Principal and Interest Account. (a) The Servicer shall establish and maintain at one or more Designated Depository Institutions the Principal and Interest Account, which shall be an Eligible Account. The Principal and Interest Account shall be identified on the records of the Designated Depository Institution as follows: JPMorgan Chase Bank, National Association, as Trustee on behalf of the Owners of the Centex Home Equity Loan Trust [2006-__] Home Equity Loan Asset-Backed Certificates. If the institution at any time holding the Principal and Interest Account ceases to be eligible as a Designated Depository Institution hereunder, then the Servicer shall immediately be required to name a successor institution meeting the requirements for a Designated Depository Institution hereunder. If the Servicer fails to name such a successor institution, then the Principal and Interest Account shall thenceforth be held as a trust account at the Corporate Trust Office of the Trustee. The Servicer shall notify the Trustee and the Owners if there is a change in the name, account number or institution holding the Principal and Interest Account. Subject to Subsection (c) below, the Servicer shall deposit all receipts required pursuant to Subsection (c) below and related to the Home Equity Loans to the Principal and Interest Account on a daily basis (but no later than the second Business Day after receipt).
Principal and Interest Account. (a) The Servicer shall establish in the name of the Trust for the benefit of the Owners of the Certificates and the Certificate Insurer and maintain at one or more Designated Depository Institutions the Principal and Interest Account. The funds held in the Principal and Interest Account shall not be commingled with any other funds. Subject to Subsection (c) below, the Servicer and any Sub-Servicer shall deposit all receipts related to the Mortgage Loans into the Principal and Interest Account on a daily basis (but no later than the first Business Day after receipt). Subject to Subsection (c) below, within one Business Day following the Startup Day, the Company and/or the Servicer shall deposit into the Principal and Interest Account all receipts related to the related Mortgage Loans received after the Cut-Off Date.
Principal and Interest Account. (a) The Servicer shall establish and maintain at one or more Designated Depository Institutions the Principal and Interest Account to be held as a trust account. Each Principal and Interest Account shall be identified on the records of the Designated Depository Institution as follows: "Manufacturers and Traders Trust Company, as Trustee under the Pooling and Servicing Agreement dated as of March 1, 1998." If the institution at any time holding the Principal and Interest Account ceases to be eligible as a Designated Depository Institution hereunder, then the Servicer shall, within 30 days, be required to name a successor institution meeting the requirements for a Designated Depository Institution hereunder. If the Servicer fails to name such a successor institution, then the Principal and Interest Account shall thenceforth be held as a trust account with a qualifying Designated Depository Institution. The Servicer shall notify the Trustee, the Certificate Insurer and the Owners if there is a change in the name, account number or institution holding the Principal and Interest Account. Subject to Subsection (c) below, the Servicer shall deposit all receipts required pursuant to Subsection (c) below and related to the Home Equity Loans to the Principal and Interest Account on a daily basis (but no later than the first Business Day after receipt).
Principal and Interest Account. (a) The Servicer shall cause to be established and maintained one or more Principal and Interest Accounts (including for each such account two (2) subaccounts, one designated as the Interest Collection Account and the other designated as the Principal Collection Account), in one or more Eligible Deposit Accounts, in the form of time deposit or demand accounts, which may be interest-bearing or such accounts may be trust accounts wherein the moneys therein are invested in Permitted Investments, titled "CapitalSource Finance LLC, as Servicer, in trust for the Hedge Counterparties and the registered holders of CapitalSource Commercial Loan Trust Notes, Series 2002-2 Class A, Class B, Class C, Class D and Class E Notes." All funds in such Principal and Interest Accounts not so invested shall be insured to the extent and the amount permitted by the BIF or SAIF of the FDIC to the maximum extent provided by law. The creation of any Principal and Interest Account shall be evidenced by a letter agreement in the form of Exhibit E hereto. A copy of such letter agreement shall be furnished to the Indenture Trustee, the Owner Trustee and, upon request, any Securityholder or Hedge Counterparty. The Servicer may, upon written notice to the Indenture Trustee, transfer any Principal and Interest Account to a different Eligible Deposit Account.
Principal and Interest Account. (a) The Servicer shall establish and maintain at one or more Designated Depository Institutions the Principal and Interest Account, which shall be an Eligible Account. The Principal and Interest Account shall be identified on the records of the Designated Depository Institution as follows: Bank One, National Association, as Trustee on behalf of the Owners of the Centex Home Equity Loan Trust 2001-B Home Equity Loan Asset-Backed Certificates. If the institution at any time holding the Principal and Interest Account ceases to be eligible as a Designated Depository Institution hereunder, then the Servicer shall immediately be required to name a successor institution meeting the requirements for a Designated Depository Institution hereunder. If the Servicer fails to name such a successor institution, then the Principal and Interest Account shall thenceforth be held as a trust account at the Corporate Trust Office of the Trustee. The Servicer shall notify the Trustee and the Owners if there is a change in the name, account number or institution holding the Principal and Interest Account. Subject to Subsection (c) below, the Servicer shall deposit all receipts required pursuant to Subsection (c) below and related to the Home Equity Loans to the Principal and Interest Account on a daily basis (but no later than the second Business Day after receipt).
Principal and Interest Account. (a) The Master Servicer shall establish and maintain at one or more Designated Depository Institutions the Principal and Interest Account as a segregated account. Subject to Subsections (c) and (d) below, the Master Servicer and any Sub-Servicer shall deposit all collections (other than amounts escrowed for taxes and insurance) related to the Mortgage Loans to the Principal and Interest Account on a daily basis (but no later than the first Business Day after receipt). On or before the Startup Day, the Master Servicer shall deposit to the Principal and Interest Account (i) all scheduled payments due and collected (other than amounts escrowed for taxes and insurance) on the Mortgage Loans after the Cut-Off Date and prior to the Startup Day and (ii) all unscheduled collections (other than amounts escrowed for taxes and insurance) on the Mortgage Loans received on or after the Cut-Off Date and prior to the Startup Day.
Principal and Interest Account. (a) The Servicer shall establish an account, which includes three separate subaccounts into which amounts in respect of each Group will be separately deposited and maintained (the "Principal and Interest Account"). The Principal and Interest Account shall be an Eligible Account. The Principal and Interest Account shall be titled: "________________, as Indenture Trustee in trust for the registered holders of Centex Home Equity Loan Asset-Backed Notes and the Insurer, and as Paying Agent for the Transferor in respect of the Ownership Interest, as their interests may appear, Series 200_-__ Principal and Interest Account." If the institution at any time holding the Principal and Interest Account ceases to be eligible as a Designated Depository Institution hereunder, then the Servicer shall immediately be required to name a successor institution meeting the requirements for a Designated Depository Institution hereunder. If the Servicer fails to name such a successor institution, then the Principal and Interest Account shall thenceforth be held as a trust account with a qualifying Designated Depository Institution selected by the Indenture Trustee. The Servicer shall notify the Indenture Trustee, the Insurer and the Owners if there is a change in the name, account number or institution holding the Principal and Interest Account.
Principal and Interest Account. (a) The Servicer and/or each Sub-Servicer shall establish in the name of the Trust for the benefit of the Holders of the Certificates and the Certificate Insurer and maintain at one or more Designated Depository Institutions the Principal and Interest Account. Subject to Subsection (c) below, the Servicer and any Sub-Servicer shall deposit all receipts related to the Mortgage Loans to the Principal and Interest Account on a daily basis (but no later than the second Business Day after receipt). On the Startup Day, the Sponsor and/or the Servicer shall deposit to the Principal and Interest Account all scheduled payments of principal and interest due and received, and all Prepayments received after the Cut-Off Date.
Principal and Interest Account. (a) The Servicer shall establish and maintain at one or more Designated Depository Institutions the Principal and Interest Account, which shall be an Eligible Account. The Principal and Interest Account shall be identified on the records of the Designated Depository Institution as follows: Bank One, National Association, as Trustee on behalf of the Owners of the Centex Home Equity Loan Trust 200_-__ Home Equity Loan Asset-
Principal and Interest Account. (a) The Master Servicer and/or each Sub-Servicer, as applicable, shall establish and maintain at one or more Designated Depository Institutions in the name of the Trust for the benefit of the Owners of the Certificates and the Certificate Insurer, as their interests may appear, a Principal and Interest Account. The establishment of the Principal and Interest Account shall be evidenced by the Master Servicer's delivery of a notice in the form of Exhibit B hereto, properly completed. Subject to Subsections (c) and (e) below, the Master Servicer and any Sub-Servicer shall deposit all receipts of principal and accrued interest related to the Mortgage Loans in each such Mortgage Loan Group to the Principal and Interest Account on a daily basis (but no later than the second Business Day after receipt).
