Master Servicer Collection Account. (a) The Master Servicer shall establish and maintain the Master Servicer Collection Account in the name of the Master Servicer for the benefit of the Trustee on behalf of the Certificateholders. The Master Servicer Collection Account shall be an Eligible Account. The Master Servicer shall deposit or cause to be deposited into the Master Servicer Collection Account on a daily basis within one Business Day of receipt, except as otherwise specifically provided herein, the following payments and collections remitted by Subservicers or received by it in respect of the Mortgage Loans subsequent to the Cut-off Date (other than in respect of principal and interest due on the Mortgage Loans, other than Simple Interest Loans, on or before the Cut-off Date) and the following amounts required to be deposited hereunder:
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2004-2), Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Series 2004 1), Pooling and Servicing Agreement (Bsabs 2005-1)
