Common use of Withdrawals from the Collection Account Clause in Contracts

Withdrawals from the Collection Account. The Trust Administrator shall withdraw or cause to be withdrawn funds from the Collection Account for the following purposes: (i) one Business Day prior to each Distribution Date, to deposit the portion of Available Funds then in the Collection Account to the Distribution Account; (ii) to reimburse the Master Servicer for any accrued and unpaid Servicing Fees; (iii) to withdraw any amount received from a Mortgagor that is recoverable and sought to be recovered as a voidable preference by a trustee in bankruptcy pursuant to the United States Bankruptcy Code in accordance with a final, nonappealable order of a court having competent jurisdiction; (iv) subject to Section 4.05 hereof, to make investments in Eligible Investments and to pay to the Master Servicer interest earned in respect of Eligible Investments or on funds deposited in the Collection Account; (v) to withdraw any funds deposited in the Collection Account that were not required to be deposited therein or were deposited therein in error and to pay such funds to the appropriate Person after written notice of such error is received and verified by the Trust Administrator; (vi) to pay the Master Servicer servicing compensation pursuant to Section 3.08 to the extent not retained or paid pursuant to Section 3.02(b); (vii) to withdraw funds necessary for the conservation, operation, management, maintenance and disposition of REO Property pursuant to Section 3.06 to the extent not advanced by the Master Servicer; and (viii) to clear and terminate the Collection Account upon the termination of this Agreement and to pay any amounts remaining therein to the Transferor.

Withdrawals from the Collection Account. The Trust Administrator Servicer shall withdraw or cause to be withdrawn funds from the Collection Account for the following purposes: (i) one Business Day prior to on each Distribution Payment Date, to deposit the portion of Available Funds the Interest Collections and Principal Collections for the related Due Period then in the Collection Account to the Distribution Account; (ii) to reimburse the Master Servicer for any accrued and unpaid Servicing Fees; (iii) to withdraw any amount received from a Mortgagor that is recoverable and sought to be recovered as a voidable preference by a trustee in bankruptcy pursuant to the United States Bankruptcy Code in accordance with a final, nonappealable order of a court having competent jurisdiction; (iv) subject to Section 4.05 5.06 hereof, to make investments in Eligible Investments and to pay to the Master Servicer interest earned in respect of Eligible Investments or on funds deposited in the Collection Account; (v) to withdraw any funds deposited in the Collection Account that were not required to be deposited therein or were deposited therein in error and to pay such funds to the appropriate Person after written notice of such error is received and verified by the Trust AdministratorPerson; (vi) to pay the Master Servicer the servicing compensation for the related Due Period that it is entitled to receive pursuant to Section 3.08 3.09 herein to the extent not retained or paid pursuant to Section 3.02(b)) hereof; (vii) to withdraw funds necessary for the conservation, operation, management, maintenance conservation and disposition of REO Property pursuant to Section 3.06 3.07 to the extent not advanced by the Master Servicer; and (viii) to clear and terminate the Collection Account upon the termination of this Agreement and to pay any amounts remaining therein to the Transferor.