PAYMENTS TO THE CERTIFICATEHOLDERS. 68 Section 6.01 Distributions............................................. 68 Section 6.02 Statements to the Certificateholders...................... 71 Section 6.03 Advances by the Servicer.................................. 74 Section 6.04 Allocation of Realized Losses............................. 74 Section 6.05 Compensating Interest; Allocation of Certain Interest Shortfalls................................................ 75 Section 6.06 Subordination............................................. 76 Section 6.07
PAYMENTS TO THE CERTIFICATEHOLDERS. Section 6.01. Establishment of Certificate Account; Deposits in Certificate Account; Permitted Withdrawals from Certificate Account.
(a) No later than the Closing Date, the Trustee will establish and maintain with itself in its trust department a trust account, which shall not be interest-bearing, titled "Certificate Account, Marine Midland Bank, as trustee for the registered holders of Business Loan Center SBA Loan-Backed Adjustable Rate Certificates, Series 1997-1, Class A and Class B" (the "Certificate Account"). The Trustee shall, promptly upon receipt, deposit in the Certificate Account and retain therein:
(i) the Available Funds (net of the amount of Monthly Advances and Compensating Interest deposited pursuant to subclause (ii) below and amounts then on deposit in the Spread Account) remitted by the Servicer;
(ii) the Compensating Interest and the portion of the Monthly Advance remitted to the Trustee by the Servicer;
(iii) amounts transferred from the Spread Account pursuant to Section 6.02(b)(i);
(iv) amounts required to be paid by the Servicer pursuant to Section 6.06(e) in connection with losses on investments of amounts in the Certificate Account; and
(v) amounts transferred from the Pre-Funding Account and the Capitalized Interest Account on the Special Remittance Date pursuant to Sections 6.04(c) and (d) respectively.
(b) Amounts on deposit in the Certificate Account shall be withdrawn on each Remittance Date by the Trustee, or the Paying Agent, on its behalf, to effect the distribution described in Section 6.07(b) and thereafter by the following parties in no particular order of priority:
(i) by the Trustee, to invest amounts on deposit in the Certificate Account in Permitted Instruments pursuant to Section 6.06;
(ii) by the Trustee, to pay on a monthly basis to the Servicer as additional servicing compensation interest paid and earnings realized on Permitted Instruments;
(iii) by the Trustee, to withdraw any amount not required to be deposited in the Certificate Account or deposited therein in error; and
(iv) by the Trustee, to clear and terminate the Certificate Account upon the termination of this Agreement in accordance with the terms of Section 11.01 hereof.
PAYMENTS TO THE CERTIFICATEHOLDERS. Section 6.01. Distributions........................................................................... Section 6.02. Statements to the Certificateholders.................................................... Section 6.03.
PAYMENTS TO THE CERTIFICATEHOLDERS. Section 6.01 Establishment of Collection Account; Deposit in Accounts.........................................75 Section 6.02 Permitted Withdrawals from Collection Account....................................................76 Section 6.03 Establishment of Insurance Account: Deposits in Insurance Account: Permitted Withdrawals from Insurance Account...................................................76 Section 6.04
PAYMENTS TO THE CERTIFICATEHOLDERS. ..1 Section 6.01 Establishment of Certificate Accounts; Deposits in Certificate Accounts; Permitted Withdrawals from Certificate Accounts........
PAYMENTS TO THE CERTIFICATEHOLDERS. Establishment of Certificate Account; Deposits in Certificate Account; Permitted Withdrawals from Certificate Account.
PAYMENTS TO THE CERTIFICATEHOLDERS. Establishment of Note Distribution Account; Deposits in Note Distribution Account; Permitted Withdrawals from Note Distribution Account.
PAYMENTS TO THE CERTIFICATEHOLDERS. WITHDRAWALS ----------------------------------------------- FROM CERTIFICATE ACCOUNTS -------------------------
PAYMENTS TO THE CERTIFICATEHOLDERS. Section 5.01 Establishment of Note Distribution Account; Deposits in Note Distribution Account; Permitted Withdrawals from Note Distribution Account ...........
PAYMENTS TO THE CERTIFICATEHOLDERS. 90 Section 6.01. Establishment of Collection Accounts; Deposit in Accounts. ........................................ 90 Section 6.02. Permitted Withdrawals from REMIC I Distribution Account, REMIC II Distribution Account and REMIC III Distribution Account. ......................................................................... 91 Section 6.03. Establishment of Insurance Account: Deposits in Insurance Account: Permitted Withdrawals from Insurance Account. ................................................................................ 92 Section 6.04. Investment of Accounts. ........................................................................... 92 Section 6.05. Priority and Subordination of Distributions. ...................................................... 93 Section 6.06. [Reserved]. ....................................................................................... 113 Section 6.07. Statements. ....................................................................................... 113 Section 6.08. Advances by the Servicer. ......................................................................... 116
