Common use of [The Pre-Funding Account] [The Revolving Account] Clause in Contracts

[The Pre-Funding Account] [The Revolving Account]. (a) The Administrator shall establish and maintain in its name, as Administrator, a trust account entitled “[Pre-Funding Account] [Revolving Account], in trust for the benefit of the Holders of “Aegis Asset Backed Securities Trust [ ] Mortgage Backed Notes” and the funds therein shall be used solely for the purchase of [Subsequent Mortgage Loans] [Additional Mortgage Loans]. The [Pre-Funding Account] [Revolving Account] shall be an Eligible Account and if the account ceases to be an Eligible Account, the Administrator shall establish a new [Pre-Funding Account] [Revolving Account] that is also an Eligible Account within five Business Days and transfer all funds and investment property on deposit in the [Pre-Funding Account] [Revolving Account] into such new [Pre-Funding Account] [Revolving Account]. On the Closing Date, the Depositor shall cause to be deposited the [Pre-Funding Amount] [Revolving Amount], into the [Pre-Funding Account] [Revolving Account]. On any subsequent Transfer Date, provided the conditions set forth in Section 2.1(a) have been fully satisfied, the Administrator shall cause to be withdrawn from the [Pre-Funding Account ] [Revolving Account] an amount equal to the Transfer Price of any [Subsequent Mortgage Loans] [Additional Mortgage Loans] as of any applicable Transfer Date sold to the Issuer and to pay such Transfer Price to the Depositor. In no event shall the Administrator withdraw from the [Pre-Funding Account] [Revolving Account] an amount in excess of the [Pre-Funding Amount] [Revolving Amount] or withdraw funds from the [Pre-Funding Account] [Revolving Account] during the [Pre-Funding Period] [Revolving Period] for any other purpose. (b) Funds in the [Pre-Funding Account] [Revolving Account] may be invested by the Administrator in Eligible Investments at the written direction of the Depositor. All income and gain on such investments shall be for the benefit of the Depositor and shall be subject to withdrawal on order by the Depositor from time to time. The amount of any losses incurred in respect of any such investments shall be paid by the Depositor by a deposit in the [Pre-Funding Account] [Revolving Account] out of its own funds, without any right of reimbursement therefor, immediately as realized. On the Business Day immediately following the end of the [Pre-Funding Period] [Revolving Period], the Administrator shall transfer any amounts on deposit in the [Pre-Funding Account] [Revolving Account] to the Note Payment Account for distribution on the Payment Date occurring in [ ] as principal to the Holders of the Notes in accordance with Article IV.]

Appears in 1 contract

Samples: Transfer and Servicing Agreement (Aegis Asset Backed Securities Corp)

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[The Pre-Funding Account] [The Revolving Account]. (a) The Securities Administrator shall establish and maintain in its name, as Securities Administrator, a trust account entitled “[Pre-Funding Account] [Revolving Account], in trust for the benefit of the Holders of “Aegis Asset Backed Securities Trust [ ] Mortgage Backed Notes” and the funds therein shall be used solely for the purchase of [Subsequent Mortgage Loans] [Additional Mortgage Loans]. The [Pre-Funding Account] [Revolving Account] shall be an Eligible Account and if the account ceases to be an Eligible Account, the Securities Administrator shall establish a new [Pre-Funding Account] [Revolving Account] that is also an Eligible Account within five Business Days and transfer all funds and investment property on deposit in the [Pre-Funding Account] [Revolving Account] into such new [Pre-Funding Account] [Revolving Account]. On the Closing Date, the Depositor shall cause to be deposited the [Pre-Funding Amount] [Revolving Amount], into the [Pre-Funding Account] [Revolving Account]. On any subsequent Transfer Date, provided the conditions set forth in Section 2.1(a) have been fully satisfied, the Securities Administrator shall cause to be withdrawn from the [Pre-Funding Account ] [Revolving Account] an amount equal to the Transfer Price of any [Subsequent Mortgage Loans] [Additional Mortgage Loans] as of any applicable Transfer Date sold to the Issuer Trustee and to pay such Transfer Price to the Depositor. In no event shall the Securities Administrator withdraw from the [Pre-Funding Account] [Revolving Account] an amount in excess of the [Pre-Funding Amount] [Revolving Amount] or withdraw funds from the [Pre-Funding Account] [Revolving Account] during the [Pre-Funding Period] [Revolving Period] for any other purpose. (b) Funds in the [Pre-Funding Account] [Revolving Account] may be invested by the Securities Administrator in Eligible Investments at the written direction of the Depositor. All income and gain on such investments shall be for the benefit of the Depositor and shall be subject to withdrawal on order by the Depositor from time to time. The amount of any losses incurred in respect of any such investments shall be paid by the Depositor by a deposit in the [Pre-Funding Account] [Revolving Account] out of its own funds, without any right of reimbursement therefor, immediately as realized. On the Business Day immediately following the end of the [Pre-Funding Period] [Revolving Period], the Securities Administrator shall transfer any amounts on deposit in the [Pre-Funding Account] [Revolving Account] to the Note Payment Account for distribution on the Payment Date occurring in [ ] as principal to the Holders of the Notes in accordance with Article IV.]

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Aegis Asset Backed Securities Corp)

[The Pre-Funding Account] [The Revolving Account]. (a) The Securities Administrator shall establish and maintain in its name, as Securities Administrator, a trust account entitled “[Pre-Funding Account] [Revolving Account], [ ], as Securities Administrator, in trust for the benefit of the Holders of “Aegis Asset Backed Securities HomeBanc Mortgage Trust [ ] Mortgage Backed Notes” and the funds therein shall be used solely for the purchase of [Subsequent Mortgage Loans] [Additional Mortgage Loans]. The [Pre-Funding Account] [Revolving Account] shall be an Eligible Account and if the account ceases to be an Eligible Account, the Securities Administrator shall establish a new [Pre-Funding Account] [Revolving Account] that is also an Eligible Account within five Business Days and transfer all funds and investment property on deposit in the [Pre-Funding Account] [Revolving Account] into such new [Pre-Funding Account] [Revolving Account]. On the Closing Date, the Depositor shall cause to be deposited the [Pre-Funding Amount] [Revolving Amount], into the [Pre-Funding Account] [Revolving Account]. On any subsequent Transfer Date, provided the conditions set forth in Section 2.1(a2.01(b) have been fully satisfied, the Securities Administrator shall cause to be withdrawn from the [Pre-Funding Account ] [Revolving Account] an amount equal to the Transfer Price of any [Subsequent Mortgage Loans] [Additional Mortgage Loans] as of any applicable Transfer Date sold to the Issuer and to pay such Transfer Price to the Depositor. In no event shall the Securities Administrator withdraw from the [Pre-Funding Account] [Revolving Account] an amount in excess of the [Pre-Funding Amount] [Revolving Amount] or withdraw funds from the [Pre-Funding Account] [Revolving Account] during the [Pre-Funding Period] [Revolving Period] for any other purpose. (b) Funds in the [Pre-Funding Account] [Revolving Account] may be invested by the Securities Administrator in Eligible Investments at the written direction of the Depositor. All income and gain on such investments shall be for the benefit of the Depositor and shall be subject to withdrawal on order by the Depositor from time to time. The amount of any losses incurred in respect of any such investments shall be paid by the Depositor by a deposit in the [Pre-Funding Account] [Revolving Account] out of its own funds, without any right of reimbursement therefor, immediately as realized. On the Business Day immediately following the end of the [Pre-Funding Period] [Revolving Period], the Securities Administrator shall transfer any amounts on deposit in the [Pre-Funding Account] [Revolving Account] to the Note Payment Account for distribution on the Payment Date occurring in [ ] as principal to the Holders of the Notes in accordance with this Article IVVI.]

Appears in 1 contract

Samples: Transfer and Servicing Agreement (HMB Acceptance Corp.)

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[The Pre-Funding Account] [The Revolving Account]. (a) The Securities Administrator shall establish and maintain in its name, as Securities Administrator, a trust account entitled “[Pre-Funding Account] [Revolving Account], [ ], as Securities Administrator, in trust for the benefit of the Holders of “Aegis Asset Backed Securities TBW Mortgage Trust [ ] Mortgage Backed Notes” and the funds therein shall be used solely for the purchase of [Subsequent Mortgage Loans] [Additional Mortgage Loans]. The [Pre-Funding Account] [Revolving Account] shall be an Eligible Account and if the account ceases to be an Eligible Account, the Securities Administrator shall establish a new [Pre-Funding Account] [Revolving Account] that is also an Eligible Account within five Business Days and transfer all funds and investment property on deposit in the [Pre-Funding Account] [Revolving Account] into such new [Pre-Funding Account] [Revolving Account]. On the Closing Date, the Depositor shall cause to be deposited the [Pre-Funding Amount] [Revolving Amount], into the [Pre-Funding Account] [Revolving Account]. On any subsequent Transfer Date, provided the conditions set forth in Section 2.1(a2.01(b) have been fully satisfied, the Securities Administrator shall cause to be withdrawn from the [Pre-Funding Account ] [Revolving Account] an amount equal to the Transfer Price of any [Subsequent Mortgage Loans] [Additional Mortgage Loans] as of any applicable Transfer Date sold to the Issuer and to pay such Transfer Price to the Depositor. In no event shall the Securities Administrator withdraw from the [Pre-Funding Account] [Revolving Account] an amount in excess of the [Pre-Funding Amount] [Revolving Amount] or withdraw funds from the [Pre-Funding Account] [Revolving Account] during the [Pre-Funding Period] [Revolving Period] for any other purpose. (b) Funds in the [Pre-Funding Account] [Revolving Account] may be invested by the Securities Administrator in Eligible Investments at the written direction of the Depositor. All income and gain on such investments shall be for the benefit of the Depositor and shall be subject to withdrawal on order by the Depositor from time to time. The amount of any losses incurred in respect of any such investments shall be paid by the Depositor by a deposit in the [Pre-Funding Account] [Revolving Account] out of its own funds, without any right of reimbursement therefor, immediately as realized. On the Business Day immediately following the end of the [Pre-Funding Period] [Revolving Period], the Securities Administrator shall transfer any amounts on deposit in the [Pre-Funding Account] [Revolving Account] to the Note Payment Account for distribution on the Payment Date occurring in [ ] as principal to the Holders of the Notes in accordance with this Article IVVI.]

Appears in 1 contract

Samples: Transfer and Servicing Agreement (TBALT Corp.)

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