Certificate Account; Distributions. (a) The Trustee shall establish and maintain a Certificate Account, in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 3:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Sections 3.11, 3.13, 3.23 or 4.03(b) and (iii) all other amounts constituting or, if not otherwise applicable to the payment of the Trustee's Fee, that would constitute the Available Distribution Amount for the immediately succeeding Distribution Date. The Trustee shall transfer from the Certificate Account to itself, the Trustee's Fee on each Certificate Account Deposit Date. Such amounts do not constitute part of the Available Distribution Amount.
Certificate Account; Distributions. On or before the issuance of the Certificates, Xxxxxx Xxx shall either (i) open with an Eligible Depository one or more trust accounts in the name of the Trustee of the Trust that shall collectively be the “Certificate Account”, (ii) in lieu of maintaining any such account or accounts, maintain the Certificate Account by means of appropriate entries on its books and records designating all amounts credited thereto in respect of the Mortgage Loans and all investments of any such amounts as being held by it in its capacity as Trustee for the benefit of the Holders of the Certificates or (iii) maintain the Certificate Account in the form of any combination of accounts or book entries described in clauses (i) and (ii) above. Any manner or manners in which the Certificate Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii)) without notice to, or the approval of, Holders of the Certificates so long as funds held in the Trust by, or for the account of, the Trustee shall at all times be identified. To the extent that the Certificate Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Certificate Account shall be deemed to refer to credits and debits to the related books of the Trustee. Xxxxxx Xxx shall deposit in the Certificate Account all Mortgage Loan proceeds received by it as Trustee hereunder and under the Agreement or any other servicing contract or arrangement. All proceeds deposited from time to time in the Certificate Account, all investments made with such moneys, including all income or other gain from such investments, shall be held by the Trustee in the Certificate Account as part of the Trust as herein provided, subject to withdrawal by Xxxxxx Mae for the purposes set forth in Section 4.07.
Certificate Account; Distributions. (a) The Trustee shall establish and maintain a Certificate Account, in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 2:00 P.M. Los Angeles time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Sections 3.13, 3.22 or 3.23 and (iii) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date.
Certificate Account; Distributions. SECTION 4.02.
Certificate Account; Distributions. 61 SECTION 4.02. Statements to Certificateholders..............................64
Certificate Account; Distributions. 57- 4.02. Statements to Certificateholders...............................-63- 4.03. Remittance Reports; Advances by the Master Servicer............-65- 4.04. Allocation of Realized Losses..................................-67- 4.05. Information Reports to be Filed by the Master Servicer.........-68- 4.06. Compliance with Withholding Requirements.......................-68- ARTICLE V THE CERTIFICATES
Certificate Account; Distributions. (a) The Servicer shall cause to be deposited on behalf of the Trustee in the Certificate Account on or before 1:00 P.M. New York time on each Remittance Date by wire transfer of immediately available funds an amount, without duplication, equal to the sum of (i) any Monthly Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Sections 3.06 or 3.25 and (iii) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. With respect to any payment received by the Trustee after the Remittance Date on which such payment was due, the Servicer shall pay to the Trust Fund interest on any such late payment at an annual rate equal to the prime rate, adjusted as of the date of each change, plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in the Custodial Account by the Servicer on the date such late payment is made and shall cover the period commencing with the day following such Remittance Date and ending with the Business Day on which such payment is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding related Remittance Date. The payment by the Servicer of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default by the Servicer.
Certificate Account; Distributions. 56 4.02. Statements to Certificateholders....................... 58 4.03. Remittance Reports; Advances by the Master Servicer........................................ 65 4.04. Allocation of Realized Losses.......................... 67 4.05. Information Reports to be Filed by the Master Servicer........................................ 69 4.06. Compliance with Withholding Requirements........................................... 70 ARTICLE V THE CERTIFICATES 5.01. The Certificates....................................... 70 5.02. Registration of Transfer and Exchange of Certificates........................................... 71 5.03. Mutilated, Destroyed, Lost or Stolen Certificates........................................... 73 5.04. Persons Deemed Owners.................................. 77
Certificate Account; Distributions. (a) The Trustee shall establish and maintain a Certificate Account, in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 5:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Sections 3.13 or 3.23, and (iii) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date. In addition, as and to the extent required pursuant to Section 4.08(b), the Trustee shall withdraw from the Insurance Account and deposit into the Certificate Account the amount necessary to pay the Insured Amount on each Distribution Date to the extent received from the Insurer. Any such amounts shall be distributed on the immediately following Distribution Date as part of the Available Distribution Amount. In addition, as and to the extent required pursuant to Section 4.07(b), the Trustee shall withdraw from the Reserve Fund and deposit into the Certificate Account any amounts required to be distributed to the Certificateholders on the immediately succeeding Distribution Date.
Certificate Account; Distributions. (a) The Trustee shall establish and maintain a Certificate Account, in which the Master Servicer shall cause to be deposited on behalf of the Trustee on or before 5:00 P.M. New York time on each Certificate Account Deposit Date by wire transfer of immediately available funds an amount equal to the sum of (i) any Advance for the immediately succeeding Distribution Date, (ii) any amount required to be deposited in the Certificate Account pursuant to Sections 3.11, 3.13, 3.22 or 3.23, (iii) all other amounts constituting the Available Distribution Amount for the immediately succeeding Distribution Date and (iv) the amount of the Certificate Insurer Premium and the Trustee's Fee for such Distribution Date. In addition, as and to the extent required pursuant to Section 4.07(b), the Trustee shall withdraw from the Insurance Account and deposit into the Certificate Account the amount necessary to make the Insured Payment on each Distribution Date to the extent received from the Certificate Insurer.
