Common use of FHA Premium Account Clause in Contracts

FHA Premium Account. The Indenture Trustee has heretofore established with itself in its trust capacity at its corporate trust department a segregated trust account referred to herein as the "FHA Premium Account" for the benefit of the Securityholders and the Securities Insurer. The Indenture Trustee shall at all times maintain the FHA Premium Account as an Eligible Account and shall cause such accounts to be designated as "First Trust of New York, National 77 82 Association, as Indenture Trustee for Mego Mortgage Home Loan Asset Backed Securities, Series 1997-2, FHA Premium Account". No later than the second Business Day preceding each Distribution Date, all amounts on deposit in the Collection Account representing payments by Obligors on Invoiced Loans in respect of premium on FHA Insurance shall be withdrawn by the Indenture Trustee and deposited to the FHA Premium Account. Any and all moneys transferred to the FHA Premium Account pursuant to this Section 5.01(a)(4) and Section 5.01(c)(i)(a) shall be held by the Indenture Trustee in the FHA Premium Account subject to disbursement and withdrawal as herein provided. Amounts deposited to the FHA Premium Account shall be invested in accordance with Section 5.04. Amounts on deposit in the FHA Premium Account shall be withdrawn by the Indenture Trustee, in the amounts required, for application as follows:

FHA Premium Account. The Indenture Trustee has heretofore established with itself in its trust capacity at its corporate trust department a segregated trust account referred to herein as the "FHA Premium Account" for the benefit of the Securityholders and the Securities Insurer. The Indenture Trustee shall at all times maintain the FHA Premium Account as an Eligible Account and shall cause such accounts to be designated as "First Trust of New York, National 77 82 Association, as Indenture Trustee for Mego Mortgage Home Loan Asset Backed Securities, Series 1997-2, FHA Premium Account1". No later than the second Business Day preceding 79 84 each Distribution Date, all amounts on deposit in the Note Distribution Account and Collection Account representing payments by Obligors on Invoiced Loans in respect of premium on FHA Insurance shall be withdrawn by the Indenture Trustee and deposited to the FHA Premium Account. Any and all moneys transferred to the FHA Premium Account pursuant to this Section 5.01(a)(4) and Section 5.01(c)(i)(a) shall be held by the Indenture Trustee in the FHA Premium Account subject to disbursement and withdrawal as herein provided. Amounts deposited to the an FHA Premium Account shall be invested in accordance with Section 5.04. Amounts on deposit in the an FHA Premium Account shall be withdrawn by the Indenture Trustee, in the amounts required, for application as follows: