Common use of Draws During Rapid Amortization Period Clause in Contracts

Draws During Rapid Amortization Period. During the Rapid Amortization Period, any Draws made on the Mortgage Loans (each, an "Excluded Amount") shall not be Additional Balances, and the ownership of the related balances shall be retained by GMACM. On any Payment Date during the Rapid Amortization Period, with respect to the related Collection Period, all Collections in respect of each Mortgage Loan shall be allocated pro rata as between the Issuer and GMACM, based on the relative proportions of the Principal Balance and the Excluded Amount thereof, respectively, as of the end of the calendar month immediately prior to such Collection Period. During the Rapid Amortization Period, any losses incurred with respect to a Mortgage Loan shall be allocated pro rata between the Issuer and GMACM, based on the Principal Balance and the Excluded Amount thereof, respectively, as of the date of liquidation of such Mortgage Loan. Notwithstanding any other provision hereof or of the Servicing Agreement, payments and collections allocable to an Excluded Amount shall not be deposited into the Custodial Account, the Distribution Account or the Note Payment Account, and shall be distributed by the Servicer to GMACM no less frequently than monthly in accordance with reasonable instructions provided by the Seller.

Draws During Rapid Amortization Period. During the Rapid Amortization Period, any Draws made on the Mortgage Loans HELOCs (each, an "Excluded Amount") shall not be Additional Balances, and the ownership of the related balances shall be retained by GMACMthe Seller. On any Payment Date during the Rapid Amortization Period, with respect to the related Collection Period, all Collections in respect of each Mortgage Loan HELOC shall be allocated pro rata as between the Issuer and GMACMthe Seller, based on the relative proportions of the Principal Balance and the Excluded Amount thereof, respectively, as of the end of the calendar month immediately prior to such Collection Period. During the Rapid Amortization Period, any losses incurred with respect to a Mortgage Loan HELOC shall be allocated pro rata between the Issuer and GMACMthe Seller, based on the Principal Balance and the Excluded Amount thereof, respectively, as of the date of liquidation of such Mortgage LoanHELOC. Notwithstanding any other provision hereof or of the Servicing Agreement, payments and collections allocable to an Excluded Amount shall not be deposited into the Custodial Account, the Distribution Account or the Note Payment Account, and shall be distributed by the Servicer to GMACM the Seller no less frequently than monthly in accordance with reasonable instructions provided by the Seller.

Draws During Rapid Amortization Period. During the Rapid Amortization Period, any Draws made on the Mortgage Loans (each, an "Excluded Amount") shall not be Additional Balances, and the ownership of the related balances shall be retained by GMACM[ ]. On any Payment Date during the Rapid Amortization Period, with respect to the related Collection Period, all Collections in respect of each Mortgage Loan shall be allocated pro rata as between the Issuer and GMACM[ ], based on the relative proportions of the Principal Balance and the Excluded Amount thereof, respectively, as of the end of the calendar month immediately prior to such Collection Period. During the Rapid Amortization Period, any losses incurred with respect to a Mortgage Loan shall be allocated pro rata between the Issuer and GMACM[ ], based on the Principal Balance and the Excluded Amount thereof, respectively, as of the date of liquidation of such Mortgage Loan. Notwithstanding any other provision hereof or of the Servicing Agreement, payments and collections allocable to an Excluded Amount shall not be deposited into the Custodial Account, the Distribution Account or the Note Payment Account, and shall be distributed by the Servicer to GMACM [ ] no less frequently than monthly in accordance with reasonable instructions provided by the Seller.

Draws During Rapid Amortization Period. During the Rapid Amortization Period, any Draws made on the Mortgage Loans HELOCs (each, an "Excluded Amount") shall not be Additional Balances, and the ownership of the related balances shall be retained by GMACM. On any Payment Date during the Rapid Amortization Period, with respect to the related Collection Period, all Collections in respect of each Mortgage Loan HELOC shall be allocated pro rata as between the Issuer and GMACM, based on the relative proportions of the Principal Balance and the Excluded Amount thereof, respectively, as of the end of the calendar month immediately prior to such Collection Period. During the Rapid Amortization Period, any losses incurred with respect to a Mortgage Loan HELOC shall be allocated pro rata between the Issuer and GMACM, based on the Principal Balance and the Excluded Amount thereof, respectively, as of the date of liquidation of such Mortgage LoanHELOC. Notwithstanding any other provision hereof or of the Servicing Agreement, payments and collections allocable to an Excluded Amount shall not be deposited into the Custodial Account, the Distribution Account or the Note Payment Account, and shall be distributed by the Servicer to GMACM no less frequently than monthly in accordance with reasonable instructions provided by the Seller.

Draws During Rapid Amortization Period. During the Rapid Amortization Period, any Draws made on the Mortgage Loans (each, an "“Excluded Amount"”) shall not be Additional Balances, and the ownership of the related balances shall be retained by GMACM. On any Payment Date during the Rapid Amortization Period, with respect to the related Collection Period, all Collections in respect of each Mortgage Loan shall be allocated pro rata as between the Issuer and GMACM, based on the relative proportions of the Principal Balance and the Excluded Amount thereof, respectively, as of the end of the calendar month immediately prior to such Collection Period. During the Rapid Amortization Period, any losses incurred with respect to a Mortgage Loan shall be allocated pro rata between the Issuer and GMACM, based on the Principal Balance and the Excluded Amount thereof, respectively, as of the date of liquidation of such Mortgage Loan. Notwithstanding any other provision hereof or of the Servicing Agreement, payments and collections allocable to an Excluded Amount shall not be deposited into the Custodial Account, the Distribution Account or the Note Payment Account, and shall be distributed by the Servicer to GMACM no less frequently than monthly in accordance with reasonable instructions provided by the Seller.