Common use of Servicing Account Clause in Contracts

Servicing Account. Within one Business Day after the Servicer's receipt of any amounts collected on any Asset in its lock box maintained for the collection of amounts payable under contracts serviced by it (including Net Liquidation Proceeds, Insurance Proceeds and Repurchase Prices in respect thereof), the Servicer shall deposit such collections, or cause such collections to be deposited, into a clearing account established by the Servicer (the "Servicing Account"), which shall be an Eligible Account. The Servicer may use the Servicing Account for collection of payments on Assets underlying more than one Series and for assets that are not the subject of any transaction covered by a Pooling and Servicing Agreement; provided, that in any such event, the Servicer shall cause separate accounting and records to be maintained within the Servicing Account with respect to the Assets underlying each separate Series. Furthermore, the parties hereto agree that all amounts deposited into the Servicing Account in respect of the Assets, other than amounts payable to the Servicer as servicing compensation under the Pooling and Servicing Agreement, are to be held in trust for the exclusive use and benefit of the related Trust.

Servicing Account. Within one Business Day after the Servicer's receipt of any amounts collected on any Asset in its lock box maintained for the collection of amounts payable under contracts serviced by it (including Net Liquidation Proceeds, Insurance Proceeds and Repurchase Prices in respect thereof), the Servicer shall deposit such collections, or cause such collections to be deposited, into a clearing account established by the Servicer (the "Servicing Account"), which shall be an Eligible Account. The Servicer may use the Servicing Account for collection of payments on Assets underlying more than one Series and for assets that are not the subject of any transaction covered by a Pooling and Servicing Agreement; providedPROVIDED, that in any such event, the Servicer shall cause separate accounting and records to be maintained within the Servicing Account with respect to the Assets underlying each separate Series. Furthermore, the parties hereto agree that all amounts deposited into the Servicing Account in respect of the Assets, other than amounts payable to the Servicer as servicing compensation under the Pooling and Servicing Agreement, are to be held in trust for the exclusive use and benefit of the related Trust.

Servicing Account. Within one Business Day after the Master Servicer's ’s receipt of any amounts collected on any Asset in its lock box maintained for the collection of amounts payable under contracts serviced by it (including Net Liquidation Proceeds, Insurance Proceeds and Repurchase Prices in respect thereof), the Master Servicer shall deposit such collections, or cause such collections to be deposited, into a clearing account established by the Master Servicer (the "“Servicing Account"”), which shall be an Eligible Account. The Master Servicer may use the Servicing Account for collection of payments on Assets underlying more than one Series and for assets that are not the subject of any transaction covered by a Pooling and Servicing Agreement; provided, that in any such event, the Master Servicer shall cause separate accounting and records to be maintained within the Servicing Account with respect to the Assets underlying each separate Series. Furthermore, the parties hereto agree that all amounts deposited into the Servicing Account in respect of the Assets, other than amounts payable to the Master Servicer as servicing compensation under the Pooling and Servicing Agreement, are to be held in trust for the exclusive use and benefit of the related Trust.