Establishment of Certificate Account. The Securities Intermediary hereby represents and warrants that:
(a) The Certificate Account for the Trust is a “securities account” within the meaning of Section 8-501 of the UCC and is held only in the name of the Trustee on behalf of the Trust. The Securities Intermediary is acting in the capacity of a “securities intermediary” within the meaning of Section 8-102(a)(14) of the UCC;
(b) All Underlying Securities have been credited to the Certificate Account by the Securities Intermediary; and
(c) The Certificate Account is an account to which financial assets are or may be credited, and the Securities Intermediary shall treat the Trustee as entitled to exercise the rights that comprise any financial asset credited to the Certificate Account.
Establishment of Certificate Account. Deposits in ------------------------------------------------- Certificate Account. With respect to all of the Mortgage Loans, the Master ------------------- Servicer shall establish and maintain a Certificate Account (the "Certificate ----------- Account") which is an Eligible Account, titled "Merrill Lynch Credit ------- Xxxpxxxxxon, as Master Servicer, in trust for Bankers Trust Company of California, N.A., as Trustee, for the benefit of registered holders of MLCC Mortgage Investors, Inc., Mortgage Loan Asset Backed Pass-Through Certificates, Series 199_-_"; provided, however, that if the Certificate Account is opened under a different name, the Master Servicer shall, within 90 days after the Closing Date, cause the Certificate Account to be re-titled under the aforementioned name; and provided further, that if (x) the long- term unsecured debt of Merrill Lynch & Co., Inc. xx xxxex xx Moody's, and is at any time rated by Moody's below A3 or (y) if such debt is rated by Standard & Poor's, and is at any time rated by Standard & Poor's below A-, the Certificate Account shall thereafter be maintained by the Trustee and such account shall at such time be titled "Bankers Trust Company of California, N.A., as trustee for the benefit of the holders of MLCC Mortgage Investors, Inc., Mortgage Loan Asset Backed Pass-Through Certificates, Series 199_-_". Such Certificate Account shall be established with the Trustee or a commercial bank, a mutual savings bank, or a savings and loan association. The Master Servicer may invest, or cause the institution maintaining the Certificate Account to invest, moneys in the Certificate Account in Eligible Investments, which shall mature not later than the Business Day next preceding the Distribution Date next following the date of such investment and shall not be sold or disposed of prior to its maturity. The proceeds of the sale or other disposition of all Eligible Investments shall be deposited in the Certificate Account. All such Eligible Investments shall be made in the name of the Trustee. All net income and gain realized from any such investment shall be for the benefit of the Master Servicer as additional servicing compensation and shall be subject to its withdrawal or order from time to time. The Master Servicer shall be entitled to retain any net interest paid on funds deposited in the Certificate Account other than the interest on any funds required by applicable law to be paid to a Mortgagor, and, to the extent require...
Establishment of Certificate Account. The Sponsor shall cause to be established, and the Trustee shall maintain, at the corporate trust office of the Trustee, a Certificate Account, a Pre-Funding Account, a Capitalized Interest Account, the Upper-Tier Group I Distribution Account and the Upper Tier Group II Distribution Account each of which is to be held by the Trustee in the name of the Trust for the benefit of the Owners of the Certificates and the Class A-8 and Class A-9 Certificate Insurer, as their interests may appear.
Establishment of Certificate Account. The Sponsor shall establish and maintain, at the Corporate Trust Office, the Certificate Account to be held by the Trustee as a segregated trust account in the name of the Trust so long as the Trustee qualifies as a Designated Depository Institution and if the Trustee does not qualify, then by any Designated Depository Institution for the benefit of the Holders of the Certificates and the Certificate Insurer, as their interests may appear. The Certificate Account and the amounts deposited therein shall not be subject to any claim, lien or encumbrance of any creditor or depositor of the Trustee or the Sponsor (whether made directly or indirectly through a liquidator, receiver or trustee in bankruptcy of the Trustee or the Sponsor).
Establishment of Certificate Account. The Sponsor shall establish and maintain, at the corporate trust office of the Trustee, a Certificate Account to be held by the Trustee as a segregated trust account in the name of the Trust so long as the Trustee qualifies as a Designated Depository Institution and if the Trustee does not qualify, then by any Designated Depository Institution for the benefit of the Owners of the Certificates and the Certificate Insurer, as their interests may appear.
Establishment of Certificate Account. The Securities Intermediary and the Trustee hereby represent and warrant that:
(a) The Certificate Account for the Trust is a “securities account” within the meaning of Section 8-501 of the UCC and is held only in the name of the Trustee on behalf of the Trust. There is only one account that constitutes the Certificate Account. The Securities Intermediary is acting in the capacity of a “securities intermediary” within the meaning of Section 8-102(a)(14) of the UCC;
(b) All Underlying Securities shall have been (i) delivered to the Securities Intermediary pursuant to the Purchase Agreement and (ii) credited to the Certificate Account; and
(c) The Certificate Account is an account to which financial assets may be credited, and the Securities Intermediary shall treat the Trustee as entitled to exercise the rights that comprise any financial asset credited to the Certificate Account.
Establishment of Certificate Account. The Securities Intermediary and the Trustee hereby represent and warrant that:
(a) The Certificate Account for the Trust is a “securities account” within the meaning of Section 8-501 of the UCC and is held only in the name of the Trustee on behalf of the Trust. The Securities Intermediary is acting in the capacity of a “securities intermediary” within the meaning of Section 8-102(a)(14) of the UCC;
(b) All Underlying Securities have been (i) delivered to the Securities Intermediary pursuant to the Agreement and (ii) credited to the Certificate Account; and
(c) The Certificate Account is an account to which financial assets are or may be credited, and the Securities Intermediary shall treat the Trustee as entitled to exercise the rights that comprise any financial asset credited to the Certificate Account.
Establishment of Certificate Account. The Trustee shall establish and maintain, at a Designated Depository Institution, a Certificate Account to be held by the Trustee in the name of the Trust for the benefit of the Owners of the Certificates.
Establishment of Certificate Account. Establishment of Certificate Account; Deposits in Certificate Account 15 SECTION 3.2 Permitted Withdrawals From the Certificate Account 15 ARTICLE IV RECEIPT, DISTRIBUTION AND APPLICATION OF INCOME FROM THE TRUST ESTATE
Establishment of Certificate Account. Deposits in Certificate Account.
(1) all proceeds of the issuance of the Notes received from the Initial Purchaser; (2) all payments allocable to the Trust Certificates that are received from time to time pursuant to Section 12.01 of the Indenture; (3) any payments received on the Daiwa FLOWS Certificates from time to time pursuant to the respective Underlying Agreements but subject to Section 4.1(a) and (b); and (4) any other amounts specifically required to be deposited in the Certificate Account hereunder. The foregoing requirements for deposit in the Certificate Account shall be exclusive.
