Common use of Certificate Account; Distributions Clause in Contracts

Certificate Account; Distributions. On or before the issuance of the REMIC Certificates, Xxxxxx Mae shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Certificate Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Regular Interests and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the REMIC Certificates or (iii) maintain the Certificate Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the REMIC Certificates so long as funds held in the Trust Fund by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx shall deposit in the Certificate Account all distributions on the Lower Tier Regular Interests received by it as Trustee of the Trust Fund. All proceeds deposited from time to time in the Certificate Account and all investments made with such moneys, including all income or other gains from such investments, shall be held by the Trustee in the Certificate Account as part of the Trust Fund as herein provided, subject to withdrawal by the Trustee for the purposes set forth in Section 3.05.

Certificate Account; Distributions. On or before the issuance of the REMIC Certificates, Xxxxxx Mae shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Certificate Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Regular Interests Mortgage Assets and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the REMIC Certificates or (iii) maintain the Certificate Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the REMIC Certificates so long as funds held in the Trust Fund by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx shall deposit in the Certificate Account all distributions on the Lower Tier Regular Interests Mortgage Loan proceeds received by it as Trustee of hereunder and under the Trust FundSale and Servicing Agreement or any other servicing contract or arrangement. All proceeds deposited from time to time in the Certificate Account and Account, all investments made with such moneys, including all income or other gains gain from such investments, shall be held by the Trustee in the Certificate Account as part of the Trust Fund as herein provided, subject to withdrawal by the Trustee Xxxxxx Mae for the purposes set forth in Section 3.054.07.

Certificate Account; Distributions. On or before the issuance of the REMIC Certificates, Xxxxxx Mae Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Certificate Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Regular Interests Mortgage Loans and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the REMIC Certificates or (iii) maintain the Certificate Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the REMIC Certificates so long as funds held in the Trust Fund by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx shall deposit in the Certificate Account all distributions on the Lower Tier Regular Interests Mortgage Loan proceeds received by it as Trustee of hereunder and under the Trust FundAgreement or any other servicing contract or arrangement. All proceeds deposited from time to time in the Certificate Account and Account, all investments made with such moneys, including all income or other gains gain from such investments, shall be held by the Trustee in the Certificate Account as part of the Trust Fund as herein provided, subject to withdrawal by the Trustee Xxxxxx Mae for the purposes set forth in Section 3.054.07.

Certificate Account; Distributions. On or before the issuance of the REMIC Trust Fund Certificates, Xxxxxx Mae shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Certificate Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Regular Interests and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the REMIC Trust Fund Certificates or (iii) maintain the Certificate Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the REMIC Trust Fund Certificates so long as funds held in the Trust Fund by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx shall deposit in the Certificate Account all distributions on the Lower Tier Regular Interests received by it as Trustee of the Trust Fund. All proceeds deposited from time to time in the Certificate Account and all investments made with such moneys, including all income or other gains from such investments, shall be held by the Trustee in the Certificate Account as part of the Trust Fund as herein provided, subject to withdrawal by the Trustee Xxxxxx Mae for the purposes set forth in Section 3.053.02.

Certificate Account; Distributions. On or before the issuance of the REMIC Certificates, Xxxxxx Mae Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Certificate Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Regular Interests Mortgage Loans and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the REMIC Certificates or (iii) maintain the Certificate Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the REMIC Certificates so long as funds held in the Trust Fund by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx Mae shall deposit in the Certificate Account all distributions on the Lower Tier Regular Interests Mortgage Loan proceeds received by it as Trustee of hereunder and under the Trust FundAgreement or any other servicing contract or arrangement. All proceeds deposited from time to time in the Certificate Account and Account, all investments made with such moneys, including all income or other gains gain from such investments, shall be held by the Trustee in the Certificate Account as part of the Trust Fund as herein provided, subject to withdrawal by the Trustee Xxxxxx Xxx for the purposes set forth in Section 3.054.08.

Certificate Account; Distributions. On or before the issuance of the REMIC Certificates, Xxxxxx Mae shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Certificate Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Regular Interests and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the REMIC Certificates or (iii) maintain the Certificate Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the REMIC Certificates so long as funds held in the Trust Fund by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx shall deposit in the Certificate Account all distributions on the Lower Tier Regular Interests received by it as Trustee of the Trust Fund. All proceeds deposited from time to time in the Certificate Account and all investments made with such moneys, including all income or other gains from such investments, shall be held by the Trustee in the Certificate Account as part of the Trust Fund as herein provided, subject to withdrawal by the Trustee Xxxxxx Mae for the purposes set forth in Section 3.05.

Certificate Account; Distributions. On or before the issuance of the REMIC Certificates, Xxxxxx Mae shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Certificate Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Regular Interests Mortgage Assets and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the REMIC Certificates or (iii) maintain the Certificate Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the REMIC Certificates so long as funds held in the Trust Fund by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx shall deposit in the Certificate Account all distributions payments on the Lower Tier Regular Interests Mortgage Assets received by it as Trustee of hereunder and under the Trust FundSale and Servicing Agreement or any other servicing contract or arrangement. All proceeds payments on the Mortgage Assets deposited from time to time in the Certificate Account and Account, all investments made with such moneys, including all income or other gains gain from such investments, shall be held by the Trustee in the Certificate Account as part of the Trust Fund as herein provided, subject to withdrawal by the Trustee Xxxxxx Mae for the purposes set forth in Section 3.054.07.

Certificate Account; Distributions. On or before the issuance of the REMIC Certificates, Xxxxxx Mae shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Certificate Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Regular Interests and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the REMIC Certificates or (iii) maintain the Certificate Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the REMIC Certificates so long as funds held in the Trust Fund by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx shall deposit in the Certificate Account all distributions on the Lower Tier Regular Interests received by it as Trustee of the Trust Fund. All proceeds deposited from time to time in the Certificate Account and all investments made with such moneys, including all income or other gains from such investments, shall be held by the Trustee in the Certificate Account as part of the Trust Fund as herein provided, subject to withdrawal by the Trustee Xxxxxx Mae for the purposes set forth in Section 3.05.

Certificate Account; Distributions. On or before the issuance of the REMIC Certificates, Xxxxxx Mae Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Certificate Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Regular Interests Mortgage Assets and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the REMIC Certificates or (iii) maintain the Certificate Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the REMIC Certificates so long as funds held in the Trust Fund by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx Mae shall deposit in the Certificate Account all distributions on the Lower Tier Regular Interests Mortgage Loan proceeds received by it as Trustee of hereunder and under the Trust FundSale and Servicing Agreement or any other servicing contract or arrangement. All proceeds deposited from time to time in the Certificate Account and Account, all investments made with such moneys, including all income or other gains gain from such investments, shall be held by the Trustee in the Certificate Account as part of the Trust Fund as herein provided, subject to withdrawal by the Trustee Xxxxxx Xxx for the purposes set forth in Section 3.054.07.

Certificate Account; Distributions. On or before the issuance of the REMIC Trust Fund Certificates, Xxxxxx Mae Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Certificate Account”, ,” (ii) in lieu of maintaining any such account or accounts, maintain the Certificate Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Upper Tier Regular Interests and the Cap Contracts and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the REMIC Trust Fund Certificates or (iii) maintain the Certificate Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the REMIC Trust Fund Certificates so long as funds held in the Trust Fund by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx Mae shall deposit in the Certificate Account all distributions on the Lower Upper Tier Regular Interests received by it as Trustee of the Trust Fundand all payments received by it as Trustee of the Trust pursuant to the Cap Contracts. All proceeds deposited from time to time in the Certificate Account and all investments made with such moneys, including all income or other gains from such investments, shall be held by the Trustee in the Certificate Account as part of the Trust Fund as herein provided, subject to withdrawal by the Trustee Xxxxxx Xxx for the purposes set forth in Section 3.054.10.

Certificate Account; Distributions. On or before the issuance of the REMIC Trust Fund Certificates, Xxxxxx Mae Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund Upper Tier REMIC 1 that shall collectively be the “Certificate Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Regular Interests and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the interests in Upper Tier REMIC Certificates 1 or (iii) maintain the Certificate Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the interests in Upper Tier REMIC Certificates 1 so long as funds held in the Trust Fund Upper Tier REMIC 1 by, or for the account of, the Trustee shall at all times be identified. To the extent that tht the Certificate Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx Mae shall deposit in the Certificate Account all distributions on the Lower Tier Regular Interests received by it as Trustee of the Trust FundUpper Tier REMIC 1. All proceeds deposited from time to time in the Certificate Account and all investments made with such moneys, including all income or other gains from such investments, shall be held by the Trustee in the Certificate Account as part of the Trust Fund Upper Tier REMIC 1 as herein provided, subject to withdrawal by the Trustee Xxxxxx Xxx for the purposes set forth in Section 3.053.02.

Certificate Account; Distributions. On or before the issuance of the REMIC CertificatesLower Tier Classes, Xxxxxx Mae Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund Lower Tier REMIC that shall collectively be the “Certificate Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Regular Interests Mortgage Loans and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the REMIC Certificates Lower Tier Classes or (iii) maintain the Certificate Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the REMIC Certificates Lower Tier Classes so long as funds held in the Trust Fund Lower Tier REMIC by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx Mae shall deposit in the Certificate Account all distributions on the Lower Tier Regular Interests Mortgage Loan proceeds received by it as Trustee of hereunder and under the Trust FundAgreement or any other servicing contract or arrangement. All proceeds deposited from time to time in the Certificate Account and Account, all investments made with such moneys, including all income or other gains gain from such investments, shall be held by the Trustee in the Certificate Account as part of the Trust Fund Lower Tier REMIC as herein provided, subject to withdrawal by the Trustee Xxxxxx Xxx for the purposes set forth in Section 3.054.09.

Certificate Account; Distributions. On or before the issuance of the REMIC Certificates, Xxxxxx Mae Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Certificate Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Regular Interests and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the REMIC Certificates or (iii) maintain the Certificate Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the REMIC Certificates so long as funds held in the Trust Fund by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx Mae shall deposit in the Certificate Account all distributions on the Lower Tier Regular Interests received by it as Trustee of the Trust Fund. All proceeds deposited from time to time in the Certificate Account and all investments made with such moneys, including all income or other gains from such investments, shall be held by the Trustee in the Certificate Account as part of the Trust Fund as herein provided, subject to withdrawal by the Trustee Xxxxxx Xxx for the purposes set forth in Section 3.053.02.

Certificate Account; Distributions. On or before the issuance of the REMIC Certificates, Xxxxxx Mae shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust Fund that shall collectively be the “Certificate Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Lower Tier Regular Interests and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the REMIC Certificates or (iii) maintain the Certificate Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the REMIC Certificates so long as funds held in the Trust Fund by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx shall deposit in the Certificate Account all distributions on the Lower Tier Regular Interests received by it as Trustee of the Trust Fund. All proceeds deposited from time to time in the Certificate Account and all investments made with such moneys, including all income or other gains from such investments, shall be held by the Trustee in the Certificate Account as part of the Trust Fund as herein provided, subject to withdrawal by the Trustee for the purposes set forth in Section 3.05.