SERVICER’S COVENANTS; DISTRIBUTIONS; RESERVE ACCOUNT Sample Clauses

SERVICER’S COVENANTS; DISTRIBUTIONS; RESERVE ACCOUNT. STATEMENTS TO NOTEHOLDERS AND CERTIFICATEHOLDERS 9
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SERVICER’S COVENANTS; DISTRIBUTIONS; RESERVE ACCOUNT. STATEMENTS TO NOTEHOLDERS AND CERTIFICATEHOLDERS 10 SECTION 4.01 Annual Statement as to Compliance; Notice of Servicer Default 10 SECTION 4.02 Annual Report of Assessment of Compliance with Servicing Criteria 10 SECTION 4.03 Access to Certain Documentation and Information Regarding the Receivables 11 SECTION 4.04 Amendments to Schedule of Receivables 11 SECTION 4.05 Assignment of Administrative Receivables and Warranty Receivables 11 TABLE OF CONTENTS (continued) Page SECTION 4.06 Distributions 12 SECTION 4.07 Reserve Account 18 SECTION 4.08 Net Deposits 19 SECTION 4.09 Statements to Securityholders 20 SECTION 4.10 [Compliance with the FDIC Rule 22 ARTICLE V. CERTIFICATEHOLDER AND NOTEHOLDER STATEMENTS AND ACCOUNTS; COLLECTIONS, DEPOSITS AND INVESTMENTS 23 SECTION 5.01 Establishment of Accounts 23 SECTION 5.02 Collections 27 SECTION 5.03 Investment Earnings and Supplemental Servicing Fees 27 SECTION 5.04 Additional Deposits 27 SECTION 5.05 [Depositor Repurchase Option 27
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Related to SERVICER’S COVENANTS; DISTRIBUTIONS; RESERVE ACCOUNT

  • 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.

  • Custodial Accounts; Distribution Account (a) On or prior to the Closing Date, the Master Servicer shall have caused each Servicer to establish and maintain one or more Custodial Accounts, as provided in the related Purchase and Servicing Agreement, into which all Scheduled Payments and unscheduled payments with respect to the related Mortgage Loans, net of any deductions or reimbursements permitted under the related Purchase and Servicing Agreement, shall be deposited. On each Distribution Account Deposit Date, the Servicers shall remit to the Securities Administrator for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the related Purchase and Servicing Agreements.

  • 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.

  • Payments from Owner Trust Estate All payments to be made by the Owner Trustee under this Agreement or any of the Basic Documents to which the Trust or the Owner Trustee is a party shall be made only from the income and proceeds of the Owner Trust Estate and only to the extent that the Owner Trustee shall have received income or proceeds from the Owner Trust Estate to make such payments in accordance with the terms hereof. Wilmington Trust Company or any successor thereto, in its individual capacity, shall not be liable for any amounts payable under this Agreement or any of the Basic Documents to which the Trust or the Owner Trustee is a party.

  • Master Servicer Collection Account (a) The Master Servicer shall establish and maintain in the name of the Trustee, for the benefit of the Certificateholders, the Master Servicer Collection Account as a segregated trust account or accounts. The Master Servicer Collection Account shall be an Eligible Account. The Master Servicer will deposit in the Master Servicer Collection Account as identified by the Master Servicer and as received by the Master Servicer, the following amounts:

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

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