The Distribution Account. The Trustee, for the benefit of the Series ------------------------ 1997-1 Certificateholders, shall cause to be established and maintained in the name of the Trust, with an office or branch of a Qualified Institution (other than the Transferor), which shall initially be the Paying Agent, a non-interest bearing segregated account (the "Distribution Account") -------------------- bearing a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Series 1997-1 Certificateholders. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Series 1997-1 Certificateholders."
The Distribution Account. The Trustee, for the benefit of the Investor Certificateholders, shall cause to be established and maintained in the name of the Trust, with an office or branch of a Qualified Institution (other than the Seller), a non-interest bearing segregated demand deposit account (the “Distribution Account”) bearing a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Investor Certificateholders. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Investor Certificateholders.
The Distribution Account. (a) The Indenture Trustee shall establish and maintain in the name of the Securities Intermediary an account (the “Distribution Account”) entitled “Distribution Account, [_________], as Indenture Trustee, in trust for the benefit of the Holders of Structured Asset Securities Corporation Home Equity Loan Trust 20[__]-[__] Home Equity Loan Asset-Backed Notes, Series 20[__]-[__].” The Distribution Account shall be an Eligible Account. If the existing Distribution Account ceases to be an Eligible Account, the Indenture Trustee shall establish a new Distribution Account that is an Eligible Account within 10 Business Days and transfer all funds and investment property on deposit in such existing Distribution Account into such new Distribution Account. The Distribution Account shall relate solely to the Notes issued hereunder and funds in the Distribution Account shall be held separate and apart from and shall not be commingled with any other monies including, without limitation, other monies of the Indenture Trustee held under this Agreement.
(b) The Indenture Trustee shall deposit or cause to be deposited into the Distribution Account on the Business Day immediately following the day on which the Total Distribution Amount is remitted by the Master Servicer to the Indenture Trustee, all such amounts. The Indenture Trustee shall make withdrawals from the Distribution Account only for the following purposes:
(i) to make payment to itself of the Indenture Trustee Fee for such Payment Date and to reimburse itself for any expense reimbursable to it pursuant to Section 6.01;
(ii) to make payment to the Owner Trustee, the Owner Trustee Fee for such Payment Date, if any;
(iii) to withdraw amounts deposited in the Distribution Account in error;
(iv) to make distributions pursuant to this Article V and the terms of the Indenture;
(v) Prior to the last day of the Collection Period preceding the month in which the commencement of the Rapid Amortization Period occurs, to pay to the related Servicer the amount of any Additional Balances relating to Mortgage Loans serviced by it as and when created during the related Collection Period; provided, that the aggregate amount so paid to the related Servicer in respect of Additional Balances at any time during any Collection Period shall not exceed the portion of Principal Collections theretofore received for such Collection Period; and
(vi) to clear and terminate the Distribution Account pursuant to Article VIII.
(c) Any amounts dr...
The Distribution Account. On each Remittance Date, the Master Servicer shall deposit in the Distribution Account all funds remitted to it by the Servicers pursuant to the Servicing Agreements. The Securities Administrator may retain or withdraw from the Distribution Account, (i) the Master Servicing Fee, (ii) amounts necessary to reimburse the Servicers pursuant to the Servicing Agreements, (iii) amounts necessary to reimburse the Master Servicer for any previously unreimbursed Advances and any Advances the Master Servicer deems to be nonrecoverable from the related Mortgage Loan proceeds, (iv) an amount to indemnify the Master Servicer or the Servicers for amounts due in accordance with this Agreement, (v) all amounts representing Prepayment Charges (payable to the Class P Certificateholders), (vi) to reimburse the Master Servicer, any Servicer or the Trustee, as the case may be, for expenses reasonably incurred in respect of any breach or defect giving rise to the repurchase obligation of a Mortgage Loan Seller under a Transfer Agreement or the Sponsor under this Agreement that were included in the Repurchase Price of the Mortgage Loan, including any expenses arising out of the enforcement of the repurchase obligation, to the extent not otherwise paid pursuant to the terms hereof and (vii) any other amounts that each of the Depositor, Trustee, Master Servicer and the Securities Administrator is entitled to receive hereunder for reimbursement, indemnification or otherwise.
The Distribution Account. The Servicer, for the benefit of the Series ------------------------ 1999-1 Investor Certificateholders, shall cause to be established and maintained in the name of the Trustee, on behalf of the Trust, with an office or branch of a Qualified Trust Institution (other than the Transferor), initially Bankers Trust Company, a non-interest bearing segregated demand deposit account maintained in the corporate trust department of such Qualified Trust Institution, and held in trust by such Qualified Trust Institution (the "Distribution Account") bearing a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Series 1999-1
The Distribution Account. The Trustee, for the benefit of the Investor Certificateholders, shall cause to be established and maintained in the name of the Trust, an Eligible Deposit Account bearing a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Investor Certificateholders (the “Distribution Account”). The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Investor Certificateholders.
The Distribution Account. The Trustee, for the benefit of the Investor Certificateholders and each Credit Enhancement Provider (as each’s interests may appear herein or in a related Supplement), shall cause to be established and maintained in the name of the Trust, with an office or branch of a Qualified Institution (other than the Transferor), a segregated trust account (the “Distribution Account”) bearing a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Investor Certificateholders and each Credit Enhancement Provider (as each’s interests may appear herein or in a related Supplement). The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Investor Certificateholders and each Credit Enhancement Provider (as each’s interests may appear herein or in a related Supplement).
The Distribution Account. The Trustee, for the benefit of the Series 2002- CC Certificateholder, shall cause to be established and maintained in the name of the Trust, with an office or branch of a Qualified Institution, which shall initially be the Paying Agent, a non-interest bearing segregated account (the "Distribution Account") bearing a designation clearly indicating that the funds deposited therein are held in trust for the benefit of the Series 2002-CC Certificateholder. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Distribution Account and in all proceeds thereof. The Distribution Account shall be under the sole dominion and control of the Trustee for the benefit of the Series 2002-CC Certificate holder."
The Distribution Account. The Trustee, for the benefit of the Series ------------------------ 1998-1 Certificateholders, shall cause to be established and maintained in the name of the Trust, with an office or branch of a Qualified Institution (other than the Transferor), which shall initially be the Paying Agent, a non-interest
The Distribution Account. (a) The Securities Administrator shall establish and maintain the Distribution Account on behalf of the Certificateholders. The amount remitted by the Servicer to the Master Servicer on each Remittance Date shall be credited to the Distribution Account within two (2) Business Days once the amounts are identified as a remittance in connection with the Trust and reconciled to the reports provided by the Servicer. The Securities Administrator shall establish and maintain the Distribution Account on behalf of the Certificateholders. The Master Servicer shall, promptly upon receipt on the Business Day received, deposit in the Distribution Account and retain therein the following:
(i) the aggregate amount remitted by the Servicers to the Master Servicer pursuant to the Servicing Agreements;
(ii) any amounts remitted as a result of the operation of the Primary Mortgage Insurance Policy, if applicable; and
(iii) any other amounts deposited hereunder which are required to be deposited in the Distribution Account. In the event that any Servicer shall remit any amount not required to be remitted pursuant to the applicable Servicing Agreement, and such Servicer directs the Master Servicer in writing to withdraw such amount from the Distribution Account, the Master Servicer shall return such funds to the applicable Servicer. All funds deposited in the Distribution Account shall be held by the Securities Administrator in trust for the Certificateholders until disbursed in accordance with this Agreement or withdrawn in accordance with Section 4.01.
(b) From time to time, the Securities Administrator may also establish any other accounts for the purposes of carrying out its duties hereunder.
