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Common use of Permitted Withdrawals and Transfers from the Distribution Account Clause in Contracts

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company or the related Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company or a Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06); (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.06. (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively rely.

Appears in 12 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC 2004-Ac3), Pooling and Servicing Agreement (Asset-Backed Certificates Series 2003-Ac5)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee willSecurities Administrator shall, from time to time on demand of the Master Servicer time, withdraw or the Securities Administrator, make or cause to be made such withdrawals or transfers transfer funds from the Distribution Account as to a Servicer, to the Master Servicer has designated for such transfer Servicer, to the Trustee or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder itself for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance advance, respectively, of its own funds or of such Servicer’s own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause receive under subclause (x) of this Subsection (a4.03(a) to as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under subclause (x) of this Subsection 4.03(a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for servicing related advances of funds pursuant to this Agreement or the related Servicing Agreementfunds, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such servicing advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in its monthly Master Servicing Fee and any other servicing compensation payable pursuant to Section 4.143.14; (ix) to pay the Master Servicer any investment income; (x) to reimburse the Master Servicer for expenses, costs and liabilities incurred any expenses recoverable by and reimbursable to it pursuant to Sections 4.03, 8.04(c) 3.03 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer3.27; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian or Trustee and the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement Sections 3.27, 8.05 or 8.10 (including those related to the extent not reimbursed from fees and expenses of the Master Servicer Collection Account in accordance with Section 5.06Custodian); (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement payments or reimbursements from the Distribution Account pursuant to subclauses (i) through (vivii), inclusive, inclusive and subclause (viiix) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee Securities Administrator, as Paying Agent, shall distribute the Available Funds to the extent of withdraw funds on deposit in the Distribution Account to the holders extent of the aggregate Available Funds and distribute such funds to the Holders of the Certificates and any other parties entitled thereto, in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.01.

Appears in 10 contracts

Samples: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc), Pooling and Servicing Agreement (Harbor View Mortgage Loan Trust 2005-14), Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2004-10)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer or the Securities AdministratorServicer, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement or as the Securities Administrator has instructed hereunder Agreements for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith as a Servicing Advance in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03 (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant to this Agreement or the related Servicing AgreementSections, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to this Agreement, including but not limited to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Trustee or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.019.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds for each Loan Group to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 9 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-A1), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2006-A1), Pooling and Servicing Agreement (Merrill Lynch Investors Trust, Series 2006-A2)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xviii) of this Subsection 4.05 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (viiv) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (viiv); (viiivi) to pay the Master Servicer as set forth in Section 4.143.14; (ixvii) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c3.03 and 7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (xviii) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiix) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiix) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiiixi) to remove amounts deposited in error; and (xivxii) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viiiiv) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account for each Loan Group to the holders Holders of the Certificates in accordance with distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Arm Trust, Mortgage Pass-Through Certificates, Series 2004-7), Pooling and Servicing Agreement (Bear Stearns Arm Trust, Mortgage Pass-Through Certificates, Series 2004-6), Pooling and Servicing Agreement (Bear Stearns Arm Trust, Mortgage Pass-Through Certificates, Series 2004-3)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee willSecurities Administrator shall, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement or as the Securities Administrator has instructed hereunder Agreements for the following purposes (limited purposes, not in the case any order of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):priority: (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Loan, the amount which it or such Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that receive under subclause (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xvii) of this Subsection (a) to as servicing compensation on account of each defaulted scheduled payment on such Loan if paid in a timely manner by the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Loan, the amount which it or such Servicer would have been entitled to receive under subclause (vii) of this Subsection (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company or a any Servicer for any Advance or advanceNonrecoverable Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses clause (i) and (vi); (viiivii) to pay the Master Servicing Compensation to the Master Servicer, the Servicing Fee to the Servicers (to the extent such Servicing Fee was not retained by a Servicer as set forth in Section 4.14; (ix) pursuant to the related Servicing Agreement), the Credit Risk Management Fee to the Credit Risk Manager for such Distribution Date and to reimburse the Master Servicer for premiums payable in connection with any lender paid mortgage insurance and for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.3, 8.04(c) 6.3, 8.5 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement;10.1. (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiviii) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiiix) to reimburse the Trustee, the Custodian or Custodians and the Securities Administrator for expenses, costs and liabilities liabilities, if any, incurred by or reimbursable to it such parties pursuant to this Agreement (to and the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreements; (xiiix) to remove amounts deposited in error; and (xivxi) to clear and terminate the Distribution Account pursuant to Section 11.019.1. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (viv), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.063.23(b). (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds Distribution Amount to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 4.1.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities Inc), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Af1), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar3)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (viiv) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (viiv); (viiivi) to pay the Master Servicer as set forth in Section 4.143.14; (ixvii) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (xviii) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiix) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiix) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiiixi) to remove amounts deposited in error; and (xivxii) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viiiiv) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account for each Loan Group to the holders Holders of the Certificates in accordance with distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Arm Tr 2004 1), Pooling and Servicing Agreement (Bear Stearns Arm Trust Mort Pass THR Certs Ser 2003-6), Pooling and Servicing Agreement (Mortgage Pass-Through Certificates Series 2003-9)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities AdministratorServicer, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder Trustee deems necessary for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Custodial Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company itself or the related Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Trustee or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting with respect to which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (aSection 4.04(a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Servicer, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which the Servicer would have been entitled to receive under clause (ix) of this Section 4.04(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Servicer from the Repurchase Price for any Mortgage Loan, the amount which the Servicer would have been entitled to receive under clause (ix) of this Section 4.04(a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company or a Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause clause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, Trustee or the Company or a Servicer for any Nonrecoverable Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance that has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related ServicerProceeds; (xi) to reimburse or pay the Company Trustee or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement Agreement; (xii) to pay itself the extent not reimbursed from the Master Servicer Collection Account Trustee Fee set forth in accordance with Section 5.06)9.05; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basisbasis and shall provide a copy to the Trustee, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses clauses (i) through (vi), inclusive, ) and (viiivii) or with respect to any such amounts which would have been covered by such subclauses clauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.01(b). Reimbursements made pursuant to clauses (vii), (ix) and (xi) will be allocated between the Loan Groups pro rata based on the aggregate Stated Principal Balances of the Mortgage Loans in each Loan Group. (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the related Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2007-Ar1), Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2006-Ar5), Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2006-Ar3)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Master Servicer will, from time to time on demand of the Master Servicer or a Servicer, the Securities Administrator, or for its own account as set forth below, make or cause to be made such withdrawals or transfers from the Distribution Account Account, in the case of a demand by a Servicer, as the Master applicable Servicer has designated for such transfer or withdrawal pursuant to this Agreement the applicable Servicing Agreement, or any Servicing Agreement or in the case of a demand by the Securities Administrator as the Securities Administrator has instructed hereunder demanded pursuant hereto, or as the Master Servicer has determined to be appropriate in accordance herewith, for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own funds or of such Servicer’s own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that receive under subclause (iviii) any amounts with respect to of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan were if paid as Excess Liquidation Proceeds pursuant in a timely manner by the related Mortgagor; (v) to clause pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (xviii) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for servicing related advances of funds pursuant to this Agreement or the related Servicing Agreementfunds, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such servicing advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in its monthly Master Servicing Fee and any investment income and other additional servicing compensation payable pursuant to Section 4.143.14; (ix) to reimburse the Master Servicer or the Securities Administrator for expenses, costs and liabilities incurred any expenses recoverable by and reimbursable to it the Master Servicer or the Securities Administrator pursuant to Sections 4.03, 8.04(c) 3.03 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement3.31; (x) to pay to the Master Xxxxxxxxx, as a Servicer, as additional servicing compensationany Prepayment Penalty Amounts and any earnings payable pursuant to Section 4.02(c), any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) and to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiixi) to reimburse the Trustee, the Custodian or Delaware Trustee and the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it from funds of the Trust pursuant to this Agreement Sections 3.30, 3.31 or 8.05 (including those related to the Custodian, to the extent not paid by Xxxxxxxxx), and to reimburse the Trustee for any fees, costs and expenses costs incurred by or reimbursable to it pursuant to Section 2.03(a), 7.01(b), 8.02, 8.05 or 8.07, to the extent not otherwise reimbursed from to it; (xii) to make distributions of Retained Interest to the Master Servicer Collection Retained Interest Holder on each Distribution Date; (xiii) to pay to Xxxxxxxxx (in its capacity as a Servicer) all investment earnings on amounts on deposit in the Distribution Account in accordance with to which it is entitled under Section 5.064.02(c); (xiiixiv) to remove amounts deposited in error; and (xivxv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) In addition, on or before the Business Day immediately preceding each Distribution Date, the Master Servicer shall deposit in the Distribution Account (or remit to the Securities Administrator for deposit therein) any Advances or Compensating Interest Payments, to the extent required but not made by the related Servicer and required to be made by the Master Servicer with respect to the Mortgage Loans. (c) The Securities Administrator or the Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement payments or reimbursements from the Distribution Account pursuant to subclauses (i) through (vivii), inclusive, (ix) and (viiix) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (cd) In order to comply with its duties under the USA PATRIOT Act of 2001, the Securities Administrator shall obtain and verify certain information and documentation from the other parties hereto, including, but not limited to, each such party's name, address and other identifying information. (e) On each Distribution Date, the Trustee Securities Administrator shall distribute the aggregate Available Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.01.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2006-1), Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2006-6), Pooling and Servicing Agreement (Zuni 2006-Oa1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Paying Agent will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xviii) of this Subsection 4.05 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (viiv) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (viiv); (viiivi) to pay the Master Servicer as set forth in Section 4.143.14; (ixvii) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c3.03 and 7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (xviii) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiix) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiix) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiiixi) to remove amounts deposited in error; and (xivxii) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viiiiv) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee Paying Agent shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account for each Loan Group to the holders Holders of the Certificates in accordance with distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Arm Trust, Mortgage Pass-Through Certificates, Series 2005-6), Pooling and Servicing Agreement (Bear Stearns Arm Trust, Mortgage Pass-Through Certificates, Series 2005-11), Pooling and Servicing Agreement (Bear Stearns Arm Trust 2005-12)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer or the Securities Administratortime, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer Securities Administrator has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):Agreements: (i1) to reimburse the Master Servicer, the Company Servicer or the related Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Monthly Advance was made; (ii2) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii3) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (a3.20(a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi4) to reimburse the Master Servicer, Servicer or the Company or a Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii5) to reimburse the Master Servicer, Servicer or the Company or a Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i1) and (vi4); (viii6) to pay the Master Servicer as set forth in Section 4.143.14; (ix7) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) 3.03 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement6.03; (x) 8) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi9) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii10) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii11) to remove amounts deposited in error; and (xiv12) to clear and terminate the Distribution Account pursuant to Section 11.019.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i1) through (vi), inclusive, and (viii4) immediately above or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.06Servicer. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds to the extent of funds amounts on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relypursuant to Section 4.01.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2006-1), Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2005-2), Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2006-5)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee willSecurities Administrator shall, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement or as the Securities Administrator has instructed hereunder Agreements for the following purposes (limited purposes, not in the case any order of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):priority: (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Loan, the amount which the Master Servicer or such Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that receive under subclause (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xvii) of this Subsection (a) to as servicing compensation on account of each defaulted scheduled payment on such Loan if paid in a timely manner by the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under subclause (vii) of this Subsection (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company or a any Servicer for any Advance or advanceNonrecoverable Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses clause (i) and (vi); (viiivii) to pay the Master Servicing Compensation to the Master Servicer, the Servicing Fee to the Servicers (to the extent such Servicing Fee was not retained by a Servicer as set forth in Section 4.14; (ix) pursuant to the related Servicing Agreement), the Credit Risk Management Fee to the Credit Risk Manager for such Distribution Date and to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.3, 8.04(c) 6.3, 8.5 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement;10.1. (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiviii) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related such Servicer, to the extent provided herein and in the related Servicing Agreement; (xiiix) to reimburse the Trustee, the Custodian or Custodians and the Securities Administrator for expenses, costs and liabilities liabilities, if any, incurred by or reimbursable to it such parties pursuant to this Agreement (to or the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreements; (xiiix) to remove amounts deposited in error; and (xivxi) to clear and terminate the Distribution Account pursuant to Section 11.019.1. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.063.23(b). (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the related Available Funds Distribution Amount to the extent of funds on deposit in the Distribution Account to the holders Holders of the related Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 4.1.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Deutsche Mortgage Securities Inc), Pooling and Servicing Agreement (Deutsche Alt-a Securities Inc), Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2005-6)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee willSecurities Administrator shall, from time to time on demand of the Master Servicer time, withdraw or the Securities Administrator, make or cause to be made such withdrawals or transfers transfer funds from the Distribution Account as to the Servicer, to the Master Servicer has designated for such transfer Servicer, to the Trustee or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder itself for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to reimburse the Master Servicer, the Company Servicer or the related Servicer for any Advance or Servicing Advance advance, respectively, of its own funds or of the Servicer’s own funds, the right of the Master Servicer, the Company Servicer or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or the Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or the Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause receive under subclause (x) of this Subsection (a4.03(a) to as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]related Mortgagor; (v) [reserved]to pay the Master Servicer or the Servicer from the Purchase Price for any Mortgage Loan, the amount which the Master Servicer or the Servicer would have been entitled to receive under subclause (x) of this Subsection 4.03(a) as servicing compensation; (vi) to reimburse the Master Servicer, Servicer or the Company or a Servicer for servicing related advances of funds pursuant to this Agreement or the related Servicing Agreementfunds, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such servicing advances were made; (vii) to reimburse the Master Servicer, Servicer or the Company or a Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in its monthly Master Servicing Fee and any other servicing compensation payable pursuant to Section 4.143.18; (ix) to pay the Master Servicer any investment income; (x) to reimburse the Master Servicer for expenses, costs and liabilities incurred any expenses recoverable by and reimbursable to it pursuant to Sections 4.03, 8.04(c) 3.09 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer3.22; (xi) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian or Trustee and the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement Sections 3.22, 8.05 or 8.10 (including those related to the extent not reimbursed from fees and expenses of the Master Servicer Collection Account in accordance with Section 5.06Custodian); (xiii) to remove amounts deposited in error; (xiv) [reserved]; and (xivxv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement payments or reimbursements from the Distribution Account pursuant to subclauses (i) through (vivii), inclusive, inclusive and subclause (viiix) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee Securities Administrator, as Paying Agent, shall distribute the Available Funds to the extent of withdraw funds on deposit in the Distribution Account to the holders extent of the aggregate Available Funds and distribute such funds to the Holders of the Certificates and any other parties entitled thereto, in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.01.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (DSLA Mortgage Loan Trust 2004-Ar4), Pooling and Servicing Agreement (DSLA Mortgage Loan Trust 2004-Ar3), Pooling and Servicing Agreement (Greenwich Dsla Mortgage Loan Trust 2005-Ar1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that , and in the Trustee shall case of amounts due the EMC Servicer or any other Servicer to those not be responsible for such determination and may rely on withdrawn from its Protected Account in accordance with the Master Servicer's or the Securities Administrator's instructions under this Section 5.08related Servicing Agreement): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own fundsAdvance, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged not covered by an uninsured cause any Insurance Policy, including any hazard insurance or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses liquidation expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses liquidation expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses liquidation expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (xi) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (xi) of this subsection (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds unreimbursed Servicing Advances made pursuant to this Agreement or the related applicable Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances Servicing Advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any unreimbursed Advance or advanceany Servicing Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses clause (i) and or (vi); (viii) to pay the any Master Servicer as set forth in Section 4.14Servicing Fee; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c) 7.04 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement11.02, as applicable; (x) to pay to the Master Servicer, as additional compensation, any Excess Liquidation Proceeds with respect to a Mortgage Loan to the extent not retained by the related Servicer and to pay to the EMC Servicer, as additional servicing compensation, any Excess Liquidation Proceeds with respect to the extent not retained by the Company or the related Serviceran EMC Mortgage Loan; (xi) to reimburse or pay the Company any Servicer or the related Master Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Trustee or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vixii), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, based solely on the applicable Remittance Report, the Trustee shall distribute the Available Interest Funds to the extent of funds on deposit and Principal Funds in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.04(a).

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2003-Sd1), Pooling and Servicing Agreement (Bear Stearns Asset Back Securities Trust 2003-3)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, Administrator will make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Distribution Account in accordance with the terms of this Agreement; provided that the Trustee Securities Administrator shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's ’s instructions under this Section 5.085.09): (i) to reimburse the Master Servicer, the Company or the related Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (viiv) to reimburse the Master Servicer, the Company or a Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and through (viiv); (viiivi) to pay the Master Servicer as set forth in Section 4.14; (ixvii) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (xviii) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiix) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiix) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiiixi) to remove amounts deposited in error; and (xivxii) to clear and terminate the Distribution Account pursuant to Section 11.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (viiv), inclusive, and (viiivi) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.065.08. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Interest Funds and Principal Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee Securities Administrator may conclusively rely.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac5), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac4), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac4)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities AdministratorServicer, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder Trustee deems necessary for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i1) to reimburse the Master Servicer, the Company Servicer or the related Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Monthly Advance was made; (ii2) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii3) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (a3.20(a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi4) to reimburse the Master Servicer, Servicer or the Company or a Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii5) to reimburse the Master Servicer, Servicer or the Company or a Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i1) and (vi4); (viii6) to pay the Master Servicer as set forth in Section 4.143.14; (ix7) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) 3.03 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement6.03; (x) 8) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi9) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii10) to reimburse the Trustee, Trustee and the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii11) to remove amounts deposited in error; and (xiv12) to clear and terminate the Distribution Account pursuant to Section 11.019.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Certificate Account pursuant to subclauses (i1) through (vi), inclusive, and (viii4) immediately above or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.06Servicer. (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds amounts on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relypursuant to Section 4.01.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2006-3), Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2006-3), Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2006-4)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer or the Securities AdministratorServicer, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own funds or any advance of such Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith as a Servicing Advance in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (aSection 4.05(a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Section 4.05(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Section 4.05(a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant to this Agreement or the related Servicing AgreementSections, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to this Agreement, including but not limited to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related applicable Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related Applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in this Agreement or the related Applicable Servicing Agreement, as applicable; (xii) to reimburse the Trustee, the Custodian Trustee or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.019.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds for the Mortgage Loans to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-Oar4), Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-Oar3), Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-Oar2)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company or the related Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company or a Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06); (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.06. (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively rely.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Asset Bk Cert Ser 03 Ac2), Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Certs Ser 2003-Ac3), Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Asset Bk Cert Ser 03 Ac2)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Paying Agent will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Distribution Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master ServicerServicer (i) any expenses, costs and liabilities recoverable by the Trustee, the Company Master Servicer or the related Securities Administrator or the Custodian pursuant to Sections 3.03, 7.04 and 9.05 and (ii) any amounts payable to the Master Servicer as set forth in Section 3.14; provided, however, that the Master Servicer shall be obligated to pay from its own funds any amounts which it is required to pay under Section 7.03(a); (iii) to reimburse the Master Servicer or any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iiiiv) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xviii) of this Subsection 4.05 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (viivi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (viiv); (viiivii) to pay the Master Servicer as set forth in Section 4.143.14; (ixviii) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c3.03 and 7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (xix) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xix) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiixi) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiiixii) to remove amounts deposited in error; (xiii) to pay the Depositor all investment earnings to which it is entitled as set forth in Section 4.04(c); and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer Securities Administrator shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (viiv), inclusive, and (viiivi) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer Securities Administrator without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee Paying Agent shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account for each Loan Group to the holders Holders of the Certificates in accordance with distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns ARM Trust 2006-2), Pooling and Servicing Agreement (Bear Stearns ARM Trust 2006-2), Pooling and Servicing Agreement (Bear Stearns ARM Trust 2006-4)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Repurchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03 (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account for each Loan Group to the holders Holders of the Certificates in accordance with distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2003 3), Pooling and Servicing Agreement (Bear Stearns Arm Trust 2003-4), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Ii Inc)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Paying Agent will, from time to time on written demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation ProceedsSubsequent Recoveries) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation ProceedsSubsequent Recoveries) which represent late recoveries of the payments for which such advances were made; (viiv) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (viiv); (viiivi) to pay the Master Servicer as set forth in Section 4.143.14; (ixvii) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (xviii) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiix) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiix) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to and the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreement; (xiiixi) to remove amounts deposited in error; and (xivxii) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viiiiv) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee Paying Agent shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with written distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Prime Mortgage Trust 2005-4), Pooling and Servicing Agreement (Prime Mortgage Trust 2005-4), Pooling and Servicing Agreement (Prime Mortgage Trust 2005-5)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer or the Securities AdministratorServicer, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement or as the Securities Administrator has instructed hereunder deems necessary for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to reimburse the Master Servicer, the Company Servicer or the related Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting with respect to which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (aSection 4.05(a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or the Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which the Master Servicer or the Servicer would have been entitled to receive under clause (ix) of this Section 4.05 (a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or the Servicer from the Repurchase Price for any Mortgage Loan, the amount which the Master Servicer or the Servicer would have been entitled to receive under clause (ix) of this Section 4.05(a) as servicing compensation; (vi) to reimburse the Master Servicer, Servicer or the Company or a Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause clause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, Servicer or the Company or a Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basisbasis and shall provide a copy to the Securities Administrator, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses clauses (i) through (vi), inclusive, ) and (viii) or with respect to any such amounts which would have been covered by such subclauses clauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (MortgageIT Trust 2005-Ar1), Pooling and Servicing Agreement (MortgageIT Trust 2005-Ar1), Pooling and Servicing Agreement (MortgageIT Trust 2005-Ar1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer (or with respect to clause (l) hereto, on demand of the Trustee, the Securities Administrator or the Securities AdministratorCustodian), make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder deems necessary for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (ia) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting with respect to which such Advance or Servicing Monthly Advance was made; (iib) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iiic) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (aSection 4.05(a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (ivd) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under clause (ix) of this Section 4.05(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (ve) [reserved]to pay the Master Servicer or any Servicer from the Repurchase Price for any Mortgage Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under clause (ix) of this Section 4.05(a) as servicing compensation; (vif) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause clause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (viig) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Nonrecoverable Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance that has not been reimbursed pursuant to clauses (i) and (vi); (viiih) to pay the Master Servicer as set forth in Section 4.143.14; (ixi) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (xj) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xik) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiil) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiiim) to remove amounts deposited in error; and; (xivn) to clear and terminate the Distribution Account pursuant to Section 11.0110.01; and (o) to pay the Depositor as set forth in Section 4.04(e). (bp) The Master Servicer Securities Administrator shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basisbasis and shall provide a copy to the Securities Administrator, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses clauses (i) through (vi), inclusive, ) and (viii) or with respect to any such amounts which would have been covered by such subclauses clauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.04(b). Reimbursements made pursuant to clauses (vii), (ix), (xi) and (xii) will be allocated between the Loan Groups or Sub-Loan Groups, as applicable, pro rata based on the aggregate Stated Principal Balances of the Mortgage Loans in each Loan Group or Sub-Loan Group, as applicable. (cq) On each Distribution Date, the Trustee Securities Administrator shall distribute the Interest Funds, Principal Funds and Available Funds to the extent of funds on deposit in the Distribution Account for each Loan Group or Sub-Loan Group, as applicable, to the holders Holders of the related Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-6), Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-3), Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-4)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, Securities Administrator will from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has are designated for such transfer or withdrawal pursuant to this Agreement or any and the GMACM Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee Securities Administrator shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's ’s instructions under this Section 5.085.09): (i) to reimburse the Master Servicer, the Company or the related Servicer for any unreimbursed Advance or Servicing Advance of its own fundsfunds pursuant to this Agreement or the GMACM Servicing Agreement, the such right of the Master Servicer, the Company or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for unreimbursed amounts expended by the Master Servicer, the Company or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured unreimbursed expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company or a Servicer for any Advance or advanceServicing Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses (i) and through (viiii); (viiiv) to pay the Master Servicer as set forth in Section 4.144.09; (ixvi) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.034.02, 8.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (xvii) to pay to the Master Servicer, as additional master servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiviii) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related GMACM Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related GMACM Servicing Agreement; (xiiix) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.065.07); (xiiix) to remove amounts deposited in error; (xi) to make distributions to the Swap Administrator for payment to the Swap Provider as provided in this Agreement; and (xivxii) to clear and terminate the Distribution Account pursuant to Section 11.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (viiv), inclusive, and (viiivi) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.065.08. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds related Interest Remittance Amount and Principal Distribution Amount to the extent of funds on deposit in the Distribution Account to the holders of the related Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.04.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement, Pooling and Servicing Agreement (SACO I Trust 2007-2)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee willSecurities Administrator shall, from time to time on demand of the Master Servicer time, withdraw or the Securities Administrator, make or cause to be made such withdrawals or transfers transfer funds from the Distribution Account as to a Servicer, to the Master Servicer has designated for such transfer Servicer, to the Trustee or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder itself for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own funds or of such Servicer’s own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation ProceedsProceeds and the Termination Price) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that receive under subclause (iviii) any amounts with respect to of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan were if paid as Excess Liquidation Proceeds pursuant in a timely manner by the related Mortgagor; (v) to clause pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (xviii) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for servicing related advances of funds pursuant to this Agreement or the related Servicing Agreementfunds, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such servicing advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in its monthly Master Servicing Fee and any investment income and other additional servicing compensation payable pursuant to Section 4.143.14; (ix) to reimburse the Master Servicer or the Securities Administrator for expenses, costs and liabilities incurred any expenses recoverable by and reimbursable to it the Master Servicer or the Securities Administrator pursuant to Sections 4.03, 8.04(c) 3.03 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement3.32; (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related such Servicer, to the extent provided herein and in the related Servicing Agreement; (xiixi) to reimburse the Trustee, the Custodian or Trustee and the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it from funds of the Trust Fund pursuant to this Agreement (Sections 3.31, 3.32 or 8.05, and to reimburse the Trustee for any fees, costs and expenses incurred by or reimbursable to it pursuant to Section 2.03(a), 7.01(b), 8.02, 8.05 or 8.07, to the extent not otherwise reimbursed from to it; (xii) to pay to the Master Servicer Collection all investment earnings on amounts on deposit in the Distribution Account in accordance with to what it is entitled under Section 5.064.02(c); (xiii) to reimburse the Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to Section 8.19; (xiv) to pay the Credit Risk Manager the Credit Risk Manager Fee; (xv) to remove amounts deposited in error; and (xivxvi) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) In addition, on or before the Business Day immediately preceding each Distribution Date, the Master Servicer shall deposit in the Distribution Account (or remit to the Securities Administrator for deposit therein) any Advances or Compensating Interest Payments, to the extent required to be made but not made by a Servicer and required to be made by the Master Servicer hereunder with respect to the Mortgage Loans. (c) The Securities Administrator or the Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement payments or reimbursements from the Distribution Account pursuant to subclauses (i) through (viviii), inclusive, inclusive and (viiixi) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (cd) In order to comply with its duties under the USA PATRIOT Act of 2001, the Securities Administrator shall obtain and verify certain information and documentation from the other parties hereto, including, but not limited to, each such party's name, address and other identifying information. (e) On each Distribution Date, the Trustee Securities Administrator, as Paying Agent, shall distribute the Available Funds to the extent of withdraw funds on deposit in the Distribution Account to the holders extent of the aggregate Available Funds and distribute such amounts to the Holders of the Certificates and any other parties entitled thereto in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.01.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (HarborView 2007-7), Pooling and Servicing Agreement (HarborView 2007-7), Pooling and Servicing Agreement (HarborView 2007-4)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, Securities Administrator will from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to pay to the Trustee any expenses recoverable by the Trustee pursuant to this Agreement. (ii) to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer to reimbursement pursuant to this subclause (iii) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (iiiii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iiiiv) to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, Servicer as Successor Servicer or the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late recoveries of the payments for which such advances were made; (viivi) to reimburse the Master Servicer, Servicer as Successor Servicer or the Company or a Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (iii) and (viv); (vii) to pay the Credit Risk Management Fee to the Credit Risk Manager; provided, however, that upon the termination of the Credit Risk Manager pursuant to Section 3.33 hereof, the amount of the Credit Risk Management Fee (or any portion thereof) previously payable to the Credit Risk Manager as described herein shall be paid to the Seller; (viii) to pay the Master Servicer as set forth in Section 4.14; (ix) to reimburse the Master Servicer Trustee or the Securities Administrator for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and this Agreement (d) and 12.02 or otherwise reimbursable to it including the expenses of the Securities Administrator in connection with a tax audit in connection with the performance of its obligations pursuant to this AgreementSection 9.13); (xix) to pay to the Master ServicerTrust Fund, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xix) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and or therein; (xi) to reimburse the Trustee for expenses incurred in the related Servicing Agreementtransfer of servicing responsibilities of the terminated Servicer after the occurrence and continuance of a Servicer Default to the extent not paid by the terminated Servicer; (xii) to reimburse the Trustee, Master Servicer for any costs and expenses reimbursable to the Master Servicer pursuant to this Agreement; (xiii) to reimburse the related Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to or the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)related Custodial Agreement; (xiiixiv) to remove amounts deposited in error; and (xivxv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer Securities Administrator shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (iii) through (viv), inclusive, and (viiivii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer Securities Administrator without being deposited in the Distribution Account under Section 5.063.31. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds Distribution Amount, to the extent of funds on deposit in the Distribution Account to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.04.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corp. Series 2005-Ar5), Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2005-Ar4), Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2005-Ar3)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer or the Securities AdministratorServicer, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee Securities Administrator shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's ’s instructions under this Section 5.085.09): (i) to reimburse the Master Servicer, the Company or the related Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (viiv) to reimburse the Master Servicer, the Company or a Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and through (viiv); (viiivi) to pay the Master Servicer as set forth in Section 4.14; (ixvii) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (xviii) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds with respect to each Loan Group to the extent not retained by the Company or the related Servicer; (xiix) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiix) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.065.07); (xiiixi) to remove amounts deposited in error; and (xivxii) to clear and terminate the Distribution Account pursuant to Section 11.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (viiv), inclusive, and (viiivi) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.065.08. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Group I Available Funds and Group II Available Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the related Certificates and the Certificate Insurers in accordance with the Remittance Report upon which the Trustee Securities Administrator may conclusively rely.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Ac5), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Ac6), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Ac5)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Repurchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant to this Agreement or the related Servicing AgreementSections, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement12.03; (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Trustee or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Group Available Funds for each Loan Group to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Repurchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03 (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant to this Agreement or the related Servicing AgreementSections, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Group Available Funds for each Loan Group to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2002-9), Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2002-10), Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2002-11)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting with respect to which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (aSection 4.05(a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under clause (ix) of this Section 4.05(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Repurchase Price for any Mortgage Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under clause (ix) of this Section 4.05(a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause clause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses clauses (i) through (vi), inclusive, ) and (viii) or with respect to any such amounts which would have been covered by such subclauses clauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). Reimbursements made pursuant to clauses (vii), (ix), (xi) and (xii) will be allocated between the Loan Groups pro rata based on the aggregate Stated Principal Balances of the Mortgage Loans in each Loan Group. (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account for each Loan Group to the holders Holders of the Certificates in accordance with distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Alt a Tr 04 7), Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Alt a Tr 04 9), Pooling and Servicing Agreement (Bear Stearns Alt a Trust Mort Pass THR Certs Sers 2003-6)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer or the Securities Administrator has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03 (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant to this Agreement or the related Servicing AgreementSections, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to this Agreement, including but not limited to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Trustee or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Available Funds for each Loan Group to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates as instructed by the Master Servicer or the Securities Administrator in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-A4), Pooling and Servicing Agreement (MERRILL LYNCH MORT INV TRUST MLMI Series 2005-A1), Pooling and Servicing Agreement (MERRILL LYNCH MORT INV TRUST MLMI Series 2005-A1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting with respect to which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (aSection 4.03(a) to the Master Servicer; Servicer and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under clause (ix) of this Section 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Repurchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under clause (ix) of this Section 4.03(a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause clause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi) of this Section 4.03(a); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses clauses (i) through (vi), inclusive, ) and (viii) or with respect to any such amounts which would have been covered by such subclauses clauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). Reimbursements made pursuant to clauses (ix), (xi) and (xii) will be allocated between the Loan Groups pro rata based on the aggregate Stated Principal Balances of the Mortgage Loans in each Loan Group. (c) On each Distribution Date, the Trustee shall distribute the Available Interest Funds and Principal Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Alt a Tr 04 10), Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Alt a Tr 04 8), Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Alt a Tr 04 8)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, Securities Administrator will from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has are designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company or the related Servicer for any unreimbursed Advance or Servicing Advance of its own fundsfunds pursuant to this Agreement or the related Servicing Agreement, the such right of the Master Servicer, the Company or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Supplemental Interest Trust Trustee or the Swap Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this agreement; to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for unreimbursed amounts expended by the Master Servicer, the Company or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; provided, however, that such reimbursement pursuant to this clause shall be limited to amounts recovered from Mortgage Loans from which such expenditures were made; (iii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured unreimbursed expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company or a Servicer for any Advance or advanceServicing Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses (i) and through (viiii); provided, however, that such reimbursement pursuant to this clause shall be limited to amounts recovered from Mortgage Loans from which such Advance was made; (viiiv) to pay the Master Servicer as set forth in Section 4.144.09; (ixvi) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.034.02, 8.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (xvii) to pay to the Master Servicer, as additional master servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiviii) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiiix) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.065.07); (xiiix) to remove amounts deposited in error; and (xivxi) to clear and terminate the Distribution Account pursuant to Section 11.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (viiv), inclusive, and (viiivi) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.065.08. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds related Interest Remittance Amount and the Principal Distribution Amount to the extent of funds on deposit in the Distribution Account to the holders of the related Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.04.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He4), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He3), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He3)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, Securities Administrator will from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has are designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company or the related Servicer for any unreimbursed Advance or Servicing Advance of its own fundsfunds pursuant to this Agreement or the related Servicing Agreement, the such right of the Master Servicer, the Company or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for unreimbursed amounts expended by the Master Servicer, the Company or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; provided, however, that such reimbursement pursuant to this clause shall be limited to amounts recovered from Mortgage Loans in the related Loan Group from which such expenditures were made; (iii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured unreimbursed expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company or a Servicer for any Advance or advanceServicing Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses (i) and through (viiii); provided, however, that such reimbursement pursuant to this clause shall be limited to amounts recovered from Mortgage Loans in the related Loan Group from which such Advance was made; (viiiv) to pay the Master Servicer as set forth in Section 4.144.09; (ixvi) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.034.02, 8.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (xvii) to pay to the Master Servicer, as additional master servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiviii) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiiix) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.065.07), subject to the Extraordinary Trust Fund Expenses Cap; (xiiix) to remove amounts deposited in error; and (xivxi) to clear and terminate the Distribution Account pursuant to Section 11.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (viiv), inclusive, and (viiivi) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.065.08. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds related Interest Remittance Amount, Group I Principal Distribution Amount and Group II Principal Distribution Amount to the extent of funds on deposit in the Distribution Account to the holders of the related Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.04.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement (SACO I Trust 2006-5), Pooling and Servicing Agreement (SACO I Trust 2006-5)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee willSecurities Administrator shall, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement or as the Securities Administrator has instructed hereunder Agreements for the following purposes (limited purposes, not in the case any order of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):priority: (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Loan, the amount which it or such Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that receive under subclause (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xvii) of this Subsection (a) to as servicing compensation on account of each defaulted scheduled payment on such Loan if paid in a timely manner by the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Loan, the amount which it or such Servicer would have been entitled to receive under subclause (vii) of this Subsection (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company or a any Servicer for any Advance or advanceNonrecoverable Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses clause (i) and (vi); (viiivii) to pay the Master Servicing Compensation to the Master Servicer, the Servicing Fee to the Servicers (to the extent such Servicing Fee was not retained by a Servicer as set forth in Section 4.14; (ix) pursuant to the related Servicing Agreement), for such Distribution Date and to reimburse the Master Servicer for premiums payable in connection with any lender paid mortgage insurance and for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.3, 8.04(c) 6.3, 8.5 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement;10.1. (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiviii) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiiix) to reimburse the Trustee, the Custodian or Custodians and the Securities Administrator for expenses, costs and liabilities liabilities, if any, incurred by or reimbursable to it such parties pursuant to this Agreement (to and the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreements; (xiiix) to remove amounts deposited in error; and (xivxi) to clear and terminate the Distribution Account pursuant to Section 11.019.1. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (viv), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.063.23(b). (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds Distribution Amount to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 4.1.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar2), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar2), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar2)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee willSecurities Administrator shall, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement or as the Securities Administrator has instructed hereunder Agreements for the following purposes (limited purposes, not in the case any order of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):priority: (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Loan, the amount which it or such Servicer would have been entitled to reimbursement receive under subclause (viii) of this Subsection (a) as servicing compensation on account of each defaulted scheduled payment on such Loan if paid in a timely manner by the related Mortgagor; (v) to pay the Master Servicer or any Servicer from the Purchase Price for Liquidation Expenses with respect any Loan, the amount which it or such Servicer would have been entitled to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause receive under subclause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company or a any Servicer for any Advance or advanceNonrecoverable Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses clause (i) and (vi); (viiivii) to pay the Master Servicing Fee to the Master Servicer as set forth and the Credit Risk Management Fee to the Credit Risk Manager for such Distribution Date and the amount of any income or gain realized from investments of funds on deposit in the Distribution Account pursuant to Section 4.14; (ix) 3.14 hereof and to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.3, 8.04(c) 6.3, 8.5 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement10.1; (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiviii) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiiix) to reimburse the Trustee, the Custodian or and the Securities Administrator for expenses, costs and liabilities liabilities, if any, incurred by or reimbursable to it such parties pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiiix) to remove amounts deposited in error; and (xivxi) to clear and terminate the Distribution Account pursuant to Section 11.019.1. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (viv), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.063.23(b). (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds Distribution Amount to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 4.1.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Deutsche Alt a Securities Inc Mort Loan Trust Ser 2003-4xs), Pooling and Servicing Agreement (Deutsche Mort Sec Inc Mortgage Loan Trust Series 2004 2), Pooling and Servicing Agreement (Deutsche Mort Sec Inc Mortgage Loan Trust Series 2004 2)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting with respect to which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (aSection 4.03(a) to the Master Servicer; Servicer and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under clause (ix) of this Section 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Repurchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under clause (ix) of this Section 4.03(a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause clause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi) of this Section 4.03(a); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses clauses (i) through (vi), inclusive, ) and (viii) or with respect to any such amounts which would have been covered by such subclauses clauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Available Interest Funds and Principal Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Bear Stearns Trust Mortgage Pass-Through Certs Ser 2004), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, Administrator make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer or the Securities Administrator has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement or as the Securities Administrator has instructed hereunder Agreements for the following purposes purposes, not in any order of priority, (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing P&I Advance of its own funds or any advance of such Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such P&I Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer or such Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (a) to the Master Servicer or such Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection (a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Repurchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreementfunds, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Nonrecoverable P&I Advance or advanceNonrecoverable Servicing Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the P&I Advance or advance Servicing Advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.14[______________] Fee to [______________], the Credit Risk Management Fee to the Credit Risk Manager and the fee payable to [______________] under the [______________] Custodial Agreement; (ix) to pay the Servicing Fee to the Servicers and the Master Servicing Fee to the Master Servicer for such Distribution Date and the amount of any income or gain realized from investments of funds on deposit in the Distribution Account pursuant to Section 3.14 hereof; to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c) 6.03 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement10.01; (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement, or to reimburse or pay any Advance Facility Counterparty to the extent provided in Section 3.31 hereof; (xii) to reimburse the Trustee, the Custodian or Trustee and the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it such parties pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to reimburse the Custodians for expenses, costs and liabilities incurred or reimbursable to them pursuant to the Custodial Agreements; (xiv) to remove amounts deposited in error; and (xivxv) to clear and terminate the Distribution Account pursuant to Section 11.019.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.063.23(b). (c) On each Distribution Date, the Trustee shall distribute the Available Funds Distribution Amount to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with Section 4.01 and the Remittance Report upon which applicable instructions of the Trustee may conclusively relySecurities Administrator.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corp), Pooling and Servicing Agreement (Deutsche Mortgage Securities Inc), Pooling and Servicing Agreement (Deutsche Alt-a Securities Inc)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Master Servicer will, from time to time on demand of the Master a Servicer or the Securities Trust Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement and the related Servicing Agreement. The Master Servicer may clear and terminate the Distribution Account pursuant to Section 9.01 and remove amounts from time to time deposited in error. (b) On an ongoing basis, the Master Servicer shall withdraw from the Distribution Account (i) to pay any Extraordinary Trust Fund Expenses including but not limited to amounts payable to the Servicers or the Depositor pursuant to Section 6.03(b) or Master Servicer pursuant to Section 6.03(c), and (ii) any Servicing Agreement or amounts expressly payable to the Master Servicer as set forth in Section 3.14. (c) The Master Servicer may withdraw from the Securities Administrator has instructed hereunder for Distribution Account any of the following purposes amounts (limited in the case of amounts due any such amount payable or reimbursable to a Servicer, only to the extent such Servicer shall not have paid or reimbursed itself such amount prior to making any remittance to the Master Servicer pursuant to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this the related Servicing Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation ProceedsSubsequent Recoveries) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds, Liquidation Proceeds or Liquidation Proceeds Subsequent Recoveries relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related Servicer from Liquidation Proceeds and Subsequent Recoveries from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, Servicer or the Company or a related Servicer for advances of funds pursuant (other than Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation ProceedsSubsequent Recoveries) which represent late recoveries of the payments for which such advances were made; (viiv) to reimburse the Master Servicer, Servicer or the Company or a related Servicer for any Advance or advanceServicing Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses (i) and through (iv); (vi)) to make distributions in accordance with Section 4.01; (vii) to pay to the Trust Administrator on each Distribution Date the Administration Fee; (viii) to pay the Master Servicer as set forth any amounts in respect of taxes pursuant to Section 4.1410.01(g); (ix) without duplication of the amount set forth in clause (iii) above, to reimburse pay any Extraordinary Trust Fund Expenses to the extent not paid by the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreementfrom the Distribution Account; (x) to pay to without duplication of any of the Master Servicerforegoing, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related Servicer Servicers any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing AgreementAgreement and to refund to the related Servicer any amount remitted by the related Servicer to the Master Servicer in error; (xi) to pay to the Master Servicer, any interest or investment income earned on funds deposited in the Distribution Account; (xii) to reimburse pay the Trustee, Credit Risk Manager the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Credit Risk Manager Fee; (xiii) to remove amounts withdraw any amount deposited in the Distribution Account in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.01. (b) 9.01. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses clauses (i) through (vi), inclusive, and (viiiv) above or with respect to any such amounts which would have been covered by such subclauses clauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.06Account. (cd) On or before the Business Day prior to each Distribution Date, the Trustee Master Servicer shall distribute the Available Funds remit to the extent of funds on deposit in the Distribution Account any Advances required to be made and any Compensating Interest required to be paid, in either such case by the Master Servicer with respect to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relyMortgage Loans.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2005-He1), Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2005-He1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting with respect to which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (aSection 4.05(a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under clause (ix) of this Section 4.05(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Repurchase Price for any Mortgage Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under clause (ix) of this Section 4.05(a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause clause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses clauses (i) through (vi), inclusive, ) and (viii) or with respect to any such amounts which would have been covered by such subclauses clauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). Reimbursements made pursuant to clauses (vii), (ix), (xi) and (xii) will be allocated between the Loan Groups pro rata based on the aggregate Stated Principal Balances of the Mortgage Loans in each Loan Group. (c) On each Distribution Date, the Trustee shall distribute the Interest Funds, Principal Funds and Available Funds to the extent of funds on deposit in the Distribution Account for each Loan Group to the holders Holders of the Certificates in accordance with distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Alt a Tr 05 2), Pooling and Servicing Agreement (Structured Asset Mort Inv Ii Inc Bear Stearns Alt a Tr 04 11)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Paying Agent will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this the related Servicing Agreement or any Servicing this Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to reimburse the Master Servicer, the Company Servicer or the related Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Master Servicer's or Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a4.03(a) to the Master Servicer; , and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or the related Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which the Master Servicer or the related Servicer would have been entitled to receive under subclause (viii) of this Subsection 4.03(a) as servicing compensation on account of each defaulted Scheduled Payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or the related Servicer from the Repurchase Price for any Mortgage Loan, the amount which the Master Servicer or the related Servicer would have been entitled to receive under subclause (viii) of this Subsection 4.03(a) as servicing compensation; (vi) to reimburse the Master Servicer, Servicer or the Company or a related Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreementfunds, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, Servicer or the Company or a related Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan Loan, if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related a Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related such Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse or pay the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for fees, expenses, costs and liabilities incurred by and reimbursable or reimbursable payable to it pursuant to this Agreement (and not otherwise reimbursable or payable to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)it; (xiii) to remove amounts deposited in error; and; (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01; and (xv) on the first Distribution Date, to withdraw an amount equal to the First Distribution Date Distribution Amount from the Distribution Account and distribute such amount to the holders of the Class X Certificates. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vivii), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.06x). (c) On each Distribution Date, the Trustee Paying Agent shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account for each Loan Group to the holders Holders of the Certificates in accordance with distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2004-Ar6), Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2004-Ar6)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on written demand of the Master Servicer or the Securities AdministratorServicer, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator Trustee has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):); (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to (1) amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation ProceedsSubsequent Recoveries) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Monthly Advance was mademade and (2) to the extent of Amounts Held for Future Distributions with respect to the related Loan Group; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the any Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xviii) of this Subsection (a4.05(a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds;. (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause being limited to (1) amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation ProceedsSubsequent Recoveries) which represent late recoveries of the payments for which such advances were mademade and (2) to the extent of Amounts Held for Future Distributions with respect to the related Loan Group; (viiv) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (viiv); (viiivi) to pay the Master Servicer as set forth in Section 4.143.14; (ixvii) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (xviii) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not already retained by the Company or the related Servicer; (xiix) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiix) to reimburse the Trustee, Trustee or the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to and the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreement; (xiiixi) to pay the Trustee as set forth in Section 9.05; (xii) to remove amounts deposited in error; and (xivxiii) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viiiiv) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.04(c). (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement (Prime Mortgage Trust 2007-3)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to pay to the Trustee any expenses recoverable by the Trustee pursuant to this Agreement. (ii) to reimburse the Master Servicer, the Company Trustee as Successor Servicer or the related Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Trustee as Successor Servicer or the related Servicer to reimbursement pursuant to this subclause (iii) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (iiiii) to reimburse the Master Servicer, the Company Trustee or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Trustee as Successor Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iiiiv) to reimburse the Master Servicer, the Company Trustee as Successor Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Trustee as Successor Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, Trustee as Successor Servicer or the Company or a related Servicer for advances of funds pursuant to this Agreement or the related M&T Servicing Agreement, as applicable, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late recoveries of the payments for which such advances were made; (viivi) to reimburse the Master Servicer, Trustee as Successor Servicer or the Company or a related Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (iii) and (vi)v) or pursuant to the M&T Servicing Agreement; (vii) to pay the Credit Risk Management Fee to the Credit Risk Manager; provided, however, that upon the termination of the Credit Risk Manager pursuant to Section 4.08(b) hereof, the amount of the Credit Risk Management Fee (or any portion thereof) previously payable to the Credit Risk Manager as described herein shall be paid to the Holder of the Class CE Certificate; (viii) to pay the Master Servicer as set forth in Section 4.14; (ix) to reimburse the Master Servicer Trustee for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) this Agreement and the M&T Servicing Agreement (d) and 12.02 or otherwise reimbursable to it including the expenses of the Trustee in connection with a tax audit in connection with the performance of its obligations pursuant to this Section 9.12 and the M&T Servicing Agreement); (xix) to pay to the Master ServicerTrust Fund, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xix) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related M&T Servicing Agreement Agreement, as applicable, and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and or therein; (xi) to reimburse the Trustee for expenses incurred in the related Servicing Agreementtransfer of servicing responsibilities of the terminated Servicer after the occurrence and continuance of a Servicer Default to the extent not paid by the terminated Servicer; (xii) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to or the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer Trustee shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (iii) through (viv), inclusive, and (viiivii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer Trustee without being deposited in the Distribution Account under Section 5.064.07. (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit Distribution Amount in the Distribution Account to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.04.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2004 - AP3), Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2004 - AP3)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that , and in the Trustee shall case of amounts due the EMC Servicer or any other Servicer to those not be responsible for such determination and may rely on withdrawn from its Protected Account in accordance with the Master Servicer's or the Securities Administrator's instructions under this Section 5.08related Servicing Agreement): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own fundsAdvance, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged not covered by an uninsured cause any Insurance Policy, including any hazard insurance or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses liquidation expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses liquidation expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses liquidation expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (xi) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (xi) of this subsection (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds unreimbursed Servicing Advances made pursuant to this Agreement or the related applicable Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances Servicing Advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any unreimbursed Advance or advanceany Servicing Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses clause (i) and or (vi); (viii) to pay the any Master Servicer as set forth in Section 4.14Servicing Fee; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c) 7.04 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement11.02, as applicable; (x) to pay to the Master Servicer, as additional compensation, any Excess Liquidation Proceeds with respect to a Mortgage Loan to the extent not retained by the related Servicer and to pay to the EMC Servicer, as additional servicing compensation, any Excess Liquidation Proceeds with respect to the extent not retained by the Company or the related Serviceran EMC Mortgage Loan; (xi) to reimburse or pay the Company any Servicer or the related Master Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vixii), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, based solely on the applicable Remittance Report, the Trustee shall distribute the Available Interest Funds to the extent of funds on deposit and Principal Funds in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.04(a).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2003-Sd3), Pooling and Servicing Agreement (Bearn Stearns Asset Backed Securities Trust 2004-Sd4)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer or the Securities AdministratorServicer, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee Securities Administrator shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's ’s instructions under this Section 5.085.09): (i) to reimburse the Master Servicer, the Company or the related Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (viiv) to reimburse the Master Servicer, the Company or a Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viiivi) to pay the Master Servicer as set forth in Section 4.14; (ixvii) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (xviii) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiix) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiix) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.065.07); (xiiixi) to remove amounts deposited in error; and (xivxii) to clear and terminate the Distribution Account pursuant to Section 11.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (viiv), inclusive, and (viiivi) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.065.07. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee Securities Administrator may conclusively rely.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Ac4), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Ac7)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, Securities Administrator will from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to pay to the Trustee any expenses recoverable by the Trustee pursuant to this Agreement. (ii) to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related a Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Servicer as Successor Servicer or the related a Servicer to reimbursement pursuant to this subclause (iii) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (iiiii) to reimburse the Master Servicer, the Company Servicer or the related a Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer as Successor Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iiiiv) to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related a Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company Servicer as Successor Servicer or a such Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late recoveries of the payments for which such advances were made; (viivi) to reimburse the Master Servicer, the Company Servicer as Successor Servicer or a such Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (iii) and (viv); (vii) [reserved]; (viii) to pay the Master Servicer as set forth in Section 4.14; (ix) to reimburse the Master Servicer Trustee or the Securities Administrator for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and this Agreement (d) and 12.02 or otherwise reimbursable to it including the expenses of the Securities Administrator in connection with a tax audit in connection with the performance of its obligations pursuant to this AgreementSection 9.13); (xix) to pay to the Master ServicerTrust Fund, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related a Servicer; (xix) to reimburse or pay the Company or the related a Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related such Servicer, to the extent provided herein and or therein; (xi) to reimburse the Trustee for expenses incurred in the related Servicing Agreementtransfer of servicing responsibilities of a terminated Servicer after the occurrence and continuance of a Servicer Default to the extent not paid by the terminated Servicer; (xii) to reimburse the Trustee, Master Servicer for any costs and expenses reimbursable to the Master Servicer pursuant to this Agreement; (xiii) to reimburse the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to or the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreement; (xiiixiv) to remove amounts deposited in error; and (xivxv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer Securities Administrator shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (iii) through (viv), inclusive, and (viiivii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer Securities Administrator without being deposited in the Distribution Account under Section 5.063.31. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds Distribution Amount, to the extent of funds on deposit in the Distribution Account to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.04.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2007-2), Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2007-3)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer or the Securities Administrator has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03 (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant to this Agreement or the related Servicing AgreementSections, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to this Agreement, including but not limited to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Trustee or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds for each Loan Group to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates as instructed by the Master Servicer or the Securities Administrator in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investor Trust Series MLCC 2005-3), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investor Trust Series MLCC 2005-3)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer or the Securities AdministratorServicer, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement or as the Securities Administrator has instructed hereunder Agreements for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith as a Servicing Advance in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03 (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant to this Agreement or the related Servicing AgreementSections, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to this Agreement, including but not limited to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Trustee or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.019.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds Distribution Amount for each Mortgage Group to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-F1), Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-F1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Repurchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03 (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant to this Agreement or the related Servicing AgreementSections, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for fees, expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Group Available Funds for each Loan Group to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2002-12), Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Bear Stearns Arm Trust 2002-12)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer (or with respect to clause (l) hereto, on demand of the Trustee, the Securities Administrator or the Securities AdministratorCustodian), make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder deems necessary for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (ia) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting with respect to which such Advance or Servicing Monthly Advance was made; (iib) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iiic) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (aSection 4.05(a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (ivd) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under clause (ix) of this Section 4.05(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (ve) [reserved]to pay the Master Servicer or any Servicer from the Repurchase Price for any Mortgage Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under clause (ix) of this Section 4.05(a) as servicing compensation; (vif) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause clause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (viig) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Nonrecoverable Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance that has not been reimbursed pursuant to clauses (i) and (vi); (viiih) to pay the Master Servicer as set forth in Section 4.143.14; (ixi) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (xj) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xik) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing AgreementAgreement (including any amounts owed to the Company for any Mortgage Loans subserviced on behalf of the Company, to the extent such amounts are received by the Master Servicer or the Securities Administrator); (xiil) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiiim) to remove amounts deposited in error; and; (xivn) to clear and terminate the Distribution Account pursuant to Section 11.0110.01; and (o) to pay the Depositor as set forth in Section 4.04(e). (bp) The Master Servicer Securities Administrator shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basisbasis and shall provide a copy to the Securities Administrator, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses clauses (i) through (vi), inclusive, ) and (viii) or with respect to any such amounts which would have been covered by such subclauses clauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.04(b). Reimbursements made pursuant to clauses (vii), (ix), (xi) and (xii) will be allocated between the Loan Groups pro rata based on the aggregate Stated Principal Balances of the Mortgage Loans in each Loan Group. (cq) On each Distribution Date, the Trustee Securities Administrator shall distribute the Interest Funds, Principal Funds and Available Funds to the extent of funds on deposit in the Distribution Account for each Loan Group to the holders Holders of the related Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relyArticle VI.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Alt-a Trust 2006-8), Pooling and Servicing Agreement (Bear Stearns Alt-a Trust 2006-8)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Repurchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Available Interest Funds and Principal Funds to the extent of funds on deposit in the Distribution Account for each Loan Group to the holders Holders of the Certificates in accordance with distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Struct Ass Mort Inv Inc Bs Alta Mort Pas THR Cer Ser 2003 1), Pooling and Servicing Agreement (Struct Ass Mort Inv Inc Bs Alta Mort Pas THR Cer Ser 2003 1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as pursuant to this Agreement for the following purposes: (i) to pay the Master Servicer has designated for such transfer Servicer, the Securities Administrator, the Custodians or withdrawal the Trustee any expenses recoverable by the Master Servicer, the Securities Administrator, the Custodians or the Trustee pursuant to this Agreement or any Servicing Agreement or the Custodial Agreement, as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):applicable; (iii) to reimburse the Trustee as Successor Master Servicer, the Company Master Servicer as Successor Servicer or the related Servicer for any Advance or Servicing Advance of its own funds, the right of the Trustee as Successor Master Servicer, the Company Master Servicer as Successor Servicer or the related Servicer to reimbursement pursuant to this subclause (iii) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (iiiii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iiiiv) to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Trustee as Successor Master ServicerSerivcer, the Company Master Servicer as Successor Servicer or a the Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late recoveries of the payments for which such advances were made; (viivi) to reimburse the Trustee as Successor Master Servicer, the Company Master Servicer as Successor Servicer or a the Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (iii) and (viv); (vii) to pay the Credit Risk Management Fee to the Credit Risk Manager; provided, however, that upon the termination of the Credit Risk Manager pursuant to Section 4.08(b) hereof, the amount of the Credit Risk Management Fee (or any portion thereof) previously payable to the Credit Risk Manager as described herein shall be paid to the Seller; (viii) to pay the Master Servicer as set forth in Section 4.14; (ix) to reimburse the Master Servicer Trustee or the Securities Administrator for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and this Agreement (d) and 12.02 including the expenses of the Trustee or otherwise reimbursable to it the Securities Administrator in connection with a tax audit in connection with the performance of its obligations pursuant to this AgreementSection 9.12); (xix) to pay to the Master ServicerTrust Fund, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xix) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and or therein; (xi) to reimburse the Trustee for expenses incurred in the related Servicing Agreementtransfer of master servicing responsibilities of the terminated Master Servicer after the occurrence and continuance of a Master Servicer Default to the extent not paid by the terminated Master Servicer and to reimburse the Master Servicer for expenses incurred in the transfer of servicing responsibilities of the terminated Servicer after the occurrence and continuance of a Servicer Default to the extent not paid by the terminated Servicer; (xii) to pay the Master Servicing Fee to the Master Servicer; (xiii) to reimburse the Trustee, the Custodian or the Securities Administrator Custodians for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to and the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreement; (xiiixiv) to remove amounts deposited in error; and (xivxv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer Securities Administrator shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (iii) through (viv), inclusive, and (viiivii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer or Servicer without being deposited in the Distribution Account under Section 5.064.06. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds to the extent out of funds then on deposit in the Distribution Account to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.06.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2005-S2), Pooling and Servicing Agreement (Nomura Asset Acceptance Corp)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer or the Securities Administrator has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or the Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or the Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03 (a) as servicing compensation; (vi) to reimburse the Master Servicer, Servicer or the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing AgreementSections, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, Servicer or the Company or a Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to this Agreement, including but not limited to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Trustee or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates as instructed by the Master Servicer or the Securities Administrator in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (MERRILL LYNCH MORT INV TRUST MLMI Series 2005-A2), Pooling and Servicing Agreement (Merrill Lynch Mort Inv Inc MLMI Series 2004-A4)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee willSecurities Administrator shall, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement or as the Securities Administrator has instructed hereunder Agreements for the following purposes (limited purposes, not in the case any order of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):priority: (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Loan, the amount which it or such Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that receive under subclause (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xvii) of this Subsection (a) to as servicing compensation on account of each defaulted scheduled payment on such Loan if paid in a timely manner by the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Loan, the amount which it or such Servicer would have been entitled to receive under subclause (vii) of this Subsection (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company or a any Servicer for any Advance or advanceNonrecoverable Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses clause (i) and (vi); (viiivii) to pay the Master Servicing Compensation to the Master Servicer, the Servicing Fee to the Servicers (to the extent such Servicing Fee was not retained by a Servicer as set forth in Section 4.14; (ix) pursuant to the related Servicing Agreement), the Credit Risk Management Fee to the Credit Risk Manager for such Distribution Date and to reimburse the Master Servicer for premiums payable in connection with any lender paid mortgage insurance and for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.3, 8.04(c) 6.3, 8.5 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement;10.1. (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiviii) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiiix) to reimburse the Trustee, the Custodian or Custodians and the Securities Administrator for expenses, costs and liabilities liabilities, if any, incurred by or reimbursable to it such parties pursuant to this Agreement (to and the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreements; (xiiix) to remove amounts deposited in error; and (xivxi) to clear and terminate the Distribution Account pursuant to Section 11.019.1. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (viv), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.063.23(b). (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds Distribution Amount to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates and to the Certificate Insurer in accordance with the Remittance Report upon which the Trustee may conclusively relySection 4.1.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Deutsche Alt-B Securities, Inc. Mortgage Loan Trust, Series 2006-Ab2), Pooling and Servicing Agreement (Deutsche Alt-B Securities Mortgage Loan Trust, Series 2006-Ab1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Repurchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03 (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account for each Loan Group to the holders Holders of the Certificates in accordance with distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mort Invest Inc Mort Pas THR Certs Ser 03 1), Pooling and Servicing Agreement (Structured Asset Mort Invest Inc Mort Pas THR Certs Ser 03 1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee willSecurities Administrator shall, from time to time on demand of the Master Servicer time, withdraw or the Securities Administrator, make or cause to be made such withdrawals or transfers transfer funds from the Distribution Account as to the Servicer, to the Master Servicer has designated for such transfer Servicer, to the Trustee or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder itself for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to reimburse the Master Servicer, the Company Servicer or the related Servicer for any Advance or Servicing Advance advance, respectively, of its own funds or of the Servicer’s own funds, the right of the Master Servicer, the Company Servicer or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or the Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or the Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause receive under subclause (x) of this Subsection (a4.03(a) to as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]related Mortgagor; (v) [reserved]to pay the Master Servicer or the Servicer from the Purchase Price for any Mortgage Loan, the amount which the Master Servicer or the Servicer would have been entitled to receive under subclause (x) of this Subsection 4.03(a) as servicing compensation; (vi) to reimburse the Master Servicer, Servicer or the Company or a Servicer for servicing related advances of funds pursuant to this Agreement or the related Servicing Agreementfunds, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such servicing advances were made; (vii) to reimburse the Master Servicer, Servicer or the Company or a Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in its monthly Master Servicing Fee and any other servicing compensation payable pursuant to Section 4.143.14; (ix) to pay the Master Servicer any investment income; (x) to reimburse the Master Servicer for expenses, costs and liabilities incurred any expenses recoverable by and reimbursable to it pursuant to Sections 4.03, 8.04(c) 3.03 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer3.27; (xi) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian or Trustee (including in its role as a Custodian) and the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Sections 3.27, 8.05 or 8.10 hereof; (xiii) to pay to the Certificate Insurer its Aggregate Premium Amount; (xiv) to remove amounts deposited in error; and (xivxv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement payments or reimbursements from the Distribution Account pursuant to subclauses (i) through (vivii), inclusive, inclusive and subclause (viiix) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee Securities Administrator, as Paying Agent, shall distribute the Available Funds to the extent of withdraw funds on deposit in the Distribution Account to the holders extent of the aggregate Available Funds and distribute such funds to the Holders of the Certificates and any other parties entitled thereto, in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2005-11)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee willSecurities Administrator shall, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement or as the Securities Administrator has instructed hereunder Agreements for the following purposes (limited purposes, not in the case any order of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):priority: (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Loan, the amount which it or such Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that receive under subclause (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xvii) of this Subsection (a) to as servicing compensation on account of each defaulted scheduled payment on such Loan if paid in a timely manner by the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Loan, the amount which it or such Servicer would have been entitled to receive under subclause (vii) of this Subsection (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company or a any Servicer for any Advance or advanceNonrecoverable Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses clause (i) and (vi); (viiivii) to pay the Master Servicing Compensation to the Master Servicer, the Servicing Fee to the Servicers (to the extent such Servicing Fee was not retained by a Servicer as set forth in Section 4.14; (ix) pursuant to the related Servicing Agreement), the Credit Risk Management Fee to the Credit Risk Manager for such Distribution Date and to reimburse the Master Servicer for premiums payable in connection with any lender paid mortgage insurance and for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.3, 8.04(c) 7.3, 9.5 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement;11.1. (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiviii) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiiix) to reimburse the Trustee, the Custodian or Custodians and the Securities Administrator for expenses, costs and liabilities liabilities, if any, incurred by or reimbursable to it such parties pursuant to this Agreement (to and the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreements; (xiiix) to remove amounts deposited in error; and (xivxi) to clear and terminate the Distribution Account pursuant to Section 11.0110.1 or Section 10.2. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (viv), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.063.23(b). (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds Distribution Amount to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 4.1.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar5), Pooling and Servicing Agreement (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2006-Ar5)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on written demand of the Master Servicer or the Securities AdministratorServicer, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator Trustee has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):); (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation ProceedsSubsequent Recoveries) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xviii) of this Subsection (a4.05(a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation ProceedsSubsequent Recoveries) which represent late recoveries of the payments for which such advances were made; (viiv) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (viiv); (viiivi) to pay the Master Servicer as set forth in Section 4.143.14; (ixvii) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (xviii) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiix) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiix) to reimburse the Trustee, Trustee or the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to and the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreement; (xiiixi) to pay the Trustee as set forth in Section 9.05; (xii) to remove amounts deposited in error; and (xivxiii) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viiiiv) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.04(c). (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Prime Mortgage Trust 2006-2), Pooling and Servicing Agreement (Prime Mortgage Trust 2007-1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Paying Agent will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xviii) of this Subsection 4.05 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, Servicer or the Company or a Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (viiv) to reimburse the Master Servicer, Servicer or the Company or a Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (viiv); (viiivi) to pay the Master Servicer as set forth in Section 4.143.14; (ixvii) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c3.03 and 7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (xviii) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiix) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiix) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiiixi) to remove amounts deposited in error; and (xivxii) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viiiiv) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee Paying Agent shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account for each Loan Group to the holders Holders of the Certificates in accordance with distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bankunited Trust 2005-1, Mortgage Pass-Through Certificates, Series 2005-1), Pooling and Servicing Agreement (Bankunited Trust 2005-1, Mortgage Pass-Through Certificates, Series 2005-1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee willSecurities Administrator shall, from time to time on demand of the Master Servicer time, withdraw or the Securities Administrator, make or cause to be made such withdrawals or transfers transfer funds from the Distribution Account as to a Servicer, to the Master Servicer has designated for such transfer Servicer, to the Trustee or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder itself for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own funds or of such Servicer’s own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation ProceedsProceeds and the Termination Price) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that receive under subclause (iviii) any amounts with respect to of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan were if paid as Excess Liquidation Proceeds pursuant in a timely manner by the related Mortgagor; (v) to clause pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (xviii) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for servicing related advances of funds pursuant to this Agreement or the related Servicing Agreementfunds, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such servicing advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in its monthly Master Servicing Fee and any investment income and other additional servicing compensation payable pursuant to Section 4.143.14; (ix) to reimburse the Master Servicer or the Securities Administrator for expenses, costs and liabilities incurred any expenses recoverable by and reimbursable to it the Master Servicer or the Securities Administrator pursuant to Sections 4.03, 8.04(c) 3.03 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement3.32; (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related such Servicer, to the extent provided herein and in the related Servicing Agreement; (xiixi) to reimburse the Trustee, the Custodian or Trustee and the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it from funds of the Trust Fund pursuant to this Agreement (Sections 3.31, 3.32 or 8.05, and to reimburse the Trustee for any fees, costs and expenses incurred by or reimbursable to it pursuant to Section 2.03(a), 7.01(b), 8.02, 8.05 or 8.07, to the extent not otherwise reimbursed from to it; (xii) to pay to the Master Servicer Collection all investment earnings on amounts on deposit in the Distribution Account in accordance with to what it is entitled under Section 5.064.02(c); (xiii) to reimburse the Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to Section 8.19; (xiv) to pay the Credit Risk Manager the Credit Risk Manager Fee; (xv) to reimburse the Administrator for expenses, costs and liabilities incurred by or reimbursable to it as a result of the performance of its duties under the Yield Maintenance Allocation Agreement and the Yield Maintenance Agreement pursuant to Section 8.19; (xvi) to remove amounts deposited in error; and (xivxvii) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) In addition, on or before the Business Day immediately preceding each Distribution Date, the Master Servicer shall deposit in the Distribution Account (or remit to the Securities Administrator for deposit therein) any Advances or Compensating Interest Payments, to the extent required to be made but not made by a Servicer and required to be made by the Master Servicer hereunder with respect to the Mortgage Loans. (c) The Securities Administrator or the Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement payments or reimbursements from the Distribution Account pursuant to subclauses (i) through (viviii), inclusive, inclusive and (viiixi) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (cd) In order to comply with its duties under the USA PATRIOT Act of 2001, the Securities Administrator shall obtain and verify certain information and documentation from the other parties hereto, including, but not limited to, each such party's name, address and other identifying information. (e) On each Distribution Date, the Trustee Securities Administrator, as Paying Agent, shall distribute the Available Funds to the extent of withdraw funds on deposit in the Distribution Account to the holders extent of the aggregate Available Funds and distribute such amounts to the Holders of the Certificates and any other parties entitled thereto in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (HarborView 2007-6), Pooling and Servicing Agreement (HarborView 2007-6)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on written demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation ProceedsSubsequent Recoveries) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation ProceedsSubsequent Recoveries) which represent late recoveries of the payments for which such advances were made; (viiv) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (viiv); (viiivi) to pay the Master Servicer as set forth in Section 4.143.14; (ixvii) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (xviii) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiix) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiix) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement Agreement; (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06); (xiiixi) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.06. (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively rely.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Prime Mortgage Trust, Mortgage Pass-Through Certificates & Re-Remic Certificates, Series 2005-1), Pooling and Servicing Agreement (Prime Mortgage Trust, Mortgage Pass-Through Certificates & Re-Remic Certificates, Series 2005-1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer (or with respect to clause (l) hereto, on demand of the Trustee, the Securities Administrator or the Securities AdministratorCustodian), make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder deems necessary for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (ia) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting with respect to which such Advance or Servicing Monthly Advance was made; (iib) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iiic) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (aSection 4.05(a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (ivd) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under clause (ix) of this Section 4.05(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (ve) [reserved]to pay the Master Servicer or any Servicer from the Repurchase Price for any Mortgage Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under clause (ix) of this Section 4.05(a) as servicing compensation; (vif) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause clause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (viig) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Nonrecoverable Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance that has not been reimbursed pursuant to clauses (i) and (vi); (viiih) to pay the Master Servicer as set forth in Section 4.143.14; (ixi) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (xj) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xik) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiil) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiiim) to remove amounts deposited in error; and (xivn) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (bo) The Master Servicer Securities Administrator shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basisbasis and shall provide a copy to the Securities Administrator, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses clauses (i) through (vi), inclusive, ) and (viii) or with respect to any such amounts which would have been covered by such subclauses clauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.04(b). Reimbursements made pursuant to clauses (vii), (ix), (xi) and (xii) will be allocated between the Loan Groups or Sub-Loan Groups, as applicable, pro rata based on the aggregate Stated Principal Balances of the Mortgage Loans in each Loan Group or Sub-Loan Group, as applicable. (cp) On each Distribution Date, the Trustee Securities Administrator shall distribute the Interest Funds, Principal Funds and Available Funds to the extent of funds on deposit in the Distribution Account for each Loan Group or Sub-Loan Group, as applicable, to the holders Holders of the related Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-1), Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-2, Mortgage Pass-Through Certificates, Series 2006-2)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Wells Master Servicer or the Securities Administrator, make or cause xx xxuse to be made such withdrawals or transfers from the Distribution Account as the Wells Master Servicer has designated for such transfer or withdrawal wixxxxxwal pursuant to this Agreement or any the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Wells Master Servicer to those not withdrawn from the Master Servicer Xxxxicer Collection Account in accordance with the terms of this Agreement; provided that , and in the Trustee shall case of amounts due the EMC Master Servicer to those not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this withdrawn from its Protected Account in accordance with Section 5.081.08 of Exhibit K): (i) to reimburse the Wells Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own fundsAdvance, the right xxx xight of the Wells Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant puxxxxxt to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance advance was made; (ii) to reimburse the Wells Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds Prxxxxxs or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Wells Master Servicer, the Company Servicer or the related such Servicer in good faith in connection xxxxection with the restoration of the related Mortgaged Property which was damaged not covered by an uninsured cause any Insurance Policy, including any hazard insurance or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Wells Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds Prxxxxxs relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Wells Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds Procxxxx from a particular Mortgage Loan for Liquidation Expenses liquidation expenses incurred with respect to such Mortgage Loan; provided that PROVIDED THAT the Wells Master -------- ---- Servicer shall not be entitled to entitlxx xx reimbursement for Liquidation Expenses liquidation expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (a) to the Wells Master Servicer; and (ii) such Liquidation Expenses were liquidation expensxx xxre not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Wells Master Servicer or any Servicer, as appropriate, xxxx Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Wells Master Servicer or any Servicer from the Purchase Xxxxe for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this subsection (a) as servicing compensation; (vi) to reimburse the Wells Master Servicer, the Company Servicer or a any Servicer for advances of funds unreimbursed Xxxxxcing Advances made pursuant to this Agreement or the related applicable Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances Servicing Advances were made; (vii) to reimburse the Wells Master Servicer, the Company Servicer or a any Servicer for any Advance unreimburxxx Xdvance or advanceany Servicing Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses clause (i) and or (vi); (viii) to pay the any Wells Master Servicer as set forth in Section 4.14Servicing Fee; (ix) to reimburse the Master eacx Xxxter Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c) 7.03 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement11.02, as applicable; (x) to pay to the Wells Master Servicer, as additional compensation, any Xxxxxs Liquidation Proceeds with respect to a Mortgage Loan other than an EMC Mortgage Loan to the extent not retained by the related Servicer and to pay to the EMC Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds with respect to the extent not retained by the Company or the related Serviceran EMC Mortgage Loan; (xi) to reimburse or pay the Company any Servicer or the related Wells Master Servicer any such amounts as are due thereto under this Agreement or therexx xxder the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Trustee or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Wells Master Servicer shall keep and maintain separate accountingaccouxxxxx, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vixii), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Wells Master Servicer without being deposited in the Distribution Distribxxxxx Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Available Interest Funds to the extent of funds on deposit and Principal Funds in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.04(a)(iii).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, Securities Administrator will from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to pay to the Trustee any expenses recoverable by the Trustee pursuant to this Agreement. (ii) to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer to reimbursement pursuant to this subclause (iii) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (iiiii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iiiiv) to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, Servicer as Successor Servicer or the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late recoveries of the payments for which such advances were made; (viivi) to reimburse the Master Servicer, Servicer as Successor Servicer or the Company or a Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (iii) and (viv); (vii) to pay the Credit Risk Management Fee to the Credit Risk Manager; provided, however, that upon the termination of the Credit Risk Manager pursuant to Section 3.33 hereof, the amount of the Credit Risk Management Fee (or any portion thereof) previously payable to the Credit Risk Manager as described herein shall be paid to the Sponsor; (viii) to pay the Master Servicer as set forth in Section 4.14; (ix) to reimburse the Master Servicer Trustee or the Securities Administrator for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and this Agreement (d) and 12.02 or otherwise reimbursable to it including the expenses of the Securities Administrator in connection with a tax audit in connection with the performance of its obligations pursuant to this AgreementSection 9.13); (xix) to pay to the Master ServicerTrust Fund, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xix) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and or therein; (xi) to reimburse the Trustee for expenses incurred in the related Servicing Agreementtransfer of servicing responsibilities of the terminated Servicer after the occurrence and continuance of a Servicer Default to the extent not paid by the terminated servicer; (xii) to reimburse the Trustee, Master Servicer for any costs and expenses reimbursable to the Master Servicer pursuant to this Agreement; (xiii) to reimburse the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to or the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreement; (xiiixiv) to remove amounts deposited in error; and (xivxv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer Securities Administrator shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (iii) through (viv), inclusive, and (viiivii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer Securities Administrator without being deposited in the Distribution Account under Section 5.063.31. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds Distribution Amount, to the extent of funds on deposit in the Distribution Account to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.04.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2006-He1), Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2006-He2)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, Securities Administrator will from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has are designated for such transfer or withdrawal pursuant to this Agreement or any and the GMACM Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company or the related Servicer for any unreimbursed Advance or Servicing Advance of its own fundsfunds pursuant to this Agreement or the GMACM Servicing Agreement, the such right of the Master Servicer, the Company or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for unreimbursed amounts expended by the Master Servicer, the Company or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured unreimbursed expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company or a Servicer for any Advance or advanceServicing Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses (i) and through (viiii); (viiiv) to pay the Master Servicer as set forth in Section 4.144.09; (ixvi) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.034.02, 8.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (xvii) to pay to the Master Servicer, as additional master servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiviii) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related GMACM Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related GMACM Servicing Agreement; (xiiix) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.065.07); (xiiix) to remove amounts deposited in error; (xi) to make distributions to the Swap Administrator for payment to the Swap Provider as provided in this Agreement; and (xivxii) to clear and terminate the Distribution Account pursuant to Section 11.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (viiv), inclusive, and (viiivi) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.065.08. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds related Interest Remittance Amount and Principal Distribution Amount to the extent of funds on deposit in the Distribution Account to the holders of the related Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.04.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (SACO I Trust 2006-10), Pooling and Servicing Agreement (SACO I Trust 2006-10)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that PROVIDED THAT the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer (payment to any Servicer to be subject to prior payment to the Master Servicer of an amount equal to the Master Servicing Fee), as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer (payment to any Servicer to be subject to prior payment to the Master Servicer of the portion of the Master Servicing Fee which the Master Servicer is entitled to retain) from the Repurchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant to this Agreement or the related Servicing AgreementSections, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement12.03; (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Trustee or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; (xiv) to pay the Supplemental PMI Insurance Premium to the Supplemental PMI Insurer; and (xivxv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Group Available Funds for each Loan Group to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer or the Securities AdministratorServicer, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement or as the Securities Administrator has instructed hereunder Agreements for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith as a Servicing Advance in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03 (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant to this Agreement or the related Servicing AgreementSections, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to this Agreement, including but not limited to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Trustee or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.019.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds Distribution Amount for each Mortgage Group to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-Af1), Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-Af1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Paying Agent will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this the related Servicing Agreement or any Servicing this Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to reimburse the Master Servicer, the Company Servicer or the related Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Master Servicer's or Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a4.03(a) to the Master Servicer; , and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or the related Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which the Master Servicer or the related Servicer would have been entitled to receive under subclause (viii) of this Subsection 4.03(a) as servicing compensation on account of each defaulted Scheduled Payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or the related Servicer from the Repurchase Price for any Mortgage Loan, the amount which the Master Servicer or the related Servicer would have been entitled to receive under subclause (viii) of this Subsection 4.03(a) as servicing compensation; (vi) to reimburse the Master Servicer, Servicer or the Company or a related Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreementfunds, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, Servicer or the Company or a related Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan Loan, if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related a Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related such Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse or pay the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for fees, expenses, costs and liabilities incurred by and reimbursable or reimbursable payable to it pursuant to this Agreement (and not otherwise reimbursable or payable to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)it; (xiii) to remove amounts deposited in error; and; (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01; and (xv) on the first Distribution Date, to withdraw an amount equal to the First Distribution Date Distribution Amount from the Distribution Account and distribute such amount to the holders of the Class X Certificates, pro rata. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vivii), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.06x). (c) On each Distribution Date, the Trustee Paying Agent shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account for each Loan Group to the holders Holders of the Certificates in accordance with distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Ii Trust Series 2004-Ar2), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Ii Inc)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer or the Securities Administrator has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Servicer’s own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or the Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or the Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03 (a) as servicing compensation; (vi) to reimburse the Master Servicer, Servicer or the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing AgreementSections, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, Servicer or the Company or a Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to this Agreement, including but not limited to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Trustee or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates as instructed by the Master Servicer or the Securities Administrator in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-A5), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-A5)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the GreenPoint Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting with respect to which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (aSection 4.03(a) to the Master Servicer; Servicer and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or the Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or the Servicer would have been entitled to receive under clause (ix) of this Section 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or the Servicer from the Repurchase Price for any Mortgage Loan, the amount which it or the Servicer would have been entitled to receive under clause (ix) of this Section 4.03(a) as servicing compensation; (vi) to reimburse the Master Servicer, Servicer or the Company or a Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause clause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, Servicer or the Company or a Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi) of this Section 4.03(a); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related GreenPoint Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related GreenPoint Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses clauses (i) through (vi), inclusive, ) and (viii) or with respect to any such amounts which would have been covered by such subclauses clauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Available Interest Funds and Principal Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns BSALTA 2005-1), Pooling and Servicing Agreement (Bear Stearns BSALTA 2004-13)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Paying Agent will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this the related Servicing Agreement or any Servicing this Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to reimburse the Master Servicer, the Company Servicer or the related Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Master Servicer's or Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a4.03(a) to the Master Servicer; , and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or the related Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which the Master Servicer or the related Servicer would have been entitled to receive under subclause (xi) of this Subsection 4.03(a) as servicing compensation on account of each defaulted Scheduled Payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or the related Servicer from the Repurchase Price for any Mortgage Loan, the amount which the Master Servicer or the related Servicer would have been entitled to receive under subclause (xi) of this Subsection 4.03(a) as servicing compensation; (vi) to reimburse the Master Servicer, Servicer or the Company or a related Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreementfunds, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, Servicer or the Company or a related Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan Loan, if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and 7.04 (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related a Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related such Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse or pay the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for fees, expenses, costs and liabilities incurred by and reimbursable or reimbursable payable to it pursuant to this Agreement (and not otherwise reimbursable or payable to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)it; (xiii) to remove amounts deposited in error; and; (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01; and (xv) on the first Distribution Date, to withdraw an amount equal to the Class X-1 Payment and the Class X-2 Payment from the Distribution Account and distribute such amount to the holders of the Class X-1 Certificates and the Class X-2 Certificates, respectively. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vivii), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.06x). (c) On each Distribution Date, the Trustee Paying Agent shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account for each Loan Group to the holders Holders of the Certificates in accordance with distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2004-Ar8), Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2004-Ar8)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Master Servicer will, from time to time on demand of the Master Servicer or a Servicer, the Securities Administrator, or for its own account as set forth below, make or cause to be made such withdrawals or transfers from the Distribution Account Account, in the case of a demand by a Servicer, as the Master applicable Servicer has designated for such transfer or withdrawal pursuant to this Agreement the applicable Servicing Agreement, or any Servicing Agreement or in the case of a demand by the Securities Administrator as the Securities Administrator has instructed hereunder demanded pursuant hereto, or as the Master Servicer has determined to be appropriate in accordance herewith, for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own funds or of such Servicer’s own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that receive under subclause (iviii) any amounts with respect to of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan were if paid as Excess Liquidation Proceeds pursuant in a timely manner by the related Mortgagor; (v) to clause pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (xviii) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for servicing related advances of funds pursuant to this Agreement or the related Servicing Agreementfunds, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such servicing advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in its monthly Master Servicing Fee and any investment income and other additional servicing compensation payable pursuant to Section 4.143.14; (ix) to reimburse the Master Servicer or the Securities Administrator for expenses, costs and liabilities incurred any expenses recoverable by and reimbursable to it the Master Servicer or the Securities Administrator pursuant to Sections 4.03, 8.04(c) 3.03 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement3.31; (x) to pay to the Master Xxxxxxxxx, as a Servicer, as additional servicing compensationany Prepayment Penalty Amounts and any earnings payable pursuant to Section 4.02(c), any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) and to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiixi) to reimburse the Trustee, the Custodian or Trustee and the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it from funds of the Trust pursuant to this Agreement Sections 3.30, 3.31 or 8.05 (including those related to the Custodian, to the extent not paid by Xxxxxxxxx), and to reimburse the Trustee for any fees, costs and expenses costs incurred by or reimbursable to it pursuant to Section 2.03(a), 7.01(b), 8.02, 8.05 or 8.07, to the extent not otherwise reimbursed from to it; (xii) to make distributions of Retained Interest to the Master Servicer Collection Retained Interest Holder on each Distribution Date; (xiii) to pay to Xxxxxxxxx (in its capacity as a Servicer) all investment earnings on amounts on deposit in the Distribution Account in accordance with to which it is entitled under Section 5.064.02(c); (xiiixiv) to remove amounts deposited in error; and (xivxv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) In addition, on or before the Business Day immediately preceding each Distribution Date, the Master Servicer shall deposit in the Distribution Account (or remit to the Securities Administrator for deposit therein) any Advances or Compensating Interest Payments, to the extent required but not made by the related Servicer and required to be made by the Master Servicer with respect to the Mortgage Loans. (c) The Securities Administrator or the Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement payments or reimbursements from the Distribution Account pursuant to subclauses (i) through (vivii), inclusive, (ix) and (viiix) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (cd) In order to comply with its duties under the USA PATRIOT Act of 2001, the Securities Administrator shall obtain and verify certain information and documentation from the other parties hereto, including, but not limited to, each such party's name, address and other identifying information. (e) On each Distribution Date, the Trustee Securities Administrator shall distribute the aggregate Available Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2007-5), Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2007-4)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Master Servicer will, from time to time on demand of the Master Servicer or Servicer, the Securities Administrator, or for its own account as set forth below, make or cause to be made such withdrawals or transfers from the Distribution Account Account, in the case of a demand by the Servicer, as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement the Servicing Agreement, or any Servicing Agreement or in the case of a demand by the Securities Administrator as the Securities Administrator has instructed hereunder demanded pursuant hereto, or as the Master Servicer has determined to be appropriate in accordance herewith, for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to reimburse the Master Servicer, the Company Servicer or the related Servicer for any Advance or Servicing Advance of its own funds or of the Servicer’s own funds, the right of the Master Servicer, the Company Servicer or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or the Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which the Master Servicer or the Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that receive under subclause (iviii) any amounts with respect to of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan were if paid as Excess Liquidation Proceeds pursuant in a timely manner by the related Mortgagor; (v) to clause pay the Master Servicer or the Servicer from the Purchase Price for any Mortgage Loan, the amount which it or the Servicer would have been entitled to receive under subclause (xviii) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]as servicing compensation; (vi) to reimburse the Master Servicer, Servicer or the Company or a Servicer for servicing related advances of funds pursuant to this Agreement or the related Servicing Agreementfunds, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such servicing advances were made; (vii) to reimburse the Master Servicer, Servicer or the Company or a Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in its monthly Master Servicing Fee and any investment income and other additional servicing compensation payable pursuant to Section 4.143.14; (ix) to reimburse the Master Servicer or the Securities Administrator for expenses, costs and liabilities incurred any expenses recoverable by and reimbursable to it the Master Servicer or the Securities Administrator pursuant to Sections 4.03, 8.04(c) 3.03 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement3.31; (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiixi) to reimburse the Trustee, the Custodian or Trustee and the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it from funds of the Trust Fund pursuant to this Agreement (Sections 3.30, 3.31 or 8.05, and to reimburse the Trustee for any fees, costs and expenses costs incurred by or reimbursable to it pursuant to Section 2.03(a), 7.01(b), 8.02, 8.05 or 8.07, to the extent not otherwise reimbursed from to it; (xii) to pay to the Master Servicer Collection all investment earnings on amounts on deposit in the Distribution Account in accordance with to what it is entitled under Section 5.064.02(k); (xiii) to pay the Certificate Insurer its Aggregate Premium Amount; (xiv) to pay the Credit Risk Manager the Credit Risk Manager Fee; (xv) to remove amounts deposited in error; and (xivxvi) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) In addition, on or before the Business Day immediately preceding each Distribution Date, the Master Servicer shall deposit in the Distribution Account (or remit to the Securities Administrator for deposit therein) any Advances or Compensating Interest Payments, to the extent required but not made by the Servicer and required to be made by the Master Servicer with respect to the Mortgage Loans. (c) The Securities Administrator or the Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement payments or reimbursements from the Distribution Account pursuant to subclauses (i) through (vivii), inclusive, (ix) and (viiix) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (cd) In order to comply with its duties under the USA PATRIOT Act of 2001, the Securities Administrator shall obtain and verify certain information and documentation from the other parties hereto, including, but not limited to, each such party's name, address and other identifying information. (e) On each Distribution Date, the Trustee Securities Administrator shall distribute the aggregate Available Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Dsla Mortgage Loan Trust 2006-Ar1), Pooling and Servicing Agreement (Dsla Mortgage Loan Trust 2006-Ar1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, Securities Administrator will from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to pay to the Trustee any expenses recoverable by the Trustee pursuant to this Agreement. (ii) to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer to reimbursement pursuant to this subclause (iii) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (iiiii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iiiiv) to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, Servicer as Successor Servicer or the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late recoveries of the payments for which such advances were made; (viivi) to reimburse the Master Servicer, Servicer as Successor Servicer or the Company or a Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (iii) and (viv); (vii) to pay the PMI Insurer Fee to the PMI Insurer and to pay the Credit Risk Management Fee to the Credit Risk Manager; provided, however, that upon the termination of the Credit Risk Manager pursuant to Section 3.33 hereof, the amount of the Credit Risk Management Fee (or any portion thereof) previously payable to the Credit Risk Manager as described herein shall be paid to the Sponsor; (viii) to pay the Master Servicer as set forth in Section 4.14; (ix) to reimburse the Master Servicer Trustee or the Securities Administrator for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and this Agreement (d) and 12.02 or otherwise reimbursable to it including the expenses of the Securities Administrator in connection with a tax audit in connection with the performance of its obligations pursuant to this AgreementSection 9.13); (xix) to pay to the Master ServicerTrust Fund, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xix) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and or therein; (xi) to reimburse the Trustee for expenses incurred in the related Servicing Agreementtransfer of servicing responsibilities of the terminated Servicer after the occurrence and continuance of a Servicer Default to the extent not paid by the terminated Servicer; (xii) to reimburse the Trustee, Master Servicer for any costs and expenses reimbursable to the Master Servicer pursuant to this Agreement; (xiii) to reimburse the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to or the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreement; (xiiixiv) to remove amounts deposited in error; and (xivxv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer Securities Administrator shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (iii) through (viv), inclusive, and (viiivii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer Securities Administrator without being deposited in the Distribution Account under Section 5.063.31. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds Distribution Amount, to the extent of funds on deposit in the Distribution Account after taking into account permitted withdrawals therefrom pursuant to clause (a) above, to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.04.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Wf1), Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Wf1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee willSecurities Administrator shall, from time to time on demand of the Master Servicer time, withdraw or the Securities Administrator, make or cause to be made such withdrawals or transfers transfer funds from the Distribution Account as to the Servicer, to the Master Servicer has designated for such transfer Servicer, to the Trustee, to the Certificate Insurer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder itself for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to reimburse the Master Servicer, the Company Servicer or the related Servicer for any Advance or Servicing Advance advance, respectively, of its own funds or of the Servicer’s own funds, the right of the Master Servicer, the Company Servicer or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or the Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or the Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause receive under subclause (x) of this Subsection (a4.03(a) to as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]related Mortgagor; (v) [reserved]to pay the Master Servicer or the Servicer from the Purchase Price for any Mortgage Loan, the amount which the Master Servicer or the Servicer would have been entitled to receive under subclause (x) of this Subsection 4.03(a) as servicing compensation; (vi) to reimburse the Master Servicer, Servicer or the Company or a Servicer for servicing related advances of funds pursuant to this Agreement or the related Servicing Agreementfunds, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such servicing advances were made; (vii) to reimburse the Master Servicer, Servicer or the Company or a Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and (vi)) as a result of the Master Servicer or Servicer having determined that the Advance or advance is non-recoverable from the related Mortgage Loan; (viii) to pay the Master Servicer as set forth in its monthly Master Servicing Fee and any other servicing compensation payable pursuant to Section 4.143.18; (ix) to pay the Master Servicer any investment income; (x) to reimburse the Master Servicer for expenses, costs and liabilities incurred any expenses recoverable by and reimbursable to it pursuant to Sections 4.03, 8.04(c) 3.09 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer3.22; (xi) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian or Trustee and the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement Sections 3.22, 8.05 or 8.10 (including those related to the extent not reimbursed from fees and expenses of the Master Servicer Collection Account in accordance with Section 5.06Custodian); (xiii) to remove amounts deposited in error; (xiv) to pay the Certificate Insurer its Premium Amount; and (xivxv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement payments or reimbursements from the Distribution Account pursuant to subclauses (i) through (vivii), inclusive, inclusive and subclause (viiix) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee Securities Administrator, as Paying Agent, shall distribute the Available Funds to the extent of withdraw funds on deposit in the Distribution Account to the holders extent of the aggregate Available Funds and distribute such funds to the Holders of the Certificates and any other parties entitled thereto, in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Dsla Mortgage Loan Trust 2005-Ar5), Pooling and Servicing Agreement (DSLA Mortgage Loan Trust 2005-Ar6)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has are designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):: (i) to reimburse the Master Servicer, the Company or the related Servicer for any unreimbursed Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for unreimbursed amounts expended by the Master Servicer, the Company or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured unreimbursed expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company or a Servicer for any Advance or advanceServicing Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses clause (i) and (vi); (viiiv) to pay the Master Servicer as set forth in Section 4.144.09; (ixvi) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.034.02, 8.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (xvii) to pay to the Master Servicer, as additional master servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiviii) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related First Horizon Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and or in the related First Horizon Servicing Agreement, as applicable; (xiiix) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.065.07); (xiiix) to remove amounts deposited in error; and (xivxi) to clear and terminate the Distribution Account pursuant to Section 11.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (viiv), inclusive, and (viiivi) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.065.08. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds to the extent of funds on deposit Interest Remittance Amount and Principal Distribution Amount in the Distribution Account to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.04.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Saco I Trust 2005-8), Pooling and Servicing Agreement (Mortgage-Backed Certificates, Series 2005-7)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Repurchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03 (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant to this Agreement or the related Servicing AgreementSections, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Trustee or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Group Available Funds for each Loan Group to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Paying Agent will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this the related Servicing Agreement or any Servicing this Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to reimburse the Master Servicer, the Company Servicer or the related Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Master Servicer's or Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a4.03(a) to the Master Servicer; , and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or the related Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which the Master Servicer or the related Servicer would have been entitled to receive under subclause (viii) of this Subsection 4.03(a) as servicing compensation on account of each defaulted Scheduled Payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or the related Servicer from the Repurchase Price for any Mortgage Loan, the amount which the Master Servicer or the related Servicer would have been entitled to receive under subclause (viii) of this Subsection 4.03(a) as servicing compensation; (vi) to reimburse the Master Servicer, Servicer or the Company or a related Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreementfunds, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, Servicer or the Company or a related Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan Loan, if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related a Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related such Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse or pay the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for fees, expenses, costs and liabilities incurred by and reimbursable or reimbursable payable to it pursuant to this Agreement (and not otherwise reimbursable or payable to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)it; (xiii) to remove amounts deposited in error; and; (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01; (xv) on the first Distribution Date, to withdraw an amount equal to the Deposit Amount from the Distribution Account and distribute such amount to the holders of the Class R-I, Class R-II and Class R-III Certificates, pro rata, until their respective Current Principal Amounts have been reduced to zero; and (xvi) on the first Distribution Date, to withdraw an amount equal to the First Distribution Date Distribution Amount from the Distribution Account and distribute such amount to the holders of the Class I-X Certificates. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vivii), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.06x). (c) On each Distribution Date, the Trustee Paying Agent shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account for each Loan Group and Loan Subgroup, as the case may be, to the holders Holders of the related Certificates in accordance with distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Series 2004-Ar5), Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Series 2004-Ar5)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer (or with respect to clause (l) hereto, on demand of the Trustee, the Securities Administrator or the Securities AdministratorCustodian), make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder deems necessary for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (ia) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting with respect to which such Advance or Servicing Monthly Advance was made; (iib) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iiic) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (aSection 4.05(a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (ivd) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under clause (ix) of this Section 4.05(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (ve) [reserved]to pay the Master Servicer or any Servicer from the Repurchase Price for any Mortgage Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under clause (ix) of this Section 4.05(a) as servicing compensation; (vif) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause clause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (viig) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Nonrecoverable Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance that has not been reimbursed pursuant to clauses (i) and (vi); (viiih) to pay the Master Servicer as set forth in Section 4.14; 3.14; (ixi) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06); (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.06. (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively rely.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-4), Pooling and Servicing Agreement (Bear Stearns ALT-A Trust 2006-3)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer or the Securities Administrator has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03 (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant to this Agreement or the related Servicing AgreementSections, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to this Agreement, including but not limited to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Trustee or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates as instructed by the Master Servicer or the Securities Administrator in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Merrilll Lynch Mortgage Investors Trust, Series 2005-A10), Pooling and Servicing Agreement (Merrilll Lynch Mortgage Investors Trust, Series 2005-A10)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Paying Agent will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that , and in the Trustee shall case of amounts due the EMC Servicer or any other Servicer to those not be responsible for such determination and may rely on withdrawn from its Protected Account in accordance with the Master Servicer's or the Securities Administrator's instructions under this Section 5.08related Servicing Agreement): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own fundsAdvance, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged not covered by an uninsured cause any Insurance Policy, including any hazard insurance or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses liquidation expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses liquidation expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses liquidation expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (xi) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (xi) of this subsection (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds unreimbursed Servicing Advances made pursuant to this Agreement or the related applicable Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company or a Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06); (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.06. (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively rely.Liquidation

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bears Stearns Asset Backed Securities Trust 2005-Sd2), Pooling and Servicing Agreement (Bears Stearns Asset Backed Securities Trust 2005-Sd2)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee willSecurities Administrator shall, from time to time on demand of the Master Servicer time, withdraw or the Securities Administrator, make or cause to be made such withdrawals or transfers transfer funds from the Distribution Account as to a Servicer, to the Master Servicer has designated for such transfer Servicer, to the Trustee or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder itself for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance advance, respectively, of its own funds or of such Servicer’s own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause receive under subclause (x) of this Subsection (a4.03(a) to as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under subclause (x) of this Subsection 4.03(a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for servicing related advances of funds pursuant to this Agreement or the related Servicing Agreementfunds, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such servicing advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in its monthly Master Servicing Fee and any other servicing compensation payable pursuant to Section 4.143.14; (ix) to pay the Master Servicer any investment income; (x) to reimburse the Master Servicer for expenses, costs and liabilities incurred any expenses recoverable by and reimbursable to it pursuant to Sections 4.03, 8.04(c) 3.03 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer3.27; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian or Trustee and the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement Sections 3.27, 8.05 or 8.10 (including those related to the extent not reimbursed from fees and expenses of the Master Servicer Collection Account in accordance with Section 5.06Custodian); (xiii) to remove amounts deposited in error; and; (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01; and (xv) pursuant to the related Servicing Agreement, at such time as WaMu determines in good faith, and submits documentary support to the Master Servicer, which is the basis of such determination, that the future payments and other proceeds that can reasonably be expected to be received from the Mortgage Loans serviced by WaMu will not be sufficient to reimburse WaMu for unreimbursed expenses, servicing advances and non-recoverable advances which have been made by WaMu in respect of the Mortgage Loans serviced by WaMu and for which WaMu is entitled to be reimbursed in accordance with the terms of the related Servicing Agreement, to reimburse WaMu for such amounts. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement payments or reimbursements from the Distribution Account pursuant to subclauses (i) through (vivii), inclusive, inclusive and subclause (viiix) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively rely.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2004-8), Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2004-8)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer or the Securities Administratortime, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to pay to the Trustee any expenses recoverable by the Trustee pursuant to this Agreement. (ii) to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer to reimbursement pursuant to this subclause (iii) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (iiiii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iiiiv) to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, Servicer as Successor Servicer or the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late recoveries of the payments for which such advances were made; (viivi) to reimburse the Master Servicer, Servicer as Successor Servicer or the Company or a Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (iii) and (viv); (vii) to pay the Credit Risk Management Fee to the Credit Risk Manager; provided, however, that upon the termination of the Credit Risk Manager pursuant to Section 3.33 hereof, the amount of the Credit Risk Management Fee (or any portion thereof) previously payable to the Credit Risk Manager as described herein shall be paid to the Sponsor; (viii) to pay the Master Servicer as set forth in Section 4.14; (ix) to reimburse the Master Servicer Trustee or the Securities Administrator for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and this Agreement (d) and 12.02 including the expenses of the Trustee or otherwise reimbursable to it the Securities Administrator in connection with a tax audit in connection with the performance of its obligations pursuant to this AgreementSection 9.13); (xix) to pay to the Master ServicerTrust Fund, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xix) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and or therein; (xi) to reimburse the Trustee for expenses incurred in the related Servicing Agreementtransfer of servicing responsibilities of the terminated Servicer after the occurrence and continuance of a Servicer Default to the extent not paid by the terminated Servicer; (xii) to reimburse the Trustee, Master Servicer for any costs and expenses reimbursable to the Master Servicer pursuant to this Agreement; (xiii) to reimburse the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to or the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreement; (xiiixiv) to remove amounts deposited in error; and (xivxv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer Securities Administrator shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (iii) through (viv), inclusive, and (viiivii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer Securities Administrator without being deposited in the Distribution Account under Section 5.063.31. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds Distribution Amount, to the extent of funds on deposit in the Distribution Account Account, to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.04.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2006-Ap1), Pooling and Servicing Agreement (Nomura Asset Acceptance Corp)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.085.09): (i) to reimburse the Master Servicer, the Company or the related Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (viiv) to reimburse the Master Servicer, the Company or a Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viiivi) to pay the Master Servicer as set forth in Section 4.14; (ixvii) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (xviii) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiix) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiix) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.065.07); (xiiixi) to remove amounts deposited in error; and (xivxii) to clear and terminate the Distribution Account pursuant to Section 11.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (viiv), inclusive, and (viiivi) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.065.07. (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively rely.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-Ac7), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Ac1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer or the Securities AdministratorServicer, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder deems necessary for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting with respect to which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (aSection 4.05(a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under clause (ix) of this Section 4.05(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Repurchase Price for any Mortgage Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under clause (ix) of this Section 4.05(a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause clause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Nonrecoverable Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance that has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basisbasis and shall provide a copy to the Securities Administrator, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses clauses (i) through (vi), inclusive, ) and (viii) or with respect to any such amounts which would have been covered by such subclauses clauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). Reimbursements made pursuant to clauses (vii), (ix), (xi) and (xii) will be allocated between the Loan Groups or Sub-Loan Groups, as applicable, pro rata based on the aggregate Stated Principal Balances of the Mortgage Loans in each Loan Group or Sub-Loan Group, as applicable. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Interest Funds, Principal Funds and Available Funds to the extent of funds on deposit in the Distribution Account for each Loan Group or Sub-Loan Group, as applicable, to the holders Holders of the related Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns ALT-A Trust, Series 2005-7), Pooling and Servicing Agreement (Bear Stearns ALT-A Trust, Series 2005-9)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer or the Securities Administrator has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds or any advance of such Servicer’s own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Monthly Advance or Servicing Advance advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03 (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant to this Agreement or the related Servicing AgreementSections, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to this Agreement, including but not limited to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related such Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Trustee or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.019.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Available Interest Funds and Principal Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates as instructed by the Master Servicer or the Securities Administrator in accordance with the Remittance Report upon which the Trustee may conclusively relySection 9.07.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-A6)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee willSecurities Administrator shall, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement or as the Securities Administrator has instructed hereunder Agreements for the following purposes (limited purposes, not in the case any order of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):priority: (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Loan, the amount which the Master Servicer or such Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that receive under subclause (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xvii) of this Subsection (a) to as servicing compensation on account of each defaulted scheduled payment on such Loan if paid in a timely manner by the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Loan, the amount which the Master Servicer or such Servicer would have been entitled to receive under subclause (vii) of this Subsection (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company or a any Servicer for any Advance or advanceNonrecoverable Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses clause (i) and (vi); (viiivii) to pay the Master Servicing Fee and any and all other Master Servicing Compensation to the Master Servicer, the Servicing Fee to the Servicers (to the extent such Servicing Fee was not retained by the Servicer as set forth in Section 4.14; (ixpursuant to the related Servicing Agreement) and to reimburse the a Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.3, 8.04(c) 6.3, 8.5 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement;10.1. (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiviii) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related such Servicer, to the extent provided herein and in the related Servicing Agreement; (xiiix) to reimburse the Trustee, the Custodian or and the Securities Administrator for expenses, costs and liabilities liabilities, if any, incurred by or reimbursable to it such parties pursuant to this Agreement (to or the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreement; (xiiix) to remove amounts deposited in error; and (xivxi) to clear and terminate the Distribution Account pursuant to Section 11.019.1. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.063.23(b). (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the related Available Funds Distribution Amount to the extent of funds on deposit in the Distribution Account to the holders Holders of the related Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 4.1.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2005-Ar2)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, Securities Administrator will from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to pay to the Trustee any expenses recoverable by the Trustee pursuant to this Agreement. (ii) to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related any Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Servicer as Successor Servicer or the related a Servicer to reimbursement pursuant to this subclause (iii) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (iiiii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iiiiv) to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, Servicer as Successor Servicer or the Company or a related Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late recoveries of the payments for which such advances were made; (viivi) to reimburse the Master Servicer, Servicer as Successor Servicer or the Company or a related Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (iii) and (viv); (vii) to pay the Credit Risk Management Fee to the Credit Risk Manager; provided, however, that upon the termination of the Credit Risk Manager pursuant to Section 3.33 hereof, the amount of the Credit Risk Management Fee (or any portion thereof) previously payable to the Credit Risk Manager as described herein shall be paid to the Seller; (viii) to pay the Master Servicer as set forth in Section 4.14; (ix) to reimburse the Master Servicer Trustee or the Securities Administrator for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and this Agreement (d) and 12.02 or otherwise reimbursable to it including the expenses of the Securities Administrator in connection with a tax audit in connection with the performance of its obligations pursuant to this AgreementSection 9.13); (xix) to pay to the Master ServicerTrust Fund, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xix) to reimburse or pay the Company or the related each Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related such Servicer, to the extent provided herein and or therein; (xi) to reimburse the Trustee for expenses incurred in the related Servicing Agreementtransfer of servicing responsibilities of any terminated servicer after the occurrence and continuance of a Servicer Default to the extent not paid by the terminated servicer; (xii) to reimburse the Trustee, Master Servicer for any costs and expenses reimbursable to the Master Servicer pursuant to this Agreement; (xiii) to reimburse the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to or the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreements; (xiiixiv) to remove amounts deposited in error; (xv) to pay the PMI Insurer the PMI Insurer Fee for each PMI Mortgage Loan; and (xivxvi) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer Securities Administrator shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (iii) through (viv), inclusive, and (viiivii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer Securities Administrator without being deposited in the Distribution Account under Section 5.063.31. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds Distribution Amount, to the extent of funds on deposit in the Distribution Account to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.04.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Home Equity Loan Trust, Series 2005-He1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer or the Securities AdministratorServicer, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee Securities Administrator shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's ’s instructions under this Section 5.085.09): (i) to reimburse the Master Servicer, the Company or the related Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (viiv) to reimburse the Master Servicer, the Company or a Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and through (viiv); (viiivi) to pay the Master Servicer as set forth in Section 4.14; (ixvii) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; (xviii) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiix) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiix) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.065.07); (xiiixi) to remove amounts deposited in error; and (xivxii) to clear and terminate the Distribution Account pursuant to Section 11.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (viiv), inclusive, and (viiivi) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.065.08. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the related Certificates in accordance with the Remittance Report upon which the Trustee Securities Administrator may conclusively rely.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Ac8)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, Securities Administrator will from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to pay to the Trustee any expenses recoverable by the Trustee pursuant to this Agreement. (ii) to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related any Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer to reimbursement pursuant to this subclause (iii) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (iiiii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iiiiv) to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer as Successor Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, Servicer as Successor Servicer or the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late recoveries of the payments for which such advances were made; (viivi) to reimburse the Master Servicer, Servicer as Successor Servicer or the Company or a Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (iii) and (viv); (vii) to pay the Credit Risk Management Fee to the Credit Risk Manager; provided, however, that upon the termination of the Credit Risk Manager pursuant to Section 3.33 hereof, the amount of the Credit Risk Management Fee (or any portion thereof) previously payable to the Credit Risk Manager as described herein shall be paid to the Sponsor; (viii) to pay the Master Servicer as set forth in Section 4.14; (ix) to reimburse the Master Servicer Trustee or the Securities Administrator for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and this Agreement (d) and 12.02 or otherwise reimbursable to it including the expenses of the Securities Administrator in connection with a tax audit in connection with the performance of its obligations pursuant to this AgreementSection 9.13); (xix) to pay to the Master ServicerTrust Fund, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xix) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and or therein; (xi) to reimburse the Trustee for expenses incurred in the related Servicing Agreementtransfer of servicing responsibilities of any terminated servicer after the occurrence and continuance of a Servicer Default to the extent not paid by the terminated servicer; (xii) to reimburse the Trustee, Master Servicer for any costs and expenses reimbursable to the Master Servicer pursuant to this Agreement; (xiii) to reimburse the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to or the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreements; (xiiixiv) to remove amounts deposited in error; and (xivxv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer Securities Administrator shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (iii) through (viv), inclusive, and (viiivii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer Securities Administrator without being deposited in the Distribution Account under Section 5.063.31. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds Distribution Amount, to the extent of funds on deposit in the Distribution Account to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.04.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc.)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Paying Agent will, from time to time on written demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation ProceedsSubsequent Recoveries) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, Servicer or the Company or a Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation ProceedsSubsequent Recoveries) which represent late recoveries of the payments for which such advances were made; (viiv) to reimburse the Master Servicer, Servicer or the Company or a Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (viiv); (viiivi) to pay the Master Servicer as set forth in Section 4.143.14; (ixvii) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (xviii) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiix) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiix) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to and the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreement; (xiiixi) to remove amounts deposited in error; and (xivxii) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viiiiv) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee Paying Agent shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with written distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than two Business Days prior to such Distribution Date and determined by the Trustee may conclusively relySecurities Administrator in accordance with Section 6.01.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Prime Mortgage Trust, Mortgage Pass-Through Certificates, Series 2005-3)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee willSecurities Administrator shall, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement or as the Securities Administrator has instructed hereunder Agreements for the following purposes (limited purposes, not in the case any order of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):priority: (i) to reimburse the Master Servicer, the Company any Interim Servicer or the related any Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company an Interim Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company any Interim Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company such Interim Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company any Interim Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company such Interim Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer, any Interim Servicer shall not be or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Loan, the amount which it, such Interim Servicer or such Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that receive under subclause (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xvii) of this Subsection (a) to as servicing compensation on account of each defaulted scheduled payment on such Loan if paid in a timely manner by the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]related Mortgagor; (v) [reserved]to pay the Master Servicer, any Interim Servicer or any Servicer from the Purchase Price for any Loan, the amount which it, such Interim Servicer or such Servicer would have been entitled to receive under subclause (vii) of this Subsection (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company any Interim Servicer or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company or a any Servicer for any Advance or advanceNonrecoverable Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses clause (i) and (vi); (viiivii) to pay the Master Servicing Fee and any and all other Master Servicing Compensation to the Master Servicer, the Servicing Fee to the Interim Servicers and the Servicers (to the extent such Servicing Fee was not retained by the Interim Servicer as set forth in Section 4.14; (ix) or the Servicer pursuant to the related Servicing Agreement), the Credit Risk Management Fee to the Credit Risk Manager for such Distribution Date and to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.3, 8.04(c) 6.3; 8.5 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement;10.1. (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiviii) to reimburse or pay the Company any Interim Servicer or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company Interim Servicer or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiiix) to reimburse the Trustee, the Custodian or and the Securities Administrator for expenses, costs and liabilities liabilities, if any, incurred by or reimbursable to it such parties pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiiix) to remove amounts deposited in error; and (xivxi) to clear and terminate the Distribution Account pursuant to Section 11.019.1. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.063.23(b). (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Group I Available Funds Distribution Amount and Group II Available Distribution Amount to the extent of funds on deposit in the Distribution Account to the holders Holders of the Group I Senior, Group II Senior and Subordinate Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 4.1.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2005-2)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities AdministratorServicer, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder Trustee deems necessary for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Custodial Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company or the related Servicer for any Advance or Servicing Monthly Advance of its own funds, the provided, however, that such right of the Master Servicer, the Company or the related Servicer to reimbursement pursuant to this subclause clause (i) being shall be limited to (1) amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation ProceedsSubsequent Recoveries) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting with respect to which such Advance or Servicing Monthly Advance was mademade and (2) to the extent of Amounts Held for Future Distribution; provided, further, that any such Amounts Held for Future Distribution so applied to reimburse the Servicer shall be replaced by the Servicer by deposit in the Distribution Account no later than the close of business on the Distribution Account Deposit Date immediately preceding the Distribution Date on which such funds are required to be distributed pursuant to this Agreement; (ii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (aSection 4.04(a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation ProceedsProceeds and (iii) Liquidation Expenses exceed the Amount Held for Future Distribution; (iv) [reserved]to pay the Servicer, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which the Servicer would have been entitled to receive under clause (ix) of this Section 4.04(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Servicer from the Repurchase Price for any Mortgage Loan, the amount which the Servicer would have been entitled to receive under clause (ix) of this Section 4.04(a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company or a Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans; provided, and the however, that such right to of reimbursement pursuant to this subclause being clause (vi) shall be limited to (1) amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation ProceedsSubsequent Recoveries) which represent late recoveries of the payments for which such advances were mademade and (2) to the extent of Amounts Held for Future Distribution; provided, further, that any such Amounts Held for Future Distribution so applied to reimburse the Servicer shall be replaced by the Servicer by deposit in the Distribution Account no later than the close of business on the Distribution Account Deposit Date immediately preceding the Distribution Date on which such funds are required to be distributed pursuant to this Agreement; (vii) to reimburse itself or the Master Servicer, the Company or a Servicer for any Nonrecoverable Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance that has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) 3.03 and (d) and 12.02 7.04 or otherwise reimbursable to it pursuant to this Agreement; (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related ServicerProceeds; (xi) to reimburse or pay the Company itself or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement Agreement; (xii) to pay the extent not reimbursed from the Master Servicer Collection Account Trustee Compensation set forth in accordance with Section 5.06)9.05; (xiii) to remove amounts deposited in error; and; (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01; and (xv) to pay to the Servicer any unreimbursed Monthly Advance or Servicing Advance made with respect to a Mortgage Loan for which a Servicing Modification was made and any unreimbursed Capitalization Reimbursement Amount. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basisbasis and shall provide a copy to the Trustee, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses clauses (i) through (vi), inclusive, ) and (viiivii) or with respect to any such amounts which would have been covered by such subclauses clauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.01(b). (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 6.01.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2007-Ar4)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Monthly Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection 4.03 (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Repurchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (ix) of this Subsection 4.03 (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in Section 4.143.14; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c7.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement); (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, the Trustee shall distribute the Available Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates and MBIA in accordance with distribution instructions provided to it by the Remittance Report upon which Securities Administrator no later than 11:00 a.m. (New York City Time) of the Trustee may conclusively relyday that is three Business Days prior to such Distribution Date and determined by the Securities Administrator in accordance with Section 6.01.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Mort Inv Inc Mort Pass THR Certs Ser 2003-1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) On an ongoing basis, Trustee to pay any expenses recoverable by the Trustee pursuant to this Agreement. (ii) to reimburse the Master Servicer, the Company Trustee as Successor Servicer or the related Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Trustee as Successor Servicer or the related Servicer to reimbursement pursuant to this subclause (iii) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (iiiii) to reimburse the Master Servicer, the Company Trustee or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Trustee as Successor Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause or in connection with the liquidation of such Mortgage Loan; (iiiiv) to reimburse the Master Servicer, the Company Trustee as Successor Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Trustee as Successor Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (x) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi) to reimburse the Master Servicer, Trustee as Successor Servicer or the Company or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and Liquidation Proceedscondemnation proceeds) which represent late recoveries of the payments for which such advances were made; (viivi) to reimburse the Master Servicer, Trustee as Successor Servicer or the Company or a Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (iii) and (viv); (vii) to pay the Credit Risk Management Fee to the Credit Risk Manager; provided, however, that upon the termination of the Credit Risk Manager pursuant to Section 4.08(b) hereof, the amount of the Credit Risk Management Fee (or any portion thereof) with respect to the Mortgage Loans previously payable to the Credit Risk Manager as described herein shall be paid to the Seller; (viii) to pay the Master Servicer as set forth in Section 4.14; (ix) to reimburse the Master Servicer Trustee for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and this Agreement (d) and 12.02 or otherwise reimbursable to it including the expenses of the Trustee in connection with a tax audit in connection with the performance of its obligations pursuant to this AgreementSection 9.12); (xix) to pay to the Master ServicerTrust Fund, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xix) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and herein; (xi) to reimburse the Trustee for expenses incurred in the related Servicing Agreementtransfer of servicing responsibilities of a Servicer after the occurrence and continuance of a Servicer Default to the extent not paid by the terminated Servicer; (xii) after the occurrence of an event of default under the Advance Facility, to reimburse any Advance Financing Person for any Advances or Servicing Advances made by such Advance Financing Person pursuant to Section 5.01(b) and not reimbursed to such Advance Financing Person pursuant to Section 4.02; (xiii) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiiixiv) to remove amounts deposited in error; and (xivxv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer Trustee shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (iii) through (viv), inclusive, and (viiivii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer Trustee without being deposited in the Distribution Account under Section 5.064.07. (c) On each Distribution Date, the Trustee shall distribute the Group I Available Funds to the extent of funds on deposit and Group II Available Funds in the Distribution Account to the holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.04.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corp)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Master Servicer will, from time to time on demand of the Master Servicer or a Servicer, the Securities AdministratorAdministrator or for its own account as set forth below, make or cause to be made such withdrawals or transfers from the Distribution Account Account, in the case of a demand by a Servicer, as the Master applicable Servicer has designated for such transfer or withdrawal pursuant to this Agreement the applicable Servicing Agreement, or any Servicing Agreement or in the case of a demand by the Securities Administrator, as the Securities Administrator has instructed hereunder demanded pursuant hereto, or as the Master Servicer has determined to be appropriate in accordance herewith, for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):purposes: (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own funds or of such Servicer’s own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that receive under subclause (iviii) any amounts with respect to of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan were if paid as Excess Liquidation Proceeds pursuant in a timely manner by the related Mortgagor; (v) to clause pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (xviii) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for servicing related advances of funds pursuant to this Agreement or the related Servicing Agreementfunds, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such servicing advances were made; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance has not been reimbursed pursuant to clauses (i) and (vi); (viii) to pay the Master Servicer as set forth in its monthly Master Servicing Fee and any investment income and other additional servicing compensation payable pursuant to Section 4.143.14; (ix) to reimburse pay the Trustee Fee to the extent not paid by the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreementon behalf of the Trust Fund from the Master Servicing Fee; (x) to pay to reimburse the Master Servicer, as additional servicing compensation, Servicer or the Securities Administrator for any Excess Liquidation Proceeds to the extent not retained expenses recoverable by the Company Master Servicer or the related ServicerSecurities Administrator pursuant to Sections 3.03 and 3.31; (xi) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian (including those related to the Custodial Agreement, to pay any fees, expenses or other amounts payable to Xxxxx Fargo Bank, N.A., as Custodian) and the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it from funds of the Trust Fund pursuant to this Agreement (Sections 3.30, 3.31 or 8.05, and to reimburse the Trustee for any fees, costs and expenses costs incurred by or reimbursable to it pursuant to Section 2.03(a), 7.01(b), 8.02, 8.05 or 8.07, to the extent not otherwise reimbursed from to it; (xiii) to pay to the Master Servicer Collection all investment earnings on amounts on deposit in the Distribution Account in accordance with to which it is entitled under Section 5.064.02(c); (xiiixiv) to remove amounts deposited in error; and (xivxv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. Notwithstanding the foregoing, amounts received in connection with the Termination Price shall not be used to reimburse amounts to any Servicer or the Master Servicer with respect to clause (i) or clause (vii) above. (b) In addition, on or before the Business Day immediately preceding each Distribution Date, the Master Servicer shall deposit in the Distribution Account (or remit to the Securities Administrator for deposit therein) any Advances or Compensating Interest Payments, to the extent required but not made by the related Servicer and required to be made by the Master Servicer with respect to the Mortgage Loans. (c) The Securities Administrator or the Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement payments or reimbursements from the Distribution Account pursuant to subclauses (i) through (vivii), inclusive, (x) and (viiixi) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (cd) In order to comply with its duties under the USA PATRIOT Act of 2001, the Securities Administrator shall obtain and verify certain information and documentation from the other parties hereto, including, but not limited to, each such party's name, address and other identifying information. (e) On each Distribution Date, the Trustee Securities Administrator shall distribute the aggregate Available Funds to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates and any other parties entitled thereto in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.01.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Luminent 2006-5)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee Securities Administrator will, from time to time on demand of the Master Servicer or the Securities Administratortime, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer Securities Administrator has designated for such transfer or withdrawal pursuant to this Agreement or any and the Servicing Agreement or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):Agreements: (i1) to reimburse the Master Servicer, the Company Servicer or the related Servicer for any Advance or Servicing Monthly Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Monthly Advance was made; (ii2) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii3) to reimburse the Master Servicer, the Company Servicer or the related Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (a3.20(a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]; (v) [reserved]; (vi4) to reimburse the Master Servicer, Servicer or the Company or a Servicer for advances of funds pursuant (other than Monthly Advances) made with respect to this Agreement or the related Servicing AgreementMortgage Loans, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii5) to reimburse the Master Servicer, Servicer or the Company or a Servicer for any Monthly Advance or advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Monthly Advance or advance has not been reimbursed pursuant to clauses (i1) and (vi4); (viii6) to pay the Master Servicer as set forth in Section 4.143.14; (ix7) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) 3.03 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement6.03; (x) 8) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi9) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii10) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Agreement; (xiii11) to pay the Credit Risk Manager Fee to the Credit Risk Manager; (12) to remove amounts deposited in error; and (xiv13) to clear and terminate the Distribution Account pursuant to Section 11.019.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i1) through (vi), inclusive, and (viii4) immediately above or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.06Servicer. (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds to the extent of funds amounts on deposit in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relypursuant to Section 4.01.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2006-2)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee willSecurities Administrator shall, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement or as the Securities Administrator has instructed hereunder Agreements for the following purposes (limited purposes, not in the case any order of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):priority: (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Loan, the amount which it would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that receive under subclause (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xvii) of this Subsection (a) to as servicing compensation on account of each defaulted scheduled payment on such Loan if paid in a timely manner by the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Loan, the amount which it would have been entitled to receive under subclause (vii) of this Subsection (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company or a any Servicer for any Advance or advanceNonrecoverable Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses clause (i) and (vi); (viiivii) to pay the Master Servicing Fee and any and all other Master Servicing Compensation to the Master Servicer, the Servicing Fee to the Servicers (to the extent such Servicing Fee was not retained by the Servicer as set forth in Section 4.14; (ixpursuant to the related Servicing Agreement) and to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.3, 8.04(c) 6.3, 8.5 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement;10.1. (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiviii) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiiix) to reimburse the Trustee, the a Custodian or and the Securities Administrator for expenses, costs and liabilities liabilities, if any, incurred by or reimbursable to it such parties pursuant to this Agreement (to or the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)related Custodial Agreement; (xiiix) to remove amounts deposited in error; and (xivxi) to clear and terminate the Distribution Account pursuant to Section 11.019.1. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vi), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.063.23(b). (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the related Available Funds Distribution Amount to the extent of funds on deposit in the Distribution Account to the holders Holders of the related Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 4.1.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2005-Ar1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee willSecurities Administrator shall, from time to time on demand of the Master Servicer or the Securities AdministratorServicer, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement or as the Securities Administrator has instructed hereunder Agreements for the following purposes (limited purposes, not in the case any order of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08):priority: (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own funds, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance was made; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage Loan; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses incurred with respect to such Mortgage Loan; provided that ; (iv) to pay the Master Servicer shall not be or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Loan, the amount which it or such Servicer would have been entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan to the extent that receive under subclause (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xvii) of this Subsection (a) to as servicing compensation on account of each defaulted scheduled payment on such Loan if paid in a timely manner by the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (iv) [reserved]related Mortgagor; (v) [reserved]to pay the Master Servicer or any Servicer from the Purchase Price for any Loan, the amount which it or such Servicer would have been entitled to receive under subclause (vii) of this Subsection (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a Servicer for advances of funds pursuant to this Agreement or the related Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (vii) to reimburse the Master Servicer, the Company or a any Servicer for any Advance or advanceNonrecoverable Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses clause (i) and (vi); (viiivii) to pay the Master Servicing Compensation to the Master Servicer, the Servicing Fee to the Servicers (to the extent such Servicing Fee was not retained by a Servicer as set forth in Section 4.14; (ix) pursuant to the related Servicing Agreement), the Credit Risk Management Fee to the Credit Risk Manager for such Distribution Date and to reimburse the Master Servicer for premiums payable in connection with any lender paid mortgage insurance and for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c) 6.03, 8.05 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement;10.01. (x) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xiviii) to reimburse or pay the Company or the related any Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and which have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xiiix) to reimburse the Trustee, the Custodian or Custodians and the Securities Administrator for expenses, costs and liabilities liabilities, if any, incurred by or reimbursable to it such parties pursuant to this Agreement (to and the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Custodial Agreements; (xiiix) to remove amounts deposited in error; and; (xivxi) to clear and terminate the Distribution Account pursuant to Section 11.019.01; and (xii) to distribute any Subsequent Recoveries to the Insurer pursuant to Section 4.02. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (viv), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.063.23(b). (c) On each Distribution Date, the Trustee Securities Administrator shall distribute the Available Funds Distribution Amount to the extent of funds on deposit in the Distribution Account to the holders Holders of the Certificates and to the Insurer in accordance with the Remittance Report upon which the Trustee may conclusively relySection 4.01.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Deutsche Alt-B Securities Mortgage Loan Trust, Series 2006-Ab4)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any the Servicing Agreement Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that , and in the Trustee shall case of amounts due the EMC Servicer or any other Servicer to those not be responsible for such determination and may rely on withdrawn from its Protected Account in accordance with the Master Servicer's or the Securities Administrator's instructions under this Section 5.08related Servicing Agreement): (i) to reimburse the Master Servicer, the Company Servicer or the related any Servicer for any Advance or Servicing Advance of its own fundsAdvance, the right of the Master Servicer, the Company Servicer or the related a Servicer to reimbursement pursuant to this subclause (i) being limited to amounts received on a particular Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan respecting which such Advance or Servicing Advance advance was made; ; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended by the Master Servicer, the Company Servicer or the related such Servicer in good faith in connection with the restoration of the related Mortgaged Property which was damaged not covered by an uninsured cause any Insurance Policy, including any hazard insurance or in connection with the liquidation of such Mortgage Loan; ; (iii) to reimburse the Master Servicer, the Company Servicer or the related any Servicer from Insurance Proceeds relating to a particular Mortgage Loan for insured expenses incurred with respect to such Mortgage Loan and to reimburse the Master Servicer, the Company Servicer or the related such Servicer from Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses liquidation expenses incurred with respect to such Mortgage Loan; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses liquidation expenses with respect to a Mortgage Loan to the extent that (i) any amounts with respect to such Mortgage Loan were paid as Excess Liquidation Proceeds pursuant to clause (xxi) of this Subsection (a) to the Master Servicer; and (ii) such Liquidation Expenses liquidation expenses were not included in the computation of such Excess Liquidation Proceeds; ; (iv) [reserved]; to pay the Master Servicer or any Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (xi) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such Mortgage Loan if paid in a timely manner by the related Mortgagor; (v) [reserved]; to pay the Master Servicer or any Servicer from the Purchase Price for any Mortgage Loan, the amount which it or such Servicer would have been entitled to receive under subclause (xi) of this subsection (a) as servicing compensation; (vi) to reimburse the Master Servicer, the Company Servicer or a any Servicer for advances of funds unreimbursed Servicing Advances made pursuant to this Agreement or the related applicable Servicing Agreement, and the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan (including, for this purpose, the Repurchase Purchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances Servicing Advances were made; ; (vii) to reimburse the Master Servicer, the Company Servicer or a any Servicer for any unreimbursed Advance or advanceany Servicing Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan if the Advance or advance Servicing Advance has not been reimbursed pursuant to clauses clause (i) and or (vi); ; (viii) to pay the any Master Servicer as set forth in Section 4.14; Servicing Fee; (ix) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.033.03, 8.04(c) 7.04 and (d) and 12.02 or otherwise reimbursable to it pursuant to this Agreement; 11.02, as applicable; (x) to pay to the Master Servicer, as additional compensation, any Excess Liquidation Proceeds with respect to a Mortgage Loan to the extent not retained by the related Servicer and to pay to the EMC Servicer, as additional servicing compensation, any Excess Liquidation Proceeds with respect to the extent not retained by the Company or the related Servicer; an EMC Mortgage Loan; (xi) to reimburse or pay the Company any Servicer or the related Master Servicer any such amounts as are due thereto under this Agreement or the related applicable Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; ; (xii) to reimburse the Trustee, the Custodian Securities Administrator or the Securities Administrator Custodian for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06); Agreement; (xiii) to remove amounts deposited in error; and and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.0110.01. (b) The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vixii), inclusive, and (viii) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (c) On each Distribution Date, based solely on the applicable Remittance Report, the Trustee shall distribute the Available Interest Funds to the extent of funds on deposit and Principal Funds in the Distribution Account to the holders Holders of the Certificates in accordance with the Remittance Report upon which the Trustee may conclusively relySection 5.04(a).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2004-Sd3)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities AdministratorServicer, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement or any as specified in a certificate signed by a Servicing Agreement or as Officer (upon which the Securities Administrator has instructed hereunder Trustee may conclusively rely) for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement; provided that the Trustee shall not be responsible for such determination and may rely on the Master Servicer's or the Securities Administrator's instructions under this Section 5.08): (i) [Reserved]; (ii) to reimburse the Master Servicer, the Company Servicer or the related any Sub-Servicer for any Monthly Advance or Servicing Advance of its own funds or any advance of such Sub-Servicer's own funds, the right of the Master Servicer, the Company Servicer or the related a Sub- Servicer to reimbursement pursuant to this subclause (iii) being limited to amounts received on a particular Mortgage Loan XXX (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late payments or recoveries of the principal of or interest on such Mortgage Loan XXX respecting which such Monthly Advance or Servicing Advance was made; (iiiii) to reimburse the Master Servicer, the Company Servicer or the related any Sub-Servicer from Insurance Proceeds or Liquidation Proceeds relating to a particular Mortgage Loan XXX for amounts expended by the Master Servicer, the Company Servicer or the related such Sub-Servicer pursuant to Section 3.12 in good faith in connection with the restoration of the related Mortgaged Property which was damaged by an uninsured cause Uninsured Cause or in connection with the liquidation of such Mortgage LoanXXX; (iiiiv) to reimburse the Master Servicer, the Company Servicer or the related any Sub-Servicer from Insurance Proceeds relating to a particular Mortgage Loan XXX for insured expenses Insured Expenses incurred with respect to such Mortgage Loan XXX and to reimburse the Master Servicer, the Company Servicer or the related such Sub-Servicer from Liquidation Proceeds from a particular Mortgage Loan XXX for Liquidation Expenses incurred with respect to such Mortgage LoanXXX; provided that the Master Servicer shall not be entitled to reimbursement for Liquidation Expenses with respect to a Mortgage Loan XXX to the extent that (i) any amounts with respect to such Mortgage Loan XXX were paid as Excess Liquidation Proceeds pursuant to clause (xxii) of this Subsection (a4.03(a) to the Master Servicer; and (ii) such Liquidation Expenses were not included in the computation of such Excess Liquidation Proceeds; (v) to pay the Master Servicer or any Sub-Servicer (payment to any Sub-Servicer to be subject to prior payment to the Master Servicer of an amount equal to the Master Servicing Fee), as appropriate, from Liquidation Proceeds or Insurance Proceeds received in connection with the liquidation of any XXX, the amount which it or such Sub-Servicer would have been entitled to receive under subclause (x) of this Subsection 4.03(a) as servicing compensation on account of each defaulted scheduled payment on such XXX if paid in a timely manner by the related Mortgagor, but only to the extent that the aggregate of Liquidation Proceeds and Insurance Proceeds with respect to such XXX, after any reimbursement to the Master Servicer or any Sub-Servicer, pursuant to subclauses (ii), (iii), (iv) [reserved]; and (vvii) [reserved]of this Subsection 4.03(a), exceeds the Outstanding Principal Balance of such XXX plus accrued and unpaid interest thereon at the related Stated Interest Rate less the Master Servicing Fee Rate to but not including the date of payment; (vi) to reimburse pay the Master Servicer or any Sub-Servicer (payment to any Sub-Servicer to be subject to prior payment to the Master Servicer of the portion of the Master Servicing Fee which the Master Servicer is entitled to retain as evidenced in writing to the Trustee by the Master Servicer, as appropriate) from the Company Repurchase Price for any XXX, the amount which it or a such Sub-Servicer would have been entitled to receive under subclause (x) of this Subsection 4.03(a) as servicing compensation, but only to the extent that the Repurchase Price with respect to such XXX after any reimbursement to the related Master Servicer and Sub-Servicer pursuant to subclauses (ii) and (vii) of this Subsection 4.03 (a) exceeds the Outstanding Principal Balance of such XXX plus accrued and unpaid interest thereon at the related Stated Interest Rate less the Master Servicing Fee Rate through the last day of the month of repurchase; (vii) to reimburse the Master Servicer or any Sub-Servicer for advances of funds Servicing Advances pursuant to this Agreement or the related Servicing AgreementSections 3.07, 3.09 and 3.10, the right to reimbursement pursuant to this subclause being limited to amounts received on the related Mortgage Loan XXX (including, for this purpose, the Repurchase Price therefor, Insurance Proceeds and Liquidation Proceeds) which represent late recoveries of the payments for which such advances were made; (viiviii) to pay the Master Servicer or any Sub-Servicer, as the case may be, with respect to each XXX that has been purchased pursuant to Section 2.02, 2.03A, 2.04, 3.19 or 10.01, all amounts received thereon, representing recoveries of principal that reduce the Outstanding Principal Balance of the related XXX below the Outstanding Principal Balance used in calculating the Repurchase Price or representing interest included in the calculation of the Repurchase Price or accrued after the end of the month during which such repurchase occurs; (ix) to reimburse the Master Servicer, the Company Servicer or a any Sub-Servicer for any Monthly Advance or advanceServicing Advance, after a Realized Loss has been allocated with respect to the related Mortgage Loan XXX if the Monthly Advance or advance Servicing Advance has not been reimbursed pursuant to clauses (iii) and (vivii); (viiix) to pay the Master Servicer and any Sub-Servicer servicing compensation as set forth in Section 4.143.14; (ixxi) to reimburse the Master Servicer for expenses, costs and liabilities incurred by and reimbursable to it pursuant to Sections 4.03, 8.04(c) and (d) and 12.02 or otherwise reimbursable to it pursuant to this AgreementSubsection 7.04(d); (xxii) to pay to the Master Servicer, as additional servicing compensation, any Excess Liquidation Proceeds to the extent not retained by the Company or the related Servicer; (xi) to reimburse or pay the Company or the related Servicer any such amounts as are due thereto under this Agreement or the related Servicing Agreement and have not been retained by or paid to the Company or the related Servicer, to the extent provided herein and in the related Servicing Agreement; (xii) to reimburse the Trustee, the Custodian or the Securities Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement (to the extent not reimbursed from the Master Servicer Collection Account in accordance with Section 5.06)Proceeds; (xiii) to remove amounts deposited in error; and (xiv) to clear and terminate the Distribution Account pursuant to Section 11.01.10.01; and (bxiv) to remove amounts deposited in error. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan XXX by Mortgage Loan XXX basis, for the purpose of accounting for any reimbursement from the Distribution Account pursuant to subclauses (i) through (vivii), inclusive, and (viiiix) or with respect to any such amounts which would have been covered by such subclauses had the amounts not been retained by the Master Servicer without being deposited in the Distribution Account under Section 5.064.02(b). (cb) On each Distribution Date, the Trustee shall distribute make the Available Funds following payments in the priority set forth from the funds in the Distribution Account: (i) First, the Trustee's Fees and expenses shall be paid to the extent Trustee in accordance with Section 9.05(a); and (ii) Second, the amount distributable to the Holders of funds on the Certificates shall be payable in accordance with Section 6.01. (c) Notwithstanding the provisions of this Section 4.03, the Master Servicer may, but is not required to, allow the Sub-Servicers to deduct from amounts received by them or from the related Collection Account, prior to deposit in the Distribution Account, any portion to which such Sub-Servicers are entitled as servicing compensation (including income on Permitted Investments) or reimbursement of any reimbursable advances made by such Sub-Servicers. (d) The Trustee shall be permitted to make withdrawals or transfers from the Distribution Account to the holders of the Certificates in accordance with the Remittance Report upon which remove amounts deposited by the Trustee may conclusively relyin error.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Samco Mortgage Securities Corp)