Common use of Withdrawals from Certificate Account Clause in Contracts

Withdrawals from Certificate Account. The Servicer may withdraw funds on deposit in the Certificate Account for the following purposes: (1) to reimburse itself for any Advances previously made by the Servicer, which Advances remain unreimbursed to the Servicer, out of Related Proceeds or, if such Advances have been determined by the Servicer to have become Non-Recoverable Advances, out of any funds on deposit in the Certificate Account; (2) to pay any Servicing Fees and other servicing compensation provided for herein due to the Servicer; PROVIDED, HOWEVER, that if OAC is the Servicer, it shall only be entitled to withdraw its Servicing Fee in respect of any Distribution Date from the Certificate Account in accordance with this clause to the extent the amounts on deposit in the Certificate Account and attributable to the Available Distribution Amount for such Distribution Date exceed the sum of all amounts to be distributed on the Certificates of the related Series on such Distribution Date prior to the distribution to OAC of its Servicing Fees as described in the related Pooling and Servicing Agreement in the Section thereof entitled "Distributions"; and (3) to enable the Servicer to remit the Remittance Amount to the Trustee on each Remittance Date, as described in Section 3.07(b) below.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc), Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc), Pooling and Servicing Agreement (Deutsche Financial Capital Securitization LLC)

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Withdrawals from Certificate Account. The Servicer may withdraw funds on deposit in the Certificate Account for the following purposes: (1) to reimburse itself for any Advances previously made by the Servicer, which Advances remain unreimbursed to the Servicer, out of Related Proceeds or, if such Advances have been determined by the Servicer to have become Non-Recoverable Advances, out of any funds on deposit in the Certificate Account; (2) to pay any Servicing Fees and other servicing compensation provided for herein due to the Servicer; PROVIDED, HOWEVER, that if OAC is the Servicer, it shall only be entitled to withdraw its Servicing Fee in respect of any Distribution Date from the Certificate Account in accordance with this clause to the extent the amounts on deposit in the Certificate Account and attributable to the Available Distribution Amount for such Distribution Date exceed the sum of all amounts to be distributed on the Certificates of the related Series on such Distribution Date prior to the distribution to OAC of its Servicing Fees as described in the related Pooling and Servicing Agreement in the Section thereof entitled "Distributions"; and (3) to enable the Servicer to remit the Remittance Amount to the Trustee on each Remittance Date, as described in Section 3.07(b) below.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Deutsche Financial Capital Securitization LLC)

Withdrawals from Certificate Account. The Servicer may withdraw funds ------------------------------------ on deposit in the Certificate Account for the following purposes: (1) to reimburse itself for any Advances previously made by the Servicer, which Advances remain unreimbursed to the Servicer, out pursuant to the provisions of Related Proceeds orSection 3.04(c) (including, without limitation, if such Advances have been determined by the Servicer to have become Non-Recoverable Advances, out of any funds on deposit in the Certificate Account); (2) to pay any Servicing Fees and other servicing compensation provided for herein due to the Servicer; PROVIDEDprovided, HOWEVERhowever, that if OAC is the Servicer, it shall only be entitled to withdraw its Servicing Fee in respect of any Distribution Date from the Certificate Account in accordance with this clause to the extent the amounts on deposit in the Certificate Account and attributable to the Available Distribution Amount for such Distribution Date exceed the sum of all amounts to be distributed on the Certificates of the related Series on such Distribution Date prior to the distribution to OAC of its Servicing Fees as described in the related Pooling and Servicing Agreement in the Section thereof entitled "Distributions"; and (3) to enable the Servicer to remit the Remittance Amount to the Trustee on each Remittance Date, as described in Section 3.07(b) below.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc)

Withdrawals from Certificate Account. The Servicer may withdraw funds on deposit in the Certificate Account for the following purposes: (1) to reimburse itself for any Advances previously made by the Servicer, which Advances remain unreimbursed to the Servicer, out of Related Proceeds or, if such Advances have been determined by the Servicer to have become Non-Recoverable Advances, out of any funds on deposit in the Certificate Account; (2) to pay any Servicing Fees and other servicing compensation provided for herein due to the Servicer; PROVIDEDprovided, HOWEVERhowever, that if OAC is the Servicer, it shall only be entitled to withdraw its Servicing Fee in respect of any Distribution Date from the Certificate Account in accordance with this clause to the extent the amounts on deposit in the Certificate Account and attributable to the Available Distribution Amount for such Distribution Date exceed the sum of all amounts to be distributed on the Certificates of the related Series on such Distribution Date prior to the distribution to OAC of its Servicing Fees as described in the related Pooling and Servicing Agreement in the Section thereof entitled "Distributions"; and (3) to enable the Servicer to remit the Remittance Amount to the Trustee on each Remittance Date, as described in Section 3.07(b) below.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc)

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Withdrawals from Certificate Account. The Servicer may withdraw funds on deposit in the Certificate Account for the following purposes: (1) to reimburse itself for any Advances previously made by the Servicer, which Advances remain unreimbursed to the Servicer, out of Related Proceeds or, if such Advances have been determined by the Servicer to have become Non-Recoverable Advances, out of any funds on deposit in the Certificate Account; (2) to pay any Servicing Fees and other servicing compensation provided for herein due to the Servicer; PROVIDEDprovided, HOWEVERhowever, that if OAC BCI is the Servicer, it shall only be entitled to withdraw its Servicing Fee in respect of any Distribution Date from the Certificate Account in accordance with this clause to the extent the amounts on deposit in the Certificate Account and attributable to the Available Distribution Amount for such Distribution Date exceed the sum of all amounts to be distributed on the Certificates of the related Series on such Distribution Date prior to the distribution to OAC BCI of its Servicing Fees as described in the related Pooling and Servicing Agreement in the Section thereof entitled "Distributions"; and (3) to enable the Servicer to remit the Remittance Amount to the Trustee on each Remittance Date, as described in Section 3.07(b) below.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bombardier Capital Mortgage Securitization Corp)

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