Common use of Permitted Withdrawals from Collection Account Clause in Contracts

Permitted Withdrawals from Collection Account. The Servicer shall, from time to time, withdraw funds from the Collection Account for the following purposes: (i) to make payments to the Trustee in the amounts and in the manner provided for in Sections 6.01; (ii) to reimburse itself for advances of the Servicer's funds made pursuant to Section 6.03, the Servicer's right to reimbursement pursuant to this clause (ii) being limited to amounts received on the related Mortgage Loan which represent late payments of principal and/or interest respecting which any such advance was made; (iii) to reimburse itself or a Servicer for unreimbursed Servicing Advances, and any unpaid Servicing Fees, the Servicer's right to reimbursement pursuant to this clause (iii) with respect to any Mortgage Loan being limited to related Liquidation Proceeds, proceeds from condemnation proceedings, Insurance Proceeds and such other amounts as may be collected by the Servicer from the Mortgagor or otherwise relating to the Mortgage Loan; (iv) to reimburse itself for any advance of principal and interest previously made which remain unreimbursed in whole or in part following the liquidation of the related Mortgage Loan or REO Property; (v) to pay itself interest on funds deposited in the Collection Account; (vi) to remove funds inadvertently placed in the Collection Account by the Servicer; and (vii) to clear and terminate the Collection Account upon the termination of this Agreement. The Servicer shall keep and maintain separate accounting records for the most recent five fiscal years, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying deposits to and withdrawals from the Collection Account.

Permitted Withdrawals from Collection Account. The Servicer shall, from time to time, Trustee shall withdraw funds from amounts on deposit in the Collection Account for on each Payment Date (except as set forth in clause (v) below) in the following purposesorder of priority: (i) to make payments to the Trustee deposits in the amounts and in the manner provided for in Sections 6.01Insurance Account pursuant to Section 6.03(a); (ii) to reimburse itself for advances of make deposits in the Servicer's funds made Spread Account pursuant to Section 6.03, the Servicer's right to reimbursement pursuant to this clause (ii) being limited to amounts received on the related Mortgage Loan which represent late payments of principal and/or interest respecting which any such advance was made6.09(a)(i); (iii) to reimburse itself or a Servicer for unreimbursed Servicing Advances, and any unpaid Servicing Fees, make deposits in the Servicer's right to reimbursement Letter of Credit Fee Account pursuant to this clause (iii) with respect to any Mortgage Loan being limited to related Liquidation Proceeds, proceeds from condemnation proceedings, Insurance Proceeds and such other amounts as may be collected by the Servicer from the Mortgagor or otherwise relating to the Mortgage LoanSection 6.10(a)(i); (iv) to reimburse itself for any advance of principal and interest previously made which remain unreimbursed in whole or in part following make the liquidation of the related Mortgage Loan or REO Property;distributions pursuant to Section 6.05(d); and (v) on any day during the related Accrual Period, and in no particular order of priority: 109 (A) to invest amounts on deposit in the Collection Account in Permitted Instruments or such other instruments as may be approved in writing by the Certificate Insurer (with written notice to Moody's) pursuant to Section 6.04; (B) to pay itself to the Servicer interest paid and earnings realized on funds Permitted Instruments; (C) to withdraw any amount not required to be deposited in the Collection AccountAccount or deposited therein in error; (viD) to remove withdraw any amount that constitutes a Advance by Servicer of its own funds inadvertently placed in or a Mortgagor payment previously deposited into the Collection Account that is held to constitute a voidable preference by a trustee in bankruptcy pursuant to the ServicerUnited States Bankruptcy Code in accordance with a final, nonappealable order of a court having competent jurisdiction; and (viiE) to clear and terminate the Collection Account upon the termination of this AgreementAgreement and allocate amounts therein pursuant to Section 6.05(d). The Servicer In making the withdrawals set forth in clauses (i) through (v) (inclusive) above, the Trustee shall keep note in its records (if applicable) the respective amounts withdrawn with respect to the Fixed Rate Group and maintain separate accounting records for the most recent five fiscal years, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying deposits to and withdrawals from the Collection AccountAdjustable Rate Group.

Permitted Withdrawals from Collection Account. The Servicer shall, from time to time, Trustee shall withdraw funds from amounts on deposit in the Collection Account for on each Payment Date (except as set forth in clause(v) below) in the following purposesorder of priority: (i) to make payments to the Trustee deposits in the amounts and in the manner provided for in Sections 6.01Insurance Account pursuant to Section 6.03(a); (ii) to reimburse itself for advances of make deposits in the Servicer's funds made Spread Account pursuant to Section 6.03, the Servicer's right to reimbursement pursuant to this clause (ii) being limited to amounts received on the related Mortgage Loan which represent late payments of principal and/or interest respecting which any such advance was made6.09(a)(i); (iii) to reimburse itself or a Servicer for unreimbursed Servicing Advances, and any unpaid Servicing Fees, make deposits in the Servicer's right to reimbursement Letter of Credit Fee Account pursuant to this clause (iii) with respect to any Mortgage Loan being limited to related Liquidation Proceeds, proceeds from condemnation proceedings, Insurance Proceeds and such other amounts as may be collected by the Servicer from the Mortgagor or otherwise relating to the Mortgage LoanSection 6.10(a)(i); (iv) to reimburse itself for any advance of principal and interest previously made which remain unreimbursed in whole or in part following make the liquidation of the related Mortgage Loan or REO Property;distributions pursuant to Section 6.05(d); and (v) on any day during the related Accrual Period, and in no particular order of priority: (A) to pay itself invest amounts on deposit in the Collection Account in Permitted Instruments or such other instruments as may be approved in writing by the Certificate Insurer (with written notice to Moody's) pursuant to Section 6.04; (B) to xxx xx the Servicer interest paid and earnings realized on funds Permitted Instruments; (C) to withdraw any amount not required to be deposited in the Collection AccountAccount or deposited therein in error; (viD) to remove withdraw any amount that constitutes a Advance by Servicer of its own funds inadvertently placed in or a Mortgagor payment previously deposited into the Collection Account that is held to constitute a voidable preference by a trustee in bankruptcy pursuant to the ServicerUnited States Bankruptcy Code in accordance with a final, nonappealable order of a court having competent jurisdiction; and (viiE) to clear and terminate the Collection Account upon the termination of this AgreementAgreement and allocate amounts therein pursuant to Section 6.05(d). The Servicer In making the withdrawals set forth in clauses (i) through (v) (inclusive) above, the Trustee shall keep note in its records (if applicable) the respective amounts withdrawn with respect to the Fixed Rate Group and maintain separate accounting records for the most recent five fiscal years, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying deposits to and withdrawals from the Collection AccountAdjustable Rate Group.

Permitted Withdrawals from Collection Account. The Servicer shall, from time to time, Trustee shall withdraw funds from amounts on deposit in the Collection Account for on each Payment Date (except as set forth in clause (v) below) in the following purposesorder of priority: (i) to make payments to the Trustee deposits in the amounts and in the manner provided for in Sections 6.01Insurance Account pursuant to Section 6.03(a); (ii) to reimburse itself for advances of make deposits in the Servicer's funds made Spread Account pursuant to Section 6.03, the Servicer's right to reimbursement pursuant to this clause (ii) being limited to amounts received on the related Mortgage Loan which represent late payments of principal and/or interest respecting which any such advance was made6.09(a)(i); (iii) to reimburse itself or a Servicer for unreimbursed Servicing Advances, and any unpaid Servicing Fees, make deposits in the Servicer's right to reimbursement Letter of Credit Fee Account pursuant to this clause (iii) with respect to any Mortgage Loan being limited to related Liquidation Proceeds, proceeds from condemnation proceedings, Insurance Proceeds and such other amounts as may be collected by the Servicer from the Mortgagor or otherwise relating to the Mortgage LoanSection 6.10(a)(i); (iv) to reimburse itself for any advance of principal and interest previously made which remain unreimbursed in whole or in part following make the liquidation of the related Mortgage Loan or REO Property;distributions pursuant to Section 6.05(d); and (v) on any day during the related Accrual Period, and in no particular order of priority: (A) to invest amounts on deposit in the Collection Account in Permitted Instruments or such other instruments as may be approved in writing by the Certificate Insurer (with written notice to Moody's) pursuant to Section 6.04; (B) to pay itself to the Servicer interest paid and earnings realized on funds Permitted Instruments; (C) to withdraw any amount not required to be deposited in the Collection AccountAccount or deposited therein in error; (viD) to remove withdraw any amount that constitutes a Advance by Servicer of its own funds inadvertently placed in or a Mortgagor payment previously deposited into the Collection Account that is held to constitute a voidable preference by a trustee in bankruptcy pursuant to the ServicerUnited States Bankruptcy Code in accordance with a final, nonappealable order of a court having competent jurisdiction; and (viiE) to clear and terminate the Collection Account upon the termination of this AgreementAgreement and allocate amounts therein pursuant to Section 6.05(d). The Servicer In making the withdrawals set forth in clauses (i) through (v) (inclusive) above, the Trustee shall keep note in its records (if applicable) the respective amounts withdrawn with respect to the Fixed Rate Group and maintain separate accounting records for the most recent five fiscal years, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying deposits to and withdrawals from the Collection AccountAdjustable Rate Group.