Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accounts, a “Sub-Servicing Account”). Each Sub-Servicing Account shall be an Eligible Account. Each Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 74 contracts
Samples: Pooling and Servicing Agreement (Asset Backed Securities CORP Home Equity Loan Trust, Series 2006-He7), Pooling and Servicing Agreement (Asset Backed Securities CORP Home Equity Loan Trust, Series AMQ 2007-He2), Pooling and Servicing Agreement (Jpmac 2006-Wmc1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 66 contracts
Samples: Sale and Servicing Agreement (Newcastle Mortgage Securities Trust 2007-1), Pooling and Servicing Agreement (New Century Mortgage Securities LLC), Pooling and Servicing Agreement (Finance America Mortgage Loan Trust 2004-3)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 42 contracts
Samples: Pooling and Servicing Agreement (Salomon BRS MRT Sec Vii Inc New Cent Hm Eq L Tr Ser 2001-Nc1), Pooling and Servicing Agreement (Option One Mort Accep Corp Asset Backed Cert Ser 2000-1), Distribution Instructions (Mortgage Asset Sec Trans Inc Mort Pas THR Cer Ser 2002-Opt1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 41 contracts
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Eq2), Pooling and Servicing Agreement (Equifirst Mortgage Loan Trust 2005-1), Pooling and Servicing Agreement (Greenpoint Mortgage Funding Trust 2005-Hy1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 29 contracts
Samples: Pooling and Servicing Agreement (Argent Sec Inc Asset Backed Pas THR Cer Ser 2003-Wi), Custodial Agreement (Salomon Brothers Mort Sec Vii Fl Rte Pa THR Cer Ser 1999-Lbi), Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Asset Backed Ser 2003-10)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 27 contracts
Samples: Pooling and Servicing Agreement (Mortgage Asset Securitization Transactions Inc), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-Fxd2), Pooling and Servicing Agreement (New Century Home Equity Loan Trust Series 2005-A)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible AccountAccount and shall comply with all requirements of this Agreement relating to the Collection Account (provided, however, that in the case of each Initial Sub-Servicing Agreement, the applicable Sub-Servicing Account shall comply with all requirements of the Initial Sub-Servicing Agreement relating to the custodial account provided for therein). Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one two Business Day Days after such the Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two one Business Days Day after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing AccountAccount (or, in the case of the Initial Sub-Servicing Agreement, at such time as is required pursuant to the terms of the Initial Sub-Servicing Agreement). For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 23 contracts
Samples: Citigroup Mortgage (Citigroup Mortgage Loan Trust 2007-10), Distribution Instructions (Citigroup Mortgage Loan Trust Inc), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Ar4)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 15 contracts
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc. Series 2005-R3), Pooling and Servicing Agreement (Asset-Backed Pass-Through Certificates Series 2005-R2), Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 15 contracts
Samples: Pooling and Servicing Agreement (PHHMC Series 2007-6 Trust), Pooling and Servicing Agreement (PHHMC Series 2007-4 Trust), Pooling and Servicing Agreement (PHHMC Series 2007-5 Trust)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 14 contracts
Samples: Pooling and Servicing Agreement (Argent Securities Inc. Series 2006-W3 Trust), Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc., Asset-Backed Pass-Through Certificates, Series 2005-R5), Pooling and Servicing Agreement (Ameriquest Mortgage Securities Trust 2006-R1, Asset-Backed Pass-Through Certificates, Series 2006-R1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such Sub-the Sub- Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Sub- Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 13 contracts
Samples: Pooling and Servicing Agreement (Asset Backed Floating Rate Certificates Series 1998-Nc2), Pooling and Servicing Agreement (New Century Asset Backed Fl Rt Cert Sers 1997-Nc5), Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Ast Bk Cert Series 1998-Opt1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 12 contracts
Samples: Pooling and Servicing Agreement (United Panam Financial Corp), Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc), Pooling and Servicing Agreement (Option One Mortgage Acceptance Corp)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 12 contracts
Samples: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc), Custodial Agreement (Citigroup Mortgage Loan Trust Inc Series 2005-Opt1), Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc MRT Ln Ps Th CRT Sr 01 Frb1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Servicing Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Servicing Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 11 contracts
Samples: Servicing Agreement (New Century Home Equity Loan Trust, Series 2004-3), Servicing Agreement (New Century Home Equity Loan Trust 2005-1), Servicing Agreement (New Century Home Equity Loan Trust 2004-4)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Custodial Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Custodial Account or remit such proceeds to the Servicer for deposit in the Collection Custodial Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 10 contracts
Samples: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2006-Fre2), Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2006-Nc2), Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2006-Nc4)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one two Business Day Days after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such Sub-the Sub- Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two one Business Days Day after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 8 contracts
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc. Mortgage Pass-Through Certificates, Series 2004-Ncm1), Pooling and Servicing Agreement (Union Planters Mortgage Loan Trust Series 2001-Up1), Pooling and Servicing Agreement (Salomon Mortgage Loan Trust Ser 2002-Ust1 Mort Pass-THR Cert)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc Asset-Backed Pass-Through Certificates Series 2004-R4), Pooling and Servicing Agreement (Ameriquest Mortgage Sec Inc Asst Back Ps THR Cert Ser 2003-2), Pooling and Servicing Agreement (Ameriquest Mortgage Sec Inc as Bk Pas THR Cers Ser 2004 Fr1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Salomon Brothers Mort Sec Vii Inc Asset Bk Cert Ser 1998-Aq1), Pooling and Servicing Agreement (PHHMC Mortgage Pass-Through Certificates, Series 2005-2), Pooling and Servicing Agreement (CDMC Mortgage Pass-Through Certificates, Series 2004-4)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Asset-Backed Pass-Through Certificates Series 2003-W7), Pooling and Servicing Agreement (Argent Securities Inc Asset Back Pass THR Certs Ser 2004 W3), Pooling and Servicing Agreement (Argent Securities Inc Asset Back Pass THR Certs Ser 2004-W6)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such Sub-the Sub- Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc), Pooling and Servicing Agreement (CDMC Mortgage Pass-Through Certificates Series 2003-1), Pooling and Servicing Agreement (Cendant Mortgage Capital LLC)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2005-2), Pooling and Servicing Agreement (Option One Mortgage Loan Trust Series 2006-2), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2005-4, Asset-Backed Certificates, Series 2005-4)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Servicing Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Servicing Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 4 contracts
Samples: Servicing Agreement (New Century Home Equity Loan Trust 2006-S1), Servicing Agreement (New Century Home Equity Loan Trust 2005-4), Servicing Agreement (New Century Home Equity Loan Trust 2005-2)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 4 contracts
Samples: Distribution Instructions (MASTR Asset Backed Securities Trust 2005-Opt1), Pooling and Servicing Agreement (Indymac Residential Mortgage-Backed Trust, Series 2005-L3), Pooling and Servicing Agreement (Indymac Residential Mortgage-Backed Trust, Series 2005-L1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one two Business Day Days after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two one Business Days Day after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 4 contracts
Samples: Distribution Instructions (Citigroup Mortgage Loan Trust Inc Series 2004-Ust1), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc. Series 2004 - HYB4), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc. Series 2004 - HYB4)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Servicing Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Servicing Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 3 contracts
Samples: Servicing Agreement (New Century Home Equity Loan Trust 2004-2), Servicing Agreement (New Century Mort Sec Inc Home Equity Loan Trust 2003 6), Servicing Agreement (New Century Home Equity Loan Trust 2004-1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Argent Securities Inc Asset-Backed Pass-Through Certificates, Series 2004-Pw1), Pooling and Servicing Agreement (Argent Securities Inc Asst Back Pass THR Certs Ser 20003-W10), Pooling and Servicing Agreement (Argent Securities Inc Asset-Backed Pass-Through Certificates Seires 2004-W8)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Custodial Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Custodial Account or remit such proceeds to the Servicer for deposit in the Collection Custodial Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2007-Fre1), Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2006-Nc5), Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2006-Rfc1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Certificate Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Certificate Account or remit such proceeds to the Servicer for deposit in the Collection Certificate Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (IndyMac Residential Mortgage-Backed Trust, Series 2006-L4), Pooling and Servicing Agreement (IndyMac Residential Mortgage-Backed Trust, Series 2006-L3), Pooling and Servicing Agreement (IndyMac Residential Mortgage-Backed Trust, Series 2006-L3)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accounts, a “Sub-Servicing Account”). Each Sub-Servicing Account shall be an Eligible Account. Each Sub-Servicer shall deposit in the clearing account Sub-Servicing Account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing AccountAccount but in no event later than the Servicer Remittance Date. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Asset Backed Pass-Through Certificates, Series 2004-He8), Pooling and Servicing Agreement (Asset Backed Pass-Through Certificates, Series 2004-He6), Pooling and Servicing Agreement (Asset Backed Securities Corp)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Servicing Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Servicing Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 3 contracts
Samples: Servicing Agreement (New Century Home Equity Loan Trust 2006-1), Servicing Agreement (New Century Alternative Mortgage Loan Trust 2006-Alt1), Servicing Agreement (New Century Home Equity Loan Trust 2006-2)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 123
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc. Asset-Backed Pass-Through Certificates Series 2004-Ia1), Pooling and Servicing Agreement (Argent Securities Asset Bcked Pass Through Certs Ser 2004-W4)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans Mortgage Loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Asset Backed Securities Corp Home Equity Ln Tr Ser 2001-He2), Pooling and Servicing Agreement (Asset Backed Sec Corp Home Equity Loan Trust Series 2001 He3)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 158
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Park Place Securities, Inc. Series 2005-Whq2), Pooling and Servicing Agreement (Park Place Securities, Inc. Series 2005-Whq2)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 127
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Asset BCKD Ps THR Cert Ser 2002-Ar1), Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Asset BCKD Ps THR Cert Ser 2002-Ar1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2006-3), Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2006-3)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Accountaccount(s) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one two Business Day Days after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such Sub-the Sub- Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two one Business Days Day after the deposit of such funds into the clearing accountaccount(s). Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Sub- Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Salomon Brothers Mort Sec Vii Inc Sov Bk MRT Ln Tr Se 2002-1), Pooling and Servicing Agreement (Salomon Mortgage Loan Trust Series 2003-Nbc1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Sub- Servicer receives such payments.
Appears in 2 contracts
Samples: Servicing Agreement (Salomon Br Mor Sec Vii Inc Series 1998-11), Servicing Agreement (Salomon Br Mor Sec Vii Inc Series 1998-11)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (ABFC 2005-Aq1 Trust), Pooling and Servicing Agreement (GE-WMC Mortgage Securities, L.L.C.)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a an Ocwen Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s receipt thereof, all proceeds of the related Ocwen Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer Ocwen for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer Ocwen shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-1), Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 143
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Sec Inc Asset Back Pass THR Cer Se 03 12), Pooling and Servicing Agreement (Argent Securities Inc Asset Back Thru Cert Series 203-W6)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 173
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-Whq2), Pooling and Servicing Agreement (Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-Whq2)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 141
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Argent Securities Inc Asset Back Pass THR Certs Ser 2004-W5), Pooling and Servicing Agreement (Argent Securities Inc Asset Back Pass THR Certs Ser 2004-W5)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 134
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc Asset-Backed Pass-Through Certificates Series 2004-R7), Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc Asset-Backed Pass-Through Certificates Series 2004-R7)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Home Equity Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage home equity loans in connection with its mortgage home equity loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Home Equity Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Home Equity Loans when the related Sub-Servicer receives such payments.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Asset Backed Sec Corp Home Equity Loan Series 2000 Lb1), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)
Sub-Servicing Accounts. In those cases where a Sub-Servicer Subservicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer Subservicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each Sub-Servicer The Subservicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such Sub-Servicer’s the Subservicer's receipt thereof, all proceeds of the related Mortgage Loans received by such Sub-Servicer the Subservicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each Sub-Servicer The Subservicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer Subservicer receives such payments.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Sd3), Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Sd2)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accounts, a “Sub-Servicing Account”). Each Sub-Servicing Account shall be an Eligible Account. Each Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-Servicer shall thereafter deposit such proceeds in the related Collection Account or remit such proceeds to the related Servicer for deposit in the related Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the related Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Asset Backed Securities CORP Home Equity Loan Trust, Series MO 2006-He6), Pooling and Servicing Agreement (Asset Backed Securities CORP Home Equity Loan Trust, Series MO 2006-He6)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (GE-WMC Asset-Backed Pass-Through Trust, Series 2006-1), Pooling and Servicing Agreement (GE-WMC Asset-Backed Pass Through Certificates, Series 2005-1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 118
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Sec Inc Ast Back Ps THR Cert Ser 2003-1), Pooling and Servicing Agreement (Ameriquest Mortgage Sec Inc Asset Back Cert Ser 2003 Ar1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Long Beach Securities Corp Asset Backed Certs Series 2000 1), Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2001-1 as Bk Cert Ser 2001-1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one (1) Business Day after such the Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two (2) Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two (2) Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Argent Securities Trust 2006-M1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 154
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Asset Back Pas THR Certs Ser 03 8)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event 148 more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 122
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Sec Inc Asset BCK Ps THR Cert Ser 2003-3)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 162
Appears in 1 contract
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt and acceptance of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2007-He2)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 140
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Sec Inc Asset Back Pass THR Ser 2003-13)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer GMACM for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer GMACM shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-B)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans Mortgage Loans in connection with its mortgage loan Mortgage Loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Asset Backed Securities Corp)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 129
Appears in 1 contract
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. 157 For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 158
Appears in 1 contract
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accounts, a “"Sub-Servicing Account”"). Each Sub-Servicing Account shall be an Eligible Account. Each Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Asset Backed Pass Through Certificates Series 2002 He2)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 133
Appears in 1 contract
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one two Business Day Days after such the Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two one Business Days Day after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (National City Mortgage Capital LLC)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, 72 and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2004-Wmc1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans and manufactured home loans in connection with its mortgage loan and manufactured home loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp New South Home Equity Trust 2001-1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 130
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Ass Bk Pas THR Certs Ser 2002 2)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such Sub-the Sub- Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Salomon Bros MRT Sec Vii Inc MRT PSS THR Cert Ser 1998 Nc7)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 150
Appears in 1 contract
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Custodial Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Custodial Account or remit such proceeds to the Applicable Servicer for deposit in the Collection Custodial Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Applicable Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2007-He1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “Subthe "SUB-Servicing Account”SERVICING ACCOUNT"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GE-WMC Mortgage Securities, L.L.C.)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 112
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Sec Inc Asset/Pass Thru Cert 2003-Ia1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this 76 Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mort Acceptance Corp Asset Back Cert Ser 2003 2)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 139
Appears in 1 contract
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Sub- Servicer receives such payments.
Appears in 1 contract
Samples: Servicing Agreement (Salomon Br Mor Sec Vii Inc Series 1998-11)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible AccountAccount and shall be entitled "Bankers Trust Company of California, N.A., as Trust Administrator for the benefit of First Union National Bank, as Trustee, in trust for registered Holders of Long Beach Mortgage Loan Trust 2001-4, Asset-Backed Certificates, Series 2001-4. Each The Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Mort Loan Tr 2001-4 as Bk Cert Ser 2001-4)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible AccountAccount and shall be entitled "Bankers Trust Company of California, N.A., as Trust Administrator for the benefit of First Union National Bank, as Trustee, in trust for registered Holders of Long Beach Mortgage Loan Trust 2002-1, Asset-Backed Certificates, Series 2002-1. Each The Sub-Servicer shall be required to deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter be required to deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Mort Loan Trust 2002-1as Back Cert Ser 2002-1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one two Business Day Days after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such Sub-the Sub- Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two one Business Days Day after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Series 2004-Hyb1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accounts, a “"Sub-Servicing Account”"). Each The related Sub-Servicing Account shall be an Eligible Account. Each Sub-Servicer shall deposit in the related clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the related Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the a Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Asset Backed Securities Corp)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Morgan Stanley Abs Capital I Inc)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer GMACM for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer GMACM shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2005-A)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 126
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Asset Back Ps THR Certs Ser 2003-Ar2)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 123
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Argent Securities Inc Asset Back Pass THR Certs Ser 2003-W4)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business 77 Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mortgage Acceptance Loan Trust 2004-2)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each Sub-The Sub- Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Sub- Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mortgage Accep Corp Asset Back Certs Ser 2003 5)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 124
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Asset Backed Pass Through Certificates Series 2003-4)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. xxxxx
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Option One Mortgage Acceptance Corp Ass Back Cert Ser 2000 4)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 115
Appears in 1 contract
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Sub- Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Custodial Agreement (Salomon Bros Mort Sec Vii Inc Fl Rt MRT Ps THR Cert 1999 Aq1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such Sub-Servicer’s the SubServicer's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing SubServicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (New Century Asset Backed Float Rate Cert Series 1997-Nc4)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 141
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc as Bk Ps THR CRTS Se 02-4)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 140
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Argent Securities Inc Asset Backed Pass THR Cert Ser 2003-W8)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each Sub-The Sub- Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 128
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Asset-Backed Pass-Through Certificates Series 2004-R2)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Custodial Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Sub- Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Custodial Account or remit such proceeds to the Servicer for deposit in the Collection Custodial Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2006-Fre1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer Subservicer is servicing a Mortgage Loan pursuant to a Sub-Sub- Servicing Agreement, the related Sub-Servicer Subservicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a the “Sub-Servicing Account”). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each Sub-Servicer The Subservicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such Sub-Servicer’s the Subservicer's receipt thereof, all proceeds of the related Mortgage Loans received by such Sub-Servicer the Subservicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit receipt of such funds into the clearing accountamounts. Each Sub-Servicer The Subservicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer Subservicer receives such payments.
Appears in 1 contract
Samples: Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Sd1)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will shall be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one Business Day after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two Business Days after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Master Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Master Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.. 155
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Asset-Backed Pass-Through Certificates, Series 2004-R12)
Sub-Servicing Accounts. In those cases where a Sub-Servicer is servicing a Mortgage Loan pursuant to a Sub-Servicing Agreement, the related Sub-Servicer will be required to establish and maintain one or more accounts (each such account or accountscollectively, a “the "Sub-Servicing Account”"). Each The Sub-Servicing Account shall be an Eligible Account and shall comply with all requirements of this Agreement relating to the Collection Account. Each The Sub-Servicer shall deposit in the clearing account (which account must be an Eligible Account) in which it customarily deposits payments and collections on mortgage loans in connection with its mortgage loan servicing activities on a daily basis, and in no event more than one two Business Day Days after such the Sub-Servicer’s 's receipt thereof, all proceeds of the related Mortgage Loans received by such the Sub-Servicer less its servicing compensation to the extent permitted by the related Sub-Servicing Agreement, and shall thereafter deposit such amounts in the related Sub-Servicing Account, in no event more than two one Business Days Day after the deposit of such funds into the clearing account. Each The Sub-Servicer shall thereafter deposit such proceeds in the Collection Account or remit such proceeds to the Servicer for deposit in the Collection Account not later than two Business Days after the deposit of such amounts in the related Sub-Servicing Account. For purposes of this Agreement, the Servicer shall be deemed to have received payments on the related Mortgage Loans when the related Sub-Servicer receives such payments.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (National City Mortgage Capital LLC)
