Permitted Withdrawals from a Custodial Account. The Master Servicer or the Trustee may, from time to time, make withdrawals or permit a Primary Servicer to make withdrawals from a Custodial Account for the following purposes (in each case, to the extent not previously paid or retained): (i) to reimburse the Master Servicer or the Primary Servicer for previously unreimbursed Delinquency Advances and previously unreimbursed Servicing Advances, in the latter case only from payments on the related Mortgage Loan; (ii) to withdraw and retain interest earnings and other investment earnings on the funds held in such Custodial Account to the extent permitted by the related Servicing Contract; (iii) to pay to the Primary Servicer the Servicing Fee and any Excess Spread prior to the effective date of any termination of the Primary Servicer that made the designation (in each case unless previously withheld for these purposes pursuant to the related Servicing Contract); (iv) to pay any Securitized Excess Spread to the trustee of the Other Xxxxxx Xxx Trust that holds the Securitized Excess Spread; (v) to withdraw from a Custodial Account any amount that was not required to be deposited to a Custodial Account pursuant to Subsection 6.1(2); (vi) to transfer the amounts described in Section 6.3, and any other amounts that are permitted or required to be deposited to a Certificate Account, for deposit to a Certificate Account as provided in Subsection 7.2(3); (vii) to pay the Guarantor the Guaranty Fee, unless the Master Servicer or the Primary Servicer, as applicable, has received notice from the Trustee that a Guarantor Event of Default of the type described in clause (a) of Section 12.1 has occurred, and has not received a subsequent notice from the Trustee that such Guarantor Event of Default has been cured; (viii) to withdraw amounts for such other purposes as may be specified in the related Issue Supplement or as permitted by the related Servicing Contract; and (ix) to clear or close a Custodial Account or transfer any funds to one or more other Custodial Accounts (which may be a Custodial Account for one or more Trusts and Other Xxxxxx Xxx Trusts, except as provided in paragraph (b) of Subsection 6.1(1)), in each case as permitted by the related Servicing Contract or required by the Master Servicer.
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Samples: Multifamily Master Trust Agreement, Amended and Restated 2021 Multifamily Master Trust Agreement
Permitted Withdrawals from a Custodial Account. The Master Servicer or the Trustee may, from time to time, make withdrawals or permit a Primary Servicer to make withdrawals from a Custodial Account for the following purposes (in each case, to the extent not previously paid or retained):retained):
(i) to reimburse the Master Servicer or the Primary Servicer for previously unreimbursed Delinquency Advances and previously unreimbursed Servicing Advances, in the latter case only from payments on the related Mortgage Loan;
(ii) to withdraw and retain interest earnings and other investment earnings on the funds held in such Custodial Account to the extent permitted by the related Servicing Contract;
(iii) to pay to the Primary Servicer the Servicing Fee and any Excess Spread prior to the effective date of any termination of the Primary Servicer that made the designation (in each case unless previously withheld for these purposes pursuant to the related Servicing Contract);
(iv) to pay any Securitized Excess Spread to the trustee of the Other Xxxxxx Xxx Trust that holds the Securitized Excess Spread;
(v) to withdraw from a Custodial Account any amount that was not required to be deposited to a Custodial Account pursuant to Subsection 6.1(2);
(vi) to transfer the amounts described in Section 6.3, and any other amounts that are permitted or required to be deposited to a Certificate Account, for deposit to a Certificate Account as provided in Subsection 7.2(3);
(vii) to pay the Guarantor the Guaranty Fee, unless the Master Servicer or the Primary Servicer, as applicable, has received notice from the Trustee that a Guarantor Event of Default of the type described in clause (a) of Section 12.1 has occurred, and has not received a subsequent notice from the Trustee that such Guarantor Event of Default has been cured;
(viii) to withdraw amounts for such other purposes as may be specified in the related Issue Supplement or as permitted by the related Servicing Contract; and
(ix) to clear or close a Custodial Account or transfer any funds to one or more other Custodial Accounts (which may be a Custodial Account for one or more Trusts and Other Xxxxxx Xxx Trusts, except as provided in paragraph (b) of Subsection 6.1(1)), in each case as permitted by the related Servicing Contract or required by the Master Servicer.
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Samples: Master Trust Agreement
Permitted Withdrawals from a Custodial Account. The Master Servicer or the Trustee may, from time to time, make withdrawals or permit a Primary Servicer to make withdrawals from a Custodial Account for the following purposes (in each case, to the extent not previously paid or retained):
(i) to reimburse the Master Servicer or the Primary Servicer for previously unreimbursed Delinquency Advances and previously unreimbursed Servicing Advances, in the latter case only from payments on the related Mortgage Loan;
(ii) to withdraw and retain interest earnings and other investment earnings on the funds held in such Custodial Account to the extent permitted by the related Servicing Contract;
(iii) to pay to the Primary Servicer the Servicing Fee and any Excess Spread prior to the effective date of any termination of the Primary Servicer that made the designation (in each case unless previously withheld for these purposes pursuant to the related Servicing Contract);
(iv) to pay any Securitized Excess Spread to the trustee of the Other Xxxxxx Xxx Trust that holds the Securitized Excess Spread;
(v) to withdraw from a Custodial Account any amount that was not required to be deposited to a Custodial Account pursuant to Subsection 6.1(2);
(vi) to transfer the amounts described in Section 6.3, and any other amounts that are permitted or required to be deposited to a Certificate Account, for deposit to a Certificate Account as provided in Subsection 7.2(3);
(vii) to pay the Guarantor the Guaranty Fee, unless the Master Servicer or the Primary Servicer, as applicable, has received notice from the Trustee that a Guarantor Event of Default of the type described in clause (a) of Section 12.1 has occurred, and has not received a subsequent notice from the Trustee that such Guarantor Event of Default has been cured;
(viii) to withdraw amounts for such other purposes as may be specified in the related Issue Supplement or as permitted by the related Servicing Contract; and
(ix) to clear or close a Custodial Account or transfer any funds to one or more other Custodial Accounts (which may be a Custodial Account for one or more Trusts and Other Xxxxxx Xxx Mae Trusts, except as provided in paragraph (b) of Subsection 6.1(1)), in each case as permitted by the related Servicing Contract or required by the Master Servicer.
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Permitted Withdrawals from a Custodial Account. The Master Servicer or the Trustee may, from time to time, make withdrawals or permit a Primary Servicer to make withdrawals from a Custodial Account for the following purposes (in each case, to the extent not previously paid or retained):
(i) to reimburse the Master Servicer or the Primary Servicer for previously unreimbursed Delinquency Advances and previously unreimbursed Servicing Advances, in the latter case only from payments on the related Mortgage Loan;
(ii) to withdraw and retain interest earnings and other investment earnings on the funds held in such Custodial Account to the extent permitted by the related Servicing Contract;
(iii) to pay to the Primary Servicer the Servicing Fee Fee, any Excess Spread, and any Designated Excess Spread prior to the effective date of any termination of the Primary Servicer that made the designation (in each case unless previously withheld for these purposes pursuant to the related Servicing Contract);
(iv) to pay any Securitized Excess Spread to the trustee of the Other Xxxxxx Xxx Mae Trust that holds the Securitized Excess Spread;Spread and to pay any Designated Excess Spread to the Issuer (or its designee) from and after the effective date of any termination of the Primary Servicer that made the designation;
(v) to withdraw from a Custodial Account any amount that was not required to be deposited to a Custodial Account pursuant to Subsection 6.1(2);
(vi) to transfer the amounts described in Section 6.3, and any other amounts that are permitted or required to be deposited to a Certificate Account, for deposit to a Certificate Account as provided in Subsection 7.2(3);
(vii) to pay the Guarantor the Guaranty Fee, unless the Master Servicer or the Primary Servicer, as applicable, has received notice from the Trustee that a Guarantor Event of Default of the type described in clause (a) of Section 12.1 has occurred, and has not received a subsequent notice from the Trustee that such Guarantor Event of Default has been cured;
(viii) to withdraw amounts for such other purposes as may be specified in the related Issue Supplement or as permitted by the related Servicing Contract; and
(ix) to clear or close a Custodial Account or transfer any funds to one or more other Custodial Accounts (which may be a Custodial Account for one or more Trusts and Other Xxxxxx Xxx Trusts, except as provided in paragraph (b) of Subsection 6.1(1)), in each case as permitted by the related Servicing Contract or required by the Master Servicer.
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Permitted Withdrawals from a Custodial Account. The Master Servicer or the Trustee may, from time to time, make withdrawals or permit a Primary Servicer to make withdrawals from a Custodial Account for the following purposes (in each case, to the extent not previously paid or retained):retained):
(i) to reimburse the Master Servicer or the Primary Servicer for previously unreimbursed Delinquency Advances and previously unreimbursed Servicing Advances, in the latter case only from payments on the related Mortgage Loan;
(ii) to withdraw and retain interest earnings and other investment earnings on the funds held in such Custodial Account to the extent permitted by the related Servicing Contract;
(iii) to pay to the Primary Servicer the Servicing Fee and any Excess Spread prior to the effective date of any termination of the Primary Servicer that made the designation (in each case unless previously withheld for these purposes pursuant to the related Servicing Contract);
(iv) to pay any Securitized Excess Spread to the trustee of the Other Xxxxxx Xxx Trust that holds the Securitized Excess Spread;
(v) to withdraw from a Custodial Account any amount that was not required to be deposited to a Custodial Account pursuant to Subsection 6.1(2);
(vi) to transfer the amounts described in Section 6.3, and any other amounts that are permitted or required to be deposited to a Certificate Account, for deposit to a Certificate Account as provided in Subsection 7.2(3);
(vii) to pay the Guarantor the Guaranty Fee, unless the Master Servicer or the Primary Servicer, as applicable, has received notice from the Trustee that a Guarantor Event of Default of the type described in clause (a) of Section 12.1 has occurred, and has not received a subsequent notice from the Trustee that such Guarantor Event of Default has been cured;
(viii) to withdraw amounts for such other purposes as may be specified in the related Issue Supplement or as permitted by the related Servicing Contract; and
(ix) to clear or close a Custodial Account or transfer any funds to one or more other Custodial Accounts (which may be a Custodial Account for one or more Trusts and Other Xxxxxx Xxx Mae Trusts, except as provided in paragraph (b) of Subsection 6.1(1)), in each case as permitted by the related Servicing Contract or required by the Master Servicer.
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Permitted Withdrawals from a Custodial Account. The Master Servicer or the Trustee may, from time to time, make withdrawals or permit a Primary Direct Servicer or a Subservicer to make withdrawals from a Custodial Account for the following purposes (in each case, to the extent not previously paid or retained):retained):
(i) to reimburse the Master Servicer or the Primary Direct Servicer for previously unreimbursed (x) Delinquency Advances that were made by the Master Servicer or the Direct Servicer, as applicable, from its own corporate funds and not previously reimbursed, (I) from payments on the related Mortgage Loan and (II) from Prepayments of the Mortgage Loans in the related Trust and scheduled Borrower payments on such Mortgage Loans that in each case are not required to be included in the Certificate Distribution Amount on the immediately following Distribution Date, and (y) previously unreimbursed Servicing Advances, in the latter case Advances only from payments on the related Mortgage Loan;
(ii) to withdraw and retain interest earnings and other investment earnings on the funds held in such Custodial Account to the extent permitted by the related Servicing Contract;
(iii) to pay to the Primary Direct Servicer the Servicing Fee Fee, LPMI Charges, any Excess Spread, and any Designated Excess Spread prior to the effective date of any termination of the Primary Direct Servicer that made the designation (in each case unless previously withheld for these purposes pursuant to the related Servicing Contract);
(iv) to pay any Securitized Excess Spread to the trustee of the Other Xxxxxx Xxx Mae Trust that holds the Securitized Excess SpreadSpread and to pay any Designated Excess Spread to the Issuer (or its designee) from and after the effective date of any termination of the Direct Servicer that made the designation;
(v) to withdraw from a Custodial Account any amount that was not required to be deposited to a Custodial Account pursuant to Subsection 6.1(2);
(vi) to transfer the amounts described in Section 6.3, and any other amounts that are permitted or required to be deposited to a Certificate Account, for deposit to a Certificate Account as provided in Subsection 7.2(3);
(vii) to pay the Guarantor the Guaranty Fee, unless the Master Servicer or the Primary Direct Servicer, as applicable, has received notice from the Trustee that a Guarantor Event of Default of the type described in clause (a) of Section 12.1 has occurred, and has not received a subsequent notice from the Trustee that such Guarantor Event of Default has been cured;
(viii) to withdraw amounts for such other purposes as may be specified in the related Issue Supplement or as permitted by the related Servicing Contract; and
(ix) to clear or close a Custodial Account or transfer any funds to one or more other Custodial Accounts (which may be a Custodial Account for one or more Trusts and Other Xxxxxx Xxx Trusts, except as provided in paragraph (b) of Subsection 6.1(1)), in each case as permitted by the related Servicing Contract or required by the Master Servicer.
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Samples: Second Amended and Restated 2007 Single Family Master Trust Agreement
Permitted Withdrawals from a Custodial Account. The Master Servicer or the Trustee may, from time to time, make withdrawals or permit a Primary Servicer to make withdrawals from a Custodial Account for the following purposes (in each case, to the extent not previously paid or retained):
(i) to reimburse the Master Servicer or the Primary Servicer for previously unreimbursed Delinquency Advances and previously unreimbursed Servicing Advances, in the latter case only from payments on the related Mortgage Loan;
(ii) to withdraw and retain interest earnings and other investment earnings on the funds held in such Custodial Account to the extent permitted by the related Servicing Contract;
(iii) to pay to the Primary Servicer the Servicing Fee and any Excess Spread prior to the effective date of any termination of the Primary Servicer that made the designation (in each case unless previously withheld for these purposes pursuant to the related Servicing Contract);
(iv) to pay any Securitized Excess Spread to the trustee of the Other Xxxxxx Xxx Mae Trust that holds the Securitized Excess Spread;
(v) to withdraw from a Custodial Account any amount that was not required to be deposited to a Custodial Account pursuant to Subsection 6.1(2);
(vi) to transfer the amounts described in Section 6.3, and any other amounts that are permitted or required to be deposited to a Certificate Account, for deposit to a Certificate Account as provided in Subsection 7.2(3);
(vii) to pay the Guarantor the Guaranty Fee, unless the Master Servicer or the Primary Servicer, as applicable, has received notice from the Trustee that a Guarantor Event of Default of the type described in clause (a) of Section 12.1 has occurred, and has not received a subsequent notice from the Trustee that such Guarantor Event of Default has been cured;
(viii) to withdraw amounts for such other purposes as may be specified in the related Issue Supplement or as permitted by the related Servicing Contract; and
(ix) to clear or close a Custodial Account or transfer any funds to one or more other Custodial Accounts (which may be a Custodial Account for one or more Trusts and Other Xxxxxx Xxx Trusts, except as provided in paragraph (b) of Subsection 6.1(1)), in each case as permitted by the related Servicing Contract or required by the Master Servicer.
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Permitted Withdrawals from a Custodial Account. The Master Servicer or the the Trustee may, from time to time, make withdrawals or permit a Primary Servicer to make withdrawals from a Custodial Account for the following purposes (in each case, case to the extent not previously paid or retained):retained):
(i) to reimburse the Master Servicer or the Primary Servicer for previously unreimbursed Delinquency Advances and previously unreimbursed Servicing Advances, in the latter case only from payments on the related Mortgage Loan;
(ii) to withdraw and retain interest earnings and other investment earnings on the funds held in such Custodial Account to the extent permitted by the related Servicing Contract;
(iii) to pay to the Primary Servicer the Servicing Fee Fee, any Excess Spread, and any Designated Excess Spread prior to the effective date of any termination of the Primary Servicer that made the designation (in each case unless previously withheld for these purposes pursuant to the related Servicing Contract);
(iv) to pay any Securitized Excess Spread to the trustee of the Other Xxxxxx Xxx Mae Trust that holds the Securitized Excess SpreadSpread and to pay any Designated Excess Spread to the Issuer (or its designee) from and after the effective date of any termination of the Primary Servicer that made the designation;
(v) to withdraw from a Custodial Account any amount that was not required to be deposited to a Custodial Account pursuant to Subsection 6.1(2);
(vi) to transfer the amounts described in Section 6.3, and any other amounts that are permitted or required to be deposited to a Certificate Account, for deposit to a Certificate Account as provided in Subsection 7.2(3);
(vii) to pay the Guarantor the Guaranty Fee, unless the Master Servicer or the Primary Servicer, as applicable, has received notice from the Trustee that a Guarantor Event of Default of the type described in clause (a) of Section 12.1 has occurred, and has not received a subsequent notice from the Trustee that such Guarantor Event of Default has been cured;
(viii) to withdraw amounts for such other purposes as may be specified in the related Issue Supplement or as permitted by the related Servicing Contract; and
(ix) to clear or close a Custodial Account or transfer any funds to one or more other Custodial Accounts (which may be a Custodial Account for one or more Trusts and Other Xxxxxx Xxx Trusts, except as provided in paragraph (b) of Subsection 6.1(1)), in each case as permitted by the related Servicing Contract or required by the Master Servicer.
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