Custodial Funds and Advances Sample Clauses

Custodial Funds and Advances. Within [***] Business Days after each Transfer Date, all related Custodial Funds and all other funds and collections in connection with the Mortgage Loans held by or on behalf of the Seller or, to the extent permitted under Applicable Requirements, previously used by or on behalf of the Seller (or any Prior Servicer) to make Advances with respect to the Mortgage Loans and not previously reimbursed shall be remitted and delivered by the Seller to the Subservicer in compliance with all Applicable Requirements and the Servicing Transfer Instructions. For the avoidance of doubt, prior to transferring the Custodial Funds, the Seller shall fully fund the Custodial Account to take into account all prepaid principal, including prepayments in full and curtailments, and interest received with respect to the Mortgage Loans to the extent such funds were previously used to make Advances and not reimbursed. In no event shall the Seller net or deduct any Advances from Custodial Funds when transferring funds to the Subservicer. The Seller shall furnish the Purchaser and the Subservicer with a schedule of all Custodial Funds and other amounts remitted to the Subservicer and shall reconcile such amounts in accordance with the Servicing Transfer Instructions and Applicable Requirements. The Seller shall furnish the Purchaser with a schedule of all unreimbursed Advances made by the Seller, including Advances previously made from prepaid principal, including prepayments in full and curtailments, and interest received with respect to the Mortgage Loans, in the Custodial Account, as of the related Transfer Date pursuant to the terms of Section 6.02(f).To the extent that any Advances are outstanding with respect to each Mortgage Loan as of the related Transfer Date (other than Advances funded from the Custodial Account from prepaid principal, including prepayments in full and curtailments, and interest received with respect to the Mortgage Loans, and not reimbursed to such Custodial Account), the Purchaser shall purchase such Advances from the Seller at a price equal to the outstanding balance of such Advance and pay the Seller for such amounts within [***] Business Days after the date on which the Purchaser receives the report and related supporting documents for such Advances described in Section 6.02(f). To the extent the Seller subsequently recovers any Advances reimbursed by Purchaser, the Seller shall remit such recoveries to the Purchaser within [***] Business Days of rece...
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Custodial Funds and Advances 
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Related to Custodial Funds and Advances

  • LOANS, ADVANCES, INVESTMENTS Make any loans or advances to or investments in any person or entity, except any of the foregoing existing as of, and disclosed to Bank prior to, the date hereof.

  • Servicer Advances For each Settlement Period, if the Servicer determines that any Scheduled Payment (or portion thereof) that was due and payable pursuant to a Loan included in the Collateral during such Settlement Period was not received prior to the end of such Settlement Period, the Servicer may, but shall not be obligated to, make an advance in an amount up to the amount of such delinquent Scheduled Payment (or portion thereof) to the extent that the Servicer reasonably expects to be reimbursed for such advance; in addition, if on any day there are not sufficient funds on deposit in the Collection Account to pay accrued Interest on any Advance the Settlement Period of which ends on such day, the Servicer may make an advance in the amount necessary to pay such Interest (in either case, any such advance, a “Servicer Advance”). Notwithstanding the preceding sentence, any Successor Servicer will not be obligated to make any Servicer Advances. The Servicer will deposit any Servicer Advances into the Collection Account on or prior to 11:00 a.m. (New York City time) on the related Payment Date, in immediately available funds.

  • Loans, Advances, Investments, Etc Make or commit or agree to make, or permit any of its Subsidiaries make or commit or agree to make, any Investment in any other Person except for Permitted Investments.

  • Remittances; P&I Advances (a) On the Master Servicer Remittance Date immediately preceding each Distribution Date, the Master Servicer shall:

  • Making Advances To refrain from making any advances under this Agreement but Lessor may make advances after the happening of any such event without thereby waiving the right to refrain from making other further advances or to exercise any of the other rights Lessor may have.

  • Disbursement of Loan Proceeds (a) The State shall disburse Federal Funds earmarked for the Loan to the Borrower in accordance with the terms hereof. Before each and every disbursement of the proceeds of the Loan by the State to the Borrower, the Borrower shall in accordance with the procedures set forth in the Regulations submit to the State a requisition executed by an Authorized Officer of the Borrower.

  • Disbursement of Loans Not later than 1:00 p.m. (Chicago time) on the date of any requested advance of a new Borrowing, subject to Section 7 hereof, each Lender shall make available its Loan comprising part of such Borrowing in funds immediately available at the principal office of the Administrative Agent in Chicago, Illinois (or at such other location as the Administrative Agent shall designate). The Administrative Agent shall make the proceeds of each new Borrowing available to the Borrower on the date of such Borrowing as instructed by the Borrower.

  • Loans and Advances The Company does not have any outstanding loans or advances to any person and is not obligated to make any such loans or advances, except, in each case, for advances to employees of the Company in respect of reimbursable business expenses anticipated to be incurred by them in connection with their performance of services for the Company.

  • Loans, Advances and Investments Make or permit to remain outstanding any loan or advance to, or own, purchase or acquire any stock, obligations or securities of, or any other interest in, or make any capital contribution to, any Person, or consummate any Acquisition, except that the Company or any Subsidiary may

  • DISTRIBUTIONS AND SERVICING ADVANCES Section 4.01

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