Common use of The Certificate Account Clause in Contracts

The Certificate Account. (a) The Administrator, for the benefit of the Certificateholders, shall establish and maintain in the name of the Owner Trustee on behalf of the Certificateholders an account (the “Certificate Account”) entitled “Certificate Account, Wilmington Trust Company, as Owner Trustee, in trust for the Holders of Saxon Asset Securities Trust 2006-1 Certificates, Series 2006-1.” (b) On each Payment Date, the Indenture Trustee shall withdraw from the Payment Account all amounts required to be distributed to the Holder of the Class X Certificate and the Trust Certificate and remit such amount to the Owner Trustee or the Administrator for deposit into the Certificate Account. On each Payment Date, the Owner Trustee or the Administrator shall distribute all amounts on deposit in the Certificate Account to the Holders of the Class X Certificate and the Trust Certificate as set forth in the Trust Agreement (and shall distribute any proceeds of the Instrument to the Trust Certificate). On the Payment Date on which the Class Principal Amount of the Notes is reduced to zero, the Administrator shall distribute all amounts remaining on deposit in the Certificate Account to the Holder of the Class X Certificate and the Trust Certificate in order to clear and terminate the Certificate Account in connection with the termination of this Agreement.

The Certificate Account. (a) The Administrator, for the benefit of the Certificateholders, shall establish and maintain in the name of the Owner Trustee on behalf of the Certificateholders an account (the “Certificate Account”) entitled “Certificate Account, Wilmington Trust Company, as Owner Trustee, in trust for the Holders of [Saxon Asset Securities Securities] Trust 2006-1 [ ] Certificates, Series 2006-1[ ].” (b) On each Payment Date, the Indenture Trustee shall withdraw from the Payment Account all amounts required to be distributed to the Holder of the [Class X Certificate and the the] Trust Certificate and remit such amount to the Owner Trustee or the Administrator for deposit into the Certificate Account. On each Payment Date, the Owner Trustee or the Administrator shall distribute all amounts on deposit in the Certificate Account to the Holders of the [Class X Certificate and the the] Trust Certificate as set forth in the Trust Agreement (and shall distribute any proceeds of the Instrument to the Trust Certificate). On the Payment Date on which the Class Principal Amount of the Notes is reduced to zero, the Administrator shall distribute all amounts remaining on deposit in the Certificate Account to the Holder of the [Class X Certificate and the the] Trust Certificate in order to clear and terminate the Certificate Account in connection with the termination of this Agreement.

The Certificate Account. (a) The Administrator, for the benefit of the Certificateholders, shall establish and maintain in the name of the Owner Trustee on behalf of the Certificateholders an account (the “Certificate Account”) entitled “Certificate Account, Wilmington Trust Company, as Owner Trustee, in trust for the Holders of Saxon Asset Securities Trust 2006-1 3 Certificates, Series 2006-13.” (b) On each Payment Date, the Indenture Trustee shall withdraw from the Payment Account all amounts required to be distributed to the Holder of the Class X Certificate and the Trust Certificate and remit such amount to the Owner Trustee or the Administrator for deposit into the Certificate Account. On each Payment Date, the Owner Trustee or the Administrator shall distribute all amounts on deposit in the Certificate Account to the Holders of the Class X Certificate and the Trust Certificate as set forth in the Trust Agreement (and shall distribute any proceeds of the Instrument to the Trust Certificate). On the Payment Date on which the Class Principal Amount of the Notes is reduced to zero, the Administrator shall distribute all amounts remaining on deposit in the Certificate Account to the Holder of the Class X Certificate and the Trust Certificate in order to clear and terminate the Certificate Account in connection with the termination of this Agreement.

The Certificate Account. (a) The Administrator, for the benefit of the Certificateholders, shall establish and maintain in the name of the Owner Trustee on behalf of the Certificateholders an account (the “Certificate Account”) entitled “Certificate Account, Wilmington Trust Company, as Owner Trustee, in trust for the Holders of Saxon Asset Securities Trust 20062005-1 3 Certificates, Series 20062005-13.” (b) On each Payment Date, the Indenture Trustee shall withdraw from the Payment Account all amounts required to be distributed to the Holder of the Class X Certificate and the Trust Certificate and remit such amount to the Owner Trustee or the Administrator for deposit into the Certificate Account. On each Payment Date, the Owner Trustee or the Administrator shall distribute all amounts on deposit in the Certificate Account to the Holders of the Class X Certificate and the Trust Certificate as set forth in the Trust Agreement (and shall distribute any proceeds of the Instrument to the Trust Certificate). On the Payment Date on which the Class Principal Amount of the Notes is reduced to zero, the Administrator shall distribute all amounts remaining on deposit in the Certificate Account to the Holder of the Class X Certificate and the Trust Certificate in order to clear and terminate the Certificate Account in connection with the termination of this Agreement.