Collection of Payments on Mortgage Loan Accounts. The Indenture Trustee shall establish and maintain with itself a trust account (the "Payment Account") in which the Indenture Trustee shall, subject to the terms of this paragraph, deposit, on the same day as it is received from the Master Servicer, each remittance received by the Indenture Trustee with respect to the Mortgage Loans. The Indenture Trustee shall make all payments of principal of and interest on the Notes, subject to Section 3.03 as provided in Section 3.05 herein from moneys on deposit in the Payment Account.
Appears in 7 contracts
Samples: Indenture (Cwabs Inc), Indenture (Morgan Stanley Abs Capital I Inc), J P Morgan Acceptance Corp I
