Common use of ESTABLISHMENT OF PRINCIPAL AND INTEREST ACCOUNTS; DEPOSITS IN PRINCIPAL AND INTEREST ACCOUNT Clause in Contracts

ESTABLISHMENT OF PRINCIPAL AND INTEREST ACCOUNTS; DEPOSITS IN PRINCIPAL AND INTEREST ACCOUNT. (a) The Servicer shall cause to be established and maintained one or more Principal and Interest Accounts, in one or more Designated Depository Institutions, in the form of time deposit or demand accounts, which may be interest-bearing or such accounts may be trust accounts wherein the moneys therein are invested in Permitted Instruments, titled "The Money Store Inc., in trust for the registered holders of The Money Store Asset Backed Certificates and Asset Backed Notes, Series 1998-C, and various Obligors"; provided, however, that for so long as (i) (A) the Servicer remains an affiliate of FUNB, (B) no Event of Default shall have occurred and be continuing and (C) FUNB maintains a short-term rating of at least A-1 by S&P and P-1 by Moody's, and for five Business Days following any reduction, suspensxxx, xxrmination or withdrawal in either such rating, or (ii) following the occurrence and continuation of any event described in subclause (i) of this paragraph, an arrangement is established that is satisfactory to the Rating Agencies and the Note Insurer which does not in itself result in (I) any reduction of any rating issued in respect of the Notes or (II) any reduction below investment grade of the Notes without the benefit of the Note Insurance Policies, the Servicer, notwithstanding anything to the contrary herein provided, may establish and maintain the Principal and Interest Account as a deposit account with FUNB. Each such Principal and Interest Account shall be insured by the BIF or SAIF administered by the FDIC to the maximum extent provided by law. The creation of any Principal and Interest Account shall be evidenced by a letter agreement in the form of Exhibit B hereto. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Note Insurer and the Owner Trustee. (b) The Servicer and each Subservicer shall deposit without duplication (within 24 hours of receipt thereof) in the applicable Principal and Interest Account and retain therein: (i) all payments received after the Cut-Off Date on account of principal on the Loans, including all Excess Payments, Principal Prepayments and Curtailments received after the Cut-Off Date; (ii)all payments received after the Cut-Off Date on account of interest on the Loans; (iii) all Net Liquidation Proceeds received with respect to the Loans; (iv) all Insurance Proceeds received with respect to the Loans (other than amounts to be applied to the restoration or repair of the related Mortgaged Property, or to be released to the Obligor in accordance with customary servicing procedures); (v) all Released Mortgaged Property Proceeds received with respect to the Loans; (vi) any amounts paid in connection with the purchase of any Loan, and the amount of any Substitution Adjustment received with respect to the Loans paid, pursuant to Sections 2.05 and 3.03; (vii) any amount required to be deposited in the applicable Principal and Interest Account pursuant to Section 4.04, 4.08, 4.10, 4.15(c) or 11.01; and (viii) the amount of any credit life insurance premium refund which is not due to the related Obligor. Also, for each Loan delivered on the Closing Date that was originated on or after September 1, 1998, the Servicer shall deposit in the Principal and Interest Account 30 days' interest on the original principal balance of such Loan calculated at the applicable Loan Interest Rate. (c) The foregoing requirements for deposit in the Principal and Interest Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, the Servicing Fee and the Contingency Fee with respect to each Loan, and payments in the nature of prepayment penalties or premiums, late payment charges and assumption fees, to the extent received and permitted by Sections 5.01 and 5.03, together with the difference between any Liquidation Proceeds and the related Net Liquidation Proceeds, need not be deposited by the Servicer in the Principal and Interest Account. (d) Any interest earnings on funds held in the Principal and Interest Account paid by a Designated Depository Institution shall be for the account of the Servicer and may only be withdrawn from the applicable Principal and Interest Account by the Servicer immediately following its monthly remittance of the Pool Available Remittance Amount for the related Pool to the Indenture Trustee. Any reference herein to amounts on deposit in the Principal and Interest Account shall refer to amounts net of such investment earnings.

ESTABLISHMENT OF PRINCIPAL AND INTEREST ACCOUNTS; DEPOSITS IN PRINCIPAL AND INTEREST ACCOUNT. (a) The Servicer shall cause to be established and maintained one or more Principal and Interest Accounts, in one or more Designated Depository Institutions, in the form of time deposit or demand accounts, which may be interest-bearing or such accounts may be trust accounts wherein the moneys therein are invested in Permitted Instruments, titled "The Money Store Inc., in trust for the registered holders of The Money Store Residential Asset Backed Certificates and Asset Backed Notes, Series 1998-CI, and various Obligors"; provided, however, that for so long as (i) (A) the Servicer remains an affiliate of FUNB, (B) no Event of Default shall have occurred and be continuing and (C) FUNB maintains a short-term rating of at least A-1 by S&P and P-1 by Moody's, and for five Business Days following any reduction, suspensxxx, xxrmination or withdrawal in either such rating, or (ii) following the occurrence and continuation of any event described in subclause (i) of this paragraph, an arrangement is established that is satisfactory to the Rating Agencies and the Note Insurer which does not in itself result in (I) any reduction of any rating issued in respect of the Notes or (II) any reduction below investment grade of the Notes without the benefit of the Note Insurance Policies, the Servicer, notwithstanding anything to the contrary herein provided, may establish and maintain the Principal and Interest Account as a deposit account with FUNB. Mortgagors." Each such Principal and Interest Account shall be insured by the BIF or SAIF administered by the FDIC to the maximum extent provided by law. The creation of any Principal and Interest Account shall be evidenced by a letter agreement in the form of Exhibit B hereto. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Note Insurer and the Owner Trustee. (b) The Servicer and each Subservicer shall deposit without duplication (within 24 hours of receipt thereof) in the applicable Principal and Interest Account and retain therein: : (i) all payments received after the Cut-Off Date on account of principal on the Loans, including all Excess Payments, Principal Prepayments and Curtailments received after the Cut-Off Date; Date and all payments in respect of the applicable FHA Insurance Premium; (ii)all ii) all payments received after the Cut-Off Date on account of interest on the Loans; ; (iii) all Net Liquidation Proceeds received with respect to the Loans; ; (iv) all Insurance Proceeds received with respect to the Loans (other than amounts to be applied to the restoration or repair of the related Mortgaged Property, or to be released to the Obligor in accordance with customary servicing procedures); ; (v) all Released Mortgaged Property Proceeds received with respect to the Loans; ; (vi) any amounts paid in connection with the purchase of any Loan, and the amount of any Substitution Adjustment received with respect to the Loans paid, pursuant to Sections 2.05 2.05, 2.08 and 3.03; ; (vii) any amount required to be deposited in the applicable Principal and Interest Account pursuant to Section 4.04, 4.08, 4.10, 4.15(c) or 11.01; and and (viii) the amount of any credit life insurance premium refund which is not due to the related Obligor. Also, for each Loan delivered on the Closing Date that was originated on or after September 1February 28, 1998, the Servicer shall deposit in the Principal and Interest Account 30 days' interest on the original principal balance of such Loan calculated at the applicable Loan Interest Rate. (c) The foregoing requirements for deposit in the Principal and Interest Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, the Servicing Fee and the Contingency Fee with respect to each Loan, and payments in the nature of prepayment penalties or premiums, late payment charges and assumption fees, to the extent received and permitted by Sections 5.01 and 5.03, together with the difference between any Liquidation Proceeds and the related Net Liquidation Proceeds, need not be deposited by the Servicer in the Principal and Interest Account. (d) Any interest earnings on funds held in the Principal and Interest Account paid by a Designated Depository Institution shall be for the account of the Servicer and may only be withdrawn from the applicable Principal and Interest Account by the Servicer immediately following its monthly remittance of the Pool Available Remittance Amount for the related Pool to the Indenture Trustee. Any reference herein to amounts on deposit in the Principal and Interest Account shall refer to amounts net of such investment earnings.

ESTABLISHMENT OF PRINCIPAL AND INTEREST ACCOUNTS; DEPOSITS IN PRINCIPAL AND INTEREST ACCOUNT. (a) The Servicer shall cause to be established and maintained one or more Principal and Interest Accounts, in one or more Designated Depository Institutions, in the form of time deposit or demand accounts, which may be interest-bearing or such accounts may be trust accounts wherein the moneys therein are invested in Permitted Instruments, titled "The Money Store Inc., in trust for the registered holders of The Money Store Residential Asset Backed Certificates and Asset Backed Notes, Series 19981997-CII, and various Obligors"; provided, however, that for so long as (i) (A) the Servicer remains an affiliate of FUNB, (B) no Event of Default shall have occurred and be continuing and (C) FUNB maintains a short-term rating of at least A-1 by S&P and P-1 by Moody's, and for five Business Days following any reduction, suspensxxx, xxrmination or withdrawal in either such rating, or (ii) following the occurrence and continuation of any event described in subclause (i) of this paragraph, an arrangement is established that is satisfactory to the Rating Agencies and the Note Insurer which does not in itself result in (I) any reduction of any rating issued in respect of the Notes or (II) any reduction below investment grade of the Notes without the benefit of the Note Insurance Policies, the Servicer, notwithstanding anything to the contrary herein provided, may establish and maintain the Principal and Interest Account as a deposit account with FUNB. Mortgagors." Each such Principal and Interest Account shall be insured by the BIF or SAIF administered by the FDIC to the maximum extent provided by law. The creation of any Principal and Interest Account shall be evidenced by a letter agreement in the form of Exhibit B hereto. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Note Insurer Trustee and the Owner Trustee. (b) The Servicer and each Subservicer shall deposit without duplication (within 24 hours of receipt thereof) in the applicable Principal and Interest Account and retain therein: : (i) all payments received after the Cut-Off Date on account of principal on the Loans, including all Excess Payments, Principal Prepayments and Curtailments received after the Cut-Off Date; Date and all payments in respect of the applicable FHA Insurance Premium; (ii)all ii) all payments received after the Cut-Off Date on account of interest on the Loans; ; (iii) all Net Liquidation Proceeds received with respect to the Loans; ; (iv) all Insurance Proceeds received with respect to the Loans (other than amounts to be applied to the restoration or repair of the related Mortgaged Property, or to be released to the Obligor in accordance with customary servicing procedures); ; (v) all Released Mortgaged Property Proceeds received with respect to the Loans; ; (vi) any amounts paid in connection with the purchase of any Loan, and the amount of any Substitution Adjustment received with respect to the Loans paid, pursuant to Sections 2.05 2.05, 2.08 and 3.03; ; (vii) any amount required to be deposited in the applicable Principal and Interest Account pursuant to Section 4.04, 4.08, 4.10, 4.15(c) or 11.01; and and (viii) the amount of any credit life insurance premium refund which is not due to the related Obligor. Also, for each Loan delivered on the Closing Date that was originated on or after September 1November 30, 19981997, the Servicer shall deposit in the Principal and Interest Account 30 days' interest on the original principal balance of such Loan calculated at the applicable Loan Interest Rate. (c) The foregoing requirements for deposit in the Principal and Interest Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, the Servicing Fee and the Contingency Fee with respect to each Loan, and payments in the nature of prepayment penalties or premiums, late payment charges and assumption fees, to the extent received and permitted by Sections 5.01 and 5.03, together with the difference between any Liquidation Proceeds and the related Net Liquidation Proceeds, need not be deposited by the Servicer in the Principal and Interest Account. (d) Any interest earnings on funds held in the Principal and Interest Account paid by a Designated Depository Institution shall be for the account of the Servicer and may only be withdrawn from the applicable Principal and Interest Account by the Servicer immediately following its monthly remittance of the Pool Available Remittance Amount for the related Pool to the Indenture Trustee. Any reference herein to amounts on deposit in the Principal and Interest Account shall refer to amounts net of such investment earnings.

ESTABLISHMENT OF PRINCIPAL AND INTEREST ACCOUNTS; DEPOSITS IN PRINCIPAL AND INTEREST ACCOUNT. (a) The Servicer shall cause to be established and maintained one or more Principal and Interest Accounts, in one or more Designated Depository Institutions, in the form of time deposit or demand accounts, which may be interest-bearing or such accounts may be trust accounts wherein the moneys therein are invested in Permitted Instruments, titled "The Money Store Inc., in trust for the registered holders of The Money Store Residential Asset Backed Certificates and Asset Backed Notes, Series 19981997-CI, and various Obligors"; provided, however, that for so long as (i) (A) the Servicer remains an affiliate of FUNB, (B) no Event of Default shall have occurred and be continuing and (C) FUNB maintains a short-term rating of at least A-1 by S&P and P-1 by Moody's, and for five Business Days following any reduction, suspensxxx, xxrmination or withdrawal in either such rating, or (ii) following the occurrence and continuation of any event described in subclause (i) of this paragraph, an arrangement is established that is satisfactory to the Rating Agencies and the Note Insurer which does not in itself result in (I) any reduction of any rating issued in respect of the Notes or (II) any reduction below investment grade of the Notes without the benefit of the Note Insurance Policies, the Servicer, notwithstanding anything to the contrary herein provided, may establish and maintain the Principal and Interest Account as a deposit account with FUNB. Mortgagors." Each such Principal and Interest Account shall be insured by the BIF or SAIF administered by the FDIC to the maximum extent provided by law. The creation of any Principal and Interest Account shall be evidenced by a letter agreement in the form of Exhibit B hereto. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Note Insurer Trustee and the Owner Trustee. (b) The Servicer and each Subservicer shall deposit without duplication (within 24 hours of receipt thereof) in the applicable Principal and Interest Account and retain therein: : (i) all payments received after the Cut-Off Date on account of principal on the Loans, including all Excess Payments, Principal Prepayments and Curtailments received after the Cut-Off Date; Date and all payments in respect of the applicable FHA Insurance Premium; (ii)all ii) all payments received after the Cut-Off Date on account of interest on the Loans; ; (iii) all Net Liquidation Proceeds received with respect to the Loans; ; (iv) all Insurance Proceeds received with respect to the Loans (other than amounts to be applied to the restoration or repair of the related Mortgaged Property, or to be released to the Obligor in accordance with customary servicing procedures); ; (v) all Released Mortgaged Property Proceeds received with respect to the Loans; ; (vi) any amounts paid in connection with the purchase of any Loan, and the amount of any Substitution Adjustment received with respect to the Loans paid, paid pursuant to Sections 2.05 and 3.03; ; (vii) any amount required to be deposited in the applicable Principal and Interest Account pursuant to Section 4.04, 4.08, 4.10, 4.15(c) or 11.01; and and (viii) the amount of any credit life insurance premium refund which is not due to the related Obligor. Also, for each Loan delivered on the Closing Date that was originated on or after September 1August 31, 19981997, the Servicer shall deposit in the Principal and Interest Account 30 days' interest on the original principal balance of such Loan calculated at the applicable Loan Interest Rate. (c) The foregoing requirements for deposit in the Principal and Interest Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, the Servicing Fee and the Contingency Fee with respect to each Loan, and payments in the nature of prepayment penalties or premiums, late payment charges and assumption fees, to the extent received and permitted by Sections 5.01 and 5.03, together with the difference between any Liquidation Proceeds and the related Net Liquidation Proceeds, need not be deposited by the Servicer in the Principal and Interest Account. (d) Any interest earnings on funds held in the Principal and Interest Account paid by a Designated Depository Institution shall be for the account of the Servicer and may only be withdrawn from the applicable Principal and Interest Account by the Servicer immediately following its monthly remittance of the Pool Available Remittance Amount for the related Pool to the Indenture Trustee. Any reference herein to amounts on deposit in the Principal and Interest Account shall refer to amounts net of such investment earnings.