Collections and Disbursements of Advances by Servicer Sample Clauses

Collections and Disbursements of Advances by Servicer. (a) The Servicer shall deposit into the Collection and Funding Account all Advance Reimbursement Amounts in respect of all Advances other than Delinquency Advances collected by the Servicer with respect to any Designated Pool pursuant to a related Designated Servicing Agreement no later than two (2) Business Days after the Servicer’s receipt thereof and the Servicer shall deposit into the Collection and Funding Account immediately upon withdrawal from the related Principal and Interest Custodial Accounts all Advance Reimbursement Amounts other than Delinquency Advances and in the case of Delinquency Advances shall withdraw Pool collections from the related Principal and Interest Custodial Account to reimburse Delinquency Advances within two (2) Business Days after such Advance Reimbursement Amounts are deposited in the related Principal and Interest Custodial Account; provided that to the extent of Delinquency Advances that Xxxxxxx Mac reimburses by a credit as described in Section 3 of the Xxxxxxx Mac Consent (if any), the Advance Reimbursement Amount for such Delinquency Advances shall be deemed to have been reimbursed and immediately redeployed to make a new Delinquency Advance (“
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Collections and Disbursements of Advances by Servicer. (a) The Servicer shall deposit into the Collection and Funding Account all Advance Reimbursement Amounts in respect of Corporate and Escrow Advances collected by the Servicer with respect to any Designated Pool pursuant to a related Designated Servicing Agreement no later than two (2) Business Days after the Servicer’s receipt thereof and the Servicer shall deposit into the Collection and Funding Account immediately upon withdrawal from the related Principal and Interest Custodial Accounts all Advance Reimbursement Amounts other than Delinquency Advances and in the case of Delinquency Advances shall withdraw Pool collections from the related Principal and Interest Custodial Account to reimburse Delinquency Advances at least once per week. To the extent the Indenture Trustee receives for deposit Advance Reimbursement Amounts in the Collection and Funding Account later than 2:00 p.m. New York City time on a Business Day, such funds shall be deemed to have been received on the following Business Day.
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Collections and Disbursements of Advances by Servicer. (a) The Servicer shall deposit into the Collection and Funding Account all Advance Reimbursement Amounts in respect of Corporate Advances and Escrow Advances collected by the Servicer with respect to any Designated Pool pursuant to a related Designated Servicing Contract no later than two (2) Business Days after the Servicer’s receipt thereof and the Servicer shall deposit into the Collection and Funding Account immediately upon withdrawal from the related Principal and Interest Custodial Accounts all Advance Reimbursement Amounts other than Delinquency Advances and in the case of Delinquency Advances shall withdraw Pool collections from the related Principal and Interest Custodial Account to reimburse Delinquency Advances within two (2) Business Days after such Advance Reimbursement Amounts are deposited in the related Principal and Interest Custodial Accounts; provided that to the extent of Delinquency Advances that Xxxxxxx Mac reimburses by a credit as described in Section 3 of the Xxxxxxx Mac Consent, the Advance Reimbursement Amount for such Delinquency Advances shall be deemed to have been reimbursed and immediately redeployed to make a new Delinquency Advance (“Credited Advance Funding”) to the extent permitted pursuant to the Xxxxxxx Mac Consent, the Xxxxxxx Mac Guide and the Xxxxxxx Mac Purchase Documents. If the Revolving Period is not in effect for any Class of Note, the Servicer shall remit to the Collection and Funding Account the amount of any Credited Advance Funding within ten (10) Business Days of its knowledge of the amount of any such Credited Advance Funding. Any amounts remitted by the Servicer or any Subservicer to the Collection and Funding Account shall be deemed to constitute Advance Reimbursement Amounts in respect of the Delinquency Advance deemed to have been reimbursed in connection with such Credited Advance Funding. To the extent the Indenture Trustee receives for deposit Advance Reimbursement Amounts in the Collection and Funding Account later than 2:00 p.m. Eastern Time on a Business Day, such funds shall be deemed to have been received on the following Business Day. If Xxxxxx Xxx or Xxxxxxx Mac remits any payments directly to a Trust Account, the Servicer shall identify any amounts remitted that do not constitute Collateral. Upon any such identification, the Servicer shall promptly give the Indenture Trustee and the Administrative Agent written notice thereof and reasonable supporting documentation. Within two (2) Business...
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Collections and Disbursements of Advances by Servicer. (a) The Servicer shall deposit into the Collection and Funding Account all Advance Reimbursement Amounts in respect of Advances collected by the Servicer with respect to any Designated Pool pursuant to a related Designated Servicing Contract no later than two (2) Business Days after the Servicer’s receipt thereof. To the extent the Indenture Trustee receives for deposit Advance Reimbursement Amounts in the Collection and Funding Account later than 2:00 p.m. New York City time on a Business Day, such funds shall be deemed to have been received on the following Business Day. If Freddie Mac remits any payments directly to a Trust Account, the Servicer shall identify any amounts remitted that do not constitute Collateral. Upon any such identification, the Servicer shall promptly give the Indenture Trustee and the Administrative Agent written notice thereof and reasonable supporting documentation. Within two (2) Business Days, but as soon as reasonably practicable, of the Indenture Trustee’s receipt of written direction from the Servicer and written confirmation from the Administrative Agent, the Indenture Trustee shall withdraw such amounts that do not constitute Collateral and remit such amounts to such accounts as may be designated in writing by the Servicer to the Indenture Trustee.
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Collections and Disbursements of Advances by Servicer. (a) The Servicer shall cause each Securitization Trustee to remit all Collections to the Collection and Funding Account no later than 2:00 p.m. (New York City time) on the Business Day prior to each applicable Funding Date and to otherwise comply with its obligations regarding Collections.
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Collections and Disbursements of Advances by Servicer 
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Related to Collections and Disbursements of Advances by Servicer

  • Disbursement of Advances (a) Upon receiving any Request for Revolving Credit Advance from Borrower under Section 2.3 hereof, Agent shall promptly notify each Revolving Credit Lender by wire, telex or telephone (confirmed by wire, telecopy or telex) of the amount of such Advance being requested and the date such Revolving Credit Advance is to be made by each Revolving Credit Lender in an amount equal to its Revolving Credit Percentage of such Advance. Unless such Revolving Credit Lender’s commitment to make Revolving Credit Advances hereunder shall have been suspended or terminated in accordance with this Agreement, each such Revolving Credit Lender shall make available the amount of its Revolving Credit Percentage of each Revolving Credit Advance in immediately available funds to Agent, as follows:

  • Prepayments of Advances (a) Any Borrower may, upon at least two (2) Business Days’ notice to the Agent stating (i) the proposed date and aggregate principal amount of the prepayment and (ii) the Advances (which shall be part of the same Borrowing) to which such prepayment is to be applied, and if such notice is given such Borrower shall, prepay the outstanding principal amounts of the Advances comprising part of the same Borrowing in whole or ratably in part, together with accrued interest to the date of such prepayment on the principal amount prepaid; provided, however, that (x) each partial prepayment shall be in an aggregate principal Dollar Amount of not less than $10,000,000 and in an integral Dollar Amount multiple of $1,000,000 in excess thereof and (y) in the case of any such prepayment of a Eurocurrency Rate Advance or a TIBO Rate Advance, such Borrower shall be obligated to reimburse the applicable Banks in respect thereof pursuant to Section 8.04(b).

  • Advances; Reimbursement of Advances (a) From time to time, (i) pursuant to terms of the Servicing Agreement, the Lead Servicer and/or the related Trustee may be obligated to make (1) Property Advances with respect to the Mortgage Loan or the Mortgaged Property and (2) P&I Advances with respect to the Lead Note and (ii) pursuant to the terms of a Non-Lead Servicing Agreement, the related Non-Lead Master Servicer and/or the related Trustee may be obligated to make P&I Advances with respect to a Non-Lead Note. The Lead Servicer and/or the related Trustee will not be required to make any P&I Advance with respect to any Non-Lead Note and the related Non-Lead Master Servicer and/or the related Trustee will not be required to make any P&I Advance with respect to any Lead Note, any other Non-Lead Note or any Property Advance. The Lead Servicer, each Non-Lead Master Servicer and any Trustee will be entitled to interest on any Advance made in the manner and from the sources provided in the Note A-1 PSA or the Note A-2 PSA, as applicable.

  • Additional Advances and Disbursements; Costs of Enforcement If any Event of Default exists, Mortgagee and each of the Lenders shall have the right, but not the obligation, to cure such Event of Default in the name and on behalf of Mortgagor in accordance with the Credit Agreement. All sums advanced and expenses incurred at any time by Mortgagee or any Lender under this Section, or otherwise under this Mortgage or any of the other Credit Documents or applicable law, shall bear interest from the date that such sum is advanced or expense incurred if not repaid within five (5) days after demand therefor, to and including the date of reimbursement, computed at the rate or rates at which interest is then computed on the Indebtedness, and all such sums, together with interest thereon, shall be secured by this Mortgage. Mortgagor shall pay all expenses (including reasonable attorneys’ fees and expenses) of or incidental to the perfection and enforcement of this Mortgage and the other Credit Documents, or the enforcement, compromise or settlement of the Indebtedness or any claim under this Mortgage and the other Credit Documents, and for the curing thereof, or for defending or asserting the rights and claims of Mortgagee or the Lenders in respect thereof, by litigation or otherwise.

  • Advances by Servicer Except as otherwise provided herein, the Servicer shall be entitled to first priority reimbursement pursuant to Section 2.07 hereof for Servicing Advances from recoveries from the related Mortgagor or from all Liquidation Proceeds and other payments or recoveries (including Insurance Proceeds and Condemnation Proceeds) with respect to the related Mortgage Loan.

  • Monthly Advances by Servicer On the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution, or both, an amount equal to all Monthly Payments (in the case of Simple Interest Mortgage Loans, solely the portion of the Monthly Payment attributable to interest) which were due on the Mortgage Loans during the applicable Due Period and which were Delinquent at the close of business on the immediately preceding Determination Date. Any amounts held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account on or before any future Remittance Date if funds in the Custodial Account on such Remittance Date shall be less than remittances to the Master Servicer required to be made on such Remittance Date. The Servicer shall keep appropriate records of such amounts and will provide such records to the Master Servicer and the NIMS Insurer upon request. No provision in this Agreement shall be construed as limiting the Servicer’s right to (i) pass through late collections on the related Mortgage Loans in lieu of making Monthly Advances or (ii) reimburse itself for such Monthly Advances from late collections on the related Mortgage Loans. The Servicer’s obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including Insurance Proceeds and Condemnation Proceeds) with respect to the related Mortgage Loan unless the Servicer deems such Monthly Advance to be non-recoverable, as evidenced by an Officer’s Certificate of the Servicer delivered to the Master Servicer.

  • Advances by Master Servicer If any Servicer fails to remit any Advance required to be made under the applicable Servicing Agreement, the Master Servicer shall itself make, or shall cause the successor Servicer to make, such Advance. If the Master Servicer determines that an Advance is required, it shall on the Business Day preceding the related Distribution Date immediately following such Determination Date remit to the Securities Administrator from its own funds (or funds advanced by the applicable Servicer) for deposit in the Account immediately available funds in an amount equal to such Advance. The Master Servicer and each Servicer shall be entitled to be reimbursed for all Advances made by it. Notwithstanding anything to the contrary herein, in the event the Master Servicer determines in its reasonable judgment that an Advance is non-recoverable, the Master Servicer shall be under no obligation to make such Advance. If the Master Servicer determines that an Advance is non-recoverable, it shall, on or prior to the related Distribution Date, deliver an Officer's Certificate to the Trustee to such effect.

  • Prepayment of Advances No Borrower shall have the right to prepay any principal amount of any Advances other than as provided in this Section 2.07.

  • Disbursement of Advance Subject to the provisions of this Agreement, the Agent shall on each Drawdown Date pay to the Borrower the amounts which the Agent receives from the Lenders under Clause 4.5; and that payment to the Borrower shall be made:

  • Repayment of Advances If the identity of the Servicer shall change, the predecessor Servicer shall be entitled to receive reimbursement for outstanding and unreimbursed Simple Interest Advances made pursuant to Section 4.4 by the predecessor Servicer.

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