Common use of Maintenance of Custodial and Escrow Accounts after Reconstitution Clause in Contracts

Maintenance of Custodial and Escrow Accounts after Reconstitution. Notwithstanding anything herein to the contrary, in connection with (a) a Pass-Through Transfer, the Servicer shall maintain Custodial Accounts and Escrow Accounts in accordance with the related master servicer's requirements, and pursuant to the related Reconstitution Agreement, (b) an Agency Transfer, the Servicer shall maintain Custodial Accounts and Escrow Accounts in accordance with the requirements of FNMA, FHLMC or GNMA, as applicable, and (c) a Whole Loan Transfer, the Servicer shall maintain Custodial Accounts and Escrow Accounts in accordance with terms that are substantially similar to the terms of this Agreement. For purposes of this paragraph, the obligation to maintain Custodial Accounts and Escrow Accounts includes the obligation of the Servicer to remove amounts from such accounts that exceed the amount fully insured by the FDIC, if required by the applicable investor. In connection with any Pass-Through Transfer, Agency Transfer, or Whole Loan Transfer the Servicer shall be obligated to maintain the related Custodial Accounts and Escrow Accounts with such institutions required by the applicable investor, which institutions might not include the Servicer.

Maintenance of Custodial and Escrow Accounts after Reconstitution. Notwithstanding anything herein to the contrary, in connection with (a) a Pass-Through Transfer, the Servicer shall maintain Custodial Accounts and Escrow Accounts in accordance with the related master servicer's ’s requirements, and pursuant to the related Reconstitution Agreement, (b) an Agency Transfer, the Servicer shall maintain Custodial Accounts and Escrow Accounts in accordance with the requirements of FNMA, FHLMC or GNMA, as applicable, and (c) a Whole Loan Transfer, the Servicer shall maintain Custodial Accounts and Escrow Accounts in accordance with terms that are substantially similar to the terms of this Agreement. For purposes of this paragraph, the obligation to maintain Custodial Accounts and Escrow Accounts includes the obligation of the Servicer to remove amounts from such accounts that exceed the amount fully insured by the FDIC, if required by the applicable investor. In connection with any Pass-Through Transfer, Agency Transfer, or Whole Loan Transfer the Servicer shall be obligated to maintain the related Custodial Accounts and Escrow Accounts with such institutions required by the applicable investor, which institutions might not include the Servicer.