Master Servicer Collection Account. (a) The Master Servicer shall establish and maintain in the name of the Trustee, for the benefit of the Certificateholders, the Master Servicer Collection Account as a segregated trust account or accounts. The Master Servicer Collection Account may be a sub-account of the Distribution Account. The Master Servicer will deposit in the Master Servicer Collection Account as identified by the Master Servicer and as received by the Master Servicer, the following amounts:
(i) Any amounts withdrawn from a Protected Account or other permitted account;
(ii) Any Monthly Advance and any Compensating Interest Payments;
(iii) Any Insurance Proceeds, Liquidation Proceeds or Subsequent Recoveries received by or on behalf of the Master Servicer or which were not deposited in a Protected Account or other permitted account;
(iv) The repurchase price with respect to any Mortgage Loans repurchased and all proceeds of any Mortgage Loans or property acquired in connection with the optional termination of the trust;
(v) Any amounts required to be deposited with respect to losses on investments of deposits in an Account; and
(vi) Any other amounts received by or on behalf of the Master Servicer and required to be deposited in the Master Servicer Collection Account pursuant to this Agreement.
(b) All amounts deposited to the Master Servicer Collection Account shall be held by the Master Servicer in the name of the Trustee in trust for the benefit of the Certificateholders in accordance with the terms and provisions of this Agreement. The requirements for crediting the Master Servicer Collection Account or the Distribution Account shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of (i) prepayment or late payment charges or assumption, tax service, statement account or payoff, substitution, satisfaction, release and other like fees and charges and (ii) the items enumerated in Subsections 4.05(a)(i), (ii), (iii), (iv), (vi), (vii), (viii), (ix), (xi) and (xii) with respect to the Securities Administrator, need not be credited by the Master Servicer or the related Servicer to the Distribution Account or the Master Servicer Collection Account, as applicable. In the event that the Master Servicer shall deposit or cause to be deposited to the Distribution Account any amount not required to be credited thereto, the Securities Administrator, upon receipt of a written request therefor signed by a Servicing Offic...
Master Servicer Collection Account. Section 5.07 Permitted Withdrawals and Transfers from the Master Servicer Collection Account.
Master Servicer Collection Account. The separate Eligible Account created and maintained by the Master Servicer, on behalf of the Trustee, pursuant to Section 4.01. Funds in the Master Servicer Collection Account (exclusive of any earnings on investments made with funds deposited therein) shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.
Master Servicer Collection Account. (a) The Master Servicer shall establish and maintain in the name of the Trustee, for the benefit of the Certificateholders, the Master Servicer Collection Account as a segregated trust account or accounts. The Master Servicer will deposit in the Master Servicer Collection Account as identified by the Master Servicer and as received by the Master Servicer, the following amounts:
(i) Any amounts withdrawn from a Protected Account;
(ii) Any Monthly Advance and any Compensating Interest Payments;
(iii) Any Insurance Proceeds or Net Liquidation Proceeds received by or on behalf of the Master Servicer or which were not deposited in a Protected Account;
(iv) The Repurchase Price with respect to any Mortgage Loans purchased by the Mortgage Loan Seller or Section 2.02 or 2.03, any amounts which are to be treated pursuant to Section 2.04 of this Agreement as the payment of such a Repurchase Price, the Repurchase Price with respect to any Mortgage Loans purchased by EMC pursuant to Section 3.21, and all proceeds of any Mortgage Loans or property acquired with respect thereto repurchased by the Seller or its designee pursuant to Section 10.01;
(v) Any amounts required to be deposited with respect to losses on investments of deposits in an Account; and
(vi) Any other amounts received by or on behalf of the Master Servicer and required to be deposited in the Master Servicer Collection Account pursuant to this Agreement.
Master Servicer Collection Account. The separate Eligible Account created and initially maintained by the Master Servicer pursuant to Section 4.02 with a depository institution in the name of the Trustee for the benefit of the Certificateholders and designated "JPMorgan Chase Bank, in trust for registered holders of Bear Xxxxxxx Asset Backed Securities Trust 2004-SD2, Asset-Backed Certificates, Series 2004-SD2." Funds in the Master Servicer Collection Account shall be held in trust for the Certificateholders for the uses and purposes set forth in this Agreement.
Master Servicer Collection Account. 59 Section 4.03 PERMITTED WITHDRAWALS AND TRANSFERS FROM THE MASTER SERVICER COLLECTION ACCOUNT.......60 Section 4.04
Master Servicer Collection Account. 60 Section 4.03. PERMITTED WITHDRAWALS AND TRANSFERS FROM THE MASTER SERVICER COLLECTION ACCOUNT...........61 Section 4.04. DISTRIBUTION ACCOUNT......................................................................62 Section 4.05. PERMITTED WITHDRAWALS AND TRANSFERS FROM THE DISTRIBUTION ACCOUNT.........................63 ARTICLE V Certificates
Master Servicer Collection Account. (a) The Master Servicer shall establish and maintain in the name of the Trustee, for the benefit of the Certificateholders, the Master Servicer Collection Account as a segregated trust account or accounts. The Master Servicer will deposit in the Master Servicer Collection Account as identified by the Master Servicer and as received by the Master Servicer, the following amounts:
(i) Any amounts withdrawn from a Protected Account;
(ii) Any P&I Advance and any amounts in respect of Prepayment Interest Shortfalls;
(iii) Any Insurance Proceeds or Liquidation Proceeds received by or on behalf of the Master Servicer;
(iv) The Repurchase Price with respect to any Mortgage Loans purchased by the related Originator pursuant to Section 2.03 and all proceeds of any Mortgage Loans or property acquired with respect thereto repurchased by the Class CE Certificateholder or its designee pursuant to Section 9.01;
(v) Any amounts required to be deposited with respect to losses on investments of deposits in an Account; and
(vi) Any other amounts received by or on behalf of the Master Servicer and required to be deposited in the Master Servicer Collection Account pursuant to this Agreement.
Master Servicer Collection Account. (i) On or prior to January 1, 2014, the Master Servicer shall establish and maintain an Eligible Account entitled “Master Servicer Collection Account of U.S. Bank National Association, as Trustee for the benefit of Sequoia Mortgage Trust 2012-2 Holders of Mortgage Pass-Through Certificates.” The Master Servicer shall hold the Master Servicer Collection Account and all money and other property therein in trust for the benefit of the Certificateholders. The Master Servicer shall, promptly upon receipt from the Servicers on each Servicer Remittance Date, deposit into the Master Servicer Collection Account and retain on deposit therein until the related Master Servicer Remittance Date the following amounts:
(A) the aggregate of collections with respect to the Mortgage Loans remitted by the Servicers from the related Custodial Accounts in accordance with the Servicing Agreements;
(B) any amounts required to be deposited by the Master Servicer with respect to the Mortgage Loans for the related Due Period pursuant to this Agreement, including the amount of any Advances or Master Servicer Compensating Interest Payments with respect to the Mortgage Loans not paid by the Servicers or the Servicing Administrator; and
(C) any other amounts so required to be deposited in the Master Servicer Collection Account in the related Due Period pursuant to this Agreement.
(ii) On each Master Servicer Remittance Date, the Master Servicer shall, after making any permitted withdrawals therefrom pursuant to Section 4.01(b)(iv) below, remit the Available Distribution Amount on deposit in the Master Servicer Collection Account to the Securities Administrator for deposit into the Distribution Account as described in Section 4.01(c).
(iii) In the event a Servicer has remitted to the Master Servicer for deposit into the Master Servicer Collection Account in error any amount not required to be remitted to the Master Servicer pursuant to the definition of Available Distribution Amount, it may at any time direct the Master Servicer to withdraw such amount from the Master Servicer Collection Account for repayment to the Servicer by delivery of an Officer’s Certificate to the Master Servicer and the Trustee which describes the amount deposited in error.
(iv) The Master Servicer may, from time to time, before making any remittance to the Securities Administrator, withdraw from funds on deposit in the Master Servicer Collection Account and pay to itself and the Custodian any amounts permitted t...
Master Servicer Collection Account. The trust accounts or accounts created and maintained pursuant to Section 5.06 hereof, which shall be entitled “U.S. Bank National Association, as Trustee f/b/o Holders of Bear Xxxxxxx Asset Backed Securities I LLC, Asset Backed Certificates, Series 2005-AC7 - Master Servicer Collection Account”.
