Common use of Transfer to Paying Agent Clause in Contracts

Transfer to Paying Agent. No later than each Distribution Date, the Trustee will withdraw and deliver to the Paying Agent from funds on deposit in one or more Certificate Accounts an amount equal to the Distribution Amount for a Trust pursuant to Section 4.01 (or if sufficient funds for a Trust are not then available in any Certificate Account, as much as is available) for application towards the distributions required by the Trust Documents. The Trustee may consolidate funds in one or more Certificate Accounts (or through a clearing account at an Eligible Depository) prior to transfer to the Paying Agent.

Transfer to Paying Agent. No later than each Distribution Date, the Trustee will withdraw and deliver to the Paying Agent from funds on deposit in one or more Certificate Accounts an amount equal to the each Class Distribution Amount for a Trust pursuant to Section 4.01 and 4.02 (or if sufficient funds for a Trust are not then available in any Certificate Account, as much as is available) for application towards the distributions required by the Trust Documents. The Trustee may consolidate funds in one or more Certificate Accounts (or through a clearing account at an Eligible Depository) prior to transfer to the Paying Agent.