Common use of Withdrawals from each Collection Account Clause in Contracts

Withdrawals from each Collection Account. The Trustee shall withdraw or cause to be withdrawn funds from the Collection Account for the following purposes with respect to the Mortgage Loans: (i) the deposits and distributions required by Section 4.4(d); (ii) to the extent not retained by the Master Servicer as provided in Section 3.2(c), to reimburse the Master Servicer for any accrued unpaid Servicing Fees and for unreimbursed Monthly Advances and Servicing Advances. The Master Servicer's right to reimbursement for unpaid Servicing Fees and unreimbursed Servicing Advances shall be limited to late collections on the related Mortgage Loan, including Liquidation Proceeds, Released Mortgaged Property Proceeds, Insurance Proceeds and such other amounts as may be collected by the Master Servicer from the related Mortgagor or otherwise relating to the Mortgage Loan in respect of which such reimbursed amounts are owed. If a Monthly Advance was made net of the Servicing Fee as permitted by Section 3.15 hereof, no additional Servicing Fee for the related Mortgage Loan and Due Period shall be payable. The Master Servicer's right to reimbursement from such Collection Account for unreimbursed Monthly Advances shall be limited to late collections of interest on any Mortgage Loan and to Liquidation Proceeds and Insurance Proceeds on related Mortgage Loans; (iii) to withdraw any amount received from a Mortgagor that is recoverable and sought to be recovered as a voidable preference by a trustee in bankruptcy pursuant to the United States Bankruptcy Code in accordance with a final, nonappealable order of a court having competent jurisdiction; (iv) (a) to make investments in Eligible Investments and (b) to pay to the Master Servicer interest earned in respect of Eligible Investments or on funds deposited in the Collection Account; (v) to withdraw any funds deposited in such Collection Account that were not required to be deposited therein (such as Servicing Compensation) or were deposited therein in error and to pay such funds to the appropriate Person; (vi) to pay the Master Servicer Servicing Compensation pursuant to Section 3.9 hereof to the extent not retained or paid pursuant to Section 3.2(c); (vii) to withdraw funds necessary for the conservation and disposition of REO Property pursuant to Section 3.7; and (viii) to clear and terminate such Collection Account upon the termination of this Agreement and to pay any amounts remaining therein in accordance with Section 8.1(b).

Withdrawals from each Collection Account. The Trustee shall withdraw or cause to be withdrawn funds from the Collection Account for the following purposes with respect to the Mortgage Loans: (i) the deposits and distributions required by Section 4.4(d4.5(d); (ii) to the extent not retained by the Master Servicer as provided in Section 3.2(c), to reimburse the Master Servicer for any accrued unpaid Servicing Fees and for unreimbursed Monthly Advances and Servicing Advances. The Master Servicer's right to reimbursement for unpaid Servicing Fees and unreimbursed Servicing Advances shall be limited to late collections on the related Mortgage Loan, including Liquidation Proceeds, Released Mortgaged Property Proceeds, Insurance Proceeds and such other amounts as may be collected by the Master Servicer from the related Mortgagor or otherwise relating to the Mortgage Loan in respect of which such reimbursed amounts are owed. If a Monthly Advance was made net of the Servicing Fee as permitted by Section 3.15 hereof, no additional Servicing Fee for the related Mortgage Loan loan and Due Period shall be payable. The Master Servicer's right to reimbursement from such Collection Account for unreimbursed Monthly Advances shall be limited to late collections of interest on any Mortgage Loan and to Liquidation Proceeds and Insurance Proceeds on related Mortgage Loans; (iii) to withdraw any amount received from a Mortgagor that is recoverable and sought to be recovered as a voidable preference by a trustee in bankruptcy pursuant to the United States Bankruptcy Code in accordance with a final, nonappealable order of a court having competent jurisdiction; (iv) (a) to make investments in Eligible Investments and (b) to pay to the Master Servicer interest earned in respect of Eligible Investments or on funds deposited in the Collection Account; (v) to withdraw any funds deposited in such Collection Account that were not required to be deposited therein (such as Servicing Compensation) or were deposited therein in error and to pay such funds to the appropriate Person; (vi) to pay the Master Servicer Servicing Compensation pursuant to Section 3.9 hereof to the extent not retained or paid pursuant to Section 3.2(c); (vii) to withdraw funds necessary for the conservation and disposition of REO Property pursuant to Section 3.7; and (viii) to clear and terminate such Collection Account upon the termination of this Agreement and to pay any amounts remaining therein in accordance with Section 8.1(b).

Withdrawals from each Collection Account. The Trustee shall withdraw or cause to be withdrawn funds from the Collection Account for the following purposes with respect to the Mortgage Home Equity Loans: (i) the deposits and distributions required by Section 4.4(d4.5(d); (ii) to the extent not retained by the Master Servicer as provided in Section 3.2(c), to reimburse the Master Servicer for any accrued unpaid Servicing Fees and for unreimbursed Monthly Advances and Servicing Advances. The Master Servicer's right to reimbursement for unpaid Servicing Fees and unreimbursed Servicing Advances shall be limited to late collections on the related Mortgage Home Equity Loan, including Liquidation Proceeds, Released Mortgaged Property Proceeds, Insurance Proceeds and such other amounts as may be collected by the Master Servicer from the related Mortgagor or otherwise relating to the Mortgage Home Equity Loan in respect of which such reimbursed amounts are owed. If a Monthly Advance was made net of the Servicing Fee as permitted by Section 3.15 hereof, no additional Servicing Fee for the related Mortgage Loan loan and Due Period shall be payable. The Master Servicer's right to reimbursement from such Collection Account for unreimbursed Monthly Advances shall be limited to late collections of interest on any Mortgage Home Equity Loan and to Liquidation Proceeds and Insurance Proceeds on related Mortgage Home Equity Loans; (iii) to withdraw any amount received from a Mortgagor that is recoverable and sought to be recovered as a voidable preference by a trustee in bankruptcy pursuant to the United States Bankruptcy Code in accordance with a final, nonappealable order of a court having competent jurisdiction; (iv) (a) to make investments in Eligible Investments and (b) to pay to the Master Servicer Servicer, interest earned in respect of Eligible Investments or on funds deposited in the Collection Account; (v) to withdraw any funds deposited in such Collection Account that were not required to be deposited therein (such as Servicing Compensation) or were deposited therein in error and to pay such funds to the appropriate Person; (vi) to pay the Master Servicer Servicing Compensation pursuant to Section 3.9 hereof to the extent not retained or paid pursuant to Section 3.2(c); (vii) to withdraw funds necessary for the conservation and disposition of REO Property pursuant to Section 3.7; and (viii) to clear and terminate such Collection Account upon the termination of this Agreement and to pay any amounts remaining therein in accordance with Section 8.1(b).

Withdrawals from each Collection Account. The Trustee shall withdraw or cause to be withdrawn funds from the Collection Account for the following purposes with respect to the Mortgage Loans: (i) the deposits and distributions required by Section 4.4(d); (ii) to the extent not retained by the Master Servicer as provided in Section 3.2(c), to reimburse the Master Servicer for any accrued unpaid Servicing Fees and for unreimbursed Monthly Advances and Servicing Advances. The Master Servicer's ’s right to reimbursement for unpaid Servicing Fees and unreimbursed Servicing Advances shall be limited to late collections on the related Mortgage Loan, including Liquidation Proceeds, Released Mortgaged Property Proceeds, Insurance Proceeds and such other amounts as may be collected by the Master Servicer from the related Mortgagor or otherwise relating to the Mortgage Loan in respect of which such reimbursed amounts are owed. If a Monthly Advance was made net of the Servicing Fee as permitted by Section 3.15 hereof, no additional Servicing Fee for the related Mortgage Loan and Due Period shall be payable. The Master Servicer's ’s right to reimbursement from such Collection Account for unreimbursed Monthly Advances shall be limited to late collections of interest on any Mortgage Loan and to Liquidation Proceeds and Insurance Proceeds on related Mortgage Loans; (iii) to withdraw any amount received from a Mortgagor that is recoverable and sought to be recovered as a voidable preference by a trustee in bankruptcy pursuant to the United States Bankruptcy Code in accordance with a final, nonappealable order of a court having competent jurisdiction; (iv) (a) to make investments in Eligible Investments and (b) to pay to the Master Servicer interest earned in respect of Eligible Investments or on funds deposited in the Collection Account; (v) to withdraw any funds deposited in such Collection Account that were not required to be deposited therein (such as Servicing Compensation) or were deposited therein in error and to pay such funds to the appropriate Person; (vi) to pay the Master Servicer Servicing Compensation pursuant to Section 3.9 hereof to the extent not retained or paid pursuant to Section 3.2(c); (vii) to withdraw funds necessary for the conservation and disposition of REO Property pursuant to Section 3.7; and (viii) to clear and terminate such Collection Account upon the termination of this Agreement and to pay any amounts remaining therein in accordance with Section 8.1(b).