Common use of Termination of Trust Fund Upon Repurchase or Liquidation of All Mortgage Loans Clause in Contracts

Termination of Trust Fund Upon Repurchase or Liquidation of All Mortgage Loans. (a) The respective obligations and responsibilities of the Trustee, the Securities Administrator and the Master Servicer created hereby (other than the obligation of the Trustee to make payments to Certificateholders as set forth in Section 7.02, the obligation of the Master Servicer to make a final remittance to the Securities Administrator for deposit into the Securities Administrator Account pursuant to Section 4.01, the obligation of the Securities Administrator to make a final remittance to the Trustee for deposit into the Certificate Account pursuant to Section 4.07 and the obligations of the Master Servicer to the Securities Administrator and the Trustee pursuant to Sections 9.10 and 9.14), shall terminate on the earlier of (i) the final payment or other liquidation of the last Mortgage Loan remaining in the Trust Fund and the disposition of all REO Property and (ii) the sale of the property held by the Trust Fund in accordance with Section 7.01(b); provided, however, that in no event shall the Trust Fund created hereby continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of St. James's, living xx xxx xxxx xxxxxf. Any termination of the Trust Fund shall be carried out in such a manner so that the termination of each REMIC included therein shall qualify as a "qualified liquidation" under the REMIC Provisions.

Termination of Trust Fund Upon Repurchase or Liquidation of All Mortgage Loans. (a) The respective obligations and responsibilities of the Trustee, the Securities Administrator and the Master Servicer created hereby (other than the obligation of the Trustee to make payments to Certificateholders as set forth in Section 7.02, the obligation of the Master Servicer to make a final remittance to the Securities Administrator for deposit into the Securities Administrator Account pursuant to Section 4.01, the obligation of the Securities Administrator to make a final remittance to the Trustee for deposit into the Certificate Account pursuant to Section 4.07 and the obligations of the Master Servicer to the Securities Administrator and the Trustee pursuant to Sections 9.10 and 9.14), shall terminate on the earlier of (i) the final payment or other liquidation of the last Mortgage Loan remaining in the Trust Fund and the disposition of all REO Property and (ii) the sale of the property held by the Trust Fund in accordance with Section 7.01(b); provided, however, that in no event shall the Trust Fund created hereby continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P. KennedyXxxxxx X. Xxxxxxx, the late Ambassador of the United States to the Court of St. James's, living xx xxx xxxx xxxxxfon the date hereof. Any termination of the Trust Fund shall be carried out in such a manner so that the termination of each REMIC included therein shall qualify as a "qualified liquidation" under the REMIC Provisions.

Termination of Trust Fund Upon Repurchase or Liquidation of All Mortgage Loans. (a) The respective obligations and responsibilities of the Trustee, the Securities Administrator Trustee and the Master Servicer created hereby (other than the obligation of the Trustee to make payments to Certificateholders as set forth in Section 7.02, the obligation of the Master Servicer Trustee to make a final remittance payments as set forth in Section 5.06 (relating to the Securities Administrator for deposit into the Securities Administrator Account pursuant to Section 4.01Supplemental Prepayment Trust), the obligation of the Securities Administrator Master Servicer to make a final remittance to the Trustee for deposit into the Certificate Account pursuant to Section 4.07 4.01 and the obligations of the Master Servicer to the Securities Administrator and the Trustee pursuant to Sections 9.10 and 9.14), shall terminate on upon the occurrence of the earlier of (i) the final payment or other liquidation of the last Mortgage Loan remaining in the Trust Fund and the disposition of all REO Property and Property, (ii) the sale of the property held by the Trust Fund in accordance with Section 7.01(b) and (iii) the Latest Possible Maturity Date (each, a “Trust Fund Termination Event”); provided, however, that in no event shall the Trust Fund or Supplemental Prepayment Trust created hereby continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P. KennedyJosexx X. Xxxxxxx, the xxe late Ambassador of the United States to the Court of St. James's’s, living xx xxx xxxx xxxxxfon the date hereof or beyond the Latest Possible Maturity Date. Any termination Upon the occurrence of the a Trust Fund Termination Event, each REMIC shall be carried out terminated in such a manner so that the termination of each REMIC included therein shall qualify as a "“qualified liquidation" ” under the REMIC Provisions.

Termination of Trust Fund Upon Repurchase or Liquidation of All Mortgage Loans. | (a) The respective obligations and responsibilities of the Trustee, the Securities Administrator and the Master Servicer created hereby (other than the obligation of the Trustee to make payments to Certificateholders as set forth in Section 7.02, the obligation of the Master Servicer to make a final remittance to the Securities Administrator for deposit into the Securities Administrator Account pursuant to Section 4.01, the obligation of the Securities Administrator to make a final remittance to the Trustee for deposit into the Certificate Account pursuant to Section 4.07 and the obligations of the Master Servicer to the Securities Administrator and the Trustee pursuant to Sections 9.10 and 9.14), shall terminate on the earlier of (i) the final payment or other liquidation of the last Mortgage Loan remaining in the Trust Fund and the disposition of all REO Property and (ii) the sale of the property held by the Trust Fund in accordance with Section 7.01(b); provided, however, that in no event shall the Trust Fund created hereby continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P. Kennedy, the late Ambassador of the United States to the Court of Statex xx xxx Xxxxx xx St. James's, living xx xxx xxxx xxxxxfon the date hereof. Any termination of the Trust Fund shall be carried out in such a manner so that the termination of each REMIC included therein shall qualify as a "qualified liquidation" under the REMIC Provisions.

Termination of Trust Fund Upon Repurchase or Liquidation of All Mortgage Loans. (a) The respective obligations and responsibilities of the Trustee, the Securities Administrator and the Master Servicer created hereby (other than the obligation of the Trustee to make payments to Certificateholders as set forth in Section 7.02, the obligation of the Master Servicer to make a final remittance to the Securities Administrator for deposit into the Securities Administrator Account pursuant to Section 4.01, the obligation of the Securities Administrator to make a final remittance to the Trustee for deposit into the Certificate Account pursuant to Section 4.07 4.05 and the obligations of the Master Servicer to the Securities Administrator and the Trustee pursuant to Sections 9.10 and 9.14), shall terminate on the earlier of (i) the final payment or other liquidation of the last Mortgage Loan remaining in the Trust Fund and the disposition of all REO Property and (ii) the sale of the property held by the Trust Fund in accordance with Section 7.01(b); provided, however, that in no event shall the Trust Fund created hereby continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P. KennedyXxxxxx X. Xxxxxxx, the late Ambassador of the United States to the Court of St. James's’s, living xx xxx xxxx xxxxxfon the date hereof. Any termination of the Trust Fund shall be carried out in such a manner so that the termination of each REMIC included therein shall qualify as a "“qualified liquidation" ” under the REMIC Provisions.

Termination of Trust Fund Upon Repurchase or Liquidation of All Mortgage Loans. (a) The respective obligations and responsibilities of the Trustee, the Securities Administrator Trustee and the Master Servicer created hereby (other than the obligation of the Trustee to make payments to Certificateholders as set forth in Section 7.02, the obligation of the Master Servicer Trustee to make a final remittance payments as set forth in Section 5.06 (relating to the Securities Administrator for deposit into the Securities Administrator Account pursuant to Section 4.01Supplemental Prepayment Trust), the obligation of the Securities Administrator Master Servicer to make a final remittance to the Trustee for deposit into the Certificate Account pursuant to Section 4.07 4.01 and the obligations of the Master Servicer to the Securities Administrator and the Trustee pursuant to Sections 9.10 and 9.14), shall terminate on upon the occurrence of the earlier of (i) the final payment or other liquidation of the last Mortgage Loan remaining in the Trust Fund and the disposition of all REO Property and Property, (ii) the sale of the property held by the Trust Fund in accordance with Section 7.01(b) and (iii) the Latest Possible Maturity Date (each, a “Trust Fund Termination Event”); provided, however, that in no event shall the Trust Fund or Supplemental Prepayment Trust created hereby continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P. KennedyJxxxxx X. Xxxxxxx, the late Ambassador of the United States to the Court of St. James's’s, living xx xxx xxxx xxxxxfon the date hereof or beyond the Latest Possible Maturity Date. Any termination Upon the occurrence of the a Trust Fund Termination Event, each REMIC shall be carried out terminated in such a manner so that the termination of each REMIC included therein shall qualify as a "“qualified liquidation" ” under the REMIC Provisions.

Termination of Trust Fund Upon Repurchase or Liquidation of All Mortgage Loans. (a) The respective obligations and responsibilities of the Trustee, the Securities Administrator and the Master Servicer created hereby (other than the obligation of the Trustee Securities Administrator to make payments to Certificateholders as set forth in Section 7.02, the obligation of the Master Servicer to make a final remittance to the Securities Administrator for deposit into the Securities Administrator Account pursuant to Section 4.01, the obligation of the Securities Administrator to make a final remittance to the Trustee 4.01 for deposit into the Certificate Account pursuant to Section 4.07 and the obligations of the Master Servicer to the Securities Administrator and the Trustee pursuant to Sections 9.10 and 9.14), shall terminate on upon the occurrence of the earlier of (i) the final payment or other liquidation of the last Mortgage Loan remaining in the Trust Fund and the disposition of all REO Property and Property, (ii) the sale of the property held by the Trust Fund in accordance with Section 7.01(b) and (iii) the Latest Possible Maturity Date (each, a “Trust Fund Termination Event”); provided, however, that in no event shall the Trust Fund created hereby continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P. KennedyXxxxxx X. Xxxxxxx, the late Ambassador of the United States to the Court of St. James's’s, living xx xxx xxxx xxxxxfon the date hereof or beyond the Latest Possible Maturity Date. Any termination Upon the occurrence of the a Trust Fund Termination Event, each REMIC shall be carried out terminated in such a manner so that the termination of each REMIC included therein shall qualify as a "“qualified liquidation" ” under the REMIC Provisions.

Termination of Trust Fund Upon Repurchase or Liquidation of All Mortgage Loans. (a) The respective obligations and responsibilities of the Trustee, the Securities Administrator Trustee and the Master Servicer created hereby (other than the obligation of the Trustee to make payments to Certificateholders as set forth in Section 7.02, the obligation of the Master Servicer Trustee to make a final remittance payments as set forth in Section 5.06 (relating to the Securities Administrator for deposit into the Securities Administrator Account pursuant to Section 4.01Supplemental Prepayment Trust), the obligation of the Securities Administrator Master Servicer to make a final remittance to the Trustee for deposit into the Certificate Account pursuant to Section 4.07 4.01 and the obligations of the Master Servicer to the Securities Administrator and the Trustee pursuant to Sections 9.10 and 9.14), shall terminate on upon the occurrence of the earlier of (i) the final payment or other liquidation of the last Mortgage Loan remaining in the Trust Fund and the disposition of all REO Property and Property, (ii) the sale of the property held by the Trust Fund in accordance with Section 7.01(b) and (iii) the Latest Possible Maturity Date (each, a “Trust Fund Termination Event”); provided, however, that in no event shall the Trust Fund or Supplemental Prepayment Trust created hereby continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Joseph P. KennedyJxxxxx X. Xxxxxxx, the late Ambassador of the United States to the Court of St. James's’s, living xx xxx xxxx xxxxxfon the date hereof or beyond the Latest Possible Maturity Date. Any termination Upon the occurrence of the a Trust Fund Termination Event, each REMIC shall be carried out terminated in such a manner so that the termination of each REMIC included therein shall qualify as a "“qualified liquidation" ” under the REMIC Provisions.. 123