Servicer Account. In addition to the Collection Account, the Servicer shall be permitted to establish and maintain one or more Servicer Accounts (collectively, the "Servicer Account"), which shall be an Eligible Account, in which the Servicer may deposit all payments by, and collections from, the Mortgagors received in connection with the Mortgage Loans prior to the Servicer's deposit of all such funds required to be deposited into the Collection Account. Withdrawals may be made out of such collections in the Servicer Account to reimburse the Servicer for any advances not otherwise required to be made from the Collection Account or for any refunds made by the Servicer of any sums determined to be overages, or to pay any interest owed to Mortgagors on such account to the extent required by law, and in order to terminate and clear the Servicer Account upon the termination of this Agreement upon the termination of the Trust Fund.
Servicer Account. (a) On or before the Initial Transfer Date, the Servicer shall establish, and hereby agrees to maintain for the duration of this Agreement, the Servicer Account. The Servicer Account shall relate solely to the Loans and shall not be commingled with any other moneys and shall be held in the name of the Servicer for the sole benefit of the Buyer. The Servicer shall give the Seller and the Buyer written notice of any change of the location or account number of the Servicer Account promptly after the date of such change.
Servicer Account. Any account established and maintained for the benefit of the Master Servicer or the Trust by each Servicer with respect to the related Mortgage Loans and any REO Property, pursuant to the terms of the respective Servicing Agreement.
Servicer Account. 82 Section 5.8 Fidelity Bond; Errors and Omissions Policy........................................82 Section 5.9 Collection of Taxes, Assessments and Other Items..................................83
Servicer Account. Borrower shall, or shall cause Servicer to, maintain a depository account, at Xxxxx Fargo or another depository reasonably acceptable to Lender, in Borrower’s capacity as servicer for the purchasers or beneficiaries of the Sold Notes Receivable, the Securitization Notes Receivable, the Participated Notes Receivable, and the SBA Owned Notes Receivables, and, to the extent of Borrower’s retained interest in any such Notes Receivable, Lender (the “Servicer Account”). The agreement(s) governing the Servicer Account must be in form and substance reasonably satisfactory to Lender and Borrower. Borrower shall deposit in the Servicer Account any and all checks, drafts, cash and other remittances received by Borrower in payment or on account of payment, with respect to any of the Notes Receivable; provided, that (i) Borrower shall (A) cause each purchaser of a Sold Note Receivable to instruct FTA to deposit by wire transfer to the Collection Account all Net Sale Proceeds for such Sold Note Receivable upon the receipt thereof by FTA, and (B) cause the depository holding the Collection Account to advise Borrower and Lender of such deposit, and (ii) Borrower shall cause payment of all Note Participation Amounts to be made directly to the Collection Account. The deposits made in the Servicer Account shall be deposited in precisely the form received, except for the endorsements of Borrower where necessary to permit the collection of any such payments, which endorsements Borrower hereby agrees to make. All checks, drafts, cash and other remittances received by Borrower with respect to the Serviced ASBA Assets shall not be deposited in the Servicer Account, but shall instead be deposited in separate accounts maintained by Borrower for the benefit of ASBA.
Servicer Account. 61 Section 5.8 Fidelity Bond; Errors and Omissions Policy ............... 62 Section 5.9 Collection of Taxes, Assessments and Other Items ......... 62 Section 5.10 Periodic Filings with the Securities and Exchange Commission; Additional Information ................................... 63 Section 5.11 Enforcement of Due-on-Sale Clauses; Assumption Agreements 63 Section 5.12 Realization upon Defaulted Mortgage Loans ................ 64 Section 5.13 Trustee to Cooperate; Release of Mortgage Files .......... 66 Section 5.14 Servicing Fee; Servicing Compensation .................... 67 Section 5.15 Reports to the Trustee; Collection Account Statements .... 67 Section 5.16 Annual Statement as to Compliance ........................ 68 Section 5.17 Annual Independent Public Accountants' Servicing Report .. 68 Section 5.18 [Reserved]................................................ 68 Section 5.19 Reports to be Provided by the Servicer ................... 68 Section 5.20 Adjustment of Servicing Compensation in Respect of Prepaid Mortgage Loans............................................ 69 Section 5.21 Periodic Advances ......................................... 69 Section 5.22 Indemnification; Third Party Claims ....................... 70 Section 5.23 Maintenance of Corporate Existence and Licenses; Merger or Consolidation of the Servicer.............................. 71 Section 5.24 Assignment of Agreement by Servicer; Servicer Not to Resign 71 ARTICLE VI
Servicer Account. HA Capital hereby grants to the Indenture Trustee for the benefit of the holders of the Bonds, to secure the performance of the obligations of HA Capital hereunder and under the LLE Servicing Agreement, a security interest in HA Capital’s right, title and interest in, to and under the Servicer Account and all funds now or at any time hereafter on deposit in the Servicer Account, including all interest and other investment earnings on such funds, and all proceeds thereof; provided, however, that the property subject to such security interest shall not include any funds withdrawn from the Servicer Account pursuant to Section 3.07(a) (and any security interest of the Indenture Trustee in such funds shall be automatically terminated and released upon any such withdrawal).
