Common use of Documents, Records and Funds Clause in Contracts

Documents, Records and Funds. in Possession of Servicer to be Held for the Trustee. All Mortgage Files and funds collected or held by, or under the control of, the Company 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 applicable Protected Account, shall be held by the Company for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Issuing Entity, subject to the applicable provisions of this Agreement. The Company also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the applicable Protected Account, the Master Servicer Collection Account, the Distribution Account or in any Escrow Account, or any funds that otherwise are or may become due or payable to the Master Servicer or the Securities Administrator 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 Company shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Company under this Agreement.

Documents, Records and Funds. in Possession of Servicer to be Held for the Trustee. All Mortgage Files and funds collected or held by, or under the control of, the Company a Servicer in respect of any Mortgage LoansLoans it services, whether from the collection of principal and interest payments or from Liquidation Proceeds, including but not limited to, any funds on deposit in the applicable Protected Servicer Collection Account, shall be held by the Company Servicer for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Issuing EntityTrust Fund, subject to the applicable provisions of this Agreement. The Company Each Servicer also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the applicable Protected Account, the Master related Servicer Collection Account, the Distribution Account or Certificate Account or in any Escrow Account, or any funds that otherwise are or may become due or payable to the Master Servicer or the Securities Administrator 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 Company Servicer shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Company Servicer under this Agreement.

Documents, Records and Funds. in Possession of Servicer Servicers to be Held for the Trustee. All Mortgage Files and funds collected or held by, or under the control of, the Company Servicers 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 applicable Protected AccountCollection Accounts, shall be held by the Company related Servicer for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Issuing EntityTrust Fund, subject to the applicable provisions of this Agreement. The Company Servicers also agrees agree that it they shall not create, incur or subject any Mortgage File or any funds that are deposited in the applicable Protected relevant Collection Account, the Master Servicer Collection Account, the Distribution Certificate Account or in any Escrow Account, or any funds that otherwise are or may become due or payable to the Trustee, Master Servicer or the Securities Administrator 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 Company Servicers shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Company such Servicer under this Agreement.

Documents, Records and Funds. in Possession of Servicer to be Held for the Trustee. All Mortgage Files and funds collected or held by, or under the control of, the Company Wilshire 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 applicable Protected Collection Account, shall be held by the Company Wilshire for and on behalf of the Trustee and shall be and remain the sole and exclusive property of the Issuing Entity, subject to the applicable provisions of this Agreement. The Company Wilshire also agrees that it shall not create, incur or subject any Mortgage File or any funds that are deposited in the applicable Protected Collection Account, the Master Servicer Collection Account, the Distribution Account or in any Escrow Account, or any funds that otherwise are or may become due or payable to the Master Servicer or the Securities Administrator 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 Company Wilshire shall be entitled to set off against and deduct from any such funds any amounts that are properly due and payable to the Company Wilshire under this Agreement.