The Interest Rate Cap Agreement. (a) The Interest Rate Cap Agreement will be an asset of the Trust but will not be an asset of any REMIC and any amounts received thereon shall be taxable to the Class BIO Certificateholder. The Trustee shall treat the Interest Rate Cap Agreement as having a nominal (zero) value for the Holders of the Offered Certificates.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Renaissance Home Equity Loan Tr Asset BKD Cer Series 2002-3), Custodial Agreement (Home Equity Loan Asset-Backed Certificates Series 2003-2), Custodial Agreement (Home Equity Loan Asset-Backed Certificates Series 2003-2)
