Common use of COLLECTIONS; INCOME PAYMENTS Clause in Contracts

COLLECTIONS; INCOME PAYMENTS. (a) Where a particular Transaction’s term extends over an Income payment date with respect to one or more Purchased Mortgage Loans subject to such Transaction, all such Income shall be the property of Buyer. Seller shall or shall cause the Master Servicer to deposit all Income within [*] following receipt (including, without limitation, receipt by any Subservicer) thereof (including, without limitation, all such Income that is required to be deposited therein pursuant to the applicable provisions of the Account Agreement) into a deposit account (the title of which shall indicate that the funds therein are being held in trust for Buyer) (the “Collection Account”) with the Bank and which is subject to the Account Agreement; provided that, if Seller or any Affiliate of Seller receives any direct payment of Income or if any Income is forwarded to Seller or any Affiliate of Seller, Seller or its Affiliate shall deposit all such Income into the Collection Account within twenty-four hours of receipt. Neither Seller nor Master Servicer may give any instruction with respect to the Collection Account. On the Payment Date, the Master Servicer shall prepare a detailed payment report in form and substance acceptable to Buyer, which sets forth a reconciliation of all Income received through but not including such Payment Date (excluding Income detailed in any such report provided in connection with a prior Payment Date), and the amount of Periodic Advance Repurchase Payment due on the Purchased Mortgage Loans and, based on such report as approved by Buyer, Buyer shall withdraw any funds on deposit in the Collection Account and remit such funds to be applied as follows: (1) any amounts due to Wilmington Savings Fund Society, FSB, as Owner Trustee of the Buyer; (2) any amounts due to Buyer on account of due and unpaid Price Differential in accordance with Section 5(b); (3) any amounts due to Buyer on account of a Margin Deficit in accordance with Section 4; (4) all amounts offset and applied by Buyer pursuant to Section 5(d); (5) any other Expenses, fees, including Facility Fees, or amounts due Buyer under the Repurchase Agreement; (6) any amounts due and owing under Section 15;

COLLECTIONS; INCOME PAYMENTS. (a) Where a particular Transaction’s term extends over an Income payment date with respect to one or more Purchased Mortgage Loans subject to such Transaction, all such Income shall be the property of Buyer. Seller shall or shall cause the Master Servicer to deposit all Income within [***] following receipt (including, without limitation, receipt by any Subservicer) thereof (including, without limitation, all such Income that is required to be deposited therein pursuant to the applicable provisions of the Account Agreement) into a deposit account (the title of which shall indicate that the funds therein are being held in trust for Buyer) (the “Collection Account”) with the Bank and which is subject to the Account Agreement; provided that, if Seller or any Affiliate of Seller receives any direct payment of Income or if any Income is forwarded to Seller or any Affiliate of Seller, Seller or its Affiliate shall deposit all such Income into the Collection Account within twenty-four hours of receipt. Neither Seller nor Master Servicer may give any instruction with respect to the Collection Account. On the Payment Date, the Master Servicer shall prepare a detailed payment report in form and substance acceptable to Buyer, which sets forth a reconciliation of all Income received through but not including such Payment Date (excluding Income detailed in any such report provided in connection with a prior Payment Date), and the amount of Periodic Advance Repurchase Payment due on the Purchased Mortgage Loans and, based on such report as approved by Buyer, Buyer shall withdraw any funds on deposit in the Collection Account and remit such funds to be applied as follows: (1) any amounts due to Wilmington Savings Fund Society, FSB, as Owner Trustee of the Buyer; (2) any amounts due to Buyer on account of due and unpaid Price Differential in accordance with Section 5(b); (3) any amounts due to Buyer on account of a Margin Deficit in accordance with Section 4; (4) all amounts offset and applied by Buyer pursuant to Section 5(d); (5) any other Expenses, fees, including Facility Fees, or amounts due Buyer under the Repurchase Agreement; (6) any amounts due and owing under Section 15;:

COLLECTIONS; INCOME PAYMENTS. (a) Where a particular Transaction’s term extends over an Income payment date with respect to one or more Purchased Mortgage Loans subject to such Transaction, all such Income shall be the property of Buyer. Seller shall or shall cause the Master Servicer to deposit all Income within [*] following receipt (including, without limitation, receipt by any Subservicer) thereof (including, without limitation, all such Income that is required to be deposited therein pursuant to the applicable provisions of the Account Agreement) into a deposit account (the title of which shall indicate that the funds therein are being held in trust for Buyer) (the “Collection Account”) with the Bank and which is subject to the Account Agreement; provided that, if Seller or any Affiliate of Seller receives any direct payment of Income or if any Income is forwarded to Seller or any Affiliate of Seller, Seller or its Affiliate shall deposit all such Income into the Collection Account within twenty-four hours of receipt. Neither Seller nor Master Servicer may give any instruction with respect to the Collection Account. On the Payment Date, the Master Servicer shall prepare a detailed payment report in form and substance acceptable to Buyer, which sets forth a reconciliation of all Income received through but not including such Payment Date (excluding Income detailed in any such report provided in connection with a prior Payment Date), and the amount of Periodic Advance Repurchase Payment due on the Purchased Mortgage Loans and, based on such report as approved by Buyer, Buyer shall withdraw any funds on deposit in the Collection Account and remit such funds to be applied as follows: (1) any amounts due to Wilmington Savings Fund Society, FSB, as Owner Trustee of the Buyer; (2) any amounts due to Buyer on account of due and unpaid Price Differential in accordance with Section 5(b); (3) any amounts due to Buyer on account of a Margin Deficit in accordance with Section 4; (4) all amounts offset and applied by Buyer pursuant to Section 5(d); (5) any other Expenses, fees, including Facility Fees, or amounts due Buyer under the Repurchase Agreement; (6) any amounts due and owing under Section 15;

COLLECTIONS; INCOME PAYMENTS. (a) Where a particular Transaction’s term extends over an Income payment date with respect to one or more Purchased Mortgage Loans LoansAssets subject to such Transaction, all such Income shall be the property of Buyer. Seller shall or shall cause the Master Servicer or, to the extent received by such party, the Underlying Servicer, as applicable, to deposit all Income within [*] following receipt (including, without limitation, receipt by any Subservicer) thereof (including, without limitation, all such Income that is required to be deposited therein pursuant to the applicable provisions of the Account Agreement) into a deposit account (the title of which shall indicate that the funds therein are being held in trust for Buyer) (the “Collection Account”) with the Bank and which is subject to the Account Agreement; provided that, if Seller or any Affiliate of Seller receives any direct payment of Income or if any Income is forwarded to Seller or any Affiliate of Seller, Seller or its Affiliate shall deposit all such Income into the Collection Account within twenty-four hours of receipt. For the avoidance of doubt, (i) any distributions to the holder of the Series 2023-GOT Trust Certificate shall be made to the Collection Account in accordance with the Series 2023-GOT Series Supplement for so long as the Series 2023-GOT Trust Certificate is subject to a Transaction and (ii) the Underlying Servicer shall remit collections in respect of the Participated Assets in accordance with the MPSA, and shall not be required to remit such funds to the Collection Account. Neither Seller nor Master Servicer nor the Underlying Servicer, as applicable, may give any instruction with respect to the Collection Account. On the Payment Date, the Master Servicer or the Underlying Servicer, as applicable, shall prepare a detailed payment report in form and substance acceptable to Buyer, which sets forth a reconciliation of all Income received through but not including such Payment Date (excluding Income detailed in any such report provided in connection with a prior Payment Date), and the amount of Periodic Advance Repurchase Payment due on the Purchased Mortgage Loans and, based on such report as approved by Buyer, Buyer shall withdraw any funds on deposit in the Collection Account and remit such funds to be applied as follows: (1) any amounts due to Wilmington Savings Fund Society, FSB, as Owner Trustee of the Buyer; (2) any amounts due to Buyer on account of due and unpaid Price Differential in accordance with Section 5(b); (3) any amounts due to Buyer on account of a Margin Deficit in accordance with Section 4; (4) all amounts offset and applied by Buyer pursuant to Section 5(d); (5) any other Expenses, fees, including Facility Fees, or amounts due Buyer under the Repurchase Agreement; (6) any amounts due and owing under Section 15;; (7) to Bond Facility Buyer, any amounts then due and payable to Bond Facility Buyer under the Bond Facility pursuant to priorities (1) through (6) of Section 5(a) of the Bond Repurchase Agreement until such amounts then due and payable thereunder have been paid in full; (8) to the Participation Parties, to pay any Trust Expenses that were not paid under Section 3.01(a)(ii) of the Series 2023-GOT Series Supplement because of the applicable Annual Expense Cap; and (9) (8) the remainder of funds to Seller.