Establishment of Custodial Accounts; Deposits in Custodial Accounts. The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts. Each Custodial Account shall be an Eligible Account. Funds deposited in a Custodial Account may be drawn on in accordance with
Appears in 1 contract
Sources: Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2005-1)
Establishment of Custodial Accounts; Deposits in Custodial Accounts. The Seller shall segregate and hold all funds collected and received pursuant to each Mortgage Loan separate and apart from any of its own funds and general assets and shall establish and maintain one or more Custodial Accounts. Each Custodial Account shall be an Eligible Account. Funds deposited , in a Custodial Account may be drawn on in accordance withthe form of time deposit or demand
Appears in 1 contract
Sources: Master Mortgage Loan Purchase and Servicing Agreement (Sequoia Mortgage Trust 2007-2)