Common use of Sub-Servicing Accounts Clause in Contracts

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will be required to establish and maintain one or more accounts (collectively, the “Sub-Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall deposit in the clearing account in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt of such amounts. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the such Sub-Servicer will shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Citibank, N.A., as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountWaMu Asset-Backed Certificates WaMu Series 2007-HE2 Trust. The Sub-Servicing Agreement will provide that the Such Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the such Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the such Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Such Sub-Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the such Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more segregated accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled "Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2005-WL2, Asset-Backed Certificates, Series 2005-WL2. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s 's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled "Deutsche Bank National Trust Company, as Trust Administrator for the benefit of this Agreement relating to the Collection AccountWachovia Bank, National Association, as Trustee, in trust for registered Holders of Long Beach Mortgage Loan Trust 2002-2, Asset-Backed Certificates, Series 2002-2. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s 's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled "Deutsche Bank National Trust Company, as Trust Administrator for the benefit of this Agreement relating to the Collection AccountWachovia Bank, National Association, as Trustee, in trust for registered Holders of Long Beach Mortgage Loan Trust 2002-3, Asset-Backed Certificates, Series 2002-3. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s 's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2004‑6, Asset‑Backed Certificates, Series 2004‑6. The Sub-Servicing Agreement will provide that the Sub-Servicer Sub‑Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-ServicerSub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Sub‑Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will such Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Each Sub‑Servicing Account shall be an account with an Eligible Account Institution and shall comply with all requirements be entitled “[Name of this Agreement relating to the Collection Account. The Sub-Servicing Agreement will provide that the Servicer], as Sub-Servicer Servicer, in trust for holders of Washington Mutual Asset-Backed Certificates WMABS Series 2006‑HE4.” Each Sub‑Servicer shall be required to deposit in the clearing account (which account must be with an Eligible Institution) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicersuch Sub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer such Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing related Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Such Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer such Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled "Bankers Trust Company of this Agreement relating to the Collection AccountCalifornia, N.A., as Trustee, in trust for registered Holders of Long Beach Mortgage Loan Trust 2001-2, Asset-Backed Certificates, Series 2001-2. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s 's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2005-WL3, Asset-Backed Certificates, Series 2005-WL3. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days 104 after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will such Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Each Sub‑Servicing Account shall be an account with an Eligible Account Institution and shall comply with all requirements be entitled “[Name of this Agreement relating to the Collection Account. The Sub-Servicing Agreement will provide that the Servicer], as Sub-Servicer Servicer, in trust for holders of Washington Mutual Asset-Backed Certificates WMABS Series 2006‑HE5.” Each Sub‑Servicer shall be required to deposit in the clearing account (which account must be with an Eligible Institution) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicersuch Sub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer such Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing related Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Such Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer such Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled "Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2004-2, Asset-Backed Certificates, Series 2004-2. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s 's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled "Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2002-4, Asset-Backed Certificates, Series 2002-4. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s 's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing "Sub‑Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled "Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2005‑2, Asset‑Backed Certificates, Series 2005‑2. The Sub-Servicing Agreement will provide that the Sub-Servicer Sub‑Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s Sub‑Servicer's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Sub‑Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will such Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating Long Beach Mortgage Loan Trust 2006‑9, Asset‑Backed Certificates, Series 2006‑9. Such Sub‑Servicer shall be required to the Collection Account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicersuch Sub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer such Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing related Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Such Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer such Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2005‑WL1, Asset‑Backed Certificates, Series 2005‑WL1. The Sub-Servicing Agreement will provide that the Sub-Servicer Sub‑Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-ServicerSub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Sub‑Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will such Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating Long Beach Mortgage Loan Trust 2006‑10, Asset‑Backed Certificates, Series 2006‑10. Such Sub‑Servicer shall be required to the Collection Account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicersuch Sub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer such Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing related Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Such Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer such Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2006-4, Asset-Backed Certificates, Series 2006-4. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. The Sub-Servicing Agreement Servicer will provide that be required to deposit into the Sub-Servicer shall deposit in Servicing Account no later than the clearing account in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one first Business Day after the Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer Servicer, less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, Agreement and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt of such amounts. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or to remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two the first Business Days after the deposit of such amounts Day thereafter; provided, however, that in the event that Ameriquest sub-services the Mortgage Loans master serviced by Long Beach pursuant to a sub-servicing agreement, no Sub-Servicing AccountAccount shall be required to be maintained by Ameriquest pursuant to such sub-servicing agreement and Ameriquest may establish and maintain the Collection Account pursuant to this Agreement in respect of the Long Beach Mortgage Loans sub- serviced by it and the foregoing provisions of this sentence shall not apply. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2006-2, Asset-Backed Certificates, Series 2006-2. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled "Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2003-1, Asset-Backed Certificates, Series 2003-1. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s 's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will such Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Each Sub‑Servicing Account shall be an account with an Eligible Account Institution and shall comply with all requirements be entitled “[Name of this Agreement relating to the Collection Account. The Sub-Servicing Agreement will provide that the Servicer], as Sub-Servicer Servicer, in trust for holders of Washington Mutual Asset-Backed Certificates WMABS Series 2007-HE1.” Each Sub‑Servicer shall be required to deposit in the clearing account (which account must be with an Eligible Institution) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicersuch Sub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer such Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing related Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Such Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer such Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. The Sub-Servicing Agreement Servicer will provide that be required to deposit into the Sub-Servicer shall deposit in Servicing Account no later than the clearing account in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one first Business Day after the Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer Servicer, less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, SubServicing Agreement and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt of such amounts. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or to remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two the first Business Days after the deposit of such amounts Day thereafter; provided, however, that in the event that Ameriquest sub-services the Mortgage Loans master serviced by Long Beach pursuant to a sub-servicing agreement, no Sub-Servicing AccountAccount shall be required to be maintained by Ameriquest pursuant to such sub-servicing agreement and Ameriquest may establish and maintain the Collection Account pursuant to this Agreement in respect of the Long Beach Mortgage Loans sub-serviced by it and the foregoing provisions of this sentence shall not apply. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled "Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2004-3, Asset-Backed Certificates, Series 2004-3. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s 's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will such Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Citibank, N.A., as Trustee, in trust for registered Holders of this Agreement relating WaMu Asset-Backed Certificates WaMu Series 2007-HE3 Trust. Such Sub‑Servicer shall be required to the Collection Account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicersuch Sub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer such Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing related Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Such Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer such Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled "Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2004-4, Asset-Backed Certificates, Series 2004-4. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s 's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2006-WL2, Asset-Backed Certificates, Series 2006-WL2. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled "Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2003-2, Asset-Backed Certificates, Series 2003-2. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s 's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will such Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Each Sub‑Servicing Account shall be an account with an Eligible Account Institution and shall comply with all requirements be entitled “[Name of this Agreement relating to the Collection Account. The Sub-Servicing Agreement will provide that the Servicer], as Sub-Servicer Servicer, in trust for holders of Washington Mutual Asset-Backed Certificates WMABS Series 2006‑HE3.” Each Sub‑Servicer shall be required to deposit in the clearing account (which account must be with an Eligible Institution) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicersuch Sub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer such Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing related Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Such Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer such Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will such Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating WaMu Asset-Backed Certificates WaMu Series 2007-HE1 Trust. Such Sub‑Servicer shall be required to the Collection Account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicersuch Sub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer such Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing related Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Such Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer such Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2006‑5, Asset‑Backed Certificates, Series 2006‑5. The Sub-Servicing Agreement will provide that the Sub-Servicer Sub‑Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-ServicerSub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2005-WL1, Asset-Backed Certificates, Series 2005-WL1. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For SE 2000000 v1 2 purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2005‑3, Asset‑Backed Certificates, Series 2005‑3. The Sub-Servicing Agreement will provide that the Sub-Servicer Sub‑Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-ServicerSub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Sub‑Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. The Account (provided, however, that in the case of the Initial Sub-Servicing Agreement, the applicable Sub-Servicing Account shall comply with all requirements of the Initial Sub-Servicing Agreement will provide that relating to the Custodial Account as defined therein). The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one two Business Day Days after the Sub-Servicer’s 's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two one Business Days Day after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing AccountAccount (or, in the case of the Initial Sub-Servicing Agreement, at such time as is required pursuant to the terms of the Initial Sub-Servicing Agreement). For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an account with an Eligible Account Institution and shall comply with all requirements be entitled “[Name of this Agreement relating to the Collection Account. The Sub-Servicing Agreement will provide that the SubServicer], as Trustee, in trust for holders of Washington Mutual Asset-Servicer Backed Certificates WMABS Series 2006‑HE1.” The Sub‑Servicer shall be required to deposit in the clearing account (which account must be with an Eligible Institution) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-ServicerSub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled "Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection Account. Long Beach Mortgage Loan Trust 2004-A, Asset-Backed Certificates, Series 2004-A. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s 's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2006-WL3, Asset-Backed Certificates, Series 2006-WL3. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will such Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Citibank, N.A., as Trustee, in trust for registered Holders of this Agreement relating WaMu Asset-Backed Certificates WaMu Series 2007-HE4 Trust. Such Sub‑Servicer shall be required to the Collection Account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicersuch Sub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer such Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing related Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Such Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer such Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will such Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating Long Beach Mortgage Loan Trust 2006‑8, Asset‑Backed Certificates, Series 2006‑8. Such Sub‑Servicer shall be required to the Collection Account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicersuch Sub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer such Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing related Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Such Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer such Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will such Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating Long Beach Mortgage Loan Trust 2006‑6, Asset‑Backed Certificates, Series 2006‑6. Such Sub‑Servicer shall be required to the Collection Account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicersuch Sub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer such Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing related Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Such Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer such Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2005‑1, Asset‑Backed Certificates, Series 2005‑1. The Sub-Servicing Agreement will provide that the Sub-Servicer Sub‑Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-ServicerSub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Sub‑Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will be required to establish and maintain one or more accounts (collectively, the “Sub-Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall deposit in the clearing account in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basisSub-Servicing Account, and in no event more than one two Business Day Days after the Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt of such amounts. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments. Notwithstanding the foregoing, Cenlar FSB in its capacity as Sub-Servicer shall deposit funds directly into the Collection Account and will not be required to establish a separate Sub-Servicing Account as otherwise required by this Section 3.08. As of the Closing Date, no such Sub-Servicing Account has been established.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. The Account (provided, however, that in the case of the Initial Sub-Servicing Agreements, the applicable Sub-Servicing Account shall comply with all requirements of such Initial Sub-Servicing Agreement will provide that relating to the custodial account provided for therein). The Sub-Servicer shall deposit in the clearing account in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basisSub-Servicing Account, and in no event more than one two Business Day Days after the Sub-Servicer’s 's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt of such amounts. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing AccountAccount (or, in the case of the Initial Sub-Servicing Agreements, at such time as is required pursuant to the terms of such Initial Sub-Servicing Agreement). For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. The Sub-Servicing Agreement Servicer will provide that be required to deposit into the Sub-Servicer shall deposit in Servicing Account no later than the clearing account in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one first Business Day after the Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer Servicer, less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, Agreement and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt of such amounts. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or to remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two the first Business Days after the deposit of such amounts Day thereafter; provided, however, that in the event that Ameriquest Mortgage Company sub-services the Mortgage Loans pursuant to a sub-servicing agreement, no Sub-Servicing AccountAccount shall be required to be maintained by Ameriquest Mortgage Company pursuant to such sub-servicing agreement and Ameriquest Mortgage Company may establish and maintain the Collection Account pursuant to this Agreement in respect of the Mortgage Loans sub-serviced by it and the foregoing provisions of this sentence shall not apply. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing "Sub‑Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled "Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2006‑3, Asset‑Backed Certificates, Series 2006‑3. The Sub-Servicing Agreement will provide that the Sub-Servicer Sub‑Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s Sub‑Servicer's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will such Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating Long Beach Mortgage Loan Trust 2006‑11, Asset‑Backed Certificates, Series 2006‑11. Such Sub‑Servicer shall be required to the Collection Account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicersuch Sub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer such Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing related Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Such Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer such Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will be required to establish and maintain one or more accounts (collectively, the “Sub-Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. The Account (provided, however, that in the case of the Initial Sub-Servicing Agreement, the Sub-Servicing Account shall comply with all requirements of the Initial Sub-Servicing Agreement will provide that relating to the custodial account provided for therein). The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one two Business Day Days after the Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two one Business Days Day after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing AccountAccount (or, in the case of the Initial Sub-Servicing Agreement, at such time as is required pursuant to the terms of the Initial Sub-Servicing Agreement). For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “[NAME OF TRUSTEE], as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 200__-__, Asset-Backed Certificates, Series 200__-__. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled "Bankers Trust Company of this Agreement relating to the Collection AccountCalifornia, N.A., as Trustee, in trust for registered Holders of Long Beach Mortgage Loan Trust 2001-3, Asset-Backed Certificates, Series 2001-3. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s 's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled "Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2003-4, Asset-Backed Certificates, Series 2003-4. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s 's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled "Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2003-3, Asset-Backed Certificates, Series 2003-3. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s 's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. The Sub-Servicing Agreement Servicer will provide that be required to deposit into the Sub-Servicer shall deposit in Servicing Account no later than the clearing account in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one first Business Day after the Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer Servicer, less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, Agreement and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt of such amounts. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or to remit such proceeds to the Servicer for deposit in the Collection Account not later than two the second Business Day following receipt thereof by the Sub-Servicer. Notwithstanding anything in this Section 3.08 to the contrary, the Sub-Servicer shall only be able to withdraw funds from the Sub-Servicing Account for the purpose of remitting such funds to the Servicer for deposit into the Collection Account. The Servicer shall require the Sub-Servicer to cause any collection agent of the Sub-Servicer to send a copy to the Servicer of each statement of Monthly Payments collected by or on behalf of the Sub-Servicer within five Business Days after the deposit end of every month, and the Servicer shall compare the information provided in such amounts in reports with the Sub-Servicing Accountdeposits made by the Sub- Servicer into the Collection Account for the same period. For purposes of this AgreementAgreement other than Section 3.10, the Servicer shall be deemed to have received payments on the Mortgage Loans when on the date on which the Sub-Servicer receives has received such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will such Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating Long Beach Mortgage Loan Trust 2006‑7, Asset‑Backed Certificates, Series 2006‑7. Such Sub‑Servicer shall be required to the Collection Account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicersuch Sub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer such Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing related Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Such Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer such Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. The Account (provided, however, that in the case of each Initial Sub-Servicing Agreement, the applicable Sub-Servicing Account shall comply with all requirements of the Initial Sub-Servicing Agreement will provide that relating to the custodial account provided for therein). The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one two Business Day Days after the Sub-Servicer’s 's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two one Business Days Day after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing AccountAccount (or, in the case of the Initial Sub-Servicing Agreement, at such time as is required pursuant to the terms of the Initial Sub-Servicing Agreement). For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the such Sub-Servicer will be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Each Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. The Each Sub-Servicer will be required to deposit into its Sub-Servicing Agreement will provide that Account no later than the Sub-Servicer shall deposit in the clearing account in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one first Business Day after the Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the such Sub-Servicer Servicer, less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt of such amounts. The related Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or and to remit such proceeds to the Servicer for deposit in the Collection Account not later than two the second Business Day following receipt thereof by the Sub-Servicer. Notwithstanding anything in this Section 3.08 to the contrary, a Sub-Servicer shall only be able to withdraw funds from the Sub-Servicing Account for the purpose of remitting such funds to the Servicer for deposit into the Collection Account. The Servicer shall require each Sub-Servicer to cause any collection agent of such Sub-Servicer to send a copy to the Servicer of each statement of Monthly Payments collected by or on behalf of the Sub-Servicer within five Business Days after the deposit end of every month, and the Servicer shall compare the information provided in such amounts in reports with the deposits made by the Sub-Servicing AccountServicer into the Collection Account for the same period. For purposes of this AgreementAgreement other than Section 3.10, the Servicer shall be deemed to have received payments on the Mortgage Loans when on the date on which a Sub-Servicer receives has received such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will such Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Each Sub‑Servicing Account shall be an account with an Eligible Account Institution and shall comply with all requirements be entitled “[Name of this Agreement relating to the Collection Account. The Sub-Servicing Agreement will provide that the Servicer], as Sub-Servicer Servicer, in trust for holders of Washington Mutual Asset-Backed Certificates WMABS Series 2007-HE2.” Each Sub‑Servicer shall be required to deposit in the clearing account (which account must be with an Eligible Institution) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicersuch Sub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer such Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing related Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Such Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer such Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating Long Beach Mortgage Loan Trust 2006‑A, Asset‑Backed Certificates, Series 2006‑A. The Sub‑Servicer shall be required to the Collection Account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-ServicerSub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2006-1, Asset-Backed Certificates, Series 2006-1. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will be required to establish and maintain one or more accounts (collectively, the “Sub-Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. The Account (provided, however, that in the case of the Initial Sub-Servicing Agreement, the applicable Sub-Servicing Account shall comply with all requirements of the Initial Sub-Servicing Agreement will provide that relating to the Custodial Account as defined therein). The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one two Business Day Days after the Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two one Business Days Day after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing AccountAccount (or, in the case of the Initial Sub-Servicing Agreement, at such time as is required pursuant to the terms of the Initial Sub-Servicing Agreement). For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled “Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2006-WL1, Asset-Backed Certificates, Series 2006-WL1. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer Sub‑Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Sub‑Servicing Agreement, the Sub-Servicer will Sub‑Servicer shall be required to establish and maintain one or more segregated accounts (collectively, the “Sub-Servicing Sub‑Servicing Account”). The Sub-Servicing Agreement will provide that any Sub-Servicing Sub‑Servicing Account shall be an account with an Eligible Account Institution and shall comply with all requirements be entitled “[Name of this Agreement relating to the Collection Account. The Sub-Servicing Agreement will provide that the Servicer], as Sub-Servicer Servicer, in trust for holders of Washington Mutual Asset-Backed Certificates WMABS Series 2006‑HE2.” The Sub‑Servicer shall be required to deposit in the clearing account (which account must be with an Eligible Institution) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-ServicerSub‑Servicer’s receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer Sub‑Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Sub‑Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Sub‑Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer Sub‑Servicer shall thereafter be required to deposit all such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the Determination Date following the deposit of such amounts in the Sub-Servicing Sub‑Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer Sub‑Servicer receives such payments.

Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the Sub-Servicer will shall be required to establish and maintain one or more accounts (collectively, the “"Sub-Servicing Account”"). The Sub-Servicing Agreement will provide that any Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements be entitled "Deutsche Bank National Trust Company, as Trustee, in trust for registered Holders of this Agreement relating to the Collection AccountLong Beach Mortgage Loan Trust 2002-5, Asset-Backed Certificates, Series 2002-5. The Sub-Servicing Agreement will provide that the Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after the Sub-Servicer’s 's receipt thereof, all proceeds of Mortgage Loans received by the Sub-Servicer less its servicing compensation to the extent permitted by the Sub-Servicing Agreement, and shall thereafter deposit such amounts in the Sub-Servicing Account, in no event more than two Business Days after the receipt deposit of such amountsfunds into the clearing account. The Sub-Servicing Agreement will provide that the Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the Mortgage Loans when the Sub-Servicer receives such payments.