Collateral Shortfalls. In the event that amounts on deposit in the Collateral Account at any time are insufficient to cover any withdrawals therefrom that the Master Servicer is then entitled to make hereunder, the Directing Holder shall be obligated to pay such amounts to the Master Servicer immediately upon demand. Such obligation shall constitute a general obligation of the Directing Holder.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Mor Pa THR Cert Se 1997 Hud2), Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Mort Pa THR Cert Ser 1998-Wfc1), Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Mor Pa THR Cert Se 1997 Hud-1)
Collateral Shortfalls. In the event that amounts on deposit in the Collateral Account at any time are insufficient to cover any withdrawals therefrom that the Master Servicer is then entitled to make hereunder, the Directing Holder shall be obligated to pay such amounts to the Master Servicer immediately upon demand. Such obligation shall constitute a general obligation of the Directing Holder.
Appears in 2 contracts
Samples: Servicing Agreement (Salomon Br Mor Sec Vii Inc Series 1998-11), Servicing Agreement (Salomon Br Mor Sec Vii Inc Series 1998-11)
