ESTABLISHMENT OF CUSTODIAL ACCOUNTS. The Participant hereby requests that the Program Sponsor establish a separate recordkeeping account (“Participant Account”). The Program Sponsor hereby requests that the Custodian establish a Custodial Account for and in the name of the Participant to hold the assets of the Participant’s Account established by the Program Sponsor. A Participant may establish a Participant Account by completing the Enrollment Form and delivering it to the Program Sponsor or by previously having done so and consented to the Sponsor’s right to select the Custodian and amend this Custodial Agreement. Program Sponsor and the Participant each represent to Custodian that all necessary action has been taken for such appointment and that this Agreement constitutes a legal, valid and binding obligation of the Program Sponsor and the Participant. All Contributions made by or on behalf of the Participant shall be applied by the Program Sponsor, in accordance with the instructions of the Participant, to the purchase of Mutual Fund shares. The Custodian shall not be obligated to provide detailed accounting for the recordkeeping account or for any individual investment option, such as with respect to Contributions, distributions, loan activity, and rollovers. Participant agrees to look solely to the Program Sponsor or other record keeper that Program Sponsor has retained for all such detailed information.
ESTABLISHMENT OF CUSTODIAL ACCOUNTS. (i) The Custodian, on behalf of the Certificateholders, will establish and maintain in its own name an Eligible Deposit Account (the "Collection Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Custodian on behalf of the Certificateholders.
(i) The Custodian, on behalf of the Certificateholders, shall establish and maintain in its own name an Eligible Deposit Account (the "Accumulation Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Custodian on behalf of the Certificateholders.
(ii) The Custodian, on behalf of the Certificateholders, shall establish and maintain in its own name an Eligible Deposit Account (the "Spread Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Custodian on behalf of the Certificateholders. On the Closing Date, the Issuer shall deposit (or cause to be deposited) $4,907,052.95 to the Spread Account.
(b) Funds on deposit in the Collection Account, the Accumulation Account and the Spread Account (collectively, the "Custodial Accounts") shall be invested by the Custodian (or any custodian with respect to funds on deposit in any such account) in Eligible Investments selected in writing by the Servicer (pursuant to standing instructions or otherwise); provided however, it is understood and agreed that the Custodian and the Servicer shall not be liable for the selection of, or any loss arising from such investment in, Eligible Investments. All such Eligible Investments shall be held by or on behalf of the Custodian for the benefit of the Certificateholders. Other than as permitted by the Rating Agencies, funds on deposit in any Custodial Account shall be invested in Eligible Investments that will mature so that such funds will be available at the close of business on the Business Day immediately preceding the following Distribution Date; provided that on the Business Day preceding each Distribution Date all Investment Earnings on funds on deposit therein shall be deposited into the Collection Account and shall be deemed to constitute a portion of the Available Funds for such Distribution Date. Funds deposited in a Custodial Account on the day immediately preceding a Distribution Date upon the maturity of any Eligible Investments are not required to be invested overnight. All Eligible Investments will be held to maturity.
(c) All investment...
ESTABLISHMENT OF CUSTODIAL ACCOUNTS. Deposits in Custodial Accounts ) is hereby amended by replacing the period after clause (x) with a semi-colon and adding a new clause (xi) to read as follows:
ESTABLISHMENT OF CUSTODIAL ACCOUNTS. The Participant hereby requests that the Plan Provider establish a separate recordkeeping account (Participant Account). The Plan Provider hereby requests that the Custodian establish a Custodial Account for and in the name of the Participant’s Employer to hold the combined assets of all the Participant Accounts of that Employer established by the Plan Provider. A Participant may establish a Participant Account by completing the Enrollment Form and delivering it to the Plan Provider. Plan Provider and the Participant each represent to Custodian that all necessary action has been taken for such appointment and that this Agreement constitutes a legal, valid and binding obligation of the Plan Provider, the Participant and the Participant’s Employer. All contributions made by or on behalf of the Participant shall be applied by the Plan Provider, in accordance with the instructions of the Participant, to the purchase of Mutual Fund shares. The Custodian shall not be obligated to provide detailed accounting for the recordkeeping account or for any individual investment option, such as with respect to contributions, distributions, loan activity, and rollovers. Participant agrees to look solely to the Plan Provider or other record keeper that Employer has retained for all such detailed information.
ESTABLISHMENT OF CUSTODIAL ACCOUNTS. The Servicer shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts held in trust, entitled "GMAC Mortgage Corporation Custodial Account in trust for the benefit of the Holders of SAMI 1999-J1." Each Custodial Account shall be an Eligible Account. The Custodial Account shall be maintained as a segregated account, separate and apart from trust funds created for mortgage pass-through certificates of other series, and the other accounts of the Servicer.
ESTABLISHMENT OF CUSTODIAL ACCOUNTS. The Custodian shall establish a Custodial Account to hold investments permitted herein for the benefit of each Participant to which the Participant's contributions (including Rollover Contributions and Transfers) and the earnings thereon shall be credited.
ESTABLISHMENT OF CUSTODIAL ACCOUNTS. Deposits in Custodial Accounts) is hereby amended by (i) adding the following language in the seventh line of the first paragraph after "Closing Date": "to the Master Servicer within 30 days of the Closing Date"
ESTABLISHMENT OF CUSTODIAL ACCOUNTS. 34 6.2 Certain Reimbursements to the Servicer ................................ 36 6.3
ESTABLISHMENT OF CUSTODIAL ACCOUNTS. 37 Section 3.05. Deposits in the Custodial Account...............38 Section 3.06. Permitted Withdrawals From the Custodial Account.........................................39 Section 3.07. Investment of Funds in the Custodial Account....40 Section 3.08.
ESTABLISHMENT OF CUSTODIAL ACCOUNTS. The Participant hereby requests that the Plan Provider establish a separate recordkeeping account (Participant Account). The Plan Provider hereby requests that the Custodian establish a Custodial Account for and in the name of the Participant’s Employer to hold the combined assets of all the Participant Accounts of that Employer established by the Plan Provider. A Participant may establish a Participant Account by completing the Enrollment Form and delivering it to the Plan Provider or by following the Plan Provider’s online enrollment process or such other process as determined by the Plan Provider. Plan Provider and the Participant each represent to Custodian that all necessary action has been taken for such appointment and that this Agreement constitutes a legal, valid, and binding obligation of the Plan Provider and the Participant. All contributions made by or on behalf of the Participant shall be applied by the Plan Provider, in accordance with the instructions of the Participant, to the purchase of Mutual Fund shares. The Custodian shall not be obligated to provide detailed accounting for the recordkeeping account or for any individual investment option, such as with respect to contributions, distributions, loan activity, and rollovers. Participant agrees to look solely to the Plan Provider or other recordkeeper that Xxxxxxxx has retained for all such detailed information.
