Common use of Principal and Interest Account Clause in Contracts

Principal and Interest Account. (a) The Master Servicer and/or each Sub-Servicer, as applicable, shall establish in the name of the Trust for the benefit of the Class A Noteholders and the Insurer and maintain at one or more Designated Depository Institutions the Principal and Interest Account, which may be separate accounts with respect to each Pool, or a single account with sub-accounts. Subject to Subsections (c) and (e) below, the Master Servicer and any Sub-Servicer shall deposit all receipts related to the Mortgage Loans to the Principal and

Principal and Interest Account. (a) The Master Servicer and/or each Sub-Servicerservicer, as applicable, shall establish in the name of the Trust for the benefit of the Class A Noteholders and Owners of the Insurer Certificates as their interests may appear, and maintain at one or more Designated Depository Institutions the Principal and Interest Account, which may be separate accounts with respect to each Pool, or a single account with sub-accounts. Subject to Subsections (c) and (e) below, the Master Servicer and any Sub-Servicer servicer shall deposit all receipts related to the Mortgage Loans to the Principal andand Interest