Addition of Aggregate Addition Accounts Sample Clauses

Addition of Aggregate Addition Accounts. (a) If, from time to time, TRS becomes obligated to designate Aggregate Addition Accounts (as such term is defined in the Transfer Agreement) pursuant to Subsection 2.02(a) of the TRS-RFC VIII Receivables Purchase Agreement, then TRS may, at its option, give FSB written notice thereof on or before the eighth Business Day (the “Addition Notice Date”) prior to the Addition Date therefor, and upon receipt of such notice, FSB shall, on or before the Addition Date, designate sufficient Eligible Accounts as Aggregate Addition Accounts and shall sell to TRS the Purchased Assets related to such Aggregate Addition Accounts so that, following the inclusion thereof, TRS will be in compliance with the requirements of Subsection 2.02(a) of the TRS-RFC VIII Receivables Purchase Agreement. Additionally, subject to Subsection 2.02(b) of this Agreement, at its option and with the consent of TRS, FSB may designate Eligible Accounts as Aggregate Addition Accounts and sell to TRS the Purchased Assets related to such Aggregate Addition Accounts. In either event, FSB shall have sole responsibility for selecting the Aggregate Addition Accounts.
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Addition of Aggregate Addition Accounts. (a) If, from time to time, HRF becomes obligated to designate Aggregate Addition Accounts (as such term is defined in the Transfer and Servicing Agreement) pursuant to subsection 2.09(a) of the Transfer and Servicing Agreement, then HRF may, at its option, give the Bank written notice thereof on or before the fifth Business Day (the "Addition Notice Date") prior -------------------- to the Addition Date therefor, and upon receipt of such notice the Bank shall on or before the Addition Date, designate sufficient Eligible Accounts to be included as Additional Accounts so that after the inclusion thereof HRF will be in compliance with the requirements of said subsection 2.09(a). Additionally, subject to subsections 2.09(b) and (c) of the Transfer and Servicing Agreement and subsection 2.02(b), from time to time Eligible Accounts may be designated to be included as Aggregate Addition Accounts, upon the mutual agreement of HRF and the Bank. In either event, the Bank shall have sole responsibility for selecting the Aggregate Addition Accounts.
Addition of Aggregate Addition Accounts. (a) If (i) RFC VIII is required, pursuant to Subsection 2.13(a) of the Transfer Agreement, to designate additional accounts to the Trust, or (ii) RFC VIII elects, pursuant to Subsection 2.13(b) of the Transfer Agreement, to designate additional accounts to the Trust, then in either case RFC VIII shall give written notice thereof to TRS; provided, however, that such notice shall be provided on or before the eighth (8th) Business Day immediately preceding the related addition date. Upon receipt of such notice and on or prior to such addition date, TRS shall designate sufficient Eligible Accounts as Aggregate Addition Accounts and shall sell to RFC VIII the Purchased Assets related to such Aggregate Addition Accounts. In addition, at its option and with the consent of RFC VIII, TRS may designate Eligible Accounts as Aggregate Addition Accounts and sell to RFC VIII the Purchased Assets related to such Aggregate Addition Accounts.
Addition of Aggregate Addition Accounts. (a) If, from time to time, Funding becomes obligated to require the Bank to designate Aggregate Addition Accounts pursuant to Section 2.09(a) of the Pooling and Servicing Agreement, then Funding shall give the Bank written notice thereof on or before the eighth Business Day (the "Addition Notice Date") prior to the Addition Date therefor, and the Bank shall on or before the Addition Date, designate sufficient Eligible Accounts to be included as Additional Accounts so that after the inclusion thereof Funding will be in compliance with the requirements of said Section 2.09. Additionally, subject to Section 2.09(b) and (c) of the Pooling and Servicing Agreement, from time to time Eligible Accounts may be designated to be included as Aggregate Addition Accounts, upon the mutual agreement of Funding and the Bank. In either event, the Bank shall have sole responsibility for selecting the Aggregate Addition Accounts and shall on or prior to the Addition Date therefor execute and deliver to Funding a written assignment from the Bank to Funding in substantially the form of Exhibit A (the "Supplemental Conveyance"). The Bank shall take all actions necessary to comply, or to enable Funding to comply, with the requirements of Section 2.09 of the Pooling and Servicing Agreement and shall perform with respect to the Receivables in such Aggregate Addition Accounts all actions specified in Section 2.09(c) of the Pooling and Servicing Agreement.
Addition of Aggregate Addition Accounts. (a) If, from time to time, the Purchaser becomes obligated to designate Aggregate Addition Accounts (as such term is defined in the Pooling and Servicing Agreement) pursuant to subsection 2.9(a) of the Pooling and Servicing Agreement, then the Purchaser may, at its option, give the Seller written notice thereof on or before the eighth Business Day (the "Addition Notice Date") prior to the Addition Date therefor, and upon receipt of such notice the Seller shall on or before the Addition Date, designate sufficient Eligible Accounts to be included as Additional Accounts so that after the inclusion thereof the Purchaser will be in compliance with the requirements of said subsection 2.9(a). Additionally, subject to subsections 2.9(b) and (c) of the Pooling and Servicing Agreement and subsection 2.2(b), from time to time Eligible Accounts may be designated to be included as Aggregate Addition Accounts, upon the mutual agreement of the Purchaser and the Seller. In either event, the Seller shall have sole responsibility for selecting the Aggregate Addition Accounts; provided, that the selection method employed by the Seller shall not have an Adverse Effect. (b) On the Addition Date with respect to any designation of Aggregate Addition Accounts, the Purchaser shall purchase the Seller's right, title and interest in, to and under the Receivables in Aggregate Addition Accounts (and such Aggregate Addition Accounts shall be deemed to be Accounts for purposes of this Agreement), subject to the satisfaction of the following conditions: (i) any Aggregate Addition Accounts shall all be Eligible Accounts; (ii) the Seller shall have delivered to the Purchaser copies of UCC-1 financing statements covering such Aggregate Addition Accounts, if necessary to perfect the Purchaser's undivided interest in the Receivables arising therein; (iii) to the extent required of the Purchaser by Section 4.3 of the Pooling and Servicing Agreement, the Seller shall have deposited in the Collection Account all Collections with respect to such Aggregate Addition Accounts since the Additional Cut-Off Date; (iv) as of each of the Additional Cut-Off Date and the Addition Date, no Insolvency Event with respect to the Seller or any Account Owner shall have occurred nor shall the transfer of the Receivables arising in the Aggregate Addition Accounts to the Purchaser have been made in contemplation of the occurrence thereof; (v) solely with respect to Aggregate Addition Accounts designated pursuant to...

Related to Addition of Aggregate Addition Accounts

  • Establishment of Custodial Account; Deposits in Custodial Account The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts (collectively, the “Custodial Account”), titled “PrimeLending, in trust for Redwood Residential Acquisition Corporation as Purchaser of Mortgage Loans and various Mortgagors.” Such Custodial Account shall be an Eligible Account established with a commercial bank, a savings bank or a savings and loan association (which may be a depository affiliate of the Seller) which meets the guidelines set forth by the FHFA, Fxxxxx Mxx or Fxxxxxx Mac as an eligible depository institution for custodial accounts. The Custodial Account shall not be transferred to any other depository institution without the Purchaser’s approval, which shall not unreasonably be withheld. In any case, the Custodial Account shall be insured by the FDIC in a manner which shall provide maximum available insurance thereunder and which may be drawn on by the Seller. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received or made by it subsequent to the related Cut-off Date (other than in respect of principal and interest on the Mortgage Loans due on or before the related Cut-off Date):

  • Permitted Withdrawals from the Collection Accounts and Certificate Account (a) Each Servicer may from time to time make withdrawals from the related Collection Account for the following purposes:

  • Establishment of Custodial Accounts; Deposits in Custodial Accounts The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts. The creation of any Custodial Account shall be evidenced by a Custodial Account Letter Agreement in the form of Exhibit 7. The Seller shall deposit in the Custodial Account on a daily basis, and retain therein the following payments and collections received by it subsequent to the Cut-off Date, or received by it prior to the Cut-off Date but allocable to a period subsequent thereto, other than in respect of principal and interest on the Mortgage Loans due on or before the Cut-off Date:

  • Permitted Withdrawals from the Collection Account and Distribution Account (a) The Master Servicer may from time to time make withdrawals from the Collection Account for the following purposes:

  • Collection of Mortgage Loan Payments; Collection Account; Distribution Account (a) The Master Servicer shall enforce the obligation of the Servicers to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with the applicable Servicing Agreement and the terms and provisions of any related Required Insurance Policy.

  • Establishment of and Deposits to Custodial Account The Company shall segregate and hold all funds collected and received pursuant to a Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled "Countrywide Home Loans Inc. in trust for the Purchaser of Conventional Residential Conventional Residential Mortgage Loans, and various Mortgagors". The Custodial Account shall be established with a Qualified Depository. Any funds deposited in the Custodial Account shall at all times be fully insured to the full extent permitted under applicable law. Funds deposited in the Custodial Account may be drawn on by the Company in accordance with Section 4.05. The creation of any Custodial Account shall be evidenced by a certification in the form of Exhibit D-1 hereto, in the case of an account established with the Company, or by a letter agreement in the form of Exhibit D-2 hereto, in the case of an account held by a depository other than the Company. A copy of such certification or letter agreement shall be furnished to the Purchaser and, upon request, to any subsequent Purchaser. The Company shall deposit in the Custodial Account within two Business Days of receipt, and retain therein, the following collections received by the Company and payments made by the Company after the related Cut-off Date, (other than payments of principal and interest due on or before the related Cut-off Date, or received by the Company prior to the related Cut-off Date but allocable to a period subsequent thereto or with respect to each LPMI Loan, in the amount of the LPMI Fee):

  • Establishment of Collection Account (a) The Servicer, on behalf of the Issuer and the Indenture Trustee, shall establish the Collection Account in the name of the Indenture Trustee for the benefit of the Securityholders. The Collection Account shall be an Eligible Deposit Account initially established with the Indenture Trustee and maintained with the Indenture Trustee. Except as otherwise provided in this Agreement, in the event that the Collection Account maintained with the Indenture Trustee is no longer an Eligible Deposit Account, then the Servicer shall, with the Indenture Trustee’s assistance, as necessary, use reasonable efforts to cause the Collection Account to be moved to an Eligible Institution within thirty days.

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