Common use of Payments from Certificate Accounts Clause in Contracts

Payments from Certificate Accounts. (a) Amounts credited to any Certificate Account on any Distribution Date will be withdrawn pursuant to Subsection 3.06(a) by the Trustee for application towards the distributions required by the Trust Documents. The Trustee may consolidate funds in one or more Certificate Accounts prior to transfer to the applicable Paying Agent. (b) At any time, the Trustee is authorized to withdraw or direct the withdrawal from any Certificate Account for the following purposes (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 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 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; and (iv) to remove amounts that were not required to be deposited pursuant to Subsection 4.01(c). (c) In the event that amounts remain in any Certificate Account in any month following (A) distribution of the related Class Distribution Amount for such month and (B) payment of amounts due pursuant to Subsection 4.03(b), such amounts may be withdrawn by the Trustee and retained by it as compensation for its administrative obligations hereunder but only to the extent such withdrawn amounts are not needed to make payment of the Class Distribution Amount in future periods. Any amount so withdrawn will no longer be a part of any Trust Fund.

Payments from Certificate Accounts. (a) Amounts credited to any Certificate Account on any Distribution Date will be withdrawn pursuant to Subsection 3.06(a4.03(a) by the Trustee for application towards the distributions required by the Trust Documents. The Trustee may consolidate funds in one or more Certificate Accounts prior to transfer to the applicable Paying Agent. (b) At any time, the Trustee is authorized to withdraw or direct the withdrawal from any Certificate Account for the following purposes (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; and (iv) to remove amounts that were not required to be deposited pursuant to Subsection 4.01(c)5.01(c) and any excess Estimated Funding. (c) In the event that amounts remain in any Certificate Account in any month following (A) distribution of the related Class Certificate Distribution Amount for such month and (B) payment of amounts due pursuant to Subsection 4.03(b5.04(b), such amounts may be withdrawn by the Trustee and retained by it as compensation for its administrative obligations hereunder but only to the extent such withdrawn amounts are not needed to make payment of the Class Certificate Distribution Amount in future periods. Any amount so withdrawn will no longer be a part of any Trust Fund.

Payments from Certificate Accounts. (a) Amounts credited to any the Certificate Account on any Distribution Date will shall be withdrawn pursuant to Subsection 3.06(a) by the Trustee Xxxxxx Xxx for application towards first, the Certificate Distribution Amount for such month and second, the distributions required by the Trust Documents. The Trustee may consolidate funds in one or more Certificate Accounts prior to transfer to the applicable Paying Agentauthorized under Section 4.04(b). (b) At any time, the Trustee is authorized to withdraw or direct the withdrawal from any the Certificate Account for the following purposes (in each case, to the extent not previously paid or retained) to the extent funds for such purpose have been deposited to any such the Certificate Account: (i) to 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 the 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 the Certificate Account, if any, for payment of the Trust Administration Fee; (iii) to the Trustee, any Additional Trust Expenses that are then due and payable; and (iv) to remove amounts that were not required to be deposited pursuant to Subsection Section 4.01(c). (c) In the event that amounts remain in any the Certificate Account in any month following (A) distribution of the related Class Certificate Distribution Amount for such month and (B) payment of amounts due pursuant to Subsection 4.03(bSection 4.04(b), such amounts may be withdrawn by the Trustee and retained by it as compensation for its administrative and guaranty obligations hereunder or as reimbursement to Xxxxxx Mae for any advance by it pursuant to such guaranty obligations under Section 4.05 hereof but only to the extent such withdrawn amounts are not needed to make payment of the Class Certificate Distribution Amount in future periods. Any amount so withdrawn will no longer be a part of any the Trust Fund.

Payments from Certificate Accounts. (a) Amounts credited to any Certificate Account on any Distribution Date will be withdrawn pursuant to Subsection 3.06(a4.03(a) by the Trustee for application towards the distributions required by the Trust Documents. The Trustee may consolidate funds in one or more Certificate Accounts prior to transfer to the applicable Paying Agent. (b) At any time, the Trustee is authorized to withdraw or direct the withdrawal from any Certificate Account for the following purposes (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; and (iv) to remove amounts that were not required to be deposited pursuant to Subsection 4.01(c)5.01(c) and any excess Estimated Funding. (c) In the event that amounts remain in any Certificate Account in any month following (A) distribution of the related Class Certificate Distribution Amount for such month and (B) payment of amounts due pursuant to Subsection 4.03(b5.04(b), such amounts may be withdrawn by the Trustee and retained by it as compensation for its administrative obligations hereunder but only to the extent such withdrawn amounts are not needed to make payment of the Class Certificate Distribution Amount in future periods. Any amount so withdrawn will no longer be a part of any Trust Fund; provided, however, that any Interest Reserve Amounts held in the Certificate Account pending distribution shall not be so withdrawn by the Trustee. In the case of each Mortgage Loan for which interest is calculated on an actual/360 basis, the related Interest Reserve Amounts received for each December Interest Accrual Period (other than in a year that immediately precedes a leap year) and January Interest Accrual Period shall be held in the Certificate Account for distribution on the first March Distribution Date that follows such Interest Accrual Period(s). After the Class Balances of the Classes of Regular Certificates have been reduced to zero, any related Interest Reserve Amounts remaining in the Certificate Account shall be distributed to the related Holders in the immediately following calendar month.