Common use of Collection and Servicing Rights Clause in Contracts

Collection and Servicing Rights. So long as no Event of Default shall have occurred, the Company shall be entitled to service, receive and collect directly all sums payable to the Company in respect of the Collateral, except amounts payable to the Company for the purchase by any Investor under a Purchase Commitment of any Mortgage Loans which are funded in whole or in part with the proceeds of any Advance, which amounts shall be paid directly to the Bank. The Company shall direct each Investor to pay the amounts payable for the purchase of such Mortgage Loans directly to the Bank. Following the occurrence of any Event of Default, the Bank shall thereafter, upon written notice to the Company, be entitled to service, receive and collect all stuns payable to the Company in respect of the Collateral, and in such case: (a) the Bank in its discretion may, in its own name or in the name of the Company or otherwise, demand, sue for, collect or receive any money or property at any time payable ▇▇ receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so; (b) the Company shall, if the Bank requests, forthwith pay to the Bank at its principal office or such other place as the Bank may designate all amounts thereafter received by the Company upon or in respect or any of the Collateral, advising the Bank as to the source of such funds; and (c) all amounts so received and collected by the Bank shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of ------------------------------- Default shall have occurred, the Company shall be entitled to service, receive and collect directly all sums payable to the Company in respect of the Collateral, except amounts payable to the Company for the purchase by any Investor under a Purchase Commitment of any Mortgage Loans which are funded in whole or in part with the proceeds of any Advance, which amounts shall be he paid directly to the Bank. The Company shall direct each Investor to pay the amounts payable for the purchase of such Mortgage Loans directly to the Bank. Following the occurrence of any Event of Default, the Bank shall thereafter, upon written notice to the Company, be thereafter he entitled to service, receive and collect all stuns sums payable to the Company in respect of the Collateral, and in such case: case (a) the Bank in its discretion may, in its own name or in the name of the Company or otherwise, demand, sue ▇▇▇ for, collect or receive any money or property at any time payable ▇▇ or receivable on account of or in exchange for any of the Collateral, but shall be he under no obligation to do so; , (b) the Company shall, if the Bank so requests, forthwith pay to the Bank at its principal office or such other place as the Bank may designate all amounts thereafter received by the Company upon or in respect or of any of the Collateral, advising the Bank as to the source of such funds; , and (c) all amounts so received and collected by the Bank shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall have occurred, the Company shall be entitled to service, receive and collect directly all sums payable to the Company in respect of the Collateral, except amounts payable to the Company for the purchase by any Investor under a Purchase Commitment of any Mortgage Loans which are funded in whole or in part with the proceeds of any Advance, which amounts shall be paid directly to the BankBanks. The Company shall direct each Investor to pay the amounts payable for the purchase of such Mortgage Loans directly to the BankBanks. Following the occurrence of any Event of Default, the Bank Banks shall thereafter, upon written notice to the Company, thereafter be entitled to service, receive and collect all stuns sums payable to the Company in respect of the Collateral, and in such case: case (a) the Bank Banks in its discretion may, in its their own name or in the name of the Company or otherwise, demand, sue ▇▇▇ for, collect or receive any money or property at any time payable ▇▇ or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so; , (b) the Company shall, if the Bank Banks so requests, forthwith pay to the Bank Banks at its principal office or such other place as the Bank Banks may designate all amounts thereafter received by the Company upon or in respect or of any of the Collateral, advising the Bank Banks as to the source of such funds; , and (c) all amounts so received and collected by the Bank Banks shall be held by it as part of the Collateral.

Collection and Servicing Rights. So long as no Event of Default shall ------------------------------- have occurred, the Company shall be entitled to service, receive and collect directly all sums payable to the Company in respect of the Collateral, except amounts payable to the Company for the purchase by any Investor under a Purchase Commitment of any Mortgage Loans which are funded in whole or in part with the proceeds of any Advance, which amounts shall be paid directly to the BankLender. The Company shall direct each Investor to pay the amounts payable for the purchase of such Mortgage Loans directly to the BankLender. Following the occurrence of any Event of Default, the Bank Lender shall thereafter, upon written notice to the Company, thereafter be entitled to service, receive and collect all stuns sums payable to the Company in respect of the Collateral, and in such case: case (a) the Bank Lender in its discretion may, in its own name or in the name of the Company or otherwise, demand, sue ▇▇▇ for, collect or receive any money or property at any time payable ▇▇ or receivable on account of or in exchange for any of the Collateral, but shall be under no obligation to do so; , (b) the Company shall, if the Bank Lender so requests, forthwith pay to the Bank Lender at its principal office or such other place as the Bank Lender may designate all amounts thereafter received by the Company upon or in respect or of any of the Collateral, advising the Bank Lender as to the source of such funds; , and (c) all amounts so received and collected by the Bank Lender shall be held by it as part of the Collateral.