Common use of Grantor Trust Certificate Account Clause in Contracts

Grantor Trust Certificate Account. (a) The Grantor Trustee shall establish and maintain a Grantor Trust Certificate Account titled "JPMorgan Chase Bank, as Grantor Trustee, for the benefit of the Grantor Trust Certificateholder, pursuant to the Grantor Trust Agreement, dated March 28, 2003, between Residential Funding Mortgage Securities II, Inc. and JPMorgan Chase Bank". The Grantor Trust Certificate Account shall be an Eligible Account. Pursuant to Section 3.03(i) of the Servicing Agreement, the Master Servicer shall cause to be deposited in the Grantor Trust Certificate Account on behalf of the Grantor Trustee on the Business Day prior to each Payment Date by wire transfer of immediately available funds an amount equal to the sum of the Interest Collections and Principal Collections for the immediately succeeding Payment Date. (b) The Grantor Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Grantor Trust Certificate Account to invest the funds in the Grantor Trust Certificate Account in Permitted Investments designated in the name of the Grantor Trustee for the benefit of the Grantor Trust Certificateholder, which investments shall mature not later than the Business Day preceding the Payment Date following the date of such investment (except that (i) any investment in the institution with which the Grantor Trust Certificate Account is maintained may mature on such Payment Date and (ii) any other investment may mature on such Payment Date if the Grantor Trustee shall advance funds on such Payment Date to the Grantor Trust Certificate Account in the amount payable on such investment on such Payment Date, pending receipt thereof to the extent necessary to make distributions on the Grantor Trust Certificate) and shall not be sold or disposed of prior to maturity. All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Grantor Trust Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement.

Grantor Trust Certificate Account. (a) The Grantor Trustee shall establish and maintain a Grantor Trust Certificate Account titled "JPMorgan Chase Bank, as Grantor Trustee, for the benefit of the Grantor Trust Certificateholder, pursuant to the Grantor Trust Agreement, dated March 2829, 20032004, between Residential Funding Mortgage Securities II, Inc. and JPMorgan Chase Bank". The Grantor Trust Certificate Account shall be an Eligible Account. Pursuant to Section 3.03(i) of the Servicing Agreement, the Master Servicer shall cause to be deposited in the Grantor Trust Certificate Account on behalf of the Grantor Trustee on the Business Day prior to each Payment Date by wire transfer of immediately available funds an amount equal to the sum of the Interest Collections and Principal Collections for the immediately succeeding Payment Date. (b) The Grantor Trustee shall, upon written request from the Master Servicer, (i) hold funds on deposit in the Grantor Trust Certificate Account uninvested in a trust or deposit account of the Grantor Trustee, with no liability for interest or other compensation thereon, except as otherwise agreed in writing with the Master Servicer, or (ii) invest or cause the institution maintaining the Grantor Trust Certificate Account to invest the funds in the Grantor Trust Certificate Account in Permitted Investments designated in the name of the Grantor Trustee for the benefit of the Grantor Trust Certificateholder, which investments shall mature not later than the Business Day preceding the Payment Date following the date of such investment (except that (ia) any investment in if such Permitted Investment is an obligation of the institution with that maintains such account or a fund for which the Grantor Trust Certificate Account is maintained such institution or affiliate thereof serves as an investment advisor, administrator, shareholder servicing agent and/or custodian or sub-custodian, then such Permitted Investment may mature on such Payment Distribution Date and (iib) any other investment may mature on such Payment Date if the Grantor Trustee shall advance funds on such Payment Date to the Grantor Trust Certificate Account in the amount payable on such investment on such Payment Date, pending receipt thereof to the extent necessary to make distributions on the Grantor Trust Certificate) and shall not be sold or disposed of prior to maturity. All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Grantor Trust Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement.

Grantor Trust Certificate Account. (a) The Grantor Trustee shall establish and maintain a Grantor Trust Certificate Account titled "JPMorgan Chase Bank, as Grantor Trustee, for the benefit of the Grantor Trust Certificateholder, pursuant to the Grantor Trust Agreement, dated March 28December 23, 2003, between Residential Funding Mortgage Securities II, Inc. and JPMorgan Chase Bank". The Grantor Trust Certificate Account shall be an Eligible Account. Pursuant to Section 3.03(i) of the Servicing Agreement, the Master Servicer shall cause to be deposited in the Grantor Trust Certificate Account on behalf of the Grantor Trustee on the Business Day prior to each Payment Date by wire transfer of immediately available funds an amount equal to the sum of the Interest Collections and Principal Collections for the immediately succeeding Payment Date. (b) The Grantor Trustee shall, upon written request from the Master Servicer, (i) hold funds on deposit in the Grantor Trust Certificate Account uninvested in a trust or deposit account of the Grantor Trustee, with no liability for interest or other compensation thereon, except as otherwise agreed in writing with the Master Servicer, or (ii) invest or cause the institution maintaining the Grantor Trust Certificate Account to invest the funds in the Grantor Trust Certificate Account in Permitted Investments designated in the name of the Grantor Trustee for the benefit of the Grantor Trust Certificateholder, which investments shall mature not later than the Business Day preceding the Payment Date following the date of such investment (except that (ia) any investment in if such Permitted Investment is an obligation of the institution with that maintains such account or a fund for which the Grantor Trust Certificate Account is maintained such institution or affiliate thereof serves as an investment advisor, administrator, shareholder servicing agent and/or custodian or sub-custodian, then such Permitted Investment may mature on such Payment Distribution Date and (iib) any other investment may mature on such Payment Date if the Grantor Trustee shall advance funds on such Payment Date to the Grantor Trust Certificate Account in the amount payable on such investment on such Payment Date, pending receipt thereof to the extent necessary to make distributions on the Grantor Trust Certificate) and shall not be sold or disposed of prior to maturity. All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Grantor Trust Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement.

Grantor Trust Certificate Account. (a) The Grantor Trustee shall establish and maintain a Grantor Trust Certificate Account titled "JPMorgan Chase Bank, as Grantor Trustee, for the benefit of the Grantor Trust Certificateholder, pursuant to the Grantor Trust Agreement, dated March 28June 27, 2003, between Residential Funding Mortgage Securities II, Inc. and JPMorgan Chase Bank". The Grantor Trust Certificate Account shall be an Eligible Account. Pursuant to Section 3.03(i) of the Servicing Agreement, the Master Servicer shall cause to be deposited in the Grantor Trust Certificate Account on behalf of the Grantor Trustee on the Business Day prior to each Payment Date by wire transfer of immediately available funds an amount equal to the sum of the Interest Collections and Principal Collections for the immediately succeeding Payment Date. (b) The Grantor Trustee shall, upon written request from the Master Servicer, (i) hold funds on deposit in the Grantor Trust Certificate Account uninvested in a trust or deposit account of the Grantor Trustee, with no liability for interest or other compensation thereon, except as otherwise agreed in writing with the Master Servicer, or (ii) invest or cause the institution maintaining the Grantor Trust Certificate Account to invest the funds in the Grantor Trust Certificate Account in Permitted Investments designated in the name of the Grantor Trustee for the benefit of the Grantor Trust Certificateholder, which investments shall mature not later than the Business Day preceding the Payment Date following the date of such investment (except that (ia) any investment in if such Permitted Investment is an obligation of the institution with that maintains such account or a fund for which the Grantor Trust Certificate Account is maintained such institution or affiliate thereof serves as an investment advisor, administrator, shareholder servicing agent and/or custodian or sub-custodian, then such Permitted Investment may mature on such Payment Distribution Date and (iib) any other investment may mature on such Payment Date if the Grantor Trustee shall advance funds on such Payment Date to the Grantor Trust Certificate Account in the amount payable on such investment on such Payment Date, pending receipt thereof to the extent necessary to make distributions on the Grantor Trust Certificate) and shall not be sold or disposed of prior to maturity. All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Grantor Trust Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement.

Grantor Trust Certificate Account. (a) The Grantor Trustee shall establish and maintain a Grantor Trust Certificate Account titled "JPMorgan The Chase Manhattan Bank, as Grantor Trustee, for the benefit of the Grantor Trust Certificateholder, pursuant to the Grantor Trust Agreement, dated March 28June 26, 20031998, between Residential Funding Mortgage Securities II, Inc. and JPMorgan The Chase Manhattan Bank". The Grantor Trust Certificate Account shall be an Eligible Account. Pursuant to Section 3.03(i3.03 (i) of the Servicing Agreement, the Master Servicer shall cause to be deposited in the Grantor Trust Certificate Account on behalf of the Grantor Trustee on the Business Day prior to each Payment Date by wire transfer of immediately available funds an amount equal to the sum of the Interest Collections Remittance Amount and Principal Collections Remittance Amount for the immediately succeeding Payment Date. (b) The Grantor Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Grantor Trust Certificate Account to invest the funds in the Grantor Trust Certificate Account in Permitted Investments designated in the name of the Grantor Trustee for the benefit of the Grantor Trust Certificateholder, which investments shall mature not later than the Business Day next preceding the Payment Date next following the date of such investment (except that (i) any investment in the institution with which the Grantor Trust Certificate Account is maintained may mature on such Payment Date and (ii) any other investment may mature on such Payment Date if the Grantor Trustee shall advance funds on such Payment Date to the Grantor Trust Certificate Account in the amount payable on such investment on such Payment Date, pending receipt thereof to the extent necessary to make distributions on the Grantor Trust Certificate) and shall not be sold or disposed of prior to maturity. All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Grantor Trust Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement.

Grantor Trust Certificate Account. (a) The Grantor Trustee shall establish and maintain a Grantor Trust Certificate Account titled "JPMorgan Chase Bank, as Grantor Trustee, for the benefit of the Grantor Trust Certificateholder, pursuant to the Grantor Trust Agreement, dated March 28September 26, 20032002, between Residential Funding Mortgage Securities II, Inc. and JPMorgan Chase Bank". The Grantor Trust Certificate Account shall be an Eligible Account. Pursuant to Section 3.03(i3.03 (i) of the Servicing Agreement, the Master Servicer shall cause to be deposited in the Grantor Trust Certificate Account on behalf of the Grantor Trustee on the Business Day prior to each Payment Date by wire transfer of immediately available funds an amount equal to the sum of the Interest Collections and Principal Collections for the immediately succeeding Payment Date. (b) The Grantor Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Grantor Trust Certificate Account to invest the funds in the Grantor Trust Certificate Account in Permitted Investments designated in the name of the Grantor Trustee for the benefit of the Grantor Trust Certificateholder, which investments shall mature not later than the Business Day preceding the Payment Date following the date of such investment (except that (i) any investment in the institution with which the Grantor Trust Certificate Account is maintained may mature on such Payment Date and (ii) any other investment may mature on such Payment Date if the Grantor Trustee shall advance funds on such Payment Date to the Grantor Trust Certificate Account in the amount payable on such investment on such Payment Date, pending receipt thereof to the extent necessary to make distributions on the Grantor Trust Certificate) and shall not be sold or disposed of prior to maturity. All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Grantor Trust Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement.

Grantor Trust Certificate Account. (a) The Grantor Trustee shall establish and maintain a Grantor Trust Certificate Account titled "JPMorgan Chase Bank, as Grantor Trustee, for the benefit of the Grantor Trust Certificateholder, pursuant to the Grantor Trust Agreement, dated March 28January 3, 2003, between Residential Funding Mortgage Securities II, Inc. and JPMorgan Chase Bank". The Grantor Trust Certificate Account shall be an Eligible Account. Pursuant to Section 3.03(i) of the Servicing Agreement, the Master Servicer shall cause to be deposited in the Grantor Trust Certificate Account on behalf of the Grantor Trustee on the Business Day prior to each Payment Date by wire transfer of immediately available funds an amount equal to the sum of the Interest Collections and Principal Collections for the immediately succeeding Payment Date. (b) The Grantor Trustee shall, upon written request from the Master Servicer, invest or cause the institution maintaining the Grantor Trust Certificate Account to invest the funds in the Grantor Trust Certificate Account in Permitted Investments designated in the name of the Grantor Trustee for the benefit of the Grantor Trust Certificateholder, which investments shall mature not later than the Business Day preceding the Payment Date following the date of such investment (except that (i) any investment in the institution with which the Grantor Trust Certificate Account is maintained may mature on such Payment Date and (ii) any other investment may mature on such Payment Date if the Grantor Trustee shall advance funds on such Payment Date to the Grantor Trust Certificate Account in the amount payable on such investment on such Payment Date, pending receipt thereof to the extent necessary to make distributions on the Grantor Trust Certificate) and shall not be sold or disposed of prior to maturity. All income and gain realized from any such investment shall be for the benefit of the Master Servicer and shall be subject to its withdrawal or order from time to time. The amount of any losses incurred in respect of any such investments shall be deposited in the Grantor Trust Certificate Account by the Master Servicer out of its own funds immediately as realized without any right of reimbursement.