Common use of DISTRIBUTION ACCOUNT; DISTRIBUTION OF REMITTANCE AMOUNT Clause in Contracts

DISTRIBUTION ACCOUNT; DISTRIBUTION OF REMITTANCE AMOUNT. (a) The Trustee shall establish and maintain a Distribution Account for the benefit of the Certificateholders. The Distribution Account shall be an Eligible Account and shall be either held in the Trustee's name or designated in a manner that reflects the custodial nature of the account and that all funds in such account are held in trust for the benefit of the Trustee. The Trustee shall deposit into the Distribution Account amounts remaining after all other distributions have been made in accordance with Section 4.02(b)(1) though (4) below. (b) The Trustee shall, in accordance with the related Remittance Report, distribute from the Certificate Account the Remittance Amount in the following order of priority: (1) if BCI is not the Servicer 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Fee Event has occurred, to pay the Servicer its monthly Servicing Fee, to the extent not previously retained or withdrawn from the Certificate Account by such Servicer or, if BCI is the Servicer and a Servicing Fee Event is not in effect, to pay BCI its monthly Servicing Fee in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 Remittance 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 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out of Related Proceeds on deposit in the Distribution Account, in either case to the extent not previously retained or withdrawn from the Certificate Account by the Servicer; (3) to reimburse the Company or the Servicer for expenses incurred by or reimbursable to them pursuant to Section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) for deposit into the Distribution Account. The Servicer shall keep and maintain separate accounting, on an Asset-by-Asset basis, for the purpose of justifying any payment to and from the Distribution Account.