Common use of Disbursements From Collection Account Clause in Contracts

Disbursements From Collection Account. On each Payment Date, the Indenture Trustee shall make the following disbursements by wire transfer from amounts then on deposit in the Collection Account: (a) To the extent that such fees and expenses have not been paid by the Servicer pursuant to Section 7.08 of this Agreement, to the Indenture Trustee, the Indenture Trustee Fee or any portion thereof outstanding and any reimbursable amounts owed the Indenture Trustee under Section 6.16 of the Indenture if any such amounts remain unpaid for 60 or more days and to the Collateral Agent, the Collateral Agent Fee and any reimbursable amounts owed the Collateral Agent under Section 11.05 of this Agreement if any such amounts remain unpaid for 60 or more days, and provided, that, if, after any remittance of funds pursuant to this Section 8.06(a), all or any portion of the amount so paid is subsequently recovered, the Indenture Trustee shall cause the amount so recovered to be deposited into the Collection Account. (b) Based solely on the information supplied by the Servicer, the Indenture Trustee shall make the following withdrawals from available funds in the Collection Account: (i) to withdraw any amount not required to be deposited in the Collection Account or deposited therein in error; (ii) to distribute the Servicer its Servicing Fee on an as-collected basis with respect to each Mortgage Loan; and (iii) to clear and terminate the Collection Account in connection with the termination of this Agreement.

Disbursements From Collection Account. On each Payment Date, the Indenture Trustee shall make the following disbursements by wire transfer from amounts then on deposit in the Collection Account: (a) To the extent that such fees and expenses have not been paid made by the Servicer pursuant to Section 7.08 of this Agreement, to the Indenture Trustee, the Indenture Trustee Fee or any portion thereof outstanding and any reimbursable amounts owed the Indenture Trustee under Section 6.16 of the Indenture if any such amounts remain unpaid for 60 or more days and to the Collateral Agent, the Collateral Agent Fee and any reimbursable amounts owed the Collateral Agent under Section 11.05 of this Agreement if any such amounts remain unpaid for 60 or more daysdays ; provided, however, that the Indenture Trustee shall not remit or caused to be remitted pursuant to this Section 8.06(a) in excess of $22,200 per year during the term of this Agreement; and provided, further that, if, after any remittance of funds pursuant to this Section 8.06(a), all or any portion of the amount so paid is subsequently recovered, the Indenture Trustee shall cause the amount so recovered to be deposited into the Collection Account. (b) Based solely on the information supplied by the Servicer, the Indenture Trustee shall make the following withdrawals from available funds in the Collection Account: (i) to withdraw any amount not required to be deposited in the Collection Account or deposited therein in error; , (ii) to distribute pay the Servicer its Servicing Fee on an as-collected basis with respect to each Mortgage Loan; and (iii) to clear and terminate the Collection Account in connection with the termination of this Agreement.

Disbursements From Collection Account. On each Payment Date, the Indenture Trustee shall make the following disbursements by wire transfer from amounts then on deposit in the Collection Account: (a) To the extent that such fees and expenses have not been paid by the Servicer pursuant to Section 7.08 of this Agreement, to the Indenture Trustee, the Indenture Trustee Fee or any portion thereof outstanding and any reimbursable amounts owed the Indenture Trustee under Section 6.16 of the Indenture if any such amounts remain unpaid for 60 or more days and to the Collateral Agent, the Collateral Agent Fee and any reimbursable amounts owed the Collateral Agent under Section 11.05 of this Agreement if any such amounts remain unpaid for 60 or more daysdays ; provided, however, that the Indenture Trustee shall not remit or caused to be remitted pursuant to this Section 8.06(a) in excess of $22,200 per year during the term of this Agreement; and provided, further that, if, after any remittance of funds pursuant to this Section 8.06(a), all or any portion of the amount so paid is subsequently recovered, the Indenture Trustee shall cause the amount so recovered to be deposited into the Collection Account. (b) Based solely on the information supplied by the Servicer, the Indenture Trustee shall make the following withdrawals from available funds in the Collection Account: (i) to withdraw any amount not required to be deposited in the Collection Account or deposited therein in error; , (ii) to distribute pay the Servicer its Servicing Fee on an as-collected basis with respect to each Mortgage Loan; and (iii) to clear and terminate the Collection Account in connection with the termination of this Agreement.