Establishment of the Securities Account. The Seller or the Servicer on its behalf shall establish, on or before the date any Rated Retained Security becomes a part of the Collateral, an account with the Securities Intermediary to which financial assets may be credited (the “Securities Account”) pursuant to Section 8.11. Upon receipt of any Collections to the Securities Account the Servicer shall cause the transfer of such Collections to the Collection Account by the close of business on the Business Day after such Collections are so received into the Securities Account.
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Samples: Sale and Servicing Agreement (Capitalsource Inc), Sale and Servicing Agreement (Capitalsource Inc), Sale and Servicing Agreement (Capitalsource Inc)
Establishment of the Securities Account. The Seller or the Servicer on its behalf shall establish, on or before the date any Rated Retained Security becomes a part of the Collateral, an account with the Securities Intermediary to which financial assets may be credited (the “Securities Account”) pursuant to Section 8.11. Upon receipt of any Collections to the Securities Account the Servicer shall cause the transfer of such Collections to the Collection Account by the close of business on the Business Day after such Collections are so received into the Securities Account.. 104
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