Common use of Collection and Servicing Rights Clause in Contracts

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuing, the Borrowers shall be entitled to service and receive and collect directly all sums payable to the Borrowers in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence of any Event of Default, the Lender or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers in respect of the Collateral, and in such case (a) the Lender or its designee in its discretion may, in its own name, in the name of the Borrowers or otherwise, demand, sue xxx, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers shall, if the Lender so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender at its office designated by Notice hereunder, all amounts thereafter received by the Borrowers upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, and (c) all amounts so received and collected by the Lender shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuing, the Borrowers Company shall be entitled to service and receive and collect directly all sums payable to the Borrowers Company in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence of any Event of Default, the Lender or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers Company in respect of the Collateral, and in such case (a) the Lender or its designee in its discretion may, in its own name, in the name of the Borrowers Company or otherwise, demand, sue xxxxxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers Company shall, if the Lender so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender at its office designated by Notice hereunder, all amounts thereafter received by the Borrowers Company upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, and (c) all amounts so received and collected by the Lender shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuing, the Borrowers Company shall be entitled to service and receive and collect directly all sums payable to the Borrowers Company in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence of any Event of Default, the Lender or its designee design shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers Company in respect of the Collateral, and in such case (a) the Lender or its designee design in its discretion may, in its own name, in the name of the Borrowers Company or otherwise, demand, sue xxxsxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers Company shall, if the Lender so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender at its office designated by Notice hereunder, all amounts thereafter received by the Borrowers Company upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, and (c) all amounts so received and collected by the Lender shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuing, the Borrowers Company shall be entitled to service and receive and collect directly all sums payable to the Borrowers Company in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence of any Event of Default, the Lender or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers Company in respect of the Collateral, and in such case (a) the Lender or its designee in its discretion may, in its own name, name or in the name of the Borrowers Company or otherwise, demand, sue xxxxxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers Company shall, if the Lender so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender at its office designated by Notice hereunder, all amounts thereafter received by the Borrowers Company upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, and (c) all amounts so received and collected by the Lender shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be is continuing, the Borrowers Borrower shall be entitled have a revocable and nontransferable license to service and retain subservicers, and receive and collect directly all sums payable to the Borrowers Borrower in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following During the occurrence continuance of any Event of Default, the Lender Agent or its designee may revoke such license by notice to the Borrower (or its successor, trustee, or receiver) whereupon the Borrower's rights to so service the Collateral shall terminate. Agent or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers Borrower in respect of the Collateral, and in such case (a) the Lender Agent or its designee in its discretion may, in its own name, name or in the name of the Borrowers Borrower or otherwise, demand, sue xxxfor, collect or receive any money or property at any time payable or xx receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers Borrower shall, if the Lender Agent so requests, hold in trust forthwith deliver the credit files and the servicing files for the benefit of Collateral to the Lender Agent or its designee and forthwith pay to the Lender Agent, on behalf of the Lenders, at its principal office designated by Notice hereunder, all amounts thereafter received by the Borrowers Borrower upon or in respect of any of the Collateral, advising the Lender Agent as to the source of such funds, and (c) all amounts so received and collected by the Lender Agent shall be held by it for the benefit of the Lenders as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall ------------------------------- have occurred and be continuing, the Borrowers Company shall be entitled to service and receive and collect directly all sums payable to the Borrowers Company in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence of any Event of Default, the Lender or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers Company in respect of the Collateral, and in such case (a) the Lender or its designee in its discretion may, in its own name, in the name of the Borrowers Company or otherwise, demand, sue xxxxxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers Company shall, if the Lender so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender at its office designated by Notice hereunder, all amounts thereafter received by the Borrowers Company upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, and (c) all amounts so received and collected by the Lender shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default ------------------------------- shall have occurred and be continuing, the Borrowers shall be entitled to service and receive and collect directly all sums payable to the Borrowers in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence of any Event of Default, the Lender Credit Agent or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers in respect of the Collateral, and in such case (a) the Lender Credit Agent or its designee in its sole discretion may, in its own name, in the name of the Borrowers or otherwise, demand, sue xxxxxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers shall, if the Lender Credit Agent so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender Credit Agent at its office designated by Notice hereunder, all amounts thereafter received by the Borrowers upon or in respect of any of the Collateral, advising the Lender Credit Agent as to the source of such funds, and (c) all amounts so received and collected by the Lender Credit Agent shall be held by it in the Cash Collateral Account as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuing, the Borrowers Company shall be entitled to service and receive and collect directly all sums payable to the Borrowers Company in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence of any Event of Default, the Lender or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers Company in respect of the Collateral, and in such case (a) the Lender or its designee in its discretion may, in its own name, in the name of the Borrowers Company or otherwise, demand, sue xxxfor, collect or receive 49 xeceive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers Company shall, if the Lender so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender at its office designated by Notice hereunder, all amounts thereafter received by the Borrowers Company upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, and (c) all amounts so received and collected by the Lender shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of ------------------------------- Default shall have occurred and be continuing, the Borrowers shall be entitled to service and receive and collect directly all sums payable to the Borrowers in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence of any Event of Default, the Lender or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers in respect of the Collateral, and in such case (a) the Lender or its designee in its discretion may, in its own name, in the name of the Borrowers or otherwise, demand, sue xxxxxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers shall, if the Lender so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender at its office designated by Notice hereunder, all amounts thereafter received by the Borrowers upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, and (c) all amounts so received and collected by the Lender shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuing, the Borrowers Company shall be entitled to service and receive and collect directly all sums payable to the Borrowers Company in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence of any Event of Default, the Lender or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers Company in respect of the Collateral, and in such case (a) the Lender or its designee in its discretion may, in its own name, in the name of the Borrowers Company or otherwise, demand, sue xxxsux for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers Company shall, if the Lender so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender at its office designated by Notice hereunder, all amounts thereafter received by the Borrowers Company upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, and (c) all amounts so received and collected by the Lender shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuing, the Borrowers Company shall be entitled to service and receive and collect directly all sums payable to the Borrowers Company in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence of any Event of Default, the Lender Credit Agent or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers Company in respect of the Collateral, and in such case (a) the Lender Credit Agent or its designee in its sole discretion may, in its own name, in the name of the Borrowers Company or otherwise, demand, sue xxxfor, collect or receive any money or property at any time tixx payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers Company shall, if the Lender Credit Agent so requests, hold in trust for the benefit of the Lender Lenders and forthwith pay to the Lender Credit Agent at its office designated by Notice hereunder, all amounts thereafter received by the Borrowers Company upon or in respect of any of the Collateral, advising the Lender Credit Agent as to the source of such funds, and (c) all amounts so received and collected by the Lender Credit Agent shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuing, the Borrowers Company shall be entitled to service and receive and collect directly all sums payable to the Borrowers Company in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence of any Event of Default, the Lender or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers Company in respect of the Collateral, and in such case (a) the Lender or its designee in its discretion may, in its own name, in the name of the Borrowers Company or otherwise, demand, sue xxxxxx for, collect or 49 receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers Company shall, if the Lender so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender at its office designated by Notice hereunder, all amounts thereafter received by the Borrowers Company upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, and (c) all amounts so received and collected by the Lender shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuing, the Borrowers shall be entitled to service and receive and collect directly all sums payable to the Borrowers in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence of any Event of DefaultDefault and Notice thereof from the Lender to the Borrowers, the Lender or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers in respect of the Collateral, and in such case (a) the Lender or its designee in its discretion may, in its own name, in the name of the Borrowers or otherwise, demand, sue xxxxxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers shall, if the Lender so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender at its office designated by Notice hereunder, all amounts thereafter received by the Borrowers upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, and (c) all amounts so received and collected by the Lender shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuingoccurred, the Borrowers Company shall be entitled to service and service, receive and collect directly all sums payable to the Borrowers Company in respect of the Collateral other than Collateral, except amounts payable to the Company for the purchase by any Investor under a Purchase Commitment of any Mortgage Loans which are funded in whole or in part with the proceeds of any Purchase Commitment or proceeds Advance, which amounts shall be paid directly to the Bank. The Company shall direct each Investor to pay the amounts payable for the purchase of such Mortgage Loans directly to the sale of any CollateralBank. Following the occurrence of any Event of Default, the Lender or its designee Bank shall thereafter thereafter, upon written notice to the Company, be entitled to service and service, receive and collect all sums stuns payable to the Borrowers Company in respect of the Collateral, and in such case case: (a) the Lender or its designee Bank in its discretion may, in its own name, name or in the name of the Borrowers Company or otherwise, demand, sue xxxfor, collect or receive any money or property at any time payable or xx receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, ; (b) the Borrowers Company shall, if the Lender so Bank requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender Bank at its principal office designated by Notice hereunder, or such other place as the Bank may designate all amounts thereafter received by the Borrowers Company upon or in respect of or any of the Collateral, advising the Lender Bank as to the source of such funds, ; and (c) all amounts so received and collected by the Lender Bank shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as If no Event of Default shall have occurred and be continuingexists, the Borrowers shall be entitled to Borrower may service and receive and collect directly all sums payable to the Borrowers Borrower in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence All proceeds of any Purchase Commitment or any other sale of Collateral must be paid directly to the Cash Collateral Account for application as provided in this Agreement. After an Event of Default, the Lender or its designee shall thereafter be is entitled to service and receive and collect all sums payable to the Borrowers Borrower in respect of the Collateral, and in such case (a1) the Lender or its designee in its discretion may, in its own name, in the name of the Borrowers Borrower or otherwise, demand, sue xxxxxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under Lender has no obligation to do so, (b2) the Borrowers shallBorrower must, if the Lender so requestsrequests it to do so, hold in trust for the benefit of the Lender and forthwith immediately pay to the Lender at its office designated by Notice hereunderNotice, all amounts thereafter received by the Borrowers Borrower upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, those funds and (c3) all amounts so received and collected by the Lender shall will be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall ------------------------------- have occurred and be continuingoccurred, the Borrowers Company shall be entitled to service and service, receive and collect directly all sums payable to the Borrowers Company in respect of the Collateral other than Collateral, except amounts payable to the Company for the purchase by any Investor under a Purchase Commitment of any Mortgage Loans which are funded in whole or in part with the proceeds of any Purchase Commitment or proceeds Advance, which amounts shall be paid directly to the Lender. The Company shall direct each Investor to pay the amounts payable for the purchase of such Mortgage Loans directly to the sale of any CollateralLender. Following the occurrence of any Event of Default, the Lender or its designee shall thereafter be entitled to service and service, receive and collect all sums payable to the Borrowers Company in respect of the Collateral, and in such case (a) the Lender or its designee in its discretion may, in its own name, name or in the name of the Borrowers Company or otherwise, demand, sue xxxxxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers Company shall, if the Lender so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender at its principal office designated by Notice hereunder, or such other place as the Lender may designate all amounts thereafter received by the Borrowers Company upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, and (c) all amounts so received and collected by the Lender shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuingoccurred, the Borrowers Company shall be entitled to service and service, receive and collect directly all sums payable to the Borrowers Company in respect of the Collateral other than Collateral, except amounts payable to the Company for the purchase by any Investor under a Purchase Commitment of any Mortgage Loans which are funded in whole or in part with the proceeds of any Purchase Commitment or proceeds Advance, which amounts shall be paid directly to the Banks. The Company shall direct each Investor to pay the amounts payable for the purchase of such Mortgage Loans directly to the sale of any CollateralBanks. Following the occurrence of any Event of Default, the Lender or its designee Banks shall thereafter be entitled to service and service, receive and collect all sums payable to the Borrowers Company in respect of the Collateral, and in such case (a) the Lender or its designee Banks in its discretion may, in its their own name, name or in the name of the Borrowers Company or otherwise, demand, sue xxxxxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers Company shall, if the Lender Banks so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender Banks at its principal office designated by Notice hereunder, or such other place as the Banks may designate all amounts thereafter received by the Borrowers Company upon or in respect of any of the Collateral, advising the Lender Banks as to the source of such funds, and (c) all amounts so received and collected by the Lender Banks shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuingoccurred, the Borrowers Company shall be entitled have a revocable and nontransferable license to service and receive and collect directly all sums payable to the Borrowers Company in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence of any Event of Default, the Lender Agent or its designee may revoke such license by notice to the Company (or its successor, trustee, or receiver) whereupon the Company’s rights to so service the Collateral shall terminate. Agent or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers Company in respect of the Collateral, and in such case (a) the Lender Agent or its designee in its discretion may, in its own name, name or in the name of the Borrowers Company or otherwise, demand, sue xxxxxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers Company shall, if the Lender Agent so requests, hold in trust forthwith deliver the credit files and the servicing files for the benefit of Collateral to the Lender Agent or its designee and forthwith pay to the Lender Agent, on behalf of the Lenders, at its principal office designated by Notice hereunder, all amounts thereafter received by the Borrowers Company upon or in respect of any of the Collateral, advising the Lender Agent as to the source of such funds, and (c) all amounts so received and collected by the Lender Agent shall be held by it for the benefit of the Lenders as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuingcontinuing , the Borrowers Company shall be entitled to service and receive and collect directly all sums payable to the Borrowers Company in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence and during the continuance of any Event of Default, the Lender or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers Company in respect of the Collateral, and in such case (a) the Lender or its designee in its discretion may, in its own name, name or in the name of the Borrowers Company or otherwise, demand, sue xxxsxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers Company shall, if the Lender so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender at its principal office designated by Notice hereunder, all amounts thereafter received by the Borrowers Company upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, and (c) all amounts so received and collected by the Lender shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be is continuing, the Borrowers Borrower shall be entitled have a revocable and nontransferable license to service and retain subservicers, and receive and collect directly all sums payable to the Borrowers Borrower in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following During the occurrence continuance of any Event of Default, the Lender Agent or its designee may revoke such license by Notice to the Borrower (or its successor, trustee, or receiver) whereupon the Borrower’s rights to so service the Collateral shall terminate. Agent or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers Borrower in respect of the Collateral, and in such case (a) the Lender Agent or its designee in its discretion may, in its own name, name or in the name of the Borrowers Borrower or otherwise, demand, sue xxxxxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers Borrower shall, if the Lender Agent so requests, hold in trust forthwith deliver the credit files and the servicing files for the benefit of Collateral to the Lender Agent or its designee and forthwith pay to the Lender Agent, on behalf of the Lenders, at its principal office designated by Notice hereunder, all amounts thereafter received by the Borrowers Borrower upon or in respect of any of the Collateral, advising the Lender Agent as to the source of such funds, and (c) all amounts so received and collected by the Lender Agent shall be held by it for the benefit of the Lenders as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuing, the Borrowers Company shall be entitled to service and receive and collect directly all sums payable to the Borrowers Company in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence of any Event of Default, the Lender or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers Company in respect of the Collateral, and in such case (a) the Lender or its designee in its discretion may, in its own name, in the name of the Borrowers Company or otherwise, demand, sue xxxsux xor, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers Company shall, if the Lender so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender at its office designated by Notice hereunder, all amounts thereafter received by the Borrowers Company upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, and (c) all amounts so received and collected by the Lender shall be held by it as part of the Collateral.. 63

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be is continuing, the Borrowers Company shall be entitled to service and receive and collect directly all sums payable to the Borrowers Company in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following the occurrence of any Event of Default, the Lender or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers Company in respect of the Collateral, and in such case (a) the Lender or its designee in its discretion may, in its own name, name or in the name of the Borrowers Company or otherwise, demand, sue xxxxxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers Company shall, if the Lender so 90 requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender at its office designated by Notice hereunder, all amounts amount" thereafter received by the Borrowers Company upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, and (c) all amounts amount" so received and collected by the Lender shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuing, (a) The Company agrees that the Borrowers “Lock Box Terms” set forth on Exhibit F shall be entitled to service utilized by Company for the receiving, collecting, and receive and collect directly processing of all sums payable to the Borrowers Company in respect of the Collateral other than proceeds (the “Lock-box Terms”). Under that Lock-box Terms the Bank shall be entitled to receive all sums payable to the Company in respect of the Collateral. All amounts payable to the Company for the purchase by any Investor of any Purchase Commitment or proceeds Pledged Mortgage Loans shall also be paid directly to the Bank. The Company shall instruct each Pledged Mortgage Loan obligor to direct all payments due under the Pledged Mortgage Loans, and shall direct each Investor to pay the amounts payable for the purchase of such Pledged Mortgage Loans, directly to the sale of any CollateralLockbox address at the Bank. Without limiting the foregoing, Following the occurrence of any Event of Default, the Lender or its designee shall thereafter Bank may, at any time thereafter, upon written notice to the Company, be entitled to service and service, receive and collect all sums payable to the Borrowers Company in respect of the Collateral, and in such case case: (ai) the Lender or its designee Bank in its discretion may, in its own name, name or in the name of the Borrowers Company or otherwise, demand, sue xxxxxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers shall, if the Lender so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender at its office designated by Notice hereunder, all amounts thereafter received by the Borrowers upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, ; and (cii) all amounts so received and collected by the Lender Bank shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be continuing, the Borrowers Company shall be entitled to service and receive and collect directly all sums payable to the Borrowers Company in respect of the Collateral other than (a) proceeds of any Purchase Commitment or proceeds of the sale of any CollateralCollateral and (b) payments and prepayments on Pledged Mortgages required to be applied to prepay Advances under Section 2.5(f) hereof. Following the occurrence of any Event of Default, the Lender or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers Company in respect of the Collateral, and in such case (a) the Lender or its designee in its discretion may, in its own name, in the name of the Borrowers Company or otherwise, demand, sue xxx, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers Company shall, if the Lender so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender at its office designated by Notice hereunder, all amounts thereafter received by the Borrowers Company upon or in respect of any of the Collateral, advising the Lender as to the source of such funds, and (c) all amounts so received and collected by the Lender shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of ------------------------------- Default shall have occurred and be continuingoccurred, the Borrowers Company shall be entitled to service and service, receive and collect directly all sums payable to the Borrowers Company in respect of the Collateral other than Collateral, except amounts payable to the Company for the purchase by any Investor under a Purchase Commitment of any Mortgage Loans which are funded in whole or in part with the proceeds of any Purchase Commitment or proceeds Advance, which amounts shall he paid directly to the Bank. The Company shall direct each Investor to pay the amounts payable for the purchase of such Mortgage Loans directly to the sale of any CollateralBank. Following the occurrence of any Event of Default, the Lender or its designee Bank shall thereafter be he entitled to service and service, receive and collect all sums payable to the Borrowers Company in respect of the Collateral, and in such case (a) the Lender or its designee Bank in its discretion may, in its own name, name or in the name of the Borrowers Company or otherwise, demand, sue xxxxxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be he under no obligation to do so, (b) the Borrowers Company shall, if the Lender Bank so requests, hold in trust for the benefit of the Lender and forthwith pay to the Lender Bank at its principal office designated by Notice hereunder, or such other place as the Bank may designate all amounts thereafter received by the Borrowers Company upon or in respect of any of the Collateral, advising the Lender Bank as to the source of such funds, and (c) all amounts so received and collected by the Lender Bank shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred and be is continuing, the Borrowers Borrower shall be entitled have a revocable and nontransferable license to service and retain subservicers, and receive and collect directly all sums payable to the Borrowers Borrower in respect of the Collateral other than proceeds of any Purchase Commitment or proceeds of the sale of any Collateral. Following During the occurrence continuance of any Event of Default, the Lender Agent or its designee may revoke such license by Notice to the Borrower (or its successor, trustee, or receiver) whereupon the Borrower’s rights to so service the Collateral shall terminate. Agent or its designee shall thereafter be entitled to service and receive and collect all sums payable to the Borrowers Borrower in respect of the Collateral, and in such case (a) the Lender Agent or its designee in its discretion may, in its own name, name or in the name of the Borrowers Borrower or otherwise, demand, sue xxxsxx for, collect or receive any money or property at any time payable or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so, (b) the Borrowers Borrower shall, if the Lender Agent so requests, hold in trust forthwith deliver the credit files and the servicing files for the benefit of Collateral to the Lender Agent or its designee and forthwith pay to the Lender Agent, on behalf of the Lenders, at its principal office designated by Notice hereunder, all amounts thereafter received by the Borrowers Borrower upon or in respect of any of the Collateral, advising the Lender Agent as to the source of such funds, and (c) all amounts so received and collected by the Lender Agent shall be held by it for the benefit of the Lenders as part of the Collateral.