Common use of Establishment of and Deposits to Custodial Account Clause in Contracts

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled as directed by the Master Servicer. The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement in the form of Exhibit B. A copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after the Closing Date, and, upon request, to any subsequent owner of the Mortgage Loans. The Servicer shall deposit in the Custodial Account within two Business Days of receipt, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 27 contracts

Samples: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-11), Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2007-2), Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2006-12)

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Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled as directed by the Master Servicer. The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement in the form of Exhibit B. A copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after the Closing Date, and, upon request, to any subsequent owner of the Mortgage Loans. The Servicer shall deposit in the Custodial Account within two Business Days of receipton a daily basis, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 11 contracts

Samples: Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-22), Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust), Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2005-2)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled as directed by the Master Servicer. The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement certification in the form of Exhibit B. A copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after the Closing Date, and, upon request, to any subsequent owner of the Mortgage Loans. The Servicer shall deposit in the Custodial Account within two Business Days of receipton a daily basis, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Date) or received by the Servicer prior to the Cut-off Date Date, but allocable to the period subsequent thereto thereto) or Servicing Transfer Date), as applicable:

Appears in 3 contracts

Samples: Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-16xs), Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates 2004-11xs), Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates 2004-9xs)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled as directed by the Master Servicer. The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement in the form of Exhibit B. A copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after the Closing Date, and, upon request, to any subsequent owner of the Mortgage Loans. The Servicer shall deposit in the Custodial Account within two Business Days of receipton a daily basis, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 2 contracts

Samples: Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2005-7), Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2005-4)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “Xxxxx Fargo Bank, N.A. in trust for U.S. Bank National Association, as directed by the Master Servicer. Trustee for Structured Asset Securities Corporation Mortgage Pass-Through Certificates, Series 2006-BC4.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement certification in the form of Exhibit B. B hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer not no later than 30 calendar days after the Closing Date, and, establishment of a Custodial Account (and to the NIMS Insurer upon request, to any subsequent owner of the Mortgage Loans) . The Servicer shall deposit in the Custodial Account within two (2) Business Days of receipt, receipt and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Subservicing Agreement (Sasco 2006-Bc4)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “Ocwen Federal Bank FSB in trust for U.S. Bank National Association, as directed by Trustee for the Master Servicer. Structured Asset Investment Loan Trust, 2005-3.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 3.09 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement in the form of Exhibit B. A B hereto. Not later than 30 days after the Closing Date, a copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after and the Closing Date, and, upon request, to any subsequent owner of the Mortgage LoansNIMS Insurer. The Servicer shall deposit in the Custodial Account within two on a daily basis on or prior to the second Business Days of receiptDay following receipt thereof, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Off Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-3)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “U.S. Bank National Association, as directed by Trustee for the Master Servicer. Structured Asset Securities Corporation Mortgage Pass-Through Certificates, Series 2006-BC2.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement certification notice in the form of Exhibit B. A copy of such certification or letter agreement notice shall be furnished to the Master Servicer not and the NIMS Insurer no later than 30 calendar days after the Closing Date, Date and, upon request, to any subsequent owner of the Mortgage Loans. The Servicer shall deposit in the Custodial Account within two Business Days of receipt, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto thereto) or Servicing Transfer Date), as applicable:: Aurora Servicing Agreement

Appears in 1 contract

Samples: Servicing Agreement (Sasco 2006-Bc2)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “Xxxxx Fargo Bank, N.A. in trust for U.S. Bank National Association, as directed by the Master Servicer. Trustee for Structured Asset Securities Corporation Mortgage Pass-Through Certificates, Series 2005-S1.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement certification in the form of Exhibit B. B hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after and upon request by the Closing Date, and, upon requestNIMs Insurer, to any subsequent owner of the Mortgage LoansNIMS Insurer. The Servicer shall deposit in the Custodial Account within two one (1) Business Days Day of the Servicer’s receipt, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Securitization Subservicing Agreement (Structured Asset Securities Corp 2005-S1)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled titled, as directed by the Master Servicer. , “Aurora Loan Services LLC in trust for the Trustee for Structured Asset Securities Corporation Mortgage Loan Trust 2007-BC3.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement certification notice in the form of Exhibit B. A copy of such certification or letter agreement notice shall be furnished to the Master Servicer not and the NIMS Insurer no later than 30 calendar days after the Closing Date, Date and, upon request, to any subsequent owner of the Mortgage Loans. The Servicer shall deposit in the Custodial Account within two Business Days of receipt, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto thereto) or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Servicing Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Bc3)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled as directed by the Master Servicer. The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement in the form of Exhibit B. A copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after the Closing Date, and, upon request, to any subsequent owner of the Mortgage Loans. The Servicer shall deposit in the Custodial Account within two Business Days of receipt, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Servicing Agreement (GreenPoint Mortgage Funding Trust 2007-Ar3)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled titled, as directed by the Master Servicer. , “Aurora Loan Services LLC in trust for U.S. Bank National Association, as Trustee for the BNC Mortgage Loan Trust 2006-1.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement certification notice in the form of Exhibit B. A copy of such certification or letter agreement notice shall be furnished to the Master Servicer not and the NIMS Insurer no later than 30 calendar days after the Closing Date, Date and, upon request, to any subsequent owner of the Mortgage Loans. The Servicer shall deposit in the Custodial Account within two Business Days of receipt, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto thereto) or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Servicing Agreement (BNC Mortgage Loan Trust 2006-1)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “Ocwen Federal Bank FSB in trust for U.S. Bank National Association, as directed by Trustee for the Master Servicer. Structured Asset Securities Corporation, 2004-GEL1.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement in the form of Exhibit B. B hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after and the Closing Date, and, upon request, to any subsequent owner of the Mortgage LoansNIMS Insurer. The Servicer shall deposit in the Custodial Account within two Business Days of receipton a daily basis, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Off Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pass-THR Certs Ser 2004-Gel1)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “Xxxxx Fargo Bank, N.A. in trust for U.S. Bank National Association, as directed by the Master Servicer. Trustee for Structured Asset Securities Corporation Mortgage Pass-Through Certificates, Series 2005-S3.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement certification in the form of Exhibit B. B hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after and upon request by the Closing Date, and, upon requestNIMs Insurer, to any subsequent owner of the Mortgage LoansNIMS Insurer. The Servicer shall deposit in the Custodial Account within two one (1) Business Days Day of the Servicer’s receipt, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Subservicing Agreement (Structured Asset Securities Corp. 2005 S-3)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “Ocwen Federal Bank FSB, in trust for LaSalle Bank National Association, as directed by Trustee for the Master Servicer. Structured Asset Investment Loan Trust, 2003-BC6.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institutiona Qualified Depository. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement in the form of Exhibit B. B hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after and the Closing Date, and, upon request, to any subsequent owner of the Mortgage LoansNIMS Insurer. The Servicer shall deposit in the Custodial Account within two Business Days of receipton a daily basis, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Off Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Securitization Servicing Agreement (Structured Asset Inv Loan Mort Pass THR Certs Ser 2003-Bc6)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “Xxxxx Fargo Bank, N.A. in trust for U.S. Bank National Association, as directed by the Master Servicer. Trustee for Structured Asset Securities Corporation, Series 2005-GEL3 trust fund.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement certification in the form of Exhibit B. A B hereto. No later than 30 days after the closing date, a copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after the Closing Date, master servicer and, upon request, to any subsequent owner of the Mortgage Loans. The Servicer shall deposit in the Custodial Account within two one (1) Business Days Day of the Servicer’s receipt, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Subservicing Agreement (SASCO Mortgage Loan Trust Series 2005-Gel3)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the a Mortgage Loans Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled as directed by the Master Servicer. “American Home Mortgage Servicing, Inc., in trust for Bank of America, National Association and/or subsequent purchasers of Mortgage Loans, and various Mortgagors - P & I.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institutiona Qualified Depository. Upon request of the Purchaser and within ten (10) days thereof, the Servicer shall provide the Purchaser with written confirmation of the existence of such Custodial Account. Any funds deposited in the Custodial Account may shall at all times be invested in Eligible Investments subject insured to the provisions of Section 3.11 hereoffullest extent allowed by applicable law. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement in the form of Exhibit B. A copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after the Closing Date, and, upon request, to any subsequent owner of the Mortgage Loans4.05. The Servicer shall deposit in the Custodial Account within two (2) Business Days of Servicer’s receipt, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the related Cut-off Date (Date, other than scheduled payments of principal and interest due on or before the related Cut-off Date Date, or received by the Servicer prior to the related Cut-off Date but allocable to the a period subsequent thereto or Servicing Transfer Date), as applicablethereto:

Appears in 1 contract

Samples: Master Bulk Sale and Servicing Agreement (Banc of America Funding Corp)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “Xxxxx Fargo Bank, N.A. in trust for LaSalle Bank National Association, as directed by the Master Servicer. Trustee for Structured Asset Investment Loan Trust, 2005-2.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement certification in the form of Exhibit B. B hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer not no later than 30 calendar days after the Closing Date, and, Date (and to the NIMS Insurer upon request, to any subsequent owner of the Mortgage Loans) . The Servicer shall deposit in the Custodial Account within two one (1) Business Days Day of the Servicer’s receipt, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Securitization Subservicing Agreement (Structured Asset Investment Loan Trust 2005-2)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled as directed by the Master Servicer. The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement in the form of Exhibit B. A copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after and the Closing Date, NIMS Insurer and, upon request, to any subsequent owner of the Mortgage Loans. The Servicer shall deposit in the Custodial Account within two Business Days of receipton a daily basis, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Servicing Agreement (Structured Asset Securities Corp)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “Ocwen Federal Bank FSB in trust for LaSalle Bank National Association, as directed by Trustee for the Master Servicer. Structured Asset Investment Loan Trust, 2005-2.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 3.09 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement in the form of Exhibit B. A B hereto. Not later than 30 days after the Closing Date, a copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after and the Closing Date, and, upon request, to any subsequent owner of the Mortgage LoansNIMS Insurer. The Servicer shall deposit in the Custodial Account within two on a daily basis on or prior to the second Business Days of receiptDay following receipt thereof, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Off Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-2)

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Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “Xxxxx Fargo Bank, N.A. in trust for U.S. Bank National Association, as directed by the Master Servicer. Trustee for Structured Asset Securities Corporation, Series 2005-GEL2 trust fund.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement certification in the form of Exhibit B. A B hereto. No later than 30 days after the Closing Date, a copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after the Closing Date, and, upon request, to any subsequent owner of the Mortgage Loans. The Servicer shall deposit in the Custodial Account within two one (1) Business Days Day of the Servicer’s receipt, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Subservicing Agreement (SASCO Mortgage Loan Trust Series 2005-Gel2)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled titled, as directed by the Master Servicer. , “Aurora Loan Services LLC in trust for U.S. Bank National Association, as Trustee for the Structured Asset Securities Corporation 2006-S1 trust fund.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement certification notice in the form of Exhibit B. A No later than 30 days after the Closing Date, a copy of such certification or letter agreement notice shall be furnished to the Master Servicer not later than 30 calendar days after the Closing Date, and, upon request, to any subsequent owner of the Mortgage Loans. The Servicer shall deposit in the Custodial Account within two Business Days of receipt, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto thereto) or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Servicing Agreement (Structured Asset Securities Corp 2006-S1)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled titled, as directed by the Master Servicer. , “Aurora Loan Services LLC in trust for U.S. Bank National Association, as Trustee for the Structured Asset Investment Loan Trust, 2005-6.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement certification notice in the form of Exhibit B. A copy of such certification or letter agreement notice shall be furnished to the Master Servicer not and the NIMS Insurer no later than 30 calendar days after the Closing Date, Date and, upon request, to any subsequent owner of the Mortgage Loans. The Servicer shall deposit in the Custodial Account within two Business Days of receipton a daily basis, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto thereto) or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Servicing Agreement (Structured Asset Investment Loan Trust 2005-6)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “Xxxxx Fargo Bank, N.A. in trust for U.S. Bank National Association, as directed by the Master Servicer. Trustee for Structured Asset Securities Corporation Mortgage Pass-Through Certificates, Series 2005-S2.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement certification in the form of Exhibit B. B hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after and upon request by the Closing Date, and, upon requestNIMs Insurer, to any subsequent owner of the Mortgage LoansNIMS Insurer. The Servicer shall deposit in the Custodial Account within two one (1) Business Days Day of the Servicer’s receipt, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Subservicing Agreement (Structured Asset Securities Corp 2005-S2)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “Xxxxx Fargo Bank, N.A. in trust for U.S. Bank National Association, as directed by the Master Servicer. Trustee for Structured Asset Investment Loan Trust, 2005-3.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement certification in the form of Exhibit B. B hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer not no later than 30 calendar days after the Closing Date, and, Date (and to the NIMS Insurer upon request, to any subsequent owner of the Mortgage Loans) . The Servicer shall deposit in the Custodial Account within two one (1) Business Days Day of the Servicer’s receipt, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Subservicing Agreement (Structured Asset Investment Loan Trust 2005-3)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “Ocwen Federal Bank FSB in trust for LaSalle Bank National Association, as directed by Trustee for the Master Servicer. Structured Asset Investment Loan Trust, 2003-BC11.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institutiona Qualified Depository. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement in the form of Exhibit B. B hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after and the Closing Date, and, upon request, to any subsequent owner of the Mortgage LoansNIMS Insurer. The Servicer shall deposit in the Custodial Account within two Business Days of receipton a daily basis, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Off Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc11)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “Xxxxx Fargo Bank, N.A. in trust for U.S. Bank National Association, as directed by the Master Servicer. Trustee for Structured Asset Securities Corporation, Series 2005-GEL4 trust fund.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement certification in the form of Exhibit B. A B hereto. No later than 30 days after the Closing Date, a copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after the Closing Date, and, upon request, to any subsequent owner of the Mortgage Loans. The Servicer shall deposit in the Custodial Account within two one (1) Business Days Day of the Servicer’s receipt, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Securitization Subservicing Agreement (Structured Asset Securities Corporation, 2005-Gel4)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled titled, as directed by the Master Servicer. , “Aurora Loan Services LLC in trust for U.S. Bank National Association, as Trustee for the Structured Asset Investment Loan Trust, 2006-1.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement certification notice in the form of Exhibit B. A copy of such certification or letter agreement notice shall be furnished to the Master Servicer not and the NIMS Insurer no later than 30 calendar days after the Closing Date, Date and, upon request, to any subsequent owner of the Mortgage Loans. The Servicer shall deposit in the Custodial Account within two Business Days of receipt, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto thereto) or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Servicing Agreement (Structured Asset Investment Loan Trust 2006-1)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “HomEq Servicing Corporation, in trust for U.S. Bank National Association, as directed by Trustee for the Master ServicerStructured Asset Investment Loan Trust, Series 2005-7”. The Custodial Account shall be an Eligible Deposit Account Accounts established with an Eligible Institution. Any funds deposited in the Custodial Account may shall at all times be either fully insured by the FDIC or invested in Eligible Investments subject to the provisions of Section 3.11 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement in the form of Exhibit B. A B hereto. No later than 30 days after the Closing Date a copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after and the Closing Date, and, upon request, to any subsequent owner of the Mortgage LoansNIMS Insurer. The Servicer shall deposit in the Custodial Account on a daily basis, within two (2) Business Days of receiptreceipt thereof, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2005-7)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “U.S. Bank National Association, as directed by Trustee for the Master Servicer. Structured Asset Investment Loan Trust, 2006-3.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement certification notice in the form of Exhibit B. A copy of such certification or letter agreement notice shall be furnished to the Master Servicer not and the NIMS Insurer no later than 30 calendar days after the Closing Date, Date and, upon request, to any subsequent owner of the Mortgage Loans. The Servicer shall deposit in the Custodial Account within two Business Days of receipt, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto thereto) or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Servicing Agreement (Sail 2006-3)

Establishment of and Deposits to Custodial Account. The Servicer shall segregate and hold all funds collected and received pursuant to the Mortgage Loans separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts, in the form of time deposit or demand accounts, titled “Ocwen Federal Bank FSB in trust for LaSalle Bank National Association, as directed by Trustee for the Master Servicer. Structured Asset Investment Loan Trust, 2003-BC10.” The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institutiona Qualified Depository. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.11 hereof. Funds deposited in the Custodial Account may be drawn on by the Servicer in accordance with Section 3.04. The creation of any Custodial Account shall be evidenced by a letter agreement in the form of Exhibit B. B hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer not later than 30 calendar days after and the Closing Date, and, upon request, to any subsequent owner of the Mortgage LoansNIMS Insurer. The Servicer shall deposit in the Custodial Account within two Business Days of receipton a daily basis, and retain therein, the following collections received by the Servicer and payments made by the Servicer after the Cut-off Off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date Off Date) or received by the Servicer prior to the Cut-off Date but allocable to the period subsequent thereto or Servicing Transfer Date), as applicable:

Appears in 1 contract

Samples: Securitization Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Certs Ser 2003 Bc10)

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