The Corridor Contract. The Trustee on behalf of the Trust Fund, shall enter into the interest rate cap transaction evidenced by the Corridor Contract, on the terms and conditions set forth in the Corridor Contract Assignment Agreement. The Corridor Contract will be an asset of the Trust Fund but will not be an asset of any REMIC. The Securities Administrator, on behalf of the Trustee, shall deposit any amounts received from time to time with respect to the Corridor Contract into the Basis Risk Shortfall Reserve Fund. The Securities Administrator, on behalf of the Trustee, shall prepare and deliver any notices required to be delivered under the Corridor Contract. The Securities Administrator, on behalf of the Trustee, shall terminate the Corridor Contract upon the occurrence of certain events of default or termination events to the extent specified thereunder.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (Homestar Mortgage Accep Corp Asst Back Certs Ser 2004-2.), Pooling and Servicing Agreement (Homestar Mortgage Accep Corp Asst Back Certs Ser 2004-2.), Pooling and Servicing Agreement (Homestar Mortgage Accep Corp Asst Back Certs Ser 2004-1)