Common use of Withdrawals From the Custodial Account Clause in Contracts

Withdrawals From the Custodial Account. The Company shall, from time to time, withdraw funds from the Custodial Account for the following purposes: (i) to make payments to the Owner in the amounts and in the manner provided for in Section 5.01; (ii) to reimburse itself for Monthly Advances, the Company’s right to reimburse itself pursuant to this subclause (ii) being limited as provided in Section 5.03; (iii) to reimburse itself for unreimbursed Servicing Advances, and for any unpaid Servicing Fees, the Company’s right to reimburse itself pursuant to this subclause (iii) with respect to any Mortgage Loan being limited as provided in Section 5.03; (iv) reserved; (v) to pay itself investment earnings on funds deposited in the Custodial Account; (vi) to withdraw Amounts Held For Future Distribution to the extent permitted under Section 5.03; (vii) to withdraw funds deposited in error in the Custodial Account; and (viii) to clear and terminate the Custodial Account upon the termination of this Agreement. On each Remittance Date, the Company shall withdraw all funds from the Custodial Account except for those amounts which, pursuant to Section 5.01(a)(iv) and (v), the Company is not obligated to remit on such Remittance Date. The Company may use such withdrawn funds only for the purposes described in this Section 4.05.