Custodial Accounts; Distribution Account. (a) On or prior to the Closing Date, the Servicer shall establish and maintain one or more Custodial Accounts, as provided in the Servicing Agreement, into which all Scheduled Payments and unscheduled payments with respect to the Mortgage Loans, net of any deductions or reimbursements permitted under the Servicing Agreement, shall be deposited. Prior to 1:00 p.m. New York City time on each Distribution Account Deposit Date, the Servicer shall remit to the Trustee for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the Servicing Agreement.
Appears in 9 contracts
Samples: Custodial Agreement (Merrill Lynch Mort Invest Inc MLCC 2003-B Mort Ps THR Cert), Custodial Agreement (Merrill Lynch Mortgage Investors Inc), Custodial Agreement (Merrill Lynch Mort Investors Inc Trust Series MLCC 2003-D)
Custodial Accounts; Distribution Account. (a) On or prior to the Closing Date, the Servicer shall establish and maintain one or more Custodial Accounts, as provided in the Servicing Agreementherein, into which all the Servicer shall deposit daily, within two Business Days of receipt thereof, in immediately available funds, any Scheduled Payments and unscheduled payments with respect to the Mortgage Loans, net of any deductions or reimbursements permitted under the Servicing this Agreement, shall be deposited. Prior to 1:00 p.m. New York City time on each Distribution Account Deposit Date, the Servicer shall remit to the Trustee for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the Servicing this Agreement.
Appears in 9 contracts
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series MLCC 2005-A), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series MLCC 2005-B), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series MLCC 2004-G)
Custodial Accounts; Distribution Account. (a) On or prior to the Closing Date, the Servicer shall establish and maintain one or more Custodial Accounts, as provided in the Servicing Agreementherein, into which all Scheduled Payments and unscheduled payments with respect to the Mortgage Loans, net of any deductions or reimbursements permitted under the Servicing this Agreement, shall be deposited. Prior to 1:00 p.m. New York City time on each Distribution Account Deposit Date, the Servicer shall remit to the Trustee for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the Servicing this Agreement.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series MLCC 2004-C), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series MLCC 2004-Hb1), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)
