Escrow Investment. If the Servicer elects or is required by law to deposit the Borrower's Escrow Funds into an interest-bearing custodial account, the Servicer shall either (a) deposit such funds into an account which permits withdrawal on demand so as to pay Escrow Items as they come due, or (b) invest such funds in an Eligible Account so that adequate funds mature the Business Day prior to the date payment is due for each Escrow Item.
Appears in 74 contracts
Samples: Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-Ar17 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-18 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-Ar11 Trust)
Escrow Investment. If the Servicer elects or is required by law to deposit the Borrower's Escrow Funds into an interest-bearing custodial account, the Servicer shall either either
(a) deposit such funds into an account which permits withdrawal on demand so as to pay Escrow Items as they come due, or (b) invest such funds in an Eligible Account so that adequate funds mature the Business Day prior to the date payment is due for each Escrow Item.
Appears in 2 contracts
Samples: Servicing Agreement (Wells Fargo Asset Securities Corp), Servicing Agreement (Wells Fargo Asset Securities Corp)
Escrow Investment. If the Servicer elects or is required by law to deposit the Borrower's ’s Escrow Funds into an interest-bearing custodial account, the Servicer shall either (a) deposit such funds into an account which permits withdrawal on demand so as to pay Escrow Items as they come due, or (b) invest such funds in an Eligible Account so that adequate funds mature the Business Day prior to the date payment is due for each Escrow Item.
Appears in 1 contract
Samples: Servicing Agreement (Wells Fargo Asset Securities Corp)
