500.00 November 25, 2035 I-8-B Variable(2) $ 7,633,918.75 November 25, 2035 I-9-B Variable(2) $ 7,259,603.75 November 25, 2035 I-10-B Variable(2) $ 7,359,948.75 November 25, 2035 I-11-B Variable(2) $ 8,547,723.75 November 25, 2035 I-13-B Variable(2) $ 5,818,463.75 November 25, 2035 I-14-B Variable(2) $ 5,533,060.00 November 25, 2035 I-15-B Variable(2) $ 5,261,633.75 November 25, 2035 I-16-B Variable(2) $ 5,003,500.00 November 25, 2035 I-18-B Variable(2) $ 4,524,542.50 November 25, 2035 I-19-A Variable(2) $ 4,302,511.25 November 25, 2035 I-19-B Variable(2) $ 4,302,511.25 November 25, 2035 I-20-A Variable(2) $ 4,091,358.75 November 25, 2035 I-20-B Variable(2) $ 4,091,358.75 November 25, 2035 I-21-B Variable(2) $ 3,890,550.00 November 25, 2035 I-23-B Variable(2) $ 3,517,966.25 November 25, 2035 I-24-A Variable(2) $ 3,345,252.50 November 25, 2035 I-24-B Variable(2) $ 3,345,252.50 November 25, 2035 I-25-B Variable(2) $ 3,181,002.50 November 25, 2035 I-26-A Variable(2) $ 3,024,802.50 November 25, 2035 I-26-B Variable(2) $ 3,024,802.50 November 25, 2035 I-27-A Variable(2) $ 2,876,258.75 November 25, 2035 I-27-B Variable(2) $ 2,876,258.75 November 25, 2035 I-28-A Variable(2) $ 2,734,996.25 November 25, 2035 I-28-B Variable(2) $ 2,734,996.25 November 25, 2035 I-29-A Variable(2) $ 2,600,658.75 November 25, 2035 I-29-B Variable(2) $ 2,600,658.75 November 25, 2035 I-30-B Variable(2) $ 2,472,906.25 November 25, 2035 I-32-B Variable(2) $ 2,235,886.25 November 25, 2035 I-33-A Variable(2) $ 2,126,020.00 November 25, 2035 I-33-B Variable(2) $ 2,126,020.00 November 25, 2035 I-34-B Variable(2) $ 2,021,541.25 November 25, 2035 I-35-A Variable(2) $ 1,922,186.25 November 25, 2035 I-35-B Variable(2) $ 1,922,186.25 November 25, 2035 I-36-B Variable(2) $ 1,827,706.25 November 25, 2035 I-38-B Variable(2) $ 1,652,421.25 November 25, 2035 I-39-A Variable(2) $ 1,571,173.75 November 25, 2035 I-39-B Variable(2) $ 1,571,173.75 November 25, 2035 I-40-B Variable(2) $ 1,493,912.50 November 25, 2035 I-41-A Variable(2) $ 28,802,973.75 November 25, 2035 I-41-B Variable(2) $ 28,802,973.75 November 25, 2035 P Variable(2) $ 100.00 November 25, 2035 ________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-A)
PRELIMINARY STATEMENT. On January 27, 2003 the Seller formed ▇▇▇▇▇▇▇▇▇ Mortgage Securities Trust 2003-1, as a Delaware statutory trust (the “Trust”) pursuant to the Trust Agreement, dated January 27, 2003 (the “Original Trust Agreement”), among the Seller, the Trustee and the Delaware Trustee. The parties to this Agreement desire to amend and restate the Original Trust Agreement in its entirety, and, as evidenced by their signatures hereto, the Original Trust Agreement is hereby amended, restated and replaced in its entirety as of the date first written above by this Agreement. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Trust’s Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052003-5 1 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen eleven classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B A-4 Certificates, (v) the Class 2A-A-1C CertificatesR Certificate, (vi) the Class X-1 B-1 Certificates, (vii) the Class X-2 B-2 Certificates, (viii) the Class PO-1 B-3 Certificates, (ix) the Class PO-2 B-4 Certificates, (x) the Class A-R Certificates, B-5 Certificates and (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held Additional Collateral) is comprised of two REMICs in a tiered REMIC structure – the Basis Risk Reserve Fund lower tier REMIC (the “Lower Tier REMIC”) and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits upper tier REMIC (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Upper Tier REMIC”). Each CertificateThe Lower Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Additional Collateral) and will issue interests (the “Lower Tier Regular Interests”) (which will be uncertificated and will represent the regular interests in the Lower Tier REMIC) and a residual interest (the “Class LT-R Interest”) which will also be uncertificated and which will represent the sole class of residual interest in the Lower Tier REMIC. The Trustee will hold the Lower Tier Regular Interests as assets of the Upper Tier REMIC. The Certificates, other than the Class A-R Certificate Certificate, will represent “regular interests” in the Upper Tier REMIC, and the Class A-R-II R Certificate, shall which will represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interest” in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than well as ownership of the Class LT-R Interest. For purposes of the REMIC Provisions, ownership of which shall the startup day is the Closing Date. All REMIC regular and residual interests created hereby will be evidenced by retired on or before the Latest Possible Maturity Date. The following table irrevocably specifies the Class designation, interest rate, principal amount and Corresponding Classes of Certificates for each class of Lower Tier Regular Interests: LTA-1 (1) $ 1,927,730.46 Classes A-1 and A-RR Group 1 LTA-2 (2) $ 1,194,004.51 Class A-2 Group 2 LTA-3 (3) $ 4,057,755.02 Class A-3 Group 3 LTA-4 (4) $ 565,258.64 Class A-4 Group 4 LT-II Certificate. Each such LowerSC-1 (5) $ 54,939.46 Classes B-1 – B-6 Group 1 LT-Tier Interest is hereby designated as a REMIC regular interest.SC-2 (5) $ 34,034.51 Classes B-1 – B-6 Group 2 LT-SC-3 (5) $ 115,655.02 Classes B-1 – B-6 Group 3 LT-SC-4 (5) $ 16,118.64 Classes B-1 – B-6 Group 4 LT-Q (5) $766,509,367.20 N/A N/A Class LT-R (6) N/A N/A N/A __________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc Thorn Mort Sec Tr 2003-1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which Certificates in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen five classes of certificates, designated as (i) the Class 1-A-1A A Certificates, (ii) the Class 1-A-1B M Certificates, (iii) the Class 2-A-1A B Certificates, (iv) the Class 2-A-1B Certificates, C Certificates and (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. REMIC 1 As provided herein, the Trustee shall elect that will make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in the Basis Risk Excess Reserve Fund and the Yield Maintenance Account and the Yield Maintenance AgreementsPre-Funding Account) be treated as a real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not R-1 Interest will represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein) under federal income tax law. The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests. None of the assets held in the Basis Risk Reserve FundREMIC 1 Regular Interests will be certificated.(1) Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Assumed Final Maturity Date(2) LT1 Variable(3) $229,821,905.94 June 25, the Yield Maintenance Account2010 LT1PF Variable(3) $20,178,094.06 June 25, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.2010
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Indymac Residential Mortgage-Backed Trust, Series 2005-L1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B A-4 Certificates, (v) the Class 2-A-1C M-1 Certificates, (vi) the Class X-1 M-2 Certificates, (vii) the Class X-2 M-3 Certificates, (viii) the Class PO-1 M-4 Certificates, (ix) the Class PO-2 M-5 Certificates, (x) the Class A-R M-6 Certificates, (xi), ) the Class A-R-II M-7 Certificates, (xii) the Class P M-8 Certificates, (xiii) the Class B-1 M-9 Certificates, (xiv) the Class B-2 M-10 Certificates, (xv) the Class B-3 C Certificates, (xvi) the Class B-4 P Certificates, (xvii) the Class B-5 R Certificates, (xviii) the Class B-6 R-X Certificates and (xixix) the Class B-7 FL Certificates. As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, the Basis Risk Reserve Fund Cap Agreement, the Interest Rate Cap Agreement, the Cap Account, the Cap Allocation Agreement, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable (2) $ 140,871,814.12 January 2037 I-1-II Certificate. Each such LowerB Variable (2) $ 9,536,276.25 January 2037 I-7-Tier Interest is hereby designated as a REMIC regular interest.B Variable (2) $ 7,653,536.25 January 2037 I-13-B Variable (2) $ 3,852,631.25 January 2037 I-15-B Variable (2) $ 1,885,688.75 January 2037 I-20-B Variable (2) $ 1,594,228.75 January 2037 I-21-B Variable (2) $ 1,545,981.25 January 2037 I-24-B Variable (2) $ 1,439,726.25 January 2037 I-33-B Variable (2) $ 984,622.50 January 2037 I-35-B Variable (2) $ 929,523.75 January 2037 I-38-B Variable (2) $ 852,572.50 January 2037 I-39-B Variable (2) $ 828,358.75 January 2037 I-40-B Variable (2) $ 804,826.25 January 2037 I-41-A Variable (2) $ 781,961.25 January 2037 I-41-B Variable (2) $ 781,961.25 January 2037 I-42-A Variable (2) $ 759,740.00 January 2037 I-42-B Variable (2) $ 759,740.00 January 2037 I-44-B Variable (2) $ 717,166.25 January 2037 I-45-A Variable (2) $ 696,776.25 January 2037 I-45-B Variable (2) $ 696,776.25 January 2037 I-47-B Variable (2) $ 657,787.50 January 2037 I-48-B Variable (2) $ 638,938.75 January 2037 I-49-B Variable (2) $ 620,763.75 January 2037 I-50-A Variable (2) $ 603,101.25 January 2037 I-50-B Variable (2) $ 603,101.25 January 2037 I-51-A Variable (2) $ 20,407,328.75 January 2037 I-51-B Variable (2) $ 20,407,328.75 January 2037 P Variable (2) $ 100.00 January 2037 ________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Ns1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 13 Mortgage Loan Pass-Through Certificates, Series 2005-5 13 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-two classes of certificates, designated as (i) the Class 1-A-1A A1A Certificates, (ii) the Class 1-A-1B A1B Certificates, (iii) the Class 2-A-1A A1A1 Certificates, (iv) the Class 2-A-1B A1A2 Certificates, (v) the Class 2-A-1C A1B Certificates, (vi) the Class X-1 2-A1C Certificates, (vii) the Class X-2 X Certificates, (viii) the Class PO-1 PO Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), x) the Class A-R-II Certificates, (xi) the Class B-1 Certificates, (xii) the Class P B-2 Certificates, (xiii) the Class B-1 B-3 Certificates, (xiv) the Class B-2 B-4 Certificates, (xv) the Class B-3 B-5 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xixxvii) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Prefunding Account, the Basis Risk Reserve Fund Fund, and the Yield Maintenance Account and the Yield Maintenance AgreementsAgreements (collectively, the “Excluded Trust Property”) be treated for federal income tax purposes as comprising two three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1AA1A, Class 1-A-1BA1B, Class 2-A-1AA1A1, Class 2-A-1BA1A2, Class 2-A1B and Class 2-A-1C A1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 X Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC, and the Class A-R Certificates represent ownership of the sole class of residual interest in the Middle-Tier and the Upper-Tier REMICs. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund Fund, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Excluded Trust Property and the interests in the Lower-Tier REMIC and the Middle-Tier REMIC formed hereby. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest. The following table specifies the Class designation, interest rate, and initial principal amount for each Lower-Tier REMIC Interest: Designation Interest Rate Initial Principal Balance Related group LT-Group 1 (1) $ 244,736,115.39 Group 1 LT-Group 1 SCA (1) $ 263,373.39 Group 1 LT-Group 2 (2) $ 668,463,549.41 Group 2 LT-Group 2 SCA (2) $ 719,378.78 Group 2 LT-R (3) (3) N/A
Appears in 1 contract
Sources: Pooling Agreement (Greenwich Capital Acceptance Inc)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-1F Certificates, (iii) the Class 2-A-1A A-2 Certificates, (iv) the Class 2-A-1B A-3 Certificates, (v) the Class 2-A-1C A-4 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 M-10 Certificates, (xvi) the Class B-4 C Certificates, (xvii) the Class B-5 P Certificates, (xviii) the Class B-6 R Certificates and (xix) the Class B-7 R-X Certificates. As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, the Basis Risk Reserve Fund Cap Agreements, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable (2) $ 641,130,703.28 October 25, 2036 I-1-II Certificate. Each such LowerA Variable (2) $ 1,642,977.50 October 25, 2036 I-1-Tier Interest is hereby designated as a REMIC regular interest.B Variable (2) $ 1,642,977.50 October 25, 2036 I-2-A Variable (2) $ 5,015,067.50 October 25, 2036 I-2-B Variable (2) $ 5,015,067.50 October 25, 2036 I-3-A Variable (2) $ 4,829,021.25 October 25, 2036 I-3-B Variable (2) $ 4,829,021.25 October 25, 2036 I-4-A Variable (2) $ 4,649,952.50 October 25, 2036 I-4-B Variable (2) $ 4,649,952.50 October 25, 2036 I-5-A Variable (2) $ 4,477,567.50 October 25, 2036 I-5-B Variable (2) $ 4,477,567.50 October 25, 2036 I-6-A Variable (2) $ 293,267.50 October 25, 2036 I-6-B Variable (2) $ 293,267.50 October 25, 2036 I-7-A Variable (2) $ 734,497.50 October 25, 2036 I-7-B Variable (2) $ 734,497.50 October 25, 2036 I-8-A Variable (2) $ 43,980.00 October 25, 2036 I-8-B Variable (2) $ 43,980.00 October 25, 2036 I-9-A Variable (2) $ 42,351.25 October 25, 2036 I-9-B Variable (2) $ 42,351.25 October 25, 2036 I-10-A Variable (2) $ 40,785.00 October 25, 2036 I-10-B Variable (2) $ 40,785.00 October 25, 2036 I-11-A Variable (2) $ 39,275.00 October 25, 2036 I-11-B Variable (2) $ 39,275.00 October 25, 2036 I-12-A Variable (2) $ 37,822.50 October 25, 2036 I-12-B Variable (2) $ 37,822.50 October 25, 2036 I-13-A Variable (2) $ 36,423.75 October 25, 2036 I-13-B Variable (2) $ 36,423.75 October 25, 2036 I-14-A Variable (2) $ 379,892.50 October 25, 2036 I-14-B Variable (2) $ 379,892.50 October 25, 2036 I-15-A Variable (2) $ 2,244,925.00 October 25, 2036 I-15-B Variable (2) $ 2,244,925.00 October 25, 2036 I-16-A Variable (2) $ 2,161,986.25 October 25, 2036 I-16-B Variable (2) $ 2,161,986.25 October 25, 2036 I-17-A Variable (2) $ 2,082,132.50 October 25, 2036 I-17-B Variable (2) $ 2,082,132.50 October 25, 2036 I-18-A Variable (2) $ 2,005,247.50 October 25, 2036 I-18-B Variable (2) $ 2,005,247.50 October 25, 2036 I-19-A Variable (2) $ 1,931,220.00 October 25, 2036 I-19-B Variable (2) $ 1,931,220.00 October 25, 2036 I-20-A Variable (2) $ 1,859,942.50 October 25, 2036 I-20-B Variable (2) $ 1,859,942.50 October 25, 2036 I-21-A Variable (2) $ 1,791,313.75 October 25, 2036 I-21-B Variable (2) $ 1,791,313.75 October 25, 2036 I-22-B Variable (2) $ 1,725,228.75 October 25, 2036 I-23-B Variable (2) $ 1,661,600.00 October 25, 2036 I-24-A Variable (2) $ 1,600,333.75 October 25, 2036 I-24-B Variable (2) $ 1,600,333.75 October 25, 2036 I-25-A Variable (2) $ 1,541,361.25 October 25, 2036 I-25-B Variable (2) $ 1,541,361.25 October 25, 2036 I-26-A Variable (2) $ 1,484,588.75 October 25, 2036 I-26-B Variable (2) $ 1,484,588.75 October 25, 2036 I-27-A Variable (2) $ 1,434,835.00 October 25, 2036 I-27-B Variable (2) $ 1,434,835.00 October 25, 2036 I-28-A Variable (2) $ 1,382,177.50 October 25, 2036 I-28-B Variable (2) $ 1,382,177.50 October 25, 2036 I-29-A Variable (2) $ 1,331,188.75 October 25, 2036 I-29-B Variable (2) $ 1,331,188.75 October 25, 2036 I-30-A Variable (2) $ 1,282,010.00 October 25, 2036 I-30-B Variable (2) $ 1,282,010.00 October 25, 2036 I-31-B Variable (2) $ 1,272,151.25 October 25, 2036 I-32-A Variable (2) $ 1,262,255.00 October 25, 2036 I-32-B Variable (2) $ 1,262,255.00 October 25, 2036 I-33-A Variable (2) $ 1,215,642.50 October 25, 2036 I-33-B Variable (2) $ 1,215,642.50 October 25, 2036 I-34-A Variable (2) $ 29,669,978.75 October 25, 2036 I-34-B Variable (2) $ 29,669,978.75 October 25, 2036 P Variable (2) $ 100.00 October 25, 2036 ________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Wf1)
PRELIMINARY STATEMENT. Through but not defined in this Agreement, Preliminary Statement shall have the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”meanings specified in Article I) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates pass-through certificates to be issued hereunder in multiple classes, classes which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist consisting primarily of nineteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesMortgage Loans. As provided herein, the Trustee shall will elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two separate real estate mortgage investment conduits (each, each a “"REMIC” " or, in the alternative, the “Lower"REMIC I" and "REMIC II," respectively). The Class A-1, Class A-▇, ▇▇▇▇▇ ▇-Tier REMIC” ▇▇, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L-1 and Class L-2 Certificates constitute "regular interests" in REMIC II and the “UpperClasses R-Tier REMIC”)II Certificates are the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions. Each Certificate, other than The Class R-I Certificates are the sole class of "residual interest" in REMIC I for purposes of the REMIC Provisions. There are also eleven classes of uncertificated REMIC I Regular Interests issued under this Agreement (the Class A-R L-1, Class A-L-2, Class B-L, Class C-L, ▇lass D-L, Class E-L, Class F-L, Class G-L, Class H-L, Class J-L, Class K-L ▇▇d Class L-L Interests), each of which will constitute a regular interest in REMIC I. All such REMIC I Regular Interests will be held by the Trustee as assets of REMIC II. The following table sets forth the designation and aggregate initial Certificate and Balance (or, with respect to the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 EC and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1AL-2 Certificates, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, EC Notional Balance and the Class L-2 Notional Balance, respectively) for each Class of Certificates comprising interests in the Lower-Tier REMIC formed herebyII. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Certificate Balance Class LT-R Interest, ownership of which shall be evidenced by the or Notional Balance Class A-1 $145,744,000.00 Class A-2 $210,167,000.00 Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.EC $512,101,998.44 (1) Class B $ 30,727,000.00 Class C $ 28,166,000.00 Class D $ 23,045,000.00 Class E $ 7,682,000.00 Class F $ 15,364,000.00 Class G $ 12,803,000.00 Class H $ 5,122,000.00 Class J $ 12,803,000.00 Class K $ 7,682,000.00 Class L-1 $ 12,796,998.44 Class L-2 $ 12,796,998.44 (1)
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Midland Realty Accept Corp Com Mort Pass THR Cert Se 1996 C2)
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified), the Swap Agreement (as hereinafter defined) and the Cap Agreements (as hereinafter defined) to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView Mortgage mortgage pass-through certificates designated as ACE Securities Corp. Home Equity Loan Trust 2005Trust, Series 2007-5 Mortgage Loan HE2, Asset Backed Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen seventeen classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for ACE Securities Corp. Home Equity Loan Trust, designated Series 2007-HE2, Asset Backed Pass-Through Certificates, dated as of February 1, 2007 (ithe “Pooling and Servicing Agreement”), among the Purchaser as depositor, W▇▇▇▇ Fargo Bank, National Association as master servicer (the “Master Servicer”) and securities administrator (the “Securities Administrator”), Ocwen Loan Servicing, LLC as a servicer (“Ocwen”), Countrywide Home Loans Servicing LP as a servicer (“Countrywide”; together with Ocwen, the “Servicers”) and HSBC Bank USA, National Association as trustee (the “Trustee”). The Purchaser will sell the Class 1-A-1A A-1 Certificates (the “Class A-1 Certificates”), Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates (collectively, the “Class A-2 Certificates”; together with the Class A-1 Certificates, (ii) the “Class 1-A-1B A Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi”), the Class A-R-II M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class M-9 Certificates (the “Mezzanine Certificates, (xii) ”; together with the Class P A Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the Publicly Offered Certificates”) to Deutsche Bank Securities Inc. (“Upper-Tier REMICDBSI”). Each Certificate, other than pursuant to the Class A-R Certificate Second Amended and the Class A-R-II CertificateRestated Underwriting Agreement, shall represent ownership dated as of a regular interest in the Upper-Tier REMICJune 24, 1999, as described herein. In additionamended and restated to and including January 25, (i) 2006, between the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 Purchaser and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance AgreementsDBSI, and the interests Terms Agreement, dated March 8, 2007 (collectively, the “Underwriting Agreement”), between the Purchaser and DBSI. Capitalized terms used but not defined herein shall have the meanings set forth in the Lower-Tier REMIC formed herebyPooling and Servicing Agreement. The Upper Tier REMIC shall hold parties hereto agree as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-He2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classesClasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes eighteen Classes of certificatesCertificates, designated as (i) the Class 1-A-1A A-1 Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the Class A-4 Certificates, the Class A-5 Certificates, (ii) the Class 1-A-1B M-1 Certificates, Class M-2 Certificates, the Class M-3 Certificates, the Class M-4 Certificates, the Class M-5 Certificates and the Class M-6 Certificates, (iii) the Class 2-A-1A B-1 Certificates, the Class B-2 Certificates, the Class B-3 Certificates and the Class B-4 Certificates, (iv) the Class 2-A-1B CE-1 Certificates, the Class CE-2 Certificates (v) the Class 2-A-1C Certificates, P Certificates and (vi) the Class X-1 Certificates, (vii) R Certificates and the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 X Certificates. As provided herein, the Trustee shall elect that will make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, the Basis Risk Reserve Fund Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a real estate investment conduit (a “REMIC”) for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not R-1 Interest will represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions. The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests. None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby1 Regular Interests will be certificated. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.I Variable(2) $ 376,834,526.07 February 2047 P Variable(2) $ 100.00 February 2047 ________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (C-Bass Mortgage Loan Trust 2007-Cb3)
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified) and the Cap Contract to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView mortgage pass-through certificates designated as Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-AR1, Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-five (25) classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for Series 2006-AR1, designated dated as of January 1, 2006 (i) the Class 1-A-1A Certificates“Pooling and Servicing Agreement”), among the Purchaser as depositor, ▇▇▇▇▇ Fargo Bank, N.A. as master servicer and securities administrator (ii) “▇▇▇▇▇ Fargo”), GMAC Mortgage Corporation as servicer (the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi“Servicer”), the Class A-R-II CertificatesSeller as seller and HSBC Bank USA, National Association as trustee (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMICTrustee”). Each Certificate, other than The Purchaser will sell the Class I-A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1II-A-1BA-1, Class 2II-A-1AA-2, Class 2II-A-1BA-3, Class 2II-A-1CX, Class III-A, Class IV-A, Class V-A-1, Class V-A-2, Class B-1, Class B-2, Class B-3, Class B-4V-M-1, Class B-5V-M-2, Class B-6 V-M-3, Class V-M-4 and Class B-7 V-M-5 Certificates represent to Nomura Securities International, Inc. (the right “Underwriter”), pursuant to receive payments in respect the Underwriting Agreement, dated as of Basis Risk Shortfalls from January 1, 2006, between the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund Purchaser and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance AgreementsUnderwriter, and the interests Terms Agreement, dated January 27, 2006 (collectively, the “Underwriting Agreement”), between the Purchaser and the Underwriter. Capitalized terms used but not defined herein shall have the meanings set forth in the Lower-Tier REMIC formed herebyPooling and Servicing Agreement. Pursuant to the custodial agreement, dated as of January 1, 2006 (the “Custodial Agreement”), among the Trustee, the Servicer and ▇▇▇▇▇ Fargo as the custodian (the “Custodian”), the Trustee desires to have the Custodian take possession of the Mortgages and Mortgage Notes, along with certain other documents specified in the Custodial Agreement, as the custodian of the Trustee, in accordance with the terms and conditions thereof. The Upper Tier REMIC shall hold parties hereto agree as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 1 contract
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass‑through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderTrust. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1I-A-1A A Certificates, (ii) the Class 1II-A-1B A1 Certificates, (iii) the Class 2II-A-1A A2 Certificates, (iv) the Class 2II-A-1B A3 Certificates, (v) the Class 2-A-1C II‑A4 Certificates, (vi) the Class X-1 II-A5 Certificates, (vii) the Class X-2 M‑1 Certificates, (viii) the Class PO-1 M-2 Certificates, (ix) the Class PO-2 M-3 Certificates, (x) the Class A-R M‑4 Certificates, (xi), ) the Class A-R-II M‑5 Certificates, (xii) the Class P M‑6 Certificates, (xiii) the Class B-1 M‑7 Certificates, (xiv) the Class B-2 M‑8 Certificates, (xv) the Class B-3 M‑9 Certificates, (xvi) the Class B-4 C Certificates, (xvii) the Class B-5 P Certificates, (xviii) the Class B-6 Certificates and R Certificates, (xix) the Class B-7 R‑CX Certificates and (xx) the Class R‑PX Certificates. As provided herein, the Trustee shall elect that make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Reserve Fund, the Basis Risk Supplemental Interest Trust, the Final Maturity Reserve Fund and Trust, the Yield Maintenance Interest Coverage Account and the Yield Maintenance AgreementsServicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R‑1 Interest shall represent the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as comprising two real estate mortgage investment conduits (eachdefined herein) under federal income tax law. The following table irrevocably sets forth the designation, a “REMIC” orthe Uncertificated REMIC 1 Pass‑Through Rate, in the alternativeinitial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G‑1(a)(4)(iii), the “Lowerlatest possible maturity date” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass‑Through Rate Assumed Final Maturity Date1 IX $106,361,612.42 Variable2 June 25, 2049 I-1-Tier REMICA $1,348,397.90 Variable2 June 25, 2049 I-1-B $1,348,397.90 Variable2 June 25, 2049 I-2-B $1,861,863.41 Variable2 June 25, 2049 I-3-A $2,227,745.88 Variable2 June 25, 2049 I-3-B $2,227,745.88 Variable2 June 25, 2049 I-4-A $2,545,266.32 Variable2 June 25, 2049 I-4-B $2,545,266.32 Variable2 June 25, 2049 I-5-A $723,545.74 Variable2 June 25, 2049 I-5-B $723,545.74 Variable2 June 25, 2049 I-6-B $1,082,677.45 Variable2 June 25, 2049 I-7-B $1,441,380.17 Variable2 June 25, 2049 I-8-B $1,746,004.98 Variable2 June 25, 2049 I-9-A $2,105,931.74 Variable2 June 25, 2049 I-9-B $2,105,931.74 Variable2 June 25, 2049 I-10-A $2,533,712.22 Variable2 June 25, 2049 I-10-B $2,533,712.22 Variable2 June 25, 2049 I-11-A $3,406,188.19 Variable2 June 25, 2049 I-11-B $3,406,188.19 Variable2 June 25, 2049 I-12-A $4,334,340.34 Variable2 June 25, 2049 I-12-B $4,334,340.34 Variable2 June 25, 2049 I-13-A $4,852,984.06 Variable2 June 25, 2049 I-13-B $4,852,984.06 Variable2 June 25, 2049 I-14-A $4,672,776.39 Variable2 June 25, 2049 I-14-B $4,672,776.39 Variable2 June 25, 2049 I-15-A $4,387,117.28 Variable2 June 25, 2049 I-15-B $4,387,117.28 Variable2 June 25, 2049 I-16-A $4,147,591.40 Variable2 June 25, 2049 I-16-B $4,147,591.40 Variable2 June 25, 2049 I-17-A $3,940,721.29 Variable2 June 25, 2049 I-17-B $3,940,721.29 Variable2 June 25, 2049 I-18-A $3,753,148.02 Variable2 June 25, 2049 I-18-B $3,753,148.02 Variable2 June 25, 2049 I-19-A $3,558,777.18 Variable2 June 25, 2049 I-19-B $3,558,777.18 Variable2 June 25, 2049 I-20-A $3,377,959.89 Variable2 June 25, 2049 I-20-B $3,377,959.89 Variable2 June 25, 2049 I-21-A $3,284,852.18 Variable2 June 25, 2049 I-21-B $3,284,852.18 Variable2 June 25, 2049 I-22-B $48,378,425.23 Variable2 June 25, 2049 I-23-A $2,867,552.29 Variable2 June 25, 2049 I-23-B $2,867,552.29 Variable2 June 25, 2049 I-24-A $5,185,015.97 Variable2 June 25, 2049 I-24-B $5,185,015.97 Variable2 June 25, 2049 I-25-A $4,533,354.61 Variable2 June 25, 2049 I-25-B $4,533,354.61 Variable2 June 25, 2049 I-26-A $3,642,638.38 Variable2 June 25, 2049 I-26-B $3,642,638.38 Variable2 June 25, 2049 I-27-A $3,095,343.02 Variable2 June 25, 2049 I-27-B $3,095,343.02 Variable2 June 25, 2049 I-28-A $2,690,721.15 Variable2 June 25, 2049 I-28-B $2,690,721.15 Variable2 June 25, 2049 I-29-A $2,399,999.24 Variable2 June 25, 2049 I-29-B $2,399,999.24 Variable2 June 25, 2049 I-30-A $2,162,807.51 Variable2 June 25, 2049 I-30-B $2,162,807.51 Variable2 June 25, 2049 I-31-B $1,990,321.67 Variable2 June 25, 2049 I-32-B $1,912,992.96 Variable2 June 25, 2049 I-33-A $1,881,677.47 Variable2 June 25, 2049 I-33-B $1,881,677.47 Variable2 June 25, 2049 I-34-A $1,844,575.84 Variable2 June 25, 2049 I-34-B $1,844,575.84 Variable2 June 25, 2049 I-35-A $31,514.72 Variable2 June 25, 2049 I-35-B $31,514.72 Variable2 June 25, 2049 I-36-A $2,600,299.44 Variable2 June 25, 2049 I-36-B $2,600,299.44 Variable2 June 25, 2049 I-37-A $1,785,497.84 Variable2 June 25, 2049 I-37-B $1,785,497.84 Variable2 June 25, 2049 I-38-A $1,555,630.52 Variable2 June 25, 2049 I-38-B $1,555,630.52 Variable2 June 25, 2049 I-39-A $1,443,895.58 Variable2 June 25, 2049 I-39-B $1,443,895.58 Variable2 June 25, 2049 I-40-A $1,327,412.48 Variable2 June 25, 2049 I-40-B $1,327,412.48 Variable2 June 25, 2049 I-41-A $1,245,684.10 Variable2 June 25, 2049 I-41-B $1,245,684.10 Variable2 June 25, 2049 I-42-A $1,177,569.28 Variable2 June 25, 2049 I-42-B $1,177,569.28 Variable2 June 25, 2049 I-43-A $1,093,878.04 Variable2 June 25, 2049 I-43-B $1,093,878.04 Variable2 June 25, 2049 I-44-A $1,051,497.02 Variable2 June 25, 2049 I-44-B $1,051,497.02 Variable2 June 25, 2049 I-45-A $943,087.80 Variable2 June 25, 2049 I-45-B $943,087.80 Variable2 June 25, 2049 I-46-A $913,555.81 Variable2 June 25, 2049 I-46-B $913,555.81 Variable2 June 25, 2049 I-47-A $880,065.47 Variable2 June 25, 2049 I-47-B $880,065.47 Variable2 June 25, 2049 I-48-A $852,638.50 Variable2 June 25, 2049 I-48-B $852,638.50 Variable2 June 25, 2049 I-49-A $827,554.66 Variable2 June 25, 2049 I-49-B $827,554.66 Variable2 June 25, 2049 I-50-A $811,670.30 Variable2 June 25, 2049 I-50-B $811,670.30 Variable2 June 25, 2049 I-51-A $791,255.40 Variable2 June 25, 2049 I-51-B $791,255.40 Variable2 June 25, 2049 I-52-A $770,730.12 Variable2 June 25, 2049 I-52-B $770,730.12 Variable2 June 25, 2049 I-53-A $750,232.43 Variable2 June 25, 2049 I-53-B $750,232.43 Variable2 June 25, 2049 I-54-A $729,909.10 Variable2 June 25, 2049 I-54-B $729,909.10 Variable2 June 25, 2049 I-55-A $710,257.48 Variable2 June 25, 2049 I-55-B $710,257.48 Variable2 June 25, 2049 I-56-A $683,191.97 Variable2 June 25, 2049 I-56-B $683,191.97 Variable2 June 25, 2049 I-57-A $654,911.82 Variable2 June 25, 2049 I-57-B $654,911.82 Variable2 June 25, 2049 I-58-A $625,382.96 Variable2 June 25, 2049 I-58-B $625,382.96 Variable2 June 25, 2049 I-59-A $19,570,047.53 Variable2 June 25, 2049 I-59-B $19,570,047.53 Variable2 June 25, 2049 IIX $148,019,355.03 Variable2 June 25, 2049 II-1-A $1,876,511.60 Variable2 June 25, 2049 II-1-B $1,876,511.60 Variable2 June 25, 2049 II-2-A $2,591,081.09 Variable2 June 25, 2049 II-2-B $2,591,081.09 Variable2 June 25, 2049 II-3-A $3,100,265.12 Variable2 June 25, 2049 II-3-B $3,100,265.12 Variable2 June 25, 2049 II-4-A $3,542,145.68 Variable2 June 25, 2049 II-4-B $3,542,145.68 Variable2 June 25, 2049 II-5-A $1,006,929.76 Variable2 June 25, 2049 II-5-B $1,006,929.76 Variable2 June 25, 2049 II-6-A $1,506,719.05 Variable2 June 25, 2049 II-6-B $1,506,719.05 Variable2 June 25, 2049 II-7-A $2,005,911.33 Variable2 June 25, 2049 II-7-B $2,005,911.33 Variable2 June 25, 2049 II-8-A $2,429,845.52 Variable2 June 25, 2049 II-8-B $2,429,845.52 Variable2 June 25, 2049 II-9-A $2,930,741.26 Variable2 June 25, 2049 II-9-B $2,930,741.26 Variable2 June 25, 2049 II-10-A $3,526,066.28 Variable2 June 25, 2049 II-10-B $3,526,066.28 Variable2 June 25, 2049 II-11-A $4,740,256.31 Variable2 June 25, 2049 II-11-B $4,740,256.31 Variable2 June 25, 2049 II-12-A $6,031,928.66 Variable2 June 25, 2049 II-12-B $6,031,928.66 Variable2 June 25, 2049 II-13-A $6,753,704.44 Variable2 June 25, 2049 II-13-B $6,753,704.44 Variable2 June 25, 2049 II-14-A $6,502,916.61 Variable2 June 25, 2049 II-14-B $6,502,916.61 Variable2 June 25, 2049 II-15-A $6,105,376.22 Variable2 June 25, 2049 II-15-B $6,105,376.22 Variable2 June 25, 2049 II-16-A $5,772,037.60 Variable2 June 25, 2049 II-16-B $5,772,037.60 Variable2 June 25, 2049 II-17-A $5,484,144.71 Variable2 June 25, 2049 II-17-B $5,484,144.71 Variable2 June 25, 2049 II-18-A $5,223,106.48 Variable2 June 25, 2049 II-18-B $5,223,106.48 Variable2 June 25, 2049 II-19-A $4,952,608.32 Variable2 June 25, 2049 II-19-B $4,952,608.32 Variable2 June 25, 2049 II-20-A $4,700,972.11 Variable2 June 25, 2049 II-20-B $4,700,972.11 Variable2 June 25, 2049 II-21-A $4,571,397.82 Variable2 June 25, 2049 II-21-B $4,571,397.82 Variable2 June 25, 2049 II-22-A $67,326,325.77 Variable2 June 25, 2049 II-22-B $67,326,325.77 Variable2 June 25, 2049 II-23-A $3,990,658.21 Variable2 June 25, 2049 II-23-B $3,990,658.21 Variable2 June 25, 2049 II-24-A $7,215,780.03 Variable2 June 25, 2049 II-24-B $7,215,780.03 Variable2 June 25, 2049 II-25-A $6,308,888.89 Variable2 June 25, 2049 II-25-B $6,308,888.89 Variable2 June 25, 2049 II-26-A $5,069,314.62 Variable2 June 25, 2049 II-26-B $5,069,314.62 Variable2 June 25, 2049 II-27-A $4,307,665.48 Variable2 June 25, 2049 II-27-B $4,307,665.48 Variable2 June 25, 2049 II-28-A $3,744,569.35 Variable2 June 25, 2049 II-28-B $3,744,569.35 Variable2 June 25, 2049 II-29-A $3,339,983.26 Variable2 June 25, 2049 II-29-B $3,339,983.26 Variable2 June 25, 2049 II-30-A $3,009,892.99 Variable2 June 25, 2049 II-30-B $3,009,892.99 Variable2 June 25, 2049 II-31-B $2,769,851.33 Variable2 June 25, 2049 II-32-A $2,662,236.04 Variable2 June 25, 2049 II-32-B $2,662,236.04 Variable2 June 25, 2049 II-33-A $2,618,655.53 Variable2 June 25, 2049 II-33-B $2,618,655.53 Variable2 June 25, 2049 II-34-A $2,567,022.66 Variable2 June 25, 2049 II-34-B $2,567,022.66 Variable2 June 25, 2049 II-35-A $43,857.78 Variable2 June 25, 2049 II-35-B $43,857.78 Variable2 June 25, 2049 II-36-A $3,618,733.06 Variable2 June 25, 2049 II-36-B $3,618,733.06 Variable2 June 25, 2049 II-37-A $2,484,806.16 Variable2 June 25, 2049 II-37-B $2,484,806.16 Variable2 June 25, 2049 II-38-A $2,164,908.98 Variable2 June 25, 2049 II-38-B $2,164,908.98 Variable2 June 25, 2049 II-39-A $2,009,411.92 Variable2 June 25, 2049 II-39-B $2,009,411.92 Variable2 June 25, 2049 II-40-A $1,847,307.02 Variable2 June 25, 2049 II-40-B $1,847,307.02 Variable2 June 25, 2049 II-41-A $1,733,568.90 Variable2 June 25, 2049 II-41-B $1,733,568.90 Variable2 June 25, 2049 II-42-A $1,638,776.22 Variable2 June 25, 2049 II-42-B $1,638,776.22 Variable2 June 25, 2049 II-43-A $1,522,306.46 Variable2 June 25, 2049 II-43-B $1,522,306.46 Variable2 June 25, 2049 II-44-A $1,463,326.48 Variable2 June 25, 2049 II-44-B $1,463,326.48 Variable2 June 25, 2049 II-45-A $1,312,457.70 Variable2 June 25, 2049 II-45-B $1,312,457.70 Variable2 June 25, 2049 II-46-B $1,271,359.19 Variable2 June 25, 2049 II-47-A $1,224,752.03 Variable2 June 25, 2049 II-47-B $1,224,752.03 Variable2 June 25, 2049 II-48-A $1,186,583.00 Variable2 June 25, 2049 II-48-B $1,186,583.00 Variable2 June 25, 2049 II-49-A $1,151,674.84 Variable2 June 25, 2049 II-49-B $1,151,674.84 Variable2 June 25, 2049 II-50-A $1,129,569.20 Variable2 June 25, 2049 II-50-B $1,129,569.20 Variable2 June 25, 2049 II-51-A $1,101,158.60 Variable2 June 25, 2049 II-51-B $1,101,158.60 Variable2 June 25, 2049 II-52-A $1,072,594.38 Variable2 June 25, 2049 II-52-B $1,072,594.38 Variable2 June 25, 2049 II-53-A $1,044,068.57 Variable2 June 25, 2049 II-53-B $1,044,068.57 Variable2 June 25, 2049 II-54-A $1,015,785.40 Variable2 June 25, 2049 II-54-B $1,015,785.40 Variable2 June 25, 2049 II-55-A $988,437.02 Variable2 June 25, 2049 II-55-B $988,437.02 Variable2 June 25, 2049 II-56-A $950,771.03 Variable2 June 25, 2049 II-56-B $950,771.03 Variable2 June 25, 2049 II-57-A $911,414.68 Variable2 June 25, 2049 II-57-B $911,414.68 Variable2 June 25, 2049 II-58-A $870,320.54 Variable2 June 25, 2049 II-58-B $870,320.54 Variable2 June 25, 2049 II-59-A $27,234,854.97 Variable2 June 25, 2049 II-59-B $27,234,854.97 Variable2 June 25, 2049 P 100.00 Variable2 June 25, 2049 1 Solely for purposes of Section 1.860G‑1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass‑Through Rate” herein. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 1 Regular Interests and certain other related assets subject to this Agreement (exclusive of the Reserve Fund, the Supplemental Interest Trust, the Final Maturity Reserve Trust, the Interest Coverage Account and the Servicer Prepayment Charge Payment Amounts) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “UpperREMIC 2.” The Class R‑2 Interest shall represent the sole class of “residual interests” in REMIC 2 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 2 Pass-Tier REMIC”Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 2 Regular Interests. Each CertificateNone of the REMIC 2 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 2 Pass-Through Rate Assumed Final Maturity Date1 AA $564,690,284.21 ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇, other than the Class ▇▇▇▇ ▇-▇▇ $1,862,375.00 Variable2 June 25, 2049 A-R Certificate and the Class IIA1 $742,150.00 Variable2 June 25, 2049 A-RIIA2 $257,090.00 Variable2 June 25, 2049 A-II CertificateIIA3 $427,255.00 Variable2 June 25, shall represent ownership 2049 A-IIA4 $165,295.00 Variable2 June 25, 2049 A-IIA5 $1,000,000.00 Variable2 June 25, 2049 M1 $267,940.00 Variable2 June 25, 2049 M2 $187,270.00 Variable2 June 25, 2049 M3 $109,480.00 Variable2 June 25, 2049 M4 $95,075.00 Variable2 June 25, 2049 M5 $95,075.00 Variable2 June 25, 2049 M6 $74,910.00 Variable2 June 25, 2049 M7 $80,670.00 Variable2 June 25, 2049 M8 $54,740.00 Variable2 June 25, 2049 M9 $80,670.00 Variable2 June 25, 2049 ZZ $6,024,296.51 Variable2 June 25, 2049 1GRP $10,937.83 Variable2 June 25, 2049 1SUB $48,185.33 Variable2 June 25, 2049 2GRP $15,221.80 Variable2 June 25, 2049 2SUB $67,057.60 Variable2 June 25, 2049 Swap IO N/A3 Variable2 June 25, 2049 FMR IO N/A4 Variable2 June 25, 2049 XX Variable2 June 25, 2049 1 Solely for purposes of a regular interest Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Uppermonth following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC 2 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 2 Pass-Tier REMICThrough Rate” herein. 3 REMIC 2 Regular Interest Swap IO will not have a principal amount but will accrue interest on its Uncertificated Notional Amount, as described defined herein. In addition4 REMIC 2 Regular Interest FMR IO will not have a principal amount but will at all times have a notional amount equal to the aggregate principal amounts of all of the REMIC 1 Regular Interests. As provided herein, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent Trustee shall make an election to treat the right to receive payments in respect segregated pool of Basis Risk Shortfalls from assets consisting of the Basis Risk Reserve Fund REMIC 2 Regular Interests as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Ba REMIC for federal income tax purposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets shall be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 3.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate R‑3 Interest represents the sole class of “residual interest interests” in REMIC 3 for purposes of the Upper-Tier REMIC and Provisions. The following table sets forth (or describes) the Class Adesignation, Pass-R-II Through Rate and Original Class Certificate Principal Balance for each Class of Certificates that represents one or more of the sole “regular interests” in REMIC 3 and each class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.“
Appears in 1 contract
Sources: Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 4 Mortgage Loan Pass-Through Certificates, Series 2005-5 4 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen sixteen classes of certificates, designated as (i) the Class 1-A-1A A Certificates, (ii) the Class 12-A-1B A Certificates, (iii) the Class 23-A-1A A1 Certificates, (iv) the Class 23-A-1B A2 Certificates, (v) the Class 24-A-1C A Certificates, (vi) the Class X-1 5-A Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (viii) the Class B-1 Certificates, (ix) the Class B-2 Certificates, (x) the Class B-3 Certificates, (xi)) the Class B-4 Certificates, (xii) the Class B-5 Certificates, (xiii) the Class B-6 Certificates, (xiv) the Class B-7 Certificates, (xv) the Class P Certificate and (xvi) the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesCertificate. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the P, Class A-R-II Certificateand Class A-R Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the REMIC. The Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund (other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Additional Collateral) and the interests in the Lower-Tier any REMIC formed hereby. The Upper Upper-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The following table specifies the Class designation, interest rate, and initial Class Principal Amount for each Class of Lower-Tier REMIC Interest: Lower-Tier REMIC Class Designation Interest Rate Initial Class Principal Balance Corresponding Class of Certificates Class LT-Group 1 (3) (2) Group 1 Class LT-SC1 (3) (1) Group 1 Class LT-Group 2 (3) (2) Group 2 Class LT-SC2 (3) (1) Group 2 Class LT-Group 3 (3) (2) Group 3 Class LT-SC3 (3) (1) Group 3 Class LT-Group 4 (3) (2) Group 4 Class LT-SC4 (3) (1) Group 4 Class LT-Group 5 (3) (2) Group 5 Class LT-SC5 (3) (1) Group 5 Class LT-R (4) (4) N/A __________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2005-4)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052007-5 3 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist of nineteen seventeen classes of certificates, designated as (i) the Class 1-A-1A 1A-1A Certificates, (ii) the Class 1-A-1B 2A-1A Certificates, (iii) the Class 2-A-1A 2A-1B Certificates, (iv) the Class 2-A-1B 2A-1C Certificates, (v) the Class 2-A-1C B-1 Certificates, (vi) the Class X-1 B-2 Certificates, (vii) the Class X-2 B-3 Certificates, (viii) the Class PO-1 B-4 Certificates, (ix) the Class PO-2 B-5 Certificates, (x) the Class A-R B-6 Certificates, (xi), ) the Class A-R-II B-7 Certificates, (xii) the Class P B-8 Certificates, (xiii) the Class B-1 B-9 Certificates, (xiv) the Class B-2 C Certificates, (xv) the Class B-3 P Certificates, (xvi) the Class B-4 Certificates, ES Certificates and (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Prefunding Account, the Capitalized Interest Account, the Basis Risk Reserve Fund and Fund, the the Yield Maintenance Trust, the Yield Maintenance Trust Account, the Yield Maintenance Account, the Yield Maintenance Agreement, the Collateral Account, the Final Maturity Reserve Trust and the Final Maturity Reserve Account and the Yield Maintenance AgreementsClass ES Distributable Amount (the “Excluded Trust Property”)) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, comprises three REMICs in a “REMIC” or, in the alternative, tiered REMIC structure: the “Lower-Tier REMIC,” the “Middle-Tier REMIC,” and the “Upper-Tier REMIC”). .” Each Certificate, other than the Class A-ES and Class R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 The LIBOR Certificates also represent the right to receive (i) payments in respect of Basis Risk Shortfalls from the Basis Risk Final Maturity Reserve Fund Account, as provided in Section 5.07 section 5.01(g), and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.045.01(h) or the Basis Risk Reserve Fund as provided in section 5.07. The owners of the Class X-1 and Class X-2 C Certificates beneficially own the Basis Risk Reserve Fund Fund, the Final Maturity Reserve Account, the Final Maturity Reserve Trust, the Yield Maintenance Trust Account, and the Yield Maintenance Account. The Class P Certificate represents an interest in R Certificates represent the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole only class of residual interest interests in the Upper-Tier REMIC, as well as the only residual interests in each of the Lower-Tier REMIC and the Class AMiddle-RTier REMIC. The Lower-II Certificate represents Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and will issue five uncertificated interests, four of which shall be the “Lower-Tier Regular Interests” and one residual interest (the “LT-R Interest”), which will represent the sole class of residual interest in the Lower-Tier REMIC. The Middle-Tier REMIC will hold as its assets all of the Lower-Tier Regular Interests and shall issue 18 uncertificated interests, 17 of which shall be the “Middle- Tier Regular Interests” and one residual interest (the “MT-R Interest”), which will represent the sole class of residual interest in the Middle-Tier REMIC. The Upper-Tier REMIC will hold as its assets all of the Middle-Tier Regular Interests and shall issue the Certificates. For purposes of the REMIC Provisions, the startup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. Lower-Tier REMIC shall hold as assets all property of The following table sets forth (or describes) the Trust Fund other than the assets held in the Basis Risk Reserve Funddesignation, the Yield Maintenance Account, the Yield Maintenance Agreementsinterest rate, and the interests in the initial principal balance of each Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets Regular Interest and the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A: Designation Interest Rate Initial Principal Balance LT-RInitial (1) $ 514,574,359.31 LT-II Certificate. Each such LowerSubsequent (2) $ 362,139,724.00 LT-Tier Interest is hereby designated as a REMIC regular interest.C (3) (3) LT-I (4) (4) LT-R (5) (5)
Appears in 1 contract
Sources: Pooling and Servicing Agreement (HarborView 2007-3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052007-5 7 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist of nineteen seventeen classes of certificates, designated as (i) the Class 1-A-1A 1A-1A Certificates, (ii) the Class 1-A-1B 2A-1A Certificates, (iii) the Class 2-A-1A 2A-1B Certificates, (iv) the Class 2-A-1B 2A-1C Certificates, (v) the Class 2-A-1C B-1 Certificates, (vi) the Class X-1 B-2 Certificates, (vii) the Class X-2 B-3 Certificates, (viii) the Class PO-1 B-4 Certificates, (ix) the Class PO-2 B-5 Certificates, (x) the Class A-R B-6 Certificates, (xi), ) the Class A-R-II B-7 Certificates, (xii) the Class P B-8 Certificates, (xiii) the Class B-1 B-9 Certificates, (xiv) the Class B-2 C Certificates, (xv) the Class B-3 P Certificates, (xvi) the Class B-4 Certificates, R Certificates and (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 ES Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Prefunding Account, the Capitalized Interest Account, the Basis Risk Reserve Fund Fund, the Basis Risk Cap Agreement, the Basis Risk Cap Replacement Receipts Account, the Basis Risk Cap Account, the Basis Risk Cap Amount, the Class ES Distributable Amount, the Swap Agreement, the Swap Account, the Swap Amount, the Swap Replacement Receipts Account, the Swap Termination Receipts Account, the Supplemental Interest Trust, the Collateral Account, the Final Maturity Reserve Trust and the Yield Maintenance Final Maturity Reserve Account and (the Yield Maintenance Agreements“Excluded Trust Property”)) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, comprises four REMICs in a “REMIC” or, in the alternative, tiered REMIC structure: the “Lower-Tier REMIC,” the “Middle-Tier REMIC 1,” the “Middle-Tier REMIC 2,” and the “Upper-Tier REMIC”). .” Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateES Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 The LIBOR Certificates also represent the right to receive (i) payments in respect of the Final Maturity Reserve Account, as provided in section 5.01(g), (ii) payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and 5.07, (iiiii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Basis Risk Cap Account as provided in Section 4.045.01(j), (iii) payments in respect of Basis Risk Shortfalls from the Supplemental Interest Trust as provided in Section 5.01(k), and (iv) the obligation to pay Class I Shortfalls. The owners of the Class X-1 and Class X-2 C Certificates beneficially own the Basis Risk Reserve Fund Fund, the Basis Risk Cap Account, the Supplemental Interest Trust, the Swap Account, the Final Maturity Reserve Account, and the Yield Maintenance AccountFinal Maturity Reserve Trust. The Class P Certificate represents an interest R Certificates represent the only classes of residual interests in each REMIC created hereby. The Upper Tier REMIC shall hold as its assets the uncertificated interests in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the UpperMiddle-Tier REMIC and 2 other than the Class AMT2-RR interest (each, a “Middle-II Certificate represents Tier REMIC 2 Regular Interest”), and each such Middle-Tier REMIC 2 Regular Interest is hereby designated as a regular interest in Middle-Tier REMIC 2 for purposes of the sole class of residual REMIC Provisions. Middle-Tier REMIC 2 shall hold as its assets the uncertificated interests in Middle-Tier REMIC 1 other than the Class MT1-R interest (each a “Middle-Tier REMIC 1 Regular Interest”), and each such Middle-Tier REMIC 1 Regular Interest is hereby designated as a regular interest in Middle-Tier REMIC 1. Middle-Tier REMIC 1 shall hold as its assets the uncertificated interests in the Lower-Tier REMIC other than the Class LT-R interest (each a “Lower-Tier REMIC Regular Interest”), and each such Lower-Tier REMIC Regular Interest is hereby designated as a regular interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as its assets all the property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Excluded Trust Property and the interests in any other REMIC created hereby. For purposes of the REMIC Provisions, the startup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. The following table sets forth (or describes) the designation, interest rate, and initial principal balance of each Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets Regular Interests and the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A: LT-RInitial (1) $ 1,577,396,956.28 LT-II Certificate. Each such LowerSubsequent (2) $ 65,972,926.34 LT-Tier Interest is hereby designated as a REMIC regular interest.C (3) (3) LT-I (4) (4) LT-R (5) (5)
Appears in 1 contract
Sources: Pooling and Servicing Agreement (HarborView 2007-7)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2III-A-1A A-1 Certificates, (iv) the Class 2III-A-1B A-2 Certificates, (v) the Class 2III-A-1C A-3 Certificates, (vi) the Class X-1 III-A-4 Certificates, (vii) the Class X-2 M-1 Certificates, (viii) the Class PO-1 M-2 Certificates, (ix) the Class PO-2 M-3 Certificates, (x) the Class A-R M-4 Certificates, (xi), ) the Class A-R-II M-5 Certificates, (xii) the Class P M-6 Certificates, (xiii) the Class B-1 M-7 Certificates, (xiv) the Class B-2 M-8 Certificates, (xv) the Class B-3 M-9 Certificates, (xvi) the Class B-4 M-10 Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 Certificates and P Certificates, (xix) the Class B-7 R Certificates, (xx) the Class R-X Certificates and (xxi) the Class X Certificates. As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, the Basis Risk Reserve Fund Cap Agreement, the Interest Rate Cap Agreement, the Cap Account, the Cap Allocation Agreement, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable (2) $248,047,653.90 February 25, 2037 I-1-II Certificate. Each such LowerB Variable (2) $ 17,276,686.25 February 25, 2037 I-2-Tier Interest is hereby designated as a REMIC regular interest.B Variable (2) $ 16,629,331.25 February 25, 2037 I-5-B Variable (2) $ 14,987,502.50 February 25, 2037 I-8-B Variable (2) $ 14,181,662.50 February 25, 2037 I-11-B Variable (2) $113,297,597.50 February 25, 2037 I-13-B Variable (2) $ 7,457,386.25 February 25, 2037 I-15-B Variable (2) $ 4,538,531.25 February 25, 2037 I-19-B Variable (2) $ 2,749,255.00 February 25, 2037 I-21-B Variable (2) $ 2,729,768.75 February 25, 2037 I-24-B Variable (2) $ 3,128,412.50 February 25, 2037 I-25-B Variable (2) $ 2,039,992.50 February 25, 2037 I-26-B Variable (2) $ 1,962,206.25 February 25, 2037 I-27-B Variable (2) $ 1,887,561.25 February 25, 2037 I-29-B Variable (2) $ 1,747,165.00 February 25, 2037 I-30-B Variable (2) $ 1,681,166.25 February 25, 2037 I-38-B Variable (2) $ 1,239,547.50 February 25, 2037 I-39-B Variable (2) $ 1,193,711.25 February 25, 2037 I-40-B Variable (2) $ 1,149,673.75 February 25, 2037 I-41-B Variable (2) $ 1,107,361.25 February 25, 2037 I-42-A Variable (2) $ 1,066,702.50 February 25, 2037 I-42-B Variable (2) $ 1,066,702.50 February 25, 2037 I-43-B Variable (2) $ 1,027,631.25 February 25, 2037 I-44-A Variable (2) $ 990,077.50 February 25, 2037 I-44-B Variable (2) $ 990,077.50 February 25, 2037 I-45-A Variable (2) $ 974,156.25 February 25, 2037 I-45-B Variable (2) $ 974,156.25 February 25, 2037 I-47-B Variable (2) $ 3,458,390.00 February 25, 2037 I-48-B Variable (2) $ 3,019,526.25 February 25, 2037 I-49-A Variable (2) $ 585,267.50 February 25, 2037 I-49-B Variable (2) $ 585,267.50 February 25, 2037 I-50-A Variable (2) $ 566,808.75 February 25, 2037 I-50-B Variable (2) $ 566,808.75 February 25, 2037 I-51-B Variable (2) $ 17,964,221.25 February 25, 2037 P Variable (2) $ 100.00 February 25, 2037 ________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Wmc1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Provident Funding Mortgage Loan Trust 2005-5 2, Mortgage Loan Pass-Through Certificates, Series 2005-5 2 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen thirteen classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 23-A-1C A Certificates, (vi) the Class X-1 4-A Certificates, (vii) the Class X-2 CertificatesA-R Certificate, (viii) the Class PO-1 B-1 Certificates, (ix) the Class PO-2 B-2 Certificates, (x) the Class A-R B-3 Certificates, (xi), ) the Class A-R-II B-4 Certificates, (xii) the Class P Certificates, B-5 Certificates and (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee Securities Administrator shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, each a “REMIC” or, in the alternative, the “Lower-Lower Tier REMIC” and the “Upper-Upper Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent represents ownership of a regular interest in the Upper-Upper Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners REMIC for purposes of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunderProvisions. The Class A-R Certificate represents ownership of the sole class of residual interest in each of the Upper-Lower Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Upper Tier REMIC shall hold as assets all property for purposes of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed herebyProvisions. The Upper Tier REMIC shall hold as its assets the several classes of uncertificated Lower-Lower Tier REMIC InterestsInterests in the Lower Tier REMIC, other than the Class LT-A-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each and each such Lower-Lower Tier Interest is hereby designated as a regular interest in the Lower Tier REMIC for purposes of the REMIC Provisions. The Lower Tier REMIC shall hold as its assets the property of the Trust Fund. For purposes of the REMIC Provisions, the startup day is the Closing Date. All REMIC regular interest.and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. The following table sets forth (or describes) the Class designation, Pass-Through Rate and original class principal balance for each Class of interests in the Lower Tier REMIC (each of which, except for the LT-A-R Interest, is hereby designated a REMIC regular interest for purposes of the REMIC Provisions), each such Class a “Lower Tier Interest” comprising the interests in the Trust Fund created hereunder: LT-Group 1 (6) (1) Group 1 LT-SC1 (5) (1) Group 1 LT-Group 2 (6) (2) Group 2 LT-SC2 (5) (2) Group 2 LT-Group 3 (6) (3) Group 3 LT-SC3 (5) (3) Group 3 LT-Group 4 (6) (4) Group 4 LT-SC4 (5) (4) Group 4 LT-A-R (7) (7) N/A
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass‑through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderTrust. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1I-A-1A A Certificates, (ii) the Class 1II-A-1B A1 Certificates, (iii) the Class 2II-A-1A A2 Certificates, (iv) the Class 2II-A-1B A3 Certificates, (v) the Class 2-A-1C II‑A4 Certificates, (vi) the Class X-1 M‑1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M‑4 Certificates, (x) the Class A-R M‑5 Certificates, (xi), ) the Class A-R-II M‑6 Certificates, (xii) the Class P M‑7 Certificates, (xiii) the Class B-1 M‑8 Certificates, (xiv) the Class B-2 M‑9 Certificates, (xv) the Class B-3 B-1 Certificates, (xvi) the Class B-4 B-2 Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 Certificates and P Certificates, (xix) the Class B-7 R Certificates, (xx) the Class R‑CX Certificates and (xxi) the Class R‑PX Certificates. As provided herein, the Trustee shall elect that make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Reserve Fund, the Basis Risk Supplemental Interest Trust, the Final Maturity Reserve Fund Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsServicer Prepayment Charge Payment Amounts) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets will be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R‑1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass‑Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G‑1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC 1 Regular Interests. None of the REMIC 1 Regular Interests will be certificated. Designation Initial Uncertificated Principal Balance Uncertificated REMIC 1 Pass‑Through Rate Assumed Final Maturity Date1 IX $101,138,317.07 Variable2 February 25, 2047 I-1-A $1,976,497.61 Variable2 February 25, 2047 I-1-B $1,976,497.61 Variable2 February 25, 2047 I-2-A $2,342,938.63 Variable2 February 25, 2047 I-2-B $2,342,938.63 Variable2 February 25, 2047 I-3-A $2,695,427.71 Variable2 February 25, 2047 I-3-B $2,695,427.71 Variable2 February 25, 2047 I-4-A $3,021,261.47 Variable2 February 25, 2047 I-4-B $3,021,261.47 Variable2 February 25, 2047 I-5-A $1,274,974.07 Variable2 February 25, 2047 I-5-B $1,274,974.07 Variable2 February 25, 2047 I-6-A $1,646,173.30 Variable2 February 25, 2047 I-6-B $1,646,173.30 Variable2 February 25, 2047 I-7-A $2,138,264.99 Variable2 February 25, 2047 I-7-B $2,138,264.99 Variable2 February 25, 2047 I-8-A $2,594,708.68 Variable2 February 25, 2047 I-8-B $2,594,708.68 Variable2 February 25, 2047 I-9-A $3,152,746.30 Variable2 February 25, 2047 I-9-B $3,152,746.30 Variable2 February 25, 2047 I-10-A $3,781,774.57 Variable2 February 25, 2047 I-10-B $3,781,774.57 Variable2 February 25, 2047 I-11-A $4,512,532.01 Variable2 February 25, 2047 I-11-B $4,512,532.01 Variable2 February 25, 2047 I-12-A $4,832,087.73 Variable2 February 25, 2047 I-12-B $4,832,087.73 Variable2 February 25, 2047 I-13-A $4,608,484.07 Variable2 February 25, 2047 I-13-B $4,608,484.07 Variable2 February 25, 2047 I-14-A $4,304,157.41 Variable2 February 25, 2047 I-14-B $4,304,157.41 Variable2 February 25, 2047 I-15-A $4,039,023.82 Variable2 February 25, 2047 I-15-B $4,039,023.82 Variable2 February 25, 2047 I-16-A $3,810,029.91 Variable2 February 25, 2047 I-16-B $3,810,029.91 Variable2 February 25, 2047 I-17-A $3,623,627.81 Variable2 February 25, 2047 I-17-B $3,623,627.81 Variable2 February 25, 2047 I-18-A $3,449,757.66 Variable2 February 25, 2047 I-18-B $3,449,757.66 Variable2 February 25, 2047 I-19-A $3,737,594.65 Variable2 February 25, 2047 I-19-B $3,737,594.65 Variable2 February 25, 2047 I-20-A $4,763,180.83 Variable2 February 25, 2047 I-20-B $4,763,180.83 Variable2 February 25, 2047 I-21-A $3,282,772.80 Variable2 February 25, 2047 I-21-B $3,282,772.80 Variable2 February 25, 2047 I-22-B $31,333,137.22 Variable2 February 25, 2047 I-23-A $5,488,334.59 Variable2 February 25, 2047 I-23-B $5,488,334.59 Variable2 February 25, 2047 I-24-A $4,674,467.52 Variable2 February 25, 2047 I-24-B $4,674,467.52 Variable2 February 25, 2047 I-25-A $3,747,564.73 Variable2 February 25, 2047 I-25-B $3,747,564.73 Variable2 February 25, 2047 I-26-A $3,166,355.18 Variable2 February 25, 2047 I-26-B $3,166,355.18 Variable2 February 25, 2047 I-27-A $2,757,835.36 Variable2 February 25, 2047 I-27-B $2,757,835.36 Variable2 February 25, 2047 I-28-A $2,478,833.82 Variable2 February 25, 2047 I-28-B $2,478,833.82 Variable2 February 25, 2047 I-29-A $2,241,695.51 Variable2 February 25, 2047 I-29-B $2,241,695.51 Variable2 February 25, 2047 I-30-A $2,064,783.39 Variable2 February 25, 2047 I-30-B $2,064,783.39 Variable2 February 25, 2047 I-31-B $1,939,844.60 Variable2 February 25, 2047 I-32-B $1,991,370.40 Variable2 February 25, 2047 I-33-A $2,013,524.92 Variable2 February 25, 2047 I-33-B $2,013,524.92 Variable2 February 25, 2047 I-34-A $2,597,048.52 Variable2 February 25, 2047 I-34-B $2,597,048.52 Variable2 February 25, 2047 I-35-A $401,655.70 Variable2 February 25, 2047 I-35-B $401,655.70 Variable2 February 25, 2047 I-36-A $3,291,212.13 Variable2 February 25, 2047 I-36-B $3,291,212.13 Variable2 February 25, 2047 I-37-B $1,742,280.26 Variable2 February 25, 2047 I-38-A $1,605,057.01 Variable2 February 25, 2047 I-38-B $1,605,057.01 Variable2 February 25, 2047 I-39-A $1,499,167.94 Variable2 February 25, 2047 I-39-B $1,499,167.94 Variable2 February 25, 2047 I-40-A $1,397,876.39 Variable2 February 25, 2047 I-40-B $1,397,876.39 Variable2 February 25, 2047 I-41-A $1,331,702.81 Variable2 February 25, 2047 I-41-B $1,331,702.81 Variable2 February 25, 2047 I-42-A $1,217,669.01 Variable2 February 25, 2047 I-42-B $1,217,669.01 Variable2 February 25, 2047 I-43-A $1,159,369.35 Variable2 February 25, 2047 I-43-B $1,159,369.35 Variable2 February 25, 2047 I-44-A $1,042,510.81 Variable2 February 25, 2047 I-44-B $1,042,510.81 Variable2 February 25, 2047 I-45-A $1,009,992.58 Variable2 February 25, 2047 I-45-B $1,009,992.58 Variable2 February 25, 2047 I-47-B $931,494.69 Variable2 February 25, 2047 I-48-A $913,664.90 Variable2 February 25, 2047 I-48-B $913,664.90 Variable2 February 25, 2047 I-49-A $867,294.92 Variable2 February 25, 2047 I-49-B $867,294.92 Variable2 February 25, 2047 I-50-A $1,081,745.37 Variable2 February 25, 2047 I-50-B $1,081,745.37 Variable2 February 25, 2047 I-51-A $1,029,153.89 Variable2 February 25, 2047 I-51-B $1,029,153.89 Variable2 February 25, 2047 I-52-A $981,918.10 Variable2 February 25, 2047 I-52-B $981,918.10 Variable2 February 25, 2047 I-53-A $934,053.26 Variable2 February 25, 2047 I-53-B $934,053.26 Variable2 February 25, 2047 I-54-A $891,052.27 Variable2 February 25, 2047 I-54-B $891,052.27 Variable2 February 25, 2047 I-55-A $855,927.52 Variable2 February 25, 2047 I-55-B $855,927.52 Variable2 February 25, 2047 I-56-A $811,087.12 Variable2 February 25, 2047 I-56-B $811,087.12 Variable2 February 25, 2047 I-57-A $773,141.44 Variable2 February 25, 2047 I-57-B $773,141.44 Variable2 February 25, 2047 I-58-A $734,282.66 Variable2 February 25, 2047 I-58-B $734,282.66 Variable2 February 25, 2047 I-59-A $16,300,820.82 Variable2 February 25, 2047 I-59-B $16,300,820.82 Variable2 February 25, 2047 IIX $204,739,449.51 Variable2 February 25, 2047 II-1-A $4,001,120.89 Variable2 February 25, 2047 II-1-B $4,001,120.89 Variable2 February 25, 2047 II-2-A $4,742,925.37 Variable2 February 25, 2047 II-2-B $4,742,925.37 Variable2 February 25, 2047 II-3-A $5,456,486.29 Variable2 February 25, 2047 II-3-B $5,456,486.29 Variable2 February 25, 2047 II-4-A $6,116,087.53 Variable2 February 25, 2047 II-4-B $6,116,087.53 Variable2 February 25, 2047 II-5-A $2,580,992.43 Variable2 February 25, 2047 II-5-B $2,580,992.43 Variable2 February 25, 2047 II-6-A $3,332,429.20 Variable2 February 25, 2047 II-6-B $3,332,429.20 Variable2 February 25, 2047 II-7-A $4,328,594.51 Variable2 February 25, 2047 II-7-B $4,328,594.51 Variable2 February 25, 2047 II-8-A $5,252,595.82 Variable2 February 25, 2047 II-8-B $5,252,595.82 Variable2 February 25, 2047 II-9-A $6,382,258.70 Variable2 February 25, 2047 II-9-B $6,382,258.70 Variable2 February 25, 2047 II-10-A $7,655,631.43 Variable2 February 25, 2047 II-10-B $7,655,631.43 Variable2 February 25, 2047 II-11-A $9,134,939.49 Variable2 February 25, 2047 II-11-B $9,134,939.49 Variable2 February 25, 2047 II-12-A $9,781,831.77 Variable2 February 25, 2047 II-12-B $9,781,831.77 Variable2 February 25, 2047 II-13-A $9,329,179.93 Variable2 February 25, 2047 II-13-B $9,329,179.93 Variable2 February 25, 2047 II-14-A $8,713,116.59 Variable2 February 25, 2047 II-14-B $8,713,116.59 Variable2 February 25, 2047 II-15-A $8,176,393.68 Variable2 February 25, 2047 II-15-B $8,176,393.68 Variable2 February 25, 2047 II-16-A $7,712,830.09 Variable2 February 25, 2047 II-16-B $7,712,830.09 Variable2 February 25, 2047 II-17-A $7,335,487.19 Variable2 February 25, 2047 II-17-B $7,335,487.19 Variable2 February 25, 2047 II-18-A $6,983,513.34 Variable2 February 25, 2047 II-18-B $6,983,513.34 Variable2 February 25, 2047 II-19-A $7,566,195.85 Variable2 February 25, 2047 II-19-B $7,566,195.85 Variable2 February 25, 2047 II-20-A $9,642,340.17 Variable2 February 25, 2047 II-20-B $9,642,340.17 Variable2 February 25, 2047 II-21-A $6,645,477.70 Variable2 February 25, 2047 II-21-B $6,645,477.70 Variable2 February 25, 2047 II-22-A $63,429,203.78 Variable2 February 25, 2047 II-22-B $63,429,203.78 Variable2 February 25, 2047 II-23-A $11,110,304.41 Variable2 February 25, 2047 II-23-B $11,110,304.41 Variable2 February 25, 2047 II-24-A $9,462,753.48 Variable2 February 25, 2047 II-24-B $9,462,753.48 Variable2 February 25, 2047 II-25-A $7,586,378.77 Variable2 February 25, 2047 II-25-B $7,586,378.77 Variable2 February 25, 2047 II-26-A $6,409,807.82 Variable2 February 25, 2047 II-26-B $6,409,807.82 Variable2 February 25, 2047 II-27-A $5,582,821.14 Variable2 February 25, 2047 II-27-B $5,582,821.14 Variable2 February 25, 2047 II-28-A $5,018,024.68 Variable2 February 25, 2047 II-28-B $5,018,024.68 Variable2 February 25, 2047 II-29-A $4,537,973.99 Variable2 February 25, 2047 II-29-B $4,537,973.99 Variable2 February 25, 2047 II-30-A $4,179,842.11 Variable2 February 25, 2047 II-30-B $4,179,842.11 Variable2 February 25, 2047 II-31-A $3,926,922.40 Variable2 February 25, 2047 II-31-B $3,926,922.40 Variable2 February 25, 2047 II-32-A $4,031,228.60 Variable2 February 25, 2047 II-32-B $4,031,228.60 Variable2 February 25, 2047 II-33-A $4,076,077.08 Variable2 February 25, 2047 II-33-B $4,076,077.08 Variable2 February 25, 2047 II-34-A $5,257,332.48 Variable2 February 25, 2047 II-34-B $5,257,332.48 Variable2 February 25, 2047 II-35-A $813,091.30 Variable2 February 25, 2047 II-35-B $813,091.30 Variable2 February 25, 2047 II-36-A $6,662,561.87 Variable2 February 25, 2047 II-36-B $6,662,561.87 Variable2 February 25, 2047 II-37-A $3,526,983.24 Variable2 February 25, 2047 II-37-B $3,526,983.24 Variable2 February 25, 2047 II-38-A $3,249,195.49 Variable2 February 25, 2047 II-38-B $3,249,195.49 Variable2 February 25, 2047 II-39-A $3,034,839.06 Variable2 February 25, 2047 II-39-B $3,034,839.06 Variable2 February 25, 2047 II-40-A $2,829,789.61 Variable2 February 25, 2047 II-40-B $2,829,789.61 Variable2 February 25, 2047 II-41-A $2,695,831.19 Variable2 February 25, 2047 II-41-B $2,695,831.19 Variable2 February 25, 2047 II-42-A $2,464,986.99 Variable2 February 25, 2047 II-42-B $2,464,986.99 Variable2 February 25, 2047 II-43-A $2,346,968.15 Variable2 February 25, 2047 II-43-B $2,346,968.15 Variable2 February 25, 2047 II-44-A $2,110,405.69 Variable2 February 25, 2047 II-44-B $2,110,405.69 Variable2 February 25, 2047 II-45-A $2,044,577.42 Variable2 February 25, 2047 II-45-B $2,044,577.42 Variable2 February 25, 2047 II-46-A $1,968,996.39 Variable2 February 25, 2047 II-46-B $1,968,996.39 Variable2 February 25, 2047 II-47-A $1,885,670.31 Variable2 February 25, 2047 II-47-B $1,885,670.31 Variable2 February 25, 2047 II-48-A $1,849,576.60 Variable2 February 25, 2047 II-48-B $1,849,576.60 Variable2 February 25, 2047 II-49-A $1,755,707.58 Variable2 February 25, 2047 II-49-B $1,755,707.58 Variable2 February 25, 2047 II-50-A $2,189,830.13 Variable2 February 25, 2047 II-50-B $2,189,830.13 Variable2 February 25, 2047 II-51-A $2,083,366.61 Variable2 February 25, 2047 II-51-B $2,083,366.61 Variable2 February 25, 2047 II-52-A $1,987,744.90 Variable2 February 25, 2047 II-52-B $1,987,744.90 Variable2 February 25, 2047 II-53-A $1,890,849.74 Variable2 February 25, 2047 II-53-B $1,890,849.74 Variable2 February 25, 2047 II-54-A $1,803,800.73 Variable2 February 25, 2047 II-54-B $1,803,800.73 Variable2 February 25, 2047 II-55-A $1,732,695.98 Variable2 February 25, 2047 II-55-B $1,732,695.98 Variable2 February 25, 2047 II-56-A $1,641,923.38 Variable2 February 25, 2047 II-56-B $1,641,923.38 Variable2 February 25, 2047 II-57-A $1,565,108.06 Variable2 February 25, 2047 II-57-B $1,565,108.06 Variable2 February 25, 2047 II-58-A $1,486,444.34 Variable2 February 25, 2047 II-58-B $1,486,444.34 Variable2 February 25, 2047 II-59-A $32,998,549.68 Variable2 February 25, 2047 II-59-B $32,998,549.68 Variable2 February 25, 2047 P 100.00 Variable2 February 25, 2047 1 Solely for purposes of Section 1.860G‑1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the Upper-Tier REMIC and month following the Class A-R-II Certificate represents maturity date for the sole class of residual interest in Mortgage Loan with the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby latest maturity date has been designated as a the “latest possible maturity date” for each REMIC regular interest1 Regular Interest. 2 Calculated in accordance with the definition of “Uncertificated REMIC 1 Pass‑Through Rate” herein.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B M-1 Certificates, (v) the Class 2-A-1C M-2 Certificates, (vi) the Class X-1 M-3 Certificates, (vii) the Class X-2 M-4 Certificates, (viii) the Class PO-1 M-5 Certificates, (ix) the Class PO-2 M-6 Certificates, (x) the Class M-7 Certificates, (xi) the Class M-8 Certificates, (xii) the Class M-9 Certificates, (xiii) the Class M-10 Certificates, (xiv) the Class B-1 Certificates, (xv) the Class B-2 Certificates, (xvi) the Class P Certificates, (xvii) the Class X-1 Certificates, (xviii) the Class X-2 Certificates, (xix) the Class X-S Certificates and (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that will make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (eachPre-Funding Account, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Swap Account, the Yield Maintenance AgreementsCapitalized Interest Account, the Supplemental Interest Trust and the Subsequent Mortgage Loan Interest) as a real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest will represent the interests sole class of “residual interests” in REMIC 1 for purposes of the Lower-Tier REMIC formed herebyProvisions (as defined herein) under federal income tax law. The Upper Tier following table irrevocably sets forth the designation, the Uncertificated REMIC shall hold 1 Pass-Through Rate and the initial Uncertificated Principal Balance for each of the “regular interests” in REMIC 1 (the “REMIC 1 Regular Interests”). None of the REMIC 1 Regular Interests will be certificated. The latest possible maturity date (determined for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii)) of each of the REMIC 1 Regular Interests will be the Latest Possible Maturity Date as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificatedefined herein. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.___________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-3)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twelve classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2III-A-1A A-1 Certificates, (iv) the Class 2III-A-1B A-2 Certificates, (v) the Class 2III-A-1C A-3 Certificates, (vi) the Class X-1 III-A-4 Certificates, (vii) the Class X-2 III-A-5 Certificates, (viii) the Class PO-1 III-A-6 Certificates, (ix) the Class PO-2 C Certificates, (x) the Class A-R P Certificates, (xi), ) the Class A-R-II Certificates, R Certificates and (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R-X Certificates. As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, any Servicer Prepayment Charge Payment Amounts, the Basis Risk Reserve Fund Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Certificate Principal Balance Assumed Final Maturity Date(1) I (2) $ 739,920,723.03 February 2037 I-2-II Certificate. Each such LowerB (2) $ 1,447,501.25 February 2037 I-3-Tier Interest is hereby designated as a REMIC regular interest.B (2) $ 1,644,746.25 February 2037 I-5-B (2) $ 2,027,721.25 February 2037 I-8-B (2) $ 2,558,896.25 February 2037 I-9-B (2) $ 2,646,161.25 February 2037 I-11-B (2) $ 2,594,476.25 February 2037 I-14-B (2) $ 2,427,408.75 February 2037 I-18-B (2) $ 2,221,170.00 February 2037 I-19-B (2) $ 2,172,392.50 February 2037 P (2) $ 100.00 February 2037 ___________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Fxd1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-one classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B A-4 Certificates, (v) the Class 2-A-1C M-1 Certificates, (vi) the Class X-1 M-2 Certificates, (vii) the Class X-2 M-3 Certificates, (viii) the Class PO-1 M-4 Certificates, (ix) the Class PO-2 M-5 Certificates, (x) the Class A-R M-6 Certificates, (xi), ) the Class A-R-II M-7 Certificates, (xii) the Class P M-8 Certificates, (xiii) the Class B-1 M-9 Certificates, (xiv) the Class B-2 M-10 Certificates, (xv) the Class B-3 C Certificates, (xvi) the Class B-4 P Certificates, (xvii) the Class B-5 Certificates, R Certificates and (xviii) the Class B-6 Certificates and (xix) the Class B-7 R-X Certificates. As provided herein, the Trustee shall elect that to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in Net WAC Rate Carryover Reserve Account, the Basis Risk Reserve Fund Cap Agreement, the Interest Rate Cap Agreement, the Cap Account, the Cap Allocation Agreement, any Servicer Prepayment Charge Payment Amounts, the Swap Account, the Supplemental Interest Trust and the Yield Maintenance Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a REMIC for federal income tax purposes purposes, and such segregated pool of assets shall be designated as comprising two real estate mortgage investment conduits (each, a “REMICREMIC 1.” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the The Class A-R Certificate and the Class A-R-II Certificate, R-1 Interest shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which 1 Regular Interests shall be evidenced by the Class Acertificated. Designation Uncertificated REMIC 1 Pass-RThrough Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date(1) I Variable (2) $ 119,783,432.50 January 2037 I-7-II Certificate. Each such LowerB Variable (2) $ 10,377,761.25 January 2037 I-8-Tier Interest is hereby designated as a REMIC regular interest.B Variable (2) $ 9,998,421.25 January 2037 I-11-B Variable (2) $ 8,947,216.25 January 2037 I-12-B Variable (2) $ 8,621,106.25 January 2037 I-13-B Variable (2) $ 8,484,503.75 January 2037 I-16-B Variable (2) $ 3,214,431.25 January 2037 I-19-B Variable (2) $ 2,042,495.00 January 2037 I-24-B Variable (2) $ 1,728,581.25 January 2037 I-27-B Variable (2) $ 1,398,851.25 January 2037 I-29-B Variable (2) $ 1,314,318.75 January 2037 I-35-B Variable (2) $ 1,091,092.50 January 2037 I-38-A Variable (2) $ 994,577.50 January 2037 I-38-B Variable (2) $ 994,577.50 January 2037 I-39-A Variable (2) $ 964,403.75 January 2037 I-39-B Variable (2) $ 964,403.75 January 2037 I-40-B Variable (2) $ 935,172.50 January 2037 I-41-A Variable (2) $ 906,855.00 January 2037 I-41-B Variable (2) $ 906,855.00 January 2037 I-42-A Variable (2) $ 879,421.25 January 2037 I-42-B Variable (2) $ 879,421.25 January 2037 I-43-A Variable (2) $ 852,841.25 January 2037 I-43-B Variable (2) $ 852,841.25 January 2037 I-44-A Variable (2) $ 827,088.75 January 2037 I-44-B Variable (2) $ 827,088.75 January 2037 I-45-A Variable (2) $ 814,118.75 January 2037 I-45-B Variable (2) $ 814,118.75 January 2037 I-47-A Variable (2) $ 753,991.25 January 2037 I-47-B Variable (2) $ 753,991.25 January 2037 I-48-A Variable (2) $ 732,963.75 January 2037 I-48-B Variable (2) $ 732,963.75 January 2037 I-49-B Variable (2) $ 709,252.50 January 2037 I-50-A Variable (2) $ 1,838,346.25 January 2037 I-50-B Variable (2) $ 1,838,346.25 January 2037 I-51-A Variable (2) $ 21,370,137.50 January 2037 I-51-B Variable (2) $ 21,370,137.50 January 2037 P Variable (2) $ 100.00 January 2037 ________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Eq2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates "CERTIFICATES"), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen ten classes of certificates, designated as (i) the Class 1-A-1A A Certificates, (ii) the Class 1A-A-1B CertificatesR Certificate, (iii) the Class 2LTA-A-1A CertificatesR Certificate, (iv) the Class 2-A-1B B-1 Certificates, (v) the Class 2-A-1C B-2 Certificates, (vi) the Class X-1 B-3 Certificates, (vii) the Class X-2 B-4 Certificates, (viii) the Class PO-1 Certificates, B-5 Certificates and (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive will consist of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternativeREMICs, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Lower Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Upper Tier REMIC. The Lower-Tier REMIC shall "LOWER TIER REMIC" will hold as its assets all property of the assets constituting the Trust Fund other than and will issue the assets held "LOWER TIER REMIC REGULAR INTERESTS" (which will be uncertificated and will represent the "regular interests" in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Lower Tier REMIC) and the interests Class LTA-R Certificate, which will be the single "residual interest" in the Lower-Lower Tier REMIC. The Trustee will hold the Lower Tier REMIC formed herebyRegular Interests. The On each Distribution Date, following the allocation of Realized Losses and payments of principal, each Lower Tier REMIC Interest will have a principal balance equal to that of its Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interestCorresponding Class.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Greenwich Capital Acc Inc Mort Loan Pas THR Certs Ser 01 2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan ▇▇▇▇▇▇▇ ▇▇▇ Trust 20052004-5 2, Mortgage Loan Pass-Through Certificates, Series 20052004-5 2 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen eight classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiiiiii) the Class B-1 Certificates, (xiviv) the Class B-2 Certificates, (xvv) the Class B-3 Certificates, Certificates and (xvivi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 L Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II A-3 Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In additionThe Class A-3 Certificate shall represent ownership of four regular interests in the Upper-Tier REMIC, as described in footnote (i2) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any Upper-Tier REMIC created hereunderbelow. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier each REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier any REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The following table specifies the Class designation, interest rate, and initial Class Principal Amount for each Class of Lower-Tier REMIC Interest: Class Designation Interest Rate Initial Principal Balance LT-Group 1 (1) $ 105,489,601.63 LT-GSA(1) (1) $ 32,056.58 LT-PO(1) 0.00% $ 1,318,563.00 LT-IO(1) (2) (2) LT-Group 2 (3) $ 45,583,856.28 LT-GSA(2) (3) $ 14,129.86 LT-PO(2) 0.00% $ 1,500,628.00 LT-IO(2) (4) (4) LT-R (5) (5) __________________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Charlie Mac Trust 2004-2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty classes of certificates, designated as (i) the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A A-2 Certificates, (iv) the Class 2-A-1B A-3 Certificates, (v) the Class 2-A-1C A-4 Certificates, (vi) the Class X-1 A-5 Certificates, (vii) the Class X-2 A-6 Certificates, (viii) the Class PO-1 M-1 Certificates, (ix) the Class PO-2 M-2 Certificates, (x) the Class A-R M-3 Certificates, (xi), ) the Class A-R-II M-4 Certificates, (xii) the Class P M-5 Certificates, (xiii) the Class B-1 M-6 Certificates, (xiv) the Class B-2 M-7 Certificates, (xv) the Class B-3 M-8 Certificates, (xvi) the Class B-4 M-9 Certificates, (xvii) the Class B-5 C Certificates, (xviii) the Class B-6 P Certificates, (xviii) the Class R Certificates and (xixxx) the Class B-7 R-X Certificates. As provided herein, the Trustee shall elect that will make an election to treat the Trust Fund segregated pool of assets consisting of the Group I Mortgage Loans, the Group II Mortgage Loans and certain other related assets subject to this Agreement (but exclusive of the assets held in Pre-Funding Accounts, the Basis Risk Net WAC Rate Carryover Reserve Fund Account, the Master Servicer Prepayment Charge Payment Amounts and the Yield Maintenance Account and the Yield Maintenance AgreementsCap Contract) be treated as a real estate investment conduit (a “REMIC”) for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not R-1 Interest will represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions under federal income tax law. The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests. None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the LowerREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.Through Rate Initial Uncertificated Principal Balance Assumed Final Maturity Date(1) LT1 Variable(2) $ 645,800,516.75 May 2035 LT1PF Variable(2) $ 135,623,061.81 May 2035 LT2 Variable(2) $ 344,188,833.70 May 2035 LT2PF Variable(2) $ 74,387,487.74 May 2035 LTP Variable(2) $ 100.00 May 2035 ___________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2005-2)
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified), the Swap Agreement (as hereinafter defined) and the Cap Agreements (as hereinafter defined) to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView Mortgage mortgage pass-through certificates designated as ACE Securities Corp. Home Equity Loan Trust 2005Trust, Series 2007-5 Mortgage Loan HE1, Asset Backed Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen seventeen classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for ACE Securities Corp. Home Equity Loan Trust, designated Series 2007-HE1, Asset Backed Pass-Through Certificates, dated as of September 1, 2006 (ithe “Pooling and Servicing Agreement”), among the Purchaser as depositor, W▇▇▇▇ Fargo Bank, National Association as master servicer (the “Master Servicer”) and securities administrator (the “Securities Administrator”), Ocwen Loan Servicing, LLC as servicer (the “Servicer”) and HSBC Bank USA, National Association as trustee (the “Trustee”). The Purchaser will sell the Class 1-A-1A A-1 Certificates (the “Class A-1 Certificates”), Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates (collectively, the “Class A-2 Certificates”; together with the Class A-1 Certificates, (ii) the “Class 1-A-1B A Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi”), the Class A-R-II CertificatesM-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class M-9 (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternativecollectively, the “Lower-Tier REMIC” and the Publicly Offered Mezzanine Certificates”) to Deutsche Bank Securities Inc. (“Upper-Tier REMICDBSI”). Each Certificate, other than pursuant to the Class A-R Certificate Second Amended and the Class A-R-II CertificateRestated Underwriting Agreement, shall represent ownership dated as of a regular interest in the Upper-Tier REMICJune 24, 1999, as described herein. In additionamended and restated to and including January 25, (i) 2006, between the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 Purchaser and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance AgreementsDBSI, and the interests Terms Agreement, dated January 29, 2007 (collectively, the “Underwriting Agreement”), between the Purchaser and DBSI. Capitalized terms used but not defined herein shall have the meanings set forth in the Lower-Tier REMIC formed herebyPooling and Servicing Agreement. The Upper Tier REMIC shall hold parties hereto agree as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2007-He1)
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified) to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView Mortgage mortgage pass-through certificates designated as ACE Securities Corp. Home Equity Loan Trust 2005Trust, Series 2006-5 Mortgage Loan ASAP4, Asset Backed Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for ACE Securities Corp. Home Equity Loan Trust, designated Series 2006-ASAP4, Asset Backed Pass-Through Certificates, dated as of July 1, 2006 (ithe “Pooling and Servicing Agreement”), among the Purchaser as depositor, ▇▇▇▇▇ Fargo Bank, National Association as master servicer (the “Master Servicer”) and securities administrator (the “Securities Administrator”), Ocwen Loan Servicing, LLC as servicer (the “Servicer”) and HSBC Bank USA, National Association as trustee (the “Trustee”). The Purchaser will sell the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi)A-1 Certificates and, the Class A-R-II CertificatesA-2A, Class A-2B, Class A-2C and Class A-2D Certificates (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternativecollectively, the “Lower-Tier REMIC” and the “Upper-Tier REMICClass A-2 Certificates”). Each Certificate, other than the Class A-R Certificate ) and the Class A▇-R▇, ▇▇▇▇▇ ▇-II Certificate▇, shall represent ownership Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9, Class M-10 and Class M-11 Certificates (collectively, the “Mezzanine Certificates”) to Deutsche Bank Securities Inc. (“DBSI”), pursuant to the Second Amended and Restated Underwriting Agreement, dated as of a regular interest in the Upper-Tier REMICJune 24, 1999, as described herein. In additionamended and restated to and including January 25, (i) 2006, between the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 Purchaser and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance AgreementsDBSI, and the interests Terms Agreement, dated July 26, 2006 (collectively, the “Underwriting Agreement”), between the Purchaser and DBSI. Capitalized terms used but not defined herein shall have the meanings set forth in the Lower-Tier REMIC formed herebyPooling and Servicing Agreement. The Upper Tier REMIC shall hold parties hereto agree as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Asap4)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen twenty-four classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-2M Certificates, (iv) the Class 2-A-1B A-3 Certificates, (v) the Class 2-A-1C A-3M Certificates, (vi) the Class X-1 A-4 Certificates, (vii) the Class X-2 A-4M Certificates, (viii) the Class PO-1 A-5 Certificates, (ix) the Class PO-2 A-5M Certificates, (x) the Class A-R A-6 Certificates, (xi), ) the Class A-R-II A-6M Certificates, (xii) the Class P A-7 Certificates, (xiii) the Class B-1 M-1 Certificates, (xiv) the Class B-2 M-2 Certificates, (xv) the Class B-3 M-3 Certificates, (xvi) the Class B-4 M-4 Certificates, (xvii) the Class B-5 M-5 Certificates, (xviii) the Class B-6 Certificates and M-6 Certificates, (xix) the Class B-7 M-7 Certificates, (xx) the Class M-8 Certificates, (xxi) the Class B Certificates, (xxii) Class C Certificates, (xxiii) the Class P Certificates and (xxiv) the Class R Certificates. As provided herein, the Trustee shall will elect that to treat the Trust Fund (exclusive segregated pool of assets consisting of the Mortgage Loans and certain other related assets held in (other than the Basis Risk Net WAC Shortfall Reserve Fund and Fund, any Master Servicer Prepayment Charge Payment Amounts and, for the Yield Maintenance avoidance of doubt, the Supplemental Interest Trust, the Swap Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated subject to this Agreement as a REMIC for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents R-1 Interest will be the sole class of residual interest Residual Interests in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions (as defined herein). The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests (as defined herein). None of the assets held in the Basis Risk Reserve FundREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Through Rate Initial Uncertificated Principal Balance Latest Possible Maturity Date (1) 1-1-A Variable(2) $ 4,035,240.13 November 25, the Yield Maintenance Account2036 1-1-B Variable(2) $ 4,035,240.13 November 25, the Yield Maintenance Agreements2036 1-2-A Variable(2) $ 10,270,515.54 November 25, and the interests in the Lower2036 1-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower2-Tier REMIC InterestsB Variable(2) $ 10,270,515.54 November 25, other than the Class LT2036 1-R Interest3-A Variable(2) $ 11,473,338.76 November 25, ownership of which shall be evidenced by the Class A2036 1-R3-II Certificate. Each such LowerB Variable(2) $ 11,473,338.76 November 25, 2036 1-Tier Interest is hereby designated as a REMIC regular interest.4-A Variable(2) $ 12,664,406.46 November 25, 2036 1-4-B Variable(2) $ 12,664,406.46 November 25, 2036 1-5-A Variable(2) $ 13,828,621.13 November 25, 2036 1-5-B Variable(2) $ 13,828,621.13 November 25, 2036 1-6-A Variable(2) $ 14,831,555.44 November 25, 2036 1-6-B Variable(2) $ 14,831,555.44 November 25, 2036 1-7-A Variable(2) $ 15,937,156.87 November 25, 2036 1-7-B Variable(2) $ 15,937,156.87 November 25, 2036 1-8-A Variable(2) $ 17,006,124.63 November 25, 2036 1-8-B Variable(2) $ 17,006,124.63 November 25, 2036 1-9-A Variable(2) $ 18,441,306.82 November 25, 2036 1-9-B Variable(2) $ 18,441,306.82 November 25, 2036 1-10-A Variable(2) $ 19,805,091.14 November 25, 2036 1-10-B Variable(2) $ 19,805,091.14 November 25, 2036 1-11-A Variable(2) $ 20,784,991.55 November 25, 2036 1-11-B Variable(2) $ 20,784,991.55 November 25, 2036 1-12-A Variable(2) $ 21,363,336.84 November 25, 2036 1-12-B Variable(2) $ 21,363,336.84 November 25, 2036 1-13-A Variable(2) $ 21,951,123.30 November 25, 2036 1-13-B Variable(2) $ 21,951,123.30 November 25, 2036 1-14-A Variable(2) $ 22,485,948.91 November 25, 2036 1-14-B Variable(2) $ 22,485,948.91 November 25, 2036 1-15-A Variable(2) $ 22,965,095.29 November 25, 2036 1-15-B Variable(2) $ 22,965,095.29 November 25, 2036 1-16-A Variable(2) $ 23,374,043.22 November 25, 2036 1-16-B Variable(2) $ 23,374,043.22 November 25, 2036 1-17-A Variable(2) $ 23,537,333.58 November 25, 2036 1-17-B Variable(2) $ 23,537,333.58 November 25, 2036 1-18-A Variable(2) $ 22,778,692.08 November 25, 2036 1-18-B Variable(2) $ 22,778,692.08 November 25, 2036 1-19-A Variable(2) $ 22,043,990.96 November 25, 2036 1-19-B Variable(2) $ 22,043,990.96 November 25, 2036 1-20-A Variable(2) $ 2,907,012.14 November 25, 2036 1-20-B Variable(2) $ 2,907,012.14 November 25, 2036 1-21-A Variable(2) $ 21,206,980.89 November 25, 2036 1-21-B Variable(2) $ 21,206,980.89 November 25, 2036 1-22-A Variable(2) $ 20,979,297.75 November 25, 2036 1-22-B Variable(2) $ 20,979,297.75 November 25, 2036 1-23-A Variable(2) $ 20,274,456.03 November 25, 2036 1-23-B Variable(2) $ 20,274,456.03 November 25, 2036 1-24-A Variable(2) $ 37,985,465.93 November 25, 2036 1-24-B Variable(2) $ 37,985,465.93 November 25, 2036 1-25-A Variable(2) $ 18,319,637.52 November 25, 2036 1-25-B Variable(2) $ 18,319,637.52 November 25, 2036 1-26-A Variable(2) $ 17,682,504.42 November 25, 2036 1-26-B Variable(2) $ 17,682,504.42 November 25, 2036 1-27-A Variable(2) $ 17,068,083.84 November 25, 2036 1-27-B Variable(2) $ 17,068,083.84 November 25, 2036 1-28-A Variable(2) $ 16,197,103.54 November 25, 2036 1-28-B Variable(2) $ 16,197,103.54 November 25, 2036 1-29-A Variable(2) $ 6,771,406.29 November 25, 2036 1-29-B Variable(2) $ 6,771,406.29 November 25, 2036 1-30-A Variable(2) $ 15,069,047.37 November 25, 2036 1-30-B Variable(2) $ 15,069,047.37 November 25, 2036 1-31-A Variable(2) $ 15,342,175.95 November 25, 2036 1-31-B Variable(2) $ 15,342,175.95 November 25, 2036 1-32-A Variable(2) $ 14,775,068.01 November 25, 2036 1-32-B Variable(2) $ 14,775,068.01 November 25, 2036 1-33-A Variable(2) $ 66,967,043.62 November 25, 2036 1-33-B Variable(2) $ 66,967,043.62 November 25, 2036 1-34-A Variable(2) $ 12,086,942.77 November 25, 2036 1-34-B Variable(2) $ 12,086,942.77 November 25, 2036 1-35-A Variable(2) $ 11,638,320.35 November 25, 2036 1-35-B Variable(2) $ 11,638,320.35 November 25, 2036 1-36-A Variable(2) $ 11,206,527.13 November 25, 2036 1-36-B Variable(2) $ 11,206,527.13 November 25, 2036 1-37-A Variable(2) $ 10,337,860.78 November 25, 2036 1-37-B Variable(2) $ 10,337,860.78 November 25, 2036 1-38-A Variable(2) $ 93,446,243.33 November 25, 2036 1-38-B Variable(2) $ 93,446,243.33 November 25, 2036 1-39-A Variable(2) $ 6,656,034.17 November 25, 2036 1-39-B Variable(2) $ 6,656,034.17 November 25, 2036 1-40-A Variable(2) $ 6,453,943.03 November 25, 2036 1-40-B Variable(2) $ 6,453,943.03 November 25, 2036 1-41-A Variable(2) $ 6,257,542.49 November 25, 2036 1-41-B Variable(2) $ 6,257,542.49 November 25, 2036 1-42-A Variable(2) $ 6,067,543.43 November 25, 2036 1-42-B Variable(2) $ 6,067,543.43 November 25, 2036 1-43-A Variable(2) $ 5,882,841.08 November 25, 2036 1-43-B Variable(2) $ 5,882,841.08 November 25, 2036 1-44-A Variable(2) $ 5,704,062.46 November 25, 2036 1-44-B Variable(2) $ 5,704,062.46 November 25, 2036 1-45-A Variable(2) $ 5,530,387.39 November 25, 2036 1-45-B Variable(2) $ 5,530,387.39 November 25, 2036 1-46-A Variable(2) $ 5,362,038.48 November 25, 2036 1-46-B Variable(2) $ 5,362,038.48 November 25, 2036 1-47-A Variable(2) $ 5,198,886.12 November 25, 2036 1-47-B Variable(2) $ 5,198,886.12 November 25, 2036 1-48-A Variable(2) $ 5,040,498.98 November 25, 2036 1-48-B Variable(2) $ 5,040,498.98 November 25, 2036 1-49-A Variable(2) $ 4,887,110.98 November 25, 2036 1-49-B Variable(2) $ 4,887,110.98 November 25, 2036 1-50-A Variable(2) $ 4,738,313.31 November 25, 2036 1-50-B Variable(2) $ 4,738,313.31 November 25, 2036 1-51-A Variable(2) $ 4,594,002.40 November 25, 2036 1-51-B Variable(2) $ 4,594,002.40 November 25, 2036 1-52-A Variable(2) $ 5,378,663.93 November 25, 2036 1-52-B Variable(2) $ 5,378,663.93 November 25, 2036 1-53-A Variable(2) $ 16,032,701.81 November 25, 2036 1-53-B Variable(2) $ 16,032,701.81 November 25, 2036 1-54-A Variable(2) $ 40,875,708.66 November 25, 2036 1-54-B Variable(2) $ 40,875,708.66 November 25, 2036 1-55-A Variable(2) $ 27,320,129.36 November 25, 2036 1-55-B Variable(2) $ 27,320,129.36 November 25, 2036 1-56-A Variable(2) $ 45,157,444.46 November 25, 2036 1-56-B Variable(2) $ 45,157,444.46 November 25, 2036 1-57-A Variable(2) $ 3,082,737.26 November 25, 2036 1-57-B Variable(2) $ 3,082,737.26 November 25, 2036 1-58-A Variable(2) $ 213,945.22 November 25, 2036 1-58-B Variable(2) $ 213,945.22 November 25, 2036 1-59-A Variable(2) $ 207,417.02 November 25, 2036 1-59-B Variable(2) $ 207,417.02 November 25, 2036 1-60-A Variable(2) $ 201,086.53 November 25, 2036 1-60-B Variable(2) $ 201,086.53 November 25, 2036 1-61-A Variable(2) $ 194,947.79 November 25, 2036 1-61-B Variable(2) $ 194,947.79 November 25, 2036 1-62-A Variable(2) $ 188,995.04 November 25, 2036 1-62-B Variable(2) $ 188,995.04 November 25, 2036 1-63-A Variable(2) $ 183,222.66 November 25, 2036 1-63-B Variable(2) $ 183,222.66 November 25, 2036 1-64-A Variable(2) $ 177,625.23 November 25, 2036 1-64-B Variable(2) $ 177,625.23 November 25, 2036 1-65-A Variable(2) $ 172,197.48 November 25, 2036 1-65-B Variable(2) $ 172,197.48 November 25, 2036 1-66-A Variable(2) $ 166,934.29 November 25, 2036 1-66-B Variable(2) $ 166,934.29 November 25, 2036 1-67-A Variable(2) $ 161,830.71 November 25, 2036 1-67-B Variable(2) $ 161,830.71 November 25, 2036 1-68-A Variable(2) $ 156,881.93 November 25, 2036 1-68-B Variable(2) $ 156,881.93 November 25, 2036 1-69-A Variable(2) $ 152,083.28 November 25, 2036 1-69-B Variable(2) $ 152,083.28 November 25, 2036 1-70-A Variable(2) $ 147,430.23 November 25, 2036 1-70-B Variable(2) $ 147,430.23 November 25, 2036 1-71-A Variable(2) $ 142,918.39 November 25, 2036 1-71-B Variable(2) $ 142,918.39 November 25, 2036 1-72-A Variable(2) $ 138,543.52 November 25, 2036 1-72-B Variable(2) $ 138,543.52 November 25, 2036 1-73-A Variable(2) $ 134,301.46 November 25, 2036 1-73-B Variable(2) $ 134,301.46 November 25, 2036 1-74-A Variable(2) $ 130,188.23 November 25, 2036 1-74-B Variable(2) $ 130,188.23 November 25, 2036 1-75-A Variable(2) $ 126,199.93 November 25, 2036 1-75-B Variable(2) $ 126,199.93 November 25, 2036 1-76-A Variable(2) $ 122,332.79 November 25, 2036 1-76-B Variable(2) $ 122,332.79 November 25, 2036 1-77-A Variable(2) $ 118,583.16 November 25, 2036 1-77-B Variable(2) $ 118,583.16 November 25, 2036 1-78-A Variable(2) $ 114,947.49 November 25, 2036 1-78-B Variable(2) $ 114,947.49 November 25, 2036 1-79-A Variable(2) $ 1,417,073.07 November 25, 2036 1-79-B Variable(2) $ 1,417,073.07 November 25, 2036 1-80-A Variable(2) $ 1,590,733.44 November 25, 2036 1-80-B Variable(2) $ 1,590,733.44 November 25, 2036 1-81-A Variable(2) $ 583,900.97 November 25, 2036 1-81-B Variable(2) $ 583,900.97 November 25, 2036 OC Variable(2) $ 19,946,570.47 November 25, 2036 P Variable(2) $ 100.00 November 25, 2036 ___________________
Appears in 1 contract
PRELIMINARY STATEMENT. Through The Seller intends to sell the Mortgage Loans (as hereinafter identified) and the Cap Agreements (as hereinafter identified) to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView Mortgage mortgage pass-through certificates designated as ACE Securities Corp. Home Equity Loan Trust 2005Trust, Series 2006-5 Mortgage Loan OP2, Asset Backed Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement for ACE Securities Corp. Home Equity Loan Trust, designated Series 2006-OP2, Asset Backed Pass-Through Certificates, dated as of October 1, 2006 (ithe “Pooling and Servicing Agreement”), among the Purchaser as depositor, W▇▇▇▇ Fargo Bank, National Association as master servicer (the “Master Servicer”) and securities administrator (the “Securities Administrator”), Option One Mortgage Corporation as servicer (the “Servicer”) and HSBC Bank USA, National Association as trustee (the “Trustee”). The Purchaser will sell the Class 1-A-1A A-1 Certificates (the “Class A-1 Certificates”), Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates (collectively, the “Class A-2 Certificates”; together with the Class A-1 Certificates, (ii) the “Class 1-A-1B A Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi”), the Class A-R-II CertificatesM-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternativecollectively, the “Lower-Tier REMIC” and the Publicly Offered Mezzanine Certificates”) to Deutsche Bank Securities Inc. (“Upper-Tier REMICDBSI”). Each Certificate, other than pursuant to the Class A-R Certificate Second Amended and the Class A-R-II CertificateRestated Underwriting Agreement, shall represent ownership dated as of a regular interest in the Upper-Tier REMICJune 24, 1999, as described herein. In additionamended and restated to and including January 25, (i) 2006, between the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 Purchaser and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance AgreementsDBSI, and the interests Terms Agreement, dated October 20, 2006 (collectively, the “Underwriting Agreement”), between the Purchaser and DBSI. The Purchaser will sell the Class M-11 Certificates (the “Class M-11 Certificates”; together with the Publicly Offered Mezzanine Certificates, the “Mezzanine Certificates”) to DBSI pursuant to the Purchase Agreement dated as of October 20, 2006 between the Purchaser and DBSI. Capitalized terms used but not defined herein shall have the meanings set forth in the Lower-Tier REMIC formed herebyPooling and Servicing Agreement. The Upper Tier REMIC shall hold parties hereto agree as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.follows:
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Op2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 20052006-5 2 Mortgage Loan Pass-Through Certificates, Series 20052006-5 2 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen thirty-eight classes of certificates, designated as (i) the Class 1-A-1A A Certificates, (ii) the Class 12-A-1B A1A Certificates, (iii) the Class 2-A-1A A1B Certificates, (iv) the Class 23-A-1B A1A Certificates, (v) the Class 23-A-1C A1B Certificates, (vi) the Class X-1 4-A Certificates, (vii) the Class X-2 X Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), ix) the Class A-R-II B-1 Certificates, (x) the Class B-2 Certificates, (xi) the Class B-3 Certificates, (xii) the Class P B-4 Certificates, (xiii) the Class B-1 B-5 Certificates, (xiv) the Class B-2 Certificates, B-6 Certificates and (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 P Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and Fund, the Yield Maintenance Account and the Yield Maintenance Agreements, and amounts distributable on the Class P Certificates (collectively, the “Excluded Trust Property”)) be treated for federal income tax purposes as comprising two three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateP Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1AB-1, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, B-2 and Class 2-A-1C B-3 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 X Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier each REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund Fund, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Excluded Trust Property and the interests in the Lower-Tier REMIC and the Middle-Tier REMIC formed hereby. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Harborview 2006-2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 20052006-5 CB1 Mortgage Loan Pass-Through Certificates, Series 20052006-5 CB1 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen sixteen classes of certificates, designated as (i) the Class 1-A-1A A1A Certificates, (ii) the Class 1-A-1B A1B Certificates, (iii) the Class 21-A-1A CertificatesA1C, (iv) the Class 2-A-1B A1A Certificates, (v) the Class 2-A-1C A1B Certificates, (vi) the Class X-1 2-A1C Certificates, (vii) the Class X-2 2-X Certificates, (viii) the Class PO-1 2-PO Certificates, (ix) the Class PO-2 2-A-R Certificates, (x) the Class A2-R B1 Certificates, (xi), ) the Class A2-R-II B2 Certificates, (xii) the Class P 2-B3 Certificates, (xiii) the Class B-1 2-B4 Certificates, (xiv) the Class B-2 2-B5 Certificates, (xv) the Class B-3 Certificates, and (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 2-B6 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and (the Yield Maintenance Account and the Yield Maintenance Agreements“Excluded Trust Property”)) be treated for federal income tax purposes as comprising two four real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC,” the “Group 2 REMIC,” and the “Upper-Tier Group 1 REMIC”). Each CertificateCertificate having a “1” in its class designation shall represent ownership of a regular interest in the Group 1 REMIC, as described herein. Each Certificate having a “2” in its class designation, other than the Class 2-A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier Group 2 REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04this Agreement. The owners of the Class X-1 and Class X-2 2-X Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance AccountFund. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class 2-A-R Certificate represents ownership of the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class each of residual interest in the Lower-Tier REMIC, the Middle-Tier REMIC, the Group 2 REMIC, and the Group 1 REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund related to Loan Group 2, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Excluded Trust Property and the interests in the Lower-Tier REMIC formed herebyInterests and the Middle-Tier REMIC Interests. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The Group 2 REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest. The Group 1 REMIC shall hold as assets all of the property of the Trust Fund related to Loan Group 1. The following table specifies the Class designation, interest rate, and initial principal amount for each Lower-Tier REMIC Interest: Designation Interest Rate Initial Principal Balance Related Subgroup LT-SUB-2A (1) $ 64,846,055.77 Subgroup 2A LT-SC-2A (1) $ 63,282.38 Subgroup 2A LT-SUB-2B (2) $ 59,806,254.47 Subgroup 2B LT-SC-2B (2) $ 58,366.21 Subgroup 2B LT-SUB-2C (3) $ 238,156,270.72 Subgroup ▇▇ ▇▇-▇▇-▇▇ (3) $ 232,437.08 Subgroup 2C LT-R (4) (4) N/A
Appears in 1 contract
Sources: Pooling Agreement (Harborview Mortgage Loan Trust 2006-Cb1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1I-A-1A A-1 Certificates, (ii) the Class 1II-A-1B A-1 Certificates, (iii) the Class 2II-A-1A A-2 Certificates, (iv) the Class 2II-A-1B A-3 Certificates, (v) the Class 2II-A-1C A-4 Certificates, (vi) the Class X-1 M-1 Certificates, (vii) the Class X-2 M-2 Certificates, (viii) the Class PO-1 M-3 Certificates, (ix) the Class PO-2 M-4 Certificates, (x) the Class A-R M-5 Certificates, (xi), ) the Class A-R-II M-6 Certificates, (xii) the Class P M-7 Certificates, (xiii) the Class B-1 M-8 Certificates, (xiv) the Class B-2 M-9 Certificates, (xv) the Class B-3 M-10 Certificates, (xvi) the Class B-4 C Certificates, (xvii) the Class B-5 P Certificates, (xviii) the Class B-6 R Certificates and (xix) the Class B-7 R-X Certificates. As provided herein, the Trustee shall elect that will make an election to treat the Trust Fund segregated pool of assets consisting of the Group I Mortgage Loans, the Group II Mortgage Loans and certain other related assets subject to this Agreement (but exclusive of the assets held in Net WAC Rate Carryover Reserve Account, the Basis Risk Reserve Fund and Master Servicer Prepayment Charge Payment Amounts, the Yield Maintenance Swap Account and the Yield Maintenance AgreementsInterest Rate Swap Agreement) be treated as a real estate investment conduit (a “REMIC”) for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1Bpurposes, and Class 2-A-1C Certificates represent the right to receive payments in respect such segregated pool of Basis Risk Shortfalls from the Yield Maintenance Account assets will be designated as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. “REMIC 1.” The Class P Certificate represents an interest in the Trust Fund but does not R-1 Interest will represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of “residual interest interests” in REMIC 1 for purposes of the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMICProvisions under federal income tax law. The Lowerfollowing table irrevocably sets forth the designation, the Uncertificated REMIC 1 Pass-Tier REMIC shall hold as assets all property Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the Trust Fund other than REMIC 1 Regular Interests. None of the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the LowerREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.Through Rate(2) Initial Uncertificated Balance Latest Possible Maturity Date(1)
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Loan Trust Series 2006-2)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 2005-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell pass-through certificates (collectively, the Certificates “Certificates”), to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen classes of certificates, designated as (i) the Class 1-A-1A A-1 Certificates, (ii) the Class 1-A-1B A-2 Certificates, (iii) the Class 2-A-1A A-3 Certificates, (iv) the Class 2-A-1B M-1 Certificates, (v) the Class 2-A-1C M-2 Certificates, (vi) the Class X-1 M-3 Certificates, (vii) the Class X-2 M-4 Certificates, (viii) the Class PO-1 M-5 Certificates, (ix) the Class PO-2 M-6 Certificates, (x) the Class A-R M-7 Certificates, (xi), ) the Class A-R-II M-8 Certificates, (xii) the Class P M-9 Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 P Certificates, (xvi) the Class B-4 X-1 Certificates, (xvii) the Class B-5 X-2 Certificates, (xviii) the Class B-6 X-S Certificates and (xix) the Class B-7 A-R Certificates. As provided herein, the Trustee shall elect that will make an election to treat the Trust Fund segregated pool of assets consisting of the Mortgage Loans and certain other related assets subject to this Agreement (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (eachPre-Funding Account, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Swap Account, the Yield Maintenance AgreementsCapitalized Interest Account, the Supplemental Interest Trust and the Subsequent Mortgage Loan Interest) as a real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC 1.” The Class R-1 Interest will represent the interests sole class of “residual interests” in REMIC 1 for purposes of the Lower-Tier REMIC formed herebyProvisions (as defined herein) under federal income tax law. The Upper Tier following table irrevocably sets forth the designation, the Uncertificated REMIC shall hold 1 Pass-Through Rate and the initial Uncertificated Principal Balance for each of the “regular interests” in REMIC 1 (the “REMIC 1 Regular Interests”). None of the REMIC 1 Regular Interests will be certificated. The latest possible maturity date (determined for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii)) of each of the REMIC 1 Regular Interests will be the Latest Possible Maturity Date as assets the uncertificated Lowerdefined herein. LTI-1 Variable(1) $ 471,360,959.55 LTI-Tier REMIC Interests, other than the Class LTPF Variable(1) $ 53,889,040.00 LTI-R Interest, ownership of which shall be evidenced by the Class AAR Variable(1) $ 100.00 LTI-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.P Variable(1) $ 100.00 ___________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-4)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 20052004-5 Mortgage Loan Pass-Through Certificates, Series 20052004-5 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen thirteen classes of certificates, designated as (i) the Class 1-A-1A A Certificates, (ii) the Class 12-A-1B A-1 Certificates, (iii) the Class 2-A-1A A-2A Certificates, (iv) the Class 2-A-1B A-2B Certificates, (v) the Class 2-A-1C A-3 Certificates, (vi) the Class X-1 2-A-4 Certificates, (vii) the Class X-2 2-A-5 Certificates, (viii) the Class PO-1 2-A-6 Certificates, (ix) the Class PO-2 3-A Certificates, (x) the Class X Certificates, (xi) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P CertificatesB-1 Certificate, (xiii) the Class B-1 B-2 Certificates, (xiv) the Class B-2 B-3 Certificates, (xv) the Class B-3 B-4 Certificates, (xvi) the Class B-4 B-5 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xixxiii) the Class B-7 CertificatesP Certificate. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” ”, the “Middle-Tier REMIC”, and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R P Certificate and the Class A-R-II R Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier each REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier any REMIC formed hereby. The Upper Middle-Tier REMIC shall hold as assets the several classes of uncertificated interests of the Lower-Tier REMIC InterestsREMIC, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The Upper Tier REMIC shall hold as assets the uncertificated Middle-Tier REMIC Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest. The following table specifies the Class designation, interest rate, and initial Class Principal Amount for each Class of Lower-Tier REMIC Interest: Lower Tier REMICClass Designation Interest Rate Initial Class Principal Balance Related Loan Group Class LT-Group 1 (1) $171,603,744.87 Group1 Class LT-SC1 (1) $86,704.49 Group 1 Class LT-Group 2 (2) $355,317,685.06 Group 2 Class LT-SC2 (2) $179,532.17 Group 2 Class LT-Group 3 (3) $78,608,507.85 Group 3 Class LT-SC3 (3) $39,722.30 Group 3 Class LT-R (4) (4) N/A __________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2004-5)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView DSLA Mortgage Loan Trust 2005-5 AR6 DSLA Mortgage Loan Pass-Through Certificates, Series 2005-5 AR6 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen sixteen classes of certificates, designated as (i) the Class 1-A-1A 1A-1A Certificates, (ii) the Class 1-A-1B 1A-1B Certificates, (iii) the Class 2-A-1A 2A-1A Certificates, (iv) the Class 2-A-1B 2A-1B Certificates, (v) the Class 2-A-1C 2A-1C Certificates, (vi) the Class X-1 C Certificates, (vii) the Class X-2 Certificates, P Certificates (viii) the Class PO-1 CertificatesR Certificate, (ix) the Class PO-2 M-1 Certificates, (x) the Class A-R M-2 Certificates, (xi), ) the Class A-R-II M-3 Certificates, (xii) the Class P M-4 Certificates, (xiii) the Class B-1 M-5 Certificates, (xiv) the Class B-2 M-6 Certificates, (xv) the Class B-3 Certificates, R-II Certificate and (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 CertificatesR-X Certificate. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund Fund, the Yield Maintenance Account, and the Yield Maintenance Account and the Yield Maintenance AgreementsAgreement) be treated for federal income tax purposes as comprising two four real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” and the “Upper-Tier REMIC,” the “Class C REMIC” and the “Class P REMIC”). Each Certificate, other than the Class A-R Certificate and the R, Class A-R-II CertificateX, Class R-II, Class P, and Class C Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A1A-1A, Class 1-A-1B1A-1B, Class 2-A-1A2A-1A, Class 2-A-1B2A-1B, Class 2-A-1C2A-1C, Class B-1▇-▇, ▇▇▇▇▇ ▇-▇, Class B-2M-3, Class B-3M-4, Class B-4, Class B-5, Class B-6 M-5 and Class B-7 M-6 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided Shortfalls. The Class C Certificates shall represent ownership of a regular interest in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04C REMIC. The owners Class C Certificates, in addition to representing beneficial ownership of the Class X-1 and Class X-2 Certificates beneficially own REMIC regular interests, also represent beneficial ownership of the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an Certificates shall represent ownership of a regular interest in the Trust Fund but does not represent an interest in any REMIC created hereunderClass P REMIC. The Class A-R Certificate represents the ownership of the sole class of residual interest in the Upper-Tier REMIC and the REMIC. The Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC. The Class R-X Certificate represents ownership of the sole residual interest in each of the Class C REMIC and the Class P REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance AgreementsAgreement, and the interests in the Lower-Tier any REMIC formed hereby. The Upper Upper-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC InterestsInterests in the Lower-Tier REMIC, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each and each such LowerMiddle-Tier Interest is hereby designated as a regular interest in the Lower-Tier REMIC. The Class C REMIC regular interest.shall hold as assets the uncertificated Class C Interest in the Upper-Tier REMIC. The Class P REMIC shall hold as assets the uncertificated Class P Interest in the Upper-Tier REMIC. Lower-Tier REMIC Interests The following table specifies the designation, interest rate, initial principal balance, and Corresponding Class of Certificates for each Lower-Tier Interest: LT1A-1A (1) $ 127,363,000.00 Class 1A-1A LT1A-1B (1) $ 31,840,500.00 Class 1A-1B LT2A-1A (1) $ 162,861,500.00 Class 2A-1A LT2A-1B (1) $ 67,859,000.00 Class 2A-1B LT2A-1C (1) $ 40,715,000.00 Class ▇▇-▇▇ ▇▇▇-▇ (1) $ 13,876,000.00 Class ▇-▇ ▇▇▇-▇ (1) $ 10,818,500.00 Class ▇-▇ ▇▇▇-▇ (1) $ 6,350,000.00 Class ▇-▇ ▇▇▇-▇ (1) $ 1,175,500.00 Class ▇-▇ ▇▇▇-▇ (1) $ 1,411,000.00 Class ▇-▇ ▇▇▇-▇ (1) $ 2,351,500.00 Class M-6 LTP (1) $ 50.00 Class P LTQ (1) $ 474,152,734.50 N/A LT-R (2) (2) Class R-II __________________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (DSLA Mortgage Loan Trust 2005-Ar6)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 9 Mortgage Loan Pass-Through Certificates, Series 2005-5 9 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen forty classes of certificates, designated as (i) the Class 1-A-1A A Certificates, (ii) the Class 1A-A-1B R Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 1-X Certificates, (vii) the Class X-2 2-X Certificates, (viii) the Class PO-1 3-X Certificates, (ix) the Class PO-2 1-PO Certificates, (x) the Class A2-R PO Certificates, (xi)) the Class 3-PO Certificates, (xii) the Class B-1 Certificates, (xiii) the Class B-2 Certificates, (xiv) the Class B-3 Certificates, (xv) the Class B-4 Certificates, (xvi) the Class B-5 Certificates, (xvii) the Class B-6 Certificates, (xviii) the Class B-7 Certificates, (xix) the Class B-8 Certificates, (xx) the Class B-9 Certificates, (xxi) the Class B-10 Certificates, (xxii) the Class B-11 Certificates, (xxiii) the Class B-12 Certificates, (xxiv) the Class B-13 Certificates, and (xxv) the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance AgreementsAgreements (collectively, the “Excluded Trust Property”) be treated for federal income tax purposes as comprising two three real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC,” the “Middle-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 LIBOR Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 2-X Certificates and the Class X-2 3-X Certificates jointly beneficially own the Basis Risk Reserve Fund and the owners of the Class 2-X Certificates beneficially own the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents ownership of the sole class of residual interest in the Lower-Tier REMIC, and the Class A-R Certificates represent ownership of the sole class of residual interest in the Middle-Tier and the Upper-Tier REMICs. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund Fund, other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, Excluded Trust Property and the interests in the Lower-Tier REMIC and the Middle-Tier REMIC formed hereby. The Upper Middle-Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.. The Upper-Tier REMIC shall hold as assets the uncertificated Middle-Tier Interests, other than the Class MT-R Interest. Each such Middle-Tier Interest is hereby designated as a REMIC regular interest. The following table specifies the Class designation, interest rate, and initial principal amount for each Lower-Tier REMIC Interest: Designation Interest Rate Initial Principal Balance Related group LT-Group 1 (1) $ 972,579,102.84 Group 1 LT-Group 1 SCA (1) $ 1,529,353.06 Group 1 LT-Group 2 (2) $ 1,613,993,391.46 Group 2 LT-Group 2 SCA (2) $ 2,537,963.05 Group 2 LT-R (3) (3) N/A
Appears in 1 contract
Sources: Pooling Agreement (HarborView Mortgage Loan Trust 2005-9)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052006-5 13 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist of nineteen ten classes of certificates, designated as (i) the Class 1-A-1A A Certificates, (ii) the Class 1-A-1B X Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiiiiv) the Class B-1 Certificates, (xivv) the Class B-2 Certificates, (xvvi) the Class B-3 Certificates, (xvivii) the Class B-4 Certificates, (xviiviii) the Class B-5 Certificates, (xviiiix) the Class B-6 Certificates and (xixx) the Class B-7 P Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and Fund, the Yield Maintenance Account, the Yield Maintenance Agreement, the Final Maturity Reserve Trust, the Final Maturity Reserve Account and the Yield Maintenance AgreementsCollateral Account (the “Excluded Trust Property”)) be treated for federal income tax purposes as comprising comprises two real estate mortgage investment conduits (each, REMICs in a “REMIC” or, in the alternative, tiered REMIC structure: the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). .” Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateCertificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the The Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1CA, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 B-2 and Class B-7 B-3 Certificates represent the right to receive (i) payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.045.01(g). The owners of the Class X-1 and Class X-2 X Certificates beneficially own the Basis Risk Reserve Fund and Fund, the Yield Maintenance Account, the Final Maturity Reserve Account and the Final Maturity Reserve Trust. The Each Class P Certificate of Certificates (other than the Class X Certificates) represents an interest the right to receive payments in respect of the Trust Fund but does not represent an interest in any REMIC created hereunderFinal Maturity Reserve Account. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC, as well as the sole residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and shall issue 12 uncertificated interests, 11 of which shall be the Class A“Lower-RTier Regular Interests” and one residual interest (the “LT-II Certificate represents R Interest”), which will represent the sole class of residual interest in the Lower-Tier REMIC. The Trustee will hold the Lower-Tier REMIC shall hold Regular Interests as assets all property of the Trust Fund other than Upper-Tier REMIC. For purposes of the assets held in the Basis Risk Reserve FundREMIC Provisions, the Yield Maintenance Accountstartup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. The following table sets forth (or describes) the designation, the Yield Maintenance Agreementsinterest rate, and the interests initial principal balance for each interest in the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets the uncertificated REMIC: Lower-Tier REMIC Interests, other than the Interest Designation Interest Rate Initial Principal Balance Corresponding Class of Certificates LT-A (1) $ 380,792,000.00 A LT-AR (1) $ 100.00 A-R LT-P (1) $ 100.00 P LT-I (2) (2) N/A LT-R Interest, ownership of which shall be evidenced by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interest.(3) (3) N/A __________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (HarborView 2006-13)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView MortgageIT Mortgage Loan Trust 20052006-5 1 Mortgage Loan Pass-Through Certificates, Series 20052006-5 1 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist of nineteen twenty-five classes of certificates, designated as (i) the Class 1-A-1A A1 Certificates, (ii) the Class 1-A-1B A2 Certificates, (iii) the Class 21-A-1A X Certificates, (iv) the Class 2A-A-1B CertificatesR Certificate, (v) the Class 21-A-1C B1 Certificates, (vi) the Class X-1 1-B2 Certificates, (vii) the Class X-2 1-B3 Certificates, (viii) the Class PO-1 1-B4 Certificates, (ix) the Class PO-2 1-B5 Certificates, (x) the Class A1-R B6 Certificates, (xi), ) the Class A1-R-II P Certificates, (xii) the Class P 2-A1A Certificates, (xiii) the Class B-1 2-A1B Certificates, (xiv) the Class B-2 2-A1C Certificates, (xv) the Class B-3 2-X Certificates, (xvi) the Class B-4 2-X-B Certificates, (xvii) the Class B-5 2-PO Certificates, (xviii) the Class B-6 Certificates and 2-PO-B Certificates, (xix) the Class B-7 2-B1 Certificates, (xx) the Class 2-B2 Certificates, (xxi) the Class 2-B3 Certificates, (xxii) the Class 2-B4 Certificates, (xxiii) the Class 2-B5 Certificates, (xxiv) the Class 2-B6 Certificates and (xxv) the Class 2-P Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and Funds, the Yield Maintenance Agreements, the Yield Maintenance Account and (collectively, the Yield Maintenance Agreements“Excluded Trust Assets”)) be treated for federal income tax purposes as comprising comprises two real estate mortgage investment conduits (each, REMICs in a “REMIC” or, in the alternative, tiered REMIC structure - the “Lower-Tier REMIC” and the “Upper-Upper Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1AA1, Class 1-A-1BA2, Class 1-B1, Class 1-B2, Class 2-A-1AA1A, Class 2-A-1BA1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 A1C and Class B-7 the Group 2 Subordinate Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Group 1 Basis Risk Reserve Fund, Group 2-A Basis Risk Reserve Fund and the Group 2-B Basis Risk Reserve Fund, as applicable, as provided in Section 5.07 5.08, and (ii) the Class 1-A-1AA1, Class 1-A-1BA2, Class 1-B1, Class 1-B2, Class 2-A-1AA1A, Class 2-A-1BA1B, and Class 2-A-1C A1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 and Class X-2 1-X Certificates beneficially own the Group 1 Basis Risk Reserve Fund and the portion of the Yield Maintenance AccountAccount related to Group 1. The owners of the Class P Certificate represents an interest in 2-X Certificates beneficially own the Trust Group 2-A Basis Risk Reserve Fund but does not represent an interest in any REMIC created hereunderand the portion of the Yield Maintenance Account related to Group 2. The owners of the Class 2-X-B Certificates beneficially own the Group 2-B Basis Risk Reserve Fund. The Class A-R Certificate represents the sole class of residual interest in the Uppereach REMIC. The Lower-Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Assets) and will issue interests (the “Lower-Tier Regular Interests”) (which will be uncertificated and will represent the regular interests in the Lower-Tier REMIC) and a residual interest (the “Class ALT-R-II Certificate represents R Interest”) which will also be uncertificated and which will represent the sole class of residual interest in the Lower-Tier REMIC. The Trustee will hold the Lower-Tier REMIC shall hold Regular Interests as assets all property of the Trust Fund other than Upper-Tier REMIC. For purposes of the assets held in the Basis Risk Reserve FundREMIC Provisions, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in startup day for the Lower-Tier REMIC formed hereby. The Upper Tier REMIC shall hold as assets and the uncertificated LowerUpper-Tier REMIC Interests, other than is the Class LT-R Interest, ownership of which shall be evidenced by the Class A-R-II CertificateClosing Date. Each such Lower-Tier Interest is hereby designated as a All REMIC regular interestand residual interests created hereby will be retired on or before the Latest Possible Maturity Date.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (MortgageIT Mortgage Loan Trust 2006-1)
PRELIMINARY STATEMENT. Through this Agreement, the Depositor intends to cause the issuance and sale of the HarborView Mortgage Loan Trust 2005-5 Mortgage Loan Pass-Through Certificates, Series 20052006-5 14 (the “Certificates”) representing in the aggregate the entire beneficial ownership of the TrustTrust Fund, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates Certificates, to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunderFund. The Certificates will consist of nineteen sixteen classes of certificates, designated as (i) the Class 1-A-1A 1A-1A Certificates, (ii) the Class 1-A-1B 2A-1A Certificates, (iii) the Class 2-A-1A 2A-1B Certificates, (iv) the Class 2-A-1B 2A-1C Certificates, (v) the Class 2-A-1C 2A-2C Certificates, (vi) the Class X-1 B-1 Certificates, (vii) the Class X-2 B-2 Certificates, (viii) the Class PO-1 B-3 Certificates, (ix) the Class PO-2 B-4 Certificates, (x) the Class A-R B-5 Certificates, (xi), ) the Class A-R-II B-6 Certificates, (xii) the Class P B-7 Certificates, (xiii) the Class B-1 C Certificates, (xiv) the Class B-2 P Certificates, (xv) the Class B-3 Certificates, ES Certificates and (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 R Certificates. As provided hereinFor federal income tax purposes, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Prefunding Account, the Capitalized Interest Account, the Basis Risk Reserve Fund and Fund, the Yield Maintenance Trust, the Yield Maintenance Trust Account, the Yield Maintenance Account, the Yield Maintenance Agreement, the Collateral Account, the Final Maturity Reserve Trust and the Final Maturity Reserve Account and the Yield Maintenance AgreementsClass ES Distributable Amount (the “Excluded Trust Property”)) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, comprises three REMICs in a “REMIC” or, in the alternative, tiered REMIC structure: the “Lower-Tier REMIC,” the “Middle-Tier REMIC,” and the “Upper-Tier REMIC”). .” Each Certificate, other than the Class A-R Certificate and the Class A-R-II CertificateES Certificates, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, Class 2-A-1C, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 The LIBOR Certificates also represent the right to receive (i) payments in respect of the Final Maturity Reserve Account, (ii) payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (iiiii) the Class 1-A-1A, Class 1-A-1B, Class 2-A-1A, Class 2-A-1B, and Class 2-A-1C Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided in Section 4.045.01(h). The owners of the Class X-1 and Class X-2 C Certificates beneficially own the Basis Risk Reserve Fund Fund, the Final Maturity Reserve Account, the Final Maturity Reserve Trust, the Yield Maintenance Trust Account, and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC, as well as the sole residual interest in each of the Lower-Tier REMIC and the Class AMiddle-RTier REMIC. The Lower-II Certificate represents Tier REMIC will hold as its assets all of the assets constituting the Trust Fund (exclusive of the Excluded Trust Property) and will issue five uncertificated interests, four of which shall be the “Lower-Tier Regular Interests” and one residual interest (the “LT-R Interest”), which will represent the sole class of residual interest in the Lower-Tier REMIC. The LowerMiddle-Tier REMIC shall will hold as its assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance Agreements, and the interests in the Lower-Tier REMIC formed herebyRegular Interests and shall issue 17 uncertificated interests, 16 of which shall be the “Middle- Tier Regular Interests” and one residual interest (the “MT-R Interest”), which will represent the sole class of residual interest in the Middle-Tier REMIC. The Upper Upper-Tier REMIC shall will hold as its assets all of the uncertificated Middle-Tier Regular Interests and shall issue the Certificates. For purposes of the REMIC Provisions, the startup day for each REMIC created hereby is the Closing Date. All REMIC regular and residual interests created hereby will be retired on or before the Latest Possible Maturity Date. The following table sets forth (or describes) the designation, interest rate, and initial principal balance of each Lower-Tier REMIC Interests, other than Regular Interest and the Class LT-R Interest, ownership of which shall be evidenced by the Class A: LT-RInitial (1) $ 1,404,955,180.51 LT-II Certificate. Each such LowerSubsequent (2) $ 1,008,580,515.00 LT-Tier Interest is hereby designated as a REMIC regular interest.C (3) (3) LT-I (4) (4) LT-R (5)) (5) _____________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (HarborView 2006-14)
PRELIMINARY STATEMENT. Through PHH Mortgage is engaged in the business, inter alia, of making loans to individuals, the repayment of which is secured by a first lien mortgage on such individuals’ residences. ▇▇▇▇▇▇’▇ Gate is engaged in the business of purchasing such mortgage loans from PHH Mortgage and selling same to investors. PHH Mortgage has established certain terms, conditions and loan programs, as described in the PHH Investor Manual (the “PHH Guide”), which may be updated from time to time, and Purchaser is willing to purchase mortgage loans that comply with the terms of such terms, conditions and loan programs. The Sellers intend to sell the Mortgage Loans (as hereinafter identified) to the Purchaser on the terms and subject to the conditions set forth in this Agreement, the Depositor . The Purchaser intends to cause deposit the issuance and sale Mortgage Loans into a mortgage pool comprising the Trust Fund. The Trust Fund will be evidenced by a single series of the HarborView mortgage pass-through certificates designated as PHH Alternative Mortgage Loan Trust 2005Trust, Series 2007-5 2 Mortgage Loan Pass-Through Certificates, Series 2005-5 Certificates (the “Certificates”) representing in the aggregate the entire beneficial ownership of the Trust, the primary assets of which are the Mortgage Loans (as defined below). The Depositor intends to sell the Certificates to be issued hereunder in multiple classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Fund created hereunder. The Certificates will consist of nineteen 24 classes of certificates. The Certificates will be issued pursuant to a Pooling and Servicing Agreement, designated dated as of April 1, 2007 (ithe “Pooling and Servicing Agreement”), among the Purchaser as depositor, ▇▇▇▇▇ Fargo Bank, N.A. as master servicer (the “Master Servicer”) and as securities administrator and HSBC Bank USA, National Association as trustee (the “Trustee”). The Purchaser will sell the Class 1-A-1A Certificates, (ii) the Class 1-A-1B Certificates, (iii) the Class 2-A-1A Certificates, (iv) the Class 2-A-1B Certificates, (v) the Class 2-A-1C Certificates, (vi) the Class X-1 Certificates, (vii) the Class X-2 Certificates, (viii) the Class PO-1 Certificates, (ix) the Class PO-2 Certificates, (x) the Class A-R Certificates, (xi), the Class A-R-II Certificates, (xii) the Class P Certificates, (xiii) the Class B-1 Certificates, (xiv) the Class B-2 Certificates, (xv) the Class B-3 Certificates, (xvi) the Class B-4 Certificates, (xvii) the Class B-5 Certificates, (xviii) the Class B-6 Certificates and (xix) the Class B-7 Certificates. As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in the Basis Risk Reserve Fund and the Yield Maintenance Account and the Yield Maintenance Agreements) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each, a “REMIC” or, in the alternative, the “Lower-Tier REMIC” and the “Upper-Tier REMIC”). Each Certificate, other than the Class A-R Certificate and the Class A-R-II Certificate, shall represent ownership of a regular interest in the Upper-Tier REMIC, as described herein. In addition, (i) the Class 1-A-1AA-1, Class 1-A-1BA-2, Class 1-A-3, Class 1-A-4, Class 1-A-5, Class 2-A-1AA-1, Class 2-A-1BA-2, Class 2-A-1CA-3, Class B-12-A-4, Class B-22-A-5, Class B-32-A-6, Class B-43-A-1, Class B-53-A-2, Class B-6 and 4-A-1, Class B-7 Certificates represent the right to receive payments in respect of Basis Risk Shortfalls from the Basis Risk Reserve Fund as provided in Section 5.07 and (ii) the 2-X, Class 14-A-1AX, Class 2PO, Class 4PO, Class II-AR, Class 1-A-1BM-1, Class 21-A-1AM-2, Class 21-A-1BM-3, Class 1-M-4, Class II-M, Class II-B-1, Class II-B-2 and Class 2II-A-1C B-3 Certificates represent to Deutsche Bank Securities Inc. (“DBSI”), pursuant to the right Amended and Restated Underwriting Agreement, dated as of August 1, 2003, as amended to receive payments in respect of Basis Risk Shortfalls from and including April 25, 2007, between the Yield Maintenance Account as provided in Section 4.04. The owners of the Class X-1 Purchaser and Class X-2 Certificates beneficially own the Basis Risk Reserve Fund and the Yield Maintenance Account. The Class P Certificate represents an interest in the Trust Fund but does not represent an interest in any REMIC created hereunder. The Class A-R Certificate represents the sole class of residual interest in the Upper-Tier REMIC and the Class A-R-II Certificate represents the sole class of residual interest in the Lower-Tier REMIC. The Lower-Tier REMIC shall hold as assets all property of the Trust Fund other than the assets held in the Basis Risk Reserve Fund, the Yield Maintenance Account, the Yield Maintenance AgreementsDBSI, and the interests in Terms Agreement, dated April 25, 2007, between the Lower-Tier REMIC formed herebyPurchaser and DBSI. The Upper Tier REMIC shall hold as assets the uncertificated Lower-Tier REMIC Interests, other than Purchaser will sell the Class LTI-R InterestCE, ownership Class I-R, Class II-B-4, Class II-B-5 and Class II-B-6 Certificates to DBSI pursuant to the Purchase Agreement dated as of which shall be evidenced April 26, 2007 between the Purchaser and DBSI. The Purchaser and the Sellers wish to prescribe the terms and manner of purchase by the Class A-R-II Certificate. Each such Lower-Tier Interest is hereby designated as a REMIC regular interestPurchaser and sale by the Sellers of the Mortgage Loans, and the management and servicing of the Mortgage Loans by the Servicer, in this Agreement.
Appears in 1 contract
Sources: Mortgage Loan Purchase and Servicing Agreement (PHH Alternative Mortgage Trust, Series 2007-2)