Common use of The Reserve Funds Clause in Contracts

The Reserve Funds. (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-A1 and Class X Certificates, the Class 1-A1 Reserve Fund, into which the Depositor shall deposit $1,000. The Trustee shall hold the Class 1-A1 Cap Agreement as an asset in the Class 1-A1 Reserve Fund. The Class 1-A1 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-A1 Reserve Fund shall not be an asset of any REMIC or the Trust Fund established hereby.

The Reserve Funds. (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-A1 A6 and Class X Certificates, the Class 1-A1 A6 Reserve Fund, into which the Depositor shall deposit $1,000. The Trustee shall hold the Class 1-A1 A6 Cap Agreement as an asset in the Class 1-A1 A6 Reserve Fund. The Class 1-A1 A6 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-A1 A6 Reserve Fund shall not be an asset of any REMIC or the Trust Fund established hereby.

The Reserve Funds. (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-A1 A4 and Class X Certificates, the Class 1-A1 A4 Reserve Fund, into which the Depositor shall deposit $1,000. The Trustee shall hold the Class 1-A1 A4 Cap Agreement as an asset in the Class 1-A1 A4 Reserve Fund. The Class 1-A1 A4 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-A1 A4 Reserve Fund shall not be an asset of any REMIC or the Trust Fund established hereby. The Trustee shall deposit promptly upon receipt in the Class 1-A4 Reserve Fund any amounts received from the Class 1-A4 Cap Agreement.