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

[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the conditions set forth in Section 2.1(a) have been fully satisfied, the Securities Administrator shall cause to be withdrawn from the [Pre-Funding Account ] [Revolving Account] an amount equal to the Transfer Price of any [Subsequent Mortgage Loans] [Additional Mortgage Loans] as of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 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.

Appears in 1 contract

Samples: Pooling 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], [ ], 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 Trustee 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.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (TBALT 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], 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 Trustee 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.

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], [ ], 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 Trustee 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.

Appears in 1 contract

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

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