Common use of Deposits and Withdrawals from the Back Clause in Contracts

Deposits and Withdrawals from the Back. Up Servicing Fee Account. Deposits into, and withdrawals from, the Back-Up Servicing Fee Account shall, subject to Section 2.7(D), be made in the following manner: (i) On each Payment Date and each other Business Day specified pursuant to Section 2.7(B), the Agent shall deposit into the Back-Up Servicing Fee Account from available Collections (as set forth and in the order of priority established pursuant to Section 2.7(B)), funds in the amount required under Section 2.7(B); and (ii) On each Business Day on which amounts shall be payable to the Back-Up Servicer in respect of the Back-Up Servicing Fee or otherwise pursuant to the Transaction Documents, the Agent shall withdraw funds on deposit in the Back-Up Servicing Fee Account for payment to the Back-Up Servicer.