Deposits to Custodial Accounts. Except as otherwise provided in the related Servicing Contract, the following payments and collections will be deposited to a Custodial Account: (a) As soon as practicable, but not later than the second Business Day (including any time during which funds were in a clearing or general ledger account) after receipt by the Direct Servicer, all payments of principal and interest from or on behalf of Borrowers (including Prepayments) other than any Servicing Fee, LPMI Charges, Excess Spread, Designated Excess Spread, and any amounts used to reimburse Delinquency Advances of the Direct Servicer to the extent permitted by the Servicing Contract; provided that
Appears in 3 contracts
Sources: Single Family Master Trust Agreement, Second Amended and Restated 2007 Single Family Master Trust Agreement, 2009 Single Family Master Trust Agreement