Common use of Permitted Withdrawals From the Protected Account Clause in Contracts

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMC, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds for each Loan Group (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds for each Loan Group collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.19 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. If the Master Servicer fails to remit any funds due by the time designated herein, the Master Servicer shall pay to the Trustee, out of its own funds, interest accrued at the prime rate as set forth in the Wall Street Journal, from and including the applicable due date, to but excluding the day such funds are paid to the Trustee. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer may from time to time make withdrawals from the Protected Account with respect to the related Loan Group for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the related Mortgage Loans, ; provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.19 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. If the Master Servicer fails to remit any funds due by the time designated herein, the Master Servicer shall pay to the Trustee, out of its own funds, interest accrued at the prime rate as set forth in the Wall Street Journal, from and including the applicable due date, to but excluding the day such funds are paid to the Trustee. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s Company's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent RecoveriesInsurance Proceeds) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s Company's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.21 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable required to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, be withdrawn therefrom pursuant to the extent on deposit, and the Trustee shall deposit such amount in the Distribution AccountSection 5.04 hereof. In addition, on or before the Distribution Account Deposit Remittance Date, the Master Servicer Company shall remit to the Trustee Master Servicer for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer Company with respect to the EMC Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Sponsor, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.19 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer may from time to time make withdrawals from the Protected Account with respect to the related Loan Group for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the related Mortgage Loans, ; provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.19 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.19 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent RecoveriesInsurance Proceeds) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.20 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in EMC’s Protected Account by EMC on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s Company's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent RecoveriesInsurance Proceeds) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s Company's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.21 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable required to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, be withdrawn therefrom pursuant to the extent on deposit, and the Trustee shall deposit such amount in the Distribution AccountSection 5.04 hereof. In addition, on or before the Distribution Account Deposit Remittance Date, the Master Servicer Company shall remit to the Trustee Master Servicer for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer Company with respect to the Company Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.103.13, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.103.13; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (viv) to pay to EMCEMC (in its capacity as Seller), the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.05 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (viivi) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viiivii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ixviii) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. Eastern 1:00 p.m. New York City time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collectedMaster Servicer, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest the amount required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus two percentage points, but in no event greater that the maximum amount permitted by applicable law. Such interest shall be remitted to the Master Servicer on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee Master Servicer an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMC, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds for each Loan Group (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds for each Loan Group collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master EMC Servicer may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself to the EMC Servicer (to the extent not previously paid to or withheld by the Master EMC Servicer), as servicing compensation in accordance with Section 3.101.16 of this Exhibit K, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.101.16 of this Exhibit K; (ii) to reimburse the Master EMC Servicer for Advances made by it with respect to the EMC Mortgage Loans, provided, however, that the Master EMC Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master EMC Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master EMC Servicer that, in the good faith judgment of the Master EMC Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master EMC Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master EMC Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master EMC Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor, the Master Servicer or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.20 of this the Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master EMC Servicer pursuant to Section Sections 3.03, 7.01, 7.03, 7.04 and 9.05 of this the Agreement; (viii) to withdraw pursuant to Section 4.01 1.05 of this Exhibit K any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this the Agreement pursuant to Section 10.01 hereof. thereof. (b) In addition, no later than 10:00 a.m. Eastern 1:00 p.m. Central time on the Distribution Account Deposit DateServicer Remittance Date for the EMC Servicer, the Master EMC Servicer shall withdraw from the Protected Account and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee Master Servicer shall deposit such amount in the Distribution Master Servicer Collection Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master EMC Servicer shall keep and maintain separate accounting, on a an EMC Mortgage Loan by EMC Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master EMC Servicer shall deliver to the Trustee Master Servicer an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master EMC Servicer to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance. (c) [Reserved]

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.103.13, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.103.13; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (viv) to pay to EMCEMC (in its capacity as Seller), the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.05 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (viivi) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viiivii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ixviii) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. Eastern 1:00 p.m. New York City time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collectedMaster Servicer, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest the amount required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be remitted to the Master Servicer on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to EMC. Such interest shall be remitted along with the Mortgage Loansdistribution payable on the next succeeding Remittance Date. Furthermore, on each Distribution Account Deposit Date, the Master Servicer The payment by EMC of any such interest shall remit to the Trustee all Prepayment Charges collected by the Master Servicer not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee Master Servicer an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the related Mortgage Loans, ; provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.19 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. If the Master Servicer fails to remit any funds due by the time designated herein, the Master Servicer shall pay to the Trustee, out of its own funds, interest accrued at the prime rate as set forth in the Wall Street Journal, from and including the applicable due date, to but excluding the day such funds are paid to the Trustee. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.20 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account Accounts and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in EMC’s Protected Account by EMC on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s Company's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent RecoveriesInsurance Proceeds) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s Company's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.21 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made withdrawn therefrom pursuant to Section 5.04 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in EMC's Protected Account by EMC on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s Company's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent RecoveriesInsurance Proceeds) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s Company's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.20 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in EMC's Protected Account by EMC on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.103.13, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.103.13; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in the related Loan Group in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); provided that such reimbursement pursuant to this subclause shall be limited amount received from EMC Mortgage Loans in the related Loan Group from with such Servicing Advance was made; (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (viv) to pay to EMCEMC (in its capacity as Sponsor), the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.05 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (viivi) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viiivii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ixviii) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. Eastern 1:00 p.m. New York City time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collectedMaster Servicer, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest the amount required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus two percentage points, but in no event greater that the maximum amount permitted by applicable law. Such interest shall be remitted to the Master Servicer on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee Master Servicer an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.103.14, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.103.14; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.02 or 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section Sections 3.03, 7.01, 7.03, 7.04 and 9.05 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (ciii) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans; provided that the Master Servicer will not be required to make any payments in respect of Compensating Interest on the National City Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period and any Master Servicer Prepayment Charge Payment Amounts required to be made by the Master Servicer in connection with any Prepayment Charges waived by the Master Servicer during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.20 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account Accounts and remit to the Trustee Securities Administrator the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made withdrawn therefrom pursuant to Sections 4.01 and 5.05 hereof. With respect to any remittance received by the Master Servicer Securities Administrator from EMC after the date on which such remittance was due, EMC shall pay to the Securities Administrator interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in EMC’s Protected Account by EMC on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, Encore Credit Corp. or People's Choice, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds for each Loan Group (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds for each Loan Group collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Required Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor, Encore, or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement or Section 8 of the Mortgage Loan Purchase Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds for each Loan Group (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds for each Loan Group collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s Company's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent RecoveriesInsurance Proceeds) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s Company's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.21 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable required to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, be withdrawn therefrom pursuant to the extent on deposit, and the Trustee shall deposit such amount in the Distribution AccountSection 5.04 hereof. In addition, on or before the Distribution Account Deposit Remittance Date, the Master Servicer Company shall remit to the Trustee Master Servicer for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer Company with respect to the EMC Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.21 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account Accounts and remit to the Trustee Securities Administrator the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer Securities Administrator from EMC after the date on which such remittance was due, EMC shall pay to the Securities Administrator interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in EMC’s Protected Account by EMC on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent RecoveriesInsurance Proceeds) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Required Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds for each Loan Group (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds for each Loan Group collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.103.13, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.103.13; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCEMC (in its capacity as a Seller), the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.05 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. Eastern 1:00 p.m. New York City time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collectedMaster Servicer, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest the amount required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus two percentage points, but in no event greater that the maximum amount permitted by applicable law. Such interest shall be remitted to the Master Servicer on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. The payment by EMCof any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee Master Servicer an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMC, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and; (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof; and (x) to pay the LPMI Insurer the LPMI Insurer Fee. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds for each Loan Group (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds for each Loan Group collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.103.13, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.103.13; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in the related Loan Group in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); provided that such reimbursement pursuant to this subclause shall be limited amount received from EMC Mortgage Loans in the related Loan Group from with such Servicing Advance was made; (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCEMC (in its capacity as a Seller), the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.05 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. Eastern 1:00 p.m. New York City time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collectedMaster Servicer, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest the amount required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus two percentage points, but in no event greater that the maximum amount permitted by applicable law. Such interest shall be remitted to the Master Servicer on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee Master Servicer an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Liquidated Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.21 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. Nothwithstanding the foregoing, the Company’s right to reimbursement pursuant to clauses (ii), (iii), (iv) and (v) above shall be subject to the prior approval of the Master Servicer. The Master Servicer shall provide such approval or denial to the Company no later than thirty (30) days after receipt of such claim; provided, however, the Company submits such claim with all supporting documentation. Pending such approval, such funds shall be remitted by the Company to the Master Servicer as set forth in the following paragraph. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account Accounts and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from the Company after the date on which such remittance was due, the Company shall pay to the Master Servicer interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in the Company’s Protected Account by the Company on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by the Company of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodCompany. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.103.12, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.103.12; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Sponsor, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.05 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. Eastern 1:00 p.m. New York City time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collectedMaster Servicer, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest the amount required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus two percentage points, but in no event greater that the maximum amount permitted by applicable law. Such interest shall be remitted to the Master Servicer on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee Master Servicer an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master EMC Servicer may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself to the EMC Servicer (to the extent not previously paid to or withheld by the Master EMC Servicer), as servicing compensation in accordance with Section 3.101.16 of this Exhibit K, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.101.16 of this Exhibit K; (ii) to reimburse the Master EMC Servicer for Advances made by it with respect to the EMC Mortgage Loans, provided, however, that the Master EMC Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master EMC Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master EMC Servicer that, in the good faith judgment of the Master EMC Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master EMC Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master EMC Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master EMC Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor, the Master Servicer or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.20 of this the Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master EMC Servicer pursuant to Section Sections 3.03, 7.01, 7.03, 7.04 and 9.05 of this the Agreement; (viii) to withdraw pursuant to Section 4.01 1.05 of this Exhibit K any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this the Agreement pursuant to Section 10.01 hereof. thereof. (b) In addition, no later than 10:00 a.m. Eastern 1:00 p.m. Central time on the Distribution Account Deposit DateServicer Remittance Date for the EMC Servicer, the Master EMC Servicer shall withdraw from the Protected Account and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee Master Servicer shall deposit such amount in the Distribution Master Servicer Collection Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master EMC Servicer shall keep and maintain separate accounting, on a an EMC Mortgage Loan by EMC Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master EMC Servicer shall deliver to the Trustee Master Servicer an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master EMC Servicer to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance. (c) [Reserved]

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Sponsor, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.19 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s Company's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s Company's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.02 or 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 Sections 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable required to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, be withdrawn therefrom pursuant to the extent on deposit, and the Trustee shall deposit such amount in the Distribution AccountSection 5.04 hereof. In addition, on or before the Distribution Account Deposit Remittance Date, the Master Servicer Company shall remit to the Trustee Master Servicer for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer Company with respect to the EMC Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master EMC Servicer may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself to the EMC Servicer (to the extent not previously paid to or withheld by the Master EMC Servicer), as servicing compensation in accordance with Section 3.101.16 of this Exhibit K, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.101.16 of this Exhibit K; (ii) to reimburse the Master EMC Servicer for Advances made by it with respect to the EMC Mortgage Loans, provided, however, that the Master EMC Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master EMC Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master EMC Servicer that, in the good faith judgment of the Master EMC Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master EMC Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master EMC Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master EMC Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor, the Master Servicer or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.20 of this the Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master EMC Servicer pursuant to Section Sections 3.03, 7.01, 7.03, 7.04 and 9.05 of this the Agreement; (viii) to withdraw pursuant to Section 4.01 1.05 of this Exhibit K any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this the Agreement pursuant to Section 10.01 hereof. thereof. (b) In addition, no later than 10:00 a.m. Eastern 1:00 p.m. Central time on the Distribution Account Deposit DateServicer Remittance Date for the EMC Servicer, the Master EMC Servicer shall withdraw from the Protected Account and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee Master Servicer shall deposit such amount in the Distribution Master Servicer Collection Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master EMC Servicer shall keep and maintain separate accounting, on a an EMC Mortgage Loan by EMC Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master EMC Servicer shall deliver to the Trustee Master Servicer an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master EMC Servicer to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Sponsor, the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.21 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account Accounts and remit to the Trustee Securities Administrator the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer Securities Administrator from EMC after the date on which such remittance was due, EMC shall pay to the Securities Administrator interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in EMC’s Protected Account by EMC on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself or Encore Credit Corp., as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds for each Loan Group (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds for each Loan Group collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.103.13, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.103.13; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCEMC (in its capacity as a Seller), the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.05 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. Eastern 1:00 p.m. New York City time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collectedMaster Servicer, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest the amount required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus two percentage points, but in no event greater that the maximum amount permitted by applicable law. Such interest shall be remitted to the Master Servicer on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee Master Servicer an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.103.13, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.103.13; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); provided that such reimbursement pursuant to this subclause shall be limited to amounts received from EMC Mortgage Loans from which such Servicing Advance was made; (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which any such Servicing Advances were made; (viv) to pay to EMCEMC (in its capacity as Seller), the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.05 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (viivi) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viiivii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ixviii) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. Eastern 1:00 p.m. New York City time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collectedMaster Servicer, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest the amount required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus two percentage points, but in no event greater that the maximum amount permitted by applicable law. Such interest shall be remitted to the Master Servicer on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee Master Servicer an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s Company's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s Company's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.02 or 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable required to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, be withdrawn therefrom pursuant to the extent on deposit, and the Trustee shall deposit such amount in the Distribution AccountSection 5.04 hereof. In addition, on or before the Distribution Account Deposit Remittance Date, the Master Servicer Company shall remit to the Trustee Master Servicer for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer Company with respect to the EMC Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time time, make withdrawals from the Protected Account Accounts for the following purposes: (i) to pay to itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.1013.15, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.1013.15; (ii) to reimburse the Master Servicer itself for Advances made by it (or to reimburse the Advance Financing Person for Advances made by it) with respect to the Mortgage Loans, provided, however, that the Master Servicer’s such right of reimbursement pursuant to this subclause (ii) shall be being limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceedscondemnation proceeds, Insurance Proceeds and Subsequent RecoveriesLiquidation Proceeds) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer itself for any Non-Recoverable Advance previously made portion of a and any Non-Recoverable Servicing Advance or an Advance Advances previously made by to the Master Servicer extent that, in the good faith judgment case of Non-Recoverable Servicing Advances, reimbursement therefor constitutes "unanticipated expenses" within the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (vmeaning of Treasury Regulation Section 1.860G-1(b)(3)(ii); (iv) to pay to itself earnings on or investment income with respect to funds in or credited to the applicable Protected Account; (v) to reimburse the Master Servicer itself from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (vvi) [reserved]; (vii) to pay the Master Servicer to itself any unpaid Servicing Fees and to reimburse it itself for any unreimbursed Servicing AdvancesAdvances (to the extent that reimbursement for Servicing Advances would constitute an "unanticipated expense" within the meaning of Treasury Regulation Section 1.860-1(b)(3)(ii)), provided, however, that the Master Servicer’s Company's right to reimbursement for of Servicing Advances pursuant to this subclause (vvi) with respect to any Mortgage Loan shall be being limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances advances were mademade pursuant to Section 13.01 or Section 13.06; (viviii) to pay to EMCitself any unpaid Servicing Fees for any Mortgage Loan upon such Mortgage Loan being charged off and upon termination of the Company's obligations; (ix) to pay to the Depositor or to itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement13.12, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (viix) to pay reimburse itself, the Trustee or the Depositor for expenses incurred by any expenses recoverable by of them in connection with the Master Servicer Mortgage Loans or Certificates and reimbursable pursuant to Section 7.04 13.04, Section 13.19 or Section 14.04 hereof provided that reimbursement therefor would constitute "unanticipated" expenses within the meaning of this AgreementTreasury Regulation Section 1.860G-1(b)(3)(ii); (viiixi) to reimburse the Trustee for enforcement expenses reasonably incurred in respect of a breach or defect giving rise to the purchase obligation in Section 2.06 that were incurred in the Purchase Price of the Mortgage Loans including any expenses arising out of the enforcement of the purchase obligation; provided that any such expenses will be reimbursable under this subclause (xi) only to the extent that such expenses would constitute "unanticipated expenses" within the meaning of Treasury Regulation Section 1.860G-1(b)(3)(ii) if paid by one of the REMICs provided for herein; (xii) [reserved]; (xiii) to withdraw pursuant to Section 4.01 13.05 any amount deposited in the Protected Account Accounts and not required to be deposited therein; and (ixxiv) to clear and terminate the Protected Account Accounts upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw Company will use commercially reasonable efforts to cause to be withdrawn from the Protected Account no later than 2:30 p.m. Eastern Time, but in any case no later than 3:00 p.m. Eastern Time on the Servicer Remittance Date, the Interest Funds and remit the Principal Funds (for this purpose only, neither Interest Funds nor Principal Funds shall include a deduction for any amount reimbursable to the Trustee unless such amounts have actually been reimbursed from such funds at the amount discretion of the applicable Servicer and the calculation of the Interest Funds and Principal Funds shall not include item (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c7) of the definition thereof contained in Article I of this AgreementInterest Funds and item (C) and of the definition of Principal Funds collectedFunds), to the extent on deposit, and the Trustee shall deposit such amount shall be deposited in the Distribution Master Servicer Collection Account; provided, however, if the Master Servicer does not receive such Interest Funds and Principal Funds by 3:00 p.m. Eastern Time, such Interest Funds and Principal Funds shall be deposited in the Master Servicer Collection Account on the next Business Day. In addition, the event such funds are not deposited by 3:00 p.m. Eastern Time on or before the Distribution Account Deposit Servicer Remittance Date, the Master Servicer Company shall remit pay, out of its own funds, interest on such amount at a rate equal to the Trustee then current "prime rate" (as published by Wells Fargo Bank, N.A.) for deposit each date or part thereof until such amounx xx paid in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Periodfull. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the applicable Protected Account Account. The Company shall provide written notification to the Master Servicer on or prior to the next succeeding Servicer Remittance Date upon making any withdrawals from the Protected Accounts pursuant to subclauses (i), (ii), (iv), (v), (viiii) and (vii) above. Prior Unless otherwise specified, any amounts reimbursable to making any withdrawal the Company from amounts on deposit in the Protected Account pursuant Accounts shall be deemed to subclause (iii)come from first, the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance Interest Funds, and identifying thereafter, Principal Funds for the related Mortgage Loan(s), and their respective portions of such Nonrecoverable AdvanceDistribution Date.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v), upon prior approval from the Master Servicer. The Master Servicer shall provide such approval or denial to the Company no later than thirty (30) days after reeipt of such claim; provided, however, such claim must be complete with all supporting documentation; (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.21 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account Accounts and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from the Company after the date on which such remittance was due, the Company shall pay to the Master Servicer interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in the Company’s Protected Account by the Company on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by the Company of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodCompany. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The EMC Master Servicer may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself to the EMC Master Servicer (to the extent not previously paid to or withheld by the EMC Master Servicer), as servicing compensation in accordance with Section 3.101.16 of this Exhibit K, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.101.16 of this Exhibit K; (ii) to reimburse the EMC Master Servicer for Advances made by it with respect to the EMC Mortgage Loans, provided, however, that the EMC Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the EMC Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the EMC Master Servicer that, in the good faith judgment of the EMC Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the EMC Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the EMC Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the EMC Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor, the Xxxxx Master Servicer or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.20 of this the Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the EMC Master Servicer pursuant to Section Sections 3.03, 7.01, 7.03, 7.04 and 9.05 of this the Agreement; (viii) to withdraw pursuant to Section 4.01 1.05 of this Exhibit K any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this the Agreement pursuant to Section 10.01 hereofthereof. In addition, no later than 10:00 a.m. Eastern 1:00 p.m. Central time on the Distribution Account Deposit Date, the EMC Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The EMC Master Servicer shall keep and maintain separate accounting, on a an EMC Mortgage Loan by EMC Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the EMC Master Servicer shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the EMC Master Servicer to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance. (b) [Reserved]

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited (1) to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was mademade or (2) to the extent of Amounts Held for Future Distributions; provided, however, any such Amounts Held For Future Distribution so applied to reimburse the Company shall be replaced by the Company by deposit in the Protected Account, no later than the close of business on the Remittance Date immediately preceding the Distribution Date on which such funds are required to be distributed pursuant to this Agreement and only to the extent there are not funds otherwise available in the Protected Account to make a required distribution on such Distribution Date; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Liquidated Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited (1) to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were mademade or (2) to the extent of Amounts Held for Future Distributions; provided, however, any such Amounts Held For Future Distribution so applied to reimburse the Company shall be replaced by the Company by deposit in the Protected Account, no later than the close of business on the Remittance Date immediately preceding the Distribution Date on which such funds are required to be distributed pursuant to this Agreement and only to the extent there are not funds otherwise available in the Protected Account to make a required distribution on such Distribution Date; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.21 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; (ix) to reimburse the Company for any unreimbursed Advance or Servicing Advance made with respect to a Mortgage Loan for which a Servicing Modification was made and any unreimbursed Capitalization Reimbursement Amount, in each case only to the extent of any Principal Funds related to such Mortgage Loans that are on deposit in the Protected Account; and (ixx) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. Notwithstanding the foregoing, the Company’s right to reimbursement pursuant to clauses (ii), (iii), (iv) and (v) above shall be subject to the prior approval of the Master Servicer. The Master Servicer shall provide such approval or denial to the Company no later than thirty (30) days after receipt of such claim; provided, however, the Company submits such claim with all supporting documentation. Pending such approval, such funds shall be remitted by the Company to the Master Servicer as set forth in the following paragraph. In addition, no later than 10:00 a.m. Eastern time 2:00 p.m. Central Standard Time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account Accounts and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from the Company after the date on which such remittance was due, the Company shall pay to the Master Servicer interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in the Company’s Protected Account by the Company on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by the Company of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodCompany. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.21 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account Accounts and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from the Company after the date on which such remittance was due, the Company shall pay to the Master Servicer interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in the Company’s Protected Account by the Company on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by the Company of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodCompany. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, ; provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.19 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. If the Master Servicer fails to remit any funds due by the time designated herein, the Master Servicer shall pay to the Trustee, out of its own funds, interest accrued at the prime rate as set forth in the Wall Street Journal, from and including the applicable due date, to but excluding the day such funds are paid to the Trustee. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s Company's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s Company's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Sponsor, the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.20 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account Accounts and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in EMC's Protected Account by EMC on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer may may, from time to time time, make withdrawals from the Protected Account for the following purposes: (i) to pay itself (remit to the extent not previously paid to or withheld Securities Administrator, by the Master Servicer)Servicer Remittance Date, all amounts required to be deposited in the Protected Account as servicing compensation in accordance with Section 3.10, that portion of any payment the close of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, business as additional servicing compensation, those other amounts set forth in Section 3.105.01; (ii) to reimburse itself for Monthly Advances, the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s right of reimbursement to reimburse itself pursuant to this subclause (ii) shall be being limited to amounts received on particular the related Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that Loan which represent late recoveries collections (net of payments the related Servicing Fees) of principal and/or interest on such particular Mortgage Loan(s) in respect of respecting which any such Monthly Advance was made; (iii) to reimburse the Master Servicer itself for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances and Monthly Advances, provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances reimburse itself pursuant to this subclause (viii) with respect to any Mortgage Loan shall be being limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Condemnation Proceeds, Subsequent Recoveries and purchase Insurance Proceeds and repurchase proceedsREO Disposition Proceeds related to such Mortgage Loan; (iv) that represent late recoveries of to pay to itself as servicing compensation (a) any interest earned on funds in the payments for Protected Account (all such interest to be withdrawn monthly not later than each Remittance Date) and (b) any Servicing Fee to which the Servicer is entitled in accordance with the terms hereof to the extent such Servicing Advances were madeFee has not been paid to or retained by the Servicer; (v) to reimburse itself for any Nonrecoverable Advances; (vi) to pay transfer funds to EMC, another Qualified Depository in accordance with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan4.09 hereof; (vii) to pay any expenses recoverable remove funds deposited in the Protected Account in error by the Master Servicer pursuant to Section 7.04 of this AgreementServicer; (viii) to withdraw pursuant to reimburse itself as provided in Section 4.01 any amount deposited in the Protected Account 8.01 and not required to be deposited thereinSection 8.03 hereof; and (ix) to clear and terminate the Protected Account upon the termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the related Mortgage Loans, ; provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.19 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; (ix) to reimburse the Master Servicer for any unreimbursed Capitalization Reimbursement Amount; and (ixx) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. If the Master Servicer fails to remit any funds due by the time designated herein, the Master Servicer shall pay to the Trustee, out of its own funds, interest accrued at the prime rate as set forth in the Wall Street Journal, from and including the applicable due date, to but excluding the day such funds are paid to the Trustee. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.20 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account required to be withdrawn therefrom pursuant to Section 5.08 hereof. With respect to any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and remittance received by the Trustee shall deposit from the Master Servicer after the date on which such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Dateremittance was due, the Master Servicer shall remit pay to the Trustee for deposit interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in the Distribution Protected Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by the Master Servicer of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodServicer. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds for each Loan Group (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds for each Loan Group collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited (1) to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was mademade or (2) to the extent of Amounts Held for Future Distributions; provided, however, any such Amounts Held For Future Distribution so applied to reimburse the Company shall be replaced by the Company by deposit in the Protected Account, no later than the close of business on the Remittance Date immediately preceding the Distribution Date on which such funds are required to be distributed pursuant to this Agreement and only to the extent there are not funds otherwise available in the Protected Account to make a required distribution on such Distribution Date; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Liquidated Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited (1) to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were mademade or (2) to the extent of Amounts Held for Future Distributions; provided, however, any such Amounts Held For Future Distribution so applied to reimburse the Company shall be replaced by the Company by deposit in the Protected Account, no later than the close of business on the Remittance Date immediately preceding the Distribution Date on which such funds are required to be distributed pursuant to this Agreement and only to the extent there are not funds otherwise available in the Protected Account to make a required distribution on such Distribution Date; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.21 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. Nothwithstanding the foregoing, the Company’s right to reimbursement pursuant to clauses (ii), (iii), (iv) and (v) above shall be subject to the prior approval of the Master Servicer. The Master Servicer shall provide such approval or denial to the Company no later than thirty (30) days after receipt of such claim; provided, however, the Company submits such claim with all supporting documentation. Pending such approval, such funds shall be remitted by the Company to the Master Servicer as set forth in the following paragraph. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account Accounts and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from the Company after the date on which such remittance was due, the Company shall pay to the Master Servicer interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in the Company’s Protected Account by the Company on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by the Company of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodCompany. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself to the EMC Servicer (to the extent not previously paid to or withheld by the Master EMC Servicer), as servicing compensation in accordance with Section 3.101.16 of this Exhibit K, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.101.16 of this Exhibit K; (ii) to reimburse the Master EMC Servicer for Advances made by it with respect to the EMC Mortgage Loans, provided, however, that the Master EMC Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master EMC Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master EMC Servicer that, in the good faith judgment of the Master EMC Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master EMC Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master EMC Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master EMC Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor, the Master Servicer or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.20 of this the Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master EMC Servicer pursuant to Section Sections 3.03, 7.01, 7.03, 7.04 and 9.05 of this the Agreement; (viii) to withdraw pursuant to Section 4.01 1.05 of this Exhibit K any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this the Agreement pursuant to Section 10.01 hereof. thereof. (b) In addition, no later than 10:00 a.m. Eastern 1:00 p.m. Central time on the Distribution Account Deposit DateServicer Remittance Date for the EMC Servicer, the Master EMC Servicer shall withdraw from the Protected Account and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee Master Servicer shall deposit such amount in the Distribution Master Servicer Collection Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master EMC Servicer shall keep and maintain separate accounting, on a an EMC Mortgage Loan by EMC Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master EMC Servicer shall deliver to the Trustee Master Servicer an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master EMC Servicer to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance. (c) [Reserved]

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Required Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.103.13, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.103.13; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (viv) to pay to EMCEMC (in its capacity as Seller), the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.05 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (viivi) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viiivii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ixviii) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. Eastern 1:00 p.m. New York City time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee Securities Administrator the amount of Interest Funds (without taking into account required to be withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any reduction in remittance received by the amount of Interest Funds attributable Securities Administrator from EMC after the date on which such remittance was due, EMC shall pay to the application of clause (c) Securities Administrator interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the definition thereof contained date of each change, plus two percentage points, but in Article I of this Agreement) and Principal Funds collected, no event greater than the maximum amount permitted by applicable law. Such interest shall be remitted to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer on the date such late payment is made and shall remit to cover the Trustee period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. The payment by EMC of any such interest shall not be deemed an extension of time for deposit in the Distribution Account payment or a waiver of any Advances or any payments Event of Compensating Interest required to be made by the Master Servicer Default with respect to EMC. Such interest shall be remitted along with the Mortgage Loansdistribution payable on the next succeeding Remittance Date. Furthermore, on each Distribution Account Deposit Date, the Master Servicer The payment by EMC of any such interest shall remit to the Trustee all Prepayment Charges collected by the Master Servicer not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee Master Servicer an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Sponsor, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master EMC Servicer may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself to the EMC Servicer (to the extent not previously paid to or withheld by the Master EMC Servicer), as servicing compensation in accordance with Section 3.101.16 of this Exhibit K, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.101.16 of this Exhibit K; (ii) to reimburse the Master EMC Servicer for Advances made by it with respect to the EMC Mortgage Loans, provided, however, that the Master EMC Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master EMC Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master EMC Servicer that, in the good faith judgment of the Master EMC Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master EMC Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master EMC Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, providedPROVIDED, howeverHOWEVER, that the Master EMC Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor, the Master Servicer or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.20 of this the Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master EMC Servicer pursuant to Section Sections 3.03, 7.01, 7.03, 7.04 and 9.05 of this the Agreement; (viii) to withdraw pursuant to Section 4.01 1.05 of this Exhibit K any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this the Agreement pursuant to Section 10.01 hereof. thereof. (b) In addition, no later than 10:00 a.m. Eastern 1:00 p.m. Central time on the Distribution Account Deposit DateServicer Remittance Date for the EMC Servicer, the Master EMC Servicer shall withdraw from the Protected Account and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee Master Servicer shall deposit such amount in the Distribution Master Servicer Collection Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master EMC Servicer shall keep and maintain separate accounting, on a an EMC Mortgage Loan by EMC Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master EMC Servicer shall deliver to the Trustee Master Servicer an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master EMC Servicer to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance. (c) [Reserved]

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (iiiv) or clause (v); (iviii) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses insured expenses covered by the related Insurance Policy; (viv) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (viv) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(sLoan (s) (including, for this purpose, Group II Liquidation Proceeds, Insurance Proceeds, Recoveries, Group II Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (viv) to pay to EMCEMC (in its capacity as a Sponsor), the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 2.02 or 3.18 3.04 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (viivi) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 6.04 of this Agreement; (vii) 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 Bankruptcy Code in accordance with a final, nonappealable order of a court having competent jurisdiction; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 8.10 hereof. In addition, no later than 10:00 a.m. Eastern 1:00 p.m. New York City time on the Distribution Account Deposit Servicer Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collectedMaster Servicer, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest the amount required to be made withdrawn therefrom pursuant to Section 5.04 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus two percentage points, but in no event greater that the maximum amount permitted by applicable law. Such interest shall be remitted to the Master Servicer on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (iiiii), (iv), (v), (vi) and (viiv) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iiiii), the Master Servicer Company shall deliver to the Trustee Master Servicer an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(sLoan (s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s Company's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s Company's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.02 or 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 Sections 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable required to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, be withdrawn therefrom pursuant to the extent on deposit, and the Trustee shall deposit such amount in the Distribution AccountSection 5.04 hereof. In addition, on or before the Distribution Account Deposit Remittance Date, the Master Servicer Company shall remit to the Trustee Master Servicer for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer Company with respect to the EMC Mortgage Loans. Furthermore, on each Distribution Account Deposit Remittance Date, the Master Servicer Company shall remit to the Trustee Master Servicer for deposit in the Master Servicer Collection Account all Prepayment Charges collected by the Master Servicer Company with respect to the EMC Mortgage Loans during the related Prepayment Period and any Prepayment Charge Payment Amounts required to be made by the Company in connection with any Prepayment Charges waived by the Company during the related Prepayment Period. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.103.11, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.103.11; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (iiiv) or clause (v); (iviii) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses insured expenses covered by the related Insurance Policy; (viv) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (viv) with respect to any Mortgage Loan HELOC shall be limited to amounts received on particular Mortgage Loan(sHELOC(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Recoveries, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (viv) to pay to EMCEMC (in its capacity as a Sponsor), the Depositor or itself, as applicable, with respect to each Mortgage Loan EMC HELOC or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 2.02 or 3.18 3.04 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage LoanEMC HELOC; (viivi) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 6.04 of this Agreement; (vii) 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 Bankruptcy Code in accordance with a final, nonappealable order of a court having competent jurisdiction; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 8.10 hereof. In addition, no later than 10:00 a.m. Eastern 1:00 p.m. New York City time on the Distribution Account Deposit Servicer Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collectedMaster Servicer, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest the amount required to be made withdrawn therefrom pursuant to Section 5.04 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus two percentage points, but in no event greater that the maximum amount permitted by applicable law. Such interest shall be remitted to the Master Servicer on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan HELOC by Mortgage Loan HELOC basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (iiiii), (iv), (v), (vi) and (viiv) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iiiii), the Master Servicer Company shall deliver to the Trustee Master Servicer an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related Mortgage Loan(sEMC HELOC(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Group I Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage EMC Group I Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”)otherwise, to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (viv) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Recoveries, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCEMC (in its capacity as a Seller), the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.04 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) 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 Bankruptcy Code in accordance with a final, nonappealable order of a court having competent jurisdiction; (ix) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ixx) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. Eastern 1:00 p.m. New York City time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collectedMaster Servicer, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest the amount required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus two percentage points, but in no event greater that the maximum amount permitted by applicable law. Such interest shall be remitted to the Master Servicer on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee Securities Administrator an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent RecoveriesInsurance Proceeds) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Sponsor, the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.21 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in EMC’s Protected Account by EMC on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds for each Loan Group (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds for each Loan Group collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, ; provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, ; provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Sponsor, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.19 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.103.14, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.103.14; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Seller or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.02 or 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section Sections 3.03, 7.01, 7.03, 7.04 and 9.05 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Available Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Group I Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage EMC Group I Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds Proceeds, or otherwise (a “Nonrecoverable Advance”)otherwise, to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (viv) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Recoveries, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCEMC (in its capacity as a Seller), the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.04 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) 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 Bankruptcy Code in accordance with a final, nonappealable order of a court having competent jurisdiction; (ix) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ixx) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. Eastern 1:00 p.m. New York City time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collectedMaster Servicer, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest the amount required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus two percentage points, but in no event greater that the maximum amount permitted by applicable law. Such interest shall be remitted to the Master Servicer on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (iiiii), (iv), (v), (vi) and (viiv) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iiiii), the Master Servicer Company shall deliver to the Trustee Securities Administrator an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Required Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds for each Loan Group (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds for each Loan Group collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer may Subservicer may, from time to time time, make withdrawals from the Protected Account for the following purposes: (i) to pay itself (make payments to the extent not previously paid to or withheld by Company in the Master Servicer), as servicing compensation amounts and in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee manner provided for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.105.01; (ii) to reimburse itself for Monthly Advances, the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerSubservicer’s right of reimbursement to reimburse itself pursuant to this subclause (ii) shall be being limited to amounts received on particular the related Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that Loan which represent late recoveries collections (net of payments the related Servicing Fees) of principal and/or interest on such particular Mortgage Loan(s) in respect of respecting which any such Monthly Advance was made; (iii) to reimburse the Master Servicer itself for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances and Monthly Advances, provided, however, that the Master ServicerSubservicer’s right to reimbursement for Servicing Advances reimburse itself pursuant to this subclause (viii) with respect to any Mortgage Loan shall be being limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Condemnation Proceeds, Subsequent Recoveries and purchase Insurance Proceeds and repurchase proceedsREO Disposition Proceeds related to such Mortgage Loan; (iv) that represent late recoveries of to pay to itself as servicing compensation (a) any interest earned on funds in the payments for Protected Account (all such interest to be withdrawn monthly not later than each Remittance Date) and (b) any Servicing Fee to which the Subservicer is entitled in accordance with the terms hereof to the extent such Servicing Advances were madeFee has not been paid to or retained by the Subservicer; (v) to reimburse itself for any Nonrecoverable Advances; (vi) to pay transfer funds to EMC, another Qualified Depository in accordance with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan4.09 hereof; (vii) to pay any expenses recoverable remove funds deposited in the Protected Account in error by the Master Servicer pursuant to Section 7.04 of this AgreementSubservicer; (viii) to withdraw pursuant to reimburse itself as provided in Section 4.01 any amount deposited in the Protected Account 8.01 and not required to be deposited thereinSection 8.03 hereof; and (ix) to clear and terminate the Protected Account upon the termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Each Servicer may from time to time time, make withdrawals from the Protected Account Accounts for the following purposes: (i) to pay itself to the applicable Servicer (to the extent not previously paid to or withheld by the Master applicable Servicer), as servicing compensation in accordance with Section 3.1013.15, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.1013.15; (ii) to reimburse the Master applicable Servicer for Advances made by it (or to reimburse the Advance Financing Person for Advances made by it) with respect to the Mortgage Loans, provided, however, that the Master Servicer’s such right of reimbursement pursuant to this subclause (ii) shall be being limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master applicable Servicer for any Non-Recoverable Advance previously made portion of a and any Non-Recoverable Servicing Advance or an Advance Advances previously made by to the Master Servicer extent that, in the good faith judgment case of Non-Recoverable Servicing Advances, reimbursement therefor constitutes "unanticipated expenses" within the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (vmeaning of Treasury Regulation Section 1.860G-1(b)(3)(ii); (iv) to pay to the applicable Servicer earnings on or investment income with respect to funds in or credited to the applicable Protected Account; (v) to reimburse the Master applicable Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (vvi) [reserved]; (vii) to pay to the Master applicable Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing AdvancesAdvances (to the extent that reimbursement for Servicing Advances would constitute an "unanticipated expense" within the meaning of Treasury Regulation Section 1.860-1(b)(3)(ii)), provided, however, that the Master applicable Servicer’s 's right to reimbursement for of Servicing Advances pursuant to this subclause (vvi) with respect to any Mortgage Loan shall be being limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances advances were mademade pursuant to Section 13.01 or Section 13.06; (viviii) to pay the applicable Servicer any unpaid Servicing Fees for any Mortgage Loan upon such Mortgage Loan being charged off and upon termination of the obligations of the Servicer; (ix) to pay to EMCthe Depositor or the applicable Servicer, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement13.12, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (viix) to pay reimburse the applicable Servicer, the Trustee or the Depositor for expenses incurred by any expenses recoverable by of them in connection with the Master Servicer Mortgage Loans or Certificates and reimbursable pursuant to Section 7.04 13.04, Section 13.19 or Section 14.04 hereof provided that reimbursement therefor would constitute "unanticipated" expenses within the meaning of this AgreementTreasury Regulation Section 1.860G-1(b)(3)(ii); (viiixi) to reimburse the Trustee for enforcement expenses reasonably incurred in respect of a breach or defect giving rise to the purchase obligation in Section 2.06 that were incurred in the Purchase Price of the Mortgage Loans including any expenses arising out of the enforcement of the purchase obligation; provided that any such expenses will be reimbursable under this subclause (xi) only to the extent that such expenses would constitute "unanticipated expenses" within the meaning of Treasury Regulation Section 1.860G-1(b)(3)(ii) if paid by one of the REMICs provided for herein; (xii) [reserved]; (xiii) to withdraw pursuant to Section 4.01 13.05 any amount deposited in the Protected Account Accounts and not required to be deposited therein; and (ixxiv) to clear and terminate the Protected Account Accounts upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c. A.) of the definition for each date or part thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit until such amount is paid in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Periodfull. The Master Servicer Servicers shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account applicable Protection Account. The Servicers shall provide written notification to the Master Servicer on or prior to the next succeeding Servicer Remittance Date upon making any withdrawals from the Protection Accounts pursuant to subclauses (i), (ii), (iv), (v), (viiii) and (vii) above. Prior Unless otherwise specified, any amounts reimbursable to making any withdrawal the Servicers from amounts on deposit in the Protected Account pursuant Accounts shall be deemed to subclause (iii)come from first, the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance Interest Funds, and identifying thereafter, Principal Funds for the related Mortgage Loan(s), and their respective portions of such Nonrecoverable AdvanceDistribution Date.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer may from time to time make withdrawals from the Protected Account with respect to the related Loan Group for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the related Mortgage Loans, ; provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, ; provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Sponsor, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.19 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited (1) to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was mademade or (2) to the extent of Amounts Held for Future Distributions; provided, however, any such Amounts Held For Future Distribution so applied to reimburse the Company shall be replaced by the Company by deposit in the Protected Account, no later than the close of business on the Remittance Date immediately preceding the Distribution Date on which such funds are required to be distributed pursuant to this Agreement and only to the extent there are not funds otherwise available in the Protected Account to make a required distribution on such Distribution Date; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited (1) to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were mademade or (2) to the extent of Amounts Held for Future Distributions; provided, however, any such Amounts Held For Future Distribution so applied to reimburse the Company shall be replaced by the Company by deposit in the Protected Account, no later than the close of business on the Remittance Date immediately preceding the Distribution Date on which such funds are required to be distributed pursuant to this Agreement and only to the extent there are not funds otherwise available in the Protected Account to make a required distribution on such Distribution Date; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.21 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; (ix) to reimburse the Company for any unreimbursed Advance or Servicing Advance made with respect to a Mortgage Loan for which a Servicing Modification was made and any unreimbursed Capitalization Reimbursement Amount, in each case only to the extent of any Principal Funds for any Loan Group related to such Mortgage Loans that are on deposit in the Protected Account; and (ixx) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. Notwithstanding the foregoing, the Company’s right to reimbursement pursuant to clauses (ii), (iii), (iv) and (v) above shall be subject to the prior approval of the Master Servicer. The Master Servicer shall provide such approval or denial to the Company no later than thirty (30) days after receipt of such claim; provided, however, the Company submits such claim with all supporting documentation. Pending such approval, such funds shall be remitted by the Company to the Master Servicer as set forth in the following paragraph. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee Master Servicer shall deposit such amount in the Distribution Master Servicer Collection Account. In addition, on or before the Distribution Account Deposit Remittance Date, the Master Servicer Company shall remit to the Trustee Master Servicer for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer Company with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Remittance Date, the Master Servicer Company shall remit to the Trustee Master Servicer all Prepayment Charges collected by the Master Servicer Company with respect to the Mortgage Loans during the related Prepayment Period. The With respect to any remittance received by the Master Servicer from the Company after the date on which such remittance was due, the Company shall pay to the Master Servicer, out of its own funds, interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in the Company’s Protected Account by the Company on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by the Company of any such interest shall not be deemed an extension of time for payment or a waiver of any Company Default with respect to the Company. The Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent RecoveriesInsurance Proceeds) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds for each Loan Group (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds for each Loan Group collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCEMC in its capacity as Seller, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds for each Loan Group (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds for each Loan Group collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.103.12, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.103.12; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Sponsor, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.05 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. Eastern 1:00 p.m. New York City time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collectedMaster Servicer, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest the amount required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus two percentage points, but in no event greater that the maximum amount permitted by applicable law. Such interest shall be remitted to the Master Servicer on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee Master Servicer an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master EMC Servicer may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself to the EMC Servicer (to the extent not previously paid to or withheld by the Master EMC Servicer), as servicing compensation in accordance with Section 3.101.16 of this Exhibit K, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.101.16 of this Exhibit K; (ii) to reimburse the Master EMC Servicer for Advances made by it with respect to the EMC Mortgage Loans, provided, however, that the Master EMC Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master EMC Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master EMC Servicer that, in the good faith judgment of the Master EMC Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master EMC Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master EMC Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master EMC Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor, the Master Servicer or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.20 of this the Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master EMC Servicer pursuant to Section Sections 3.03, 7.01, 7.03, 7.04 and 9.05 of this the Agreement; (viii) to withdraw pursuant to Section 4.01 1.05 of this Exhibit K any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an a Monthly Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase proceeds and repurchase proceedsRepurchase Proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Sponsor, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.20 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Scheduled Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer shall withdraw from the Protected Account Accounts and remit to the Trustee Securities Administrator the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Securities Administrator from the Servicer after the date on which such remittance was due, the Servicer shall pay to the Securities Administrator interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in the Servicer’s Protected Account by the Servicer on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. The payment by the Servicer of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodServicer. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee Master Servicer an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s Company's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s Company's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.02 or 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 Sections 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable required to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, be withdrawn therefrom pursuant to the extent on deposit, and the Trustee shall deposit such amount in the Distribution AccountSection 5.04 hereof. In addition, on or before the Distribution Account Deposit Remittance Date, the Master Servicer Company shall remit to the Trustee Master Servicer for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer Company with respect to the EMC Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee and MBIA an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent RecoveriesInsurance Proceeds) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Sponsor, the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.21 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee Securities Administrator the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer Securities Administrator from EMC after the date on which such remittance was due, EMC shall pay to the Securities Administrator interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in EMC’s Protected Account by EMC on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master ServicerCompany’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Proceeds and Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Sponsor, the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.20 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account Accounts and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made withdrawn therefrom pursuant to Section 5.05 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late remittance at an annual rate equal to the prime rate announced to be in effect from time to time as published as the average rate in The Wall Street Journal (Northeast Edition), plus two percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in EMC’s Protected Account by EMC on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent RecoveriesInsurance Proceeds) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds for each Loan Group (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds for each Loan Group collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (vii) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

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: (i) to pay itself (to the extent not previously paid to or withheld by the Master Servicer), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer for Advances (other than any Simple Interest Shortfall Advance) made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s 's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer for any previously made portion of a Servicing Advance or an Advance (other than any Simple Interest Shortfall Advance) made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (is a “Nonrecoverable Advance”), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s 's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any Mortgage Loan shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 3.18(a) of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage Loan; (vii) to pay to itself any Recovery Fee or any other amounts due pursuant to Section 3.18(b) of this Agreement; (viii) to pay any expenses recoverable by the Master Servicer pursuant to Section 7.04 of this Agreement; (viiiix) to withdraw pursuant to Section 4.01 any amount deposited in the Protected Account and not required to be deposited therein; (x) beginning in December 2004, to pay to the Seller any Seller Arrearages that are payable hereunder in accordance with the definition of Seller Arrearages; and (ixxi) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Date, the Master Servicer shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds for each Loan Group (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds for each Loan Group collected, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit DateNotwithstanding the definition of Prepayment Period, the Master Servicer shall (in its sole discretion) may remit to the Trustee all Prepayment Charges collected for deposit in the Distribution Account in any month, any Principal Prepayments in full received by the Master Servicer with respect on or before the 20th day of that month for distribution to the Mortgage Loans during Certificateholders on the related Prepayment PeriodDistribution Date in that month. The Master Servicer shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi), (vii), (viii) and (viix) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance. In addition, the Seller will deposit in the Distribution Account on the Closing Date, an amount equal to $2,758,420.14, which amount will be distributed by the Trustee to the Certificateholders on the Distribution Date occurring in November 2004, as Principal Funds and Interest Funds in the amounts of $2,746,521.35 and $11,898.79, respectively.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the its Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.10, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.10; (ii) to reimburse the Master Servicer Company for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s Company's right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent RecoveriesInsurance Proceeds) that represent late recoveries of payments of principal and/or interest on such particular EMC Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer Company that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “"Nonrecoverable Advance”"), to the extent not reimbursed pursuant to clause (ii) or clause (v); (iv) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses covered by the related Insurance Policy; (v) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master Servicer’s Company's right to reimbursement for Servicing Advances pursuant to this subclause (v) with respect to any EMC Mortgage Loan shall be limited to amounts received on particular EMC Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Subsequent Recoveries Proceeds and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (vi) to pay to EMCthe Seller, the Depositor or itself, as applicable, with respect to each EMC Mortgage Loan or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 or 3.18 4.21 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased EMC Mortgage Loan; (vii) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 8.04 of this Agreement; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 11.01 hereof. In addition, no later than 10:00 a.m. 1:00 p.m. Eastern time on the Distribution Account Deposit Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee Master Servicer the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable required to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collected, be withdrawn therefrom pursuant to the extent on deposit, and the Trustee shall deposit such amount in the Distribution AccountSection 5.04 hereof. In addition, on or before the Distribution Account Deposit Remittance Date, the Master Servicer Company shall remit to the Trustee Master Servicer for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest required to be made by the Master Servicer Company with respect to the EMC Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment Period. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (ii), (iv), (v), (vi) and (viivi) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer Company shall deliver to the Trustee an Officer’s 's Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer Company to be a Nonrecoverable Advance and identifying the related EMC Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.

Permitted Withdrawals From the Protected Account. (a) The Master Servicer Company may from time to time make withdrawals from the Protected Account for the following purposes: (i) to pay itself (to the extent not previously paid to or withheld by the Master ServicerCompany), as servicing compensation in accordance with Section 3.103.11, that portion of any payment of interest that equals the Servicing Fee for the period with respect to which such interest payment was made, and, as additional servicing compensation, those other amounts set forth in Section 3.103.11; (ii) to reimburse the Master Servicer for Advances made by it with respect to the Mortgage Loans, provided, however, that the Master Servicer’s right of reimbursement pursuant to this subclause (ii) shall be limited to amounts received on particular Mortgage Loan(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds and Subsequent Recoveries) that represent late recoveries of payments of principal and/or interest on such particular Mortgage Loan(s) in respect of which any such Advance was made; (iii) to reimburse the Master Servicer Company for any previously made portion of a Servicing Advance or an Advance made by the Master Servicer that, in the good faith judgment of the Master ServicerCompany, will not be ultimately recoverable by it from the related Mortgagor, any related Liquidation Proceeds, Insurance Proceeds or otherwise (a “Nonrecoverable Advance”)otherwise, to the extent not reimbursed pursuant to clause (iiiv) or clause (v); (iviii) to reimburse the Master Servicer Company from Insurance Proceeds for Insured Expenses insured expenses covered by the related Insurance Policy; (viv) to pay the Master Servicer Company any unpaid Servicing Fees and to reimburse it for any unreimbursed Servicing Advances, provided, however, that the Master ServicerCompany’s right to reimbursement for Servicing Advances pursuant to this subclause (viv) with respect to any Mortgage Loan HELOC shall be limited to amounts received on particular Mortgage Loan(sHELOC(s) (including, for this purpose, Liquidation Proceeds, Insurance Proceeds, Recoveries, Subsequent Recoveries and purchase and repurchase proceeds) that represent late recoveries of the payments for which such Servicing Advances were made; (viv) to pay to EMCEMC (in its capacity as a Sponsor), the Depositor or itself, as applicable, with respect to each Mortgage Loan EMC HELOC or property acquired in respect thereof that has been purchased pursuant to Section 2.02, 2.03 2.02 or 3.18 3.04 of this Agreement, all amounts received thereon and not taken into account in determining the related Stated Principal Balance of such repurchased Mortgage LoanEMC HELOC; (viivi) to pay any expenses recoverable by the Master Servicer Company pursuant to Section 7.04 6.04 of this Agreement; (vii) 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 Bankruptcy Code in accordance with a final, nonappealable order of a court having competent jurisdiction; (viii) to withdraw pursuant to Section 4.01 5.01 any amount deposited in the Protected Account and not required to be deposited therein; and (ix) to clear and terminate the Protected Account upon termination of this Agreement pursuant to Section 10.01 8.10 hereof. In addition, no later than 10:00 a.m. Eastern time on the Distribution Account Deposit Servicer Remittance Date, the Master Servicer Company shall withdraw from the Protected Account and remit to the Trustee the amount of Interest Funds (without taking into account any reduction in the amount of Interest Funds attributable to the application of clause (c) of the definition thereof contained in Article I of this Agreement) and Principal Funds collectedMaster Servicer, to the extent on deposit, and the Trustee shall deposit such amount in the Distribution Account. In addition, on or before the Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee for deposit in the Distribution Master Servicer Collection Account any Advances or any payments of Compensating Interest the amount required to be made withdrawn therefrom pursuant to Section 5.04 hereof. With respect to any remittance received by the Master Servicer from EMC after the date on which such remittance was due, EMC shall pay to the Master Servicer interest on any such late payment at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus two percentage points, but in no event greater that the maximum amount permitted by applicable law. Such interest shall be remitted to the Master Servicer on the date such late payment is made and shall cover the period commencing with the day following the date on which such remittance was due and ending with the Business Day on which such remittance is made, both inclusive. The payment by EMC of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default with respect to the Mortgage Loans. Furthermore, on each Distribution Account Deposit Date, the Master Servicer shall remit to the Trustee all Prepayment Charges collected by the Master Servicer with respect to the Mortgage Loans during the related Prepayment PeriodEMC. The Master Servicer Company shall keep and maintain separate accounting, on a Mortgage Loan HELOC by Mortgage Loan mortgage loan basis, for the purpose of justifying any withdrawal from the Protected Account pursuant to subclauses (i), (iiiii), (iv), (v), (vi) and (viiv) above. Prior to making any withdrawal from the Protected Account pursuant to subclause (iii), the Master Servicer shall deliver to the Trustee an Officer’s Certificate of a Servicing Officer indicating the amount of any previous Advance or Servicing Advance determined by the Master Servicer to be a Nonrecoverable Advance and identifying the related Mortgage Loan(s), and their respective portions of such Nonrecoverable Advance.