Financial Guaranty Insurance Policy. (a) The Trustee shall cause to be established and maintained the Policy Account, into which amounts received by the Trustee pursuant to the Financial Guaranty Insurance Policy shall be deposited for the benefit of the Insured Certificates. Amounts on deposit in the Policy Account shall not be invested and shall not be held in an interest-bearing account. The Policy Account shall be opened by the Trustee upon receipt of the first payment on the Financial Guaranty Insurance Policy.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (HarborView 2006-10), Pooling and Servicing Agreement (HarborView 2007-1), Pooling and Servicing Agreement (HarborView 2006-12)
Financial Guaranty Insurance Policy. (a) The On or prior to the Closing Date, the Trustee shall cause to be established and maintained the Policy Account, into which amounts received by the Trustee pursuant to the Financial Guaranty Insurance Policy shall be deposited for the benefit of the Insured Certificates. Amounts on deposit in the Policy Account shall not be invested and shall not be held in an interest-bearing account. The Policy Account shall be opened by the Trustee upon receipt of the first payment on the Financial Guaranty Insurance Policy.
Appears in 1 contract
Samples: Pooling Agreement (Harborview Mortgage Loan Trust 2006-1)
