Common use of Collection of Moneys Clause in Contracts

Collection of Moneys. Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall hold all such money and property received by it as part of the Trust Estate and shall apply it as provided in this Indenture. If the Indenture Trustee shall not have received the Remittable Funds by close of business on any related Deposit Date, the Indenture Trustee shall, unless the Issuer or the Servicer shall have made provisions satisfactory to the Indenture Trustee for delivery to the Indenture Trustee of an amount equal to such Remittable Funds, deliver a notice, with a copy to the Note Insurer, to the Issuer and the Servicer of their failure to remit such Remittable Funds and that such failure, if not remedied by the close of business on the Business Day after the date upon which such notice is delivered to the Servicer, shall constitute an event of default under the Servicing Agreement. If the Indenture Trustee shall subsequently receive any such Remittable Funds by 2:00 p.m. Eastern Time on such Business Day, such Event of Default shall not be deemed to have occurred. Notwithstanding any other provision hereof, the Indenture Trustee shall deliver to the Issuer or the Servicer, or their respective designee or assignee, any Remittable Funds received with respect to a Mortgage Loan after the related Deposit Date to the extent that the Issuer or the Servicer, respectively, previously made payment or provision for payment with respect to such Remittable Funds in accordance with this Section 8.01, and any such Remittable Funds shall not be deemed part of the Trust Estate. Except as otherwise expressly provided in this Indenture and the Servicing Agreement, if, following delivery by the Indenture Trustee of the notice described above, the Servicer shall fail to remit the Remittable Funds on any Deposit Date, the Indenture Trustee shall deliver a second notice to the Servicer, the Issuer and the Note Insurer by 2:00 p.m. Eastern Time on the third Business Day prior to the related Payment Date indicating that an event of default occurred and is continuing under the Servicing Agreement. Thereupon, the Indenture Trustee shall take such actions as are required of the Indenture Trustee under Article VI of the Servicing Agreement. In addition, if a default occurs in any other performance required under the Servicing Agreement, the Indenture Trustee may, and upon the request of the Note Insurer or, with the consent of the Note Insurer, the Holders of Notes representing more than 50% of the Note Balance of the Outstanding Notes shall, take such action as may be appropriate to enforce such payment or performance including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and to proceed thereafter as provided in Article V.

Collection of Moneys. Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall hold all such money and property received by it as part of the Trust Estate and shall apply it as provided in this Indenture. If the Indenture Trustee shall not have received the Remittable Funds by close of business on any related Deposit Servicer Remittance Date, the Indenture Trustee shall, unless the Issuer or the Servicer shall have made provisions satisfactory to the Indenture Trustee for delivery to the Indenture Trustee of an amount equal to such Remittable Funds, deliver a notice, with a copy to the Note Insurer, to the Issuer and to the Servicer of their the Servicer's failure to remit such Remittable Funds and that such failure, if not remedied by the close of business on the Business Day after the date upon which such notice is delivered to the Servicer, shall constitute an event of default under the Servicing Agreement. If the Indenture Trustee shall subsequently receive any such Remittable Funds by 2:00 p.m. Eastern Time on such Business Day, such Event event of Default default shall not be deemed to have occurred. Notwithstanding any other provision hereof, the Indenture Trustee shall deliver to the Issuer or the Servicer, or their respective designee or assignee, any Remittable Funds received with respect to a Mortgage Loan after the related Deposit Servicer Remittance Date to the extent that the Issuer or the Servicer, respectively, previously made payment or provision for payment with respect to such Remittable Funds in accordance with this Section 8.01, and any such Remittable Funds shall not be deemed part of the Trust Estate. Except as otherwise expressly provided in this Indenture and the Servicing Agreement, if, following delivery by the Indenture Trustee of the notice described above, the Servicer shall fail to remit the Remittable Funds on any Deposit Servicer Remittance Date, the Indenture Trustee shall deliver a second notice to the Servicer, the Issuer and the Note Insurer by 2:00 p.m. Eastern Time on the third Business Day prior to the related Payment Date indicating that an event of default occurred and is continuing under the Servicing Agreement. Thereupon, the Indenture Trustee shall take such actions as are required of the Indenture Trustee under Article VI V of the Servicing Agreement. In addition, if a default occurs in any other performance required under the Servicing Agreement, the Indenture Trustee may, with the consent of the Note Insurer, and upon the request of the Note Insurer or, with the consent of the Note Insurer, the Holders of Notes representing more than 50% of the Note Balance of the Outstanding Notes of both Classes shall, take such action as may be appropriate to enforce such payment or performance including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and to proceed thereafter as provided in Article V.

Collection of Moneys. Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall hold all such money and property received by it as part of the Trust Estate with respect to which it was received, and shall apply it as provided in this Indenture. If the Indenture Trustee shall not have received a Distribution with respect to any Certificate by the Remittable Funds by close of business on any Business Day immediately following the related Deposit Distribution Date, the Indenture Trustee shall, unless the Issuer or the Servicer shall have made provisions satisfactory to the Indenture Trustee for delivery to the Indenture Trustee of an amount equal to such Remittable FundsDistribution, deliver a noticerequest the issuer or guarantor of such Certificate, with a copy to the Note Insureras appropriate, to the Issuer and the Servicer of their failure to remit make such Remittable Funds and that such failure, if not remedied by the close of business on the Business Day after the date upon which such notice is delivered to the Servicer, shall constitute an event of default under the Servicing Agreementpayment as promptly as practicable or legally permitted. If the Indenture Trustee shall subsequently receive any such Remittable Funds by 2:00 p.m. Eastern Time on Distribution, it may withdraw such Business Day, such Event of Default shall not be deemed to have occurredrequest. Notwithstanding any other provision hereof, the Indenture Trustee shall deliver to the Issuer or the Servicer, or their respective its designee or assignee, assignee any Remittable Funds Distribution received with respect to a Mortgage Loan Certificate after the related Deposit Distribution Date to the extent that the Issuer or the Servicer, respectively, previously made payment or provision for payment with respect to such Remittable Funds Distribution in accordance with this Section 8.018.1, and any such Remittable Funds Distribution shall not be deemed part of the Trust EstateEstate for the related Series. Except as otherwise expressly provided in this Indenture and the Servicing AgreementIndenture, if, following delivery any request by the Indenture Trustee for payment of a late Distribution, any default occurs in the notice described abovemaking of such payment, the Servicer shall fail to remit the Remittable Funds on any Deposit Date, the Indenture Trustee shall deliver a second notice to the Servicer, the Issuer and the Note Insurer by 2:00 p.m. Eastern Time on the third Business Day prior to the related Payment Date indicating that an event of default occurred and is continuing under the Servicing Agreement. Thereupon, the Indenture Trustee shall take such actions as are required of the Indenture Trustee under Article VI of the Servicing Agreement. In addition, or if a default occurs in any other performance required under the Servicing Agreementany Certificate with respect to any Series, the Indenture Trustee may, and upon the request of the Note Insurer or, with the consent of the Note Insurer, the Holders of Notes Bonds representing more than 50% of the Note Balance Aggregate Current Principal Amount of the Outstanding Notes Bonds of the affected Series shall, take such action as may be appropriate to enforce such payment or performance including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default with respect to such Series under this Indenture and to proceed thereafter as provided in Article V.

Collection of Moneys. Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall hold all such money and property received by it as part of the Trust Estate and shall apply it as provided in this Indenture. If the Indenture Trustee shall not have received the Remittable Funds by close of business on any related Deposit Payment Date, the Indenture Trustee shall, unless the Issuer or the Servicer shall have made provisions satisfactory to the Indenture Trustee for delivery to the Indenture Trustee of an amount equal to such Remittable Funds, deliver a noticenotice to the Master Servicer, [with a copy to the Note Insurer, to ,] the Issuer and the Servicer Servicer, of their failure to remit such Remittable Funds and that such failure, if not remedied by the close of business on the Business Day after fifth day following the date upon which such notice is delivered to the Servicerrelated Payment Date, shall constitute an event of default under the Servicing Agreement. If the Indenture Trustee shall subsequently receive any such Remittable Funds by 2:00 p.m. Eastern Time on such Business Day, such Event of Default shall not be deemed to have occurredunder this Indenture. Notwithstanding any other provision hereof, the Indenture Trustee shall deliver to the Issuer or the Servicer, or their respective designee or assignee, any Remittable Funds received with respect to a Mortgage Home Loan after the related Deposit Payment Date to the extent that the Issuer or the Servicer, respectively, previously made payment or provision for payment with respect to such Remittable Funds in accordance with this Section 8.01, and any such Remittable Funds shall not be deemed part of the Trust Estate. Except as otherwise expressly provided in this Indenture and the Master Servicing Agreement, if, following delivery by the Indenture Trustee of the notice described above, the Issuer or the Master Servicer shall fail to remit the Remittable Funds on any Deposit Payment Date, the Indenture Trustee shall deliver a second notice to the Servicer, the Issuer and the Note Insurer by 2:00 p.m. Eastern Time on the third Business Day prior to the related Payment Date indicating that an event of default occurred and is continuing under the Servicing Agreement. Thereupon, the Indenture Trustee shall take such actions actions, if any, as are required of the Indenture Trustee under Article VI of the Master Servicing Agreement. In addition, if a default Master Servicer Default occurs in any other performance required under the Master Servicing Agreement, the Indenture Trustee may, and [upon the request of the Note Insurer or, with the consent of the Note Insurer, Insurer (unless a Note Insurer Default then exists),] the Holders of Notes representing more than 50% of the Note Balance of the Outstanding Notes shall, take such action as may be appropriate to enforce such payment or performance by the Master Servicer of its obligations under the Master Servicing Agreement, including the institution and prosecution of appropriate Proceedings. [If at the time a Master Servicer Default occurs there also exists a Note Insurer Default, such Noteholders may take such action directly in the event that the Indenture Trustee and the Master Servicer are one and the same Person.] Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and to proceed thereafter as provided in Article V.

Collection of Moneys. Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall hold all such money and property received by it as part of the Trust Estate and shall apply it as provided in this Indenture. If the Indenture Trustee shall not have received the Remittable Funds by close of business on any related Deposit Date, the Indenture Trustee shall, unless the Issuer or the Servicer shall have made provisions satisfactory to the Indenture Trustee for delivery to the Indenture Trustee of an amount equal to such Remittable Funds, deliver a notice, with a copy to the Note Insurer, notice to the Issuer and the Servicer of their failure to remit such Remittable Funds and that such failure, if not remedied by the close of business on the Business Day after the date upon which such notice is delivered to the Servicer, shall constitute an event of default under the Servicing Agreement. If the Indenture Trustee shall subsequently receive any such Remittable Funds by 2:00 p.m. Eastern Time on such Business Day, such Event event of Default default shall not be deemed to have occurred. Notwithstanding any other provision hereof, the Indenture Trustee shall deliver to the Issuer or the Servicer, or their respective designee or assignee, any Remittable Funds received with respect to a Mortgage Loan after the related Deposit Date to the extent that the Issuer or the Servicer, respectively, previously made payment or provision for payment with respect to such Remittable Funds in accordance with this Section 8.01, and any such Remittable Funds shall not be deemed part of the Trust Estate. Except as otherwise expressly provided in this Indenture and the Servicing Agreement, if, following delivery by the Indenture Trustee of the notice described above, the Servicer shall fail to remit the Remittable Funds on any Deposit Dateby 2:00 p.m. Eastern Time of the Business Day after which such notice is delivered to the Servicer, the Indenture Trustee shall deliver a second notice to the Servicer, Servicer and the Issuer and the Note Insurer by 2:00 p.m. Eastern Time on the third Business Day prior to the related Payment Date indicating that an event of default occurred and is continuing under the Servicing Agreement. Thereupon, the Indenture Trustee shall take such actions as are required of the Indenture Trustee under Article VI of the Servicing Agreement. In addition, if a default occurs in any other performance required under the Servicing Agreement, the Indenture Trustee may, and upon the request of the Note Insurer or, with the consent of the Note Insurer, the Holders of Notes Bonds representing more than 50% of the Note Bond Balance of the Outstanding Notes Bonds shall, take such action as may be appropriate to enforce such payment or performance including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and to proceed thereafter as provided in Article V.appropriate

Collection of Moneys. Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall hold all such money and property received by it as part of the Trust Estate and shall apply it as provided in this Indenture. If the Indenture Trustee shall not have received the Remittable Funds by close of business on any related Deposit Date, the Indenture Trustee shall, unless the Issuer or the Servicer shall have made provisions satisfactory to the Indenture Trustee for delivery to the Indenture Trustee of an amount equal to such Remittable Funds, deliver a notice, with a copy to the Note Insurer, notice to the Issuer and the Servicer of their failure to remit such Remittable Funds and that such failure, if not remedied by the close of business on the Business Day after the date upon which such notice is delivered to the Servicer, shall constitute an event of default under the Servicing Agreement. If the Indenture Trustee shall subsequently receive any such Remittable Funds by 2:00 p.m. Eastern Time on such Business Day, such Event event of Default default shall not be deemed to have occurred. Notwithstanding any other provision hereof, the Indenture Trustee shall deliver to the Issuer or the Servicer, or their respective designee or assignee, any Remittable Funds received with respect to a Mortgage Loan after the related Deposit Date to the extent that the Issuer or the Servicer, respectively, previously made payment or provision for payment with respect to such Remittable Funds in accordance with this Section 8.01, and any such Remittable Funds shall not be deemed part of the Trust Estate. Except as otherwise expressly provided in this Indenture and the Servicing Agreement, if, following delivery by the Indenture Trustee of the notice described above, the Servicer shall fail to remit the Remittable Funds on any Deposit Dateby 2:00 p.m. Eastern Time of the Business Day after which such notice is delivered to the Servicer, the Indenture Trustee shall deliver a second notice to the Servicer, Servicer and the Issuer and the Note Insurer by 2:00 p.m. Eastern Time on the third Business Day prior to the related Payment Date indicating that an event of default occurred and is continuing under the Servicing Agreement. Thereupon, the Indenture Trustee shall take such actions as are required of the Indenture Trustee under Article VI of the Servicing Agreement. In addition, if a default occurs in any other performance required under the Servicing Agreement, the Indenture Trustee may, and upon the request of the Note Insurer or, with the consent of the Note Insurer, the Holders of Notes Bonds representing more than 50% of the Note Bond Balance of the Outstanding Notes Bonds shall, take such action as may be appropriate to enforce such payment or performance including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and to proceed thereafter as provided in Article V.

Collection of Moneys. Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall hold all such money and property received by it as part of the Trust Estate and shall apply it as provided in this Indenture. If the Indenture Trustee shall not have received the Remittable Funds a Remittance by close of business on any related Deposit Remittance Date, the Indenture Trustee shall, unless the Issuer or the Servicer shall have made provisions satisfactory to the Indenture Trustee for delivery to the Indenture Trustee of an amount equal to such Remittable FundsRemittance, deliver a notice, with a copy to the Note Insurer, notice to the Issuer and the Servicer of their failure to remit make such Remittable Funds Remittance and that such failure, if not remedied by the close of business [2:00 p.m. Eastern Time] on the Business Day after immediately preceding the date upon which such notice is delivered to the Servicer, related Payment Date shall constitute an event Event of default under the Servicing AgreementDefault. If the Indenture Trustee shall subsequently receive any such Remittable Funds Remittance by [2:00 p.m. Eastern Time Time] on such the Business DayDay immediately preceding the related Payment Date, such Event of Default shall not be deemed to have occurred. Notwithstanding any other provision hereof, the Indenture Trustee shall deliver to the Issuer or the Servicer, or their respective its designee or assignee, assignee any Remittable Funds Remittance received with respect to a Mortgage Loan after the related Deposit Remittance Date to the extent that the Issuer or the Servicer, respectively, previously made payment or provision for payment 63 75 with respect to such Remittable Funds Remittance in accordance with this Section 8.01, and any such Remittable Funds Remittance shall not be deemed part of the Trust Estate. Except as otherwise expressly provided in this Indenture and the Servicing AgreementIndenture, if, following delivery by the Indenture Trustee of the notice described above, the Servicer shall fail to remit the Remittable Funds on any Deposit Datemake such Remittance, the Indenture Trustee shall deliver a second notice to the Servicer, Servicer and the Issuer and the Note Insurer by 2:00 p.m. [9:00 a.m. Eastern Time Time] on the third Business Day prior to the related Payment Date indicating that an event of default occurred and is continuing under terminating the Servicing AgreementServicer. Thereupon, the Indenture Trustee shall take make a deposit in the Bond Account of such actions as are required of Remittance for such Payment Date (provided, however, that the Indenture Trustee under Article VI Trustee's responsibility to make such deposit shall be limited to the Trustee's determination, in its sole discretion, that such deposit if made would be recoverable) and, pursuant to Section 8.11 hereof and Section [ ] of the Servicing Agreement, assume the duties of the Servicer. In addition, if a default occurs in any other performance required under the Servicing AgreementAgreement or any Insurance Policy, the Indenture Trustee may, and upon the request of the Note Insurer or, with the consent of the Note Insurer, the Holders of Notes Bonds representing more than 50[ ]% of the Note Bond Balance of the Outstanding Notes Bonds shall, take such action as may be appropriate to enforce such payment or performance including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and to proceed thereafter as provided in Article V.

Collection of Moneys. Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall hold all such money and property received by it as part of the Trust Estate and shall apply it as provided in this Indenture. If the Indenture Trustee shall not have received the Remittable Funds by close of business on any related Deposit Date, the Indenture Trustee shall, unless the Issuer or the Servicer shall have made provisions satisfactory to the Indenture Trustee for delivery to the Indenture Trustee of an amount equal to such Remittable Funds, deliver a notice, with a copy to the Note Insurer, notice to the Issuer and the Servicer of their failure to remit such Remittable Funds and that such failure, if not remedied by the close of business 2:00 p.m. Eastern Time on the Business Day after immediately preceding the date upon which such notice is delivered to the Servicer, related Payment Date shall constitute an event Event of default under the Servicing AgreementDefault. If the Indenture Trustee shall subsequently receive any such Remittable Funds by 2:00 p.m. Eastern Time on such the Business DayDay immediately preceding the related Payment Date, such Event of Default shall not be deemed to have occurred. Notwithstanding any other provision hereof, the Indenture Trustee shall deliver to the Issuer or the Servicer, or their respective its designee or assignee, assignee any Remittable Funds received with respect to a Mortgage Loan after the related Deposit Date to the extent that the Issuer or the Servicer, respectively, previously made payment or provision for payment with respect to such Remittable Funds in accordance with this Section 8.01, and any such Remittable Funds shall not be deemed part of the Trust Estate. Except as otherwise expressly provided in this Indenture and the Servicing Agreement, if, following delivery by the Indenture Trustee of the notice described above, the Servicer shall fail to remit the Remittable Funds on any Deposit Date, the Indenture Trustee shall deliver a second notice to the Servicer, the Issuer and the Note Bond Insurer by 2:00 p.m. Eastern Time on the third Business Day prior to the related Payment Date indicating that an event of default occurred and is continuing under the Servicing Agreement. Thereupon, the Indenture Trustee shall take make a deposit in the Bond Account of such actions as are required of Remittable Funds for such Payment Date (provided, however, that the Indenture Trustee under Article VI Trustee's responsibility to make such deposit shall be limited to the Indenture Trustee's determination, in its reasonable discretion, that such deposit if made would be recoverable) and, pursuant to Section 8.12 hereof and Section 6.02 of the Servicing Agreement, assume, upon the direction of the Bond Insurer, the duties of the Servicer. In addition, if a default occurs in any other performance required under the Servicing AgreementAgreement or any Insurance Policy, the Indenture Trustee may, and upon the request of the Note Bond Insurer or, with the consent of the Note Bond Insurer, the Holders of Notes Bonds representing more than 50% of the Note Bond Balance of the Outstanding Notes Bonds shall, take such action as may be appropriate to enforce such payment or performance including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and to proceed thereafter as provided in Article V.

Collection of Moneys. Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall hold all such money and property received by it as part of the Trust Estate and shall apply it as provided in this Indenture. If the Indenture Trustee shall not have received the Remittable Funds for a Group by close of business on any related Deposit Date, the Indenture Trustee shall, unless the Issuer or the Servicer shall have made provisions satisfactory to the Indenture Trustee for delivery to the Indenture Trustee of an amount equal to such Remittable Funds, deliver a notice, with a copy to the Note Insurer, to the Issuer and the Servicer of their failure to remit such Remittable Funds and that such failure, if not remedied by the close of business on the Business Day after the date upon which such notice is delivered to the Servicer, shall constitute an event of default under the Servicing Agreement. If the Indenture Trustee shall subsequently receive any such Remittable Funds by 2:00 p.m. Eastern Time on such Business Day, such Event of Default shall not be deemed to have occurred. Notwithstanding any other provision hereof, the Indenture Trustee shall deliver to the Issuer or the Servicer, or their respective designee or assignee, any Remittable Funds received with respect to a Mortgage Loan after the related Deposit Date to the extent that the Issuer or the Servicer, respectively, previously made payment or provision for payment with respect to such Remittable Funds in accordance with this Section 8.01, and any such Remittable Funds shall not be deemed part of the Trust Estate. Except as otherwise expressly provided in this Indenture and the Servicing Agreement, if, following delivery by the Indenture Trustee of the notice described above, the Servicer shall fail to remit the Remittable Funds for a Group on any Deposit Date, the Indenture Trustee shall deliver a second notice to the Servicer, the Issuer and the Note Insurer by 2:00 p.m. Eastern Time on the third Business Day prior to the related Payment Date indicating that an event of default occurred and is continuing under the Servicing Agreement. Thereupon, the Indenture Trustee shall take such actions as are required of the Indenture Trustee under Article VI of the Servicing Agreement. In addition, if a default occurs in any other performance required under the Servicing Agreement, the Indenture Trustee may, and upon the request of the Note Insurer or, with the consent of the Note Insurer, the Holders of Notes representing more than 50% of the Note Balance of the Outstanding Notes shall, take such action as may be appropriate to enforce such payment or performance including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and to proceed thereafter as provided in Article V.

Collection of Moneys. Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall hold all such money and property received by it as part of the Trust Estate and shall apply it as provided in this Indenture. If the Indenture Trustee shall not have received the Remittable Funds by close of business on any related Deposit Remittance Date, the Indenture Trustee shall, unless the Issuer or the Servicer shall have made provisions satisfactory to the Indenture Trustee for delivery to the Indenture Trustee of an amount equal to such Remittable Funds, deliver a notice, with a copy to the Note Insurer, notice to the Issuer and the Servicer of their failure to remit such Remittable Funds and that such failure, if not remedied by the close of business 2:00 p.m. Eastern Time on the Business Day after immediately preceding the date upon which such notice is delivered to the Servicer, related Payment Date shall constitute an event Event of default under the Servicing AgreementDefault. If the Indenture Trustee shall subsequently receive any such Remittable Funds by 2:00 p.m. Eastern Time on such the Business DayDay immediately preceding the related Payment Date, such Event of Default shall not be deemed to have occurred. Notwithstanding any other provision hereof, the Indenture Trustee shall deliver to the Issuer or the Servicer, or their respective its designee or assignee, assignee any Remittable Funds received with respect to a Mortgage Loan after the related Deposit Remittance Date to the extent that the Issuer or the Servicer, respectively, previously made payment or provision for payment with respect to such Remittable Funds in accordance with this Section 8.01, and any such Remittable Funds shall not be deemed part of the Trust Estate. Except as otherwise expressly provided in this Indenture and the Servicing Agreement, if, following delivery by the Indenture Trustee of the notice described above, the Servicer shall fail to remit the Remittable Funds on any Deposit Remittance Date, the Indenture Trustee shall deliver a second notice to the Servicer, the Issuer and the Note Bond Insurer by 2:00 p.m. Eastern Time on the third Business Day prior to the related Payment Date indicating that an event of default occurred and is continuing under the Servicing Agreement. Thereupon, the Indenture Trustee shall take make a deposit in the Bond Account of such actions as are required of Remittable Funds for such Payment Date (provided, 72 however, that the Indenture Trustee under Article VI Trustee's responsibility to make such deposit shall be limited to the Indenture Trustee's determination, in its reasonable discretion, that such deposit if made would be recoverable) and, pursuant to Section 8.14 hereof and Section 6.02 of the Servicing Agreement, assume, upon the direction of the Bond Insurer, the duties of the Servicer. In addition, if a default occurs in any other performance required under the Servicing AgreementAgreement or any Insurance Policy, the Indenture Trustee may, and upon the request of the Note Bond Insurer or, with the consent of the Note Bond Insurer, the Holders of Notes Bonds representing more than 50% of the Note Bond Balance of the Outstanding Notes Bonds shall, take such action as may be appropriate to enforce such payment or performance including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and to proceed thereafter as provided in Article V.

Collection of Moneys. Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall hold all such money and property received by it as part of the Trust Estate and shall apply it as provided in this Indenture. If the Indenture Trustee shall not have received the Remittable Funds Monthly Remittance Amount by close of business on any related Deposit Monthly Remittance Date, the Indenture Trustee shall, unless the Issuer or the Master Servicer shall have made provisions satisfactory to the Indenture Trustee for delivery to the Indenture Trustee of an amount equal to such Remittable FundsMonthly Remittance Amount, deliver a notice, with a copy to the Note Insurer, to the Issuer and the Master Servicer of their failure to remit such Remittable Funds Monthly Remittance Amount and that such failure, if not remedied by the close of business on the Business Day after the date upon which such notice is delivered to the Master Servicer, shall constitute an event of default under the Servicing Agreement. If the Indenture Trustee shall subsequently receive any such Remittable Funds Monthly Remittance Amount by 2:00 p.m. Eastern Time on such Business Day, such Event of Default shall not be deemed to have occurred. Notwithstanding any other provision hereof, the Indenture Trustee shall deliver to the Issuer or the Master Servicer, or their respective designee or assignee, any Remittable Funds Monthly Remittance Amount received with respect to a Mortgage Home Equity Loan after the related Deposit Monthly Remittance Date to the extent that the Issuer or the Master Servicer, respectively, previously made payment or provision for payment with respect to such Remittable Funds Monthly Remittance Amount in accordance with this Section 8.01, and any such Remittable Funds Monthly Remittance Amount shall not be deemed part of the Trust Estate. Except as otherwise expressly provided in this Indenture and the Servicing Agreement, if, following delivery by the Indenture Trustee of the notice described above, the Master Servicer shall fail to remit the Remittable Funds Monthly Remittance Amount on any Deposit Monthly Remittance Date, the Indenture Trustee shall deliver a second notice to the Master Servicer, the Issuer and the Note Insurer by 2:00 p.m. Eastern Time on the third Business Day prior to the related Payment Date indicating that an event of default occurred and is continuing under the Servicing Agreement. Thereupon, the Indenture Trustee shall take such actions as are required of the Indenture Trustee under Article VI of the Servicing Agreement. In addition, if a default occurs in any other performance required under the Servicing Agreement, the Indenture Trustee may, and upon the request of the Note Insurer or, with the consent of the Note Insurer, the Holders of Notes representing more than 50% of the Note Balance of the Outstanding Notes shall, take such action as may be appropriate to enforce such payment or performance including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and to proceed thereafter as provided in Article V.

Collection of Moneys. Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall hold all such money and property received by it as part of the Trust Estate and shall apply it as provided in this Indenture. If the Indenture Trustee shall not have received the Remittable Funds by close of business on any related Deposit Date, the Indenture Trustee shall, unless the Issuer or the Servicer shall have made provisions satisfactory to the Indenture Trustee for delivery to the Indenture Trustee of an amount equal to such Remittable Funds, deliver a notice, with a copy to the Note Bond Insurer, to the Issuer and the Servicer of their failure to remit such Remittable Funds and that such failure, if not remedied by the close of business on the Business Day after the date upon which such notice is delivered to the Servicer, shall constitute an event of default under the Servicing Agreement. If the Indenture Trustee shall subsequently receive any such Remittable Funds by 2:00 p.m. Eastern Time on such Business Day, such Event of Default shall not be deemed to have occurred. Notwithstanding any other provision hereof, the Indenture Trustee shall deliver to the Issuer or the Servicer, or their respective designee or assignee, any Remittable Funds received with respect to a Mortgage Loan after the related Deposit Date to the extent that the Issuer or the Servicer, respectively, previously made payment or provision for payment with respect to such Remittable Funds in accordance with this Section 8.01, and any such Remittable Funds shall not be deemed part of the Trust Estate. Except as otherwise expressly provided in this Indenture and the Servicing Agreement, if, following delivery by the Indenture Trustee of the notice described above, the Servicer shall fail to remit the Remittable Funds on any Deposit Date, the Indenture Trustee shall deliver a second notice to the Servicer, the Issuer and the Note Bond Insurer by 2:00 p.m. Eastern Time on the third Business Day prior to the related Payment Date indicating that an event of default occurred and is continuing under the Servicing Agreement. Thereupon, the Indenture Trustee shall take such actions as are required of the Indenture Trustee under Article VI of the Servicing Agreement. In addition, if a default occurs in any other performance required under the Servicing Agreement, the Indenture Trustee may, and upon the request of the Note Bond Insurer or, with the consent of the Note Bond Insurer, the Holders of Notes Bonds representing more than 50% of the Note Bond Balance of the Outstanding Notes Bonds shall, take such action as may be appropriate to enforce such payment or performance including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and to proceed thereafter as provided in Article V.

Collection of Moneys. Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall hold all such money and property received by it as part of the Trust Estate Fund and shall apply it as provided in this Indenture. If the Indenture Trustee shall not have received the Remittable Available Funds by close of business on any related Deposit Remittance Date, the Indenture Trustee shall, unless the Issuer or the Servicer shall have made provisions satisfactory to the Indenture Trustee for delivery to the Indenture Trustee of an amount equal to such Remittable Available Funds, deliver a notice, with a copy to the Note Insurer, notice to the Issuer and the Servicer of their failure to remit such Remittable Available Funds and that such failure, if not remedied by the close of business on the Business Day after the date upon which such notice is delivered to the Servicer, shall constitute an event of default under the Servicing Agreement. If the Indenture Trustee shall subsequently receive any such Remittable Available Funds by 2:00 p.m. Eastern Time on such Business Day, such Event of Default shall not be deemed to have occurred. Notwithstanding any other provision hereof, the Indenture Trustee shall deliver to the Issuer or the Servicer, or their respective designee or assignee, any Remittable Available Funds received with respect to a Mortgage Loan after the related Deposit Remittance Date to the extent that the Issuer or the Servicer, respectively, previously made payment or provision for payment with respect to such Remittable Available Funds in accordance with this Section 8.01, and any such Remittable Available Funds shall not be deemed part of the Trust EstateFund. Except as otherwise expressly provided in this Indenture and the Servicing Agreement, if, following delivery by the Indenture Trustee of the notice described above, the Servicer shall fail to remit the Remittable Available Funds on any Deposit Remittance Date, the Indenture Trustee shall deliver a second notice to the Servicer, Servicer and the Issuer and the Note Insurer by 2:00 p.m. Eastern Time on the third Business Day prior to the related Payment Distribution Date indicating that an event of default occurred and is continuing under the Servicing Agreement. Thereupon, the Indenture Trustee shall take such actions as are required of the Indenture Trustee under Article VI of the Servicing Agreement. In addition, if a default occurs in any other performance required under the Servicing Agreement, the Indenture Trustee may, and or upon the request of the Note Insurer or, with the consent of the Note Insurer, instruction by the Holders of Notes representing more than 50% of the Note Principal Balance of the Outstanding Notes shall, take such action as may be appropriate to enforce such payment or performance including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and to proceed thereafter as provided in Article V.

Collection of Moneys. Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this Indenture. The Indenture Trustee shall hold all such money and property received by it as part of the Trust Estate and shall apply it as provided in this Indenture. If the Indenture Trustee shall not have received the Remittable Funds by close of business on any related Deposit Payment Date, the Indenture Trustee shall, unless the Issuer or the Servicer shall have made provisions satisfactory to the Indenture Trustee for delivery to the Indenture Trustee of an amount equal to such Remittable Funds, deliver a noticenotice to the Master Servicer, with a copy to the Note Insurer, to the Issuer and the Servicer Servicer, of their failure to remit such Remittable Funds and that such failure, if not remedied by the close of business on the Business Day after fifth day following the date upon which such notice is delivered to the Servicerrelated Payment Date, shall constitute an event of default under the Servicing Agreement. If the Indenture Trustee shall subsequently receive any such Remittable Funds by 2:00 p.m. Eastern Time on such Business Day, such Event of Default shall not be deemed to have occurredunder this Indenture. Notwithstanding any other provision hereof, the Indenture Trustee shall deliver to the Issuer or the Servicer, or their respective designee or assignee, any Remittable Funds received with respect to a Mortgage Home Loan after the related Deposit Payment Date to the extent that the Issuer or the Servicer, respectively, previously made payment or provision for payment with respect to such Remittable Funds in accordance with this Section 8.01, and any such Remittable Funds shall not be deemed part of the Trust Estate. Except as otherwise expressly provided in this Indenture and the Servicing Agreement, if, following delivery by the Indenture Trustee of the notice described above, the Issuer or the Servicer shall fail to remit the Remittable Funds on any Deposit Payment Date, the Indenture Trustee shall deliver a second notice to the Servicer, the Issuer and the Note Insurer by 2:00 p.m. Eastern Time on the third Business Day prior to the related Payment Date indicating that an event of default occurred and is continuing under the Servicing Agreement. Thereupon, the Indenture Trustee shall take such actions actions, if any, as are required of the Indenture Trustee under Article VI of the Servicing Agreement. In addition, if a default Master Servicer Default occurs in any other performance required under the Servicing Agreement, the Indenture Trustee may, and upon the request of the Note Insurer or, with the consent of the Note InsurerInsurer (unless a Note Insurer Default then exists), the Holders of Notes representing more than 50% of the Note Balance of the Outstanding Notes shall, take such action as may be appropriate to enforce such payment or performance by the Master Servicer of its obligations under the Servicing Agreement, including the institution and prosecution of appropriate Proceedings. If at the time a Master Servicer Default occurs there also exists a Note Insurer Default, such Noteholders may take such action directly in the event that the Indenture Trustee and the Master Servicer are one and the same Person. Any such action shall be without prejudice to any right to claim a Default or Event of Default under this Indenture and to proceed thereafter as provided in Article V.

Collection of Moneys. Except as otherwise expressly provided herein, the Indenture Trustee may demand payment or delivery of, and shall receive and collect, directly and without intervention or assistance of any fiscal agent or other intermediary, all money and other property payable to or receivable by the Indenture Trustee pursuant to this the Indenture, including all payments due on the Certificates securing the Bonds in accordance with the terms and conditions of such Certificates. The Indenture Trustee shall hold all such money and property received by it as part of the Trust Estate with respect to which it was received, and shall apply it as provided in this the Indenture. If the Indenture Trustee shall not have received a Distribution with respect to any Certificate by the Remittable Funds by close of business on any first Business Day after the related Deposit Due Date, the Indenture Trustee shall, unless the Issuer or the Servicer shall have made provisions satisfactory to the Indenture Trustee for delivery to the Indenture Trustee of an any amount equal to such Remittable FundsDistribution, deliver a noticerequest that GNMA, with a copy FNMA, FHLMC, the Conventional Certificate Servicer or the Certificate Trustee, as the case may be, make available to the Note InsurerTrustee in immediately available funds such payments, to or take such other action as the Issuer and the Servicer of their failure to remit such Remittable Funds and that such failure, if not remedied by the close of business on the Business Day after the date upon which such notice is delivered to the Servicer, shall constitute an event of default under the Servicing Agreement. If the Indenture Trustee shall subsequently receive determine in accordance with the procedures of GNMA, FNMA, FHLMC, the Conventional Certificate Servicer or the Certificate Trustee then in effect, including procedures under any such Remittable Funds by 2:00 p.m. Eastern Time on such Business Day, such Event of Default shall not be deemed to have occurredagreements with the Issuer. Notwithstanding any other provision hereofof the Indenture, the Indenture Trustee shall deliver to the Issuer or the Servicer, or their respective its designee or assignee, any Remittable Funds Distribution received with respect to a Mortgage Loan any Certificate after the related Deposit Distribution Due Date to the extent that the Issuer or the Servicer, respectively, previously made payment or provision for payment with respect to such Remittable Funds Distribution in accordance with this Section 8.01, and any such Remittable Funds shall Distribution will not be deemed part of the Trust EstateEstate for the related Series. Except as otherwise expressly provided in this Indenture and the Servicing AgreementIndenture, if, following delivery by the Indenture Trustee of the notice described abovesuch request for payment, the Servicer shall fail to remit the Remittable Funds on any Deposit Date, the Indenture Trustee shall deliver a second notice to the Servicer, the Issuer and the Note Insurer by 2:00 p.m. Eastern Time on the third Business Day prior to the related Payment Date indicating that an event of default occurred and is continuing under the Servicing Agreement. Thereupon, the Indenture Trustee shall take such actions as are required of the Indenture Trustee under Article VI of the Servicing Agreement. In addition, if a default occurs in the making of such payment or in any other performance required under the Servicing Agreementany Certificate with respect to any Series, the Indenture Trustee may, and upon the request of the Note Insurer or, with the consent of the Note Insurer, the Holders of Notes Bonds representing more than 50% of the Note Balance then Aggregate Current Principal Amount of the Outstanding Notes Bonds of the affected Series shall, take such action as may be appropriate to enforce such payment or performance including the institution and prosecution of appropriate Proceedings. Any such action shall be without prejudice to any right to claim a Default or Event of Default with respect to such Series under this the Indenture and to proceed thereafter as provided in Article V.V hereof.