Collection Account; Distribution Account. (a) The Servicer shall establish and maintain the Collection Account in the Trustee's name, for the benefit of the Certificateholders and the Trustee as the Holder of the Lower-Tier Regular Interests. The Collection Account shall be established and maintained as an Eligible Account. The Servicer shall deposit or cause to be deposited in the Collection Account within ___ Business Day following receipt the following payments and collections received or made by it on or with respect to the Mortgage Loans:
Collection Account; Distribution Account. (a) On behalf of the Trust Fund, the Master Servicer shall establish and maintain, or cause to be established and maintained, one or more accounts (such account or accounts, the “Collection Account”), held in trust for the benefit of the Trustee, the Certificate Insurer and the Certificateholders. On behalf of the Trust Fund, the Master Servicer shall deposit or cause to be deposited in the clearing account in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Master Servicer’s receipt thereof, and shall thereafter deposit in the Collection Account, in no event more than two Business Days after the Master Servicer’s receipt thereof, as and when received or as otherwise required hereunder, the following payments and collections received or made by it subsequent to the Cut-off Date (other than in respect of principal or interest on the Mortgage Loans due on or before the Cut-off Date) or payments (other than Principal Prepayments) received by it on or prior to the Cut-off Date, but allocable to a Remittance Period subsequent thereto:
Collection Account; Distribution Account. (a) Prior to the Closing Date, the Trustee shall open and maintain an account (which shall be comprised of a depository account and a daily investment account (collectively, the "Collection Account")), which at all times shall be an Eligible Account and which may be established at the Clearing Account Bank, for the benefit of the Noteholders, for the receipt of (i) amounts deposited by the Subservicer into the Clearing Account and (ii) any Reinvestment Income. Funds in the -63- 69 Collection Account shall not be commingled with any other monies. All monies deposited from time to time in the Collection Account pursuant to this Indenture shall be held in the name of the Trustee as part of the Trust Estate as herein provided. The fees relating to the Collection Account shall be paid out of the investment income of the Collection Account, and the Servicer and the Issuer shall be responsible for paying any fees or expenses not paid out of such investment income. The Trustee shall not be responsible for paying such fees and expenses. Prior to the Closing Date, the Trustee shall open and maintain a trust account (the "Distribution Account"), which at all times shall be an Eligible Account for the benefit of the Noteholders, for the receipt of (i) amounts transferred from the Collection Account pursuant to Section 12.02(d) hereof, and (ii) amounts transferred from the Reserve Account in accordance with Section 12.03(d)(i) and (iii) hereof. Funds in the Distribution Account shall not be commingled with any other monies. All payments to be made from time to time by the Issuer to the Noteholders out of funds in the Distribution Account pursuant to this Indenture shall be made by the Trustee or the Paying Agent of the Issuer. All monies deposited from time to time in the Distribution Account pursuant to this Indenture shall be held by the Trustee as part of the Trust Estate as herein provided. Amounts deposited in the Distribution Account shall remain uninvested; provided, however, that if the Trustee has actual knowledge that any such amounts will remain in the Distribution Account more than one Business Day after the day amounts are deposited in such account, such amounts shall be deposited in Eligible Investments, and any earnings thereon shall be remitted by the Trustee to Collection Account.
Collection Account; Distribution Account. Section 3.11 Withdrawals from the Collection Account and Distribution Account.
Collection Account; Distribution Account. Grantor Trust Collection Account; Grantor Trust Distribution Account and Excess Liquidation Proceeds Account............................76 SECTION 3.6. Permitted Withdrawals from the Collection Account and Grantor Trust Collection Account...............................78 SECTION 3.7. Investment of Funds in Accounts................................80
Collection Account; Distribution Account. Grantor ------------------------------------------------------ Trust Collection Account, Grantor Trust Distribution Account and Excess ----------------------------------------------------------------------- Liquidation Proceeds Account. ----------------------------
Collection Account; Distribution Account. (a) On behalf of the Trust Fund, the Servicer shall establish and maintain, or cause to be established and maintained, one or more accounts (such account or accounts, the “Collection Account”), held in trust for the benefit of the Trustee, the Certificate Insurer and the Certificateholders. The Collection Account shall be an Eligible Account. On behalf of the Trust Fund, the Servicer shall deposit or cause to be deposited in the clearing account in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Servicer’s receipt thereof, and shall thereafter deposit in the Collection Account, in no event more than two Business Days after the Servicer’s receipt thereof, as and when received or as otherwise required hereunder, the following payments and collections received or made by it subsequent to the Cut-off Date (other than in respect of principal or interest on the Mortgage Loans due on or before the Cut-off Date) or payments (other than Principal Prepayments) received by it on or prior to the Cut-off Date, but allocable to a Remittance Period subsequent thereto:
Collection Account; Distribution Account. (a) On behalf of the Trust Fund, the Servicer shall establish and maintain, or cause to be established and maintained, one or more accounts (such account or accounts, the "Collection Account"), held in trust for the benefit of the Trustee, the Certificate Insurer and the Certificateholders. The Collection Account shall be an Eligible Account. On behalf of the Trust Fund, the Servicer shall deposit or cause to be deposited in the clearing account in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Servicer's receipt thereof, and shall thereafter deposit in the Collection Account, in no event more than two Business Days after the Servicer's receipt thereof, as and when received or as otherwise required hereunder, the following payments and collections received or made by it subsequent to the Cut-off Date (other than in respect of principal or interest on the Mortgage Loans due on or before the Cut-off Date) or payments (other than Principal Prepayments) received by it on or prior to the Cut-off Date, but allocable to a Remittance Period subsequent thereto:
Collection Account; Distribution Account. Interest Reserve Account; Middle-Tier Distribution Account and Upper-Tier Distribution Account........................79 SECTION 3.06. Permitted Withdrawals from the Collection Account..............
Collection Account; Distribution Account. Upper-Tier Distribution Account, Excess Interest Distribution
