Investment of Funds in the Accounts. (a) Each Servicer may invest the funds in the related Collection Account and the Trustee may (but is not obligated to) invest funds in the Distribution Account (for purposes of this Section 3.12, such Accounts are referred to as an "Investment Account"), in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trustee. The Trustee shall be entitled to sole possession (except with respect to investment direction of funds and any income and gain realized thereon over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trustee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trustee may:
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc), Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc Trust 2003-He2), Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc Series 2004-He1)
Investment of Funds in the Accounts. (a) Each Servicer may invest the funds in the related Collection Account and the Trustee may (but is not obligated to) invest funds in the Distribution Account (for purposes of this Section 3.12, such Accounts are referred to as an "Investment Account"), in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trustee. The Trustee shall be entitled to sole possession (except with respect to investment direction of funds and any income and gain realized thereon thereon) over each such investment, and and, upon request, any certificate or other instrument evidencing any such investment shall be delivered directly to the Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trustee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trustee may:
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2004-He2), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2004-He2), Pooling and Servicing Agreement (Morgan Stanley ABS Capital I Inc. Trust 2004-He3)
Investment of Funds in the Accounts. (a) Each The Servicer may invest the funds in the related Collection Account and the Trustee may (but is not obligated to) invest funds in the Distribution Account (for purposes of this Section 3.12, such Accounts are referred to as an "Investment Account"), in one or more Permitted Investments bearing interest or sold at a discount, and maturing, unless payable on demand no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement. All such Permitted Investments shall be held to maturity, unless payable on demand. Any investment of funds in an Investment Account shall be made in the name of the Trustee. The Trustee shall be entitled to sole possession (except with respect to investment direction of funds and any income and gain realized thereon over each such investment, and any certificate or other instrument evidencing any such investment shall be delivered directly to the Trustee or its agent, together with any document of transfer necessary to transfer title to such investment to the Trustee. In the event amounts on deposit in an Investment Account are at any time invested in a Permitted Investment payable on demand, the Trustee may:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Abs Mort Pass THR Certs Ser 2003-He3)
