Common use of Transfers of Funds Clause in Contracts

Transfers of Funds. On the Latest Servicer Remittance Date preceding each Distribution Date, the Master Servicer will confirm that, pursuant to Section 6.3, funds have been transferred from any Custodial Account for any Direct Servicer required to remit on or before that date to one or more Certificate Accounts or to a clearing account at an Eligible Depository, such clearing account to exist for the purpose of receiving funds held in trust. If and to the extent funds have been transferred to such a clearing account, the Master Servicer or the Trustee will promptly cause such funds to be transferred from the clearing account to a Certificate Account. Any Delinquency Advances, Estimated Funding, Guaranty payments and payment of the purchase price for any Mortgage Loans purchased from a Trust pursuant to Section 2.5 also may be deposited to a Certificate Account. All amounts deposited to a Certificate Account, and all investments made with such funds, excluding all interest earnings and other investment earnings, will be held in trust in a Certificate Account, subject to withdrawal by the Trustee for the purposes set forth in Section 7.4.

Transfers of Funds. On the Latest Servicer Remittance Date preceding each Distribution Date, the Master Servicer will confirm that, pursuant to Section 6.3, funds have been transferred from any Custodial Account for any Direct Primary Servicer required to remit on or before that date to one or more Certificate Accounts or to a clearing account at an Eligible Depository, such clearing account to exist for the purpose of receiving funds held in trust. If and to the extent funds have been transferred to such a clearing account, the Master Servicer or the Trustee will promptly cause such funds to be transferred from the clearing account to a Certificate Account. Any Delinquency Advances, Estimated Funding, income from and proceeds of liquidation of Defeasance Securities, and Guaranty payments and payment of the purchase price for any Mortgage Loans purchased from a Trust pursuant to Section 2.5 also may be deposited to a Certificate Account. All amounts deposited to a Certificate Account, and all investments made with such funds, excluding all interest earnings and other investment earnings, will be held in trust in a Certificate Account, subject to withdrawal by the Trustee for the purposes set forth in Section 7.4.7.4.‌

Transfers of Funds. On the Latest Servicer Remittance Date preceding each Distribution Date, the Master Servicer will confirm that, pursuant to Section 6.3, funds have been transferred from any Custodial Account for any Direct Primary Servicer required to remit on or before that date to one or more Certificate Accounts or to a clearing account at an Eligible Depository, such clearing account to exist for the purpose of receiving funds held in trust. If and to the extent funds have been transferred to such a clearing account, the Master Servicer or the Trustee will promptly cause such funds to be transferred from the clearing account to a Certificate Account. Any Delinquency Advances, Estimated Funding, income from and proceeds of liquidation of Defeasance Securities, and Guaranty payments and payment of the purchase price for any Mortgage Loans purchased from a Trust pursuant to Section 2.5 also may be deposited to a Certificate Account. All amounts deposited to a Certificate Account, and all investments made with such funds, excluding all interest earnings and other investment earnings, will be held in trust in a Certificate Account, subject to withdrawal by the Trustee for the purposes set forth in Section 7.4.

Transfers of Funds. On the Latest Servicer Remittance Date preceding each Distribution Date, the Master Servicer will confirm that, pursuant to Section 6.3, funds have been transferred from any Custodial Account for any Direct Primary Servicer required to remit on or before that date to one or more Certificate Accounts or to a clearing account at an Eligible Depository, such clearing account to exist for the purpose of receiving funds held in trust. If and to the extent funds have been transferred to such a clearing account, the Master Servicer or the Trustee will promptly cause such funds to be transferred from the clearing account to a Certificate Account. Any Delinquency Advances, Estimated Funding, income from and‌ proceeds of liquidation of Defeasance Securities, and Guaranty payments and payment of the purchase price for any Mortgage Loans purchased from a Trust pursuant to Section 2.5 also may be deposited to a Certificate Account. All amounts deposited to a Certificate Account, and all investments made with such funds, excluding all interest earnings and other investment earnings, will be held in trust in a Certificate Account, subject to withdrawal by the Trustee for the purposes set forth in Section 7.4.

Transfers of Funds. On the Latest Servicer Remittance Date preceding each Distribution Date, the Master Servicer will confirm that, pursuant to Section 6.3, funds have been transferred from any Custodial Account for any Direct Primary Servicer required to remit on or before that date to one or more Certificate Accounts or to a clearing account at an Eligible Depository, Depository,‌ such clearing account to exist for the purpose of receiving funds held in trust. If and to the extent funds have been transferred to such a clearing account, the Master Servicer or the Trustee will promptly cause such funds to be transferred from the clearing account to a Certificate Account. Any Delinquency Advances, Estimated Funding, income from and proceeds of liquidation of Defeasance Securities, and Guaranty payments and payment of the purchase price for any Mortgage Loans purchased from a Trust pursuant to Section 2.5 also may be deposited to a Certificate Account. All amounts deposited to a Certificate Account, and all investments made with such funds, excluding all interest earnings and other investment earnings, will be held in trust in a Certificate Account, subject to withdrawal by the Trustee for the purposes set forth in Section 7.4.