Custodial Accounts; Distribution Account. (a) On or prior to the Closing Date, the Master Servicer shall have caused each Servicer to establish and maintain one or more Custodial Accounts, as provided in the related Purchase and Servicing Agreement, into which all Scheduled Payments and unscheduled payments with respect to the related Mortgage Loans, net of any deductions or reimbursements permitted under the related Purchase and Servicing Agreement, shall be deposited. On each Distribution Account Deposit Date, the Servicers shall remit to the Securities Administrator for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the related Purchase and Servicing Agreements.
(b) The Securities Administrator, as Paying Agent for the Trust, shall establish and maintain an Eligible Account entitled “Distribution Account of Xxxxx Fargo Bank, N.A., as Securities Administrator for the benefit of Xxxxxx Xxxxxxx Mortgage Loan Trust 2007-10XS, Holders of Mortgage Pass-Through Certificates.” The Securities Administrator shall, promptly upon receipt from the Servicers on each related Distribution Account Deposit Date, deposit into the Distribution Account and retain on deposit until the related Distribution Date the following amounts:
(i) the aggregate of collections with respect to the Mortgage Loans remitted by the Servicers from the related Custodial Accounts in accordance with the Purchase and Servicing Agreements;
(ii) any amounts required to be deposited by the Master Servicer with respect to the Mortgage Loans for the related Due Period pursuant to this Agreement, including the amount of any Advances or Compensating Interest Payments with respect to the Mortgage Loans not paid by the Servicers; and
(iii) any other amounts so required to be deposited in the Distribution Account in the related Due Period pursuant to this Agreement.
(c) In the event the Master Servicer or a Servicer has remitted in error to the Distribution Account any amount not required to be remitted in accordance with the definition of Available Distribution Amount, it may at any time direct the Securities Administrator to withdraw such amount from the Distribution Account for repayment to the Master Servicer or Servicer, as applicable, by delivery of an Officer’s Certificate to the Securities Administrator and the Trustee which describes the amount deposited in error.
Custodial Accounts; Distribution Account. 56 Section 4.02 Permitted Withdrawals from the Custodial Accounts and the Distribution Account.................58 Section 4.03 [Reserved].....................................................................................59 Section 4.04 [Reserved].....................................................................................59 Section 4.05 Reports to Trustee and Certificateholders......................................................59
Custodial Accounts; Distribution Account. 55 Section 4.02. Reports to Trustee and Certificateholders............................................ 56 ARTICLE V.
Custodial Accounts; Distribution Account. 57 Section 4.02 [Reserved]................................................................................... 59 Section 4.03 [Reserved]................................................................................... 59 Section 4.04. Reports to Trustee and Certificateholders.................................................... 59
Custodial Accounts; Distribution Account. [Reserved].
Custodial Accounts; Distribution Account. (a) On or prior to the Closing Date, the Servicer shall establish and maintain one or more Custodial Accounts, as provided herein, into which the Servicer shall deposit daily, within two Business Days of receipt thereof, in immediately available funds, any Scheduled Payments and unscheduled payments with respect to the Mortgage Loans, net of any deductions or reimbursements permitted under this Agreement. Prior to 1:00 p.m. New York City time on each Distribution Account Deposit Date, the Servicer shall remit to the Trustee for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of this Agreement.
Custodial Accounts; Distribution Account. Permitted Withdrawals from the Distribution Account. 55 Section 4.03 Enforcement of Servicer’s Obligations. 56 Section 4.04 Reports to Certificateholders. 57
Custodial Accounts; Distribution Account. (a) On or prior to the Closing Date, the Master Servicer shall have caused each Servicer to establish and maintain one or more Custodial Accounts, as provided in the related Purchase and Servicing Agreement, into which all Scheduled Payments and unscheduled payments with respect to the related Mortgage Loans, net of any deductions or reimbursements permitted under the related Purchase and Servicing Agreement, shall be deposited. On each Distribution Account Deposit Date, the Servicers shall remit to the Securities Administrator for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the related Purchase and Servicing Agreements.
(b) The Securities Administrator, as Paying Agent for the Trust, shall establish and maintain an Eligible Account entitled "Distribution Account of LaSalle Bank National Association, as Trustee for the benefit of Morgan Stanley Mortgage Loan Trust 2007-6XS, Holders of Mortgage Pxxx-Xxrxxxx Xxrtificates." The Securities Administrator shall, promptly upon receipt from the Servicers on each related Distribution Account Deposit Date, deposit into the Distribution Account and retain on deposit until the related Distribution Date the following amounts:
Custodial Accounts; Distribution Account. SECTION 4.02 [Reserved]. SECTION 4.03 [Reserved]. SECTION 4.04 Reports to Trustee and Certificateholders. 63
Custodial Accounts; Distribution Account. 61 Section 4.02. The Securities Account..................................................... 62 Section 4.03. Liability of the Securities Intermediary................................... 65 Section 4.04. Reports to Trustee and Certificateholders.................................. 65
