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

Establishment of Trust Certificate Account; Deposits in Trust Certificate Account. (a) The Trustee shall establish and maintain the Trust Certificate Account. The Trustee shall cause the following payments and collections in respect of the Underlying Certificates to be deposited directly into the Trust Certificate Account: (i) all distributions due and received on the Underlying Certificates subsequent to the Closing Date; (ii) any amounts received in connection with the sale of the Underlying Certificates pursuant to Section 6.01 in accordance with a plan of complete liquidation of the Trust Fund; and (iii) any other amounts specifically required to be deposited in the Trust Certificate Account hereunder. The foregoing requirements for deposit in the Trust Certificate Account shall be exclusive. (b) Funds in the Trust Certificate Account shall be held uninvested.

Appears in 4 contracts

Samples: Trust Agreement (RALI Series 2005-Qr1 Trust), Trust Agreement (Stanwich Asset Acceptance CO LLC), Trust Agreement (Residential Accredit Loans Inc)

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Establishment of Trust Certificate Account; Deposits in Trust Certificate Account. (a) The Trustee shall establish and maintain the Trust Certificate Account. The Trustee shall cause the following payments and collections in respect of the Underlying Certificates Certificate to be deposited directly into the Trust Certificate Account: (i) all distributions due and received on the Underlying Certificates Certificate subsequent to the Closing Date; (ii) any amounts received in connection with the sale of the Underlying Certificates Certificate pursuant to Section 6.01 in accordance with a plan of complete liquidation of the Trust Fund; and (iii) any other amounts specifically required to be deposited in the Trust Certificate Account hereunder. The foregoing requirements for deposit in the Trust Certificate Account shall be exclusive. (b) Funds in the Trust Certificate Account shall be held uninvested.

Appears in 3 contracts

Samples: Trust Agreement (Residential Accredit Loans Inc), Trust Agreement (Residential Asset Gmacm Mortgage Loan Trust 2004-Jr1), Trust Agreement (Residential Accredit Loans Inc)

Establishment of Trust Certificate Account; Deposits in Trust Certificate Account. (a) The Trustee Trust Administrator shall establish and maintain the Trust Certificate Account. The Trustee Trust Administrator shall cause the following payments and collections in respect of the Underlying Certificates to be deposited directly into the Trust Certificate Account: (i) all distributions due and received by it on the Underlying Certificates subsequent to the Closing Date; (ii) any amounts received in connection with the sale of the Underlying Certificates pursuant to Section 6.01 in accordance with a plan of complete liquidation of the Trust Fund5.04; and (iii) any other amounts specifically required to be deposited in the Trust Certificate Account hereunder. The foregoing requirements for deposit in the Trust Certificate Account shall be exclusive. (b) Funds in the Trust Certificate Account shall be held uninvested.

Appears in 1 contract

Samples: Trust Agreement (CSMC Trust 2007-5r)

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Establishment of Trust Certificate Account; Deposits in Trust Certificate Account. (a) The Trustee shall establish and maintain the Trust Certificate Account. The Trustee shall cause the following payments and collections in respect of the Underlying Certificates to be deposited directly into the Trust Certificate Account: (i) all distributions due and received by it on the Underlying Certificates subsequent to the Closing Date; (ii) any amounts received in connection with the sale of the Underlying Certificates pursuant to Section 6.01 in accordance with a plan of complete liquidation of the Trust Fund; and (iii) any other amounts specifically required to be deposited in the Trust Certificate Account hereunder. The foregoing requirements for deposit in the Trust Certificate Account shall be exclusive. (b) Funds in the Trust Certificate Account shall be held uninvested.

Appears in 1 contract

Samples: Trust Agreement (RFMSI Series 2004-Sr1 Trust)

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