Investment of Funds in the Custodial Account. The depository institution at which the Custodial Account has been established may at the direction of the Servicer, invest the funds in the Custodial Account only in Eligible Investments, which shall mature not later than the Business Day prior to the Servicer Remittance Date next following the date of such investment. All income and gain realized from any such investment shall be for the benefit of the 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 Custodial Account by the Servicer out of its own funds immediately as such losses are realized.
Appears in 5 contracts
Samples: Transfer and Servicing Agreement (FBR Securitization, Inc.), Transfer and Servicing Agreement (First NLC Securitization, Inc.), Transfer and Servicing Agreement (FBR Securitization Trust 2005-1)
Investment of Funds in the Custodial Account. The depository institution at which the Custodial Account has been established may at the direction of the ServicerCompany, invest the funds in the Custodial Account only in Eligible Investments, which shall mature not later than the Business Day prior to the Servicer Remittance Date next following the date of such investment. All income and gain realized from any such investment shall be for the benefit of the Servicer Company 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 Custodial Account by the Servicer Company out of its own funds immediately as such losses are realized.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (ABFC 2006-Opt2 Trust), Sale and Servicing Agreement (ABFC 2006-Opt3 Trust)
Investment of Funds in the Custodial Account. The depository institution at which the Custodial Account has been established may at the direction of the ServicerCompany, invest the funds in the Custodial Account only in Eligible Investments, which shall mature not later than the Business Day prior to the Servicer Remittance Date next following the date of such investment. All Unless otherwise stated in the Trade Confirmation, all income and gain realized from any such investment shall be for the benefit of the Servicer Company 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 Custodial Account by the Servicer Company out of its own funds immediately as such losses are realized.
Appears in 1 contract
Samples: Sale and Servicing Agreement (FBR Securitization, Inc.)
Investment of Funds in the Custodial Account. The depository institution at which the Custodial Account has been established may at the direction of the Servicer, invest the funds in the Custodial Account only in Eligible Investments, which shall mature not later than the Business Day prior to the Servicer Remittance Date next following the date of such investment. All Unless otherwise stated in the Trade Confirmation, all income and gain realized from any such investment shall be for the benefit of the 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 Custodial Account by the Servicer out of its own funds immediately as such losses are realized.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (FBR Securitization, Inc.)
