Common use of Certificate-LT Account; Distributions Clause in Contracts

Certificate-LT Account; Distributions. On or before the issuance of the Lower Tier Interests, Xxxxxx Mae shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Lower Tier REMIC that shall collectively be the “Certificate-LT Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate-LT Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Mortgage Loans and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the Lower Tier Interests or (iii) maintain the Certificate-LT Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate-LT Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the Lower Tier Interests so long as funds held in the Lower Tier REMIC by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate-LT Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate-LT Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx shall deposit in the Certificate-LT Account all Mortgage Loan proceeds received by it as Trustee hereunder and under the Sale and Servicing Agreement or any other servicing contract or arrangement. All proceeds deposited from time to time in the Certificate- LT Account and all investments made with such moneys, including all income or other gain from such investments, shall be held by the Trustee in the Certificate-LT Account as part of the Lower Tier REMIC as herein provided, subject to withdrawal by the Trustee for the purposes set forth in Section 2.04.

Certificate-LT Account; Distributions. On or before the issuance of the Lower Tier Interests, Xxxxxx Mae Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Lower Tier REMIC that shall collectively be the “Certificate-LT Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate-LT Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Mortgage Loans and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the Lower Tier Interests or (iii) maintain the Certificate-LT Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate-LT Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the Lower Tier Interests so long as funds held in the Lower Tier REMIC by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate-LT Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate-LT Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx Mae shall deposit in the Certificate-LT Account all Mortgage Loan proceeds received by it as Trustee hereunder and under the Sale and Servicing Agreement or any other servicing contract or arrangement. All proceeds deposited from time to time in the Certificate- LT Account and all investments made with such moneys, including all income or other gain from such investments, shall be held by the Trustee in the Certificate-LT Account as part of the Lower Tier REMIC as herein provided, subject to withdrawal by the Trustee Xxxxxx Xxx for the purposes set forth in Section 2.04.

Certificate-LT Account; Distributions. On or before the issuance of the Lower Tier Interests, Xxxxxx Mae Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Lower Tier REMIC that shall collectively be the “Certificate-LT Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate-LT Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Mortgage Loans and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the Lower Tier Interests or (iii) maintain the Certificate-LT Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate-LT Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the Lower Tier Interests so long as funds held in the Lower Tier REMIC by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate-LT Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate-LT Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx Mae shall deposit in the Certificate-LT Account all Mortgage Loan proceeds received by it as Trustee hereunder and under the Sale and Servicing Agreement or any other servicing contract or arrangement. All proceeds deposited from time to time in the Certificate- LT Account and all investments made with such moneys, including all income or other gain from such investments, shall be held by the Trustee in the Certificate-LT Account as part of the Lower Tier REMIC as herein provided, subject to withdrawal by the Trustee Xxxxxx Xxx for the purposes set forth in Section 2.044.06.

Certificate-LT Account; Distributions. On or before the issuance of the Lower Tier Interests, Xxxxxx Mae shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Lower Tier REMIC that shall collectively be the “Certificate-LT Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate-LT Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Mortgage Loans and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the Lower Tier Interests or (iii) maintain the Certificate-LT Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate-LT Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the Lower Tier Interests so long as funds held in the Lower Tier REMIC by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate-LT Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate-LT Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx shall deposit in the Certificate-LT Account all Mortgage Loan proceeds received by it as Trustee hereunder and under the Sale and Servicing Agreement or any other servicing contract or arrangement. All proceeds deposited from time to time in the Certificate- Certificate-LT Account and all investments made with such moneys, including all income or other gain from such investments, shall be held by the Trustee in the Certificate-LT Account as part of the Lower Tier REMIC as herein provided, subject to withdrawal by the Trustee Xxxxxx Mae for the purposes set forth in Section 2.044.06.

Certificate-LT Account; Distributions. On or before the issuance of the Lower Tier Interests, Xxxxxx Mae Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Lower Tier REMIC that shall collectively be the “Certificate-LT Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate-LT Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Mortgage Loans and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the Lower Tier Interests or (iii) maintain the Certificate-LT Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate-LT Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the Lower Tier Interests so long as funds held in the Lower Tier REMIC by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate-LT Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate-LT Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx Mae shall deposit in the Certificate-LT Account all Mortgage Loan proceeds received by it as Trustee hereunder and under the Sale and Servicing Agreement or any other servicing contract or arrangement. All proceeds deposited from time to time in the Certificate- LT Account and all investments made with such moneys, including all income or other gain from such investments, shall be held by the Trustee in the Certificate-LT Account as part of the Lower Tier REMIC as herein provided, subject to withdrawal by the Trustee Xxxxxx Xxx for the purposes set forth in Section 2.044.09.

Certificate-LT Account; Distributions. On or before the issuance of the Lower Tier Interests, Xxxxxx Mae shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Lower Tier REMIC that shall collectively be the “Certificate-LT Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate-LT Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Mortgage Loans and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the Lower Tier Interests or (iii) maintain the Certificate-LT Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate-LT Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the Lower Tier Interests so long as funds held in the Lower Tier REMIC by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate-LT Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate-LT Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx shall deposit in the Certificate-LT Account all Mortgage Loan proceeds received by it as Trustee hereunder and under the Sale and Servicing Agreement or any other servicing contract or arrangement. All proceeds deposited from time to time in the Certificate- LT Account and all investments made with such moneys, including all income or other gain from such investments, shall be held by the Trustee in the Certificate-LT Account as part of the Lower Tier REMIC as herein provided, subject to withdrawal by the Trustee Xxxxxx Mae for the purposes set forth in Section 2.044.06.

Certificate-LT Account; Distributions. On or before the issuance of the Lower Tier Interests, Xxxxxx Mae Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Lower Tier REMIC that shall collectively be the “Certificate-LT Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate-LT Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Mortgage Loans and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the Lower Tier Interests or (iii) maintain the Certificate-Certificate- LT Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate-LT Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the Lower Tier Interests so long as funds held in the Lower Tier REMIC by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate-LT Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate-LT Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx Mae shall deposit in the Certificate-LT Account all Mortgage Loan proceeds received by it as Trustee hereunder and under the Sale and Servicing Agreement or any other servicing contract or arrangement. All proceeds deposited from time to time in the Certificate- LT Account and all investments made with such moneys, including all income or other gain from such investments, shall be held by the Trustee in the Certificate-LT Account as part of the Lower Tier REMIC as herein provided, subject to withdrawal by the Trustee Xxxxxx Xxx for the purposes set forth in Section 2.044.9.