Protected Accounts. (a) The Master Servicer shall enforce the obligation of each Servicer to establish and maintain a Protected Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a Mortgage Loan by Mortgage Loan basis, into which Protected Accounts shall be deposited daily (or as of such other time specified in the related Servicing Agreement) all collections of principal and interest on any Mortgage Loan and with respect to any REO Property received by a Servicer, including Principal Prepayments, Insurance Proceeds, Liquidation Proceeds, and advances made from the Servicer's own funds (less Servicing Fees as permitted by such applicable Servicing Agreement in the case of any such Servicer) and all other amounts to be deposited in the Protected Account pursuant to the related Servicing Agreement.
(b) [Reserved].
(c) Subject to this Article IV, on or before each Servicer Remittance Date, the Master Servicer shall (if acting as successor servicer to a Servicer), or shall cause the related Servicer to withdraw or shall cause to be withdrawn from the Protected Accounts and immediately deposit or cause to be deposited into the Master Servicer Collection Account, amounts representing the following collections and payments (other than with respect to principal of or interest on the Mortgage Loans due on or before the Cut-off Date) with respect to each Mortgage Loan serviced by it:
(i) Scheduled Payments on the Mortgage Loans received or any related portion thereof advanced by the related Servicers pursuant to the Servicing Agreements which were due on or before the related Due Date, net of the amount thereof comprising the Servicing Fees;
(ii) full Principal Prepayments, any Liquidation Proceeds received by the Servicers with respect to such Mortgage Loans in the related Prepayment Period, with interest to the date of prepayment or liquidation, net of the amount thereof comprising the Servicing Fees and any Subsequent Recoveries;
(iii) partial Principal Prepayments received by the Servicers for such Mortgage Loans in the related Prepayment Period; and
(iv) any amount to be used as an Advance and any payments of Compensating Interest.
Protected Accounts. (a) The Master Servicer shall enforce the obligation of each Servicer to establish and maintain a Protected Account in accordance with the applicable Servicing Agreement, with records to be kept with respect thereto on a Mortgage Loan by Mortgage Loan basis, into which accounts shall be deposited within 48 hours (or as of such other time specified in the related Servicing Agreement) of receipt all collections of principal and interest on any Mortgage Loan or amounts received with respect to any REO Property, including Principal Prepayments, Insurance Proceeds, Liquidation Proceeds, and advances made from the Servicer's own funds (less servicing compensation as permitted by the applicable Servicing Agreement in the case of any Servicer) and all other amounts to be deposited in the Protected Account. The Master Servicer is hereby authorized to make withdrawals from and deposits to the related Protected Account for purposes required or permitted by this Agreement.
(b) In accordance with the terms of the applicable Servicing Agreement, amounts on deposit in a Protected Account are required to be invested by the applicable Servicer in Permitted Investments. The income earned from investments made pursuant to this Section 3.06 shall be paid to the related Servicer under the applicable Servicing Agreement, and the risk of loss of moneys required to be distributed to the Certificateholders resulting from such investments shall be borne by and be the risk of the related Servicer. The related Servicer (to the extent provided in the Servicing Agreement) shall deposit the amount of any such loss in the Protected Account within two Business Days of receipt of notification of such loss but not later than the second Business Day prior to the Distribution Date on which the moneys so invested are required to be distributed to the Certificateholders.
Protected Accounts. Section 4.02
Protected Accounts. 68 Section 4.02 Master Servicer Collection Account................................................69 Section 4.03 Permitted Withdrawals and Transfers from the Master Servicer Collection Account.......................................................70
Protected Accounts. Collection of Mortgage Loan Payments; Collection Account; Distribution Account............................... Section 3.08 Collection of Taxes, Assessments and Similar Items; Escrow Accounts............................................. Section 3.09 Access to Certain Documentation and Information Regarding the Mortgage Loans................................ Section 3.10 Permitted Withdrawals from the Collection Account and Distribution Account........................................ Section 3.11
Protected Accounts. Collection of Mortgage Loan Payments; Collection Account; Distribution Account............................................ Section 3.08 Collection of Taxes, Assessments and Similar Items; Escrow Accounts........................................................ Section 3.09 Access to Certain Documentation and Information Regarding the Mortgage Loans.................................................. Section 3.10 Permitted Withdrawals from the Collection Account and Distribution Account............................................ Section 3.11 Maintenance of Hazard Insurance; Maintenance of Primary Insurance Policies.............................................. Section 3.12 Presentment of Claims and Collection of Proceeds................. Section 3.13 Maintenance of the Primary Insurance Policies.................... Section 3.14 Realization Upon Defaulted Mortgage Loans........................ Section 3.15
Protected Accounts. 83 Section 4.02 Master Servicer Collection Account...................... 84
Protected Accounts. 57 Section 4.02
Protected Accounts. 61 Section 4.02. Distribution Account.....................................................................62 Section 4.03. Permitted Withdrawals and Transfers from the Distribution Account........................63 Section 4.04. Distribution of Carryover Shortfall Amount; Carryover Shortfall Reserve Fund.............65 ARTICLE V Certificates Section 5.01. Certificates.............................................................................66 Section 5.02. Registration of Transfer and Exchange of Certificates....................................74 Section 5.03. Mutilated, Destroyed, Lost or Stolen Certificates........................................78 Section 5.04. Persons Deemed Owners....................................................................78 Section 5.05. Transfer Restrictions on Residual Certificates...........................................78 Section 5.06. Restrictions on Transferability of Certificates..........................................79 Section 5.07. ERISA Restrictions.......................................................................80 Section 5.08. Rule 144A Information....................................................................81 Section 5.09. Appointment of Paying Agent and Certificate Registrar....................................82 ARTICLE VI
Protected Accounts. 63 Section 4.02 Master Servicer Collection Account ........................................................... 64 Section 4.03 Permitted Withdrawals and Transfers from the Master Servicer Collection Account .............. 65 Section 4.04 Distribution Account ......................................................................... 66 Section 4.05 Permitted Withdrawals and Transfers from the Distribution Account ............................ 66 ARTICLE V Certificates Section 5.01 Certificates ................................................................................. 69 Section 5.02 Registration of Transfer and Exchange of Certificates ........................................ 78 Section 5.03 Mutilated, Destroyed, Lost or Stolen Certificates ............................................ 81 Section 5.04 Persons Deemed Owners ........................................................................ 82 Section 5.05 Transfer Restrictions on Residual Certificates ............................................... 82 Section 5.06 Restrictions on Transferability of Certificates .............................................. 83 Section 5.07 ERISA Restrictions ........................................................................... 83 Section 5.08 Rule 144A Information ........................................................................ 85
