Common use of Establishment of Certificate Account; Deposits in Certificate Account Clause in Contracts

Establishment of Certificate Account; Deposits in Certificate Account. (a) The Trustee, for the benefit of the Certificateholders, shall establish and maintain one or more accounts (collectively, the "Certificate Account"), each of which shall be an Eligible Account, entitled "[Name of Trustee], in trust for the registered holders of Residential Asset Securities Corporation, Mortgage Asset-Backed Pass-Through Certificates, Series [200 - ]", held in trust by the Trustee for the benefit of the Certificateholders. The Trustee shall cause the following payments and collections in respect of the Underlying Agency Securities to be deposited directly into the Certificate Account: (i) all distributions received on the Underlying Agency Securities subsequent to the Closing Date; (ii) any amounts received in connection with the sale of the Underlying Agency Securities pursuant to Section 9.01 in accordance with a plan of complete liquidation of the Trust Fund meeting the requirements of Section 860F(a)(4)A of the Code [, or in connection with any optional repurchase by the Certificate Administrator or any GNMA Issuer of any Underlying Agency Security]; and (iii) 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. (b) Funds in the Certificate Account shall be invested by the Trustee in Permitted Investments in accordance with the provisions set forth in Section 4.04. The Trustee shall give notice to the Certificate Administrator and the Company of the location of each Certificate Account upon establishment thereof and prior to any change thereof.

Establishment of Certificate Account; Deposits in Certificate Account. (a) The Trustee, for the benefit of the Certificateholders, shall establish and maintain one or more accounts (collectively, the "Certificate Account"), each of which shall be an Eligible Account, entitled "[Name of Trustee], in trust for the registered holders of Residential Asset Securities Corporation, Mortgage Asset-Backed Pass-Through Certificates, Series [200 - 20[__-__]", held in trust by the Trustee for the benefit of the Certificateholders. The Trustee shall cause the following payments and collections in respect of the Underlying Agency Securities to be deposited directly into the Certificate Account: (i) all distributions received on the Underlying Agency Securities subsequent to the Closing Date; (ii) any amounts received in connection with the sale of the Underlying Agency Securities pursuant to Section 9.01 in accordance with a plan of complete liquidation of the Trust Fund meeting the requirements of Section 860F(a)(4)A of the Code Code[, or in connection with any optional repurchase by the Certificate Administrator or any GNMA Issuer of any Underlying Agency Security]; and (iii) 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. (b) Funds in the Certificate Account shall be invested by the Trustee in Permitted Investments in accordance with the provisions set forth in Section 4.04. The Trustee shall give notice to the Certificate Administrator and the Company of the location of each Certificate Account upon establishment thereof and prior to any change thereof.

Establishment of Certificate Account; Deposits in Certificate Account. (a) The Trustee, for the benefit of the Certificateholders, shall establish and maintain one or more accounts (collectively, the "Certificate Account"), each of which shall be an Eligible Account, entitled "[Name of Trustee], in trust for the registered holders of Residential Asset Securities CorporationAccredit Loans, Inc., Mortgage Asset-Backed Pass-Through Certificates, Series [200 - ]", held in trust by the Trustee for the benefit of the Certificateholders. The Trustee shall cause the following payments and collections in respect of the Underlying Agency Securities to be deposited directly into the Certificate Account: (i) all distributions received on the Underlying Agency Securities subsequent to the Closing Date; (ii) any amounts received in connection with the sale of the Underlying Agency Securities pursuant to Section 9.01 in accordance with a plan of complete liquidation of the Trust Fund meeting the requirements of Section 860F(a)(4)A of the Code [, or in connection with any optional repurchase by the Certificate Administrator or any GNMA Issuer of any Underlying Agency Security]; and (iii) 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. (b) Funds in the Certificate Account shall be invested by the Trustee in Permitted Investments in accordance with the provisions set forth in Section 4.04. The Trustee shall give notice to the Certificate Administrator and the Company of the location of each Certificate Account upon establishment thereof and prior to any change thereof.

Establishment of Certificate Account; Deposits in Certificate Account. (a) The Trustee, for the benefit of the Certificateholders, shall establish and maintain one or more accounts (collectively, the "Certificate AccountCERTIFICATE ACCOUNT"), each of which shall be an Eligible Account, entitled "[Name of Trustee], in trust for the registered holders of Residential Asset Securities Corporation, Mortgage Asset-Backed Pass-Through Certificates, Series [200 - 20[__-__]", held in trust by the Trustee for the benefit of the Certificateholders. The Trustee shall cause the following payments and collections in respect of the Underlying Agency Securities to be deposited directly into the Certificate Account: (i) all distributions received on the Underlying Agency Securities subsequent to the Closing Date; (ii) any amounts received in connection with the sale of the Underlying Agency Securities pursuant to Section SECTION 9.01 in accordance with a plan of complete liquidation of the Trust Fund meeting the requirements of Section 860F(a)(4)A of the Code Code[, or in connection with any optional repurchase by the Certificate Administrator or any GNMA Issuer of any Underlying Agency Security]; and (iii) 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. (b) Funds in the Certificate Account shall be invested by the Trustee in Permitted Investments in accordance with the provisions set forth in Section SECTION 4.04. The Trustee shall give notice to the Certificate Administrator and the Company of the location of each Certificate Account upon establishment thereof and prior to any change thereof.

Establishment of Certificate Account; Deposits in Certificate Account. (a) The Trustee, for the benefit of the Certificateholders, shall establish and maintain one or more accounts (collectively, the "“Certificate Account"”), each of which shall be an Eligible Account, entitled "“[Name of Trustee], in trust for the registered holders of Residential Asset Securities CorporationAccredit Loans, Inc., Mortgage Asset-Backed Pass-Through Certificates, Series [200 - ]"”, held in trust by the Trustee for the benefit of the Certificateholders. The Trustee shall cause the following payments and collections in respect of the Underlying Agency Securities to be deposited directly into the Certificate Account: (i) all distributions received on the Underlying Agency Securities subsequent to the Closing Date; (ii) any amounts received in connection with the sale of the Underlying Agency Securities pursuant to Section 9.01 in accordance with a plan of complete liquidation of the Trust Fund meeting the requirements of Section 860F(a)(4)A of the Code [, or in connection with any optional repurchase by the Certificate Administrator or any GNMA Issuer of any Underlying Agency Security]; and (iii) 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. (b) Funds in the Certificate Account shall be invested by the Trustee in Permitted Investments in accordance with the provisions set forth in Section 4.04. The Trustee shall give notice to the Certificate Administrator and the Company of the location of each Certificate Account upon establishment thereof and prior to any change thereof.