ALLOCATION OF AVAILABLE DISTRIBUTION AMOUNT. On each Distribution Date for a Series, the Trustee shall withdraw all monies on deposit in the related Distribution Account in accordance with the related Remittance Report and shall distribute such amounts in the following order of priority: (1) if OAC is not the Servicer, to pay the Servicer its monthly Servicing Fee, to the extent not previously retained or withdrawn from the Certificate Account by such Servicer or, if OAC is the Servicer, to pay OAC its monthly Servicing Fee in respect of a Distribution Date, but only to the extent that the amounts on deposit in the Certificate Account and attributable to the Available Distribution Amount for such Distribution Date exceed the sum of all amounts to be distributed on the Certificates of the related Series on such Distribution Date prior to the distribution to OAC of its Servicing Fee, as described in the related Pooling and Servicing Agreement in the Section thereof entitled "Distributions"; (2) to reimburse the Servicer from any amounts on deposit in the Distribution Account for any Advance previously made which has become a Non-Recoverable Advance, or to reimburse the Servicer for any other Advance out of Related Proceeds on deposit in the Distribution Account, in either case to the extent not previously retained or withdrawn from the Certificate Account by the Servicer; (3) to reimburse OMI or the Servicer for expenses incurred by or reimbursable to them pursuant to Section 6.05 hereof; (4) to refund any overpayment of a Repurchase Price for an Asset pursuant to Section 2.06(f) hereof; and (5) to distribute to the Certificateholders (or, if more than one REMIC election has been made with respect to the Trust, to distribute to the holders of the Regular Interests and the Residual Interest in the Pooling REMIC), the Available Distribution Amount in accordance with the applicable Pooling and Servicing Agreement.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc), Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc), Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc)
ALLOCATION OF AVAILABLE DISTRIBUTION AMOUNT. On each Distribution Date for a Series, the Trustee shall withdraw all monies on deposit in the related Distribution Account in accordance with the related Remittance Report and shall distribute such amounts in the following order of priority:
(1) if OAC is not the Servicer, to pay the Master Servicer its monthly Servicing Fee, to the extent not previously retained or withdrawn from the Certificate Account by such Servicer or, if OAC is the Master Servicer, to pay OAC its monthly Servicing Fee in respect of a Distribution Date, but only to the extent that the amounts on deposit in the Certificate Account and attributable to the Available Distribution Amount for such Distribution Date exceed the sum of all amounts to be distributed on the Certificates of the related Series on such Distribution Date prior to the distribution to OAC of its Servicing Fee, as described in the related Pooling and Servicing Agreement in the Section thereof entitled "Distributions";
(2) to reimburse the Master Servicer from any amounts on deposit in the Distribution Account for any Advance previously made which has become a Non-Recoverable Advance, or to reimburse the Master Servicer for any other Advance out of Related Proceeds on deposit in the Distribution Account, in either case to the extent not previously retained or withdrawn from the Certificate Account by the Master Servicer;
(3) to reimburse OMI the Depositor or the Master Servicer for expenses incurred by or reimbursable to them pursuant to Section 6.05 hereof;
(4) to refund any overpayment of a Repurchase Price for an Asset pursuant to Section 2.06(f2.05(f) hereof; and
(5) to distribute to the Certificateholders (or, if more than one REMIC election has been made with respect to the Trust, to distribute to the holders of the Regular Interests and the Residual Interest in the Pooling REMIC), the amount of the Available Distribution Amount in accordance with the applicable Pooling and Servicing Agreement.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Residential Resources Inc), Pooling and Servicing Agreement (Union Planters Mortgage Finance Corp)
ALLOCATION OF AVAILABLE DISTRIBUTION AMOUNT. On each Distribution Date for a Series, the Trustee shall withdraw all monies on deposit in the related Distribution Account in accordance with the related Remittance Report and shall distribute such amounts in the following order of priority:
(1) if OAC BCI is not the ServicerServicer or BCI is the Servicer and a Servicing Fee Event has occurred, to pay the Servicer its monthly Servicing Fee, to the extent not previously retained or withdrawn from the Certificate Account by such Servicer or, if OAC BCI is the ServicerServicer and a Servicing Fee Event is not in effect, to pay OAC BCI its monthly Servicing Fee in respect of a Distribution Date, but only to the extent that the amounts on deposit in the Certificate Account and attributable to the Available Distribution Amount for such Distribution Date exceed the sum of all amounts to be distributed on the Certificates of the related Series on such Distribution Date prior to the distribution to OAC BCI of its Servicing Fee, as described in the related Pooling and Servicing Agreement in the Section thereof entitled "Distributions";
(2) to reimburse the Servicer from any amounts on deposit in the Distribution Account for any Advance previously made which has become a Non-Recoverable Advance, or to reimburse the Servicer for any other Advance out of Related Proceeds on deposit in the Distribution Account, in either case to the extent not previously retained or withdrawn from the Certificate Account by the Servicer;
(3) to reimburse OMI the Company or the Servicer for expenses incurred by or reimbursable to them pursuant to Section 6.05 hereof;
(4) to refund any overpayment of a Repurchase Price for an Asset pursuant to Section 2.06(f) hereof; and
(5) to distribute to the Certificateholders (or, if more than one REMIC election has been made with respect to the Trust, to distribute to the holders of the Regular Interests and the Residual Interest in the Pooling REMIC), the amount of the Available Distribution Amount in accordance with the applicable Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bombardier Capital Mortgage Securitization Corp)
ALLOCATION OF AVAILABLE DISTRIBUTION AMOUNT. On each Distribution Date for a Series, the Trustee shall withdraw all monies on deposit in the related Distribution Account in accordance with the related Remittance Report and shall distribute such amounts in the following order of priority:
(1) if OAC is not the Servicer, to pay the Servicer its monthly Servicing Fee, to the extent not previously retained or withdrawn from the Certificate Account by such Servicer or, if OAC is the Servicer, to pay OAC its monthly Servicing Fee in respect of a Distribution Date, but only to the extent that the amounts on deposit in the Certificate Account and attributable to the Available Distribution Amount for such Distribution Date exceed the sum of all amounts to be distributed on the Certificates of the related Series on such Distribution Date prior to the distribution to OAC of its Servicing Fee, as described in the related Pooling and Servicing Agreement in the Section thereof entitled "Distributions";
(2) to reimburse the Servicer from any amounts on deposit in the Distribution Account for any Advance previously made which has become a Non-Recoverable Advance, or to reimburse the Servicer for any other Advance out of Related Proceeds on deposit in the Distribution Account, in either case to the extent not previously retained or withdrawn from the Certificate Account by the Servicer;
(3) to reimburse OMI the Company or the Servicer for expenses incurred by or reimbursable to them pursuant to Section 6.05 hereof;
(4) to refund any overpayment of a Repurchase Price for an Asset pursuant to Section 2.06(f) hereof; and
(5) to distribute to the Certificateholders (or, if more than one REMIC election has been made with respect to the Trust, to distribute to the holders of the Regular Interests and the Residual Interest in the Pooling REMIC), the amount of the Available Distribution Amount in accordance with the applicable Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Deutsche Financial Capital Securitization LLC)
ALLOCATION OF AVAILABLE DISTRIBUTION AMOUNT. On each Distribution Date for a Series, the Trustee shall withdraw all monies on deposit in the related Distribution Account in accordance with the related Remittance Report and shall distribute such amounts in the following order of priority:
(1) if OAC is not the Servicer, to pay the Servicer its monthly Servicing Fee, to the extent not previously retained or withdrawn from the Certificate Account by such Servicer or, if OAC is the Servicer, to pay OAC its monthly Servicing Fee in respect of a Distribution Date, but only to the extent that the amounts on deposit in the Certificate Account and attributable to the Available Distribution Amount for such Distribution Date exceed the sum of all amounts to be distributed on the Certificates of the related Series on such Distribution Date prior to the distribution to OAC of its Servicing Fee, as described in the related Pooling and Servicing Agreement in the Section thereof entitled "Distributions";
(2) to reimburse the Servicer from any amounts on deposit in the Distribution Account for any Advance previously made which has become a Non-Recoverable Advance, or to reimburse the Servicer for any other Advance out of Related Proceeds on deposit in the Distribution Account, in either case to the extent not previously retained or withdrawn from the Certificate Account by the Servicer;
(3) to reimburse OMI the Company or the Servicer for expenses incurred by or reimbursable to them pursuant to Section 6.05 hereof;
(4) to refund any overpayment of a Repurchase Price for an Asset pursuant to Section 2.06(f) hereof; and
(5) to distribute to the Certificateholders (or, if more than one REMIC election has been made with respect to the Trust, to distribute to the holders of the Regular Interests and the Residual Interest in the Pooling REMIC), the amount of the Available Distribution Amount in accordance with the applicable Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bombardier Capital Mortgage Securitization Corp)
ALLOCATION OF AVAILABLE DISTRIBUTION AMOUNT. On each Distribution Date for a Series, the Trustee shall withdraw all monies on deposit in the related Distribution Account in accordance with the related Remittance Report and shall distribute such amounts in the following order of priority:
(1) if OAC BCI is not the Servicer, to pay the Servicer its monthly Servicing Fee, to the extent not previously retained or withdrawn from the Certificate Account by such Servicer or, if OAC BCI is the Servicer, to pay OAC BCI its monthly Servicing Fee in respect of a Distribution Date, but only to the extent that the amounts on deposit in the Certificate Account and attributable to the Available Distribution Amount for such Distribution Date exceed the sum of all amounts to be distributed on the Certificates of the related Series on such Distribution Date prior to the distribution to OAC BCI of its Servicing Fee, as described in the related Pooling and Servicing Agreement in the Section thereof entitled "Distributions";
(2) to reimburse the Servicer from any amounts on deposit in the Distribution Account for any Advance previously made which has become a Non-Recoverable Advance, or to reimburse the Servicer for any other Advance out of Related Proceeds on deposit in the Distribution Account, in either case to the extent not previously retained or withdrawn from the Certificate Account by the Servicer;
(3) to reimburse OMI or the Servicer for expenses incurred by or reimbursable to them pursuant to Section 6.05 hereof;
(4) to refund any overpayment of a Repurchase Price for an Asset pursuant to Section 2.06(f) hereof; and
(5) to distribute to the Certificateholders (or, if more than one REMIC election has been made with respect to the Trust, to distribute to the holders of the Regular Interests and the Residual Interest in the Pooling REMIC), the Available Distribution Amount in accordance with the applicable Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bombardier Capital Mortgage Securitization Corp)
ALLOCATION OF AVAILABLE DISTRIBUTION AMOUNT. On each Distribution Date for a Series, the Trustee shall withdraw all monies on deposit in the related Distribution Account in accordance with the related Remittance Report and shall distribute such amounts in the following order of priority:
(1) to pay itself its monthly Trustee Fee;
(2) if OAC is not the Servicer, to pay the Servicer its monthly Servicing Fee, to the extent not previously retained or withdrawn from the Certificate Account by such Servicer or, if OAC is the Servicer, to pay OAC its monthly Servicing Fee in respect of a Distribution Date, but only to the extent that the amounts on deposit in the Certificate Account and attributable to the Available Distribution Amount for such Distribution Date exceed the sum of all amounts to be distributed on the Certificates of the related Series on such Distribution Date prior to the distribution to OAC of its Servicing Fee, as described in the related Pooling and Servicing Agreement in the Section thereof entitled "Distributions";
(23) to reimburse the Servicer from any amounts on deposit in the Distribution Account for any Advance previously made which has become a Non-Non- Recoverable Advance, or to reimburse the Servicer for any other Advance out pursuant to the provisions of Related Proceeds on deposit in the Distribution AccountSection 3.04(c), in either case to the extent not previously retained or withdrawn from the Certificate Account by the Servicer;
(34) to reimburse OMI or the Servicer for expenses incurred by or reimbursable to them pursuant to Section 6.05 hereof;
(45) to refund any overpayment of a Repurchase Price for an Asset pursuant to Section 2.06(f) hereof; and
(56) to distribute to the Certificateholders (or, if more than one REMIC election has been made with respect to the Trust, to distribute to the holders of the Regular Interests and the Residual Interest in the Pooling REMIC), the Available Distribution Amount in accordance with the applicable Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc)