Application of Funds in the Collection Account. The Master Servicer may, from time to time, make, or cause to be made, withdrawals from the Collection Account for the following purposes:
Application of Funds in the Collection Account. The Trust Administrator may, from time to time, make, or cause to be made, withdrawals from the Collection Account for the following purposes:
Application of Funds in the Collection Account. The Master Servicer shall withdraw funds from the Collection Account for payments to the Note Payment Account pursuant to Section 6.01. In addition, the Master Servicer may prior to making the payment pursuant to Section 6.01 from time to time make withdrawals from the Collection Account for the following purposes:
Application of Funds in the Collection Account. (a) Monthly, on each Master Servicer Remittance Date, the Master Servicer shall withdraw from the Collection Account and deliver to the Trustee for deposit in the Distribution Account all amounts then on deposit in the Collection Account that represent payments and other collections on or in respect of the Mortgage Loans and any REO Properties that were received by the Master Servicer or the Special Servicer through the end of the related Collection Period, exclusive of any such payments and other collections that: (i) constitute Monthly Payments due on a Due Date following the end of the related Collection Period; (ii) are payable or reimbursable to any Person from the Collection Account pursuant to clauses (i) through (xvi), inclusive, of Section 5.2(b); and/or (iii) were deposited in the Collection Account in error. The Trustee shall notify the Master Servicer (in a manner consistent with the last sentence of Section 4.1(a)) if any such remittance is not received by 3:00 p.m., New York City time, on any Master Servicer Remittance Date. In addition, on each P&I Advance Date, the Master Servicer is authorized (or, to the extent provided in Section 4.1, required) to apply certain amounts held in the Collection Account for future distribution to Certificateholders in subsequent months and certain Late Collections, all as more particularly specified in Section 4.1, to make required P&I Advances on such date.
Application of Funds in the Collection Account. Funds in the Collection Account shall be allocated on each Payment Date in accordance with Section 5.01.
Application of Funds in the Collection Account. (a) Monthly, on each Master Servicer Remittance Date, the Master Servicer shall withdraw from the Collection Account and deliver to the Trustee for deposit in the Distribution Account all amounts then on deposit in the Collection Account that represent payments and other collections on or in respect of the Mortgage Loans and any REO Properties that were received by the Master Servicer or the Special Servicer through the end of the related Collection Period, exclusive of any such payments and other collections that: (i) constitute Monthly Payments due on a Due Date following the end of the related Collection Period; (ii) are payable or reimbursable to any Person from the Collection Account pursuant to clauses (i) through (xvi), inclusive, of Section 5.2(b); and/or (iii) were deposited in the Collection Account in error. The Trustee shall notify the Master Servicer (in a manner consistent with the last sentence of Section 4.1(a)) if any such remittance is not received by 3:00 p.m., New York City time, on any Master Servicer Remittance Date. If the Master Servicer does not deposit such amounts into the Distribution Account by 3:00 p.m., New York City time on the Master Servicer Remittance Date, then the Master Servicer will pay interest to the Trustee on such late payment at the prime rate from the Master Servicer Remittance Date to the date (and not including) that such payment is received by the Trustee. In addition, on each P&I Advance Date, the Master Servicer is authorized (or, to the extent provided in Section 4.1, required) to apply certain amounts held in the Collection Account for future distribution to Certificateholders in subsequent months and certain Late Collections, all as more particularly specified in Section 4.1, to make required P&I Advances on such date.
Application of Funds in the Collection Account. Funds in the Collection Account shall be allocated to the Reserve Accounts in accordance with Section 5.01(a) of this Base Indenture and Section 3.03 of the Cash Management Agreement; provided that amounts on deposit in the Collection Account on any Payment Date which were received in the preceding Collection Period but are attributable to amounts due from a Customer in a succeeding Collection Period shall remain in the Collection Account and not be deemed to be available for distribution until the Payment Date following the Collection Period in which such amounts were due from such Customer. The amount available on each Payment Date to be so distributed is referred to as the “Available Funds” with respect to such Payment Date.
Application of Funds in the Collection Account. The [Master] Servicer may, from time to time, make, or cause to be made, withdrawals from the Collection Account for the following purposes:
Application of Funds in the Collection Account. The Securities Administrator may, from time to time, make, or cause to be made, withdrawals from the Collection Account for the following purposes:
Application of Funds in the Collection Account. (a) Monthly, on each Master Servicer Remittance Date, the Master Servicer shall withdraw from the Collection Account and deliver to the Trustee for deposit in the Distribution Account all amounts then on deposit in the Collection Account that represent payments and other collections on or in respect of the Mortgage Loans and any REO Properties that were received by the Master Servicer or the Special Servicer through the end of the related Collection Period, exclusive of any such payments and other collections that: (i) constitute Monthly Payments due on a Due Date following the end of the related Collection Period; (ii) are payable or reimbursable to any Person from the Collection Account pursuant to clauses (i) through (xvi), inclusive, of Section 5.2(b); and/or (iii) were deposited in the Collection Account in error. The Trustee shall notify the Master Servicer (in a manner consistent with the last sentence of Section 4.1(a)) if any such remittance is not received by 3:00 p.m., New York City time, on any Master Servicer Remittance Date. In addition, on each P&I Advance Date, the Master Servicer is authorized to apply certain amounts held in the Collection Account for future distribution to Certificateholders in subsequent months, all as more particularly specified in Section 4.1, to make required P&I Advances on such date.
