Permitted Withdrawals From 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 Purchaser in the amounts and in the manner provided for in Section 5.01;
(ii) to reimburse itself for Monthly Advances of the Company's funds made pursuant to Section 5.03, the Company's right to reimburse itself pursuant to this subclause (ii) being limited to amounts received on the related Mortgage Loan which represent late payments of principal and/or interest respecting which any such advance was made, it being understood that, in the case of any such reimbursement, the Company's right thereto shall be prior to the rights of Purchaser, except that, where the Company is required to repurchase a Mortgage Loan pursuant to Section 3.03 or 6.02, the Company's right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to such sections and all other amounts required to be paid to the Purchaser with respect to such Mortgage Loan;
(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 to related Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds and such other amounts as may be collected by the Company from the Mortgagor or otherwise relating to the Mortgage Loan, it being understood that, in the case of any such reimbursement, the Company's right thereto shall be prior to the rights of Purchaser, except that where the Company is required to repurchase a Mortgage Loan pursuant to Section 3.03 or 6.02, in which case the Company's right to such reimbursement shall be subsequent to the payment to the Purchaser of the Repurchase Price pursuant to such sections and all other amounts required to be paid to the Purchaser with respect to such Mortgage Loan;
(iv) to pay itself interest on funds deposited in the Custodial Account;
(v) to reimburse itself for expenses incurred and reimbursable to it pursuant to Section 8.01;
(vi) to pay any amount required to be paid pursuant to Section 4.16 related to any REO Property, it being understood that, in the case of any such expenditure or withdrawal related to a particular REO Property, the amount of such expenditure or withdrawal from the Custodial Account shall be limited to amounts on deposit in the Custodial Account with respect to the related REO Property;
(vii...
Permitted Withdrawals From Custodial Account. The Servicer shall, from time to time, withdraw funds from the Custodial Account for the following purposes:
(i) to make payments to the Master Servicer in the amounts and in the manner provided for in Section 4.01;
(ii) with respect to each LPMI Loan, in the amount of the related LPMI Fee, to make payments with respect to premiums for LPMI Policies in accordance with Section 3.07;
(iii) in the event the Servicer has elected not to retain the Servicing Fee out of any Mortgagor payments on account of interest or other recovery of interest with respect to a particular Mortgage Loan (including late collections of interest on such Mortgage Loan, or interest portions of Insurance Proceeds, Condemnation Proceeds or Liquidation Proceeds) prior to the deposit of such Mortgagor payment or recovery in the Custodial Account, to pay to itself the related Servicing Fee from all such Mortgagor payments on account of interest or other such recovery for interest with respect to that Mortgage Loan;
(iv) to pay itself investment earnings on funds deposited in the Custodial Account;
(v) to clear and terminate the Custodial Account upon the termination of this Agreement;
(vi) to transfer funds to another Eligible Institution in accordance with Section 3.11 hereof;
(vii) to invest funds in certain Eligible Investments in accordance with Section 3.11 hereof;
(viii) to reimburse itself to the extent of funds in the Custodial Account for Monthly Advances of the Servicer’s funds made pursuant to Section 4.03, the Servicer's right to reimburse itself pursuant to this subclause (viii) with respect to any Mortgage Loan being limited to amounts received on or in respect of the related Mortgage Loan which represent late recoveries of payments of principal or interest with respect to which a Monthly Advance was made, it being understood that, in the case of any such reimbursement, the Servicer’s right thereto shall be prior to the rights of the Trust Fund, provided, however, that following the final liquidation of a Mortgage Loan, the Servicer may reimburse itself for previously unreimbursed Monthly Advances in excess of Liquidation Proceeds or Insurance Proceeds with respect to such Mortgage Loan from any funds in the Custodial Account, it being understood, in the case of any such reimbursement, that the Servicer’s right thereto shall be prior to the rights of the Trust Fund. The Servicer may recover at any time from amounts on deposit in the Custodial Account the amount of any Monthly...
Permitted Withdrawals From Custodial Account. The Servicer shall, from time to time, withdraw funds from the Custodial Account for the following purposes:
(i) to make payments to the Master Servicer in the amounts and in the manner provided for in Section 4.01;
(ii) to deposit the Seller Remittance Amount into the collection account maintained by the Master Servicer for payment by the Master Servicer to the Seller on the next succeeding Distribution Date;
(iii) in the event the Servicer has elected not to retain the Xxxxx Fargo Servicing Fee out of any Mortgagor payments on account of interest or other recovery of interest with respect to a particular Mortgage Loan (including late collections of interest on such Mortgage Loan, or interest portions of Insurance Proceeds, Liquidation Proceeds or Condemnation Proceeds) prior to the deposit of such Mortgagor payment or recovery in the Custodial Account, to pay to itself the related Xxxxx Fargo Servicing Fee from all such Mortgagor payments on account of interest or other such recovery for interest with respect to that Mortgage Loan;
(iv) following the liquidation of a Mortgage Loan, to reimburse itself for unreimbursed Monthly Advances and Servicing Advances, the Servicer’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, REO Disposition Proceeds and other amounts received in respect of the related REO Property, and such other amounts as may be collected by the Servicer from the Mortgagor or otherwise relating to such Mortgage Loan, it being understood that, in the case of any such reimbursement, the Servicer’s right thereto shall be prior to the rights of the Trust Fund;
(v) to first reimburse itself for any unpaid Xxxxx Fargo Servicing Fees and then to reimburse the Seller for any unpaid Seller Remittance Amount not paid pursuant to clause (ii), the Servicer’s and/or the Seller’s right to reimbursement pursuant to this subclause (v) with respect to any Mortgage Loan being limited to related Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds, REO Disposition Proceeds and other amounts received in respect of the related REO Property, and such other amounts as may be collected by the Servicer from the Mortgagor or otherwise relating to the Mortgage Loan, it being understood that, in the case of any such reimbursement, the Servicer’s and /or the Seller’s right thereto shall be prior to the rights of the Trust Fun...
Permitted Withdrawals From Custodial Account. 17 Section 3.06 Establishment of and Deposits to Escrow Account...............18 Section 3.07 Permitted Withdrawals From Escrow Account.....................19 Section 3.08
Permitted Withdrawals From Custodial Account. 17 Section 3.05 Establishment of and Deposits to Escrow Account...........................................19 Section 3.06 Permitted Withdrawals From Escrow Account.................................................19 Section 3.07 Maintenance of PMI Policy and/or LPMI Policy; Claims......................................20 Section 3.08 Fidelity Bond and Errors and Omissions Insurance..........................................21 Section 3.09
Permitted Withdrawals From Custodial Account. Section 2.06 Establishment of and Deposits to Escrow Account............... Section 2.07
Permitted Withdrawals From Custodial Account. Establishment of and Deposits to Escrow Account.
Permitted Withdrawals From Custodial Account. Subject to Section 5.01, the Servicer shall be entitled to withdraw funds from the Custodial Account for the following purposes:
(i) to make payments to the Owner (or as otherwise directed by the Owner in writing) in the amounts and in the manner provided in Section 5.01;
(ii) to fund any Liquidity Reserve Account or any Litigation Reserve Account as and to the extent required by Section 4.17;
(iii) following the liquidation of a Non-Agency Mortgage Loan, to reimburse itself for (a) any unpaid Servicing Advances to the extent recoverable from Liquidation Proceeds, Insurance Proceeds or other amounts received with respect to the related Non-Agency Mortgage Loan plus (b) related unreimbursed Nonrecoverable Advances made by the Servicer in accordance with this Agreement;
(iv) to invest funds in Eligible Investments in accordance with Section 4.09;
(v) to withdraw funds deposited in the Custodial Account in error;
(vi) to pay to itself any interest earned on funds deposited in the Custodial Account (all such interest to be withdrawn monthly not later than each Remittance Date); and
(vii) to clear and terminate the Custodial Account upon the termination of the Servicing Agreement. The Servicer 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 subclause (iii) above.
Permitted Withdrawals From Custodial Account. 8 Section 2.06 Establishment of and Deposits to Escrow Account............................................8 Section 2.07 Permitted Withdrawals From Escrow Account..................................................9 Section 2.08 Payment of Taxes, Insurance and Other Charges.............................................10 Section 2.09 PMI Obligations...........................................................................10 Section 2.10 Protection of Accounts....................................................................10 Section 2.11 Maintenance of Hazard Insurance...........................................................11 Section 2.12 Maintenance of Mortgage Impairment Insurance..............................................12 Section 2.13 Maintenance of Fidelity Bond and Errors and Omissions Insurance...........................12 Section 2.14 Inspections...............................................................................13 Section 2.15 Restoration of Mortgaged Property.........................................................13 Section 2.16 Maintenance of PMI Policy; Claims.........................................................14 Section 2.17 Title, Management and Disposition of REO Property.........................................14 Section 2.18 Permitted Withdrawals with respect to REO Property........................................15 Section 2.19 Real Estate Owned Reports.................................................................16
Permitted Withdrawals From Custodial Account. Section 3.05. Establishment of and Deposits to Escrow Account. Section 3.06. Permitted Withdrawals From Escrow Account. 18 Section 3.07. Notification of Adjustments. 19 Section 3.08. [Reserved.] Section 3.09. Protection of Accounts. Section 3.10. Maintenance of Hazard Insurance. 20 Section 3.11. Maintenance of Mortgage Impairment Insurance. Section 3.12. Maintenance of Fidelity Bond and Errors and Omissions Insurance. 22 Section 3.13. Inspections. Section 3.14. Restoration of Mortgaged Property. Section 3.15. Maintenance of PMI Policy and/or LPMI Policy; Claims. Section 3.16. Title, Management and Disposition of REO Property Section 3.17. Real Estate Owned Reports. 27 Section 3.18. Liquidation Reports. Section 3.19. Reports of Foreclosures and Abandonments of Mortgaged Property. 28 Section 3.20. Prepayment Charges. 28 Section 3.21. Advance Facility Section 3.22. Credit Reporting. 30 Section 3.23. Safeguarding Customer Information. 30
