Common use of Permitted Withdrawals From Custodial Account Clause in Contracts

Permitted Withdrawals From Custodial Account. Subject to Section 5.01, the Servicer shall be entitled to withdraw funds from the Custodial Account for the following purposes: (i) to make payments to the Owner (or as otherwise directed by the Owner in writing) in the amounts and in the manner provided in Section 5.01; (ii) to fund any Liquidity Reserve Account or any Litigation Reserve Account as and to the extent required by Section 4.17; (iii) following the liquidation of a Non-Agency Mortgage Loan, to reimburse itself for (a) any unpaid Servicing Advances to the extent recoverable from Liquidation Proceeds, Insurance Proceeds or other amounts received with respect to the related Non-Agency Mortgage Loan plus (b) related unreimbursed Nonrecoverable Advances made by the Servicer in accordance with this Agreement; (iv) to invest funds in Eligible Investments in accordance with Section 4.09; (v) to withdraw funds deposited in the Custodial Account in error; (vi) to pay to itself any interest earned on funds deposited in the Custodial Account (all such interest to be withdrawn monthly not later than each Remittance Date); and (vii) to clear and terminate the Custodial Account upon the termination of the Servicing Agreement. The Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Custodial Account pursuant to subclause (iii) above.

Permitted Withdrawals From Custodial Account. Subject to Section 5.01, the Servicer shall be entitled to withdraw funds from the Custodial Account for the following purposes: (i) to make payments to the Owner (or as otherwise directed by the Owner in writing) in the amounts and in the manner provided in Section 5.01; (ii) to fund any Liquidity Reserve Account or any Litigation Reserve Account as and to the extent required by Section 4.17; (iii) following the liquidation of a Non-Agency Mortgage Loan, to reimburse itself for (a) any unpaid Servicing Advances to the extent recoverable from Liquidation Proceeds, Insurance Proceeds or other amounts received with respect to the related Non-Agency Mortgage Loan plus (b) related unreimbursed Nonrecoverable Advances made by the Servicer in accordance with this Agreement; (iv) to invest funds in Eligible Investments in accordance with Section 4.09; (v) to withdraw funds deposited in the Custodial Account in error; (vi) to pay to itself any interest earned on funds deposited in the Custodial Account (all such interest to be withdrawn monthly not later than each Remittance Date)[Reserved]; and (vii) to clear and terminate the Custodial Account upon the termination of the Servicing Agreement. The Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Custodial Account pursuant to subclause (iii) above.

Permitted Withdrawals From Custodial Account. Subject to Section 5.01, the Servicer shall be entitled to withdraw funds from the Custodial Account for the following purposes: (i) to make payments to the Owner (or as otherwise directed by the Owner in writing) in the amounts and in the manner provided in Section 5.01; (ii) to fund any Liquidity Reserve Account or any Litigation Reserve Account as and to the extent required by Section 4.17; (iii) following the liquidation of a Non-Agency Mortgage Loan, to reimburse itself for (a) any unpaid Servicing Advances to the extent recoverable from Liquidation Proceeds, Insurance Proceeds or other amounts received with respect to the related Non-Agency NonAgency Mortgage Loan plus (b) related unreimbursed Nonrecoverable Advances made by the Servicer in accordance with this Agreement; (iv) to invest funds in Eligible Investments in accordance with Section 4.09; (v) to withdraw funds deposited in the Custodial Account in error; (vi) to pay to itself any interest earned on funds deposited in the Custodial Account (all such interest to be withdrawn monthly not later than each Remittance Date)[Reserved]; and (vii) to clear and terminate the Custodial Account upon the termination of the Servicing Agreement. The Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Custodial Account pursuant to subclause (iii) above.

Permitted Withdrawals From Custodial Account. Subject Subservicer shall, from time to Section 5.01time, the Servicer shall be entitled to withdraw funds from the Custodial Account for the following purposes: (i) to make payments to the Owner (or as otherwise directed by the Owner in writing) applicable Mortgage Loan Holder in the amounts and in the manner provided for in Section 5.014.01; (ii) to fund any Liquidity Reserve Account or any Litigation Reserve Account as and pay to itself the extent required by Section 4.17related Servicing Fees; (iii) following to pay itself all other fees set forth in this Agreement and any Ancillary Income deposited into the liquidation of a Non-Agency Mortgage Loan, to reimburse itself for (a) any unpaid Servicing Advances to the extent recoverable from Liquidation Proceeds, Insurance Proceeds or other amounts received with respect to the related Non-Agency Mortgage Loan plus (b) related unreimbursed Nonrecoverable Advances made by the Servicer in accordance with this AgreementCustodial Account; (iv) to invest funds in Eligible Investments in accordance with Section 4.09reimburse itself for Servicing Advances; (v) to withdraw funds deposited in the Custodial Account in errorreimburse itself for Nonrecoverable Servicing Advances; (vi) to pay to itself any interest earned on funds deposited in the Custodial Account Account; (all such interest vii) to be withdrawn monthly not later than each Remittance Date)deposit the Shortfall, if any; (viii) to transfer funds to another Qualified Depository in accordance with Section 3.10 hereof; (ix) to withdraw funds deposited in error; and (viix) to clear and terminate the Custodial Account upon the termination of the Servicing this Agreement. The Servicer Subservicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, and on an REO Property by REO Property basis, for the purpose of justifying any withdrawal from the Custodial Account pursuant to subclause (iii) aboveAccount.