Accounts Distributions. (a) On or prior to the Closing Date, the Issuer shall cause the Servicer to establish and maintain, in the name of the Indenture Trustee for the benefit of the Owners and the Note Insurer, the Accounts as provided in the Sale and Servicing Agreement. The Indenture Trustee shall deposit amounts into the Accounts in accordance with the terms hereof and the Sale and Servicing Agreement.
(b) On or before the Monthly Remittance Date prior to each Payment Date, the Servicer shall withdraw from the Principal and Interest Account the amounts specified in Section 3.03(a) of the Sale and Servicing Agreement and will deliver such amount to the Indenture Trustee for deposit into the Note Account. No later than the Business Day prior to each Payment Date, to the extent funds are available in the Note Account, the Indenture Trustee shall either retain funds in the Note Account or make the withdrawals from the Note Account and deposits into the other Accounts for distribution on such Payment Date as required pursuant to Section 3.03(b) of the Sale and Servicing Agreement.
(c) On each Payment Date and the Redemption Date, to the extent funds are available in the Note Account, the Indenture Trustee shall make the following distributions from the amounts on deposit in the Note Account in the following order of priority (except as otherwise provided in Section 5.4(b)):
(i) to the Owners of the Notes, the Current Interest for such Payment Date; provided, that if there are not sufficient funds in the Note Account to pay the entire amount of accrued and unpaid interest then due on the Notes, the amount in the Note Account shall be applied to the payment of such interest on the Notes pro rata on the basis of the total such interest due on the Notes; and
(ii) to the Owners of the Notes, the Principal Payment Amount for such Payment Date until the Note Principal Balance is reduced to zero.
(d) The Indenture Trustee shall make claims under the Note Insurance Policy pursuant to Section 7.02 of the Sale and Servicing Agreement and in accordance with the Note Insurance Policy. The Indenture Trustee shall deposit any Insured Payment received from the Note Insurer in the Note Account. All amounts received under the Note Insurance Policy shall be used solely for the payment to Owners of principal and interest on the Notes.
Accounts Distributions. 51 SECTION 8.3 [Reserved]..............................................................................52 SECTION 8.4 Servicer's Monthly Statements...........................................................52 SECTION 8.5 [Reserved]..............................................................................52 SECTION 8.6
Accounts Distributions. (a) On or prior to the Closing Date, the Indenture Trustee shall establish and maintain or cause to be established and maintained, in the name of the Indenture Trustee for the benefit of the Noteholders and the Transferor, the Collection Account as provided in Article V of the Sale and Servicing Agreement into which amounts shall be deposited in accordance with the terms of the Sale and Servicing Agreement.
(b) The Indenture Trustee shall deposit any amounts representing payments on and any collections in respect of the Mortgage Loans received by it, if any, and any other amounts required by the terms of the Transaction Documents to be deposited, immediately following receipt thereof. Amounts on deposit in the Collection Account may be invested in Permitted Investments pursuant to Section 3.02(d) of the Sale and Servicing Agreement.
(c) On each Payment Date and the Redemption Date, to the extent funds are available in the Collection Account, the Indenture Trustee shall make the distributions and payments in the amounts and in the priority set forth in Section 5.01 of the Sale and Servicing Agreement (except as otherwise provided in Section 5.4(b) herein).
(d) On each Payment Date and the Redemption Date, to the extent of the interest of the Indenture Trustee in the Collection Account (as described in Section 5.01 of the Sale and Servicing Agreement), the Indenture Trustee hereby authorizes the Owner Trustee or the Paying Agent, as applicable, to make the distributions from the Collection Account as required pursuant to Section 5.01 of the Sale and Servicing Agreement.
Accounts Distributions. 37 SECTION 8.3
Accounts Distributions. On or prior to the Closing Date, the Indenture Trustee shall establish and maintain or cause to be established and maintained, in the name of the Indenture Trustee for the benefit of the Noteholders, and the Insurer, the Principal and Interest Account as provided in Article III of the Sale and Servicing Agreement and the Distribution Account and the Cross-Collateralization Reserve Accounts as provided Article V of the Sale and Servicing Agreement, into which amounts shall be deposited in accordance with the terms of the Sale and Servicing Agreement.
Accounts Distributions. Statements to Noteholders -------------------------
Accounts Distributions. (a) On or prior to the Closing Date, the Indenture Trustee shall establish and maintain or cause to be established and maintained, in the name of the Indenture Trustee for the benefit of the Noteholders, and the Insurer, the Principal and Interest Account as provided in Article III of the Sale and Servicing Agreement and the Distribution Account and the Cross-Collateralization Reserve Accounts as provided Article V of the Sale and Servicing Agreement, into which amounts shall be deposited in accordance with the terms of the Sale and Servicing Agreement.
(b) The Indenture Trustee shall deposit any amounts representing payments on and any collections in respect of the Home Equity Loans received by it, if any, and any other amounts required by the terms of the Transaction Documents to be deposited, immediately following receipt thereof, including, without limitation, all amounts withdrawn by the Servicer from the Principal and Interest Account pursuant to Article III of the Sale and Servicing Agreement for deposit to the Distribution Account. Amounts on deposit in the Distribution Account may be invested in Eligible Investments pursuant to Section 5.06 of the Sale and Servicing Agreement.
(c) On each Distribution Date and the Redemption Date, to the extent funds are available in the Distribution Account, the Indenture Trustee shall make the distributions and payments in the amounts and in the priority set forth in Section 5.01 of the Sale and Servicing Agreement (except as otherwise provided in Section 5.4(b) herein).
(d) On each Distribution Date and the Redemption Date, to the extent of the interest of the Indenture Trustee in the Distribution Account (as described in Section 5.05 of the Sale and Servicing Agreement), the Indenture Trustee hereby authorizes the Owner Trustee or the Paying Agent, as applicable, to make the distributions from the Distribution Account as required pursuant to Sections 5.01 and 5.02 of the Sale and Servicing Agreement.
Accounts Distributions. [Reserved] Section 8.4. Master Servicer’s Monthly Statements Section 8.5. [Reserved] Section 8.6. Opinion of Counsel
Accounts Distributions. STATEMENTS TO NOTEHOLDERS -------------------------
Accounts Distributions. 38 SECTION 8.3 General Provisions Regarding Accounts.................... 39 4
