The Reserve Fund. (a) On the Closing Date, the Seller shall deposit $1,000 into the Reserve Fund. In addition, the Trustee shall hold the Cap Agreement as an asset in the Reserve Fund. The Reserve Fund shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee held pursuant to this Agreement.
The Reserve Fund. (a) On the Closing Date, the Trustee shall establish and maintain, in its name, in trust for the benefit of the holders of the Group 1 Certificates and the LIBOR Certificates, the Reserve Fund into which the Sponsor shall deposit $1,000. In addition, the Trustee shall hold the Cap Agreement as an asset in the Reserve Fund. The Reserve Fund shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee held pursuant to this Agreement.
The Reserve Fund. On the Closing Date, the Securities Administrator shall establish and maintain in its name, in trust for the benefit of the Certificates, the Reserve Fund and shall deposit $1,000 therein upon receipt of such amount from or on behalf of the Underwriter. On each Distribution Date, the Securities Administrator shall transfer from the Distribution Account to the Reserve Fund the amounts specified pursuant to Section 5.02(a)(1)(C)(viii). Any such amounts transferred shall be treated for federal tax purposes as amounts distributed to the Holders of the Class OC Certificates. On each Distribution Date, to the extent required, the Securities Administrator shall withdraw amounts in the Reserve Fund to make distributions to the Classes of Certificates in accordance with the priorities set forth in Section 5.02(a)(1)(C) (viii). On the Distribution Date on which the termination of the Certificates occurs pursuant to Section 7.02, after making all distributions required in connection with the Certificates, the Securities Administrator shall withdraw from the Reserve Fund (to the extent of funds available on deposit therein) any remaining amounts and distribute them to the Holders of the Class OC Certificates. The Reserve Fund shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including without limitation, other moneys held by the Securities Administrator on behalf of the Trustee pursuant to this Agreement. Amounts held in the Reserve Fund from time to time shall continue to constitute assets of the Trust Fund, but not of any REMIC created under this Agreement, until released from the Reserve Fund pursuant to this Section 5.10. The Reserve Fund constitutes an "outside Reserve Fund" within the meaning of Treasury Regulation ss. 1.860G-2(h) and is not an asset of any REMIC. The Holders of the Class OC Certificates shall be the owner of the Reserve Fund. The Securities Administrator shall keep records that accurately reflect the funds on deposit in the Reserve Fund. Funds in the Reserve Fund may be invested in Permitted Investments at the written direction of the Majority of the Holders of the Class OC Certificates, which Permitted Investments shall mature not later than the Business Day immediately preceding the first Distribution Date that follows the date of such investment (except that if such Permitted Investment is an obligation of the institution that maintains the Re...
The Reserve Fund. (a) On the Closing Date, the Trustee shall establish and maintain, in its name, in trust for the benefit of the holders of the Group 1 Certificates and the LIBOR Certificates, the Reserve Fund into which the Sponsor shall deposit $1,000. In addition, the Trustee shall hold the Cap Agreement as an asset in the Reserve Fund. The Reserve Fund shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including, without limitation, other moneys of the Trustee held pursuant to this Agreement. The Reserve Fund shall be an asset of the Supplemental Interest Trust created pursuant to Section 6.15 of this Agreement.
The Reserve Fund. The Securities Administrator shall establish and maintain in the name of the Securities Intermediary for the benefit of the Indenture Trustee and the Noteholders the Reserve Fund which shall be an Eligible Account. Amounts deposited into the Reserve Fund pursuant to Section 5.01(f)(i) may be invested in Permitted Investments for the benefit of the Securityholders at the written direction of Txxxxxxxx to the Securities Administrator (or, if no such written direction is received, in investments of the type specified in clause (vi) of the definition of Permitted Investments (which investments shall mature on or before, and shall be held until, the next succeeding Payment Date). Any risk of loss of moneys resulting from such Permitted Investments shall be borne by, and be the risk of Txxxxxxxx and Txxxxxxxx shall deposit the amount of any such loss in the Reserve Fund within two Business Days of receipt of notification of such loss from the Securities Administrator, but not later than the Business Day prior to the next succeeding Payment Date. The Securities Administrator will keep records by Mortgage Loan Group of the source of deposits made into the Reserve Fund pursuant to Section 5.01(f)(i). Amounts on deposit in the Reserve Fund will be applied in accordance with Section 5.01(f)(i).
The Reserve Fund. On the Closing Date, the Securities Administrator shall establish and maintain in its name, in trust for the benefit of the Group 3 Certificates, the Group 3 Reserve Fund and shall 112 deposit $1,000 therein upon receipt of such amount from or on behalf of the Underwriter. On each Distribution Date, the Securities Administrator shall transfer from the Distribution Account to the Group 3 Reserve Fund the amounts specified pursuant to Section 5.02(a)(2)(C)(ix). Any such amounts transferred shall be treated for federal tax purposes as amounts distributed to the Holders of the Class 3-OC Certificates. On each Distribution Date, to the extent required, the Securities Administrator shall withdraw amounts in the Group 3 Reserve Fund to make distributions to the Classes of Group 3 Certificates in accordance with the priorities set forth in Section 5.02(a)(2)(C)(ix). On the Distribution Date on which the termination of the Group 3 Certificates occurs pursuant to Section 7.02, after making all distributions required in connection with the Group 3 Certificates, the Securities Administrator shall withdraw from the Group 3 Reserve Fund (to the extent of funds available on deposit therein) any remaining amounts and distribute them to the Holders of the Class 3-OC Certificates. The Group 3 Reserve Fund shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including without limitation, other moneys held by the Securities Administrator on behalf of the Trustee pursuant to this Agreement. Amounts held in the Group 3 Reserve Fund from time to time shall continue to constitute assets of the Trust Fund, but not of any REMIC created under this Agreement, until released from the Group 3 Reserve Fund pursuant to this Section 5.11. The Group 3 Reserve Fund constitutes an "outside Reserve Fund" within the meaning of Treasury Regulation ss. 1.860G-2(h) and is not an asset of any REMIC. The Holders of the Class 3-OC Certificates shall be the owner of the Group 3 Reserve Fund. The Securities Administrator shall keep records that accurately reflect the funds on deposit in the Group 3 Reserve Fund. Funds in the Group 3 Reserve Fund may be invested in Permitted Investments at the written direction of the Majority of the Holders of the Class 3-OC Certificates, which Permitted Investments shall mature not later than the Business Day immediately preceding the first Distribution Date that follows ...
The Reserve Fund. (a) On the Closing Date, the Trustee shall establish and maintain in the name of the Trustee, in the Supplemental Interest Trust for the benefit of the holders of the Class 1-A2 and Class X Certificates, the Class 1-A2 Reserve Fund, into which the Depositor shall deposit $1,000. The Trustee shall hold the Cap Agreement as an asset in the 1-A2 Reserve Fund. The Class 1-A2 Reserve Fund shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including without limitation other moneys of the Trustee held pursuant to this Agreement. The Class 1-A2 Reserve Fund shall not be an asset of any REMIC or the Trust Fund established hereby.
The Reserve Fund. Securities Intermediary shall not be bound to make any investigation into the facts or matters stated in any resolution, order, certificate, statement, instrument, opinion, report, notice, request, consent, entitlement order, approval or other paper or document.
The Reserve Fund. (a) The Class 1-A-1
The Reserve Fund. (a) The Indenture Trustee shall establish and maintain in the name of the Securities Intermediary an account (the “Reserve Fund”) entitled “Reserve Fund, JPMorgan Chase Bank, as Indenture Trustee, in trust for the benefit of the Holders of Structured Asset Securities Corporation Mortgage Loan Trust 2002-9 Mortgage-Backed Securities, Series 2002-9.” The Reserve Fund shall be an Eligible Account. If the existing Reserve Fund ceases to be an Eligible Account, the Indenture Trustee shall establish a new Reserve Fund that is an Eligible Account within 20 Business Days and transfer all funds and investment property on deposit in such existing Reserve Fund into such new Reserve Fund. The Reserve Fund shall relate solely to the Notes issued hereunder and funds in the Reserve Fund shall be held separate and apart from and shall not be commingled with any other monies including, without limitation, other monies of the Indenture Trustee held under this Agreement.
