Custodial Accounts; Distribution Account. (a) On or prior to the Closing Date, the Master Servicer shall have caused each Servicer to establish and maintain one or more Custodial Accounts, as provided in the related Purchase and Servicing Agreement, into which all Scheduled Payments and unscheduled payments with respect to the related Mortgage Loans, net of any deductions or reimbursements permitted under the related Purchase and Servicing Agreement, shall be deposited. On each Distribution Account Deposit Date, the Servicers shall remit to the Securities Administrator for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the related Purchase and Servicing Agreements.
Custodial Accounts; Distribution Account. 56 Section 4.02 Permitted Withdrawals from the Custodial Accounts and the Distribution Account.................58 Section 4.03 [Reserved].....................................................................................59 Section 4.04 [Reserved].....................................................................................59 Section 4.05 Reports to Trustee and Certificateholders......................................................59
Custodial Accounts; Distribution Account. (a) The Master Servicer shall enforce the obligations of each Servicer to establish and maintain one or more Custodial Accounts, as provided in the related Purchase and Servicing Agreement or Servicing Agreement, as applicable, into which all Scheduled Payments and unscheduled payments with respect to the related Mortgage Loans, net of any deductions or reimbursements permitted under the related Purchase and Servicing Agreement, shall be deposited. On each Distribution Account Deposit Date, the Servicers shall remit to the Securities Administrator for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the related Purchase and Servicing Agreements or Servicing Agreement, as applicable.
Custodial Accounts; Distribution Account. (a) On or prior to the Closing Date, the Master Servicer shall have caused the Servicers to establish and maintain one or more Custodial Accounts, as provided in the related Servicing Agreements, into which all Scheduled Payments and unscheduled payments with respect to the Mortgage Loans, net of any deductions or reimbursements permitted under the related Servicing Agreement, shall be deposited. On each Distribution Account Deposit Date, the Servicers shall remit to the Securities Administrator for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the related Servicing Agreement.
Custodial Accounts; Distribution Account. (a) On or prior to the Closing Date, each Servicer will be required to establish and maintain one or more Custodial Accounts, as provided in the related Servicing Agreements, into which all Scheduled Payments and unscheduled payments with respect to the Mortgage Loans, net of any deductions or reimbursements permitted under the related Servicing Agreement, shall be deposited. On each Servicer Remittance Date, the Servicers will remit to the Securities Administrator, for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the related Servicing Agreement.
Custodial Accounts; Distribution Account. (a) On or prior to the Closing Date, the Servicer shall establish and maintain one or more Custodial Accounts, as provided in the Servicing Agreement, into which all Scheduled Payments and unscheduled payments with respect to the Mortgage Loans, net of any deductions or reimbursements permitted under the Servicing Agreement, shall be deposited. Prior to 1:00 p.m. New York City time on each Distribution Account Deposit Date, the Servicer shall remit to the Trustee for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the Servicing Agreement.
Custodial Accounts; Distribution Account. 74 Section 4.02 Reports to Trustee and Certificateholders....................................... 75
Custodial Accounts; Distribution Account. (a) On each Distribution Account Deposit Date, the Servicer shall remit to the Trustee for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the Servicing Agreements.
Custodial Accounts; Distribution Account. 66 Section 4.02 The Pre-Funding Accounts............................................. 67 Section 4.03 The Capitalized Interest Account..................................... 69 Section 4.04. Reports to Trustee and Certificateholders............................ 69
Custodial Accounts; Distribution Account. (a) On or prior to the Closing Date, the Master Servicer shall have caused each Servicer other than WMMSC to establish and maintain one or more Custodial Accounts, as provided in the related Purchase and Servicing Agreement, into which all Scheduled Payments and unscheduled payments with respect to the related Mortgage Loans, net of any deductions or reimbursements permitted under the related Purchase and Servicing Agreement, shall be deposited. On or prior to the Closing Date, WMMSC shall establish and maintain one or more Custodial Accounts, as provided in the related Purchase and Servicing Agreement, into which all Scheduled Payments and unscheduled payments with respect to the WMMSC Serviced Mortgage Loans, net of any deductions or reimbursements permitted under the related Purchase and Servicing Agreements, shall be deposited. One of the Custodial Accounts established by WMMSC shall be an Investment Account. On each Distribution Account Deposit Date, the Servicers shall remit to the Securities Administrator for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the related Purchase and Servicing Agreements.
