Common use of Custodial Funds Accounts and Escrow Accounts Clause in Contracts

Custodial Funds Accounts and Escrow Accounts. The Company shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets. The Company shall create and maintain Custodial Funds Accounts and Escrow Accounts for the deposit of all funds, except as otherwise provided herein, received by the Company on the Mortgage Loans. The creation of the Custodial Funds Accounts and Escrow Accounts shall be evidenced by the Company by a certification in the form of Exhibit H-1 and H-2, respectively. A copy of such certification shall be delivered to the Owner no later than three (3) Business Days prior to the first Transfer Date.