Common use of Control of the Trust Accounts Clause in Contracts

Control of the Trust Accounts. (a) The Depositor, the Issuer and the Indenture Trustee hereby appoint the Administrator as Securities Intermediary with respect to the Trust Accounts. The Issuer has, pursuant to the Indenture, granted to the Indenture Trustee, for the benefit of the Noteholders, a security interest to secure all amounts due Noteholders hereunder in and to the Note Payment Account and the Security Entitlements to all Financial Assets credited to the Trust Accounts, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Note Payment Account and all proceeds thereof, and the Depositor hereby grants to the Issuer, as collateral agent for the benefit of the Residual Holder, a security interest to secure all amounts due the Residual Holder hereunder in and to the Certificate Distribution Account and the Security Entitlements and all Financial Assets credited to the Certificate Distribution Account, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Certificate Distribution Account and all proceeds thereof. Amounts held from time to time in the Note Payment Account shall continue to be held by the Securities Intermediary for the benefit of the Indenture Trustee, as collateral agent, for the benefit of the Noteholders, and amounts held from time to time in the Certificate Distribution Account shall continue to be held by the Securities Intermediary for the benefit of the Issuer, as collateral agent, for the benefit of the Residual Holder. Upon the termination of the Issuer or the discharge of the Indenture, the Indenture Trustee shall inform the Securities Intermediary of such termination. By acceptance of their Securities or interests therein, the Securityholders shall be deemed to have appointed the Administrator as Securities Intermediary. The Administrator hereby accepts such appointment as Securities Intermediary.

Appears in 5 contracts

Samples: Transfer and Servicing Agreement (Aegis Asset Backed Securities Trust 2005-1), Transfer and Servicing Agreement (Aegis Asset Backed Securities Corp), Transfer and Servicing Agreement (Aegis Asset Backed Securities Corp)

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Control of the Trust Accounts. (a) The Depositor, the Issuer and the Indenture Trustee hereby appoint the Administrator Deutsche Bank National Trust Company as Securities Intermediary with respect to the Trust Accounts. The Accounts and the Certificate Account, and the Issuer has, pursuant to the Indenture, granted to the Indenture Trustee, for the benefit of the NoteholdersSecurityholders, a security interest to secure all amounts due Noteholders Securityholders hereunder in and to the Note Payment Account Trust Accounts and the Security Entitlements to all Financial Assets credited to the Trust Accounts, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Note Payment Account and all proceeds thereof, and the Depositor hereby grants to the Issuer, as collateral agent for the benefit of the Residual Holder, a security interest to secure all amounts due the Residual Holder hereunder in and to the Certificate Distribution Account and the Security Entitlements and all Financial Assets credited to the Certificate Distribution Account, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Certificate Distribution Account Trust Accounts and all proceeds thereof. Amounts held from time to time in the Note Payment Account shall Trust Accounts will continue to be held by the Securities Intermediary for the benefit of the Indenture Trustee, as collateral agent, for the benefit of the NoteholdersSecurityholders, and amounts held from time to time in the Certificate Distribution Account shall will continue to be held by the Securities Intermediary for the benefit of the Issuer, as collateral agent, for the benefit of the Residual HolderCertificateholders. Upon the termination of the Issuer or the discharge of the Indenture, the Indenture Trustee shall inform the Securities Intermediary of such termination. By acceptance of their Securities or interests therein, the Securityholders shall be deemed to have appointed the Administrator Deutsche Bank National Trust Company as Securities Intermediary. The Administrator Deutsche Bank National Trust Company hereby accepts such appointment as Securities Intermediary.;

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Greenwich Capital Acceptance Thornburg Sec Tr 2003-4), Sale and Servicing Agreement (Structured Asset Sec Corp Thornburg Mort Sec Trust 2003 6), Sale and Servicing Agreement (Thornburg Mortgage Inc)

Control of the Trust Accounts. (a) The Depositor, the Issuer and the Indenture Trustee hereby appoint the Administrator [_________] as Securities Intermediary with respect to the Trust Accounts. The , and the Issuer has, pursuant to the Indenture, granted to the Indenture Trustee, for the benefit of the NoteholdersSecurityholders and the Insurer, a security interest to secure all amounts due Noteholders Securityholders and the Insurer hereunder in and to the Note Payment Account Trust Accounts and the Security Entitlements to all Financial Assets credited to the Trust Accounts, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Note Payment Account Trust Accounts and all proceeds thereof, and the Depositor hereby grants to the Issuer, as collateral agent for the benefit of the Residual HolderCertificateholders, a security interest to secure all amounts due the Residual Holder Certificateholders hereunder in and to the Certificate Distribution Account and the Security Entitlements and all Financial Assets credited to the Certificate Distribution Account, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Certificate Distribution Account such account and all proceeds thereof. Amounts held from time to time in the Note Payment Account shall Trust Accounts will continue to be held by the Securities Intermediary for the benefit of the Indenture Trustee, as collateral agent, for the benefit of the NoteholdersSecurityholders and the Insurer, and amounts held from time to time in the Certificate Distribution Account shall will continue to be held by the Securities Intermediary for the benefit of the Issuer, as collateral agent, for the benefit of the Residual HolderCertificateholders. Upon the termination of the Issuer Trust or the discharge of the Indenture, the Indenture Trustee shall inform the Securities Intermediary of such termination. By acceptance of their Securities or interests therein, the Securityholders shall be deemed to have appointed the Administrator [_________] as Securities Intermediary. The Administrator Intermediary and [_________] hereby accepts such appointment as Securities Intermediary.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (Thornburg Mortgage Securities Corp), Transfer and Servicing Agreement (Structured Asset Securities Corp), Transfer and Servicing Agreement (Lehman Abs Corp)

Control of the Trust Accounts. (a) The Depositor, the Issuer and the Indenture Trustee hereby appoint the Administrator LaSalle Bank National Association as Securities Intermediary with respect to the Trust Accounts. The , and the Issuer has, pursuant to the Indenture, granted to the Indenture Trustee, for the benefit of the NoteholdersSecurityholders and the Insurer, a security interest to secure all amounts due Noteholders Securityholders and the Insurer hereunder in and to the Note Payment Account Trust Accounts and the Security Entitlements to all Financial Assets credited to the Trust Accounts, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Note Payment Account Trust Accounts and all proceeds thereof, and the Depositor hereby grants to the Issuer, as collateral agent for the benefit of the Residual HolderCertificateholders, a security interest to secure all amounts due the Residual Holder Certificateholders hereunder in and to the Certificate Distribution Account and the Security Entitlements and all Financial Assets credited to the Certificate Distribution Account, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Certificate Distribution Account such account and all proceeds thereof. Amounts held from time to time in the Note Payment Account shall Trust Accounts will continue to be held by the Securities Intermediary for the benefit of the Indenture Trustee, as collateral agent, for the benefit of the NoteholdersSecurityholders and the Insurer, and amounts held from time to time in the Certificate Distribution Account shall will continue to be held by the Securities Intermediary for the benefit of the Issuer, as collateral agent, for the benefit of the Residual HolderCertificateholders. Upon the termination of the Issuer Trust or the discharge of the Indenture, the Indenture Trustee shall inform the Securities Intermediary of such termination. By acceptance of their Securities or interests therein, the Securityholders shall be deemed to have appointed the Administrator LaSalle Bank National Association as Securities Intermediary. The Administrator Intermediary and LaSalle Bank National Association hereby accepts such appointment as Securities Intermediary.

Appears in 2 contracts

Samples: Transfer and Servicing Agreement (Lehman ABS Corp. Home Equity Loan Trust 2005-1), Transfer and Servicing Agreement (Greenpoint Mortgage Funding Trust 2005-He3)

Control of the Trust Accounts. (a) The Depositor, the Issuer and the Indenture Trustee hereby appoint the Administrator U.S. Bank National Association as Securities Intermediary with respect to the Trust Accounts. The Accounts and the Certificate Account, and the Issuer has, pursuant to the Indenture, granted to the Indenture Trustee, for the benefit of the NoteholdersSecurityholders, a security interest to secure all amounts due Noteholders Securityholders hereunder in and to the Note Payment Account Trust Accounts and the Security Entitlements to all Financial Assets credited to the Trust Accounts, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Note Payment Account Trust Accounts and all proceeds thereof, and the Depositor hereby grants to the Issuer, as collateral agent for the benefit of the Residual HolderCertificateholders, a security interest to secure all amounts due the Residual Holder Certificateholders hereunder in and to the Certificate Distribution Account and the Security Entitlements and all Financial Assets credited to the Certificate Distribution Account, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Certificate Distribution Account such account and all proceeds thereof. Amounts held from time to time in the Note Payment Account shall Trust Accounts will continue to be held by the Securities Intermediary for the benefit of the Indenture Trustee, as collateral agent, for the benefit of the NoteholdersSecurityholders, and amounts held from time to time in the Certificate Distribution Account shall will continue to be held by the Securities Intermediary for the benefit of the Issuer, as collateral agent, for the benefit of the Residual HolderCertificateholders. Upon the termination of the Issuer or the discharge of the Indenture, the Indenture Trustee shall inform the Securities Intermediary of such termination. By acceptance of their Securities or interests therein, the Securityholders shall be deemed to have appointed the Administrator U.S. Bank National Association as Securities Intermediary. The Administrator U.S. Bank National Association hereby accepts such appointment as Securities Intermediary.

Appears in 2 contracts

Samples: Custodial Agreement (SASCO Mortgage Loan Trust 2004-Gel3), Custodial Agreement (Sasco Mortgage Loan Trust Series 2003-Gel1)

Control of the Trust Accounts. (a) The Depositor, the Issuer and the Indenture Trustee hereby appoint the Trust Administrator as Securities Intermediary with respect to the Trust Accounts. The Accounts and the Certificate Account, and the Issuer has, pursuant to the Indenture, granted to the Indenture Trustee, for the benefit of the NoteholdersSecurityholders, a security interest to secure all amounts due Noteholders Securityholders hereunder in and to the Note Payment Account Trust Accounts and the Security Entitlements to all Financial Assets credited to the Trust Accounts, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Note Payment Account and all proceeds thereof, and the Depositor hereby grants to the Issuer, as collateral agent for the benefit of the Residual Holder, a security interest to secure all amounts due the Residual Holder hereunder in and to the Certificate Distribution Account and the Security Entitlements and all Financial Assets credited to the Certificate Distribution Account, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Certificate Distribution Account Trust Accounts and all proceeds thereof. Amounts held from time to time in the Note Payment Account shall Trust Accounts will continue to be held by the Securities Intermediary for the benefit of the Indenture Trustee, as collateral agent, for the benefit of the NoteholdersSecurityholders, and amounts held from time to time in the Certificate Distribution Account shall will continue to be held by the Securities Intermediary for the benefit of the Issuer, as collateral agent, for the benefit of the Residual HolderCertificateholders. Upon the termination of the Issuer or the discharge of the Indenture, the Indenture Trustee shall inform the Securities Intermediary of such termination. By acceptance of their Securities or interests therein, the Securityholders shall be deemed to have appointed the Trust Administrator as Securities Intermediary. The Trust Administrator hereby accepts such appointment as Securities Intermediary.;

Appears in 2 contracts

Samples: Sale and Servicing Agreement (New York Mortgage Trust 2005-2), Sale and Servicing Agreement (Greenwich Capital Acceptance, Inc New York Mortgage Trust 2005-1)

Control of the Trust Accounts. (a) The Depositor, the Issuer and the Indenture Trustee hereby appoint the Administrator [______________] as Securities Intermediary with respect to the Trust Accounts. The Accounts and the Certificate Account, and the Issuer has, pursuant to the Indenture, granted to the Indenture Trustee, for the benefit of the NoteholdersSecurityholders, a security interest to secure all amounts due Noteholders Securityholders hereunder in and to the Note Payment Account Trust Accounts and the Security Entitlements to all Financial Assets credited to the Trust Accounts, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Note Payment Account Trust Accounts and all proceeds thereof, and the Depositor hereby grants to the Issuer, as collateral agent for the benefit of the Residual HolderCertificateholders, a security interest to secure all amounts due the Residual Holder Certificateholders hereunder in and to the Certificate Distribution Account and the Security Entitlements and all Financial Assets credited to the Certificate Distribution Account, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Certificate Distribution Account such account and all proceeds thereof. Amounts held from time to time in the Note Payment Account shall Trust Accounts will continue to be held by the Securities Intermediary for the benefit of the Indenture Trustee, as collateral agent, for the benefit of the NoteholdersSecurityholders, and amounts held from time to time in the Certificate Distribution Account shall will continue to be held by the Securities Intermediary for the benefit of the Issuer, as collateral agent, for the benefit of the Residual HolderCertificateholders. Upon the termination of the Issuer or the discharge of the Indenture, the Indenture Trustee shall inform the Securities Intermediary of such termination. By acceptance of their Securities or interests therein, the Securityholders shall be deemed to have appointed the Administrator [___________________] as Securities Intermediary. The Administrator [__________________] hereby accepts such appointment as Securities Intermediary.

Appears in 2 contracts

Samples: Custodial Agreement (Structured Asset Securities Corp), Custodial Agreement (Structured Asset Securities Corp)

Control of the Trust Accounts. (a) The Depositor, the Issuer and the Indenture Trustee hereby appoint the Administrator as Securities Intermediary with respect to the Trust Accounts. The Issuer has, pursuant to the Indenture, granted to the Indenture Trustee, for the benefit of the Noteholders, a security interest to secure all amounts due Noteholders hereunder in and to the Note Payment Account and the Security Entitlements to all Financial Assets credited to the Trust Accounts, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Note Payment Account and all proceeds thereof, and the Depositor hereby grants to the Issuer, as collateral agent for the benefit of the Residual Holder, a security interest to secure all amounts due the Residual Holder hereunder in and to the Certificate Distribution Account and the Security Entitlements and all Financial Assets credited to the Certificate Distribution Account, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Certificate Distribution Account and all proceeds thereof. Amounts held from time to time in the Note Payment Account shall will continue to be held by the Securities Intermediary for the benefit of the Indenture Trustee, as collateral agent, for the benefit of the Noteholders, and amounts held from time to time in the Certificate Distribution Account shall will continue to be held by the Securities Intermediary for the benefit of the Issuer, as collateral agent, for the benefit of the Residual Holder. Upon the termination of the Issuer or the discharge of the Indenture, the Indenture Trustee shall inform the Securities Intermediary of such termination. By acceptance of their Securities or interests therein, the Securityholders shall be deemed to have appointed the Administrator as Securities Intermediary. The Administrator hereby accepts such appointment as Securities Intermediary.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (Aegis Asset Backed Securities Trust 2004-6)

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Control of the Trust Accounts. (a) The Depositor, the Issuer and the Indenture Trustee (is hereby directed to and does) hereby appoint the Administrator Xxxxx Fargo Bank, N.A., as Securities Intermediary with respect to each of the Trust Accounts. The , and the Issuer has, pursuant to the Indenture, granted to the Indenture Trustee, for the benefit of the Noteholders, a security interest to secure all amounts due Noteholders hereunder in and to the Note Payment Account Trust Accounts and the Security Entitlements to all Financial Assets credited to the Trust Accounts, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Note Payment Account and all proceeds thereof, and the Depositor hereby grants to the Issuer, as collateral agent for the benefit of the Residual Holder, a security interest to secure all amounts due the Residual Holder hereunder in and to the Certificate Distribution Account and the Security Entitlements and all Financial Assets credited to the Certificate Distribution Account, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Certificate Distribution Account Trust Accounts and all proceeds thereof. Amounts held from time to time in the Note Payment Account shall Trust Accounts will continue to be held by the Securities Intermediary for the benefit of the Indenture Trustee, as collateral agent, for the benefit of the Noteholders, and amounts held from time to time in the Certificate Distribution Account shall continue to be held by the Securities Intermediary for the benefit of the Issuer, as collateral agent, for the benefit of the Residual Holder. Upon the termination of the Issuer or the discharge of the Indenture, the Securities Administrator on behalf of the Indenture Trustee shall inform the Securities Intermediary of such termination. By acceptance of their Securities or interests therein, the Securityholders shall be deemed to have appointed the Administrator Xxxxx Fargo Bank N.A. as Securities Intermediary. The Administrator hereby Xxxxx Fargo Bank N.A. xxxxxx accepts such appointment as Securities Intermediary.;

Appears in 1 contract

Samples: Sale and Servicing Agreement (PHH Mortgage Trust, Series 2008-Cim1)

Control of the Trust Accounts. (a) The Depositor, the Issuer and the Indenture Trustee (at the direction of the Depositor and the Issuer) hereby appoint the Administrator as Securities Intermediary with respect to the Trust Accounts. The Issuer has, pursuant to the Indenture, granted to the Indenture Trustee, for the benefit of the Noteholders, a security interest to secure all amounts due Noteholders hereunder in and to the Note Payment Account and the Security Entitlements to all Financial Assets credited to the Trust Accounts, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Note Payment Account and all proceeds thereof, and the Depositor hereby grants to the Issuer, as collateral agent for the benefit of the Residual Holder, a security interest to secure all amounts due the Residual Holder hereunder in and to the Certificate Distribution Account and the Security Entitlements and all Financial Assets credited to the Certificate Distribution Account, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Certificate Distribution Account and all proceeds thereof. Amounts held from time to time in the Note Payment Account shall continue to be held by the Securities Intermediary for the benefit of the Indenture Trustee, as collateral agent, for the benefit of the Noteholders, and amounts held from time to time in the Certificate Distribution Account shall continue to be held by the Securities Intermediary for the benefit of the Issuer, as collateral agent, for the benefit of the Residual Holder. Upon the termination of the Issuer or the discharge of the Indenture, the Indenture Trustee shall inform the Securities Intermediary of such termination. By acceptance of their Securities or interests therein, the Securityholders shall be deemed to have appointed the Administrator as Securities Intermediary. The Administrator hereby accepts such appointment as Securities Intermediary.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (Aegis 2006-1)

Control of the Trust Accounts. (a) The Depositor, the Issuer and the Indenture Trustee hereby appoint the Administrator U.S. Bank National Association as Securities Intermediary with respect to the Trust Accounts. The , and the Issuer has, pursuant to the Indenture, granted to the Indenture Trustee, for the benefit of the NoteholdersSecurityholders and the Insurers, a security interest to secure all amounts due Noteholders Securityholders and the Insurers hereunder in and to the Note Payment Account Trust Accounts and the Security Entitlements to all Financial Assets credited to the Trust Accounts, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Note Payment Account Trust Accounts and all proceeds thereof, and the Depositor hereby grants to the Issuer, as collateral agent for the benefit of the Residual HolderCertificateholders, a security interest to secure all amounts due the Residual Holder Certificateholders hereunder in and to the Certificate Distribution Account and the Security Entitlements and all Financial Assets credited to the Certificate Distribution Account, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Certificate Distribution Account such account and all proceeds thereof. Amounts held from time to time in the Note Payment Account shall Trust Accounts will continue to be held by the Securities Intermediary for the benefit of the Indenture Trustee, as collateral agent, for the benefit of the NoteholdersSecurityholders and the Insurers, and amounts held from time to time in the Certificate Distribution Account shall will continue to be held by the Securities Intermediary for the benefit of the Issuer, as collateral agent, for the benefit of the Residual HolderCertificateholders. Upon the termination of the Issuer Trust or the discharge of the Indenture, the Indenture Trustee shall inform the Securities Intermediary of such termination. By acceptance of their Securities or interests therein, the Securityholders shall be deemed to have appointed the Administrator U.S. Bank National Association as Securities Intermediary. The Administrator Intermediary and U.S. Bank National Association hereby accepts such appointment as Securities Intermediary.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (Greenpoint Mortgage Funding Trust 2006-He1)

Control of the Trust Accounts. (a) The Depositor, the Issuer and the Indenture Trustee hereby appoint the Administrator JPMorgan Chase Bank as Securities Intermediary with respect to the Trust Accounts. The Accounts and the Certificate Account, and the Issuer has, pursuant to the Indenture, granted to the Indenture Trustee, for the benefit of the NoteholdersSecurityholders, a security interest to secure all amounts due Noteholders Securityholders hereunder in and to the Note Payment Account Trust Accounts and the Security Entitlements to all Financial Assets credited to the Trust Accounts, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Note Payment Account Trust Accounts and all proceeds thereof, and the Depositor hereby grants to the Issuer, as collateral agent for the benefit of the Residual HolderCertificateholders, a security interest to secure all amounts due the Residual Holder Certificateholders hereunder in and to the Certificate Distribution Account and the Security Entitlements and all Financial Assets credited to the Certificate Distribution Account, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Certificate Distribution Account such account and all proceeds thereof. Amounts held from time to time in the Note Payment Account shall Trust Accounts will continue to be held by the Securities Intermediary for the benefit of the Indenture Trustee, as collateral agent, for the benefit of the NoteholdersSecurityholders, and amounts held from time to time in the Certificate Distribution Account shall will continue to be held by the Securities Intermediary for the benefit of the Issuer, as collateral agent, for the benefit of the Residual HolderCertificateholders. Upon the termination of the Issuer or the discharge of the Indenture, the Indenture Trustee shall inform the Securities Intermediary of such termination. By acceptance of their Securities or interests therein, the Securityholders shall be deemed to have appointed the Administrator JPMorgan Chase Bank as Securities Intermediary. The Administrator JPMorgan Chase Bank hereby accepts such appointment as Securities Intermediary.

Appears in 1 contract

Samples: Custodial Agreement (Structured Asset Securities Corp Mort Back Notes Ser 2002 9)

Control of the Trust Accounts. (a) The Depositor, the Issuer and the Indenture Trustee hereby appoint the Administrator [ ] as Securities Intermediary with respect to the Trust Accounts. The , and the Issuer has, pursuant to the Indenture, granted to the Indenture Trustee, for the benefit of the NoteholdersSecurityholders and the Insurers, a security interest to secure all amounts due Noteholders Securityholders and the Insurers hereunder in and to the Note Payment Account Trust Accounts and the Security Entitlements to all Financial Assets credited to the Trust Accounts, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Note Payment Account Trust Accounts and all proceeds thereof, and the Depositor hereby grants to the Issuer, as collateral agent for the benefit of the Residual HolderCertificateholders, a security interest to secure all amounts due the Residual Holder Certificateholders hereunder in and to the Certificate Distribution Account and the Security Entitlements and all Financial Assets credited to the Certificate Distribution Account, including without limitation all amounts, securities, investments, Financial Assets, investment property and other property from time to time deposited in or credited to the Certificate Distribution Account such account and all proceeds thereof. Amounts held from time to time in the Note Payment Account shall Trust Accounts will continue to be held by the Securities Intermediary for the benefit of the Indenture Trustee, as collateral agent, for the benefit of the NoteholdersSecurityholders and the Insurers, and amounts held from time to time in the Certificate Distribution Account shall will continue to be held by the Securities Intermediary for the benefit of the Issuer, as collateral agent, for the benefit of the Residual HolderCertificateholders. Upon the termination of the Issuer Trust or the discharge of the Indenture, the Indenture Trustee shall inform the Securities Intermediary of such termination. By acceptance of their Securities or interests therein, the Securityholders shall be deemed to have appointed the Administrator [ ] as Securities Intermediary. The Administrator Intermediary and [ ] hereby accepts such appointment as Securities Intermediary.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Bond Securitization LLC)

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