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 make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee, the Supplemental Interest Trust Trustee or the Derivative Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iii) to pay investment income to the Trustee; (iv) to remove amounts deposited in error; (v) to make distributions to the Derivative Administrator for payment to the Swap Provider as provided in this Agreement; and (vi) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds and Principal Funds in the Distribution Account to the Holders of the Certificates in accordance with Section 5.04.

Appears in 10 contracts

Samples: Pooling and Servicing Agreement (Asset-Backed Certificates, Series 2005-He11), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC Trust 2006-Ec1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Aq2)

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Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee, the Supplemental Interest Trust Trustee or the Derivative Swap Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iii) to pay investment income to the Trustee; (iv) to remove amounts deposited in error; (v) to make distributions to the Derivative Swap Administrator for payment to the Swap Provider as provided in this Agreement; and (vi) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds and Principal Funds in the Distribution Account for each Loan Group to the Holders of the Certificates in accordance with Section 5.04.

Appears in 8 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Fr1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He4), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He5)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee, the Supplemental Interest Trust Trustee or the Derivative Swap Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iii) to pay investment income to the Trustee; (iv) to remove amounts deposited in error; (v) to make distributions to the Derivative Swap Administrator for payment to the Swap Provider as provided in this Agreement; and (vi) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds and Principal Funds in the Distribution Account to the Holders of the Certificates in accordance with Section 5.04.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2006-Sl2), Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2006-Sl1), Pooling and Servicing Agreement (SACO I Trust 2006-4)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee, the Supplemental Interest Trust Trustee or the Derivative Swap Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iii) to pay investment income to the Trustee; (iv) to remove amounts deposited in error; (v) to make distributions to the Derivative Swap Administrator for payment to the Swap Provider as provided in this Agreement; and (vi) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds and Principal Funds for each Loan Group in the Distribution Account to the Holders of the Certificates in accordance with Section 5.04.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2007-Sl2), Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2006-Sl6), Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2006-Sl5)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee, the Supplemental Interest Trust Trustee or the Derivative Swap Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iii) to pay investment income to the Trustee; (iv) to remove amounts deposited in error; (v) to make distributions to the Derivative Swap Administrator for payment to the Swap Provider as provided in this Agreement; and (vi) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds and Principal Funds in the Distribution Account to the Holders of the Certificates in accordance with Section 5.04.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Tc1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He8), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Tc2)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee, the Supplemental Interest Trust Trustee or the Derivative Swap Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iiiii) to pay investment income to the Trustee; (iviii) to remove amounts deposited in error; (viv) to make distributions to the Derivative Swap Administrator for payment to the Swap Provider as provided in this Agreement; and (viv) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds and Principal Funds in the Distribution Account to the Holders of the Certificates in accordance with Section 5.04.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-He4), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-He3), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-He5)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee, the Supplemental Interest Trust Trustee or the Derivative Swap Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iii) to pay the Credit Risk Manager the Credit Risk Manager Fee; (iv) to pay investment income to the Trustee; (ivv) to remove amounts deposited in error; (vvi) to make distributions to the Derivative Swap Administrator for payment to the Swap Provider as provided in this Agreement; and (vivii) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds and Principal Funds in the Distribution Account for each Loan Group to the Holders of the Certificates in accordance with Section 5.04.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He9), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He9)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee, the Supplemental Interest Trust Trustee or the Derivative Swap Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iii) to pay investment income to the Trustee; (iv) to remove amounts deposited in error; (v) to make distributions to the Derivative Swap Administrator for payment to the Swap Provider as provided in this Agreement; and (vi) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds and Principal Funds in the Distribution Account for each Loan Group to the Holders holders of the Certificates in accordance with Section 5.04.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He2)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee, the Supplemental Interest Trust Trustee or the Derivative Swap Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iii) to pay investment income to the Trustee; (iv) to remove amounts deposited in error; (v) to make distributions to the Derivative Swap Administrator for payment to the Swap Provider as provided in this Agreement; and (vi) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds and Principal Funds in the Distribution Account to the Holders of the Certificates in accordance with Section 5.04.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Fs1)

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Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee, the Supplemental Interest Trust Trustee Trustees or the Derivative Swap Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iiiii) to pay investment income to the Trustee; (iviii) to remove amounts deposited in error; (viv) with respect to each Loan Group, to make distributions to the Derivative Swap Administrator for payment to the related Swap Provider as provided in this Agreement; and (viv) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds with respect to each Loan Group and Principal Funds with respect to each Loan Group in the Distribution Account to the Holders of the Certificates in accordance with Section 5.04.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He10)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee, the Supplemental Interest Trust Trustee or the Derivative Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iii) to pay investment income to the Trustee; (iv) to remove amounts deposited in error; (v) to make distributions to the Derivative Administrator Trustee for payment to the Swap Provider as provided in this Agreement; and (vi) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds and Principal Funds in the Distribution Account to the Holders of the Certificates in accordance with Section 5.04.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Saco I Trust, 2005-6)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee, the Supplemental Interest Trust Trustee or the Derivative Swap Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iiiii) to pay investment income to the Trustee; (iviii) to remove amounts deposited in error; (viv) to make distributions to the Derivative Swap Administrator for payment to the Swap Provider as provided in this Agreement; and (viv) to clear and terminate the Distribution Account pursuant to Section 10.0111.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds and Principal Funds in the Distribution Account to the Holders of the Certificates in accordance with Section 5.046.04.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-He7)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee, the Supplemental Interest Trust Trustee Trustees or the Derivative Swap Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iii) to pay investment income to the Trustee; (iv) to remove amounts deposited in error; (v) to make distributions to the Derivative Swap Administrator for payment to the Swap Provider as provided in this Agreement; and (vi) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds and Principal Funds in the Distribution Account to the Holders of the Certificates in accordance with Section 5.04.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Aq1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee, the Supplemental Interest Trust Trustee or the Derivative Swap Administrator for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iii) to pay the Credit Risk Manager, the Credit Risk Manager Fee; (iv) to pay investment income to the Trustee; (ivv) to remove amounts deposited in error; (vvi) to make distributions to the Derivative Swap Administrator for payment to the Swap Provider as provided in this Agreement; and (vivii) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds and Principal Funds in the Distribution Account to the Holders of the Certificates in accordance with Section 5.04.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He10)

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