Amounts Held for Future Distribution definition

Amounts Held for Future Distribution. As to any Remittance Date, amounts on account of (i) all Unscheduled Principal Receipts received after the last day of the Applicable Unscheduled Principal Receipt Period ending in the month of such Remittance Date and all related payments of interest on such principal prepayments and amounts received from the Servicer or a Representing Party in the month of such Remittance Date as the Purchase Price for any repurchased Mortgage Loan and (ii) payments which represent early receipt of scheduled payments of principal and interest due on a date or dates subsequent to the related Due Date.

Amounts Held for Future Distribution. As to any Distribution Date, the aggregate amount held in the Collection Account at the close of business on the immediately preceding Determination Date on account of (i) all Monthly Payments or portions thereof received in respect of the Mortgage Loans due after the related Due Period and (ii) Principal Prepayments and Liquidation Proceeds received in respect of such Mortgage Loans after the last day of the related Prepayment Period.

Amounts Held for Future Distribution. As to the Certificates on any Distribution Date, the aggregate amount held in the Collection Account at the close of business on the related Determination Date on account of (i) Principal Prepayments, Insurance Proceeds, Condemnation Proceeds, Liquidation Proceeds and Subsequent Recoveries on the Mortgage Loans received after the end of the related Prepayment Period and (ii) all Scheduled Payments on the Mortgage Loans due after the end of the related Due Period.

Examples of Amounts Held for Future Distribution in a sentence

• In lieu of making all or a portion of such Advance from its own funds, the Company may (i) cause to be made an appropriate entry in its records relating to the Protected Account that any Amounts Held for Future Distribution has been used by the Company in discharge of its obligation to make any such Advance and (ii) transfer such funds from the Protected Account to the Distribution Account.

• If the Servicer fails to restore any such Amount Held for Future Distribution at the time when it is required to do so pursuant to this Section 4.2(c), and does not correct such failure within one (1) Business Day, then the Servicer covenants hereunder that it shall no longer use any Amounts Held for Future Distribution in making any of its P&I Advances at any time on or after such failure.

• In lieu of making all or a portion of such Advance from its own funds, the Servicer may (i) cause to be made an appropriate entry in its records relating to the Custodial Account that any Amounts Held for Future Distribution has been used by the Servicer in discharge of its obligation to make any such Advance and (ii) transfer such funds from the Custodial Account to the Distribution Account.

• In lieu of making all or a portion of such Advance from its own funds, the Company may (i) cause to be made an appropriate entry in its records relating to the Protected Account that any Amounts Held for Future Distribution has been used by the Company in discharge of its obligation to make any such Advance and (ii) transfer such funds from the Protected Account to the Master Servicer Collection Account.

• In lieu of making all or a portion of such Advance from its own funds, the Servicer may (i) cause to be made an appropriate entry in its records relating to its Custodial Account that any Amounts Held for Future Distribution has been used by it in discharge of its obligation to make any such Advance and (ii) transfer such funds from its Custodial Account to the Distribution Account.

More Definitions of Amounts Held for Future Distribution

Amounts Held for Future Distribution. As defined in Section 4.2(c).

Amounts Held for Future Distribution on deposit in each Dedicated Collection Account, to the related MBS Trustee as part of the Servicer’s monthly P&I Advances required under the related Designated Servicing Agreement. The Servicer shall deposit the full amount of any Amount Held for Future Distribution with respect to each Designated Servicing Agreement that were so used by the Servicer, in any month, back into the related Dedicated Collection Account, to the extent not restored already out of Advance Reimbursement Amounts, by no later than the date on which the Servicer would have been required to remit such amount to the related MBS Trustee as a current monthly Mortgage Loan collection, or earlier if so required under the related Servicing Agreement. If the Servicer fails to restore any such Amount Held for Future Distribution at the time when it is required to do so pursuant to this Section 4.2(c), and does not correct such failure within one (1) Business Day, then the Servicer covenants hereunder that it shall no longer use any Amounts Held for Future Distribution in making any of its P&I Advances at any time on or after such failure.

Amounts Held for Future Distribution. As to any Distribution Date, the aggregate amount held in the Custodial Accounts and the Collection Account at the close of business on the immediately preceding Determination Date on account of (i) all Monthly Payments or portions thereof received in respect of the Mortgage Loans due after the related Due Period and (ii) Principal Prepayments and Liquidation Proceeds received in respect of such Mortgage Loans after the last day of the related Prepayment Period.

Amounts Held for Future Distribution. As to any Distribution Date, the aggregate amount held in the Protected Account on any date of determination on account of (i) all Scheduled Payments or portions thereof received in respect of the Mortgage Loans due after the related Due Period, (ii) Principal Prepayments, received in respect of such Mortgage Loans after the last day of the related Prepayment Period and (iii) Liquidation Proceeds, Subsequent Recoveries and Insurance Proceeds received in respect of such Mortgage Loans after the last day of the calendar month immediately preceding such Distribution Date.

Amounts Held for Future Distribution. As to any Payment Date, all payments of interest and principal, including all partial Principal Prepayments applied and all Principal Prepayments in full and interest thereon, collected by the Servicer with respect to the Assets during the period commencing on the first day of the month in which such Payment Date occurs to and including the second Business Day preceding such Payment Date minus amounts permitted to be withdrawn by the Servicer from the Collection Account pursuant to clauses (c) - (f), inclusive, of Section 3.06 of the Servicing Agreement as of the close of business on the second Business Day preceding such Payment Date with respect to such amounts collected.

Amounts Held for Future Distribution. As to any Distribution Date, the aggregate amount held in a Servicer’s Custodial Account at the close of business on the immediately preceding Determination Date on account of (i) all Scheduled Payments or portions thereof received in respect of the related Mortgage Loans due after the related Due Period and (ii) Principal Prepayments and Liquidation Proceeds received in respect of the related Mortgage Loans after the last day of the related Prepayment Period.

Amounts Held for Future Distribution. With respect to any Series and Distribution Date, the total of all amounts held in the Collection Account on the preceding Certificate Account Deposit Date on account of (i) Principal Prepayments, Liquidation Proceeds and REO Proceeds received subsequent to the preceding Prepayment Period, (ii) Installment Payments due subsequent to the preceding Due Date and (iii) if such Series is comprised of two or more Classes having different Distribution Dates, all proceeds of the related Qualified Loans for the Class or Classes as to which such Distribution Date is not a Distribution Date.