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

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Master Servicer shall use its best efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. The Master Servicer shall establish and maintain in the name of the Trustee one or more Collection Accounts (collectively, the "Collection Account"), in trust for the benefit of the Holders of the Certificates and the Certificate Insurer, one of which may be established and maintained with the Trustee (the "Trustee Collection Account"). The Master Servicer shall promptly provide notice to the Certificate Insurer, the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account, and one Collection Account may be maintained at the _______________. The Certificate Insurer, in its sole discretion, may direct the Master Servicer to close such Collection Account and to establish and maintain a replacement Collection Account that is an Eligible Account.

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Master Servicer shall use its best efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. The Master Servicer shall establish and maintain in the name of the Trustee one or more Collection Accounts (collectively, the "“Collection Account"”), in trust for the benefit of the Holders of the Certificates and the Certificate Insurer, one of which may be established and maintained with the Trustee (the "“Trustee Collection Account"”). The Master Servicer shall promptly provide notice to the Certificate Insurer, the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account, and one Collection Account may be maintained at the _______________. The Certificate Insurer, in its sole discretion, may direct the Master Servicer to close such Collection Account and to establish and maintain a replacement Collection Account that is an Eligible Account.

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Master Servicer shall use its best efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. The Master Servicer shall establish and maintain in the name of the Trustee one or more Collection Accounts (collectively, the "Collection Account"), in trust for the benefit of the Holders of the Certificates and the Certificate Insurer, one of which may be established and maintained with the Trustee (the "Trustee Collection Account"). The Master Servicer shall promptly provide notice to the Certificate Insurer, the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account, and one Collection Account may be maintained at the _______________Bank of the West. The Certificate Insurer, in its sole discretion, may direct the Master Servicer to close such Collection Account and to establish and maintain a replacement Collection Account that is an Eligible Account.

Collection of Certain Mortgage Loan Payments; Collection Account. (a) The Master Servicer shall use its best efforts to collect all payments called for under the terms and provisions of the Mortgage Loans, and shall, to the extent such procedures shall be consistent with this Agreement and any applicable primary mortgage insurance policy, follow such collection procedures as shall constitute Accepted Servicing Practices. The Master Servicer shall establish and maintain in the name of the Trustee one or more Collection Accounts (collectively, the "Collection Account"), in trust for the benefit of the Holders of the Certificates [and the Certificate Insurer], one of which may be established and maintained with the Trustee (the "Trustee Collection Account"). The Master Servicer shall promptly provide notice to [the Certificate Insurer, ,] the Trustee and each Rating Agency of any creation and establishment of a Collection Account hereunder. Each Collection Account shall be established and maintained as an Eligible Account, and one Collection Account may be maintained at the _______________. [The Certificate Insurer, in its sole discretion, may direct the Master Servicer to close such Collection Account and to establish and maintain a replacement Collection Account that is an Eligible Account.]