Remittance Date Transfers From Collection Account Sample Clauses

Remittance Date Transfers From Collection Account. The Servicer shall, with the prior written consent of the Collateral Agent, and if the Servicer fails to do so, the Collateral Agent shall, by 10:00 a.m. (St. Xxxx, Minnesota time) on each Remittance Date, direct the Lenders’ Bank to transfer collected funds held by the Lenders’ Bank in the Collection Account which were remitted to the Collection Account during the Collection Period with respect to such Remittance Date (“Available Funds”), in the following amounts and priority; provided, however, that if the Lenders’ Bank does not receive such instruction from (i) the Servicer (accompanied by the Collateral Agent’s written consent) or (ii) the Collateral Agent by 10:00 a.m. (St. Xxxx, Minnesota time) on such Remittance Date, subject to the provisions of the Discrepancy Procedure, the Lenders’ Bank shall apply such funds in accordance with the information calculated by the Servicer on the related Monthly Remittance Report:
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Remittance Date Transfers From Collection Account. The Servicer shall, and if the Servicer fails to do so the Collateral Agent shall, by 10:00 a.m. (St. Xxxx, Minnesota time) on each Remittance Date, direct the Lenders’ Bank to transfer collected funds held by the Lenders’ Bank in the Collection Account which were remitted to the Collection Account during the Collection Period with respect to such Remittance Date (“Available Funds”), in the following amounts and priority:
Sample 1See All (5)
Remittance Date Transfers From Collection Account. The Servicer shall and the Agent may, on each Remittance Date, direct the Agent's Bank to transfer collected funds held by the Agent's Bank in the Collection Account (in excess of the aggregate amounts (except amounts described in clauses (B) and (C) of sub-paragraph (ii) below) set aside and/or paid on such Remittance Date pursuant to Section 2.05(a)), in the following amounts and priority:
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Remittance Date Transfers From Collection Account. The Agent shall, on each Remittance Date, direct the Account Bank to transfer collected funds held by the Account Bank in the Collection Account in the following amounts and priority:
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Remittance Date Transfers From Collection Account. On each Remittance Date, the Servicer shall prepare and distribute to the Agent, the Backup Servicer and the Agent’s Bank a Monthly Remittance Report which includes distributions to be made from the Collection Account in accordance with this Section 2.05(c). The Agent’s Bank will distribute, after approval from the Agent (based on the Monthly Remittance Report or Agent’s written instructions, as applicable), collected funds held by the Agent’s Bank in the Collection Account in accordance with Section 2.06 (in excess of (i) the aggregate amounts maintained and/or paid on such Remittance Date pursuant to Section 2.05(a) and (ii) the amounts withdrawn by the Servicer, with respect to sales and use taxes and other similar taxes and insurance premium payments pursuant to Section 6.06). Without the prior written consent of the Lender, Collections on deposit in the Collection Account shall not be distributed by the Agent’s Bank other than in accordance with this Section 2.05(c). If the Agent’s Bank does not receive a Monthly Remittance Report from the Servicer on any Monthly Report Date, the Agent’s Bank will promptly notify the Agent of such fact and request alternative disbursement directions from the Agent.
Sample 1
Remittance Date Transfers From Collection Account. The Servicer shall, with the prior written consent of the Collateral Agent, and if the Servicer fails to do so the Collateral Agent shall, by 10:00 a.m. (St. Xxxx, Minnesota time) on each Remittance Date, direct the Lender’s Bank to transfer collected funds held by the Lender’s Bank in (x) the Collection Account which were remitted to the Collection Account during the Collection Period with respect to such Remittance Date (“Available Funds”) and (y) the Collection Sub-Account (if applicable), in the following amounts and priority; provided, however, that if the Lender’s Bank does not receive such instruction from (i) the Servicer (accompanied by the Collateral Agent’s written consent) or (ii) the Collateral Agent by 10:00 a.m. (St. Xxxx, Minnesota time) on such Remittance Date, subject to the provisions of the Discrepancy Procedure, the Lender’s Bank shall apply such funds in accordance with the information calculated by the Servicer on the related Monthly Remittance Report (and with respect to the amounts in the Collection Sub-Account, in accordance with Section 6.24):
Sample 1
Remittance Date Transfers From Collection Account. The Servicer shall, on each Remittance Date, direct the Account Bank in accordance with the Monthly Servicing Report to transfer amounts held by the Account Bank in the Collection Account as follows:
Sample 1
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Related to Remittance Date Transfers From Collection Account

  • Distributions from Collection Account Subject to Section 8.2(e), on each Payment Date the Indenture Trustee will (based on the information in the most recent Monthly Investor Report) withdraw from the Collection Account and make deposits and payments, to the extent of Available Funds in the Collection Account for that Payment Date, in the following order of priority (pro rata within each priority level based on the amounts due except as otherwise stated):

  • Permitted Withdrawals and Transfers from the Master Servicer Collection Account (a) The Master Servicer will, from time to time on demand of a Servicer or the Securities Administrator, make or cause to be made such withdrawals or transfers from the Master Servicer Collection Account as the Master Servicer has designated for such transfer or withdrawal pursuant to this Agreement and the related Servicing Agreement. The Master Servicer may clear and terminate the Master Servicer Collection Account pursuant to Section 10.01 and remove amounts from time to time deposited in error.

  • Withdrawals from the Collection Account and Distribution Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.03:

  • Collection of Mortgage Loan Payments; Collection Account; Distribution Account (a) The Master Servicer shall enforce the obligation of the Servicers to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with the applicable Servicing Agreement and the terms and provisions of any related Required Insurance Policy.

  • Withdrawals from the Collection Account (a) The Servicer shall, from time to time, make withdrawals from the Collection Account for any of the following purposes or as described in Section 4.01:

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

  • Collection of Mortgage Loan Payments; Certificate Account; Distribution Account (a) The Master Servicer shall make reasonable efforts in accordance with the customary and usual standards of practice of prudent mortgage servicers to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with this Agreement and the terms and provisions of any related Required Insurance Policy. Consistent with the foregoing, the Master Servicer may in its discretion (i) waive any late payment charge or any prepayment charge or penalty interest in connection with the prepayment of a Mortgage Loan and (ii) extend the due dates for payments due on a Mortgage Note for a period not greater than 180 days; provided, however, that the Master Servicer cannot extend the maturity of any such Mortgage Loan past the date on which the final payment is due on the latest maturing Mortgage Loan as of the Cut-off Date. In the event of any such arrangement, the Master Servicer shall make Advances on the related Mortgage Loan in accordance with the provisions of Section 4.1 during the scheduled period in accordance with the amortization schedule of such Mortgage Loan without modification thereof by reason of such arrangements. The Master Servicer shall not be required to institute or join in litigation with respect to collection of any payment (whether under a Mortgage, Mortgage Note or otherwise or against any public or governmental authority with respect to a taking or condemnation) if it reasonably believes that enforcing the provision of the Mortgage or other instrument pursuant to which such payment is required is prohibited by applicable law.

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

  • Permitted Withdrawals from the Collection Accounts and Certificate Account (a) Each Servicer may from time to time make withdrawals from the related Collection Account for the following purposes:

  • Permitted Withdrawals from the Certificate Account and Distribution Account (a) The Master Servicer may from time to time make withdrawals from the applicable subaccount of the Certificate Account for the following purposes:

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