Common use of Excess Proceeds Account Clause in Contracts

Excess Proceeds Account. (a) The Trustee shall establish and maintain one or more accounts (collectively, the "Excess Proceeds Account") in which the Master Servicer shall, on behalf of the Trust Fund, deposit or cause to be deposited on a daily basis, or as and when received from the Sub-Servicers, the Excess Proceeds, if any, with respect to each Mortgage Loan as to which an REO Disposition occurs. The Excess Proceeds Account shall be maintained as a segregated account, separate and apart from trust funds created for mortgage pass-through certificates of other series, from funds of investors, from funds or other assets of the Trustee, and from the other accounts of the Trustee. (b) On or before 2:00 P.M. Los Angeles time on each Certificate Account Deposit Date, the Trustee shall withdraw or cause to be withdrawn from the Excess Proceeds Account, to the extent of the amount on deposit therein at such time, and deposit or cause to be deposited in the Certificate Account, by wire transfer of immediately available funds, an amount equal to the lesser of (i) the amount, if any, on deposit in the Excess Proceeds Account as of the close of business on the related Determination Date and (ii)(A) the sum of the aggregate amount of all Realized Losses allocated among the Certificates on any previous Distribution Date pursuant to Section 4.04 and the aggregate amount of all Realized Losses to be allocated among the Certificates on the related Distribution Date pursuant to Section 4.04 minus (B) the aggregate amount of all distributions allocated among the Certificateholders on any previous Distribution Date in accordance with Section 4.01(b)(xx), (xxi), or (xxii) or in accordance with Section 4.01(f). (c) If the amount on deposit in the Excess Proceeds Account as of the close of business on any Determination Date would exceed the product of 1.00% and the aggregate Certificate Principal Balance of all of the Certificates outstanding immediately after the close of business on the related Distribution Date, the Trustee shall, on or before 2:00 P.M. Los Angeles time on the related Certificate Account Deposit Date, withdraw or cause to be withdrawn from the Excess Proceeds Account, to the extent of the amount on deposit therein at such time, and deposit or cause to be deposited in the Certificate Account, by wire transfer of immediately available funds, the excess of such amount over such product. (d) The Excess Proceeds Account shall be an Eligible Account in accordance with the definition of "Excess Proceeds Account" in Section 1. 01. The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Excess Proceeds Account to invest the funds in the Excess Proceeds Account in one or more Permitted Instruments designated in the name of the Trustee for the benefit of the Certificateholders, each of which Permitted Instruments shall be held to maturity, unless payable on demand, and shall mature, unless payable on demand, not later than the Business Day immediately preceding the Certificate Account Deposit Date next following the date of such investment (except that if such Permitted Instrument is an obligation of the institution with which the Excess Proceeds Account is maintained, then such Permitted Instrument shall mature not later than such Certificate Account Deposit Date). All income and gain realized from any such investment as well as any interest earned on deposits in the Excess Proceeds Account shall be for the benefit of the Certificateholders and shall be held in the Excess Proceeds Account (or in Permitted Instruments in which the funds in the Excess Proceeds Account are invested) until transferred from the Excess Proceeds Account to the Certificate Account in accordance with Section 3.25(b) or (c). The amount of any loss incurred in respect of any such investment shall be borne by the Certificateholders without any right of reimbursement. (e) As part of each Determination Date Report delivered to the Trustee in accordance with Section 4.03(a), the Master Servicer shall provide information with respect to the amount, if any, of Excess Proceeds deposited in the Excess Proceeds Account in respect of each Mortgage Loan as to which an REO Disposition occurred during the related Prepayment Period. (f) The Trustee shall promptly provide notice to the Depositor and the Master Servicer of the initial location of the Excess Proceeds Account and shall promptly provide notice to the Depositor and the Master Servicer of the location of the Excess Proceeds Account after any change in location of the Excess Proceeds Account.

Excess Proceeds Account. (a) The Trustee shall establish and maintain one or more accounts (collectively, the "Excess Proceeds Account") in which the Master Servicer shall, on behalf of the Trust Fund, deposit or cause to be deposited on a daily basis, or as and when received from the Sub-Servicers, the Excess Proceeds, if any, with respect to each Mortgage Loan as to which an REO Disposition occurs. The Excess Proceeds Account shall be maintained as a segregated account, separate and apart from trust funds created for mortgage pass-through certificates of other series, from funds of investors, from funds or other assets of the Trustee, and from the other accounts of the Trustee. (b) On or before 2:00 P.M. Los Angeles time on each Certificate Account Deposit Date, the Trustee shall withdraw or cause to be withdrawn from the Excess Proceeds Account, to the extent of the amount on deposit therein at such time, and deposit or cause to be deposited in the Certificate Account, by wire transfer of immediately available funds, an amount equal to the lesser of (i) the amount, if any, on deposit in the Excess Proceeds Account as of the close of business on the related Determination Date and (ii)(A) the sum of the aggregate amount of all Realized Losses allocated among the Certificates on any previous Distribution Date pursuant to Section 4.04 and the aggregate amount of all Realized Losses to be allocated among the Certificates on the related Distribution Date pursuant to Section 4.04 minus (B) the aggregate amount of all distributions allocated among the Certificateholders on any previous Distribution Date in accordance with Section 4.01(b)(xx4.01(b)(xii), (xxixiii), (xiv), or (xxiixv) or in accordance with Section 4.01(f). (c) If the amount on deposit in the Excess Proceeds Account as of the close of business on any Determination Date would exceed the product of 1.00% and the aggregate Certificate Principal Balance of all of the Certificates outstanding immediately after the close of business on the related Distribution Date, the Trustee shall, on or before 2:00 P.M. Los Angeles time on the related Certificate Account Deposit Date, withdraw or cause to be withdrawn from the Excess Proceeds Account, to the extent of the amount on deposit therein at such time, and deposit or cause to be deposited in the Certificate Account, by wire transfer of immediately available funds, the excess of such amount over such product. (d) The Excess Proceeds Account shall be an Eligible Account in accordance with the definition of "Excess Proceeds Account" in Section 1. 01. The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Excess Proceeds Account to invest the funds in the Excess Proceeds Account in one or more Permitted Instruments designated in the name of the Trustee for the benefit of the Certificateholders, each of which Permitted Instruments shall be held to maturity, unless payable on demand, and shall mature, unless payable on demand, not later than the Business Day immediately preceding the Certificate Account Deposit Date next following the date of such investment (except that if such Permitted Instrument is an obligation of the institution with which the Excess Proceeds Account is maintained, then such Permitted Instrument shall mature not later than such Certificate Account Deposit Date). All income and gain realized from any such investment as well as any interest earned on deposits in the Excess Proceeds Account shall be for the benefit of the Certificateholders and shall be held in the Excess Proceeds Account (or in Permitted Instruments in which the funds in the Excess Proceeds Account are invested) until transferred from the Excess Proceeds Account to the Certificate Account in accordance with Section 3.25(b) or (c). The amount of any loss incurred in respect of any such investment shall be borne by the Certificateholders without any right of reimbursement. (e) As part of each Determination Date Report delivered to the Trustee in accordance with Section 4.03(a), the Master Servicer shall provide information with respect to the amount, if any, of Excess Proceeds deposited in the Excess Proceeds Account in respect of each Mortgage Loan as to which an REO Disposition occurred during the related Prepayment Period. (f) The Trustee shall promptly provide notice to the Depositor and the Master Servicer of the initial location of the Excess Proceeds Account and shall promptly provide notice to the Depositor and the Master Servicer of the location of the Excess Proceeds Account after any change in location of the Excess Proceeds Account.

Excess Proceeds Account. (a) The Trustee shall establish and maintain one or more accounts (collectively, the "Excess Proceeds Account") in which the Master Servicer shall, on behalf of the Trust Fund, deposit or cause to be deposited on a daily basis, or as and when received from the Sub-Servicers, the Excess Proceeds, if any, with respect to each Mortgage Loan as to which an REO Disposition occurs. The Excess Proceeds Account shall be maintained as a segregated account, separate and apart from trust funds created for mortgage pass-through certificates Securities of other series, from funds of investors, from funds or other assets of the Trustee, and from the other accounts of the Trustee. (b) On or before 2:00 P.M. Los Angeles time (Pacific Standard Time) on each Certificate Security Account Deposit Date, the Trustee shall withdraw or cause to be withdrawn from the Excess Proceeds Account, to the extent of the amount on deposit therein at such time, and deposit or cause to be deposited in the Certificate Security Account, by wire transfer of immediately available funds, an amount equal to the lesser of (i) the amount, if any, on deposit in the Excess Proceeds Account as of the close of business on the related Determination Date and (ii)(A) the sum of the aggregate amount of all Realized Losses allocated among the Certificates Securities on any previous Distribution Date pursuant to Section 4.04 and the aggregate amount of all Realized Losses to be allocated among the Certificates Securities on the related Distribution Date pursuant to Section 4.04 minus (B) the aggregate amount of all distributions allocated among the Certificateholders Securityholders on any previous Distribution Date in accordance with Section 4.01(b)(xx), (xxi), or (xxii) or in accordance with Section 4.01(f)relating to the reimbursement of Realized Losses. (c) If the amount on deposit in the Excess Proceeds Account as of the close of business on any Determination Date would exceed the product of 1.00% and the aggregate Certificate Security Principal Balance of all of the Certificates Securities outstanding immediately after the close of business on the related Distribution Date, the Trustee shall, on or before 2:00 P.M. Los Angeles time (Pacific Standard Time) on the related Certificate Security Account Deposit Date, withdraw or cause to be withdrawn from the Excess Proceeds Account, to the extent of the amount on deposit therein at such time, and deposit or cause to be deposited in the Certificate Security Account, by wire transfer of immediately available funds, the excess of such amount over such product. (d) The Excess Proceeds Account shall be an Eligible Account in accordance with the definition of "Excess Proceeds Account" in Section 1. 01. The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Excess Proceeds Account to invest the funds in the Excess Proceeds Account in one or more Permitted Instruments designated in the name of the Trustee for the benefit of the CertificateholdersSecurityholders, each of which Permitted Instruments shall be held to maturity, unless payable on demand, and shall mature, unless payable on demand, not later than the Business Day immediately preceding the Certificate Security Account Deposit Date next following the date of such investment (except that if such Permitted Instrument is an obligation of the institution with which the Excess Proceeds Account is maintained, then such Permitted Instrument shall mature not later than such Certificate Security Account Deposit Date). All income and gain realized from any such investment as well as any interest earned on deposits in the Excess Proceeds Account shall be for the benefit of the Certificateholders Securityholders and shall be held in the Excess Proceeds Account (or in Permitted Instruments in which the funds in the Excess Proceeds Account are invested) until transferred from the Excess Proceeds Account to the Certificate Security Account in accordance with Section 3.25(b3.24(b) or (c). The amount of any loss incurred in respect of any such investment shall be borne by the Certificateholders Securityholders without any right of reimbursement. (e) As part of each Determination Date Report delivered to the Trustee in accordance with Section 4.03(a), the Master Servicer shall provide information with respect to the amount, if any, of Excess Proceeds deposited in the Excess Proceeds Account in respect of each Mortgage Loan as to which an REO Disposition occurred during the related Prepayment Period. (f) The Trustee shall promptly provide notice to the Depositor Seller and the Master Servicer of the initial location of the Excess Proceeds Account and shall promptly provide notice to the Depositor Seller and the Master Servicer of the location of the Excess Proceeds Account after any change in location of the Excess Proceeds Account.

Excess Proceeds Account. (a) The Trustee shall establish and maintain one or more accounts (collectively, the "Excess Proceeds Account") in which the Master Servicer shall, on behalf of the Trust Fund, deposit or cause to be deposited on a daily basis, or as and when received from the Sub-Servicers, the Excess Proceeds, if any, with respect to each Mortgage Loan as to which an REO Disposition occurs. The Excess Proceeds Account shall be maintained as a segregated account, separate and apart from trust funds created for mortgage pass-through certificates of other series, from funds of investors, from funds or other assets of the Trustee, and from the other accounts of the Trustee. (b) On or before 2:00 P.M. Los Angeles time on each Certificate Account Deposit Date, the Trustee shall withdraw or cause to be withdrawn from the Excess Proceeds Account, to the extent of the amount on deposit therein at such time, and deposit or cause to be deposited in the Certificate Account, by wire transfer of immediately available funds, an amount equal to the lesser of (i) the amount, if any, on deposit in the Excess Proceeds Account as of the close of business on the related Determination Date and (ii)(A) the sum of the aggregate amount of all Realized Losses allocated among the Certificates on any previous Distribution Date pursuant to Section 4.04 and the aggregate amount of all Realized Losses to be allocated among the Certificates on the related Distribution Date pursuant to Section 4.04 minus (B) the aggregate amount of all distributions allocated among the Certificateholders on any previous Distribution Date in accordance with Section 4.01(b)(xx4.01(b)(x), (xxi), xi) or (xxiixii) or in accordance with Section 4.01(f). (c) If the amount on deposit in the Excess Proceeds Account as of the close of business on any Determination Date would exceed the product of 1.00% and the aggregate Certificate Principal Balance of all of the Certificates outstanding immediately after the close of business on the related Distribution Date, the Trustee shall, on or before 2:00 P.M. Los Angeles time on the related Certificate Account Deposit Date, withdraw or cause to be withdrawn from the Excess Proceeds Account, to the extent of the amount on deposit therein at such time, and deposit or cause to be deposited in the Certificate Account, by wire transfer of immediately available funds, the excess of such amount over such product. (d) The Excess Proceeds Account shall be an Eligible Account in accordance with the definition of "Excess Proceeds Account" in Section 1. 01. The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Excess Proceeds Account to invest the funds in the Excess Proceeds Account in one or more Permitted Instruments designated in the name of the Trustee for the benefit of the Certificateholders, each of which Permitted Instruments shall be held to maturity, unless payable on demand, and shall mature, unless payable on demand, not later than the Business Day immediately preceding the Certificate Account Deposit Date next following the date of such investment (except that if such Permitted Instrument is an obligation of the institution with which the Excess Proceeds Account is maintained, then such Permitted Instrument shall mature not later than such Certificate Account Deposit Date). All income and gain realized from any such investment as well as any interest earned on deposits in the Excess Proceeds Account shall be for the benefit of the Certificateholders and shall be held in the Excess Proceeds Account (or in Permitted Instruments in which the funds in the Excess Proceeds Account are invested) until transferred from the Excess Proceeds Account to the Certificate Account in accordance with Section 3.25(b) or (c). The amount of any loss incurred in respect of any such investment shall be borne by the Certificateholders without any right of reimbursement. (e) As part of each Determination Date Report delivered to the Trustee in accordance with Section 4.03(a), the Master Servicer shall provide information with respect to the amount, if any, of Excess Proceeds deposited in the Excess Proceeds Account in respect of each Mortgage Loan as to which an REO Disposition occurred during the related Prepayment Period. (f) The Trustee shall promptly provide notice to the Depositor and the Master Servicer of the initial location of the Excess Proceeds Account and shall promptly provide notice to the Depositor and the Master Servicer of the location of the Excess Proceeds Account after any change in location of the Excess Proceeds Account.

Excess Proceeds Account. (a) The Trustee shall establish and maintain one or more accounts (collectively, the "Excess Proceeds Account") in which the Master Servicer shall, on behalf of the each Trust Fund, deposit or cause to be deposited on a daily basis, or as and when received from the Sub-Servicers, the Excess Proceeds, if any, with respect to each Mortgage Loan as to which an REO Disposition occurs. The Excess Proceeds Account shall be maintained as a segregated account, separate and apart from trust funds created for mortgage pass-through certificates of other series, from funds of investors, from funds or other assets of the Trustee, and from the other accounts of the Trustee. (b) On or before 2:00 P.M. Los Angeles time (Pacific Standard Time) on each Certificate Account Deposit Date, the Trustee shall withdraw or cause to be withdrawn from the entire amount on deposit in the Excess Proceeds Account, to the extent of the amount on deposit therein at such time, Account and shall deposit or cause to be deposited such amount in the Certificate Account, by wire transfer of immediately available funds, an amount equal to the lesser of (i) the amount, if any, on deposit in the Excess Proceeds Account as of the close of business on the related Determination Date and (ii)(A) the sum of the aggregate amount of all Realized Losses allocated among the Certificates on any previous Distribution Date pursuant to Section 4.04 and the aggregate amount of all Realized Losses to be allocated among the Certificates on the related Distribution Date pursuant to Section 4.04 minus (B) the aggregate amount of all distributions allocated among the Certificateholders on any previous Distribution Date in accordance with Section 4.01(b)(xx), (xxi), or (xxii) or in accordance with Section 4.01(f). (c) If the amount on deposit in the Excess Proceeds Account as of the close of business on any Determination Date would exceed the product of 1.00% and the aggregate Certificate Principal Balance of all of the Certificates outstanding immediately after the close of business on the related Distribution Date, the Trustee shall, on or before 2:00 P.M. Los Angeles time on the related Certificate Account Deposit Date, withdraw or cause to be withdrawn from the Excess Proceeds Account, to the extent of the amount on deposit therein at such time, and deposit or cause to be deposited in the Certificate Account, by wire transfer of immediately available funds, the excess of such amount over such product.[RESERVED] (d) The Excess Proceeds Account shall be an Eligible Account in accordance with the definition of "Excess Proceeds Account" in Section 1. 01. The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Excess Proceeds Account to invest the funds in the Excess Proceeds Account in one or more Permitted Instruments designated in the name of the Trustee for the benefit of the Certificateholders, each of which Permitted Instruments shall be held to maturity, unless payable on demand, and shall mature, unless payable on demand, not later than the Business Day immediately preceding the Certificate Account Deposit Date next following the date of such investment (except that if such Permitted Instrument is an obligation of the institution with which the Excess Proceeds Account is maintained, then such Permitted Instrument shall mature not later than such Certificate Account Deposit Date). All income and gain realized from any such investment as well as any interest earned on deposits in the Excess Proceeds Account shall be for the benefit of the Certificateholders and shall be held in the Excess Proceeds Account (or in Permitted Instruments in which the funds in the Excess Proceeds Account are invested) until transferred from the Excess Proceeds Account to the Certificate Account in accordance with Section 3.25(b3.24(b) or (c). The amount of any loss incurred in respect of any such investment shall be borne by the Certificateholders without any right of reimbursement. (e) As part of each Determination Date Report delivered to the Trustee in accordance with Section 4.03(a), the Master Servicer shall provide information with respect to the amount, if any, of Excess Proceeds deposited in the Excess Proceeds Account in respect of each Mortgage Loan as to which an REO Disposition occurred during the related Prepayment Period. (f) The Trustee shall promptly provide notice to the Depositor Seller and the Master Servicer of the initial location of the Excess Proceeds Account and shall promptly provide notice to the Depositor Seller and the Master Servicer of the location of the Excess Proceeds Account after any change in location of the Excess Proceeds Account.

Excess Proceeds Account. (a) The Trustee shall establish and maintain one or more accounts (collectively, the "Excess Proceeds Account") in which the Master Servicer shall, on behalf of the Trust Fund, deposit or cause to be deposited on a daily basis, or as and when received from the Sub-Servicers, the Excess Proceeds, if any, with respect to each Mortgage Loan as to which an REO Disposition occurs. The Excess Proceeds Account shall be maintained as a segregated account, separate and apart from trust funds created for mortgage pass-through certificates of other series, from funds of investors, from funds or other assets of the Trustee, and from the other accounts of the Trustee. (b) On or before 2:00 P.M. Los Angeles time on each Certificate Account Deposit Date, the Trustee shall withdraw or cause to be withdrawn from the Excess Proceeds Account, to the extent of the amount on deposit therein at such time, and deposit or cause to be deposited in the Certificate Account, by wire transfer of immediately available funds, an amount equal to the lesser of (i) the amount, if any, on deposit in the Excess Proceeds Account as of the close of business on the related Determination Date and (ii)(A) the sum of the aggregate amount of all Realized Losses allocated among the Certificates on any previous Distribution Date pursuant to Section 4.04 and the aggregate amount of all Realized Losses to be allocated among the Certificates on the related Distribution Date pursuant to Section 4.04 minus (B) the aggregate amount of all distributions allocated among the Certificateholders on any previous Distribution Date in accordance with Section 4.01(b)(xx4.01(b)(xi), (xvi), (xvii), (xviii), (xxi), ) or (xxii) or in accordance with Section 4.01(f4.01(i). (c) If the amount on deposit in the Excess Proceeds Account as of the close of business on any Determination Date would exceed the product of 1.00% and the aggregate Certificate Principal Balance of all of the Certificates outstanding immediately after the close of business on the related Distribution Date, the Trustee shall, on or before 2:00 P.M. Los Angeles time on the related Certificate Account Deposit Date, withdraw or cause to be withdrawn from the Excess Proceeds Account, to the extent of the amount on deposit therein at such time, and deposit or cause to be deposited in the Certificate Account, by wire transfer of immediately available funds, the excess of such amount over such product. (d) The Excess Proceeds Account shall be an Eligible Account in accordance with the definition of "Excess Proceeds Account" in Section 1. 01. The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Excess Proceeds Account to invest the funds in the Excess Proceeds Account in one or more Permitted Instruments designated in the name of the Trustee for the benefit of the Certificateholders, each of which Permitted Instruments shall be held to maturity, unless payable on demand, and shall mature, unless payable on demand, not later than the Business Day immediately preceding the Certificate Account Deposit Date next following the date of such investment (except that if such Permitted Instrument is an obligation of the institution with which the Excess Proceeds Account is maintained, then such Permitted Instrument shall mature not later than such Certificate Account Deposit Date). All income and gain realized from any such investment as well as any interest earned on deposits in the Excess Proceeds Account shall be for the benefit of the Certificateholders and shall be held in the Excess Proceeds Account (or in Permitted Instruments in which the funds in the Excess Proceeds Account are invested) until transferred from the Excess Proceeds Account to the Certificate Account in accordance with Section 3.25(b) or (c). The amount of any loss incurred in respect of any such investment shall be borne by the Certificateholders without any right of reimbursement. (e) As part of each Determination Date Report delivered to the Trustee in accordance with Section 4.03(a), the Master Servicer shall provide information with respect to the amount, if any, of Excess Proceeds deposited in the Excess Proceeds Account in respect of each Mortgage Loan as to which an REO Disposition occurred during the related Prepayment Period. (f) The Trustee shall promptly provide notice to the Depositor and the Master Servicer of the initial location of the Excess Proceeds Account and shall promptly provide notice to the Depositor and the Master Servicer of the location of the Excess Proceeds Account after any change in location of the Excess Proceeds Account.

Excess Proceeds Account. (a) The Trustee shall establish and maintain one or more accounts (collectively, the "Excess Proceeds Account") in which the Master Servicer shall, on behalf of the Trust Fund, deposit or cause to be deposited on a daily basis, or as and when received from the Sub-Servicers, the Excess Proceeds, if any, with respect to each Mortgage Loan as to which an REO Disposition occurs. The Excess Proceeds Account shall be maintained as a segregated account, separate and apart from trust funds created for mortgage pass-through certificates of other series, from funds of investors, from funds or other assets of the Trustee, and from the other accounts of the Trustee. (b) On or before 2:00 P.M. Los Angeles time on each Certificate Account Deposit Date, the Trustee shall withdraw or cause to be withdrawn from the Excess Proceeds Account, to the extent of the amount on deposit therein at such time, and deposit or cause to be deposited in the Certificate Account, by wire transfer of immediately available funds, an amount equal to the lesser of (i) the amount, if any, on deposit in the Excess Proceeds Account as of the close of business on the related Determination Date and (ii)(A) the sum of the aggregate amount of all Realized Losses allocated among the Certificates on any previous Distribution Date pursuant to Section 4.04 and the aggregate amount of all Realized Losses to be allocated among the Certificates on the related Distribution Date pursuant to Section 4.04 minus (B) the aggregate amount of all distributions allocated among the Certificateholders on any previous Distribution Date in accordance with Section 4.01(b)(xx4.01(b)(xiii), (xxixiv), (xv), (xvi), (xxix), (xxx), (xxxi) or (xxiixxxii) or in accordance with Section 4.01(f). (c) If the amount on deposit in the Excess Proceeds Account as of the close of business on any Determination Date would exceed the product of 1.00% and the aggregate Certificate Principal Balance of all of the Certificates outstanding immediately after the close of business on the related Distribution Date, the Trustee shall, on or before 2:00 P.M. Los Angeles time on the related Certificate Account Deposit Date, withdraw or cause to be withdrawn from the Excess Proceeds Account, to the extent of the amount on deposit therein at such time, and deposit or cause to be deposited in the Certificate Account, by wire transfer of immediately available funds, the excess of such amount over such product. (d) The Excess Proceeds Account shall be an Eligible Account in accordance with the definition of "Excess Proceeds Account" in Section 1. 01. The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Excess Proceeds Account to invest the funds in the Excess Proceeds Account in one or more Permitted Instruments designated in the name of the Trustee for the benefit of the Certificateholders, each of which Permitted Instruments shall be held to maturity, unless payable on demand, and shall mature, unless payable on demand, not later than the Business Day immediately preceding the Certificate Account Deposit Date next following the date of such investment (except that if such Permitted Instrument is an obligation of the institution with which the Excess Proceeds Account is maintained, then such Permitted Instrument shall mature not later than such Certificate Account Deposit Date). All income and gain realized from any such investment as well as any interest earned on deposits in the Excess Proceeds Account shall be for the benefit of the Certificateholders and shall be held in the Excess Proceeds Account (or in Permitted Instruments in which the funds in the Excess Proceeds Account are invested) until transferred from the Excess Proceeds Account to the Certificate Account in accordance with Section 3.25(b) or (c). The amount of any loss incurred in respect of any such investment shall be borne by the Certificateholders without any right of reimbursement. (e) As part of each Determination Date Report delivered to the Trustee in accordance with Section 4.03(a), the Master Servicer shall provide information with respect to the amount, if any, of Excess Proceeds deposited in the Excess Proceeds Account in respect of each Mortgage Loan as to which an REO Disposition occurred during the related Prepayment Period. (f) The Trustee shall promptly provide notice to the Depositor and the Master Servicer of the initial location of the Excess Proceeds Account and shall promptly provide notice to the Depositor and the Master Servicer of the location of the Excess Proceeds Account after any change in location of the Excess Proceeds Account.

Excess Proceeds Account. (a) The Trustee shall establish and maintain one or more accounts (collectively, the "Excess Proceeds Account") in which the Master Servicer shall, on behalf of the Trust Fund, deposit or cause to be deposited on a daily basis, or as and when received from the Sub-Servicers, the Excess Proceeds, if any, with respect to each Mortgage Loan as to which an REO Disposition occurs. The Excess Proceeds Account shall be maintained as a segregated account, separate and apart from trust funds created for mortgage pass-through certificates of other series, from funds of investors, from funds or other assets of the Trustee, and from the other accounts of the Trustee. (b) On or before 2:00 P.M. Los Angeles time on each Certificate Account Deposit Date, the Trustee shall withdraw or cause to be withdrawn from the Excess Proceeds Account, to the extent of the amount on deposit therein at such time, and deposit or cause to be deposited in the Certificate Account, by wire transfer of immediately available funds, an amount equal to the lesser of (i) the amount, if any, on deposit in the Excess Proceeds Account as of the close of business on the related Determination Date and (ii)(A) the sum of the aggregate amount of all Realized Losses allocated among the Certificates on any previous Distribution Date pursuant to Section 4.04 and the aggregate amount of all Realized Losses to be allocated among the Certificates on the related Distribution Date pursuant to Section 4.04 minus (B) the aggregate amount of all distributions allocated among the Certificateholders on any previous Distribution Date in accordance with Section 4.01(b)(xx4.01(b)(xxii), (xxixxiii), or (xxiixxiv) or in accordance with Section 4.01(f). (c) If the amount on deposit in the Excess Proceeds Account as of the close of business on any Determination Date would exceed the product of 1.00% and the aggregate Certificate Principal Balance of all of the Certificates outstanding immediately after the close of business on the related Distribution Date, the Trustee shall, on or before 2:00 P.M. Los Angeles time on the related Certificate Account Deposit Date, withdraw or cause to be withdrawn from the Excess Proceeds Account, to the extent of the amount on deposit therein at such time, and deposit or cause to be deposited in the Certificate Account, by wire transfer of immediately available funds, the excess of such amount over such product. (d) The Excess Proceeds Account shall be an Eligible Account in accordance with the definition of "Excess Proceeds Account" in Section 1. 01. The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Excess Proceeds Account to invest the funds in the Excess Proceeds Account in one or more Permitted Instruments designated in the name of the Trustee for the benefit of the Certificateholders, each of which Permitted Instruments shall be held to maturity, unless payable on demand, and shall mature, unless payable on demand, not later than the Business Day immediately preceding the Certificate Account Deposit Date next following the date of such investment (except that if such Permitted Instrument is an obligation of the institution with which the Excess Proceeds Account is maintained, then such Permitted Instrument shall mature not later than such Certificate Account Deposit Date). All income and gain realized from any such investment as well as any interest earned on deposits in the Excess Proceeds Account shall be for the benefit of the Certificateholders and shall be held in the Excess Proceeds Account (or in Permitted Instruments in which the funds in the Excess Proceeds Account are invested) until transferred from the Excess Proceeds Account to the Certificate Account in accordance with Section 3.25(b) or (c). The amount of any loss incurred in respect of any such investment shall be borne by the Certificateholders without any right of reimbursement. (e) As part of each Determination Date Report delivered to the Trustee in accordance with Section 4.03(a), the Master Servicer shall provide information with respect to the amount, if any, of Excess Proceeds deposited in the Excess Proceeds Account in respect of each Mortgage Loan as to which an REO Disposition occurred during the related Prepayment Period. (f) The Trustee shall promptly provide notice to the Depositor and the Master Servicer of the initial location of the Excess Proceeds Account and shall promptly provide notice to the Depositor and the Master Servicer of the location of the Excess Proceeds Account after any change in location of the Excess Proceeds Account.

Excess Proceeds Account. (a) The Trustee shall establish and maintain one or more accounts (collectively, the "Excess Proceeds Account") in which the Master Servicer shall, on behalf of the Trust Fund, deposit or cause to be deposited on a daily basis, or as and when received from the Sub-Servicers, the Excess Proceeds, if any, with respect to each Mortgage Loan as to which an REO Disposition occurs. The Excess Proceeds Account shall be maintained as a segregated account, separate and apart from trust funds created for mortgage pass-through certificates of other series, from funds of investors, from funds or other assets of the Trustee, and from the other accounts of the Trustee. (b) On or before 2:00 P.M. Los Angeles time on each Certificate Account Deposit Date, the Trustee shall withdraw or cause to be withdrawn from the Excess Proceeds Account, to the extent of the amount on deposit therein at such time, and deposit or cause to be deposited in the Certificate Account, by wire transfer of immediately available funds, an amount equal to the lesser of (i) the amount, if any, on deposit in the Excess Proceeds Account as of the close of business on the related Determination Date and (ii)(A) the sum of the aggregate amount of all Realized Losses allocated among the Certificates on any previous Distribution Date pursuant to Section 4.04 and the aggregate amount of all Realized Losses to be allocated among the Certificates on the related Distribution Date pursuant to Section 4.04 minus (B) the aggregate amount of all distributions allocated among the Certificateholders on any previous Distribution Date in accordance with Section 4.01(b)(xx4.01(b)(xviii), (xix), (xx), (xxi), ) or (xxii) or in accordance with Section 4.01(f4.01(i). (c) If the amount on deposit in the Excess Proceeds Account as of the close of business on any Determination Date would exceed the product of 1.00% and the aggregate Certificate Principal Balance of all of the Certificates outstanding immediately after the close of business on the related Distribution Date, the Trustee shall, on or before 2:00 P.M. Los Angeles time on the related Certificate Account Deposit Date, withdraw or cause to be withdrawn from the Excess Proceeds Account, to the extent of the amount on deposit therein at such time, and deposit or cause to be deposited in the Certificate Account, by wire transfer of immediately available funds, the excess of such amount over such product. (d) The Excess Proceeds Account shall be an Eligible Account in accordance with the definition of "Excess Proceeds Account" in Section 1. 011.01. The Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Excess Proceeds Account to invest the funds in the Excess Proceeds Account in one or more Permitted Instruments designated in the name of the Trustee for the benefit of the Certificateholders, each of which Permitted Instruments shall be held to maturity, unless payable on demand, and shall mature, unless payable on demand, not later than the Business Day immediately preceding the Certificate Account Deposit Date next following the date of such investment (except that if such Permitted Instrument is an obligation of the institution with which the Excess Proceeds Account is maintained, then such Permitted Instrument shall mature not later than such Certificate Account Deposit Date). All income and gain realized from any such investment as well as any interest earned on deposits in the Excess Proceeds Account shall be for the benefit of the Certificateholders and shall be held in the Excess Proceeds Account (or in Permitted Instruments in which the funds in the Excess Proceeds Account are invested) until transferred from the Excess Proceeds Account to the Certificate Account in accordance with Section 3.25(b) or (c). The amount of any loss incurred in respect of any such investment shall be borne by the Certificateholders without any right of reimbursement. (e) As part of each Determination Date Report delivered to the Trustee in accordance with Section 4.03(a), the Master Servicer shall provide information with respect to the amount, if any, of Excess Proceeds deposited in the Excess Proceeds Account in respect of each Mortgage Loan as to which an REO Disposition occurred during the related Prepayment Period. (f) The Trustee shall promptly provide notice to the Depositor and the Master Servicer of the initial location of the Excess Proceeds Account and shall promptly provide notice to the Depositor and the Master Servicer of the location of the Excess Proceeds Account after any change in location of the Excess Proceeds Account.