Pre-Funding Account Sample Clauses

Pre-Funding Account. (a) No later than the Closing Date, the Securities Administrator shall establish and maintain a trust account which at all times shall be an Eligible Account and shall be titled “Pre-Funding Account, Xxxxx Fargo Bank, National Association, in trust for the registered holders of Deutsche Alt-A Securities, Mortgage Loan Trust, Series 2006-AR2, Mortgage Pass-Through Certificates” (the “Pre-Funding Account”). The Securities Administrator shall, promptly upon receipt, deposit in the Pre-Funding Account and retain therein the Original Pre-Funded Amount remitted on the Closing Date by the Depositor. Funds deposited in the Pre-Funding Account shall be held in trust for the Certificateholders for the uses and purposes set forth herein. (b) The Securities Administrator will invest funds deposited in the Pre-Funding Account only as directed in writing by the Depositor (and such amounts shall not be invested if no direction is received by Securities Administrator) in Permitted Investments with a maturity date (i) no later than the Business Day immediately preceding the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if a Person other than the Securities Administrator or an Affiliate manages or advises such investment, (ii) no later than the date on which such funds are required to be withdrawn from such account pursuant to this Agreement, if the Securities Administrator or an Affiliate manages or advises such investment or (iii) within one (1) Business Day of the Securities Administrator’s receipt thereof. For federal income tax purposes, the Depositor shall be the owner of the Pre-Funding Account and shall report all items of income, deduction, gain or loss arising therefrom. All income and gain realized from investment of funds deposited in the Pre-Funding Account shall be transferred to the Depositor. The Depositor shall deposit in the Pre-Funding Account the amount of any net loss incurred in respect of any such Permitted Investment immediately upon realization of such loss without any right of reimbursement therefor. At no time will the Pre-Funding Account be an asset of any REMIC created hereunder. (c) Amounts on deposit in the Pre-Funding Account shall be withdrawn by the Securities Administrator as follows: (i) On any Subsequent Transfer Date, the Securities Administrator shall withdraw from the Pre-Funding Account an amount equal to 100% of the Principal Balances of the related Subsequent Loans as of the Sub...
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Pre-Funding Account. (a) Subject to the proviso set forth in Section 5.1(a)(iv), on the Closing Date, the Trustee will deposit, on behalf of the Seller, in the Pre-Funding Account $ from the net proceeds of the sale of the Notes. On each Subsequent Transfer Date, the Servicer shall instruct the Indenture Trustee to withdraw from the Pre-Funding Account an amount equal to: (i) the aggregate Contract Value of the Subsequent Receivables transferred to the Issuing Entity on such Subsequent Transfer Date less the amounts described in clause (ii) and clause (iii) below, and distribute such amount to or upon the order of the Seller upon satisfaction of the conditions set forth in Section 2.2(b) with respect to such transfer, (ii) the Spread Account Initial Deposit for such Subsequent Transfer Date and, on behalf of the Seller, deposit such amount in the Spread Account and (iii) the Principal Supplement Account Deposit for such Subsequent Transfer Date, and, on behalf of the Seller, deposit such amount in the Principal Supplement Account. (b) If: (i) the Pre-Funded Amount has not been reduced to zero on the Payment Date on which the Funding Period ends (or, if the Funding Period does not end on a Payment Date, on the first Payment Date following the end of the Funding Period) or (ii) the Pre-Funded Amount has been reduced to $ or less on any Determination Date, in either case after giving effect to any reductions in the Pre-Funded Amount on such date pursuant to paragraph (a), the Servicer shall instruct the Indenture Trustee to withdraw from the Pre-Funding Account, in the case of clause (i), on such Payment Date or, in the case of clause (ii), on the Payment Date immediately succeeding such Determination Date, the amount remaining at the time in the Pre-Funding Account (such remaining amount being the “Remaining Pre-Funded Amount”) and deposit such amounts in the Collection Account, for inclusion in the Total Distribution Amount for that Payment Date.]
Pre-Funding Account. On the Closing Date, the Depositor shall deposit in the Pre-Funding Account $0.00 (the “Pre-Funding Account Initial Deposit”) from the net proceeds of the sale of the Notes. On each Subsequent Transfer Date, if any, upon satisfaction of the conditions set forth in Section 2.03(b) with respect to such transfer, the Servicer shall instruct the Indenture Trustee to withdraw from the Pre-Funding Account (i) an amount equal to [RESERVED]% of the result of the aggregate Starting Principal Balance of the Subsequent Receivables transferred to the Trust on such Subsequent Transfer Date less the Yield Supplement Overcollateralization Amount with respect to such Subsequent Receivables as of the related Cutoff Date and (ii), on behalf of the Depositor, deposit into the Reserve Account a portion of such funds equal to the Reserve Account Subsequent Transfer Deposit with respect to such Subsequent Transfer Date and distribute the remainder to or upon the order of the Depositor as payment for such Subsequent Receivables. If the Pre-Funded Amount has not been reduced to zero on the Payment Date immediately following the calendar month in which the Funding Period, if any, ends, the Servicer shall instruct the Indenture Trustee to transfer from the Pre-Funding Account on such Payment Date any amount then remaining in the Pre-Funding Account to the Note Distribution Account for distribution in accordance with Section 8.02(g) of the Indenture.
Pre-Funding Account. (a) No later than the Closing Date, the Trustee will establish and maintain the Pre-Funding Account pursuant to the Pooling and Servicing Agreement. On the Closing Date, the Seller will deposit in the Pre-Funding Account the Original Pre-Funded Amount from the net proceeds of the sale of the Offered Certificates.
Pre-Funding Account. If applicable, on or before the first Distribution Date following a Series Pre-Funding Deadline, all amounts on deposit in the Series Pre-Funding Account shall be deposited into the Series Distribution Account.
Pre-Funding Account. (a) On the Closing Date, the Trust Collateral Agent will deposit, on behalf of and at the written direction of the Seller, in the Pre-Funding Account $521,248,622.73 from the proceeds of the sale of the Notes. (b) On each Subsequent Transfer Date, the Servicer shall instruct the Trust Collateral Agent in writing to withdraw from the Pre-Funding Account an amount equal to 92.5% of the Principal Balance of the Subsequent Receivables transferred to the Issuer on such Subsequent Transfer Date and, upon satisfaction of the conditions set forth in this Agreement with respect to such transfer, (i) to deposit in the Spread Account an amount equal to the related Subsequent Spread Account Deposit and (ii) to distribute the balance of the amount withdrawn from the Pre-Funding Account to or upon the order of the Seller. (c) If the Pre-Funded Amount has not been reduced to zero on the date on which the Funding Period ends after giving effect to any reductions in the Pre-Funded Amount on such date, the Servicer shall instruct the Trust Collateral Agent in writing to withdraw from the Pre-Funding Account on the Mandatory Redemption Date the Pre-Funded Amount (exclusive of any Pre-Funding Earnings) and deposit an amount equal to the Note Prepayment Amount in the Note Distribution Account.
Pre-Funding Account. (a) Pursuant to Section 5.1(b), the Trust Collateral Agent shall establish and maintain the Pre-Funding Account as an Eligible Account in the name of the Trust for the benefit of the Noteholders, the Class C Certificateholder and the Note Insurer. (b) On the Closing Date, the Transferor will deposit in the Pre-Funding Account an amount equal to the Original Pre-Funded Amount from the proceeds of the sale of the Notes. On each Subsequent Transfer Date, the Servicer shall instruct the Trust Collateral Agent in writing to withdraw from the Pre-Funding Account an amount equal to the aggregate Principal Balance of the Subsequent Receivables (as of the related Subsequent Cutoff Date) conveyed to the Trust on such Subsequent Transfer Date and pay such amount to or upon the order of the Transferor upon satisfaction of the conditions set forth in this Agreement and in the related Transfer Agreement with respect to such transfer. (c) If (i) the Pre-Funded Amount has not been reduced to zero by the close of business on the last day of the Funding Period, after giving effect to any reductions in the Pre-Funded Amount on such last day of the Funding Period pursuant to Section 5.13(b), the Servicer shall instruct the Trust Collateral Agent in writing to withdraw such remaining portion of the Pre-Funded Amount from the Pre-Funding Account and deposit it in the Note Account on the Final Funding Period Payment Date to be applied as a partial redemption of the Notes, in addition to the payment of principal and interest that otherwise would be payable with respect to such Notes on such Payment Date, in accordance with Section 5.6(c)(iv).
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Pre-Funding Account. (a) On the Closing Date, the Seller shall deposit in the Pre-Funding Account $[ ] from the net proceeds of the sale of the Notes. On or prior to the Business Day immediately preceding each Subsequent Transfer Date, the Servicer shall calculate the following amounts: (i) the aggregate Principal Balance of the Subsequent Receivables transferred to the Trust on such Subsequent Transfer Date, and (ii)
Pre-Funding Account. On or before the Closing Date, the Trustee shall establish the Pre-Funding Account on behalf of the Trust, which must be an Eligible Account. The Pre-Funding Account shall be entitled "Pre-Funding Account, U.S. Bank National Association as Trustee for the benefit of holders of Certificates, Series 1999-2." The Trustee shall maintain within the Pre-Funding Account two subaccounts, the Pre-Funding Subaccount and the
Pre-Funding Account. (a) The Trustee shall establish and shall thereafter maintain the Pre-Funding Account. The Pre-Funding Account shall be an Eligible Account. The Pre-Funding Account shall be entitled "Xxxxxx Trust and Savings Bank, as Trustee, for the benefit of registered holders of National Auto Trust Automobile Loan Asset-Backed Certificates, and the Certificate Insurer -- Pre-Funding Account." On the Closing Date, the Transferor shall deliver $7,747,810.67 to the Trustee for deposit in the Pre-Funding Account and the Trustee shall deposit such amount therein upon its receipt thereof. The Trustee also shall deposit into the Pre-Funding Account any income or gain earned from the investment of amounts on deposit in the Pre-Funding Account as received. (b) On each Subsequent Transfer Date, upon satisfaction of each of the conditions set forth in Section 2.06 with respect to the transfer of Additional Contracts to the Trust on such Subsequent Transfer Date, the Trustee shall withdraw from the Pre-Funding Account and pay to the Transferor the amount designated in the Transferor's written direction to the Trustee and the Master Servicer delivered pursuant to Section 2.06. On each Distribution Date, any income and gain earned from the investment of amounts on deposit in the Pre-Funding Account since the previous Distribution Date (or the Closing Date, in the case of the first Distribution Date) shall be deposited to the Certificate Account. On the Distribution Date related to the Reporting Date next succeeding termination of the Pre-Funding Period, the Trustee shall withdraw from the Pre-Funding Account and deposit in the Certificate Account the amount on deposit in the Pre-Funding Account as of the close of business on the last day of the Pre-Funding Period.
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