Permitted Withdrawals from the Collection Account Sample Clauses

Permitted Withdrawals from the Collection Account. The Servicer may, from time to time, withdraw funds from the Collection Account for the following purposes: (i) to reimburse itself for Advances made pursuant to Section 6.03 (including amounts to reimburse the related Sub-Servicer for advances made pursuant to the applicable Sub-Servicing Agreement), the Servicer's and the Sub-Servicer's right to receive reimbursement pursuant to this subclause (i) being limited to amounts received on particular Mortgage Loans which represent Late Collections (net of the Servicing Fees) with respect to those particular Mortgage Loans; (ii) to pay itself the Servicing Fee; (iii) to reimburse itself for unreimbursed Servicing Advances, or to pay the related Sub-Servicer any unreimbursed Servicing Advances, the Servicer's right to receive reimbursement or make payments to the Sub-Servicer pursuant to this subclause (iii) with respect to any Mortgage Loan being limited to related Liquidation Proceeds, Insurance Proceeds, and condemnation awards; (iv) to reimburse itself (or the related Sub-Servicer) or the Depositor for expenses incurred by and recoverable by or reimbursable to it pursuant to Section 5.01 or 5.16; (v) to reimburse itself (or the related Sub-Servicer) for any Nonrecoverable Advances; (vi) to pay to itself (or the related Sub-Servicer) income earned on the investment of funds deposited in the Collection Account; (vii) to make deposits into the Certificate Account in the amounts and in the manner provided for herein; (viii) to make payments to itself or others pursuant to any provision of this Agreement, and to clear and terminate the Collection Account upon the termination of this Agreement; and (ix) to withdraw amounts deposited in error.
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Permitted Withdrawals from the Collection Account. The Trustee shall make withdrawals from the Collection Account, on any Distribution Date, for the following purposes: (a) to reimburse the Servicer for Liquidation Expenses theretofore incurred in respect of any Mortgage Loan in an amount not to exceed the amount of the sum of the related Insurance Proceeds and Liquidation Proceeds deposited in the Collection Account pursuant to Section 5.02(c)(v)-(vi); (b) to reimburse the Servicer for amounts expended by it pursuant to Section 5.04 in good faith in connection with the restoration of damaged property, in an amount not to exceed the amount of the related Insurance Proceeds and Liquidation Proceeds (net of withdrawals pursuant to clause (a) above) and amounts representing proceeds of other insurance policies covering the property subject to the related Mortgage deposited in the Collection Account pursuant to Section 5.02(c)(v)-(vi); (c) to pay to the Unaffiliated Seller amounts received in respect of any Deleted Mortgage Loan purchased or substituted for by the Unaffiliated Seller to the extent that the distribution to the Certificateholders of any such amounts on the Distribution Date upon which the proceeds of such purchase are distributed to the Certificateholders would make the total amount distributed in respect of any such Mortgage Loan on such Distribution Date greater than the Loan Repurchase Price or the Substitution Adjustment therefor; (d) to reimburse the Servicer for unreimbursed Servicing Advances, without interest, with respect to the Mortgage Loans for which it has made a Servicing Advance, from subsequent collections with respect to interest on such Mortgage Loans and from Liquidation Proceeds, Insurance Proceeds and/or the Loan Repurchase Price or Substitution Adjustment of or relating to such Mortgage Loans; (e) to reimburse the Servicer for any Periodic Advances, such reimbursement to be made from any collections in respect of the related Mortgage Loan with respect to which such Periodic Advance was made; (f) to withdraw any amount received from a Mortgagor that is recoverable and sought to be recovered as a voidable preference by a trustee in bankruptcy pursuant to the United States Bankruptcy Code in accordance with a final, nonappealable order of a court having competent jurisdiction; (g) to withdraw any funds deposited in the Collection Account that were not required to be deposited therein; and (h) to pay the Servicer Servicing Compensation pursuant to Section 5.08 hereof to the ext...
Permitted Withdrawals from the Collection Account. (a) The Subservicer shall withdraw or cause to be withdrawn funds from the Collection Account for the following purposes: (i) to effect the Remittance to the Servicer on or before 1:00 p.m. Dallas, Texas time on the Remittance Date of (A) all Revenues received by Subservicer during the preceding calendar month, plus any amounts then on deposit in the Collection Account that are attributable to the repurchase of any Loan pursuant to SUBSECTION 4.03(ii), any amounts deposited pursuant to SUBSECTION 4.03(iii) and any interest and investment income earned during the preceding calendar month pursuant to SUBSECTION 4.03(iv), plus (B) any amount which would exceed the twelve (12) month time limit in subsection (b) below, less (c) the amounts set forth in clauses (ii) through (vi) below; (ii) to pay itself any Servicing Fees and additional Servicing Compensation earned hereunder; (iii) to pay itself any unreimbursed Expense Advances to the extent that the collections from the related Loan, for which such Expense Advances were made, have been received by Subservicer, including any collections from Insurance Proceeds, Liquidation Proceeds and such other amounts received from the related Obligor in repayment of such Expense Advances, but excluding any Monthly Payments; (iv) to withdraw any amount received from an Obligor that is recoverable and sought to be recovered as a voidable preference by a trustee in bankruptcy pursuant to the United States Bankruptcy Code in accordance with a final, nonappealable order of a court having competent jurisdiction; (v) to withdraw any funds deposited in the Collection Account that were not required to be deposited therein (such as Servicing Compensation) or were deposited therein in error or that constituted Insurance Proceeds the FHA seeks to reclaim on the grounds that a Loan that was the subject of an FHA Claim is found not to conform to FHA Regulations; and (vi) to clear and terminate the Collection Account upon the termination of this Agreement with any amounts on deposit therein being paid as directed by the Servicer. (b) All remittances of funds by Subservicer to Servicer pursuant to this Agreement shall be made by wire transfer of immediately available funds. The Subservicer shall not retain any cash or investment in the Collection Account for a period in excess of twelve (12) months and cash deposited therein shall be considered withdrawn pursuant to subsection (a) above to the Servicer on a first-in, first-out basis. (c)...
Permitted Withdrawals from the Collection Account. The Master Servicer shall maintain adequate records with respect to all withdrawals made pursuant to this Section 5.04. The Master Servicer may from time to time, and with respect to clause (i) below shall, withdraw funds from the Collection Account or the Investment Account for the following purposes: (i) to pay to the Master Servicer (to the extent not previously retained) the servicing compensation to which it is entitled pursuant to Section 5.08; (ii) to reimburse the Master Servicer for unreimbursed Servicing Advances made by it in connection with the Qualified Loans, only from amounts received with respect to the Qualified Loans in respect of which any such Servicing Advance was made; (iii) to withdraw any amount deposited in the Collection Account or the Investment Account and not required to be deposited therein; (iv) to reimburse the Master Servicer for costs and expenses incurred by it and reimbursable pursuant hereto; and (v) to remit all remaining amounts to the Purchaser on each Distribution Date.
Permitted Withdrawals from the Collection Account. If at any time funds on deposit in the Holding Account are insufficient to satisfy the Servicer withdrawal requests referred to in Section 2.07(c) hereof, and so long as no Event of Default or Trigger Event shall have occurred and be continuing, the Servicer may request withdrawal of such deficiency from the Collection Account, and upon receipt of such written request, the Trustee shall withdraw the amount of such deficiency from the Collection Account and make the requested payments to the Servicer, provided that such payments shall not be made within six Business Days of a Payment Date.
Permitted Withdrawals from the Collection Account. The Central Servicer may, from time to time as provided herein, make withdrawals from the Collection Account for the following purposes: (i) to reimburse itself for previously unreimbursed Advances, the Central Servicer's right to withdraw amounts pursuant to this clause (i) being limited to amounts received on particular Qualified Loans which represent late recoveries of Installment Payments respecting which any such Advance was made; (ii) to reimburse itself for any Nonrecoverable Advance, and to pay to itself or to any other person or entity designated in the related Servicing Contract any income from Eligible Investments in the Collection Account; (iii) to pay to Farmer Mac on xx xefore each Certificate Account Deposit Date for deposit in the Certificate Account all amounts at the time held in the Collection Account other than amounts held therein which consist of Amounts held for Future Distribution; (iv) to pay to Farmer Mac on x xxxxy basis any amounts held in the Collection Account which are allocable to a Certificate Distribution Amount and which were delinquent as of the Certificate Account Deposit Date next preceding the related Distribution Date and were not represented by any related Advance; and (v) to withdraw such other amounts for such other purposes as shall be specified in the related Issue Supplement, Servicing Contract or Loan Sale Agreement.
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Permitted Withdrawals from the Collection Account. The Servicer may, from time to time, make withdrawals from the Collection Account for the following purposes: i. to make payments to the Owner in the amounts and in the manner provided for in Section 6.02; ii. to pay itself for unreimbursed Servicing Advances, fees, and expenses prior to making payments to the Owner in the amounts and in the manner provided for in Section 6.02; iii. to pay to itself for unreimbursed Servicing Fees and any interest earned on funds in the Collection Account; iv. to pay itself, after liquidation of a Mortgage Loan, any accrued and unpaid Servicing Fees and Servicing Advances with respect to such liquidated Mortgage Loan; v. to reimburse the Advance Reserve Account for the payment of Servicing Fees upon a payment received for Performing Loans or upon the passing of the scheduled Mortgage Loan Due Date for non-performing loans. vi. to pay itself Ancillary Income; vii. to reimburse itself for any Non-recoverable Advance; viii. to remove funds inadvertently placed in the Collection Account in error by the Servicer or for which amounts previously deposited are returned unpaid due to a "not sufficient funds" or other denial by the obligor's banking institution; and ix. to clear and terminate the Collection Account upon the termination of this Agreement.
Permitted Withdrawals from the Collection Account. The Servicer may, from time to time, withdraw from the Collection Account for the following purposes: (i) to remit to the Trustee for deposit in the Distribution Account the amounts required to be so remitted pursuant to Section 3.04(b) or permitted to be so remitted pursuant to the first sentence of Section 3.04(d); (ii) to reimburse itself for Advances and Servicing Advances made pursuant to Section 3.01, 3.03 or 4.07, the Servicer's right to reimburse itself pursuant to this subclause (ii) being limited to amounts received on the related Mortgage Loan which represent payments of principal and/or interest respecting which any such advance was made; (iii) to reimburse itself for unreimbursed Servicing Advances, any unpaid Servicing Fees and for unreimbursed Advances made pursuant to Section 4.07 to the extent that such amounts are deemed to be Nonrecoverable Advances, and to reimburse itself for such amounts to the extent that such amounts are nonrecoverable from the disposition of REO Property pursuant to Section 3.03 or Section 3.13 hereof; (iv) to reimburse itself for any amounts paid pursuant to Section 6.03 (and not otherwise previously reimbursed); (v) to pay to itself as servicing compensation (a) any interest earned on funds in the Collection Account (all such interest to be withdrawn monthly not later than each Servicer Remittance Date) and (b) the Servicing Fee from that portion of any payment or recovery as to interest to a particular Mortgage Loan to the extent not retained pursuant to Section 3.04(ii); and (vi) to clear and terminate the Collection Account upon the termination of this Agreement. The foregoing requirements for withdrawal from the Collection Account shall be exclusive. In the event the Servicer shall deposit in the Collection Account any amount not required to be deposited therein, it may at any time withdraw such amount from the Collection Account, any provision herein to the contrary notwithstanding.
Permitted Withdrawals from the Collection Account. Countrywide Servicing may, from time to time, withdraw from the Collection Account for the following purposes:
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