Payments from the Collection Account. (a) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall withdraw from the Collection Account the Total Remittance Amount (to the extent such amount is on deposit in the Collection Account) and shall pay such amount as specified in this Section. All allocations and payments made between and with respect to Group 1 and Group 2 in this Section shall be made concurrently.
Appears in 10 contracts
Samples: Custodial Agreement (Fieldstone Mortgage Investment CORP), Transfer and Servicing Agreement (SunTrust Mortgage Securitization, LLC), Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP)
Payments from the Collection Account. (a) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall withdraw from the Collection Account the Total Remittance Amount (to the extent such amount is on deposit in the Collection Account) and shall pay distribute such amount as specified in this Section. All allocations and payments distributions made between and with respect to Group 1 and Group 2 in this Section shall be made concurrently.
Appears in 2 contracts
Samples: Transfer and Servicing Agreement (Merrill Lynch Mort Inv Fieldstone Mort Inv Tr Ser 2004-1), Transfer and Servicing Agreement (Asset Backed Sec Corp Fieldstone Mort Inv Tr Ser 2004-2)
