Common use of Withdrawals from the Distribution Account Clause in Contracts

Withdrawals from the Distribution Account. From time to time, withdrawals may be made from the Distribution Account by the Indenture Trustee for the following purposes: (i) If not received by the Servicer pursuant to Section 3.02(c), to the Servicer as payment for its Servicing Fee pursuant to Section 3.08; (ii) To withdraw and retain any earnings on or investment income with respect to funds in or credited to the Distribution Account; (iii) To make or to permit the Indenture Trustee to make distributions and payments pursuant to Section 8.7 of the Indenture; (iv) To pay to the Servicer any Liquidation Expenses not reimbursed prior to the deposit of Net Liquidation Proceeds to the Distribution Account; (v) Prior to the last day of the Collection Period preceding the month in which the commencement of the Rapid Amortization Period occurs, to pay to the Sponsor the amount of any Additional Balances related to HELOC Mortgage Loans included in the Pool as and when created during the related Collection Period; provided, that the aggregate amount so paid to the Sponsor in respect of Additional Balances with respect to the HELOC Mortgage Loans at any time during any Collection Period shall not exceed the amount of Principal Collections theretofore received for such Collection Period; (vi) Upon termination of the Trust, to make any payments required by Section 7.01; and (vii) To pay the Credit Risk Manager the Credit Risk Manager Fee. Funds in the Distribution Account will remain uninvested. If the Servicer deposits in the Distribution Account any amount not required to be deposited therein or any amount in respect of payments by Mortgagors made by checks subsequently returned for insufficient funds or other reason for non payment, the Indenture Trustee shall, upon request of the Servicer, immediately withdraw such amount from the Distribution Account, and any such amounts shall not be included in the amounts to be deposited in the Distribution Account pursuant to Section 3.02(c), any provision herein to the contrary notwithstanding.

Withdrawals from the Distribution Account. From time to time, withdrawals may be made from the Distribution Account by the Indenture Trustee for the following purposes: (i) If not received by the Servicer pursuant to Section 3.02(c), to the Servicer as payment for its Servicing Fee pursuant to Section 3.08; (ii) To withdraw and retain any earnings on or investment income with respect to funds in or credited to the Distribution Account; (iii) To make or to permit the Indenture Trustee to make distributions and payments pursuant to Section 8.7 of the Indenture; (iv) To pay to the Servicer any Liquidation Expenses not reimbursed prior to the deposit of Net Liquidation Proceeds to the Distribution Account; (v) Prior to the last day of the Collection Period preceding the month in which the commencement of the Rapid Amortization Period occurs, to pay to the Sponsor the amount of any Additional Balances related to HELOC Mortgage Loans included in the Pool as and when created during the related Collection Period; provided, that the aggregate amount so paid to the Sponsor in respect of Additional Balances with respect to the HELOC Mortgage Loans at any time during any Collection Period shall not exceed the amount of Principal Collections theretofore received for such Collection Period;; and (vi) Upon termination of the Trust, to make any payments required by Section 7.01; and (vii) To pay the Credit Risk Manager the Credit Risk Manager Fee. Funds in the Distribution Account will remain uninvested. If the Servicer deposits in the Distribution Account any amount not required to be deposited therein or any amount in respect of payments by Mortgagors made by checks subsequently returned for insufficient funds or other reason for non payment, the Indenture Trustee shall, upon request of the Servicer, immediately withdraw such amount from the Distribution Account, and any such amounts shall not be included in the amounts to be deposited in the Distribution Account pursuant to Section 3.02(c), any provision herein to the contrary notwithstanding.

Withdrawals from the Distribution Account. From time to time, withdrawals may be made from the Distribution Account by the Indenture Trustee for the following purposes: (i) If not received by the Servicer pursuant to Section 3.02(c), to the Servicer as payment for its Servicing Fee pursuant to Section 3.08; (ii) To withdraw and retain any earnings on or investment income with respect to funds in or credited to the Distribution Account; (iii) To make or to permit the Indenture Trustee to make distributions and payments pursuant to Section 8.7 of the Indenture; (iv) To pay to the Servicer any Liquidation Expenses not reimbursed prior to the deposit of Net Liquidation Proceeds to the Distribution Account; (v) Prior to the last day of the Collection Period preceding the month in which the commencement of the Rapid Amortization Period occurs, to pay to the Sponsor the amount of any Additional Balances related to HELOC Mortgage Loans included in the Pool as and when created during the related Collection Period; provided, that the aggregate amount so paid to the Sponsor in respect of Additional Balances with respect to the HELOC Mortgage Loans at any time during any Collection Period shall not exceed the amount of Principal Collections theretofore received for such Collection Period;; and (vi) Upon termination of the Trust, to make any payments required by Section 7.01; and (vii) To pay the Credit Risk Manager the Credit Risk Manager Fee. Funds in the Distribution Account will remain uninvested. If the Servicer deposits in the Distribution Account any amount not required to be deposited therein or any amount in respect of payments by Mortgagors made by checks subsequently returned for insufficient funds or other reason for non payment, the Indenture Trustee shall, upon request of the Servicer, immediately withdraw such amount from the Distribution Account, and any such amounts shall not be included in the amounts to be deposited in the Distribution Account pursuant to Section 3.02(c), any provision herein to the contrary notwithstanding.

Withdrawals from the Distribution Account. From time to time, withdrawals may be made from the Distribution Account by the Indenture Trustee for the following purposes: (i) If not received by the Servicer pursuant to Section 3.02(c), to the Servicer as payment for its Servicing Fee pursuant to Section 3.08; (ii) To withdraw and retain any earnings on or investment income with respect to funds in or credited to the Distribution Account; (iii) To make or to permit the Indenture Trustee to make distributions and payments pursuant to Section 8.7 of the Indenture; (iv) To pay to the Servicer any Liquidation Expenses not reimbursed prior to the deposit of Net Liquidation Proceeds to the Distribution Account; (v) Prior to the last day of the Collection Period preceding the month in which the commencement of the Rapid Amortization Period occurs, to pay to the Sponsor the amount of any Additional Balances related to HELOC Mortgage Loans included in the Pool as and when created during the related Collection Period; provided, that the aggregate amount so paid to the Sponsor in respect of Additional Balances with respect to the HELOC Mortgage Loans at any time during any Collection Period shall not exceed the amount of Principal Collections theretofore received for such Collection Period;; and (vi) Upon termination of the Trust, to make any payments required by Section 7.01; and (vii) To pay the Credit Risk Manager the Credit Risk Manager Fee. Funds in the Distribution Account will remain uninvested. If the Servicer deposits in the Distribution Account any amount not required to be deposited therein or any amount in respect of payments by Mortgagors made by checks subsequently returned for insufficient funds or other reason for non payment, the Indenture Trustee shall, upon request of the Servicer, immediately withdraw such amount from the Distribution Account, and any such amounts shall not be included in the amounts to be deposited in the Distribution Account pursuant to Section 3.02(c), any provision herein to the contrary notwithstanding.