Establishment of Escrow Accounts; Deposits in Escrow Accounts. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts which accounts shall be Eligible Accounts, in the form of time deposit or demand accounts. The creation of any Escrow Account shall be evidenced by a letter agreement in the form shown in Exhibit D hereto. A copy of such letter agreement shall be furnished to the Purchaser upon request.
Appears in 6 contracts
Samples: Reconstituted Servicing Agreement (CSMC Mortgage-Backed Trust Series 2006-5), Mortgage Loan Purchase and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-3), Mortgage Loan Purchase and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-2)
Establishment of Escrow Accounts; Deposits in Escrow Accounts. The Servicer Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan which constitute Escrow Payments separate and apart from any of its own funds and general assets and shall establish and maintain one (1) or more Escrow Accounts which accounts shall be Eligible Accounts, in the form of time deposit or demand accounts. The creation of any Escrow Account shall be evidenced by a letter agreement in the form shown in Exhibit D hereto8 to this Agreement. A copy of such letter agreement shall be furnished to the Purchaser upon request.
Appears in 4 contracts
Samples: Master Mortgage Loan Purchase and Servicing Agreement (HarborView 2006-12), Reconstituted Servicing Agreement (Zuni 2006-Oa1), Reconstituted Servicing Agreement (HarborView 2007-1)
