Common use of Principal and Interest Account Clause in Contracts

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: _______________, as Indenture Trustee in trust for the benefit of the Owners of the IMC Adjustable Rate Home Equity Loan Asset

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 Indenture Trustee in trust for under the benefit Pooling and Servicing Agreement dated as of the Owners of the IMC Adjustable Rate Home Equity Loan AssetJune 1,