Certificate Account. (a) The Master Servicer on behalf of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section 4.07, (iv) any amount required to be paid pursuant to Section 9.01 and (v) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature or be payable on demand not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) any investment in the institution with which the Certificate Account is maintained may mature or be payable on demand on such Distribution Date and (ii) any other investment may mature or be payable on demand on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. Subject to Section 3.16(e), all income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investments.

Appears in 143 contracts

Samples: Pooling and Servicing Agreement (RALI Series 2006-Qh1 Trust), Pooling and Servicing Agreement (RALI Series 2006-Qo7 Trust), Pooling and Servicing Agreement (RALI Series 2006-QA1Trust)

Appears in 95 contracts

Samples: Pooling and Servicing Agreement (Residential Accredit Loans Inc), Series Supplement to Pooling and Servicing Agreement (Residential Accredit Loans Inc), Pooling and Servicing Agreement (Residential Accredit Loans Inc)

Certificate Account. (a) The Master Servicer on behalf of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section ~~4.07,~~ 4.07 and (iv~~) any amount required to be paid pursuant to Section 9.01 and (v~~) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature or be payable on demand not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) any investment in the institution with which the Certificate Account is maintained may mature or be payable on demand on such Distribution Date and (ii) any other investment may mature or be payable on demand on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. Subject to Section 3.16(e), all income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investments.

Appears in 39 contracts

Samples: Pooling and Servicing Agreement (RFMSI Series 2007-Sa1 Trust), Pooling and Servicing Agreement (RFMSI Series 2006-S4 Trust), Pooling and Servicing Agreement (RFMSI Series 2006-SA1Trust)

Certificate Account. (a) The Master Servicer on behalf of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section 4.07, (iv) any amount required to be paid pursuant to ~~Section~~ Section 9.01 and (v) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature or be payable on demand not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) any investment in the institution with which the Certificate Account is maintained may mature or be payable on demand on such Distribution Date and (ii) any other investment may mature or be payable on demand on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. Subject to Section 3.16(e), all income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investments.

Appears in 25 contracts

Samples: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc), Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc), Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)

Appears in 18 contracts

Samples: Pooling and Servicing Agreement (RASC Series 2006-Emx4 Trust), Pooling and Servicing Agreement (RAMP Series 2006-Rz1 Trust), Pooling and Servicing Agreement (RASC Series 2006-Emx8 Trust)

Certificate Account. (a) The Master Servicer on behalf of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section 4.07, (iv) any amount required to be paid pursuant to Section 9.01 and (v) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) any investment in the institution with which the Certificate Account is maintained may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. Subject to Section 3.16(e), all income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investments.

Appears in 12 contracts

Samples: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc), Pooling and Servicing Agreement (Residential Accredit Loans Inc), Pooling and Servicing Agreement (Residential Accredit Loans Inc)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be ~~deposited in the Certificate Account~~ paid pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) ), Section 4.07 or Section ~~4.07~~4.08, (iv) any amount required to be paid pursuant to Section ~~9.01~~ 9.01, (v) any prepayment charges on the Mortgage Loans received during the related Prepayment Period and (vvi) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) On or prior to the Business Day immediately following each Determination Date, the Master Servicer shall determine any amounts owed by the Yield Maintenance Agreement Provider under the Yield Maintenance Agreement and inform the Trustee in writing of the amount so calculated. (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 10 contracts

Samples: Pooling and Servicing Agreement (RAMP Series 2006-Nc1 Trust), Pooling and Servicing Agreement (RAMP Series 2006-Rs2 Trust), Pooling and Servicing Agreement (RAMP Series 2006-Nc2 Trust)

Appears in 8 contracts

Samples: Pooling and Servicing Agreement (RASC Series 2005-Ks5 Trust), Pooling and Servicing Agreement (Residential Asset Securities Corp), Pooling and Servicing Agreement (RASC Series 2005-Ks4 Trust)

Certificate Account. (a) The Master Servicer on behalf of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section ~~4.07,~~ 4.07 and (iv~~) any amount required to be paid pursuant to Section 9.01 and (v~~) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature or be payable on demand not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) any investment in the institution with which the Certificate Account is maintained may mature or be payable on demand on such Distribution Date and (ii) any other investment may mature or be payable on demand on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. Subject to Section 3.16(e), all income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic ~~self-~~self interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or ~~sub-~~sub custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investments.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (RFMSI Series 2007-S6 Trust), Pooling and Servicing Agreement (RFMSI Series 2007-S5 Trust), Pooling and Servicing Agreement (RFMSI Series 2007 SA3 Trust)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) ), Section 4.07 or Section ~~4.07~~4.08, (iv) any amount to be deposited in the Reserve Fund pursuant to Section 4.09, (v) any amount required to be paid pursuant to Section ~~9.01~~ 9.01, (vi) any prepayment charges on the Mortgage Loans received during the related Prepayment Period and (vvii) all other amounts constituting the Group I or Group II Available Distribution Amount for the immediately succeeding Distribution Date. (b) [reserved] (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (RAMP Series 2004-Rs10 Trust), Pooling and Servicing Agreement (RAMP Series 2004-Rs8 Trust), Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section 4.07, (iv) any amount required to be paid pursuant to Section ~~9.01~~ 9.01, and (v) ~~all~~ other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) On or prior to the Business Day immediately following each Determination Date, the Master Servicer shall determine any amounts owed by the Swap Counterparty under the Swap Agreement and inform the Supplemental Interest Trust Trustee in writing of the amount so calculated. (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (RASC Series 2006-Ks8 Trust), Pooling and Servicing Agreement (RASC Series 2006-Ks9 Trust), Pooling and Servicing Agreement (RASC Series 2007-Ks3 Trust)

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc), Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc), Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) ), Section 4.07 or Section ~~4.07~~4.08, (iv) any amount ~~required~~ to be ~~paid~~ deposited in the Reserve Fund pursuant to Section ~~9.01~~ 4.09, (v) any prepayment charges on the Mortgage Loans received during the related Prepayment Period and (vvi) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) On or prior to the Business Day immediately following each Determination Date, the Master Servicer shall determine any amounts owed by the Swap Counterparty under the Swap Agreement and inform the Trustee in writing of the amount so calculated. (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (RAMP Series 2005-Rs6 Trust), Pooling and Servicing Agreement (RAMP Series 2005-Rs4 Trust), Pooling and Servicing Agreement (RAMP Series 2005-Efc1 Trust)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be ~~deposited in the Certificate Account~~ paid pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section 4.07, (iv) any amount required to be paid pursuant to Section ~~9.01~~ 9.01, (v) any prepayment charges on the Mortgage Loans received during the related Prepayment Period and (vvi) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) On or prior to the Business Day immediately following each Determination Date, the Master Servicer shall determine any amounts owed by the Swap Counterparty under the Swap Agreement and inform the Supplemental Interest Trust Trustee in writing of the amount so calculated. (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (RAMP Series 2006-Rs6 Trust), Pooling and Servicing Agreement (RAMP Series 2006-Efc2 Trust), Pooling and Servicing Agreement (Residential Funding Mortgage Securities Ii Inc)

Certificate Account. (a) The Master Servicer on behalf of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section 4.07, (iv) any amount required to be paid pursuant to Section 9.01 and (v) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the ~~Certificateholders~~Certificateholders and the Owner of the Excess Spread, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) any investment in the institution with which the Certificate Account is maintained may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. Subject to Section 3.16(e), all income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investments.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (SG Mortgage Securities, LLC), Pooling and Servicing Agreement (SG Mortgage Securities, LLC), Pooling and Servicing Agreement (SG Mortgage Securities, LLC)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be ~~deposited in the Certificate Account~~ paid pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) ), Section 4.07 or Section ~~4.07~~4.08, (iv) any amount required to be paid pursuant to Section ~~9.01~~ 9.01, (v) any prepayment charges on the Mortgage Loans received during the related Prepayment Period, (vi) an amount equal to the Certificate Insurance Premium payable on such Distribution Date, and (vvii) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. In addition, as and to the extent required pursuant to Section 4.10(b), the Trustee shall withdraw from the Insurance Account and deposit into the Certificate Account the amount necessary to pay the Insured Payment on each Distribution Date to the extent received from the Insurer. (b) On or prior to the Business Day immediately following each Determination Date, the Master Servicer shall determine any amounts owed by the Yield Maintenance Agreement Provider under the Yield Maintenance Agreement and inform the Trustee in writing of the amount so calculated. (c) On each Distribution Date, prior to making any other distributions referred to in Section 4.02 herein, the Trustee shall withdraw from the Certificate Account and pay to the Insurer, by wire transfer of immediately available funds to the Insurer Account, the Certificate Insurer Premium as designated by the Master Servicer in the written statement delivered in accordance with Section 4.04(a) for such Distribution Date. The Trustee shall deposit any amounts received from the Insurer pursuant to the Policy into the Insurance Account. The amount necessary to pay any Insured Payment shall be distributed on the immediately following Distribution Date as part of the Available Distribution Amount. (d) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the ~~Certificateholders~~Certificateholders and the Insurer, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (RAMP Series 2005-Nc1 Trust), Pooling and Servicing Agreement (RAMP Series 2005-Efc7 Trust)

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Residential Asset Securities Corp), Pooling and Servicing Agreement (RASC Series 2004-Ks8 Trust)

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (RAAC Series 2004-Sp2), Pooling and Servicing Agreement (RAAC Series 2005-Sp1 Trust)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) ), 4.07 or ~~Section 4.07~~4.08, (iv) any amount required to be paid pursuant to Section ~~9.01 and~~ 9.01, (v) all other amounts constituting the Group I Available Distribution Amount or Group II Available Distribution Amount, as applicable, for the immediately succeeding Distribution ~~Date~~Date and (vi) any payments or collections in the nature of prepayment charges received by the Master Servicer in respect of the Mortgage Loans and the related Prepayment Period. (b) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (RAMP Series 2004-Rz3 Trust), Pooling and Servicing Agreement (RAMP Series 2004-Rz3 Trust)

Certificate Account. (a) The ~~Master Servicer on behalf of the~~ Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any P&I Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section 4.07, (iv) any amount required to be paid pursuant to Section 9.01 and (v) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature or be payable on demand not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) any investment in the institution with which the Certificate Account is maintained may mature or be payable on demand on such Distribution Date and (ii) any other investment may mature or be payable on demand on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. Subject to Section 3.16(e), all income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's ’s economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investments.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Phoenix Residential Securities, LLC), Master Servicing Agreement (Phoenix Residential Securities, LLC)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be ~~deposited in the Certificate Account~~ paid pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) ), Section 4.07 or Section ~~4.07~~4.08, (iv) any amount required to be paid pursuant to Section ~~9.01~~ 9.01, (v) any prepayment charges on the Mortgage Loans received during the related Prepayment Period and (vvi) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) On or prior to the Business Day immediately following each Determination Date, the Master Servicer shall determine any amounts owed by the Yield Maintenance Agreement Provider under the Yield Maintenance Agreement and any amounts owed by the Swap Counterparty under the Swap Agreement and inform the Trustee, or the Supplemental Interest Trust Trustee, as applicable, in writing of the amount so calculated. (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (RAAC Series 2006-Sp4 Trust), Pooling and Servicing Agreement (RAAC Series 2006-Sp3 Trust)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) ), 4.07 or ~~Section 4.07~~4.08, (iv) any amount required to be paid pursuant to Section ~~9.01 and~~ 9.01, (v) an amount equal to the Certificate Insurer Premium payable on such Distribution Date, (vi) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date and (vii) any payments or collections in the nature of prepayment charges received by the Master Servicer in respect of the Mortgage Loans and the related Prepayment Period. (b) On each Distribution Date, prior to making any other distributions referred to in Section 4.02 herein, the Trustee shall withdraw from the Certificate Account and pay to the Insurer, by wire transfer of immediately available funds to the Insurer Account, the Certificate Insurer Premium for such Distribution Date. (bc) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the ~~Certificateholders~~Certificateholders and the Insurer, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc), Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) ), Section 4.07 or Section ~~4.07~~4.08, (iv) any amount required to be paid pursuant to Section ~~9.01~~ 9.01, (v) any prepayment charges on the Mortgage Loans received during the related Prepayment Period and (vvi) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) On or prior to the Business Day immediately following each Determination Date, the Master Servicer shall determine any amounts owed by the Swap Counterparty under the Swap Agreement and inform the Trustee in writing of the amount so calculated. (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RAMP Series 2006-Rs1 Trust)

Certificate Account. ~~(a)~~ The ~~Master Servicer on behalf of the~~ Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal establish, prior to the ~~sum of (i) any Advance for the immediately succeeding Distribution~~ Delivery Date, ~~(ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a)~~and shall maintain, (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section 4.07, (iv) any amount required to be paid pursuant to Section 9.01 and (v) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee ~~for the benefit~~ on behalf of the ~~Certificateholders~~Holders of interests in the Trust Fund, the Certificate Account, which shall ~~mature or~~ be ~~payable on demand not later than~~ an Eligible Account, into which the ~~Business Day next preceding~~ Trustee upon receipt from the ~~Distribution Date next following~~ Servicer shall deposit all payments remitted by the ~~date~~ Servicer and any amounts required to be remitted by the Depositor pursuant to the terms hereof. All distributions to be made from time to time to Holders of ~~such investment (except that (i) any investment~~ interests in the ~~institution with which~~ Trust Fund out of funds in the Certificate Account ~~is maintained may mature~~ shall be made by or ~~be payable~~ on ~~demand on such Distribution Date~~ behalf of the Trustee. The Trustee will give notice to the Servicer, the Rating Agencies, the Insurer and ~~(ii) any other investment may mature or be payable on demand on such Distribution Date if~~ the ~~Trustee shall advance funds on such Distribution Date to~~ Depositor of the location of the Certificate Account and of any change thereof, prior to the use thereof. Funds held in the ~~amount payable on such investment on such Distribution Date, pending receipt thereof~~ Certificate Account and delivered to the ~~extent necessary to make distributions on the Certificates) and shall not be sold or disposed of~~ Trustee earlier than one Business Day prior to ~~maturity~~the next Distribution Date shall be invested by the Trustee in Eligible Investments as directed by the Servicer or shall remain uninvested. ~~Subject~~ The Trustee shall cause each such Eligible Investment to ~~Section 3.16(e~~be Delivered to it or its nominee (including a securities intermediary)~~, all~~ . All income and gain net of any losses realized from any such investment shall be for the benefit of the ~~Master~~ Servicer and shall be subject to ~~its~~ withdrawal ~~or order~~ at the Servicer's direction from time to time. The amount of any losses net of any gains not paid to the Servicer incurred in respect of any such investments shall be deposited in the Certificate Account ~~by the Master Servicer~~ out of ~~its~~ the Servicer's own funds immediately as ~~realized without~~ realized. In addition, the Trustee shall (i) withdraw from the Reserve Account and deposit into the Certificate Account an amount equal to the amount of any ~~right~~ Realized Losses on the Mortgage Loans during the related Prepayment Period in excess of ~~reimbursement~~the Class S Interest Distribution Amount, to the extent of funds available in the Reserve Account (with such withdrawal allocated between the Loan Groups in proportion to Realized Losses on each Loan Group) and (ii) withdraw from the Insurance Account and deposit into the Certificate Account the amount necessary to make any Insured Payment on each Distribution Date, to the extent received from the Insurer (with such withdrawal allocated to the Loan Group to which an Insured Payment relates). The Trustee shall make, to the extent required or ~~its Affiliates are permitted to receive compensation that could be deemed to be in~~ authorized hereunder, withdrawals from the ~~Trustee's economic self-interest~~ Certificate Account for the following purposes: (i) ~~serving as investment adviser (with respect~~ to ~~investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect~~ withdraw any amount deposited in the Certificate Account and not required to ~~certain of the Permitted Investments,~~ be deposited therein; (ii) ~~using Affiliates~~ to ~~effect transactions in certain Permitted Investments and~~ reimburse the Servicer for any unreimbursed Nonrecoverable Advance; (iii) ~~effecting transactions in certain Permitted Investments~~to make required distributions pursuant to Section 4.02; and (iv) to pay to the Depositor any amount to which it is entitled pursuant to Section 7.03.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RASC Series 2006-Emx9 Trust)

Certificate Account. (a) The ~~Master Servicer on behalf of the~~ Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be ~~deposited in the Certificate Account~~ paid pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) ), Section 4.07 or Section ~~4.07~~4.09, (iv) any amount required to be paid pursuant to Section ~~9.01~~ 9.01, (v) any prepayment charges on the Mortgage Loans received during the related Prepayment Period, (vi) an amount equal to the Mortgage Insurance Premium Payable on such Distribution Date and (vvii) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) On or prior to the Business Day immediately following each Determination Date, the Master Servicer shall determine any amounts owed by the Yield Maintenance Agreement Provider under the Yield Maintenance Agreement and any amounts owed by the Swap Counterparty under the Swap Agreement and inform the Trustee, or the Supplemental Interest Trust Trustee, as applicable, in writing of the amount so calculated. The Master Servicer shall deposit or cause to be deposited in the Certificate Account on or before 2:00 P.M. New York Time on each Swap Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the lesser of (i) any Net Swap Payments and Swap Termination Payments (other than Swap Termination Payments resulting from a Swap Counterparty Trigger Event) payable by the Supplemental Interest Trust Trustee, on behalf of the Supplemental Interest Trust, to the Swap Counterparty pursuant to the Swap Agreement and (ii) the amount on deposit in the Custodial Account on such Certificate Account Deposit Date. In addition, on each Distribution Date, prior to making any other distributions referred to in Section 4.02 herein, the Trustee shall withdraw from the Certificate Account and pay to the Mortgage Insurance Policy Provider, by wire transfer of immediately available funds, the Mortgage Insurance Premium for such Distribution Date. (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the last Business Day ~~next~~ preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee ~~shall advance~~ advances funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e)~~In the absence of written instructions from the Master Servicer, ~~all~~ the funds in the Certificate Account shall remain uninvested. All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RAAC Series 2007-Sp3 Trust)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RASC Series 2004-Ks10 Trust)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) ), Section 4.07 or Section ~~4.07~~4.08, (iv) any amount to be deposited in the Reserve Fund pursuant to Section 4.09, (v) any amount required to be paid pursuant to Section ~~9.01~~ 9.01, (vi) any prepayment charges on the Mortgage Loans received during the related Prepayment Period and (vvii) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) [reserved] (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Asset Mortgage Products Ramp Trust 2004-Rs3)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be ~~deposited in the Certificate Account~~ paid pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section 4.07, (iv) any amount required to be paid pursuant to Section ~~9.01~~ 9.01, (v) any prepayment charges on the Mortgage Loans received during the related Prepayment Period and (vvi) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) On or prior to the Business Day immediately following each Determination Date, the Master Servicer shall determine any amounts owed by the Swap Counterparty under the Swap Agreement and inform the Trustee in writing of the amount so calculated. (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RAMP Series 2006-Nc3 Trust)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section ~~3.16(e)~~ 4.07, 4.08 or ~~Section 4.07~~9.01 in respect of the Mortgage Loans, (iv) any prepayment charges on the Mortgage Loans received during the related Prepayment Period, (v) an amount ~~required~~ equal to ~~be paid pursuant to Section 9.01~~ the Certificate Insurer Premium payable on such Distribution Date and (vvi) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. In addition, as and to the extent required pursuant to Section 4.10(b), the Trustee shall withdraw from the Insurance Account and deposit into the Certificate Account the amount necessary to pay the Insured Amount on each Distribution Date to the extent received from the Insurer. (b) On each Distribution Date, prior to making any other distributions referred to in Section 4.02 herein, the Trustee shall withdraw from the Certificate Account and pay to the Insurer, by wire transfer of immediately available funds to the Insurer Account, the Certificate Insurer Premium for such Distribution Date. The Trustee shall deposit any amounts received from the Insurer pursuant to the Policy into the Insurance Account. The amount necessary to pay any Insured Amount shall be distributed on the immediately following Distribution Date as part of the Available Distribution Amount, as applicable. (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the ~~Certificateholders~~Certificateholders and the Insurer, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) any investment in the institution with which the Certificate Account is maintained may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be ~~deposited in the Certificate Account~~ paid pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) ), Section 4.07 or Section ~~4.07~~4.08, (iv) any amount required to be paid pursuant to Section ~~9.01~~ 9.01, (v) any prepayment charges on the Mortgage Loans received during the related Prepayment Period, (vi) an amount equal to the Certificate Insurance Premium payable on such Distribution Date, and (vvii) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. In addition, as and to the extent required pursuant to Section 4.10(b), the Trustee shall withdraw from the Insurance Account and deposit into the Certificate Account the amount necessary to pay the Insured Payment on each Distribution Date to the extent received from the Insurer. (b) On or prior to the Business Day immediately following each Determination Date, the Master Servicer shall determine any amounts owed by the Yield Maintenance Agreement Provider under the Yield Maintenance Agreement and inform the Trustee in writing of the amount so calculated. (c) On each Distribution Date, prior to making any other distributions referred to in Section 4.02 herein, the Trustee shall withdraw from the Certificate Account and pay to the Insurer, by wire transfer of immediately available funds to the Insurer Account, the Certificate Insurer Premium for such Distribution Date. The Trustee shall deposit any amounts received from the Insurer pursuant to the Policy into the Insurance Account. The amount necessary to pay any Insured Payment shall be distributed on the immediately following Distribution Date as part of the Available Distribution Amount. (d) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the ~~Certificateholders~~Certificateholders and the Insurer, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RAMP Series 2005-Rs9 Trust)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) ), Section 4.07 or Section ~~4.07~~4.08, (iv) any amount required to be paid pursuant to Section ~~9.01~~ 9.01, and ~~(v)~~ all other amounts constituting the Available Distribution ~~Amount~~ Amounts for the immediately succeeding Distribution Date. In addition, the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on the Certificate Account Deposit Date for the first Distribution Date an amount equal to $0.05. (b) [reserved] (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as ~~realized without any right of reimbursement~~realized. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investments.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Asset Mort Prod Inc Ramp Series 2004 Sl1 Trust)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Accredit Loans Inc)

Certificate Account. (a) The ~~Master Servicer on behalf of the~~ Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be ~~deposited in the Certificate Account~~ paid pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section 4.07, (iv) any amount required to be paid pursuant to Section ~~9.01~~ 9.01, (v) any prepayment charges on the Mortgage Loans received during the related Prepayment Period and (vvi) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) On or prior to the Business Day immediately following each Determination Date, the Master Servicer shall determine any amounts owed by the Yield Maintenance Agreement Provider under the Yield Maintenance Agreement and any amounts owed by the Swap Counterparty under the Swap Agreements and inform the Supplemental Interest Trust Trustee in writing of the amount so calculated. On or prior to each Distribution Date, the Master Servicer shall withdraw from the Custodial Account an amount equal to the Credit Risk Manager Fee for such Distribution Date and shall pay such amount to the Credit Risk Manager. (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated by the Master Servicer, in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee ~~shall advance~~ advances funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RAMP Series 2007-Rs1 Trust)

Certificate Account. (a) The ~~Master~~ Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the ~~Master~~ Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the ~~Certificate~~ Custodial Account pursuant to ~~Section 3.12(a~~SECTION 3.12(A), (iii) any amount required to be deposited in the Certificate Account pursuant to ~~Section 3.16(e) or Section~~ SECTION 4.07, (iv) ~~any~~ the amount ~~required~~ by which the servicing compensation is reduced with respect to ~~be paid~~ the period ending on the immediately succeeding Distribution Date pursuant to ~~Section 9.01~~ SECTION 3.16(E); and (v) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) The Trustee shall, upon written request from the ~~Master~~ Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) any investment in the institution with which the Certificate Account is maintained may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the ~~Master~~ Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the ~~Master~~ Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Taconic Asset Acceptance Company, L.L.C.)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)

Certificate Account. (a) The Master Servicer on behalf of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section 4.07, (iv) any amount required to be paid pursuant to Section ~~9.01~~ 9.01, and (v) all other amounts constituting the Available Distribution Amount for each Mortgage Pool for the immediately succeeding Distribution Date. (b) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) any investment in the institution with which the Certificate Account is maintained may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. Subject to Section 3.16(e), all income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investments.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any P&I Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section 4.07, (iv) any amount required to be paid pursuant to Section ~~9.01 and~~ 9.01, [(v) an amount equal to the Certificate Insurer Premium payable for such Distribution Date,] (vi) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution ~~Date~~Date and (vii) any payments or collections in the nature of prepayment charges received by the Master Servicer in respect of the Mortgage Loans and the related Prepayment Period. [In addition, as and to the extent required pursuant to Section 4.11(b), the Trustee shall withdraw from the Insurance Account any Insured Payment then on deposit in the Insurance Account and deposit such amount into the Certificate Account.] (b) [On each Distribution Date, prior to making any other distributions referred to in Section 4.02 herein, the Trustee shall withdraw from the Certificate Account and pay to the Certificate Insurer, by wire transfer of immediately available funds to the Certificate Insurer Account, the Certificate Insurer Premium for such Distribution Date. On or prior to the Business Day immediately following each Determination Date, the Master Servicer shall determine any amounts owed by the Swap Counterparty under the Swap Agreement and inform the Supplemental Interest Trust Trustee in writing of the amount so calculated.] (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Phoenix Residential Securities, LLC)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RASC Series 2004-Ks11 Trust)

Certificate Account. (a) The Master Servicer on behalf of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section 4.07, (iv) any amount required to be paid pursuant to Section 9.01 and (v) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the ~~Certificateholders~~Certificateholders and the Owner of the Excess Spread, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) any investment in the institution with which the Certificate Account is maintained may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. Subject to Section 3.16(e), all income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. ~~The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self~~NY1-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investments.171317.4 95

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)

Certificate Account. (a) The ~~Master~~ Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the ~~Master~~ Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section 4.07, (iv) any amount required to be paid pursuant to Section ~~9.01 and~~ 9.01, (v) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution ~~Date~~Date and (vi) any payments or collections in the nature of prepayment charges received by the Servicer in respect of the Mortgage Loans and the related Prepayment Period. (b) On or prior to the Business Day immediately following each Determination Date, the Servicer shall determine any amounts owed by the Swap Counterparty under the Swap Agreement and inform the Trustee in writing of the amount so calculated. (c) The Trustee shall, upon written request from the ~~Master~~ Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the ~~Master~~ Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the ~~Master~~ Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenpoint Mortgage Securities LLC)

Certificate Account. (a) The ~~Master Servicer on behalf of the~~ Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be ~~deposited in the Certificate Account~~ paid pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) ), Section 4.07 or Section ~~4.07~~4.08, (iv) any amount required to be paid pursuant to Section ~~9.01~~ 9.01, (v) any prepayment charges on the Mortgage Loans received during the related Prepayment Period, (vi) an amount equal to the Mortgage Insurance Premium Payable on such Distribution Date and (vvii) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) On or prior to the Business Day immediately following each Determination Date, the Master Servicer shall determine any amounts owed by the Yield Maintenance Agreement Provider under the Yield Maintenance Agreement, any amounts owed by the Basis Risk Cap Agreement Provider under the Basis Risk Cap Agreement and any amounts owed by the Swap Counterparty under the Swap Agreement and inform the Trustee, or the Supplemental Interest Trust Trustee, as applicable, in writing of the amount so calculated. The Master Servicer shall deposit or cause to be deposited in the Certificate Account on or before 2:00 P.M. New York Time on each Swap Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the lesser of (i) any Net Swap Payments and Swap Termination Payments (other than Swap Termination Payments resulting from a Swap Counterparty Trigger Event) payable by the Supplemental Interest Trust Trustee, on behalf of the Supplemental Interest Trust, to the Swap Counterparty pursuant to the Swap Agreement and (ii) the amount on deposit in the Custodial Account on such Certificate Account Deposit Date. In addition, on each Distribution Date, prior to making any other distributions referred to in Section 4.02 herein, the Trustee shall withdraw from the Certificate Account and pay to the Mortgage Insurance Policy Provider, by wire transfer of immediately available funds, the Mortgage Insurance Premium for such Distribution Date. (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the last Business Day ~~next~~ preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee ~~shall advance~~ advances funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e)~~In the absence of written instructions from the Master Servicer, ~~all~~ the funds in the Certificate Account shall remain uninvested. All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RAAC Series 2007 SP2 Trust)

Certificate Account. (a) The ~~Master Servicer on behalf of the~~ Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section 4.07, (iv) any amount required to be paid pursuant to Section 9.01 and (v) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature or be payable on demand not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) any investment in the institution with which the Certificate Account is maintained may mature or be payable on demand on such Distribution Date and (ii) any other investment may mature or be payable on demand on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. Subject to Section 3.16(e), all income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investments.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RALI Series 2007-Qh9 Trust)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) ), Section 4.07 or Section ~~4.07~~4.08, (iv) any amount ~~required~~ to be ~~paid~~ deposited in the Reserve Fund pursuant to Section ~~9.01~~ 4.09, (v) any prepayment charges on the Mortgage Loans received during the related Prepayment Period and (vvi) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) On or prior to the Business Day immediately following each Determination Date, the Master Servicer shall determine any amounts owed by the Yield Maintenance Agreement Counterparty under the Yield Maintenance Agreement and inform the Trustee in writing of the amount so calculated. (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RAMP Series 2005-Rs2 Trust)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) ), Section 4.07 or Section ~~4.07~~4.08, (iv) any amount required to be ~~paid~~ deposited in the Certificate Account pursuant to Section ~~9.01~~ 9.01, (v) any prepayment charges on the Mortgage Loans received during the related Prepayment Period and (vvi) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) On or prior to the Business Day immediately following each Determination Date, the Master Servicer shall determine any amounts owed by the Swap Counterparty under the Swap Agreement and inform the Trustee in writing of the amount so calculated. (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RAMP Series 2005-Rs7 Trust)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be ~~deposited in the Certificate Account~~ paid pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) or Section 4.07, (iv) any amount required to be paid pursuant to Section ~~9.01~~ 9.01, (v) any prepayment charges on the Mortgage Loans received during the related Prepayment Period and (vvi) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) On or prior to the Business Day immediately following each Determination Date, the Master Servicer shall determine any amounts owed by the Swap Counterparty under the Swap Agreement and inform the Trustee in writing of the amount so calculated. On or prior to each Distribution Date, the Master Servicer shall withdraw from the Custodial Account an amount equal to the Credit Risk Manager Fee for such Distribution Date and shall pay such amount to the Credit Risk Manager. (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RAMP Series 2006-Rs3 Trust)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount that the Master Servicer is not permitted to withdraw from the Certificate Account pursuant to Section 3.16(e), (iv) any amount required to be deposited in the Certificate Account pursuant to Section ~~3.16(e) or Section~~ 4.07, (ivv) any amount required to be ~~paid~~ deposited in the Certificate Account pursuant to Section ~~9.01~~ 9.01, (vi) an amount equal to the Premium payable on such Distribution Date and (vvii) all other amounts constituting the Available Distribution Amount for each Loan Group for the immediately succeeding Distribution Date. (b) On each Distribution Date, prior to making any other distributions referred to in Section 4.02 herein, the Trustee shall withdraw from the Certificate Account and pay to the Mortgage Insurer, by wire transfer of immediately available funds, the Premium for such Distribution Date. (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) any investment in the institution with which the Certificate Account is maintained may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Asset Securities Corp)

Certificate Account. (a) The ~~Master Servicer on behalf of the~~ Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be ~~deposited in the Certificate Account~~ paid pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) ), Section 4.07 or Section ~~4.07~~4.08, (iv) any amount required to be paid pursuant to Section ~~9.01~~ 9.01, (v) any prepayment charges on the Mortgage Loans received during the related Prepayment Period, (vi) an amount equal to the Mortgage Insurance Premium Payable on such Distribution Date and (vvii) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) On or prior to the Business Day immediately following each Determination Date, the Master Servicer shall determine any amounts owed by the Yield Maintenance Agreement Provider under the Yield Maintenance Agreement and any amounts owed by the Swap Counterparty under the Swap Agreement and inform the Trustee, or the Supplemental Interest Trust Trustee, as applicable, in writing of the amount so calculated. In addition, on each Distribution Date, prior to making any other distributions referred to in Section 4.02 herein, the Trustee shall withdraw from the Certificate Account and pay to the Mortgage Insurance Policy Provider, by wire transfer of immediately available funds, the Mortgage Insurance Premium for such Distribution Date. (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the last Business Day ~~next~~ preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee ~~shall advance~~ advances funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RAAC Series 2007-Sp1 Trust)

Certificate Account. (a) The Master Servicer on behalf of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be ~~deposited~~ deposit ed in the Certificate Account pursuant to Section 3.16(e) or Section 4.07, (iv) any amount required to be paid pursuant to Section 9.01 and (v) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the ~~Certificate~~ Certifica te Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) any investment in the institution with which the Certificate Account is maintained may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. Subject to Section 3.16(e), all income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its ~~withdrawal~~ withdra wal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investments.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)

Certificate Account. (a) The ~~Master~~ Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the ~~Master~~ Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the ~~Certificate~~ Custodial Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section ~~3.16(e) or Section~~ 4.07, (iv) ~~any~~ the amount ~~required~~ by which the servicing compensation is reduced with respect to ~~be paid~~ the period ending on the immediately succeeding Distribution Date pursuant to Section ~~9.01~~ 3.16(e); and (v) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. (b) The Trustee shall, upon written request from the ~~Master~~ Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) any investment in the institution with which the Certificate Account is maintained may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the ~~Master~~ Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the ~~Master~~ Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Stanwich Asset Acceptance CO LLC)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) ), 4.07 or ~~Section 4.07~~4.08, (iv) any amount required to be paid pursuant to Section ~~9.01 and~~ 9.01, (v) ~~all~~ an amount equal to the Mortgage Insurance Premium payable on such Distribution Date and (vi) other amounts constituting ~~the~~ Available Distribution Amount for the immediately succeeding Distribution Date. (b) On each Distribution Date, prior to making any other distributions referred to in Section 4.02 herein, the Trustee shall withdraw from the Certificate Account and pay to the MI Policy Provider, by wire transfer of immediately available funds, the Mortgage Insurance Premium for such Distribution Date. (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investmentsrealized.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Asset Securities Corp)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)

Certificate Account. (a) The Master Servicer ~~on behalf~~ acting as agent of the Trustee shall establish and maintain a Certificate Account in which the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Section 3.12(a), (iii) any amount required to be deposited in the Certificate Account pursuant to Section 3.16(e) ), Section 4.07 or Section ~~4.07~~4.08, (iv) any amount required to be paid pursuant to Section 9.01 and (v) any prepayment charges on the Mortgage Loans received during the related Prepayment Period and (vi) all other amounts constituting the Available Distribution ~~Amount~~ Amounts for the immediately succeeding Distribution Date. In addition, the Master Servicer shall deposit or cause to be deposited on behalf of the Trustee on or before 2:00 P.M. New York time on the Certificate Account Deposit Date for the first Distribution Date an amount equal to $0.05. (b) On or prior to the Business Day immediately following each Determination Date, the Master Servicer shall determine any amounts owed by the Yield Maintenance Agreement Provider under the Yield Maintenance Agreements and inform the Trustee of the amount so calculated. (c) The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Certificate Account to invest the funds in the Certificate Account in Permitted Investments designated in the name of the Trustee for the benefit of the Certificateholders, which shall mature ~~or be payable on demand~~ not later than the Business Day next preceding the Distribution Date next following the date of such investment (except that (i) ~~any investment in~~ if such Permitted Investment is an obligation of the institution ~~with~~ that maintains such account or a fund for which ~~the Certificate Account is maintained~~ such institution serves as custodian, then such Permitted Investment may mature ~~or be payable on demand~~ on such Distribution Date and (ii) any other investment may mature ~~or be payable on demand~~ on such Distribution Date if the Trustee shall advance funds on such Distribution Date to the Certificate Account in the amount payable on such investment on such Distribution Date, pending receipt thereof to the extent necessary to make distributions on the Certificates) and shall not be sold or disposed of prior to maturity. ~~Subject to Section 3.16(e), all~~ All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Certificate Account by the Master Servicer out of its own funds immediately as ~~realized without any right of reimbursement~~realized. The Trustee or its Affiliates are permitted to receive compensation that could be deemed to be in the Trustee's economic self-interest for (i) serving as investment adviser (with respect to investments made through its Affiliates), administrator, shareholder servicing agent, custodian or sub-custodian with respect to certain of the Permitted Investments, (ii) using Affiliates to effect transactions in certain Permitted Investments and (iii) effecting transactions in certain Permitted Investments.. 101

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RAMP Series 2005-Sp2 Trust)

Common use of Certificate Account Clause in Contracts