Common use of Permitted Withdrawals from the Certificate Account Clause in Contracts

Permitted Withdrawals from the Certificate Account. The Trustee may from time to time withdraw funds from the Certificate Account for the following purposes: (i) to make distributions in the amounts and in the manner provided for in Section 3.05; (ii) to pay to the Person entitled thereto any amount deposited in the Certificate Account in error; (iii) to clear and terminate the Certificate Account upon the termination of this Agreement; and (iv) to pay itself, as additional compensation, the net reinvestment income permitted to be paid to it as provided in Section 3.03(b). On each Distribution Date, the Trustee shall withdraw all funds from the Certificate Account and shall use such funds withdrawn from the Certificate Account only for the purposes described in this Section 3.04 and in Section 3.05.

Appears in 4 contracts

Sources: Pooling Agreement (Bear Stearns Mortgage Securities Inc), Underwriting Agreement (Bear Stearns Mortgage Securities Inc), Pooling Agreement (Bear Stearns Mortgage Securities Inc)

Permitted Withdrawals from the Certificate Account. The Trustee may from time to time withdraw funds from the Certificate Account for the following purposes: (i) to make distributions in the amounts and in the manner provided for in Section 3.05; ; (ii) to pay to the Person entitled thereto any amount deposited in the Certificate Account in error; ; (iii) to pay any indemnification payments required pursuant to Section 5.05(b); (iv) to clear and terminate the Certificate Account upon the termination of this Agreement; and and (ivv) to pay itself, as additional compensation, the net reinvestment income permitted to be paid to it as provided in Section 3.03(b). On each Distribution Date, the Trustee shall withdraw all funds from the Certificate Account and shall use such funds withdrawn from the Certificate Account only for the purposes described in this Section 3.04 and in Section 3.05.

Appears in 2 contracts

Sources: Pooling Agreement (Structured Asset Mortgage Investments Ii Trust 2005-F1), Pooling Agreement (Structured Asset Mortgage Investments II Trust 2005-F2)

Permitted Withdrawals from the Certificate Account. The Trustee may from time to time withdraw funds from the Certificate Account for the following purposes: (i) to make distributions in the amounts and in the manner provided for in Section 3.05; (ii) to pay to the Person entitled thereto any amount deposited in the Certificate Account in error; (iii) to pay any indemnification payments required pursuant to Section 5.05(b); (iv) to clear and terminate the Certificate Account upon the termination of this Agreement; and (ivv) to pay itself, as additional compensation, the net reinvestment income permitted to be paid to it as provided in Section 3.03(b). On each Distribution Date, the Trustee shall withdraw all funds from the Certificate Account and shall use such funds withdrawn from the Certificate Account only for the purposes described in this Section 3.04 and in Section 3.05.

Appears in 1 contract

Sources: Pooling Agreement (Structured Asset Mortgage Investments II Trust 2005-F3)

Permitted Withdrawals from the Certificate Account. The Trustee Securities Administrator may from time to time withdraw funds from the Certificate Account for the following purposes: (i) to make distributions in the amounts and in the manner provided for in Section 3.05; (ii) to pay to the Person entitled thereto any amount deposited in the Certificate Account in error; (iii) to clear and terminate the Certificate Account upon the termination of this Agreement; and (iv) to pay itself, as additional compensation, the net reinvestment income permitted to be paid to it as provided in Section 3.03(b). On each Distribution Date, the Trustee Securities Administrator shall withdraw all funds from the Certificate Account and shall use such funds withdrawn from the Certificate Account only for the purposes described in this Section 3.04 and in Section 3.05.

Appears in 1 contract

Sources: Pooling Agreement (Bear Stearns ARM Trust 2006-3)

Permitted Withdrawals from the Certificate Account. The Trustee may from time to time withdraw funds from the Certificate Account for the following purposes: (i) to make distributions in the amounts and in the manner provided for in Section 3.05; (ii) to pay to the Person person entitled thereto any amount deposited in the Certificate Account in error; (iii) to clear and terminate the Certificate Account upon the termination of this Agreement; and (iv) to pay itself, as additional compensation, the net reinvestment income permitted to be paid to it as provided in Section 3.03(b3.03(B). On each Distribution Date, the Trustee shall withdraw all funds from the Certificate Account and shall use such funds withdrawn from the Certificate Account only for the purposes described in this Section 3.04 and in Section 3.05.

Appears in 1 contract

Sources: Pooling Agreement (Bear Stearns Mortgage Securities Inc)