Common use of Other Payments from Certificate Accounts Clause in Contracts

Other Payments from Certificate Accounts. At any time, the Trustee is authorized to withdraw or direct the withdrawal from any Certificate Account, and pay the following (in each case, to the extent not previously paid or retained) to the extent funds for such purpose have been deposited to any such Certificate Account: (i) to the Guarantor, amounts to reimburse the Guarantor for funding or payments made by it with respect to amounts that are subsequently recovered by the Trust and transferred to a Certificate Account but are not required for payment to Holders; (ii) to the Trustee, to the extent of interest earnings and other investment earnings on the funds held in any Certificate Account, for payment of the Trust Administration Fee; (iii) to the Trustee, any Additional Trust Expenses that are then due and payable; (iv) to remove amounts that were not required to be deposited pursuant to Section 5.01(c) and any excess Estimated Funding; and (v) after all other distributions have been made on the Final Distribution Date for a Trust, to the extent of any remaining amounts in any Certificate Account attributable to that Trust, to the Guarantor.

Appears in 10 contracts

Samples: Single Family Mega/Supers Master Trust Agreement, SMBS Master Trust Agreement, Single Family Mega/Supers Master Trust Agreement

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