The Capitalized Interest Account. The Trustee shall establish and maintain in its name, a trust account (the “Capitalized Interest Account”) entitled “Capitalized Interest Account, LaSalle Bank National Association, as Trustee, in trust for the benefit of the Holders of Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2004-10.” The Capitalized Interest Account shall be an Eligible Account. On the Closing Date, the Depositor shall deposit in the Capitalized Interest Account the Original Capitalized Interest Amount. On the Business Day preceding any Distribution Date occurring during the Pre-Funding Period, the Trustee shall withdraw from the Capitalized Interest Account an amount equal to the Capitalized Interest Requirement (based on a monthly report provided to the Trustee by the Securities Administrator no later than such Business Day) for deposit into the Certificate Account for distribution to Certificateholders in accordance with Article V on such Distribution Date. Amounts on deposit in the Capitalized Interest Account may be invested by the Trustee in Eligible Investments at the written direction of the Depositor. All investment income and other gain on such investments shall be for the benefit of the Depositor and shall be subject to withdrawal on order of the Depositor from time to time. The amount of any losses incurred in respect of any such investments shall be paid by the Depositor by a deposit into the Capitalized Interest Account of its own funds, immediately as realized. In the event the Depositor does not provide written direction to the Trustee pursuant to this Section, all funds on deposit in the Capitalized Interest Account shall be invested in a money market or common trust fund as described in paragraph (viii) of the definition of “Eligible Investments” set forth in Article I. At the end of the Pre-Funding Period, all amounts, if any, on deposit in the Capitalized Interest Account shall be withdrawn by the Trustee and distributed to the Depositor and the Capitalized Interest Account shall be terminated.
Appears in 2 contracts
Samples: Custodial Agreement (Structured Asset Investment Loan Trust 2004-10), Custodial Agreement (Structured Asset Investment Loan Trust 2004-10)
The Capitalized Interest Account. [The Trustee Securities Administrator shall establish and maintain in its name, as Securities Administrator, a trust account (the “Capitalized Interest Account”) entitled “Capitalized Interest Account, LaSalle Bank National Association[ ], as TrusteeSecurities Administrator, in trust for the benefit of the Holders of Structured Asset Investment Loan “HomeBanc Mortgage Trust [ ] Mortgage Pass-Through Certificates, Series 2004-10Backed Notes.” The Capitalized Interest Account shall be an Eligible Account and if the account ceases to be an Eligible Account, the Securities Administrator shall establish a new Capitalized Interest Account that is also an Eligible Account within five Business Days and transfer all funds and investment property on deposit in the Capitalized Interest Account into such new Capitalized Interest Account. On the Closing Date, the Depositor shall deposit in the Capitalized Interest Account the Original Capitalized Interest Amount. On the Business Day preceding any Distribution Payment Date occurring during the Pre-Funding Period, the Trustee Securities Administrator shall withdraw from the Capitalized Interest Account an amount equal to the Capitalized Interest Requirement (based on a monthly report provided to the Trustee by the Securities Administrator no later than such Business Day) for deposit into the Certificate Note Payment Account for distribution to Certificateholders Noteholders in accordance with this Article V VI on such Distribution Payment Date. Amounts on deposit in the Capitalized Interest Account may be invested by the Trustee Securities Administrator in Eligible Investments at the written direction of the Depositor. All investment income and other gain on such investments shall be for the benefit of the Depositor and shall be subject to withdrawal on order of the Depositor from time to time. The amount of any losses incurred in respect of any such investments shall be paid by the Depositor by a deposit into the Capitalized Interest Account of its own funds, immediately as realized. In the event the Depositor does not provide written direction to the Trustee pursuant to this Section, all funds on deposit in the Capitalized Interest Account shall be invested in a money market or common trust fund as described in paragraph (viii) of the definition of “Eligible Investments” set forth in Article I. At the end of the Pre-Funding Period, all amounts, if any, on deposit in the Capitalized Interest Account shall be withdrawn by the Trustee Securities Administrator and distributed to the Depositor and the Capitalized Interest Account shall be terminated.
Appears in 1 contract
Samples: Transfer and Servicing Agreement (HMB Acceptance Corp.)
The Capitalized Interest Account. [The Trustee Securities Administrator shall establish and maintain in its name, as Securities Administrator, a trust account (the “Capitalized Interest Account”) entitled “Capitalized Interest Account, LaSalle Bank National Association[ ], as TrusteeSecurities Administrator, in trust for the benefit of the Holders of Structured Asset Investment Loan “TBW Mortgage Trust [ ] Mortgage Pass-Through Certificates, Series 2004-10.” The Capitalized Interest Account shall be an Eligible Account and if the account ceases to be an Eligible Account, the Securities Administrator shall establish a new Capitalized Interest Account that is also an Eligible Account within five Business Days and transfer all funds and investment property on deposit in the Capitalized Interest Account into such new Capitalized Interest Account. On the Closing Date, the Depositor shall deposit in the Capitalized Interest Account the Original Capitalized Interest Amount. On the Business Day preceding any Distribution Date occurring during the Pre-Funding Period, the Trustee Securities Administrator shall withdraw from the Capitalized Interest Account an amount equal to the Capitalized Interest Requirement (based on a monthly report provided to the Trustee by the Securities Administrator no later than such Business Day) for deposit into the Certificate Distribution Account for distribution to Certificateholders in accordance with this Article V VI on such Distribution Date. Amounts on deposit in the Capitalized Interest Account may be invested by the Trustee Securities Administrator in Eligible Investments at the written direction of the Depositor. All investment income and other gain on such investments shall be for the benefit of the Depositor and shall be subject to withdrawal on order of the Depositor from time to time. The amount of any losses incurred in respect of any such investments shall be paid by the Depositor by a deposit into the Capitalized Interest Account of its own funds, immediately as realized. In the event the Depositor does not provide written direction to the Trustee pursuant to this Section, all funds on deposit in the Capitalized Interest Account shall be invested in a money market or common trust fund as described in paragraph (viii) of the definition of “Eligible Investments” set forth in Article I. At the end of the Pre-Funding Period, all amounts, if any, on deposit in the Capitalized Interest Account shall be withdrawn by the Trustee Securities Administrator and distributed to the Depositor and the Capitalized Interest Account shall be terminated.
Appears in 1 contract
The Capitalized Interest Account. The Trustee shall establish and maintain in its name, as trustee, a trust account (the “"Capitalized Interest Account”") entitled “"Capitalized Interest Account, LaSalle Bank One, National Association, as Trustee, in trust for the benefit of the Holders of Structured Asset Investment Loan Amortizing Residential Collateral Trust Mortgage Pass-Through Certificates, Series 20042002-10.” BC2". The Capitalized Interest Account shall be an Eligible Account. On the Closing Date, the Depositor shall deposit in the Capitalized Interest Account the Original Capitalized Interest Amount. On the Business Day preceding any Distribution Date occurring during the Pre-Funding Period, Period the Trustee shall withdraw from the Capitalized Interest Account an amount equal to the Capitalized Interest Requirement (based on a monthly report provided to the Trustee by the Securities Administrator no later than such Business Day) for deposit into the Certificate Account Amount for distribution to Certificateholders in accordance with Article V on such Distribution Date. Amounts on deposit in the Capitalized Interest Account may be invested by the Trustee in Eligible Investments at the written direction of the Depositor. All investment income and other gain on such investments shall be for the benefit of the Depositor and shall be subject to withdrawal on order of the Depositor from time to time. The amount of any losses incurred in respect of any such investments shall be paid by the Depositor by a deposit into the Capitalized Interest Account of its own funds, immediately as realized. In the event the Depositor does not provide written direction to the Trustee pursuant to this Section, all funds on deposit in the Capitalized Interest Account shall be invested in a money market or common trust fund as described in paragraph (viii) of the definition of “"Eligible Investments” Investment" set forth in Article I. At the end of the Pre-Funding Period, all amounts, if any, on deposit in the Capitalized Interest Account shall be withdrawn by the Trustee and distributed to the Depositor and the Capitalized Interest Account shall be terminated.
Appears in 1 contract
Samples: Custodial Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc2)
The Capitalized Interest Account. The Indenture Trustee shall establish and maintain in its namethe name of the Securities Intermediary, a trust an account (the “Capitalized Interest Account”) entitled “Capitalized Interest Account, LaSalle Bank National AssociationJPMorgan Chase Bank, as Indenture Trustee, in trust for the benefit of the Holders of Structured Asset Investment Securities Corporation Mortgage Loan Trust Mortgage Pass2002-Through Certificates9 Mortgage-Backed Securities, Series 20042002-109.” The Capitalized Interest Account shall be an Eligible Account. On the Closing Date, the Depositor Seller shall deposit in the Capitalized Interest Account the Original Capitalized Interest Amount. On the Business Day preceding any Distribution Payment Date occurring during the Pre-Funding Period, Period the Indenture Trustee shall withdraw from the Capitalized Interest Account an amount equal to the Capitalized Interest Requirement (based on a monthly report provided to the Trustee by the Securities Administrator no later than such Business Day) for deposit into the Certificate Note Account for distribution to Certificateholders Noteholders in accordance with Article V 5.03(b) on such Distribution Payment Date. Amounts At the end of the Pre-Funding Period, all amounts, if any, on deposit in the Capitalized Interest Account shall be distributed to the Seller and the Capitalized Interest Account shall be terminated. The Indenture Trustee may invest, or cause to be invested, funds held in the Capitalized Interest Account at the direction of the Seller, which funds, if invested, shall be invested by the Trustee in Eligible Investments at the written direction (which may be obligations of the DepositorIndenture Trustee). All investment such investments must be payable on demand or mature no later than one Business Day prior to the next Payment Date, and shall not be sold or disposed of prior to their maturity. All such Eligible Investments will be made in the name of the Indenture Trustee (in its capacity as such) or its nominee. All income and other gain on realized from any such investments investment shall be held in trust for the benefit of Securityholders until withdrawn from the Depositor and shall be subject to withdrawal on order of the Depositor from time to time. Capitalized Interest Account as provided in this Article V. The amount of any losses incurred in respect of any such investments shall be paid by the Depositor by a Seller for deposit into in the Capitalized Interest Account out of its own funds, without any right of reimbursement therefor, immediately as realized. In the event the Depositor Seller does not provide written direction to the Indenture Trustee pursuant to this Section, all funds on deposit in the Capitalized Interest Account shall be invested in a money market or common trust fund as described in paragraph (viii) of the definition of “Eligible InvestmentsInvestment” set forth in Article I. At the end of the Pre-Funding Period, all amounts, if any, on deposit in the Capitalized Interest Account shall be withdrawn by the Trustee and distributed to the Depositor and the Capitalized Interest Account shall be terminated.I.
Appears in 1 contract
Samples: Custodial Agreement (Structured Asset Securities Corp Mort Back Notes Ser 2002 9)
The Capitalized Interest Account. The Trustee shall establish and maintain in its name, a trust account (the “Capitalized Interest Account”) entitled “Capitalized Interest Account, LaSalle Bank National Association, as Trustee, in trust for the benefit of the Holders of Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2004-106.” The Capitalized Interest Account shall be an Eligible Account. On the Closing Date, the Depositor shall deposit in the Capitalized Interest Account the Original Capitalized Interest Amount. On the Business Day preceding any Distribution Date occurring during the Pre-Funding Period, the Trustee shall withdraw from the Capitalized Interest Account an amount equal to the Capitalized Interest Requirement (based on a monthly report provided to the Trustee by the Securities Administrator no later than such Business Day) for deposit into the Certificate Account for distribution to Certificateholders in accordance with Article V on such Distribution Date. Amounts on deposit in the Capitalized Interest Account may be invested by the Trustee in Eligible Investments at the written direction of the Depositor. All investment income and other gain on such investments shall be for the benefit of the Depositor and shall be subject to withdrawal on order of the Depositor from time to time. The amount of any losses incurred in respect of any such investments shall be paid by the Depositor by a deposit into the Capitalized Interest Account of its own funds, immediately as realized. In the event the Depositor does not provide written direction to the Trustee pursuant to this Section, all funds on deposit in the Capitalized Interest Account shall be invested in a money market or common trust fund as described in paragraph (viii) of the definition of “Eligible Investments” set forth in Article I. At the end of the Pre-Funding Period, all amounts, if any, on deposit in the Capitalized Interest Account shall be withdrawn by the Trustee and distributed to the Depositor and the Capitalized Interest Account shall be terminated.
Appears in 1 contract
Samples: Custodial Agreement (Structured Asset Investment Loan Trust 2004-6)
The Capitalized Interest Account. [The Trustee Securities Administrator shall establish and maintain in its name, as Securities Administrator, a trust account (the “Capitalized Interest Account”) entitled “Capitalized Interest Account, LaSalle Bank National Association[ ], as TrusteeSecurities Administrator, in trust for the benefit of the Holders of Structured Asset Investment Loan “HomeBanc Mortgage Trust [ ] Mortgage Pass-Through Certificates, Series 2004-10.” The Capitalized Interest Account shall be an Eligible Account and if the account ceases to be an Eligible Account, the Securities Administrator shall establish a new Capitalized Interest Account that is also an Eligible Account within five Business Days and transfer all funds and investment property on deposit in the Capitalized Interest Account into such new Capitalized Interest Account. On the Closing Date, the Depositor shall deposit in the Capitalized Interest Account the Original Capitalized Interest Amount. On the Business Day preceding any Distribution Date occurring during the Pre-Funding Period, the Trustee Securities Administrator shall withdraw from the Capitalized Interest Account an amount equal to the Capitalized Interest Requirement (based on a monthly report provided to the Trustee by the Securities Administrator no later than such Business Day) for deposit into the Certificate Distribution Account for distribution to Certificateholders in accordance with this Article V VI on such Distribution Date. Amounts on deposit in the Capitalized Interest Account may be invested by the Trustee Securities Administrator in Eligible Investments at the written direction of the Depositor. All investment income and other gain on such investments shall be for the benefit of the Depositor and shall be subject to withdrawal on order of the Depositor from time to time. The amount of any losses incurred in respect of any such investments shall be paid by the Depositor by a deposit into the Capitalized Interest Account of its own funds, immediately as realized. In the event the Depositor does not provide written direction to the Trustee pursuant to this Section, all funds on deposit in the Capitalized Interest Account shall be invested in a money market or common trust fund as described in paragraph (viii) of the definition of “Eligible Investments” set forth in Article I. At the end of the Pre-Funding Period, all amounts, if any, on deposit in the Capitalized Interest Account shall be withdrawn by the Trustee Securities Administrator and distributed to the Depositor and the Capitalized Interest Account shall be terminated.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HMB Acceptance Corp.)
The Capitalized Interest Account. The Indenture Trustee shall establish and maintain in its namethe name of the Securities Intermediary, a trust an account (the “Capitalized Interest Account”) entitled “Capitalized Interest Account, LaSalle U.S. Bank National Association, as Indenture Trustee, in trust for the benefit of the Holders of Structured Asset Investment SASCO Mortgage Loan Trust 2003-GEL1 Mortgage Pass-Through CertificatesBacked Notes, Series 20042003-10GEL1.” The Capitalized Interest Account shall be an Eligible Account. On the Closing Date, the Depositor shall deposit in the Capitalized Interest Account the Original Capitalized Interest Amount. On the Business Day preceding any Distribution Payment Date occurring during the Pre-Funding Period, Period the Indenture Trustee shall withdraw from the Capitalized Interest Account an amount equal to the Capitalized Interest Requirement (based on a monthly report provided to the Trustee by the Securities Administrator no later than such Business Day) for deposit into the Certificate Note Account for distribution to Certificateholders Noteholders in accordance with Article V 5.03(b) on such Distribution Payment Date. Amounts on deposit in the Capitalized Interest Account may be invested by the Indenture Trustee in Eligible Investments at the written direction of the Depositor. All investment income and other gain on such investments shall be for the benefit of the Depositor and shall be subject to withdrawal on order of the Depositor from time to time. The amount of any losses incurred in respect of any such investments shall be paid by the Depositor by a deposit into the Capitalized Interest Account of its own funds, immediately as realized. In the event the Depositor does not provide written direction to the Indenture Trustee pursuant to this Section, all funds on deposit in the Capitalized Interest Account shall be invested in a money market or common trust fund as described in paragraph (viii) of the definition of “Eligible Investments” set forth in Article I. At the end of the Pre-Funding Period, all amounts, if any, on deposit in the Capitalized Interest Account shall be withdrawn by the Indenture Trustee and distributed to the Depositor and the Capitalized Interest Account shall be terminated.
Appears in 1 contract
Samples: Custodial Agreement (Sasco Mortgage Loan Trust Series 2003-Gel1)
The Capitalized Interest Account. [The Trustee Securities Administrator shall establish and maintain in its name, as Securities Administrator, a trust account (the “Capitalized Interest Account”) entitled “Capitalized Interest Account, LaSalle Bank National Association[ ], as TrusteeSecurities Administrator, in trust for the benefit of the Holders of Structured Asset Investment Loan “TBW Mortgage Trust [ ] Mortgage Pass-Through Certificates, Series 2004-10Backed Notes.” The Capitalized Interest Account shall be an Eligible Account and if the account ceases to be an Eligible Account, the Securities Administrator shall establish a new Capitalized Interest Account that is also an Eligible Account within five Business Days and transfer all funds and investment property on deposit in the Capitalized Interest Account into such new Capitalized Interest Account. On the Closing Date, the Depositor shall deposit in the Capitalized Interest Account the Original Capitalized Interest Amount. On the Business Day preceding any Distribution Payment Date occurring during the Pre-Funding Period, the Trustee Securities Administrator shall withdraw from the Capitalized Interest Account an amount equal to the Capitalized Interest Requirement (based on a monthly report provided to the Trustee by the Securities Administrator no later than such Business Day) for deposit into the Certificate Note Payment Account for distribution to Certificateholders Noteholders in accordance with this Article V VI on such Distribution Payment Date. Amounts on deposit in the Capitalized Interest Account may be invested by the Trustee Securities Administrator in Eligible Investments at the written direction of the Depositor. All investment income and other gain on such investments shall be for the benefit of the Depositor and shall be subject to withdrawal on order of the Depositor from time to time. The amount of any losses incurred in respect of any such investments shall be paid by the Depositor by a deposit into the Capitalized Interest Account of its own funds, immediately as realized. In the event the Depositor does not provide written direction to the Trustee pursuant to this Section, all funds on deposit in the Capitalized Interest Account shall be invested in a money market or common trust fund as described in paragraph (viii) of the definition of “Eligible Investments” set forth in Article I. At the end of the Pre-Funding Period, all amounts, if any, on deposit in the Capitalized Interest Account shall be withdrawn by the Trustee Securities Administrator and distributed to the Depositor and the Capitalized Interest Account shall be terminated.
Appears in 1 contract
The Capitalized Interest Account. The Trustee shall establish and maintain in its name, a trust account (the “Capitalized Interest Account”) entitled “Capitalized Interest Account, LaSalle Bank National Association, as Trustee, in trust for the benefit of the Holders of Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 2004-104.” The Capitalized Interest Account shall be an Eligible Account. On the Closing Date, the Depositor shall deposit in the Capitalized Interest Account the Original Capitalized Interest Amount. On the Business Day preceding any Distribution Date occurring during the Pre-Funding Period, the Trustee shall withdraw from the Capitalized Interest Account an amount equal to the Capitalized Interest Requirement (based on a monthly report provided to the Trustee by the Securities Administrator no later than such Business Day) for deposit into the Certificate Account for distribution to Certificateholders in accordance with Article V on such Distribution Date. Amounts on deposit in the Capitalized Interest Account may be invested by the Trustee in Eligible Investments at the written direction of the Depositor. All investment income and other gain on such investments shall be for the benefit of the Depositor and shall be subject to withdrawal on order of the Depositor from time to time. The amount of any losses incurred in respect of any such investments shall be paid by the Depositor by a deposit into the Capitalized Interest Account of its own funds, immediately as realized. In the event the Depositor does not provide written direction to the Trustee pursuant to this Section, all funds on deposit in the Capitalized Interest Account shall be invested in a money market or common trust fund as described in paragraph (viii) of the definition of “Eligible Investments” set forth in Article I. At the end of the Pre-Funding Period, all amounts, if any, on deposit in the Capitalized Interest Account shall be withdrawn by the Trustee and distributed to the Depositor and the Capitalized Interest Account shall be terminated.
Appears in 1 contract
Samples: Trust Agreement (Structured Asset Investment Loan Trust 2004-4)
The Capitalized Interest Account. The Trustee shall establish and maintain in its name, as trustee, a trust account (the “"Capitalized Interest Account”") entitled “"Capitalized Interest Account, LaSalle Bank One, National Association, as Trustee, in trust for the benefit of the Holders of Structured Asset Investment Loan Amortizing Residential Collateral Trust Mortgage Pass-Through Certificates, Series 20042001-10.” BC6". The Capitalized Interest Account shall be an Eligible Account. On the Closing Date, the Depositor shall deposit in the Capitalized Interest Account the Original Capitalized Interest Amount. On the Business Day preceding any Distribution Date occurring during the Pre-Funding Period, Period the Trustee shall withdraw from the Capitalized Interest Account an amount equal to the Capitalized Interest Requirement (based on a monthly report provided to the Trustee by the Securities Administrator no later than such Business Day) for deposit into the Certificate Account Amount for distribution to Certificateholders in accordance with Article V on such Distribution Date. Amounts on deposit in the Capitalized Interest Account may be invested by the Trustee in Eligible Investments at the written direction of the Depositor. All investment income and other gain on such investments shall be for the benefit of the Depositor and shall be subject to withdrawal on order of the Depositor from time to time. The amount of any losses incurred in respect of any such investments shall be paid by the Depositor by a deposit into the Capitalized Interest Account of its own funds, immediately as realized. In the event the Depositor does not provide written direction to the Trustee pursuant to this Section, all funds on deposit in the Capitalized Interest Account shall be invested in a money market or common trust fund as described in paragraph (viii) of the definition of “"Eligible Investments” Investment" set forth in Article I. At the end of the Pre-Funding Period, all amounts, if any, on deposit in the Capitalized Interest Account shall be withdrawn by the Trustee and distributed to the Depositor and the Capitalized Interest Account shall be terminated.
Appears in 1 contract
Samples: Custodial Agreement (Structured Ass Sec Cor a R Col Tr MRT Ps THR CRT Ser 01-Bc6)
The Capitalized Interest Account. The Trustee shall establish and maintain in its name, a trust an eligible account (the “Capitalized Interest Account”) entitled “Capitalized Interest Account, LaSalle Bank National Association, as Trustee, in trust for the benefit of the Holders of Structured Asset Investment Loan Trust Mortgage Pass-Through Certificates, Series 20042003-10BC11.” The Capitalized Interest Account shall be an Eligible Account. On the Closing Date, the Depositor shall deposit in the Capitalized Interest Account the Original Capitalized Interest Amount. On the Business Day preceding any Distribution Date occurring during the Pre-Funding Period, the Trustee shall withdraw from the Capitalized Interest Account an amount equal to the Capitalized Interest Requirement (based on a monthly report as calculated and provided to the Trustee by the Securities Administrator no later than such Business DayAdministrator) for deposit into the Certificate Account Amount for distribution to Certificateholders in accordance with Article V on such Distribution Date. Amounts on deposit in the Capitalized Interest Account may be invested by the Trustee in Eligible Investments at the written direction of the Depositor. All investment income and other gain on such investments shall be for the benefit of the Depositor and shall be subject to withdrawal on order of the Depositor from time to time. The amount of any losses incurred in respect of any such investments shall be paid by the Depositor by a deposit into the Capitalized Interest Account of its own funds, immediately as realized. In the event the Depositor does not provide written direction to the Trustee pursuant to this Section, all funds on deposit in the Capitalized Interest Account shall be invested in a money market or common trust fund as described in paragraph (viii) of the definition of “Eligible Investments” set forth in Article I. At the end of the Pre-Funding Period, all amounts, if any, on deposit in the Capitalized Interest Account shall be withdrawn by the Trustee and distributed to the Depositor and the Capitalized Interest Account shall be terminated.
Appears in 1 contract
Samples: Custodial Agreement (Structured Asset Sec Corp Mort Pass THR Certs Ser 2003-Bc11)
The Capitalized Interest Account. The Trustee shall establish and maintain in its name, as trustee, a trust account (the “"Capitalized Interest Account”") entitled “"Capitalized Interest Account, LaSalle Bank One, National Association, as Trustee, in trust for the benefit of the Holders of Structured Asset Investment Loan Amortizing Residential Collateral Trust Mortgage Pass-Through Certificates, Series 20042002-10.” BC1". The Capitalized Interest Account shall be an Eligible Account. On the Closing Date, the Depositor shall deposit in the Capitalized Interest Account the Original Capitalized Interest Amount. On the Business Day preceding any Distribution Date occurring during the Pre-Funding Period, Period the Trustee shall withdraw from the Capitalized Interest Account an amount equal to the Capitalized Interest Requirement (based on a monthly report provided to the Trustee by the Securities Administrator no later than such Business Day) for deposit into the Certificate Account Amount for distribution to Certificateholders in accordance with Article V on such Distribution Date. Amounts on deposit in the Capitalized Interest Account may be invested by the Trustee in Eligible Investments at the written direction of the Depositor. All investment income and other gain on such investments shall be for the benefit of the Depositor and shall be subject to withdrawal on order of the Depositor from time to time. The amount of any losses incurred in respect of any such investments shall be paid by the Depositor by a deposit into the Capitalized Interest Account of its own funds, immediately as realized. In the event the Depositor does not provide written direction to the Trustee pursuant to this Section, all funds on deposit in the Capitalized Interest Account shall be invested in a money market or common trust fund as described in paragraph (viii) of the definition of “"Eligible Investments” Investment" set forth in Article I. At the end of the Pre-Funding Period, all amounts, if any, on deposit in the Capitalized Interest Account shall be withdrawn by the Trustee and distributed to the Depositor and the Capitalized Interest Account shall be terminated.
Appears in 1 contract
Samples: Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-Bc1)