Escrow and Other Accounts Clause Samples

Escrow and Other Accounts. To the extent that any Mortgage Loan in a Pool provides for the collection of funds from the Borrower for payments of a Borrower’s property taxes and assessments by special assessment districts, ground rents, insurance premiums, and similar expenses, the Direct Servicer will establish one or more escrow accounts with an Eligible Depository or, if approved by the Master Servicer, a financial institution whose accounts are insured by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund or such other governmental insurer or guarantor as may be acceptable to the Guarantor. Each escrow account will be either a demand deposit account (which for this purpose includes a money market deposit account) or an account through which funds are invested in Eligible Investments or such comparable investments as may be acceptable to the Master Servicer. Collection of such taxes, assessments, insurance premiums and related items may be waived, delayed or reinstated, unless prohibited in the related Servicing Contract.
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Escrow and Other Accounts. (a) If any Mortgage Loan in a Pool provides for the collection of funds from the Borrower for payments of a Borrower’s property taxes and assessments by special assessment districts, ground rents, insurance premiums, and similar expenses, the Direct Servicer will establish one or more Escrow Accounts with an Eligible Depository or, if approved by the Master Servicer, a financial institution whose accounts are insured by the Federal Deposit Insurance Corporation, the National Credit Union Share Insurance Fund or such other governmental insurer or guarantor as may be acceptable to the Guarantor. Each Escrow Account will be either a demand deposit account (which for this purpose includes a money market deposit account) or an account through which funds are invested in Eligible Investments. The Direct Servicer will place in one or more Escrow Accounts any funds collected for payments of a Borrower’s property taxes and assessments by special assessment districts, ground rents, insurance premiums, condominium or homeowners’ association or planned unit development association dues and similar expenses, to the extent that the Mortgage Documents provide for collection of such amounts from (or on behalf of) the Borrower. The Direct Servicer may also place Buydown or Abatement Funds into one or more Escrow Accounts. If, however, Buydown or Abatement Funds or other advance payments made by a Borrower are directed for immediate application under the Mortgage Documents, the Direct Servicer may deposit those amounts directly to the Custodial Account. Escrow Account funds may be commingled, but only with the funds of one or more other Escrow Accounts and accounts for the same purposes held for other Trusts, Other ▇▇▇▇▇▇ ▇▇▇ Trusts, and other loans owned by the Issuer, provided that the Direct Servicer maintains records of the amounts held in the commingled account on a loan-by-loan basis. The terms of any Escrow Account that permits the investment of funds on deposit will be subject to such conditions as may be imposed from time to time by the Master Servicer or the Trustee. To the extent permitted under Accepted Servicing Practices, the Direct Servicer may waive, delay or reinstate the collection of any escrow payments for taxes, insurance or other ancillary payments. (b) To the extent funds have been deposited in an Escrow Account pursuant to the related Servicing Contract, the related Direct Servicer will withdraw from an Escrow Account funds needed to pay taxes, asses...
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Related to Escrow and Other Accounts

  • Administrative and Other Fees The Borrower agrees to pay the administrative and other fees of the Administrative Agent as provided in the Fee Letter and as may be otherwise agreed to in writing from time to time by the Borrower and the Administrative Agent.

  • Administrative and Other Services (a) Subadviser will, at its expense, furnish (i) all necessary investment and management facilities, including salaries of personnel required for it to execute its duties faithfully, and (ii) administrative facilities, including bookkeeping, clerical personnel and equipment necessary for the efficient conduct of the investment affairs of the Fund (excluding determination of net asset values and shareholder accounting services). (b) Subadviser will maintain all accounts, books and records with respect to the Fund as are required of an investment adviser of a registered investment company pursuant to the Investment Company Act and the rules thereunder. Subadviser agrees that such records are the property of the Trust, and will be surrendered to the Trust promptly upon request. The Manager shall be granted reasonable access to the records and documents in Subadviser’s possession relating to the Funds. (c) Subadviser shall provide such information as is necessary to enable Manager to prepare and update the Trust’s registration statement (and any supplement thereto) and the Fund’s financial statements. Subadviser understands that the Trust and Manager will rely on such information in the preparation of the Trust’s registration statement and the Fund’s financial statements, and hereby covenants that any such information approved by Subadviser expressly for use in such registration and/or financial statements shall be true and complete in all material respects. (d) Subadviser will vote the Fund’s investment securities in the manner in which Subadviser believes to be in the best interests of the Fund, and shall review its proxy voting activities on a periodic basis with the Trustees.

  • Agreements and Other Documents 29 3.23 Solvency....................................................................................... 29 3.24

  • Bills and Other Disbursements Upon receipt of Instructions, the Custodian shall pay, or cause to be paid, all bills, statements, or other obligations of a Fund.

  • Taxes and other Amounts The Servicer will use its best efforts to collect all payments with respect to amounts due for Taxes, assessments and insurance premiums relating to each Loan Asset to the extent required to be paid to the Borrower for such application under the applicable Loan Agreement and remit such amounts to the appropriate Governmental Authority or insurer as required by the Loan Agreements.