Seller Trust. If at, or at any time after, the Closing Date (but prior to any repurchase in accordance with clause 11 (Repurchase of Mortgage Loans) a Legal Title Holder holds, or there is held to its order, or it receives, or there is received to its order any property, interests, rights or benefits and/or the proceeds thereof (including, without limitation, the proceeds of any claim under the Insurance Policies) agreed to be sold by the Seller to the Issuer (or as the Issuer may direct) pursuant to this Agreement:
Seller Trust. If at, or at any time after, the Closing Date (but prior to any repurchase in accordance with Clause 12 (Repurchase of Mortgage Loans)), the Seller holds, or there is held to its order, or it receives, or there is received to its order any property, interests, rights or benefits and/or the proceeds thereof (including, without limitation, the proceeds of any claim under the Insurance Policies) agreed to be sold by the Seller to the Issuer and which was due and payable by a Borrower in respect of the period starting on and following the Second Cut-off Date, the Seller undertakes to each of the Issuer and the Trustee that:
Seller Trust. Constitution of Seller Trust 23.1 Subject to this clause 23, a Seller Trust is constituted upon execution of this deed and the payment of $20 by the Seller to the Issuer Trustee. The Seller Trust Assets of the Seller Trust vest in the Issuer Trustee and are held by the Issuer Trustee on the terms of and subject to this deed.
