Effect of Servicing Advances on Stated Principal Balance. Any Servicing Advance will not, for the purpose of calculating monthly distributions to Holders, be added to the Stated Principal Balance of the related Mortgage Loan, even though the terms of the Mortgage Loan may permit increases to the outstanding principal balance of the Mortgage Loan as a result of certain defaulted payments and may permit the Master Servicer or Direct Servicer, as applicable, to pursue recovery of those amounts from the Borrower. This Subsection 5.2(2) does not reduce the Borrower’s obligation under the Mortgage Documents.
Appears in 7 contracts
Samples: Master Trust Agreement, Federal National Mortgage Association, Federal National Mortgage Association
Effect of Servicing Advances on Stated Principal Balance. Any Servicing Advance will not, for the purpose of calculating monthly distributions to Holders, be added to the Stated Principal Balance of the related Mortgage Loan, even though the terms of the Mortgage Loan may permit increases to the outstanding principal balance of the Mortgage Loan as a result of certain defaulted payments and may permit the Master Servicer or Direct Primary Servicer, as applicable, to pursue recovery of those amounts from the Borrower. This Subsection 5.2(2) does not reduce the Borrower’s obligation under the Mortgage Documents.Documents.
Appears in 3 contracts
Samples: Multifamily Master Trust Agreement, Multifamily Master Trust Agreement, Trust Agreement
Effect of Servicing Advances on Stated Principal Balance. Any Servicing Advance will not, for the purpose of calculating monthly distributions to Holders, be added to the Stated Principal Balance of the related Mortgage Loan, even though the terms of the Mortgage Loan may permit increases to the outstanding principal balance of the Mortgage Loan as a result of certain defaulted payments and may permit the Master Servicer or Direct Primary Servicer, as applicable, to pursue recovery of those amounts from the Borrower. This Subsection 5.2(2) does not reduce the Borrower’s obligation under the Mortgage Documents.
Appears in 1 contract
Effect of Servicing Advances on Stated Principal Balance. Any Servicing Advance will not, for the purpose of calculating monthly distributions to Holders, be added added to the Stated Principal Balance of the related Mortgage Loan, even though the terms of the Mortgage Loan may permit increases to the outstanding principal balance of the Mortgage Loan as a result of certain defaulted payments and may permit the Master Servicer or Direct Primary Servicer, as applicable, to pursue recovery of those amounts from the Borrower. This Subsection 5.2(2) does not reduce the Borrower’s obligation under the Mortgage Documents.
Appears in 1 contract
Samples: Multifamily Master Trust Agreement
