Common use of Deposits to the Distribution Account Clause in Contracts

Deposits to the Distribution Account. On each Servicer Distribution Date, the Servicer shall cause to be deposited in the Distribution Account, from funds on deposit in the Collection Account, (a) an amount equal to the Servicer Remittance Amount and (b) Net Foreclosure Profits, if any with respect to the related Distribution Date, minus any portion thereof payable to the Servicer pursuant to Section 5.03. On each Servicer Distribution Date, the Servicer shall also deposit into the Distribution Account any Periodic Advances with respect to the related Distribution Date calculated in accordance with Section 5.18 and any amounts required to be deposited in connection with a Subsequent Mortgage Loan pursuant to Section 2.14(b) of the Indenture; on the Servicer Distribution Dates occurring in December 1998 and January 1999, the Servicer also will deposit the related Special Advance pursuant to Section 5.18(b).

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Prudential Securities Secured Financing Corp), Sale and Servicing Agreement (American Business Financial Services Inc /De/)

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Deposits to the Distribution Account. On each Servicer Distribution Date, the Servicer shall cause to be deposited in the Distribution Account, from funds on deposit in the Collection Account, (a) an amount equal to the Servicer Remittance Amount and (b) Net Foreclosure Profits, if any with respect to the related Distribution Date, minus any portion thereof payable to the Servicer pursuant to Section 5.03. On each Servicer Distribution Date, the Servicer shall also deposit into the Distribution Account any Periodic Advances with respect to the related Distribution Date calculated in accordance with Section 5.18 and any amounts required to be deposited in connection with a Subsequent Mortgage Loan pursuant to Section 2.14(b) of the Indenture; on the Servicer Distribution Dates Date occurring in December 1998 July 1999 and January August 1999, the Servicer also will deposit the related Special Advance pursuant to Section 5.18(b).

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Prudential Securities Secured Financing Corp), Sale and Servicing Agreement (American Business Financial Services Inc /De/)

Deposits to the Distribution Account. On each Servicer Distribution Date, the Servicer shall cause to be deposited in the Distribution Account, from funds on deposit in the Collection Account, (a) an amount equal to the Servicer Remittance Amount and (b) Net Foreclosure Profits, if any with respect to the related Distribution Date, minus any portion thereof payable to the Servicer pursuant to Section 5.03. On each Servicer Distribution Date, the Servicer shall also deposit into the Distribution Account any Periodic Advances with respect to the related Distribution Date calculated in accordance with Section 5.18 and any amounts required to be deposited in connection with a Subsequent Mortgage Loan pursuant to Section 2.14(b) of the Indenture; on the Servicer Distribution Dates Date occurring in December 1998 and January April 1999, the Servicer also will deposit the related Special Advance pursuant to Section 5.18(b).

Appears in 1 contract

Samples: Sale and Servicing Agreement (Prudential Securities Secured Financing Corp)

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Deposits to the Distribution Account. On each Servicer Distribution Date, the Servicer shall cause to be deposited in the Distribution Account, from funds on deposit in the Collection Account, (a) an amount equal to the Servicer Remittance Amount and (b) Net Foreclosure Profits, if any with respect to the related Distribution Date, minus any portion thereof payable to the Servicer pursuant to Section 5.03. On each Servicer Distribution Date, the Servicer shall also deposit into the Distribution Account any Periodic Advances with respect to the related Distribution Date calculated in accordance with Section 5.18 and any amounts required to be deposited in connection with a Subsequent Mortgage Loan pursuant to Section 2.14(b) of the Indenture; on the Servicer Distribution Dates Date occurring in December 1998 and January 1999_______, the Servicer also will deposit the related Special Advance pursuant to Section 5.18(b).

Appears in 1 contract

Samples: Sale and Servicing Agreement (Prudential Securities Secured Financing Corp)

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