Transfer of the Accounts. Notwithstanding the provisions of Section 9.01, if the Certificate Account shall be maintained with the Servicer or an Affiliate of the Servicer and an Event of Default shall occur and be continuing, the Servicer, after five days' written notice from the Trustee, or in any event within ten days after the occurrence of the Event of Default, shall establish a new account or accounts, which shall be Eligible Accounts, conforming with the requirements of this Agreement at the trust department of the Trustee or with a depository institution other than the Servicer or an Affiliate of the Servicer and promptly transfer all funds in the Certificate Account to such new Certificate Account, which shall thereafter be deemed the Certificate Account for the purposes hereof. [End of Article IX]
Appears in 8 contracts
Samples: Custodial Agreement (Vanderbilt Mort & Fin Inc Senior Sub Pas THR Cert Ser 2002-C), Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc Senior Sub Pas THR Cert Ser 2002 A), Pooling and Servicing Agreement (Vanderbilt Mortgage & Finance Inc)
Transfer of the Accounts. Notwithstanding the provisions of Section 9.01, if the either Certificate Account shall be maintained with the Servicer or an Affiliate of the Servicer and an Event of Default shall occur and be continuing, the Servicer, after five days' written notice from the Trustee, or in any event within ten days after the occurrence of the Event of Default, shall establish a new account or accounts, which shall be Eligible Accounts, conforming with the requirements of this Agreement at the trust department of the Trustee or with a depository institution other than the Servicer or an Affiliate of the Servicer and promptly transfer all funds in the such Certificate Account to such new Certificate Account, which shall thereafter be deemed the Certificate Account for the related Group for the purposes hereof. [End of Article IX]
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc Sen Sub Pas THR Cert Ser 1999c), Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc MFR HSG Sr Sub Pa Th Ce Sr 1998c), Custodial Agreement (Vanderbilt Mort & Finance Pass Through Cert Series 1999b)
Transfer of the Accounts. Notwithstanding the provisions of Section 9.018.01, if the Certificate Account shall be maintained with the Servicer or an Affiliate of the Servicer and an Event of Default shall occur and be continuing, the Servicer, after five days' written notice from the Trustee, or in any event within ten days after the occurrence of the Event of Default, shall establish a new account or accountsaccount, which shall be an Eligible AccountsAccount, conforming with the requirements of this Agreement Agreement, at the trust department of the Trustee or with a depository institution other than the Servicer or an Affiliate of the Servicer Servicer, and shall promptly transfer all funds in the Certificate Account to such new Certificate Account, which shall thereafter be deemed the Certificate Account for the purposes hereof. [End of Article IX].
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Bank of America National Trust & Saving Association), Pooling and Servicing Agreement (Bank of America FSB/Ca), Pooling and Servicing Agreement (Bank of America National Trust & Saving Association)
Transfer of the Accounts. Notwithstanding the provisions ------------------------ of Section 9.01, if the either Certificate Account shall be maintained with the Servicer or an Affiliate of the Servicer and an Event of Default shall occur and be continuing, the Servicer, after five days' written notice from the Trustee, or in any event within ten days after the occurrence of the Event of Default, shall establish a new account or accounts, which shall be Eligible Accounts, conforming with the requirements of this Agreement at the trust department of the Trustee or with a depository institution other than the Servicer or an Affiliate of the Servicer and promptly transfer all funds in the such Certificate Account to such new Certificate Account, which shall thereafter be deemed the Certificate Account for the related Group for the purposes hereof. [(End of Article IX])
Appears in 2 contracts
Samples: Custodial Agreement (Vanderbilt Mort & Fin Inc Pass Throu Cert Ser 1998b), Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc Man Ho Co Se Su Pa Th Ce Se 1998a)
Transfer of the Accounts. Notwithstanding the provisions of ------------------------ Section 9.01, if the Certificate Account shall be maintained with the Servicer or an Affiliate of the Servicer and an Event of Default shall occur and be continuing, the Servicer, after five days' written notice from the Trustee, or in any event within ten days after the occurrence of the Event of Default, shall establish a new account or accounts, which shall be Eligible Accounts, conforming with the requirements of this Agreement at the trust department of the Trustee or with a depository institution other than the Servicer or an Affiliate of the Servicer and promptly transfer all funds in the Certificate Account to such new Certificate Account, which shall thereafter be deemed the Certificate Account for the purposes hereof. [End of Article IX]
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc Sen Sub Pass THR Cert Ser 2000-D)
Transfer of the Accounts. Notwithstanding the provisions of Section 9.018.01, if the Certificate Account Accounts shall be maintained with the Servicer or an Affiliate of the Servicer and an Event of Default shall occur and be continuing, the Servicer, after five days' written notice from the Trustee, or in any event within ten days after the occurrence of the Event of Default, shall establish a new account or accounts, which shall be Eligible Accounts, conforming with the requirements of this Agreement Agreement, at the trust department of the Trustee or with a depository institution other than the Servicer or an Affiliate of the Servicer Servicer, and shall promptly transfer all funds in the applicable Certificate Account to such new Certificate Account, which shall thereafter be deemed the applicable Certificate Account for the purposes hereof. [End of Article IX].
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Greenpoint Credit Corp)
