Withdrawals from the Reserve Account. (a) In the event that the Servicer's Certificate with respect to any Determination Date shall state that the amount of Available Funds with respect to such Determination Date is less than the sum of the amounts payable on the related Distribution Date pursuant to clauses (i) through (vii) of Section 4.6, then on the Draw Date immediately preceding such Distribution Date, the Indenture Trustee, in accordance with written instructions, shall (i) withdraw amounts on deposit in the Reserve Account, other than any funds in the Class A-1 Holdback Subaccount (up to the amount by which the amounts payable on the related Distribution Date pursuant to clauses (i) through (vii) of Section 4.6 exceed the amount of Available Funds with respect to such Determination Date) and (ii) deposit the amounts so withdrawn from the Reserve Account into the Collection Account. On each Distribution Date, any funds on deposit in the Reserve Account (other than funds on deposit in the Class A-1 Holdback Subaccount) in excess of the Requisite Reserve Amount (after giving effect to any withdrawals on the immediately preceding Draw Date as described above) shall be paid to the Depositor.
Withdrawals from the Reserve Account. Withdrawals for any Class of Notes will be made from the Reserve Account as specified below:
Withdrawals from the Reserve Account. On any Business Day, Purchaser may direct the Bank to apply funds in the Reserve Account, if any, to the payment of indemnity payments payable to a Purchaser Indemnitee pursuant to Section 11.01. In addition, if on any Distribution Date, Purchaser does not receive the Sold Percentage of the Total Servicing Spread as provided in Section 4.01, Purchaser may direct the Bank to remit to Purchaser the amount of the shortfall to the extent of funds then on deposit in the Reserve Account. If on any Distribution Date the amount on deposit in the Reserve Account exceeds the Required Reserve Amount for such date (after any other withdrawals therefrom on such date), Purchaser shall direct the Bank to disburse such excess to Seller. Upon termination of this Agreement, after all amounts due to Purchaser shall have been paid, Purchaser shall direct the Bank to distribute any amounts remaining in the Reserve Account to or upon the order of Seller.
Withdrawals from the Reserve Account. If Available Funds are not sufficient to pay (i) on each Payment Date prior to the Rated Final Maturity Date, those amounts described in provisions FIRST through EIGHTH of subsection 3.1(a) plus the Principal Distribution Amount for such Payment Date or (ii) on the Rated Final Maturity Date, those amounts described in provisions FIRST through EIGHTH and all unpaid Principal Amounts on the Notes, the Trustee, at the direction of the Servicer, shall withdraw from the Reserve Account the lesser of the amounts sufficient to make such payments and the balance in the Reserve Account (the “Reserve Account Draw Amount”). On the Rated Final Maturity Date, the Noteholders will be entitled to the Reserve Account Draw Amount for such date, if any, to the extent of any unpaid balance of the Notes.
Withdrawals from the Reserve Account. If Available Funds are insufficient to pay (i) on each Payment Date prior to the Final Maturity Date, all amounts required to be distributed pursuant to provisions FIRST through FIFTH of subsection 3.1(a), plus the Principal Distribution Amount for such Payment Date or (ii) on the Final Maturity Date, all amounts required to be distributed pursuant to provisions FIRST through FIFTH of subsection 3.1(a), plus the unpaid Principal Amount on the Notes, the Trustee, at the direction of the Servicer, shall withdraw from the Reserve Account the lesser of the amounts sufficient to make such payments and the balance in the Reserve Account (the “Reserve Account Draw Amount”); provided that on each Payment Date prior to the Final Maturity Date, the amount withdrawn by the Trustee cannot cause the balance in the Reserve Account to be less than the Reserve Account Floor Amount unless Available Funds on such Payment Date are not sufficient to pay all amounts required to be distributed on such Payment Date pursuant to provisions FIRST through FIFTH of subsection 3.1(a).
Withdrawals from the Reserve Account. The Trustee shall have the sole and exclusive right to withdraw or order a transfer of funds from the Reserve Account, in all events in accordance with the terms and provisions of this Section 4.6; provided, that the Trustee shall be authorized to transfer funds from the Reserve Account to the Collection Account at the direction of the Servicer as provided in subsection (b) and (c) above.
Withdrawals from the Reserve Account. Total Withdrawals from the Reserve Account transferred to the Finance Charge Account on the Related Transfer Date (4.A.(d) plus 4.B. above) N/A
Withdrawals from the Reserve Account. On any Business Day, at the instruction of Purchaser, Seller shall direct the Bank to apply funds in the Reserve Account, if any, to the payment of indemnity payments payable to a Purchaser Indemnitee pursuant to Section 10.01. If on any Business Day a Reserve Account Deposit Event is not then continuing and all outstanding indemnity payments payable to Purchaser Indemnitees have been paid in full, Seller may direct the Bank to distribute any remaining funds in the Reserve Account to, or as directed by, Seller. If there are any funds remaining in the Reserve Account after the Excess Servicing Spread and all indemnity payments payable to Purchaser Indemnities have been paid in full, Seller shall direct the Bank to distribute such remaining funds to, or as directed by, Seller.
Withdrawals from the Reserve Account. (1) On each day on which (A) the Indenture Trustee shall have been directed by the Initial Noteholder pursuant to instructions substantially in the form of Exhibit D hereto, which instructions shall be delivered by the Initial Noteholder by no later than 12:00 p.m. Noon New York City time on the Business Day following any day on which the Indenture Trustee and the Initial Noteholder shall have received, by 6:00 p.m. New York City time, a Loan Schedule and Exceptions Report, complete and in form and substance satisfactory to the Initial Noteholder, confirming that the Custodial Loan File has been received by the Custodian for the related Wet Funded Loan in accordance with Section 2.04 (provided, that if such Loan Schedule and Exceptions Report shall be received after 6:00 p.m. New York City time it shall be deemed to have been received by 6:00 p.m. New York City time on the following Business Day) or on which (B) the Indenture Trustee and the Initial Noteholder shall have confirmed receipt of the Purchase Price on account of such Wet Funded Loan in the Collection Account paid pursuant to Section 2.05(b), the Indenture Trustee shall distribute an amount equal to the Sales Price for such Wet Funded Loan to the applicable Loan Originator that conveyed such Wet Funded Loan, as the assignee of the Reserve Account Right.
Withdrawals from the Reserve Account. If on any Payment Date, the Available Funds are not sufficient to pay those amounts described in provisions FIRST through ELEVENTH of subsection 3.1(a), the Trustee, at the direction of the Servicer, shall withdraw an amount equal to the lesser of (i) the excess of those amounts described in provisions FIRST through ELEVENTH of subsection 3.1(a), over the Available Funds available to pay such amounts and (ii) the Reserve Account Amount and use such amount to pay amounts due but unpaid, in the order set forth in provisions FIRST through ELEVENTH of subsection 3.1(a).
