Common use of Monthly Deposit Into Collection Account Clause in Contracts

Monthly Deposit Into Collection Account. In connection with an Asset that is (i) Acquired REO Property with third party property management (engaged, as a Subservicer, in accordance with the Transaction Documents), (ii) Acquired Property leased to and operated by a TRS Entity, or (iii) a JDC Loan for which a JDC Contractor has been engaged, the Manager may, for that specific Asset and to the extent it determines that the same would be in the best interests of the Company in accordance with the Servicing Standard (and taking into account market practice), permit (x) the Asset Proceeds of such specific Asset to be deposited into the Collection Account within one month of the Manager’s, the Servicer’s, the Subservicer’s or the JDC Contractor’s receipt thereof, and (y) Servicing Expenses then due and payable with respect to such specific Asset to be paid directly from such Asset Proceeds by the Manager, the Servicer, the Subservicer or the JDC Contractor prior to remittance to the Collection Account (without any such Asset Proceeds being held longer than otherwise expressly permitted herein).

Monthly Deposit Into Collection Account. In connection with an Asset that is (i) Acquired REO Property with third party property management (engaged, as a Subservicer, in accordance with the Transaction Documents), (ii) Acquired Property leased to and operated by a TRS Entity, or (iii) a JDC Loan for which a JDC Contractor has been engaged, the Manager may, for that specific Asset and to the extent it determines that the same would be in the best interests of the Company in accordance with the Servicing Standard (and taking into account market practice), permit (x) the Asset Proceeds of such specific Asset to be deposited into the Collection Account within one month of the Manager’s, the Servicer’s, the Subservicer’s or the JDC Contractor’s receipt thereof, and (y) Servicing Expenses then due and payable with respect to such specific Asset to be paid directly from such Asset Proceeds by the Manager, the Servicer, the Subservicer or the JDC Contractor prior to remittance to the Collection Account (without any such Asset Proceeds being held longer than otherwise expressly permitted herein).herein).‌‌