Common use of Documents, Records and Funds in Possession Clause in Contracts

Documents, Records and Funds in Possession. of Subservicer to be Held for the Trustee. All Mortgage Files and funds collected or held by, or under the control of, the Subservicer in respect of any Mortgage Loans, whether from the collection of principal and interest payments or from Liquidation Proceeds, including but not limited to, any funds on deposit in the Collection Account, shall be held by the Subservicer for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Trustee, subject to the applicable provisions of this Agreement. The Subservicer also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the Collection Account, the Certificate Account or Distribution Account or in any Escrow Account (as defined in Section 3.06), or any funds that otherwise are or may become due or payable to the Trustee for the benefit of the Certificateholders, to any claim, lien, security interest, judgment, levy, writ of attachment or other encumbrance, or assert by legal action or otherwise any claim or right of set off against any Mortgage File or any funds collected on, or in connection with, a Mortgage Loan, except, however, that the Subservicer shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Subservicer under this Agreement.

Documents, Records and Funds in Possession. of Subservicer the Servicers to be Be Held for the Trustee. Each Servicer shall account fully to the Trustee for any funds received by such Servicer or which otherwise are collected by such Servicer as Liquidation Proceeds, Condemnation Proceeds or Insurance Proceeds in respect of any Mortgage Loan serviced by such Servicer. All Mortgage Files and funds collected or held by, or under the control of, the Subservicer a Servicer in respect of any Mortgage Loans, whether from the collection of principal and interest payments or from Liquidation Proceeds, including including, but not limited to, any funds on deposit in the its Collection Account, shall be held by the Subservicer such Servicer for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Trustee, subject to the applicable provisions of this Agreement. The Subservicer Each Servicer also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the any Collection Account, the Certificate Account or Distribution Account or in any Escrow Account (as defined in Section 3.06)Account, or any funds that otherwise are or may become due or payable to the Trustee for the benefit of the Certificateholders, to any claim, lien, security interest, judgment, levy, writ of attachment or other encumbrance, or assert by legal action or otherwise any claim or right of set off setoff against any Mortgage File or any funds collected on, or in connection with, a Mortgage Loan, except, however, that the Subservicer such Servicer shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Subservicer such Servicer under this Agreement.

Documents, Records and Funds in Possession. of Subservicer the Master Servicer to be Held for the Trustee. The Master Servicer shall account fully to the Trustee for any funds received by the Master Servicer or which otherwise are collected by the Master Servicer as Liquidation Proceeds or Insurance Proceeds in respect of any Mortgage Loan. All Mortgage Files and funds collected or held by, or under the control of, the Subservicer Master Servicer in respect of any Mortgage Loans, whether from the collection of principal and interest payments or from Liquidation Proceeds, including but not limited to, any funds on deposit in the Collection Certificate Account, shall be held by the Subservicer Master Servicer for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Trustee, subject to the applicable provisions of this Agreement. The Subservicer Master Servicer also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the Certificate Account, the Collection Account, the Certificate Account or Distribution Account or in any Escrow Account (as defined in Section 3.06)Account, or any funds that otherwise are or may become due or payable to the Trustee for the benefit of the Certificateholders, to any claim, lien, security interest, judgment, levy, writ of attachment or other encumbrance, or assert by legal action or otherwise any claim or right of set off setoff against any Mortgage File or any funds collected on, or in connection with, a Mortgage Loan, except, however, that the Subservicer Master Servicer shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Subservicer Master Servicer under this Agreement.

Documents, Records and Funds in Possession. of Subservicer the Servicers to be Be Held for the Securities Administrator for the Benefit of the Trustee. Each Servicer shall account fully to the Securities Administrator on behalf of the Trustee for any funds received by such Servicer or which otherwise are collected by such Servicer as Liquidation Proceeds, Condemnation Proceeds or Insurance Proceeds in respect of any Mortgage Loan. All Mortgage Files and funds collected or held by, or under the control of, the Subservicer a Servicer in respect of any Mortgage Loans, whether from the collection of principal and interest payments or from Liquidation Proceeds, including including, but not limited to, any funds on deposit in the Collection Account, shall be held by the Subservicer such Servicer for and on behalf of the Trustee on behalf of the Certificateholders and shall be and remain the sole and exclusive property of the Trustee, subject to the applicable provisions of this Agreement. The Subservicer Each Servicer also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the Collection Account, the Certificate Account or Distribution Account or in any Escrow Account (as defined in Section 3.06)Account, or any funds that otherwise are or may become due or payable to the Securities Administrator on behalf of the Trustee for the benefit of the Certificateholders, to any claim, lien, security interest, judgment, levy, writ of attachment or other encumbrance, or assert by legal action or otherwise any claim or right of set off setoff against any Mortgage File or any funds collected on, or in connection with, a Mortgage Loan, except, however, that the Subservicer such Servicer shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Subservicer such Servicer under this Agreement.

Documents, Records and Funds in Possession. of Subservicer the Servicer to be Held for the Trustee. The Servicer shall account fully to the Trustee for any funds it receives or otherwise collects as Liquidation Proceeds or Insurance Proceeds in respect of any Mortgage Loan. All Mortgage Files and funds collected or held by, or under the control of, the Subservicer Servicer in respect of any Mortgage Loans, whether from the collection of principal and interest payments or from Liquidation Proceeds, including but not limited to, any funds on deposit in the Collection Certificate Account, shall be held by the Subservicer Servicer for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Trustee, subject to the applicable provisions of this Agreement. The Subservicer Servicer also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the Collection Certificate Account, the Certificate Account Distribution Account, or Distribution Account or in any Escrow Account (as defined in Section 3.06)Account, or any funds that otherwise are or may become due or payable to the Trustee for the benefit of the Certificateholders, to any claim, lien, security interest, judgment, levy, writ of attachment attachment, or other encumbrance, or assert by legal action or otherwise any claim or right of set off setoff against any Mortgage File or any funds collected on, or in connection with, a Mortgage Loan, except, however, that the Subservicer Servicer shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Subservicer Servicer under this Agreement.

Documents, Records and Funds in Possession. of Subservicer the ------------------------------------------------- Master Servicer to be Held for the Trustee. ------------------------------------------ The Master Servicer shall account fully to the Trustee for any funds received by the Master Servicer or which otherwise are collected by the Master Servicer as Liquidation Proceeds or Insurance Proceeds in respect of any Mortgage Loan. All Mortgage Files and funds collected or held by, or under the control of, the Subservicer Master Servicer in respect of any Mortgage Loans, whether from the collection of principal and interest payments or from Liquidation Proceeds, including but not limited to, any funds on deposit in the Collection Certificate Account, shall be held by the Subservicer Master Servicer for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Trustee, subject to the applicable provisions of this Agreement. The Subservicer Master Servicer also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the Collection Certificate Account, the Certificate Account or Distribution Account or in any Escrow Account (as defined in Section 3.06)or Servicing Account, or any funds that otherwise are or may become due or payable to the Trustee for the benefit of the Certificateholders, to any claim, lien, security interest, judgment, levy, writ of attachment or other encumbrance, or assert by legal action or otherwise any claim or right of set off setoff against any Mortgage File or any funds collected on, or in connection with, a Mortgage Loan, except, however, that the Subservicer Master Servicer shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Subservicer Master Servicer under this Agreement.

Documents, Records and Funds in Possession. of Subservicer the Master Servicer to be Held for the Trustee. ---------------------------------------------------------- The Master Servicer shall account fully to the Trustee for any funds received by the Master Servicer or which otherwise are collected by the Master Servicer as Liquidation Proceeds or Insurance Proceeds in respect of any Mortgage Loan. All Mortgage Files and funds collected or held by, or under the control of, the Subservicer Master Servicer in respect of any Mortgage Loans, whether from the collection of principal and interest payments or from Liquidation Proceeds, including but not limited to, any funds on deposit in the Collection Certificate Account, shall be held by the Subservicer Master Servicer for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Trustee, subject to the applicable provisions of this Agreement. The Subservicer Master Servicer also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the Collection Certificate Account, the Certificate Account or Distribution Account or in any Escrow Account (as defined in Section 3.06)or Servicing Account, or any funds that otherwise are or may become due or payable to the Trustee for the benefit of the Certificateholders, to any claim, lien, security interest, judgment, levy, writ of attachment or other encumbrance, or assert by legal action or otherwise any claim or right of set off setoff against any Mortgage File or any funds collected on, or in connection with, a Mortgage Loan, except, however, that the Subservicer Master Servicer shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Subservicer Master Servicer under this Agreement.

Documents, Records and Funds in Possession. of Subservicer the Servicers to be Be Held for the TrusteeSecurities Administrator for the Benefit of the Trustee Each Servicer shall account fully to the Securities Administrator on behalf of the Trustee for any funds received by such Servicer or which otherwise are collected by such Servicer as Liquidation Proceeds, Condemnation Proceeds or Insurance Proceeds in respect of any Mortgage Loan. All Mortgage Files and funds collected or held by, or under the control of, the Subservicer a Servicer in respect of any Mortgage Loans, whether from the collection of principal and interest payments or from Liquidation Proceeds, including including, but not limited to, any funds on deposit in the Collection Account, shall be held by the Subservicer such Servicer for and on behalf of the Trustee on behalf of the Certificateholders and shall be and remain the sole and exclusive property of the Trustee, subject to the applicable provisions of this Agreement. The Subservicer Each Servicer also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the Collection Account, the Certificate Account or Distribution Account or in any Escrow Account (as defined in Section 3.06)Account, or any funds that otherwise are or may become due or payable to the Securities Administrator on behalf of the Trustee for the benefit of the Certificateholders, to any claim, lien, security interest, judgment, levy, writ of attachment or other encumbrance, or assert by legal action or otherwise any claim or right of set off setoff against any Mortgage File or any funds collected on, or in connection with, a Mortgage Loan, except, however, that the Subservicer such Servicer shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Subservicer such Servicer under this Agreement.

Documents, Records and Funds in Possession. of Subservicer the Servicer to be Held for the Trustee. ------------------------------------------ The Servicer shall account fully to the Trustee for any funds received by the Servicer or which otherwise are collected by the Servicer as Liquidation Proceeds or Insurance Proceeds in respect of any Mortgage Loan. All Mortgage Files and funds collected or held by, or under the control of, the Subservicer Servicer in respect of any Mortgage Loans, whether from the collection of principal and interest payments or from Liquidation Proceeds, including including, but not limited to, any funds on deposit in the Collection Account, shall be held by the Subservicer Servicer for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Trustee, subject to the applicable provisions of this Agreement. The Subservicer Servicer also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the Collection any Account, the Certificate Account or Distribution Account or in any Escrow Account (as defined in Section 3.06), or any funds that otherwise are or may become due or payable to the Trustee for the benefit of the Certificateholders, to any claim, lien, security interest, judgment, levy, writ of attachment or other encumbrance, or assert by legal action or otherwise any claim or right of set off setoff against any Mortgage File or any funds collected on, or in connection with, a Mortgage Loan, except, however, that the Subservicer Servicer shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Subservicer Servicer under this Agreement.

Documents, Records and Funds in Possession. of Subservicer the Servicers to be Be Held for the Trustee. Each Servicer shall account fully to the Trustee for any funds received by such Servicer or which otherwise are collected by such Servicer as Liquidation Proceeds, Condemnation Proceeds or Insurance Proceeds in respect of any Mortgage Loan serviced by such Servicer. All Mortgage Files and funds collected or held by, or under the control of, the Subservicer a Servicer in respect of any Mortgage Loans, whether from the collection of principal and interest payments or from Liquidation Proceeds, including including, but not limited to, any funds on deposit in the its Collection Account, shall be held by the Subservicer such Servicer for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Trustee, subject to the applicable provisions of this Agreement. The Subservicer Each Servicer also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the any Collection Account, the Certificate Account or Distribution Account or in any Escrow Account (as defined in Section 3.06)Account, or any funds that otherwise are or may become due or payable to the Trustee for the benefit of the Certificateholders, to any claim, lien, security interest, judgment, levy, writ of attachment or other encumbrance, or assert by legal action or otherwise any claim or right of set off setoff against any Mortgage File or any funds collected on, or in connection with, a Mortgage Loan, except, however, that the Subservicer such Servicer shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Subservicer such Servicer under this Agreement. Wilshire may from time to time provide the Depositor, and any Person designated by the Depositor, with certain reports and reasonable access to information and documentation regarding the Mortgage Loans.

Documents, Records and Funds in Possession. of Subservicer the Servicer to be Held for the Trustee. ----------------------------------------------------------- Notwithstanding any other provisions of this Agreement, the Servicer shall transmit to the Trustee as required by this Agreement all documents and instruments in respect of a Mortgage Loan coming into the possession of the Servicer from time to time and shall account fully to the Trustee for any funds received by the Servicer or which otherwise are collected by the Servicer as Liquidation Proceeds or Insurance Proceeds in respect of any related Mortgage Loan. All Mortgage Files and funds collected or held by, or under the control of, the Subservicer Servicer in respect of any Mortgage Loans, whether from the collection of principal and interest payments or from Liquidation Proceeds, including but not limited to, any funds on deposit in the Collection AccountCustodial Account(s), shall be held by the Subservicer Servicer for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Trustee, subject to the applicable provisions of this Agreement. The Subservicer Servicer also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the Collection Custodial Account, the Certificate Account or Distribution Account or in any related Escrow Account (as defined in Section 3.06)Account, or any funds that otherwise are or may become due or payable to the Trustee for the benefit of the Certificateholders, to any claim, lien, security interest, judgment, levy, writ of attachment or other encumbrance, or assert by legal action or otherwise any claim or right of set off setoff against any Mortgage File or any funds collected on, or in connection with, a Mortgage Loan, except, however, that the Subservicer Servicer shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Subservicer Servicer under this Agreement.

Documents, Records and Funds in Possession. of Subservicer the Master Servicer to be Held for the Trustee. ------------------------------------------------- The Master Servicer shall account fully to the Trustee for any funds received by the Master Servicer or which otherwise are collected by the Master Servicer as Liquidation Proceeds or Insurance Proceeds in respect of any Mortgage Loan. All Mortgage Files and funds collected or held by, or under the control of, the Subservicer Master Servicer in respect of any Mortgage Loans, whether from the collection of principal and interest payments or from Liquidation Proceeds, including but not limited to, any funds on deposit in the Collection Certificate Account, shall be held by the Subservicer Master Servicer for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Trustee, subject to the applicable provisions of this Agreement. The Subservicer Master Servicer also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the Collection Certificate Account, the Certificate Account or Distribution Account or in any Escrow Account (as defined in Section 3.06)or Servicing Account, or any funds that otherwise are or may become due or payable to the Trustee for the benefit of the Certificateholders, to any claim, lien, security interest, judgment, levy, writ of attachment or other encumbrance, or assert by legal action or otherwise any claim or right of set off setoff against any Mortgage File or any funds collected on, or in connection with, a Mortgage Loan, except, however, that the Subservicer Master Servicer shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Subservicer Master Servicer under this Agreement.

Documents, Records and Funds in Possession. of Subservicer the Servicer to be Held for the Trustee. The Servicer shall account fully to the Trustee for any funds received by the Servicer or which otherwise are collected by the Servicer as Liquidation Proceeds or Insurance Proceeds in respect of any Mortgage Loan. All Mortgage Files and funds collected or held by, or under the control of, the Subservicer Servicer in respect of any Mortgage Loans, whether from the collection of principal and interest payments or from Liquidation Proceeds, including but not limited to, any funds on deposit in the Collection Certificate Account, shall be held by the Subservicer Servicer for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Trustee, subject to the applicable provisions of this Agreement. The Subservicer Servicer also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the Certificate Account, the Collection Account, the Certificate Account or Distribution Account or in any Escrow Account (as defined in Section 3.06)Account, or any funds that otherwise are or may become due or payable to the Trustee for the benefit of the Certificateholders, to any claim, lien, security interest, judgment, levy, writ of attachment or other encumbrance, or assert by legal action or otherwise any claim or right of set off setoff against any Mortgage File or any funds collected on, or in connection with, a Mortgage Loan, except, however, that the Subservicer Servicer shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Subservicer Servicer under this Agreement.

Documents, Records and Funds in Possession. of Subservicer Master Servicer to be Held for the Trustee. Notwithstanding any other provisions of this Agreement, the Master Servicer shall transmit to the Trustee as required by this Agreement all documents and instruments in respect of a Mortgage Loan coming into the possession of the Master Servicer from time to time and shall account fully to the Trustee for any funds received by the Master Servicer or which otherwise are collected by the Master Servicer as Liquidation Proceeds or Insurance Proceeds in respect of any Mortgage Loan. All Mortgage Files and funds collected or held by, or under the control of, the Subservicer Master Servicer in respect of any Mortgage Loans, whether from the collection of principal and interest payments or from Liquidation Proceeds, including but not limited to, any funds on deposit in the Collection Certificate Account, shall be held by the Subservicer Master Servicer for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Trustee, subject to the applicable provisions of this Agreement. The Subservicer Master Servicer also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the Collection Certificate Account, the Certificate Account or Distribution Account or in any Escrow Account (as defined in Section 3.06)Account, or any funds that otherwise are or may become due or payable to the Trustee for the benefit of the Certificateholders, to any claim, lien, security interest, judgment, levy, writ of attachment or other encumbrance, or assert by legal action or otherwise any claim or right of set off setoff against any Mortgage File or any funds collected on, or in connection with, a Mortgage Loan, except, however, that the Subservicer Master Servicer shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Subservicer Master Servicer under this Agreement.

Documents, Records and Funds in Possession. of Subservicer the Servicer to be Held for the Trustee. The Servicer shall account fully to the Trustee for any funds received by the Servicer or which otherwise are collected by the Servicer as Liquidation Proceeds or Insurance Proceeds in respect of any Mortgage Loan. All Mortgage Files and funds collected or held by, or under the control of, the Subservicer Servicer in respect of any Mortgage Loans, whether from the collection of principal and interest payments or from Liquidation Proceeds, including including, but not limited to, any funds on deposit in the Collection Account, shall be held by the Subservicer Servicer for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Trustee, subject to the applicable provisions of this Agreement. The Subservicer Servicer also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the Collection any Account, the Certificate Account or Distribution Account or in any Escrow Account (as defined in Section 3.06), or any funds that otherwise are or may become due or payable to the Trustee for the benefit of the Certificateholders, to any claim, lien, security interest, judgment, levy, writ of attachment or other encumbrance, or assert by legal action or otherwise any claim or right of set off setoff against any Mortgage File or any funds collected on, or in connection with, a Mortgage Loan, except, however, that the Subservicer Servicer shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Subservicer Servicer under this Agreement.