Permitted Withdrawals From Escrow Accounts Sample Clauses

Permitted Withdrawals From Escrow Accounts. Withdrawals from any Escrow Account may be made by the Servicer only (i) to effect timely payments of ground rents, taxes, assessments, water rates, hazard insurance premiums, Primary Insurance Policy premiums, if applicable, and comparable items constituting Escrow Payments for the related Mortgage, (ii) to reimburse the Servicer for any Servicing Advance made by the Servicer with respect to a related Mortgage Loan but only from amounts received on the related Mortgage Loan that represent late payments or collections of Escrow Payments thereunder, (iii) to refund to the Mortgagor any funds as may be determined to be overages, (iv) if permitted by applicable law, for transfer to the Collection Account in accordance with the terms of this Agreement, (v) for application to the restoration or repair of the Mortgaged Property in accordance with the terms of the related Mortgage Loan, (vi) to pay to the Servicer, or to the Mortgagor to the extent required by law, any interest paid on the funds deposited in the Escrow Account, (vii) to reimburse a Mortgagor in connection with the making of the Payoff of the related Mortgage Loan or the termination of all or part of the escrow requirement in connection with the Mortgage Loan, (viii) to remove any amounts deposited into the Escrow Account in error; or (ix) to clear and terminate the Escrow Account on the termination of this Agreement.
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Permitted Withdrawals From Escrow Accounts. 60 Section 5.08 Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder................................61 Section 5.09
Permitted Withdrawals From Escrow Accounts. 49 Section 5.08 Payment of Taxes, Insurance and Other Charges; Maintenance of Primary Insurance Policies; Collections Thereunder............................50 Section 5.09 Transfer of Accounts.............................................................51 Section 5.10 Maintenance of Hazard Insurance..................................................51 Section 5.11 Reserved.........................................................................53 Section 5.12 Fidelity Bond; Errors and Omissions Insurance....................................53 Section 5.13 Realization Upon Specially Serviced Mortgage Loans and REO Properties...................................................................54 Section 5.14 Management of REO Properties.....................................................56 Section 5.15 Sale of REO Properties...........................................................57 Section 5.16 Investment of Funds in the Collection Account....................................58 Section 5.17 MERS.............................................................................58 Section 5.18 Pledged Asset Mortgage Loans.....................................................59 Section 5.19 Inspections......................................................................63 Section 5.20 Restoration of Mortgaged Property................................................63 Section 5.21 Real Estate Owned Reports........................................................64 Section 5.22 Reports of Foreclosures and Abandonments of Mortgaged Property.........................................................................64
Permitted Withdrawals From Escrow Accounts. Withdrawals from the Escrow Accounts may be made by the Master Servicer (i) to effect timely payments of ground rents, taxes, assessments, water rates, fire, flood and hazard insurance premiums and comparable items in a manner and at a time that assures that the lien priority of the Mortgage is not jeopardized (or, with respect to the payment of taxes, in a manner and at a time that avoids the loss of the Mortgaged Property due to a tax sale or the foreclosure as a result of a tax lien), (ii) to reimburse the Master Servicer for any advance made by it with respect to a related Mortgage but only from amounts received on the related Mortgage which represent Escrow Payments thereunder with respect to taxes and assessments and with respect to hazard insurance, (iii) to refund to the Obligor any funds as may be determined to be overages, (iv) for transfer to the Holding Account in accordance with the terms of this Agreement, (v) to pay to the Master Servicer, or to the Obligor to the extent required by the related Mortgage, any interest paid on the funds deposited in the Escrow Account or (vi) to clear and terminate the Escrow Account on the termination of this Agreement. Notwithstanding the foregoing, the Master Servicer shall withdraw funds from an Escrow Account, only for payments of amounts, and only to the extent and at times permitted by applicable laws, rules and regulations. In the event the Master Servicer shall deposit in the Escrow Account any amount not required to be deposited therein, it may at any time withdraw such amount from the Escrow Account, any provision herein to the contrary notwithstanding.”
Permitted Withdrawals From Escrow Accounts. 6 SECTION 2.10. Payment of Taxes and Insurance...........................................................6 SECTION 2.11. Maintenance of Hazard Insurance..........................................................6 SECTION 2.12. Delinquent Payments on Mortgage Loans....................................................6 SECTION 2.13. Servicing Compensation...................................................................6
Permitted Withdrawals From Escrow Accounts. On direct serviced Mortgage Loans withdrawals from the Escrow Accounts established under Section 2.08 may be made by the Interim Servicer as the case may be, only (a) to effect timely payments of ground rents, taxes, assessments, water rates, mortgage insurance premiums, fire and hazard insurance premiums or other items constituting Escrow Payments for the related Mortgage Loan, (b) to refund to any Mortgagor any funds found to be in excess of the amounts required under the terms of the related Mortgage Loan, (c) for transfer to the Certificate Account in accordance with the terms of the related Mortgage Loan, (d) for application to restoration or repair of the Mortgaged Property, (e) to pay to the Mortgagor, to the extent required by law, any interest paid on the funds deposited in the Escrow Accounts, or (f) to clear and terminate the Escrow Accounts upon the termination of this Agreement.

Related to Permitted Withdrawals From Escrow Accounts

  • Permitted Withdrawals From Escrow Account Withdrawals from the Escrow Account or Accounts may be made by the Servicer only:

  • Permitted Withdrawals From Custodial Account The Servicer shall, from time to time, withdraw funds from the Custodial Account for the following purposes:

  • Permitted Withdrawals from the Custodial Account (a) The Master Servicer may, from time to time as provided herein, make withdrawals from the Custodial Account of amounts on deposit therein pursuant to Section 3.07 that are attributable to the Mortgage Loans for the following purposes:

  • Permitted Withdrawals from the Collection Account The Servicer may, from time to time, withdraw funds from the Collection Account for the following purposes:

  • Permitted Withdrawals From the Protected Account (a) The Master Servicer may from time to time make withdrawals from the Protected Account for the following purposes:

  • Withdrawals From Escrow Account Withdrawals from the Escrow Account shall be made by the Seller only (a) to effect timely payments of ground rents, taxes, assessments, premiums for Primary Mortgage Insurance Policies, fire and hazard insurance premiums or other items constituting Escrow Payments for the related Mortgage, (b) to reimburse the Seller for any Servicing Advance made by Seller pursuant to Subsection 11.08 hereof with respect to a related Mortgage Loan, (c) to refund to any Mortgagor any funds found to be in excess of the amounts required under the terms of the related Mortgage Loan, (d) for transfer to the Custodial Account upon default of a Mortgagor or in accordance with the terms of the related Mortgage Loan and if permitted by applicable law, (e) for application to restore or repair of the Mortgaged Property, (f) to pay to the Mortgagor, to the extent required by law, any interest paid on the funds deposited in the Escrow Account, (g) to pay to itself any interest earned on funds deposited in the Escrow Account (and not required to be paid to the Mortgagor), (h) to the extent permitted under the terms of the related Mortgage Note and applicable law, to pay late fees with respect to any Monthly Payment which is received after the applicable grace period, (i) to withdraw suspense payments that are deposited into the Escrow Account, (j) to withdraw any amounts inadvertently deposited in the Escrow Account or (k) to clear and terminate the Escrow Account upon the termination of this Agreement.

  • Permitted Withdrawals and Transfers from the Distribution Account (a) The Trustee will, from time to time on demand of the Master Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Distribution Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement and the Servicing Agreements or as the Securities Administrator has instructed hereunder for the following purposes (limited in the case of amounts due the Master Servicer to those not withdrawn from the Master Servicer Collection Account in accordance with the terms of this Agreement):

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