Common use of Withdrawals From Custodial Accounts Clause in Contracts

Withdrawals From Custodial Accounts. The Seller may, from time to time, withdraw from the Custodial Account for the following purposes: (i) to make distributions to the Purchaser in the amounts and in the manner provided for in Section 11.15; (ii) to reimburse itself for Monthly Advances, the Seller's right to reimburse itself pursuant to this subclause (ii) being limited to amounts received on the related Mortgage Loan which represent late collections (net of the related Servicing Fees) respecting which any such advance was made it being understood that, in the case of such reimbursement, the Seller's right thereto shall be prior to the rights of Purchaser, except that, where the Seller is required to repurchase a Mortgage Loan, pursuant to Subsection 7.03, the Seller's right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to Subsection 7.03, and all other amounts required to be paid to the Purchaser with respect to such Mortgage Loans; (iii) to reimburse itself for unreimbursed Servicing Advances, the Seller's right to reimburse itself pursuant to this subclause (iii) with respect to any Mortgage Loan being limited to related Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds and such other amounts as may be collected by the Seller from the Mortgagor or otherwise relating to the Mortgage Loan, it being understood that, in the case of such reimbursement, the Seller's right thereto shall be prior to the rights of the Purchaser, except that, where the Seller is required to repurchase a Mortgage Loan, pursuant to Subsection 7.03, the Seller's right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to Subsection 7.03 and all other amounts required to be paid to the Purchaser with respect to such Mortgage Loans; (iv) to pay to itself pursuant to Section 11.23 as servicing compensation (a) any interest earned on funds in the Custodial Account (all such interest to be withdrawn monthly not later than each Remittance Date), and (b) the Servicing Fee from that portion of any payment or recovery attributable to interest on a particular Mortgage Loan; (v) to pay to itself with respect to each Mortgage Loan that has been repurchased pursuant to Subsection 7.03, all amounts received thereon and not distributed as of the date on which the related Repurchase Price is determined; (vi) to reimburse the Seller for any Monthly Advance previously made which the Seller has determined to be a Nonrecoverable Monthly Advance; (vii) to pay, or to reimburse itself for advances in respect of, expenses incurred in connection with any Mortgage Loan pursuant to Section 11.03(b), but only to the extent of amounts received in respect of the Mortgage Loans to which such expense is attributable; (viii) to clear and terminate the Custodial Account on the termination of this Agreement; and (ix) to reimburse itself for any amounts deposited in the Custodial Account in error. The Seller shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Custodial Account pursuant to such subclauses (ii) - (vii) above.

Withdrawals From Custodial Accounts. The Seller may, from time to time, withdraw from the Custodial Account for the following purposes: (i) to make distributions to the Purchaser in the amounts and in the manner provided for in Section 11.15; (ii) to reimburse itself for Monthly Advances, the Seller's right to reimburse itself pursuant to this subclause (ii) being limited to amounts received on the related Mortgage Loan which represent late collections (net of the related Servicing FeesFee and LPMI Fee, if applicable) respecting which any such advance was made it being understood that, in the case of such reimbursement, the Seller's right thereto shall be prior to the rights of Purchaser, except that, where the Seller is required to repurchase a Mortgage Loan, pursuant to Subsection 7.03, the Seller's right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to Subsection 7.03, and all other amounts required to be paid to the Purchaser with respect to such Mortgage Loans; (iii) to reimburse itself for unreimbursed Servicing Advances, the Seller's right to reimburse itself pursuant to this subclause (iii) with respect to any Mortgage Loan being limited to related Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds and such other amounts as may be collected by the Seller from the Mortgagor or otherwise relating to the Mortgage Loan, it being understood that, in the case of such reimbursement, the Seller's right thereto shall be prior to the rights of the Purchaser, except that, where the Seller is required to repurchase a Mortgage Loan, pursuant to Subsection 7.03, the Seller's right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to Subsection 7.03 and all other amounts required to be paid to the Purchaser with respect to such Mortgage Loans; (iv) to pay to itself pursuant to Section 11.23 as servicing compensation (a) any interest earned on funds in the Custodial Account (all such interest to be withdrawn monthly not later than each Remittance Date), and (b) the Servicing Fee and the LPMI Fee, if applicable, from that portion of any payment or recovery attributable to interest on a particular Mortgage Loan; (v) to pay to itself with respect to each Mortgage Loan that has been repurchased pursuant to Subsection 7.03, all amounts received thereon and not distributed as of the date on which the related Repurchase Price is determined; (vi) to reimburse the Seller for any Monthly Advance previously made which the Seller has determined to be a Nonrecoverable Monthly Advance; (vii) to pay, or to reimburse itself for advances in respect of, expenses incurred in connection with any Mortgage Loan pursuant to Section 11.03(b), but only to the extent of amounts received in respect of the Mortgage Loans to which such expense is attributable; (viii) to clear and terminate the Custodial Account on the termination of this Agreement; and (ix) to reimburse itself for any amounts deposited in the Custodial Account in error. The Seller shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Custodial Account pursuant to such subclauses (ii) - (vii) above.

Withdrawals From Custodial Accounts. The Seller may, from time to time, withdraw from the Custodial Account for the following purposes: (i1) to make distributions to the Purchaser in the amounts and in the manner provided for in Section 11.15; (ii) to reimburse itself for Monthly Advances, the Seller's right to reimburse itself pursuant to this subclause (ii) being limited to amounts received on the related Mortgage Loan which represent late collections (net of the related Servicing Fees) respecting which any such advance was made it being understood that, in the case of such reimbursement, the Seller's right thereto shall be prior to the rights of Purchaser, except that, where the Seller is required to repurchase a Mortgage Loan, pursuant to Subsection 7.03, the Seller's right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to Subsection 7.03, and all other amounts required to be paid to the Purchaser with respect to such Mortgage Loans; (iii2) to reimburse itself for unreimbursed Servicing Advances, the Seller's ’s right to reimburse itself pursuant to this subclause (iii3) with respect to any Mortgage Loan being limited to related Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds and such other amounts as may be collected by the Seller from the Mortgagor or otherwise relating to the Mortgage Loan, it being understood that, in the case of such reimbursement, the Seller's ’s right thereto shall be prior to the rights of the Purchaser, except that, where the Seller is required to repurchase a Mortgage Loan, pursuant to Subsection 7.03, the Seller's ’s right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to Subsection 7.03 and all other amounts required to be paid to the Purchaser with respect to such Mortgage Loans; (iv3) to pay to itself pursuant to Section 11.23 11.22 as servicing compensation (a) any interest earned on funds in the Custodial Account (all such interest to be withdrawn monthly not later than each Remittance Date), and (b) the Servicing Fee from that portion of any payment or recovery attributable to interest on a particular Mortgage Loan; (v4) to pay to itself with respect to each Mortgage Loan that has been repurchased pursuant to Subsection 7.03, all amounts received thereon and not distributed as of the date on which the related Repurchase Price is determined; (vi) to reimburse the Seller for any Monthly Advance previously made which the Seller has determined to be a Nonrecoverable Monthly Advance; (vii5) to pay, or to reimburse itself for advances in respect of, expenses incurred in connection with any Mortgage Loan pursuant to Section 11.03(b), but only to the extent of amounts received in respect of the Mortgage Loans to which such expense is attributable; (viii6) to reimburse itself for Nonrecoverable Servicing Advances; or (7) to clear and terminate the Custodial Account on the termination of this Agreement; and (ix) to reimburse itself for any amounts deposited in the Custodial Account in error. The Seller shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Custodial Account pursuant to such subclauses (ii2) - (vii7) above.

Withdrawals From Custodial Accounts. The Seller Option One may, from time to time, withdraw from the Custodial Account for the following purposes: (i) to make distributions to the Purchaser in the amounts and in the manner provided for in Section 11.15; (ii) following a Pass-Through Transfer, to reimburse itself for Monthly Advances, the SellerOption One's right to reimburse itself pursuant to this subclause (ii) being limited to amounts received on the related Mortgage Loan which represent late collections (net of the related Servicing Fees) respecting which any such advance was made it being understood that, in the case of such reimbursement, the SellerOption One's right thereto shall be prior to the rights of Purchaser, except that, where the Seller Option One is required to repurchase a Mortgage Loan, pursuant to Subsection 7.03, the SellerOption One's right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to Subsection 7.03, and all other amounts required to be paid to the Purchaser with respect to such Mortgage Loans; (iii) to reimburse itself for unreimbursed Servicing Advances, the SellerOption One's right to reimburse itself pursuant to this subclause (iii) with respect to any Mortgage Loan being limited to related Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds and such other amounts as may be collected by the Seller Option One from the Mortgagor or otherwise relating to the Mortgage Loan, it being understood that, in the case of such reimbursement, the SellerOption One's right thereto shall be prior to the rights of the Purchaser, except that, where the Seller Option One is required to repurchase a Mortgage Loan, pursuant to Subsection 7.03, the SellerOption One's right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to Subsection 7.03 and all other amounts required to be paid to the Purchaser with respect to such Mortgage Loans; (iv) to pay to itself pursuant to Section 11.23 as servicing compensation (a) any interest earned on funds in the Custodial Account (all such interest to be withdrawn monthly not later than each Remittance Date), and (b) the Servicing Fee from that portion of any payment or recovery attributable to interest on a particular Mortgage Loan; (v) to pay to itself with respect to each Mortgage Loan that has been repurchased pursuant to Subsection 7.03, all amounts received thereon and not distributed as of the date on which the related Repurchase Price is determined; (vi) following a Pass-Through Transfer, to reimburse the Seller Option One for any Monthly Advance previously made which the Seller Option One has determined to be a Nonrecoverable Monthly Advance; (vii) to pay, or to reimburse itself for advances in respect of, expenses incurred in connection with any Mortgage Loan pursuant to Section 11.03(b)) or 11.14, but only to the extent of amounts received in respect of the Mortgage Loans to which such expense is attributable; (viii) to clear and terminate the Custodial Account on the termination of this Agreement; and; (ix) to reimburse itself for any amounts withdraw funds deposited in the Custodial error; or (x) to transfer funds to another Eligible Account or Eligible Investment in erroraccordance with Section 11.10. The Seller Option One shall keep and maintain separate accounting, on a Mortgage Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from the Custodial Account pursuant to such subclauses (ii) - (vii) above.

Withdrawals From Custodial Accounts. The Seller (a) With respect to the Xxxxxx Xxx Mortgage Loans, the Subservicer shall not withdraw funds from the Central P&I Custodial Account. Where the Xxxxxx Mae Guide prevents the Subservicer from withdrawing funds from a Custodial Account, the Owner/Servicer may, from time to time, and as permitted by the Agency Guides, withdraw funds from the Central P&I Custodial Account as may be necessary to make such payments required under the Xxxxxx Xxx Guide, including, but not limited to, make payments to security holders and any shortfall payments. (b) Except as provided in Section 5.06(a), the Subservicer shall, from time to time, withdraw from the applicable Custodial Account for the following purposes, subject to Accepted Servicing Practices and, if applicable, Agency Requirements: (i) to make distributions remit payments to the Purchaser account or accounts designated by the Investor, and with respect to the Agency Loans, designated by the Owner/Servicer with respect to the related Servicing Rights, in the amounts and in the manner provided for in Section 11.155.15; (ii) to reimburse itself for Monthly Advancesany unreimbursed Pass-Through Expenses and to pay itself any unpaid Subservicing Fees, the Seller's right to reimburse itself pursuant to this subclause (ii) being limited to amounts received on the related Mortgage Loan which represent late collections (net of the related Servicing and Subservicer Retained Ancillary Fees) respecting which any such advance was made it being understood that, in the case of such reimbursement, the Seller's right thereto shall be prior to the rights of Purchaser, except that, where extent not previously retained by the Seller is required to repurchase a Mortgage Loan, pursuant to Subsection 7.03, the Seller's right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to Subsection 7.03, and all other amounts required to be paid to the Purchaser with respect to such Mortgage LoansSubservicer; (iii) to reimburse itself for unreimbursed fund any Servicing Advances, the Seller's right to reimburse itself pursuant to this subclause (iii) with respect to any Monthly Advances or Compensating Interest payments or Mortgage Loan being limited to related Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds and such other amounts as may be collected by the Seller from the Mortgagor or otherwise relating to the Mortgage Loan, it being understood that, in the case of such reimbursement, the Seller's right thereto shall be prior to the rights of the Purchaser, except that, where the Seller is repurchases required to repurchase a Mortgage Loan, pursuant to Subsection 7.03, the Seller's right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to Subsection 7.03 and all other amounts required to be paid to the Purchaser with respect to such Mortgage Loansmade under this Agreement; (iv) to pay reimburse itself for any unreimbursed Servicing Advance, Monthly Advances or Compensating Interest payments or Mortgage Loan repurchases made by it, including any Nonrecoverable Advances previously made, to itself pursuant to Section 11.23 as servicing compensation (a) any interest earned on funds in the Custodial Account (all such interest to be withdrawn monthly extent not later than each Remittance Date), and (b) previously retained by the Servicing Fee from that portion of any payment or recovery attributable to interest on a particular Mortgage LoanSubservicer; (v) to pay transfer funds to itself with respect to each Mortgage Loan that has been repurchased another Custodial Account pursuant to Subsection 7.03, all amounts received thereon and not distributed as of the date on which the related Repurchase Price is determinedSection 5.10; (vi) to reimburse withdraw any amounts inadvertently deposited in such Custodial Account and any interest or benefit earned on funds deposited in such Custodial Account to the Seller for any Monthly Advance previously made which extent the Seller has determined Subservicer is entitled to be a Nonrecoverable Monthly Advance;such interest or benefit pursuant to the Pricing Schedule; and (vii) to pay, or to reimburse itself for advances in respect of, expenses incurred in connection with any Mortgage Loan pursuant to Section 11.03(b), but only to the extent of amounts received in respect of the Mortgage Loans to which such expense is attributable; (viii) to clear and terminate the Custodial Account on upon the termination of this Agreement; and (ix) provided, if such amounts in any month are insufficient to reimburse itself for any amounts deposited and pay the Subservicer as set forth above, in full, the Owner/Servicer shall wire immediately available funds in the Custodial Account in error. The Seller shall keep and maintain separate accounting, amount indicated on a Mortgage Loan reconciliation of unpaid or unreimbursed amounts into the account designated by Mortgage Loan basisthe Subservicer, for the purpose within five (5) Business Days of justifying any withdrawal from the Custodial Account pursuant to such subclauses (ii) - (vii) abovenotice thereof.