Common use of Prefunding Account Clause in Contracts

Prefunding Account. (a) If a Prefunding Account is specified in Article I, the Trustee will establish and maintain the Prefunding Account. No later than the Closing Date, the Trustee will deposit in the Prefunding Account the Prefunding Account Deposit from the proceeds of the sale of the Offered Certificates. Subject to this Section, upon the conveyance of Subsequent Mortgage Loans to the Trust on any Subsequent Transfer Date, the Depositor shall instruct the Trustee to withdraw from the Prefunding Account (i) an amount equal to the Subsequent Purchase Price for the Subsequent Mortgage Loans to be included in each Mortgage Loan Group and make a corresponding reduction in the amount on deposit in the Prefunding Account allocated to such Mortgage Loan Group, and to pay such amount to or upon the order of the Depositor upon satisfaction of the conditions set forth in Section 2.02 of this Agreement with respect to such transfer.

Prefunding Account. (a) If a Prefunding Account is specified in Article I, the Trustee will establish and maintain the Prefunding Account. No later than the Closing Date, the Trustee will deposit in the Prefunding Account the Prefunding Account Deposit from the proceeds of the sale of the Offered Certificates. Subject to this Section, upon the conveyance of Subsequent Mortgage Loans to the Trust on any Subsequent Transfer Date, the Depositor Seller shall instruct the Trustee to withdraw from the Prefunding Account (i) an amount equal to the Subsequent Purchase Price for the Subsequent Mortgage Loans to be included in each Mortgage Loan Group and make a corresponding reduction in the amount on deposit in the Prefunding Account allocated to such Mortgage Loan Group, and to pay such amount to or upon the order of the Depositor Seller upon satisfaction of the conditions set forth in Section 2.02 of this Agreement with respect to such transfer.

Prefunding Account. (a) If a Prefunding Account is specified in Article I, the The Trustee will establish and maintain the Prefunding Account. No later than the Closing Date, the Trustee will deposit in the Prefunding Account the Prefunding Account Deposit from the proceeds of the sale of the Offered Certificates. Subject to this Section, upon the conveyance of Subsequent Mortgage Loans to the Trust on any Subsequent Transfer Date, the Depositor Seller shall instruct the Trustee to withdraw from the Prefunding Account (i) an amount equal to the Subsequent Purchase Price for the Subsequent Mortgage Loans to be included in each Mortgage Loan Group and make a corresponding reduction in the amount on deposit in the Prefunding Account allocated to such Mortgage Loan Group, and to pay such amount to or upon the order of the Depositor Seller upon satisfaction of the conditions set forth in Section 2.02 of this Agreement with respect to such transfer.

Prefunding Account. (a) If a Prefunding Account is specified in Article I, the Trustee will establish and maintain the Prefunding Account. No later than the Closing Date, the Trustee will deposit in the Prefunding Account the Prefunding Account Deposit from the proceeds of the sale of the Offered Certificates. Subject to this Section, upon the conveyance of Subsequent Mortgage Loans to the Trust on any Subsequent Transfer Date, the Depositor shall instruct the Trustee to withdraw from the Prefunding Account (i) an amount equal to the Subsequent Purchase Price for the Subsequent Mortgage Loans to be included in each Mortgage Loan Group the Trust and make a corresponding reduction in the amount on deposit in the Prefunding Account allocated to such Mortgage Loan GroupAccount, and to pay such amount to or upon the order of the Depositor upon satisfaction of the conditions set forth in Section 2.02 of this Agreement with respect to such transfer.