Common use of The Corridor Contract Clause in Contracts

The Corridor Contract. The Corridor Contract will not be an asset of the Trust Fund or of any REMIC. The Supplemental Interest Trustee shall cause to be deposited into the Corridor Contract Reserve Fund any amounts received from time to time with respect to the Corridor Contract. The Master Servicer, on behalf of the Supplemental Interest Trustee, shall prepare and deliver any notices required to be delivered under the Corridor Contract. The Master Servicer, on behalf of the Supplemental Interest Trustee, shall act as calculation agent and/or shall terminate the Corridor Contract upon the occurrence of certain events of default or termination events to the extent specified in such Corridor Contract. Upon any such termination, the Corridor Contract Counterparty will be obligated to pay the Supplemental Interest Trustee, for the benefit of the Supplemental Interest Trust, an amount in respect of such termination. Any amounts received by the Supplemental Interest Trustee in respect of the termination of a Corridor Contract shall be deposited and held in the Corridor Contract Reserve Fund and applied on future Distribution Dates to pay the Yield Supplement Amount on the Class of Covered Certificates. Any amounts remaining in the Corridor Contract Reserve Fund on the Distribution Date immediately following the earlier of (i) the reduction of the Class Certificate Balance of the Covered Certificates to zero, and (ii) the Corridor Contract Scheduled Termination Date will be distributed to the Underwriter (Senior).

The Corridor Contract. The Supplemental Interest Trustee will enter into the Corridor Contract with the Corridor Contract Counterparty for the benefit of the Covered Certificates. The Corridor Contract will not be an asset of the Trust Fund or of any REMIC. The Corridor Contract instead will be an asset of the Supplemental Interest Trustee Trust. The Trustee, on behalf of the Supplemental Interest Trust, shall cause to be deposited into the Corridor Contract Reserve Fund any amounts received from time to time with respect to the Corridor ContractContract into the Corridor Contract Reserve Fund. The Master ServicerTrustee, on behalf of the Supplemental Interest Trustee, shall prepare and deliver any notices required to be delivered under the Corridor Contract. The Master Servicer, on behalf of the Supplemental Interest TrusteeTrust, shall act as calculation agent and/or shall terminate the Corridor Contract Contract, upon the occurrence of certain events of default or termination events to the extent specified in such Corridor Contractthereunder. Upon any such termination, the Corridor Contract Counterparty will be obligated to pay the Supplemental Interest Trustee, for the benefit of the Supplemental Interest Trust, an amount in respect of such termination. Any amounts received by the Trustee for the benefit of the Supplemental Interest Trustee Trust in respect of the termination of a Corridor Contract shall be deposited and held in the Corridor Contract Reserve Fund and applied on future Distribution Dates to pay the related Yield Supplement Amount on the Class of Covered Certificates. Any amounts remaining in the Corridor Contract Reserve Fund on the Distribution Date immediately following the earlier of (ix) the reduction of Corridor Contract Termination Date and (y) the date on which the Class Certificate Balance of the Covered Certificates has been reduced to zero, and (ii) the Corridor Contract Scheduled Termination Date will be distributed to the Underwriter (Senior), and will not be available for payment of any Yield Supplement Amounts on the Covered Certificates.

The Corridor Contract. The Supplemental Interest Trustee will enter into the Corridor Contract with the Corridor Contract Counterparty for the benefit of the Covered Certificates. The Corridor Contract will not be an asset of the Trust Fund or of any REMIC. The Corridor Contract instead will be an asset of the Supplemental Interest Trustee Trust. The Trustee, on behalf of the Supplemental Interest Trust, shall cause to be deposited into the Corridor Contract Reserve Fund any amounts received from time to time with respect to the Corridor ContractContract into the Corridor Contract Reserve Fund. The Master ServicerTrustee, on behalf of the Supplemental Interest Trustee, shall prepare and deliver any notices required to be delivered under the Corridor Contract. The Master Servicer, on behalf of the Supplemental Interest TrusteeTrust, shall act as calculation agent and/or shall terminate the Corridor Contract Contract, upon the occurrence of certain events of default or termination events to the extent specified in such Corridor Contractthereunder. Upon any such termination, the Corridor Contract Counterparty will be obligated to pay the Supplemental Interest Trustee, for the benefit of the Supplemental Interest Trust, an amount in respect of such termination. Any amounts received by the Trustee for the benefit of the Supplemental Interest Trustee Trust in respect of the termination of a Corridor Contract shall be deposited and held in the Corridor Contract Reserve Fund and applied on future Distribution Dates to pay the related Yield Supplement Amount on the Class of Covered Certificates. Any amounts remaining in the Corridor Contract Reserve Fund on the Distribution Date immediately following the earlier of (ix) the reduction termination of this Agreement and (y) the date on which the Class Certificate Balance of the Covered Certificates has been reduced to zero, and (ii) the Corridor Contract Scheduled Termination Date will be distributed to the Underwriter (Senior), and will not be available for payment of any Yield Supplement Amounts on the Covered Certificates.