Common use of Protection of Accounts Clause in Contracts

Protection of Accounts. The Collection Account and Escrow Account shall be Eligible Accounts at all times. The Servicer may transfer the Collection Account or the Escrow Account to a different Eligible Account from time to time. The Servicer shall bear any expenses, losses or damages sustained by the Owner because the Collection Account and/or the Escrow Account are not Eligible Accounts. Amounts on deposit in the Collection Account may at the option of the Servicer be invested in Eligible Investments. Any such Eligible Investment shall be made in the name of the Servicer in trust for the benefit of the Owner. All income on or gain realized from any such Eligible Investment shall be for the benefit of the Servicer and may be withdrawn from the Collection Account at any time by the Servicer. Any losses incurred in respect of any such investment shall be deposited in the Collection Account, by the Servicer out of its own funds immediately as realized.

Protection of Accounts. The Collection Account and Escrow Account shall be Eligible Accounts at all times. The Servicer may transfer the Collection Account or the Escrow Account to a different Eligible Account from time to timetime with prior written notice to the Certificate Insurer. The Servicer shall bear any expenses, losses or damages sustained by the Owner because the Collection Account and/or the Escrow Account are not Eligible Accounts. Amounts on deposit in the Collection Account may at the option of the Servicer be invested in Eligible Investments. Any such Eligible Investment shall be made in the name of the Servicer in trust for the benefit of the Owner. All income on or gain realized from any such Eligible Investment shall be for the benefit of the Servicer and may be withdrawn from the Collection Account at any time by the Servicer. Any losses incurred in respect of any such investment shall be deposited in the Collection Account, by the Servicer out of its own funds immediately as realized.