Servicer Acts as Agent; Gross Collections; Disbursing Notices. (a) The Servicer shall, during the term of this Amendment, deposit or cause to be deposited Gross Collections upon receipt for each Trust without deduction, off-set or netting into an account entitled "ContiMortgage Payment Clearing A/C FBO Other Investors/Custodial Acct" maintained at the Clearing Bank for the benefit of the Trusts (the "Clearance Account"). Notwithstanding anything to the contrary in any Pooling Agreement, the Servicer shall not receive Servicing Fees, other servicing compensation, or reimbursement of Servicing Advances or Servicer Delinquency Advances except in accordance with this Amendment and the Servicer shall not be entitled to deduct, off-set or net any amounts from Gross Collections prior to deposit into the Clearance Account.
Appears in 11 contracts
Samples: Pooling and Servicing Agreement (Contisecurities Asset Funding Corp), Pooling and Servicing Agreement (Contisecurities Asset Funding Corp), Pooling and Servicing Agreement (Contisecurities Asset Funding Corp)
