Common use of Permitted Withdrawals and Transfers from the Master Servicer Collection Account Clause in Contracts

Permitted Withdrawals and Transfers from the Master Servicer Collection Account. (a) The Master Servicer will, from time to time in its discretion or on demand of the Securities Administrator, make or cause to be made such withdrawals or transfers from the Master Servicer Collection Account as the Master Servicer has designated for such transfer or withdrawal pursuant to the Servicing Agreements. The Master Servicer may make withdrawals in payment of any Master Servicing Fee not previously reimbursed or withheld from funds in the Master Servicer Collection Account or the Distribution Account, and may clear and terminate the Master Servicer Collection Account pursuant to Section 10.01 and remove amounts from time to time deposited in error. (b) On an ongoing basis, Master Servicer shall withdraw from the Master Servicer Collection Account any expenses recoverable by the Trustee, the Master Servicer, the EMC Servicer, the Custodian, the Seller or the Securities Administrator pursuant to Sections 3.03, 7.01, 7.03, 7.04 and 9.05. (c) No later than 1:00 p.m. New York time on each Distribution Account Deposit Date, the Master Servicer will transfer all amounts on deposit in the Master Servicer Collection Account to the Distribution Account.

Permitted Withdrawals and Transfers from the Master Servicer Collection Account. (a) The Xxxxx Master Servicer will, from time to time in its discretion or on demand of the Securities Administrator, make or cause to be made such withdrawals or transfers from the Master Servicer Collection Account as the Xxxxx Master Servicer has designated for such transfer or withdrawal pursuant to the Servicing Agreements. The Xxxxx Master Servicer may make withdrawals in payment of any Xxxxx Master Servicing Fee not previously reimbursed or withheld from funds in the Master Servicer Collection Account or the Distribution Account, and may clear and terminate the Master Servicer Collection Account pursuant to Section 10.01 and remove amounts from time to time deposited in error. (b) On an ongoing basis, the Xxxxx Master Servicer shall withdraw from the Master Servicer Collection Account any expenses recoverable by the Trustee, the Xxxxx Master Servicer, the EMC Servicer, the Custodian, the Seller Servicer or the Securities Administrator pursuant to Sections 3.03, 7.01, 7.03, 7.04 and 9.05. (c) No later than 1:00 p.m. New York time on each Distribution Account Deposit Date, the Xxxxx Master Servicer will transfer all amounts on deposit in the Master Servicer Collection Account to the Distribution Account.