Common use of Permitted Withdrawals and Transfers from the Distribution Account Clause in Contracts

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iii) to pay investment income to the Trustee; (iv) to remove amounts deposited in error; and (v) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds and Principal Funds in the Distribution Account for each Loan Group to the holders of the Certificates in accordance with Section 5.04.

Appears in 8 contracts

Sources: Pooling and Servicing Agreement (Bear Stearns Asset Backed Certificates Series 2004-He2), Pooling and Servicing Agreement (Bear Stearns Asset-Backed Certificates Series 2004-He3), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-He11)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iii) to pay investment income to the Trustee; (iv) to remove amounts deposited in error; and (v) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds and Principal Funds in the Distribution Account for each Loan Group to the holders Holders of the Certificates in accordance with Section 5.04.

Appears in 5 contracts

Sources: Pooling and Servicing Agreement, Pooling and Servicing Agreement (Saco I Trust, 2005-Wm1), Pooling and Servicing Agreement (Saco I Trust, 2005-Wm2)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iii) to pay investment income to the Trustee; (iv) to remove amounts deposited in error; and (v) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds and Principal Funds in the Distribution Account for each Loan Group to the holders of the Certificates and the Certificate Insurer in accordance with Section 5.04.

Appears in 5 contracts

Sources: Pooling and Servicing Agreement (Bear Stearns Asst Asset Backed Certs Ser 2003 He1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-Fr2), Pooling and Servicing Agreement (Asset-Backed Certificates Series 2004-He1)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iii) to pay investment income to the Trustee; (iv) to remove amounts deposited in error; and (v) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds and Principal Funds in the Distribution Account for each Loan Group to the holders of the Certificates in accordance with Section 5.04.

Appears in 2 contracts

Sources: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC 2004-He4), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-He8)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will will, from time to time, make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposesas follows: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee for expenses, costs and liabilities incurred by or and reimbursable to it pursuant to this Agreement; (iiiii) to pay investment income to the TrusteeTrustee on amounts on deposit in the Distribution Account; (iviii) to remove amounts deposited in error; and (viv) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest the Available Funds and Principal Funds in the Distribution Account for each Loan Group to the holders Holders of the Certificates in accordance with Section 5.046.01.

Appears in 2 contracts

Sources: Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

Permitted Withdrawals and Transfers from the Distribution Account. (a) The Trustee will make or cause to be made such withdrawals or transfers from the Distribution Account for the following purposes: (i) to pay to itself the Trustee Fee; (ii) to reimburse the Trustee for expenses, costs and liabilities incurred by or reimbursable to it pursuant to this Agreement; (iii) to pay investment income to the TrusteeServicer; (iv) to remove amounts deposited in error; and (v) to clear and terminate the Distribution Account pursuant to Section 10.01. (b) On each Distribution Date, the Trustee shall distribute Interest Funds and Principal Funds to the extent of funds in the Distribution Account for each Loan Group to the holders of the Certificates in accordance with Section 5.04.

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-Bo1)