Common use of COLLECTION OF PAYMENTS WITH RESPECT TO THE MORTGAGE LOANS Clause in Contracts

COLLECTION OF PAYMENTS WITH RESPECT TO THE MORTGAGE LOANS. The Indenture Trustee shall establish and maintain with itself the Note 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 Servicer, each remittance received by the Indenture Trustee with respect to the Mortgage Loans. The Indenture Trustee shall distribute all payments of principal of and interest on the Notes, subject to Section 3.03 as provided in Section 3.05 herein from monies on deposit in the Note Payment Account.

COLLECTION OF PAYMENTS WITH RESPECT TO THE MORTGAGE LOANS. The Indenture Trustee shall establish and maintain with itself the Note 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 Servicer, each remittance received by the Indenture Trustee with respect to the Mortgage Loans. The Indenture Trustee shall distribute make all payments of principal of and interest on the Notes, subject to Section 3.03 3.03, as provided in Section 3.05 herein from monies on deposit in the Note Payment Account.

COLLECTION OF PAYMENTS WITH RESPECT TO THE MORTGAGE LOANS. The Indenture Trustee shall establish and maintain with itself the Note Payment Account in Account, into which the Indenture Trustee shall, subject to the terms of this paragraph, shall deposit, on each Payment Date, the same day as it is received from the Servicer, each remittance received by the Indenture Trustee with respect amounts required to the Mortgage Loansbe deposited therein pursuant to Section 3.05. The Indenture Trustee shall distribute make all payments of principal of and interest on the Notes, Notes (subject to Section 3.03 3.03) as provided in Section 3.05 herein from monies on deposit in the Note Payment Account.