Common use of Collection Account; Collection of Certain Mortgage Loan Payments Clause in Contracts

Collection Account; Collection of Certain Mortgage Loan Payments. (a) Subject to Article VI, from the date hereof until the principal and interest on the Mortgage Loans are paid in full, the Master Servicer shall proceed diligently to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall follow such collection procedures as it would follow with respect to mortgage loans comparable to the Mortgage Loans and held for other portfolios, except that to the extent that the Master Servicer does not service and administer similar mortgage loans for others, then the Master Servicer shall follow such collection procedures as it would follow with respect to its own portfolio, to the extent such procedures shall be consistent with this Agreement and, in connection with collections under any applicable insurance policy, the terms of such insurance policy required to be maintained with respect thereto, and in accordance with Accepted Servicing Practices. (b) On or before the Delivery Date, and as necessary thereafter, the Master Servicer shall establish, and hereby agrees to maintain for the duration of this Agreement, the Collection Account. The Collection Account shall be an Eligible Account. The Collection Account shall relate solely to collections with respect to Mortgage Loans, and funds in the Collection Account shall be held by the Master Servicer for the benefit of the Certificateholders and shall not be commingled with any other moneys. The Master Servicer shall deposit, within one Business Day following receipt, all collections with respect to the Mortgage Loans received by it into the Collection Account and the applicable subaccount of the Escrow Account pursuant to this Section 4.02(b) and pursuant to Section 4.06(a), respectively. The Master Servicer shall, within five (5) Business Days of the establishment thereof, notify the Trustee and the Special Servicer in writing of the location and account number thereof and shall give the Trustee and the Special Servicer written notice of any change of such location or account number on or prior to the date of such change. Funds in the Collection Account may be invested by, at the risk of, and for the benefit of, the Master Servicer in Permitted Investments which shall not be sold or disposed of prior to maturity. All such Permitted Investments shall be registered in the name of the Master Servicer (in its capacity as such and for the benefit of the Certificateholders) or its nominee. All income therefrom shall be the property of the Master Servicer. In addition, if the amounts in the Collection Account are invested for the benefit of the Master Servicer, the Master Servicer shall deposit into such account out of its own funds an amount representing any net losses realized on Permitted Investments with respect to funds in such account no later than the first Master Remittance Date after the occurrence of such loss. (c) The Master Servicer shall deposit the following amounts, without duplication, into the Collection Account: (i) all payments on account of principal, including amounts required to be deposited therein pursuant to Section 2.04 or Section 4.06(c)(iii) hereof, and Principal Prepayments, on the Mortgage Loans; (ii) all payments on account of interest (including default interest) on the Mortgage Loans (including amounts required to be deposited therein pursuant to Section 2.04 or Section 4.06(c)(iii) hereof); (iii) all Liquidation Proceeds, Excess Condemnation Proceeds and Excess Insurance Proceeds with respect to the Mortgaged Properties; (iv) out of such Master Servicer's own funds, an amount representing net losses realized on Permitted Investments with respect to funds in such Collection Account pursuant to Section 4.02(b); (v) any amounts representing Prepayment Premiums paid by the Mortgagors; (vi) any amounts received from the Special Servicer pursuant to Section 6.10(b); (vii) any other amounts received from the Mortgagors with respect to the Mortgage Loans; and (viii) any amounts received from the Special Servicer under Section 6.08 hereof; (1) REO Proceeds (except as provided in clause (viii)), (2) --------- amounts representing fees or late charge penalties or modification fees, assumption fees, extension fees, NSF check charges and similar fees and charges payable by Mortgagors with respect to the Mortgage Loans which are not Specially Serviced Mortgage Loans or REO Mortgage Loans, which may be retained by such Master Servicer as additional servicing compensation hereunder, (3) any amounts received from a Mortgagor to reimburse such Master Servicer, pursuant to the terms of the Mortgage Loan, for costs incurred in connection with the preparation of a Property Inspection Report, (4) Escrow Payments and (5) any fees payable to the related subservicer at the related Subservicing Fee Rate. (d) All funds deposited by the Master Servicer in the related Collection Account shall be held for the benefit of the Certificateholders until disbursed or withdrawn in accordance herewith. Except as expressly permitted or required hereunder, the Master Servicer shall not sell, transfer or assign to any Person any interest (including any security interest) in amounts credited or to be credited to the Collection Account or take any action towards that end, and shall maintain such amounts free of all liens, claims and encumbrances of any nature. (e) The Master Servicer shall, within one Business Day of receipt or discovery of receipt, remit to the Special Servicer for deposit in the related REO Account any REO Proceeds deposited into the Collection Account or any related Escrow Account.

Collection Account; Collection of Certain Mortgage Loan Payments. (a) Subject to Article VI, from the date hereof until the principal and interest on the Mortgage Loans are is paid in full, the Master Servicer shall proceed diligently to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall follow such collection procedures as it would follow with respect to mortgage loans comparable to the Mortgage Loans and held for other portfolios, except that to the extent that the Master Servicer does not service and administer similar mortgage loans for others, then the Master Servicer shall follow such collection procedures as it would follow with respect to its own portfolio, to the extent such procedures shall be consistent with this Agreement and, in connection with collections under any applicable insurance policy, the terms of such insurance policy required to be maintained with respect thereto, and are in accordance with Accepted Servicing Practices. (b) On or before the Delivery Date, Date and as necessary thereafter, the Master Servicer shall establish, and hereby agrees to maintain for the duration of this Agreement, the Collection AccountAccount in the name of the Trustee for the benefit of the Bondholders. The Collection Account shall be an Eligible Account. The Collection Account shall relate solely to collections with respect to Mortgage Loans, and funds Funds in the Collection Account shall be held by the Master Servicer for the benefit of the Certificateholders Bondholders in each case and shall not be commingled with any other moneys. The Master Servicer shall deposit, within one Business Day following receipt, all collections with respect to the Mortgage Loans received by it into the Collection Account and the applicable subaccount of the Escrow Account pursuant to this Section 4.02(b) and pursuant to Section 4.06(a), respectivelyAccount. The Master Servicer shall, within five (5) Business Days of the establishment thereof, notify the Trustee and the Special Servicer in writing of the location and account number thereof of the Collection Account established for the Mortgage Loans and shall give the Trustee and the Special Servicer written notice of any change of such location or account number on or prior to the date of such change. Funds in the Collection Account may be invested by, at the risk of, and for the benefit of, the Master Servicer in Permitted Investments which shall not be sold or disposed of prior to maturity. All such Permitted Investments shall be registered in the name of the Master Servicer (in its capacity as such and for the benefit of the CertificateholdersBondholders) or its nominee. All income therefrom shall be the property of the Master Servicer. In addition, if the amounts in the Collection Account are invested for the benefit of the Master Servicer, the Master Servicer shall deposit on each Determination Date into such account out of its own funds an amount representing any net losses realized on Permitted Investments with respect to funds in such account no later than the first Master for such Remittance Date after the occurrence of such lossPeriod. (c) The Master Servicer shall deposit the following amounts, without duplication, amounts into the Collection AccountAccount pursuant to clause (b) above: (i) all payments on account of principal, including amounts required to be deposited therein pursuant to Section 2.04 or Section 4.06(c)(iii) hereof, principal and Principal Prepayments, on the related Mortgage Loans; (ii) all payments on account of interest (on the related Mortgage Loans, including default interest) on interest net of any portion thereof retained by the Mortgage Loans (including amounts required to be deposited therein pursuant to Section 2.04 or Section 4.06(c)(iii) hereof)Master Servicer as its Servicing Fee; (iii) all Liquidation Proceeds, Excess Condemnation Proceeds and Excess Insurance Proceeds with respect to the related Mortgaged Properties; (iv) out of such the Master Servicer's own funds, an amount representing net losses realized on Permitted Investments with respect to funds in such the Collection Account pursuant to Section 4.02(b)Account; (v) any amounts representing Prepayment Premiums paid by the related Mortgagors; (vi) any amounts received from the Special Servicer pursuant to Section 6.10(b6.06(d); (vii) any other amounts received from the Mortgagors Mortgagor with respect to the related Mortgage Loans; and (viii) any amounts received from the Special Servicer under Section 6.08 6.07 hereof; , other than REO Proceeds; but excluding (1) REO Proceeds (except as provided in clause (viii)), which will be remitted to the Special Servicer for deposit into the REO Account within one Business Day after receipt and (2) --------- amounts representing fees or late charge penalties or modification fees, assumption fees, extension fees, NSF check charges and similar fees and charges payable by Mortgagors with respect to the Mortgage Loans which are not Specially Serviced Mortgage Loans or REO Mortgage Loans, which may be retained by such the Master Servicer or remitted to the Special Servicer, as applicable, as additional servicing compensation hereunder, (3) any amounts received from a Mortgagor to reimburse such Master Servicer, pursuant to the terms of the Mortgage Loan, for costs incurred in connection with the preparation of a Property Inspection Report, (4) Escrow Payments and (5) any fees payable to the related subservicer at the related Subservicing Fee Rate. (d) All Subject to Section 4.03(c), all funds deposited by the Master Servicer in the related Collection Account maintained for the benefit of the Bondholders shall be held for the benefit of the Certificateholders Bondholders until disbursed or withdrawn in accordance herewith. Except as expressly permitted or required hereunder, the Master Servicer shall not sell, transfer or assign to any Person any interest (including any security interest) in amounts credited or to be credited to the Collection Account or take any action towards that end, and shall maintain such amounts free of all liens, claims and encumbrances of any nature. (e) The Master Servicer shall, within one Business Day of receipt or discovery of receipt, remit to the Special Servicer for deposit in the related REO Account any REO Proceeds deposited into the Collection Account or any related Escrow Account.

Collection Account; Collection of Certain Mortgage Loan Payments. (a) Subject to Article VI, from the date hereof until the principal and interest on the Mortgage Loans are paid in full, the Master Servicer shall proceed diligently to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall follow such collection procedures as it would follow in accordance with respect to mortgage loans comparable to the Mortgage Loans and held for other portfolios, except that to the extent that the Accepted Master Servicer does not service and administer similar mortgage loans for others, then the Master Servicer shall follow such collection procedures as it would follow with respect to its own portfolioServicing Practices, to the extent such procedures shall be consistent with this Agreement and, in connection with collections under any applicable insurance policy, the terms of such insurance policy required to be maintained with respect thereto, and in accordance with Accepted Servicing Practices. (b) On or before the Delivery Date, and as necessary thereafter, the Master Servicer shall establish, and hereby agrees to maintain for the duration of this Agreement, the Collection Account. The Collection Account shall be an Eligible Account. The Collection Account shall relate solely to collections with respect to Mortgage Loans, and funds in the Collection Account shall be held by the Master Servicer for the benefit of the Certificateholders and shall not be commingled with any other moneys. The Master Servicer shall deposit, within one Business Day following receipt, all collections with respect to the Mortgage Loans received by it into the Collection Account and the applicable subaccount of the Escrow Account pursuant to this Section 4.02(b) and pursuant to Section 4.06(a), respectively. The Master Servicer shall, within five (5) Business Days of the establishment thereof, notify the Trustee and the Special Servicer in writing of the location and account number thereof and shall give the Trustee and the Special Servicer written notice of any change of such location or account number on or prior to the date of such change. Funds in the Collection Account may be invested by, at the risk of, and for the benefit of, the Master Servicer in Permitted Investments which shall not be sold or disposed of prior to maturity. All such Permitted Investments shall be registered in the name of the Master Servicer (in its capacity as such and for the benefit of the Certificateholders) or its nominee. All income therefrom shall may be the property of retained by the Master ServicerServicer as additional servicing compensation. In addition, if the amounts in the Collection Account are invested for the benefit of the Master Servicer, the Master Servicer shall deposit into such account out of its own funds an amount representing any net losses realized on Permitted Investments with respect to funds in such account no later than the first Master Remittance Date after the occurrence of such loss. (c) The Master Servicer shall deposit the following amounts, without duplication, into the Collection Account: (i) all payments on account of principal, including amounts required to be deposited therein pursuant to Section 2.04 or Section 4.06(c)(iii) hereof, and Principal Prepayments, on the Mortgage Loans; (ii) all payments on account of interest (including default interestExcess Interest and Default Interest) on the Mortgage Loans (including amounts required to be deposited therein pursuant to Section 2.04 or Section 4.06(c)(iii) hereof); (iii) all Liquidation Proceeds, Excess Condemnation Proceeds and Excess Insurance Proceeds with respect to the Mortgaged Properties; (iv) out of such Master Servicer's own funds, an amount representing net losses realized on Permitted Investments with respect to funds in such Collection Account pursuant to Section 4.02(b); (v) any amounts representing Prepayment Premiums paid by the Mortgagors; (vi) any amounts received from the Special Servicer pursuant to Section 6.10(b)Sections 6.05(b)(iii) and 6.07; (vii) any other amounts received from the Mortgagors with respect to the Mortgage Loans; and (viii) any amounts received from the Special Servicer under Section 6.08 hereof; (1) REO Proceeds (except as provided in clause (viii)), (2) --------- amounts representing fees or late charge penalties or modification fees, assumption fees, extension fees, NSF check charges and similar fees and charges payable by Mortgagors with respect to the Mortgage Loans which are not Specially Serviced Mortgage Loans or REO Mortgage Loans, which may be retained by such Master Servicer as additional servicing compensation hereunder, (3) any amounts received from a Mortgagor to reimburse such Master Servicer, pursuant to the terms of the Mortgage Loan, for costs incurred in connection with the preparation of a Property Inspection Report, (4) Escrow Payments and (5) any fees payable to the related subservicer at the related Subservicing Fee Rate. (d) All funds deposited by the Master Servicer in the related Collection Account shall be held for the benefit of the Certificateholders until disbursed or withdrawn in accordance herewith. Except as expressly permitted or required hereunder, the Master Servicer shall not sell, transfer or assign to any Person any interest (including any security interest) in amounts credited or to be credited to the Collection Account or take any action towards that end, and shall maintain such amounts free of all liens, claims and encumbrances of any nature. (e) The Master Servicer shall, within one Business Day of receipt or discovery of receipt, remit to the Special Servicer for deposit in the related REO Account any REO Proceeds deposited into the Collection Account or any related Escrow Account.

Collection Account; Collection of Certain Mortgage Loan Payments. (a) Subject to Article VI, from the date hereof until the principal and interest on the Mortgage Loans are paid in full, the Master Servicer shall proceed diligently to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall follow such collection procedures as it would follow in accordance with respect to mortgage loans comparable to the Mortgage Loans and held for other portfolios, except that to the extent that the Accepted Master Servicer does not service and administer similar mortgage loans for others, then the Master Servicer shall follow such collection procedures as it would follow with respect to its own portfolioServicing Practices, to the extent such procedures shall be consistent with this Agreement and, in connection with collections under any applicable insurance policy, the terms of such insurance policy required to be maintained with respect thereto, and in accordance with Accepted Servicing Practices. (b) On or before the Delivery Date, and as necessary thereafter, the Master Servicer shall establish, and hereby agrees to maintain for the duration of this Agreement, the Collection Account. The Collection Account shall be an Eligible Account. The Collection Account shall relate solely to collections with respect to Mortgage Loans, and funds in the Collection Account shall be held by the Master Servicer for the benefit of the Certificateholders and shall not be commingled with any other moneys. The Master Servicer shall deposit, within one Business Day following receipt, deposit daily all collections with respect to the Mortgage Loans received by it into the Collection Account and the applicable subaccount of the Escrow Account pursuant to this Section 4.02(b) and pursuant to Section 4.06(a), respectively. The Master Servicer shall, within five (5) Business Days of the establishment thereof, notify the Trustee and the Special Servicer in writing of the location and account number thereof and shall give the Trustee and the Special Servicer written notice of any change of such location or account number on or prior to the date of such change. Funds in the Collection Account may be invested by, at the risk of, and for the benefit of, the Master Servicer in Permitted Investments which shall not be sold or disposed of prior to maturity. All such Permitted Investments shall be registered in the name of the Master Servicer (in its capacity as such and for the benefit of the Certificateholders) or its nominee. All income therefrom shall may be the property of retained by the Master ServicerServicer as additional servicing compensation. In addition, if the amounts in the Collection Account are invested for the benefit of the Master Servicer, the Master Servicer shall deposit into such account out of its own funds an amount representing any net losses realized on Permitted Investments with respect to funds in such account no later than the first Master Remittance Date after the occurrence of such loss. (c) The Master Servicer shall deposit the following amounts, without duplication, into the Collection Account: (i) all payments on account of principal, including amounts required to be deposited therein pursuant to Section 2.04 or Section 4.06(c)(iii) hereof, and Principal Prepayments, on the Mortgage Loans; (ii) all payments on account of interest (including Excess Interest and default interest, except as provided below) on the Mortgage Loans (including amounts required to be deposited therein pursuant to Section 2.04 or Section 4.06(c)(iii) hereof); (iii) all Liquidation Proceeds, Excess Condemnation Proceeds and Excess Insurance Proceeds with respect to the Mortgaged Properties; (iv) out of such Master Servicer's own funds, an amount representing net losses realized on Permitted Investments with respect to funds in such Collection Account pursuant to Section 4.02(b); (v) any amounts representing Prepayment Premiums paid by the Mortgagors; (vi) any amounts received from the Special Servicer pursuant to Section 6.10(b)Sections 6.05(c) and 6.07; (vii) any other amounts received from the Mortgagors with respect to the Mortgage Loans; and; (viii) any amounts received from the Special Servicer under Section 6.08 hereof;; and (ix) any amounts received from the F/X Counterparty pursuant to the Foreign Currency Exchange Contract or exchanged by the Master Servicer pursuant to Section 4.03(a)(x). (1) REO Proceeds (except as provided in clause clauses (vi) and (viii)) above), (2) --------- amounts representing fees or fees, default interest, late charge penalties or (to the extent not used to pay interest at the Advance Rate on Advances for the related Mortgage Loan accrued during the Collection Period), modification fees, assumption fees (subject to Section 4.08(d)), processing fees, extension fees, NSF check charges and similar fees and charges payable by Mortgagors with respect to the Mortgage Loans which are not Specially Serviced Mortgage Loans or REO Mortgage Loans, which may be retained by such the Master Servicer (or the Special Servicer if received with respect to a Specially Serviced Mortgage Loan) as additional servicing compensation hereunder, hereunder (3) any amounts received from a Mortgagor to reimburse such Master Servicer, pursuant to the terms of the Mortgage Loan, for costs incurred in connection with the preparation of a Property Inspection Report, (4) Escrow Payments and (5) any fees provided that all NSF charges shall be payable to the related subservicer at the related Subservicing Fee Rate. (d) All funds deposited by the Master Servicer in the related Collection Account shall be held for the benefit of the Certificateholders until disbursed or withdrawn in accordance herewith. Except as expressly permitted or required hereunder, the Master Servicer shall not sell, transfer or assign to any Person any interest (including any security interest) in amounts credited or to be credited to the Collection Account or take any action towards that end, and shall maintain such amounts free of all liens, claims and encumbrances of any nature. (e) The Master Servicer shall, within one Business Day of receipt or discovery of receipt, remit to the Special Servicer for deposit in the related REO Account any REO Proceeds deposited into the Collection Account or any related Escrow Account.Servicer)

Collection Account; Collection of Certain Mortgage Loan Payments. (a) Subject to Article VI, from the date hereof until the principal and interest on the Mortgage Loans are paid in full, the Master Servicer shall proceed diligently to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall follow such collection procedures as it would follow in accordance with respect to mortgage loans comparable to the Mortgage Loans and held for other portfolios, except that to the extent that the Master Servicer does not service and administer similar mortgage loans for others, then the Master Servicer shall follow such collection procedures as it would follow with respect to its own portfolioAccepted Servicing Practices, to the extent such procedures shall be consistent with this Agreement and, in connection with collections under any applicable insurance policy, the terms of such insurance policy required to be maintained with respect thereto, and in accordance with Accepted Servicing Practices. (b) On or before the Delivery Date, and as necessary thereafter, the Master Servicer shall establish, and hereby agrees to maintain for the duration of this Agreement, the Collection Account. The Collection Account shall be an Eligible Account. The Collection Account shall relate solely to collections with respect to Mortgage Loans, and funds in the Collection Account shall be held by the Master Servicer for the benefit of the Certificateholders and shall not be commingled with any other moneys. The Master Servicer shall deposit, within one Business Day following receipt, all collections with respect to the Mortgage Loans received by it into the Collection Account and the applicable subaccount of the Escrow Account pursuant to this Section 4.02(b) and pursuant to Section 4.06(a), respectively. The Master Servicer shall, within five (5) Business Days of the establishment thereof, notify the Trustee and the Special Servicer in writing of the location and account number thereof and shall give the Trustee and the Special Servicer written notice of any change of such location or account number on or prior to the date of such change. Funds in the Collection Account may be invested by, at the risk of, and for the benefit of, the Master Servicer in Permitted Investments which shall not be sold or disposed of prior to maturity. All such Permitted Investments shall be registered in the name of the Master Servicer (in its capacity as such and for the benefit of the Certificateholders) or its nominee. All income therefrom shall be the property of the Master Servicer. In addition, if the amounts in the Collection Account are invested for the benefit of the Master Servicer, the Master Servicer shall deposit into such account out of its own funds an amount representing any net losses realized on Permitted Investments with respect to funds in such account no later than the first Master Remittance Date after the occurrence of such loss. (c) The Master Servicer shall deposit the following amounts, without duplication, into the Collection Account: (i) all payments on account of principal, including amounts required to be deposited therein pursuant to Section 2.04 or Section 4.06(c)(iii) hereof, and Principal Prepayments, on the Mortgage Loans; (ii) all payments on account of interest (including default interest) on the Mortgage Loans (including amounts required to be deposited therein pursuant to Section 2.04 or Section 4.06(c)(iii) hereof); (iii) all Liquidation Proceeds, Excess Condemnation Proceeds and Excess Insurance Proceeds with respect to the Mortgaged Properties; (iv) out of such Master Servicer's own funds, an amount representing net losses realized on Permitted Investments with respect to funds in such Collection Account pursuant to Section 4.02(b); (v) any amounts representing Prepayment Premiums paid by the Mortgagors; (vi) any amounts received from the Special Servicer pursuant to Section 6.10(b); (vii) any other amounts received from the Mortgagors with respect to the Mortgage Loans; and (viii) any amounts received from the Special Servicer under Section 6.08 hereof; (1) REO Proceeds (except as provided in clause (viii)), (2) --------- amounts representing fees or late charge penalties or modification fees, assumption fees, extension fees, NSF check charges and similar fees and charges payable by Mortgagors with respect to the Mortgage Loans which are not Specially Serviced Mortgage Loans or REO Mortgage Loans, which may be retained by such Master Servicer as additional servicing compensation hereunder, (3) any amounts received from a Mortgagor to reimburse such Master Servicer, pursuant to the terms of the Mortgage Loan, for costs incurred in connection with the preparation of a Property Inspection Report, Report and (4) Escrow Payments and (5) any fees payable to the related subservicer at the related Subservicing Fee RatePayments. (d) All funds deposited by the Master Servicer in the related Collection Account shall be held for the benefit of the Certificateholders until disbursed or withdrawn in accordance herewith. Except as expressly permitted or required hereunder, the Master Servicer shall not sell, transfer or assign to any Person any interest (including any security interest) in amounts credited or to be credited to the Collection Account or take any action towards that end, and shall maintain such amounts free of all liens, claims and encumbrances of any nature. (e) The Master Servicer shall, within one Business Day of receipt or discovery of receipt, remit to the Special Servicer for deposit in the related REO Account any REO Proceeds deposited into the Collection Account or any related Escrow Account.

Collection Account; Collection of Certain Mortgage Loan Payments. (a) Subject to Article VI, from the date hereof until the principal and interest on the Mortgage Loans are is paid in full, the Master Servicer shall proceed diligently to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall follow such collection procedures as it would follow with respect to mortgage loans comparable to the Mortgage Loans and held for other portfolios, except that to the extent that the Master Servicer does not service and administer similar mortgage loans for others, then the Master Servicer shall follow such collection procedures as it would follow with respect to its own portfolio, to the extent such procedures shall be consistent with this Agreement and, in connection with collections under any applicable insurance policy, the terms of such insurance policy required to be maintained with respect thereto, and are in accordance with Accepted Master Servicing Practices. (b) On or before the Delivery Date, Closing Date and as necessary thereafter, the Master Servicer shall establish, and hereby agrees to maintain for the duration of this Servicing Agreement, the Collection AccountAccount in the name of the Indenture Trustee for the benefit of the Bondholders. The Collection Account shall be an Eligible Account. The Collection Account shall relate solely to collections with respect to Mortgage Loans, and funds Funds in the Collection Account shall be held by the Master Servicer for the benefit of the Certificateholders Bondholders (and with respect to Prepayment Premiums, for the benefit of the Mortgage Loan Seller) in each case and shall not be commingled with any other moneys. The Master Servicer shall deposit, within one (1) Business Day following receipt, all collections as set forth in 4.02(c) below, with respect to the Mortgage Loans received by it into the Collection Account and the applicable subaccount of the Escrow Account pursuant to this Section 4.02(b) and pursuant to Section 4.06(a), respectivelyAccount. The Master Servicer shall, within five (5) Business Days of the establishment thereof, notify the Indenture Trustee and the Special Servicer in writing of the location and account number thereof of the Collection Account established for the Mortgage Loans and shall give the Indenture Trustee and the Special Servicer written notice of any change of such location or account number on or prior to the date of such change. Funds in the Collection Account may be invested by, at the risk of, and for the benefit of, the Master Servicer in Permitted Investments which shall not be sold or disposed of prior to maturity. All such Permitted Investments shall be registered in the name of the Master Servicer (in its capacity as such and for the benefit of the CertificateholdersBondholders) or its nominee. All income therefrom shall be the property of the Master Servicer. In addition, if the amounts in the Collection Account are invested for the benefit of the Master Servicer, the Master Servicer shall deposit on each Determination Date into such account out of its own funds an amount representing any net losses realized on Permitted Investments with respect to funds in such account no later than the first Master Remittance Date after the occurrence of for such lossCollection Period. (c) The Master Servicer shall deposit the following amounts, without duplication, amounts into the Collection AccountAccount pursuant to clause (b) above: (i) all payments on account of principal, including amounts required to be deposited therein pursuant to Section 2.04 or Section 4.06(c)(iii) hereof, principal and Principal Prepayments, on the related Mortgage Loans; (ii) all payments on account of interest (on the related Mortgage Loans, including default interest) interest (net of any portion thereof retained by the Master Servicer as its Servicing Fee or as reimbursement for interest on the Mortgage Loans (including amounts required to be deposited therein pursuant to Section 2.04 or Section 4.06(c)(iii) hereofAdvances); (iii) all Liquidation Proceeds, Excess Condemnation Proceeds and Excess Insurance Proceeds with respect to the related Mortgaged Properties; (iv) out of such the Master Servicer's own funds, an amount representing net losses realized on Permitted Investments with respect to funds in such the Collection Account pursuant to Section 4.02(b)Account; (v) any amounts representing Prepayment Premiums paid by the related Mortgagors; (vi) any amounts received from the Special Servicer pursuant to Section 6.10(b)6.06(d) of this Servicing Agreement; (vii) any other amounts received from the Mortgagors with respect to the related Mortgage Loans; andLoans (other than escrow or reserve payments, which shall be deposited into the appropriate escrow and reserve accounts); (viii) any amounts received from the Special Servicer under Section 6.08 hereof;6.07 of this Servicing Agreement, other than REO Proceeds; and (ix) any Advances received pursuant to Section 4.05 of this Servicing Agreement; but excluding REO Proceeds (which will be remitted to the Special Servicer for deposit into the REO Account within one (1) REO Proceeds Business Day after receipt) and penalties or fees for extensions, substitutions, assumptions or modifications or related activities and services, late payment charges (except as provided in clause (viii)to the extent not used to pay interest on Advances), late fees (2) --------- amounts representing fees or late charge penalties or modification fees, assumption fees, extension feesto the extent not used to pay interest on Advances), NSF check charges and similar fees and charges payable by Mortgagors with respect charges, default interest (to the Mortgage Loans extent not used to pay interest on Advances), Prepayment Interest Excess (to the extent not offset by Prepayment Interest Shortfalls) which are not Specially Serviced Mortgage Loans or REO Mortgage Loans, which penalties and fees may be retained by such the Master Servicer Servicer, or remitted to Special Servicer, as applicable, as additional servicing compensation hereunder, (3) any amounts received from a Mortgagor to reimburse such Master Servicer, pursuant to the terms of the Mortgage Loan, for costs incurred in connection with the preparation of a Property Inspection Report, (4) Escrow Payments and (5) any fees payable to the related subservicer at the related Subservicing Fee Ratecompensation. (d) All Subject to Section 4.03(c), all funds (excluding amounts representing Prepayment Premiums) deposited by the Master Servicer in the related Collection Account shall be held for the benefit of the Certificateholders Bondholders until disbursed or withdrawn in accordance herewith. Except as expressly permitted or required hereunder, the Master Servicer shall not sell, transfer or assign to any Person any interest (including any security interest) in amounts credited or to be credited to the Collection Account or take any action towards that end, and shall maintain such amounts free of all liens, claims and encumbrances of any nature. (e) The Master Servicer shall, within one Business Day of receipt or discovery of receipt, remit to the Special Servicer for deposit in the related REO Account any REO Proceeds deposited into the Collection Account or any related Escrow Account.