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.
Appears in 22 contracts
Samples: Trust Agreement (Sasco 2007-Eq1), Trust Agreement (Structured Asset Investment Loan Trust 2006-Bnc1), Trust Agreement (Structured Asset Securities CORP Mortgage Loan Trust 2007-Bc3)
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.
Appears in 3 contracts
Samples: Trust Agreement (Structured Asset Securities Corp 2005-Wf4), Trust Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2005-Wf2), Trust Agreement (SASCO Mortgage Loan Trust 2005-Wf3)
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.. 125
Appears in 1 contract
Samples: Trust Agreement (Sasco 2006-Bc2)