Common use of Segregated Custodial Account Clause in Contracts

Segregated Custodial Account. The Servicer shall establish a Custodial Account pursuant to Subsection 11.04 of the Sale and Servicing Agreement which shall be titled “Xxxxx Fargo Bank, N.A., in trust for U.S. Bank National Association, as trustee of the Sequoia Mortgage Trust 2011-2” (the “2011-2 Custodial Account”), which shall be the Custodial Account under this Agreement for all purposes. If the 2011-2 Custodial Account is no longer an Eligible Account, the Servicer shall transfer the 2011-2 Custodial Account to an account that is an Eligible Account. The 2011-2 Custodial Account shall qualify as an Eligible Account.

Segregated Custodial Account. The Servicer shall establish a Custodial Account pursuant to Subsection 11.04 of the Sale and Servicing Agreement which shall be titled “Xxxxx Fargo Bank, N.A.SunTrust Mortgage Inc., in trust for U.S. Bank National Association, as trustee of the Sequoia Mortgage Trust 2011-2” (the “2011-2 Custodial Account”), which shall be the Custodial Account under this Agreement for all purposes. If the 2011-2 Custodial Account is no longer an Eligible Account, the Servicer shall transfer the 2011-2 Custodial Account to an account that is an Eligible Account. The 2011-2 Custodial Account shall qualify as an Eligible Account.