Common use of The Corridor Contract Clause in Contracts

The Corridor Contract. The Master Servicer shall cause Morgan Stanley & Co. Incorporated (▇▇ ▇t▇ ▇▇▇▇▇ant affiliate) to assign all of its respective right, title and interest in and to the Corridor Contract to, and shall cause all of Morgan Stanley & Co. Incorporated'▇ ▇▇▇i▇▇▇▇▇▇▇ in respect of such transaction to be assumed by, the Trustee on behalf of the Trust Fund, on the terms and conditions set forth in the Assignment Agreement. The Corridor Contract will be an asset of the Trust Fund but will not be an asset of any REMIC. The Master Servicer, on behalf of the Trustee, shall cause to be deposited any amounts received from time to time with respect to the Corridor Contract into the Corridor Contract Reserve Fund. The Master Servicer, on behalf of the Trustee, shall prepare and deliver any notices required to be delivered under the Corridor Contract. The Master Servicer, on behalf of the Trustee, shall act as calculation agent and/or shall terminate the Corridor Contract, upon the occurrence of certain events of default or termination events to the extent specified thereunder. Upon any such termination, the Corridor Contract Counterparty will be obligated to pay the Trustee, for the benefit of the Trust Fund, an amount in respect of such termination. Any amounts received by the Trustee for the benefit of the Trust Fund in respect of the termination of the Corridor Contract shall be deposited and held in the Corridor Contract Reserve Fund and applied on future Distribution Dates to pay the Yield Supplement Amount on the Class A-2 Certificates. Any amounts remaining in the Corridor Contract Reserve Fund on the Distribution Date immediately following the earlier of (x) the latest to occur of the Corridor Contract Scheduled Termination Date and (y) the date on which the Class Certificate Balance of the Class A-2 Certificates has been reduced to zero, will be distributed to the Corridor Contract Counterparty, and will not be available for payment of the Yield Supplement Amount on the Class A-2 Certificates.

The Corridor Contract. The Master Servicer shall cause Morgan Stanley & Co. Incorporated (▇▇ ▇t▇▇▇▇ ▇▇▇▇▇ant ▇▇ & Co. Incorporated (or its relevant affiliate) to assign all of its respective right, title and interest in and to the Corridor Contract to, and shall cause all of Morgan Stanley & Co. Incorporated'▇ ▇▇▇i▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated's obligations in respect of such transaction to be assumed by, the Trustee on behalf of the Trust Fund, on the terms and conditions set forth in the Assignment Agreement. The Corridor Contract will be an asset of the Trust Fund but will not be an asset of any REMIC. The Master Servicer, on behalf of the Trustee, shall cause to be deposited any amounts received from time to time with respect to the Corridor Contract into the Corridor Contract Reserve Fund. The Master Servicer, on behalf of the Trustee, shall prepare and deliver any notices required to be delivered under the Corridor Contract. The Master Servicer, on behalf of the Trustee, shall act as calculation agent and/or shall terminate the Corridor Contract, upon the occurrence of certain events of default or termination events to the extent specified thereunder. Upon any such termination, the Corridor Contract Counterparty will be obligated to pay the Trustee, for the benefit of the Trust Fund, an amount in respect of such termination. Any amounts received by the Trustee for the benefit of the Trust Fund in respect of the termination of the Corridor Contract shall be deposited and held in the Corridor Contract Reserve Fund and applied on future Distribution Dates to pay the Yield Supplement Amount on the Class A-2 A-1 and Class A-5 Certificates. Any amounts remaining in the Corridor Contract Reserve Fund on the Distribution Date immediately following the earlier of (x) the latest to occur of the Corridor Contract Scheduled Termination Date and (y) the date on which the aggregate Class Certificate Balance of the Class A-2 A-1 and Class A-5 Certificates has been reduced to zero, will be distributed to the Corridor Contract Counterparty, and will not be available for payment of the Yield Supplement Amount on the Class A-2 A-1 and Class A-5 Certificates.