Common use of Payment Procedure Clause in Contracts

Payment Procedure. (a) The Lead Securitization Noteholder (or the Master Servicer on its behalf), in accordance with the priorities set forth in Section 3 and subject to the terms of the Servicing Agreement, will deposit or cause to be deposited all payments allocable to the Notes to the Collection Account or Companion Distribution Account for the Notes established pursuant to the Servicing Agreement. The Lead Securitization Noteholder (or the Master Servicer on its behalf) shall establish a segregated sub-account for amounts due to each Noteholder. The Lead Securitization Noteholder (or the Master Servicer acting on its behalf) shall deposit such amounts to the applicable account within two (2) Business Days following the Lead Securitization Noteholder’s (or the Master Servicer’s acting on its behalf) receipt of properly identified and available funds from or on behalf of the Borrower.

Payment Procedure. (a) The Lead Securitization Noteholder (or the Master Servicer on its behalf)Note Holder, in accordance with the priorities set forth in Section 3 and subject to the terms of the Lead Securitization Servicing Agreement, will shall deposit or cause to be deposited all payments allocable to and collections on the Notes Mortgage Loan to the Collection Account or and the portion of such payments and collections that are distributable to the Non-Controlling Note Holder shall be deposited into the Companion Loan Distribution Account for the Notes established pursuant to and in accordance with the Lead Securitization Servicing Agreement. The Lead Securitization Noteholder (or the Master Servicer on its behalf) shall establish a segregated sub-account for amounts due to each Noteholder. The Lead Securitization Noteholder Note Holder (or the Master Servicer acting on its behalf) shall deposit such amounts to the applicable account within two (2) Business Days following after receipt of properly identified funds by the Lead Securitization Noteholder’s Note Holder (or the Master Servicer’s Servicer acting on its behalf) receipt of properly identified and available funds from or on behalf of the Mortgage Loan Borrower.

Payment Procedure. (a) The Lead Securitization Noteholder (or the Master Servicer on its behalf), in accordance with the priorities set forth in Section 3 and subject to the terms of the Servicing Agreement, will deposit or cause to be deposited all payments allocable to the Notes to the Collection Account or Companion Distribution Account for the Notes established pursuant to the Servicing Agreement. The Lead Securitization Noteholder (or the Master Servicer on its behalf) shall establish a segregated sub-account for amounts due to the each Noteholder. The Lead Securitization Noteholder (or the Master Servicer acting on its behalf) shall deposit such amounts to the applicable account within two (2) Business Days following the Lead Securitization Noteholder’s (or the Master Servicer’s acting on its behalf) receipt of properly identified and available funds from or on behalf of the Mortgage Loan Borrower.

Payment Procedure. (a) The Lead Securitization Noteholder (or the Master Servicer on its behalf)Note Holder, in accordance with the priorities set forth in Section 3 and subject to the terms of the Lead Securitization Servicing Agreement, will shall deposit or cause to be deposited all payments allocable to and collections on the Notes Mortgage Loan to the Collection Account or and the portion of such payments and collections that are distributable to the Non-Lead Securitization Note Holders shall be deposited into the Companion Loan Distribution Account for the Notes established pursuant to and in accordance with the Lead Securitization Servicing Agreement. The Lead Securitization Noteholder (or the Master Servicer on its behalf) shall establish a segregated sub-account for amounts due to each Noteholder. The Lead Securitization Noteholder Note Holder (or the Master Servicer acting on its behalf) shall deposit such amounts to the applicable account within two (2) Business Days following after receipt of properly identified funds by the Lead Securitization Noteholder’s Note Holder (or the Master Servicer’s Servicer acting on its behalf) receipt of properly identified and available funds from or on behalf of the Mortgage Loan Borrower.

Payment Procedure. (a) The Lead Securitization Noteholder (or the Master Servicer on its behalf)Note Holder, in accordance with the priorities set forth in Section 3 and subject to the terms of the Lead Securitization Servicing Agreement, will shall deposit or cause to be deposited all payments allocable to and collections on the Notes Mortgage Loan to the Collection Account or and the portion of such payments and collections that are distributable to the Non-Lead Securitization Note Holders shall be deposited into the Companion Distribution Loan Account for the Notes established pursuant to and in accordance with the Lead Securitization Servicing Agreement. The Lead Securitization Noteholder (or the Master Servicer on its behalf) shall establish a segregated sub-account for amounts due to each Noteholder. The Lead Securitization Noteholder Note Holder (or the Master Servicer acting on its behalf) shall deposit such amounts to the applicable account within two (2) Business Days following after receipt of properly identified funds by the Lead Securitization Noteholder’s Note Holder (or the Master Servicer’s Servicer acting on its behalf) receipt of properly identified and available funds from or on behalf of the Mortgage Loan Borrower.

Payment Procedure. (a) The Lead Securitization Noteholder Note Holder (or the Master Servicer acting on its behalf), in accordance with the priorities set forth in Section 3 and subject to the terms of the Lead Securitization Servicing Agreement, will shall deposit or cause to be deposited all payments allocable to the Notes to the Collection Account or and/or Companion Distribution Account for (or analogous terms each as defined in the Notes established Lead Securitization Servicing Agreement) pursuant to and in accordance with the Lead Securitization Servicing Agreement. The Lead Securitization Noteholder (or the Master Servicer on its behalf) shall establish a segregated sub-account for amounts due to each Noteholder. The Lead Securitization Noteholder Note Holder (or the Master Servicer acting on its behalf) shall deposit such amounts to the applicable account within two (2) Business Days following after receipt by it of properly identified funds by the Lead Securitization Noteholder’s Note Holder (or the Master Servicer’s Servicer acting on its behalf) receipt of properly identified and available funds from or on behalf of the Mortgage Loan Borrower.

Payment Procedure. (a) The Lead Securitization Noteholder (or the Master Servicer on its behalf)Note Holder, in accordance with the priorities set forth in Section 3 and subject to the terms of the Lead Securitization Servicing Agreement, will shall deposit or cause to be deposited all payments allocable to and collections on the Notes Mortgage Loan to the Collection Account or and the portion of such payments and collections that are distributable to the Non-Lead Note Holder shall be deposited into the Companion Loan Distribution Account for the Notes established pursuant to and in accordance with the Lead Securitization Servicing Agreement. The Lead Securitization Noteholder (or the Master Servicer on its behalf) shall establish a segregated sub-account for amounts due to each Noteholder. The Lead Securitization Noteholder Note Holder (or the Master Servicer acting on its behalf) shall deposit such amounts to the applicable account within two (2) Business Days following after receipt of properly identified funds by the Lead Securitization Noteholder’s Note Holder (or the Master Servicer’s Servicer acting on its behalf) receipt of properly identified and available funds from or on behalf of the Mortgage Loan Borrower.