Obligation of the Master Servicer in Respect of Collection Account. The Master Servicer shall enforce the obligation of the Servicers to establish and maintain Collection Accounts in accordance with this Agreement, with records to be kept with respect thereto on a Mortgage Loan by Mortgage Loan basis, into which accounts shall be deposited within two Business Days of receipt all collections of principal and interest on any Mortgage Loan and with respect to any REO Property received by the Servicers, including Principal Prepayments, Insurance Proceeds, Liquidation Proceeds, and advances made from each Servicer's own funds (less servicing compensation as permitted by Section 3.15) and all other amounts to be deposited in the Collection Account
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Merrill Lynch Mort Inv Inc Asst Back Certs Ser TMTS 2004 5he), Pooling and Servicing Agreement (Merrill Lynch Mort Inv Inc Asst Back Certs Ser TMTS 2004 3he), Pooling and Servicing Agreement (Terwin Mortgage Trust, Series 2004-11he)
Obligation of the Master Servicer in Respect of Collection Account. The Master Servicer shall enforce the obligation of the Servicers Servicer to establish and maintain Collection Accounts in accordance with this Agreement, with records to be kept with respect thereto on a Mortgage Loan by Mortgage Loan basis, into which accounts shall be deposited within two Business Days of receipt all collections of principal and interest on any Mortgage Loan and with respect to any REO Property received by the ServicersServicer, including Principal Prepayments, Insurance Proceeds, Liquidation Proceeds, and advances made from each the Servicer's own funds (less servicing compensation as permitted by Section 3.15) and all other amounts to be deposited in the Collection Account
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Terwin Mortgage Trust, Series TMTS 2004-22sl)
