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

Establishment of and Deposits to Custodial Account. The Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] in trust for [TRUSTEE], as Trustee for the [Structured Asset Securities Corporation]”. Each Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution in a manner that shall provide maximum available insurance thereunder. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer upon request. The Special Servicer shall deposit in the Custodial Account, within two (2) business days of receipt and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the Servicing Transfer Date, as applicable:

Appears in 20 contracts

Samples: Servicing Agreement (Lehman Mortgage Trust 2007-4), Servicing Agreement (Lehman Mortgage Trust 2006-9), Servicing Agreement (Lehman Mortgage Trust 2007-3)

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Establishment of and Deposits to Custodial Account. The Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] in trust for [TRUSTEE], as Trustee for the [Structured Asset Securities Corporation]”. Each Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution in a manner that shall provide maximum available insurance thereunder. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer upon request. The Special Servicer shall deposit in the Custodial AccountAccount on a daily basis, within two (2) business days of receipt and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the Servicing Transfer Date, as applicable:

Appears in 8 contracts

Samples: Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-10), Servicing Agreement (Lehman Mortgage Trust 2005-1), Servicing Agreement (Structured Asset Securities Corp. 2005-14)

Establishment of and Deposits to Custodial Account. The Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] "Aurora Loan Services Inc., in trust for [TRUSTEE]Xxxxxx Capital, as Trustee for the [Structured Asset Securities Corporation]”A Division of Xxxxxx Brothers Holdings Inc., owner of Residential Mortgage Loans, Group No. Each 1997-ALSI, and various Mortgagors". The Custodial Account shall be an Eligible Deposit Account established with an Eligible Institution in a manner that shall provide maximum available insurance thereunderQualified Depository. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. C. A copy of such certification or letter agreement shall be furnished to the Master Servicer Owner and, upon request, to any subsequent owner of the Mortgage Loans. The Special Servicer shall deposit in the Custodial AccountAccount on a daily basis, within two (2) business days of receipt and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the Servicing related Transfer Date, as applicable:

Appears in 2 contracts

Samples: Flow Servicing Agreement (Structured Asset Securities Corp), Flow Servicing Agreement (American Residential Eagle Inc)

Establishment of and Deposits to Custodial Account. The Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] GMAC Mortgage, LLC, as servicer, in trust for [TRUSTEE]the benefit of the Holders of Xxxxxx XS Trust Mortgage Pass-Through Certificates, as Trustee for the [Structured Asset Securities Corporation]”. Each Series 2007-15N.” Any Custodial Account shall be an Eligible Deposit Account established with an a Eligible Institution in a manner that shall provide maximum available insurance thereunderInstitution. Any funds deposited in the Custodial Account may shall be invested in Eligible Investments subject to the provisions of Section 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer upon requestand the NIMS Insurer. The Special Servicer shall deposit in the Custodial Account, Account within two (2) business days Business Days of receipt receipt, and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the Servicing Transfer Date, as applicable:

Appears in 1 contract

Samples: Securitization Servicing Agreement (Lehman XS Trust Series 2007-15n)

Establishment of and Deposits to Custodial Account. The Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] GMAC Mortgage Corporation in trust for [TRUSTEE]U.S. Bank National Association, as Trustee for the [Structured Asset Securities Corporation]”. Each Corporation Mortgage Pass-Through Certificates, Series 2005-S4.” Any Custodial Account shall be an Eligible Deposit Account established with an a Eligible Institution in a manner that shall provide maximum available insurance thereunderInstitution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer upon requestand the NIMS Insurer. The Special Servicer shall deposit in the Custodial AccountAccount on a daily basis, within two (2) business days of receipt and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the Servicing Transfer Date, as applicable:

Appears in 1 contract

Samples: Securitization Subservicing Agreement (Structured Asset Securities Corp 2005-S4)

Establishment of and Deposits to Custodial Account. The Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] GMAC Mortgage Corporation in trust for [TRUSTEE]U.S. Bank National Association, as Trustee for the [Structured Asset Securities Corporation]Corporation Mortgage Pass-Through Certificates, Series 2005-S2”. Each Any Custodial Account shall be an Eligible Deposit Account established with an a Eligible Institution in a manner that shall provide maximum available insurance thereunderInstitution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer upon requestand the NIMS Insurer. The Special Servicer shall deposit in the Custodial AccountAccount on a daily basis, within two (2) business days of receipt and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the Servicing Transfer Date, as applicable:

Appears in 1 contract

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

Establishment of and Deposits to Custodial Account. The Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] GMAC Mortgage, LLC, as servicer, in trust for [TRUSTEE]the benefit of the Holders of GreenPoint Mortgage Funding Trust Mortgage Pass-Through Certificates, as Trustee for the [Structured Asset Securities Corporation]”. Each Series 2006-AR8.” Any Custodial Account shall be an Eligible Deposit Account established with an a Eligible Institution in a manner that shall provide maximum available insurance thereunderInstitution. Any funds deposited in the Custodial Account may shall be invested in Eligible Investments subject to the provisions of Section 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer upon requestand the NIMS Insurer. The Special Servicer shall deposit in the Custodial Account, Account within two (2) business days Business Days of receipt receipt, and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the Servicing Transfer Date, as applicable:

Appears in 1 contract

Samples: Securitization Servicing Agreement (GreenPoint Mortgage Funding Trust 2006-Ar8)

Establishment of and Deposits to Custodial Account. The Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] GMAC Mortgage, LLC, as servicer, in trust for [TRUSTEE]the benefit of the Holders of GreenPoint Mortgage Funding Trust Mortgage Pass-Through Certificates, as Trustee for the [Structured Asset Securities Corporation]”. Each Series 2007-AR1.” Any Custodial Account shall be an Eligible Deposit Account established with an a Eligible Institution in a manner that shall provide maximum available insurance thereunderInstitution. Any funds deposited in the Custodial Account may shall be invested in Eligible Investments subject to the provisions of Section 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer upon requestand the NIMS Insurer. The Special Servicer shall deposit in the Custodial Account, Account within two (2) business days Business Days of receipt receipt, and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the Servicing Transfer Date, as applicable:

Appears in 1 contract

Samples: Securitization Servicing Agreement (Greenpoint Mortgage Funding Trust 2007-Ar1)

Establishment of and Deposits to Custodial Account. The Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] GMAC Mortgage Corporation in trust for [TRUSTEE]U.S. Bank National Association, as Trustee for the [Structured Asset Securities Corporation]Corporation Mortgage Pass-Through Certificates, Series 2005-S1”. Each Any Custodial Account shall be an Eligible Deposit Account established with an a Eligible Institution in a manner that shall provide maximum available insurance thereunderInstitution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer upon requestand the NIMS Insurer. The Special Servicer shall deposit in the Custodial AccountAccount on a daily basis, within two (2) business days of receipt and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the 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 Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] GMAC Mortgage Corporation, as servicer, in trust for [TRUSTEE]the benefit of the Holders of GreenPoint Mortgage Funding Trust Mortgage Pass-Through Certificates, as Trustee for the [Structured Asset Securities Corporation]”. Each Series 2006-AR6.” Any Custodial Account shall be an Eligible Deposit Account established with an a Eligible Institution in a manner that shall provide maximum available insurance thereunderInstitution. Any funds deposited in the Custodial Account may shall be invested in Eligible Investments subject to the provisions of Section 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer upon requestand the NIMS Insurer. The Special Servicer shall deposit in the Custodial Account, Account within two (2) business days Business Days of receipt receipt, and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the Servicing Transfer Date, as applicable:

Appears in 1 contract

Samples: Securitization Servicing Agreement (GreenPoint Mortgage Funding Trust 2006-Ar6)

Establishment of and Deposits to Custodial Account. The Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] GMAC Mortgage Corporation, as servicer, in trust for [TRUSTEE]the benefit of the Holders of GreenPoint Mortgage Funding Trust Mortgage Pass-Through Certificates, as Trustee for the [Structured Asset Securities Corporation]”. Each Series 2006-AR5.” Any Custodial Account shall be an Eligible Deposit Account established with an a Eligible Institution in a manner that shall provide maximum available insurance thereunderInstitution. Any funds deposited in the Custodial Account may shall be invested in Eligible Investments subject to the provisions of Section 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer upon requestand the NIMS Insurer. The Special Servicer shall deposit in the Custodial Account, Account within two (2) business days Business Days of receipt receipt, and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the Servicing Transfer Date, as applicable:

Appears in 1 contract

Samples: Securitization Servicing Agreement (GreenPoint Mortgage Funding Trust 2006-Ar5)

Establishment of and Deposits to Custodial Account. The Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] HomEq Servicing Corporation, in trust for [TRUSTEE]U.S. Bank National Association, as Trustee for the [Structured Asset Securities Corporation]Fremont Home Loan Trust, Series 2004-3”. Each The Custodial Account shall be an Eligible Deposit Account Accounts established with an Eligible Institution in a manner that shall provide maximum available insurance thereunderInstitution. 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 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer upon requestand the NIMS Insurer. The Special Servicer shall deposit in the Custodial AccountAccount on a daily basis, within two (2) business days Business Days of receipt thereof, and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the Servicing Transfer Date, as applicable:):

Appears in 1 contract

Samples: Securitization Servicing Agreement (Fremont Home Loan Trust 2004-3)

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Establishment of and Deposits to Custodial Account. The Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] GMAC Mortgage Corporation, as servicer, in trust for [TRUSTEE]the benefit of the Holders of Lxxxxx XS Trust Mortgage Pass-Through Certificates, as Trustee for the [Structured Asset Securities Corporation]”. Each Series 2006-GP4.” Any Custodial Account shall be an Eligible Deposit Account established with an a Eligible Institution in a manner that shall provide maximum available insurance thereunderInstitution. Any funds deposited in the Custodial Account may shall be invested in Eligible Investments subject to the provisions of Section 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer upon requestand the NIMS Insurer. The Special Servicer shall deposit in the Custodial Account, Account within two (2) business days Business Days of receipt receipt, and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the Servicing Transfer Date, as applicable:

Appears in 1 contract

Samples: Securitization Servicing Agreement (Lehman XS Trust Series 2006-Gp4)

Establishment of and Deposits to Custodial Account. The Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] GMAC Mortgage, LLC, as servicer, in trust for [TRUSTEE]the benefit of the Holders of Xxxxxx XS Trust Mortgage Pass-Through Certificates, as Trustee for the [Structured Asset Securities Corporation]”. Each Series 2007-4N.” Any Custodial Account shall be an Eligible Deposit Account established with an a Eligible Institution in a manner that shall provide maximum available insurance thereunderInstitution. Any funds deposited in the Custodial Account may shall be invested in Eligible Investments subject to the provisions of Section 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer upon requestand the NIMS Insurer. The Special Servicer shall deposit in the Custodial AccountAccount on a daily basis, within two (2) business days of receipt and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the Servicing Transfer Date, as applicable:):

Appears in 1 contract

Samples: Securitization Servicing Agreement (Lehman XS 2007-4n)

Establishment of and Deposits to Custodial Account. The Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] GMAC Mortgage Corporation in trust for [TRUSTEE]Xxxxx Fargo Bank, N.A., as Trustee for the [Structured Asset Securities Corporation]”. Each Corporation Mortgage Pass-Through Certificates, Series 2005-S6.” Any Custodial Account shall be an Eligible Deposit Account established with an a Eligible Institution in a manner that shall provide maximum available insurance thereunderInstitution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer upon requestand the NIMS Insurer. The Special Servicer shall deposit in the Custodial AccountAccount on a daily basis, within two (2) business days of receipt and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the Servicing Transfer Date, as applicable:

Appears in 1 contract

Samples: Securitization Subservicing Agreement (Structured Asset Securities Corp 2005-S6)

Establishment of and Deposits to Custodial Account. The Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] HomEq Servicing Corporation, in trust for [TRUSTEE]LaSalle Bank National Association, as Trustee for the [Structured Asset Securities Corporation]Investment Loan Trust, Series 2004-7”. Each The Custodial Account shall be an Eligible Deposit Account Accounts established with an Eligible Institution in a manner that shall provide maximum available insurance thereunderInstitution. 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 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer upon requestand the NIMS Insurer. The Special Servicer shall deposit in the Custodial AccountAccount on a daily basis, within two (2) business days Business Days of receipt thereof, and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the Servicing Transfer Date, as applicable:

Appears in 1 contract

Samples: Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2004-7)

Establishment of and Deposits to Custodial Account. The Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] GMAC Mortgage Corporation, as servicer, in trust for [TRUSTEE]the benefit of the Holders of GreenPoint Mortgage Funding Trust Mortgage Pass-Through Certificates, as Trustee for the [Structured Asset Securities Corporation]”. Each Series 2006-AR4.” Any Custodial Account shall be an Eligible Deposit Account established with an a Eligible Institution in a manner that shall provide maximum available insurance thereunderInstitution. Any funds deposited in the Custodial Account may shall be invested in Eligible Investments subject to the provisions of Section 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer upon requestand the NIMS Insurer. The Special Servicer shall deposit in the Custodial Account, Account within two (2) business days Business Days of receipt receipt, and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the Servicing Transfer Date, as applicable:

Appears in 1 contract

Samples: Securitization Servicing Agreement (GreenPoint Mortgage Funding Trust 2006-Ar4)

Establishment of and Deposits to Custodial Account. The Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] GMAC Mortgage Corporation in trust for [TRUSTEE]U.S. Bank National Association, as Trustee for the [Structured Asset Securities Corporation]Corporation Mortgage Pass-Through Certificates, Series 2005-S3”. Each Any Custodial Account shall be an Eligible Deposit Account established with an a Eligible Institution in a manner that shall provide maximum available insurance thereunderInstitution. Any funds deposited in the Custodial Account may be invested in Eligible Investments subject to the provisions of Section 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer upon requestand the NIMS Insurer. The Special Servicer shall deposit in the Custodial AccountAccount on a daily basis, within two (2) business days of receipt and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the Servicing Transfer Date, as applicable:

Appears in 1 contract

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

Establishment of and Deposits to Custodial Account. The Special Servicer shall segregate and hold all funds collected and received pursuant to the Transferred 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 “[SPECIAL SERVICER] GMAC Mortgage, LLC, as servicer, in trust for [TRUSTEE]the benefit of the Holders of GreenPoint Mortgage Funding Trust Mortgage Pass-Through Certificates, as Trustee for the [Structured Asset Securities Corporation]”. Each Series 2007-AR2.” Any Custodial Account shall be an Eligible Deposit Account established with an a Eligible Institution in a manner that shall provide maximum available insurance thereunderInstitution. Any funds deposited in the Custodial Account may shall be invested in Eligible Investments subject to the provisions of Section 3.10 hereof. Funds deposited in the Custodial Account may be drawn on by the Special 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 hereto. A copy of such certification or letter agreement shall be furnished to the Master Servicer upon requestand the NIMS Insurer. The Special Servicer shall deposit in the Custodial Account, Account within two (2) business days Business Days of receipt receipt, and retain therein, the following collections received by the Special Servicer and payments made by the Special Servicer after the Cut-off Date (other than scheduled payments of principal and interest due on or before the Cut-off Date) or the Servicing Transfer Date, as applicable:

Appears in 1 contract

Samples: Securitization Servicing Agreement (Greenpoint Mortgage Funding Trust 2007-Ar2)

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