Common use of Collection of Monies Clause in Contracts

Collection of Monies. Except as otherwise expressly provided in this Agreement, the Securities Administrator and the Trustee, as applicable, may demand payment or delivery of, and shall receive and collect, all money and other property payable to or receivable by it pursuant to this Agreement. The Securities Administrator and the Trustee shall hold all such money and property received by it as part of the Trust Fund and shall distribute it as provided in this Agreement. If the Securities Administrator shall not have timely received amounts to be remitted with respect to the Mortgage Loans from the Master Servicer, the Securities Administrator shall request the Master Servicer to make such distribution as promptly as practicable or legally permitted. If the Trustee shall not have timely received amounts to be remitted with respect to the Mortgage Loans from the Securities Administrator, the Trustee shall request the Securities Administrator to make such distribution as promptly as practicable or legally permitted. If the Securities Administrator or the Trustee shall subsequently receive any such amounts, each may withdraw such request, respectively.

Collection of Monies. Except as otherwise expressly provided in this Agreement, the Securities Administrator and the Trustee, as applicable, Trustee may demand payment or delivery of, and shall receive and collect, all money and other property payable to or receivable by it pursuant to this Agreement. The Securities Administrator and the Trustee shall hold all such money and property received by it as part of the Trust Fund and shall distribute it as provided in this Agreement. If the Securities Administrator shall not have timely received amounts to be remitted with respect to the Mortgage Loans from the Master Servicer, the Securities Administrator shall request the Master Servicer to make such distribution as promptly as practicable or legally permitted. If the Trustee shall not have timely received amounts to be remitted with respect to the Mortgage Loans from the Securities Administrator, the Trustee shall request the Securities Administrator to make such distribution as promptly as practicable or legally permitted. If the Securities Administrator or the Trustee shall subsequently receive any such amounts, each may withdraw such request, respectively.