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 in the corporate trust department of itself or an affiliate depository institution, 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 Bonds, subject to Section 3.03 as provided in Section 3.05 herein from monies on deposit in the Payment Account.

COLLECTION OF PAYMENTS WITH RESPECT TO THE MORTGAGE LOANS. The Indenture Trustee shall establish and maintain in the corporate trust department of itself or an affiliate depository institution, 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 BondsNotes, subject to Section 3.03 as provided in Section 3.05 herein from monies on deposit in the Payment Account.

COLLECTION OF PAYMENTS WITH RESPECT TO THE MORTGAGE LOANS. The Indenture Trustee shall establish and maintain in [the corporate trust department of itself or an affiliate depository institution], a trust account (the "Payment Note Distribution 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 BondsNotes, subject to Section 3.03 as provided in Section 3.05 8.02 herein from monies on deposit in the Payment Note Distribution Account.