Common use of Withdrawals from the Collection Account Clause in Contracts

Withdrawals from the Collection Account. From time to time, withdrawals may be made from the Collection Account by the Servicer or the Indenture Trustee for the following purposes: (i) If not received by the Servicer pursuant to Section 3.02(b), to the Servicer as payment for its Servicing Fee pursuant to Section 3.08; (ii) To pay to the Servicer amounts on deposit in the Collection Account that are not to be included in the distributions and payments pursuant to Section 8.7 of the Indenture to the extent provided by the second to the last and the last paragraph of Section 3.02(b); (iii) To make or to permit the Indenture Trustee to make distributions and payments pursuant to Section 8.7 of the Indenture; (iv) Prior to the Collection Period preceding the commencement of the Rapid Amortization Period, to pay to the Sponsor the amount of any Additional Balances related to HELOC Mortgage Loans included in the Pool as and when created during the related Collection Period; PROVIDED, that the aggregate amount so paid to the Sponsor in respect of Additional Balances with respect to the HELOC Mortgage Loans at any time during any Collection Period shall not exceed the amount of Principal Collections theretofore received for such Collection Period; (v) To pay to the Servicer any Liquidation Expenses not reimbursed prior to the deposit of Net Liquidation Proceeds to the Collection Account; (vi) Upon termination of the Trust, to make any payments required by Section 7.01. If the Servicer deposits in the Collection Account any amount not required to be deposited therein or any amount in respect of payments by Mortgagors made by checks subsequently returned for insufficient funds or other reason for non-payment it may at any time withdraw such amount from the Collection Account, and any such amounts shall not be included in the amounts to be deposited in the Collection Account pursuant to Section 3.02(b), any provision herein to the contrary notwithstanding.

Withdrawals from the Collection Account. From time to time, withdrawals may be made from the Collection Account by the Servicer or the Indenture Trustee for the following purposes: (i) If not received by the Servicer pursuant to Section 3.02(b), to To the Servicer as payment for its Servicing Fee pursuant to Section 3.08; (ii) To pay to the Servicer amounts on deposit in the Collection Account that are not to be included in the distributions and payments pursuant to Section 8.7 of the Indenture 5.01 to the extent provided by the second to the last and the last paragraph of Section 3.02(b); (iii) To make or to permit the Indenture Trustee Paying Agent to make distributions and payments pursuant to Section 8.7 of the Indenture5.01; (iv) Prior to the Collection Period preceding the commencement of the Rapid Amortization PeriodCommencement Date, to pay to the Sponsor Transferor, the amount of any Additional Balances related to HELOC Mortgage Loans included in the Pool as and when created during the related Collection Period; PROVIDED, that the aggregate amount so paid to the Sponsor Transferor in respect of Additional Balances with respect to the HELOC Mortgage Loans at any time during any Collection Period shall not exceed the amount of Principal Collections theretofore received for such Collection Period;Period minus the amount determined pursuant to clause (x) of the definition of "ALTERNATIVE PRINCIPAL PAYMENT"; and (v) To pay make deposits to the Servicer any Liquidation Expenses not reimbursed prior Funding Account pursuant to the deposit of Net Liquidation Proceeds to the Collection Account; (vi) Upon termination of the Trust, to make any payments required by Section 7.015.05 hereof. If the Servicer deposits in the Collection Account any amount not required to be deposited therein or any amount in respect of payments by Mortgagors made by checks subsequently returned for insufficient funds or other reason for non-payment it may at any time withdraw such amount from the Collection Account, and any such amounts shall not be included in the amounts to be deposited in the Collection Account pursuant to Section 3.02(b), any provision herein to the contrary notwithstanding.

Withdrawals from the Collection Account. From time to time, withdrawals may be made from the Collection Account by the Servicer or the Indenture Trustee for the following purposes: (i) If not received by the Servicer pursuant to Section 3.02(b), to the Servicer as payment for its Servicing Fee pursuant to Section 3.08; (ii) To pay to the Servicer amounts on deposit in the Collection Account that are not to be included in the distributions and payments pursuant to Section 8.7 of the Indenture to the extent provided by the second to the last and the last paragraph of Section 3.02(b); (iii) To make or to permit the Indenture Trustee to make distributions and payments pursuant to Section 8.7 of the Indenture; (iv) Prior to the Collection Period preceding the commencement of the Rapid Amortization Period, to pay to the Sponsor Depositor the amount of any Additional Balances related to HELOC Mortgage Loans included in the Pool as and when created during the related Collection Period; PROVIDEDprovided, that the aggregate amount so paid to the Sponsor Depositor in respect of Additional Balances with respect to the HELOC Mortgage Loans at any time during any Collection Period shall not exceed the amount of Principal Collections theretofore received for such Collection Period; (v) To pay to the Servicer any Liquidation Expenses not reimbursed prior to the deposit of Net Liquidation Proceeds to the Collection Account; (vi) Upon termination of the Trust, to make any payments required by Section 7.01. If the Servicer deposits in the Collection Account any amount not required to be deposited therein or any amount in respect of payments by Mortgagors made by checks subsequently returned for insufficient funds or other reason for non-payment it may at any time withdraw such amount from the Collection Account, and any such amounts shall not be included in the amounts to be deposited in the Collection Account pursuant to Section 3.02(b), any provision herein to the contrary notwithstanding.