Common use of Master Servicer Advances Clause in Contracts

Master Servicer Advances. Subject to the conditions of this Article IV, the Master Servicer, as required below, shall make a Master Servicer Advance to the Trustee for deposit in the Distribution Account. Each such Master Servicer Advance shall be remitted to the Distribution Account no later than the close of business on the Business Day immediately preceding the related Distribution Date (the "Master Servicer Advance Date") in immediately available funds. The Master Servicer shall be obligated to make any such Master Servicer Advance only to the extent that (i) the applicable Servicer has not made its required Servicer Advance and (ii) such proposed Master Servicer Advance would not be a Non-recoverable Advance. If the Master Servicer shall have determined that it has made a Non-recoverable Advance or that a proposed Master Servicer Advance or a portion of such proposed Master Servicer Advance would constitute a Non-recoverable Advance, the Master Servicer shall deliver (i) to the Trustee for the benefit of the Certificateholders funds constituting the remaining portion of such proposed Master Servicer Advance, and (ii) to the Depositor, each Rating Agency and the Trustee, an Officer's Certificate setting forth the basis for such determination. In lieu of making all or a portion of such Master Servicer Advance from its own funds, the Master Servicer may (i) cause to be made an appropriate entry in its records relating to the Certificate Account that any amount held therein and not required for distribution on the immediately succeeding Distribution Date has been used by the Master Servicer in discharge of its obligation to make any such Master Servicer Advance and (ii) transfer such funds from the Certificate Account to the Distribution Account. Any funds so applied and transferred shall be replaced by the Master Servicer by deposit in the Certificate Account no later than the close of business on the Business Day immediately preceding the Distribution Date on which such funds are required to be distributed pursuant to this Agreement. The Master Servicer shall be entitled to be reimbursed from the Certificate Account for all Master Servicer Advances of its own funds made pursuant to this Section as provided in Section 3.10. The obligation to make Master Servicer Advances with respect to any Mortgage Loan shall continue until such Mortgage Loan is paid in full or purchased from the Trust Fund pursuant to any applicable provision of this Agreement or the related Mortgaged Property has been liquidated, except as otherwise provided in this Section 4.02.

Master Servicer Advances. Subject (a) To the extent that as of the Determination Date for any month, the full amount of the Monthly Payment due in such month with respect to the conditions of this Article IV, any Mortgage Loan other than a Specially Serviced Mortgage Loan has not been received by the Master Servicer, as the Master Servicer shall remit to the Trustee on the Master Remittance Date, for deposit into the Certificate Account, a P&I Advance in an amount equal to the excess of such Monthly Payment net of any Escrow Payment component and net of an amount corresponding to the related Servicing Fee over the amount received; provided, however, that the Master Servicer shall not be required below, shall to make a Nonrecoverable Advance and, provided further, that the Master Servicer shall not be required to make more than two consecutive P&I Advances which have not been reimbursed for any Mortgage Loan and the Master Servicer shall not be required to make a P&I Advance with respect to a Balloon Payment. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the amount that would be due on such day based on the full amortization schedule used to calculate the Monthly Payments thereon prior to the Maturity Date. If the Master Servicer determines that a P&I Advance is required, it shall on such Master Remittance Date remit to the Trustee for deposit in the Distribution Account. Each Certificate Account out of its own funds an amount equal to the P&I Advance; provided, however, that the aggregate amount of such Master Servicer Advance P&I Advances for any Determination Date shall be remitted reduced by any amounts being held for future remittance to the Distribution Account no later than the close of business on the Business Day immediately preceding the related Distribution Date (the "Master Servicer Advance Date") in immediately available funds. The Master Servicer shall be obligated to make any such Master Servicer Advance only to the extent that (i) the applicable Servicer has not made its required Servicer Advance and (ii) such proposed Master Servicer Advance would not be a Non-recoverable Advance. If the Master Servicer shall have determined that it has made a Non-recoverable Advance or that a proposed Master Servicer Advance or a portion of such proposed Master Servicer Advance would constitute a Non-recoverable Advance, the Master Servicer shall deliver (ipursuant to Section 4.04(a)(1)(ii) before deduction for reductions in P&I Advances pursuant to the Trustee for the benefit of the Certificateholders funds constituting the remaining portion of such proposed Master Servicer Advance, and (ii) to the Depositor, each Rating Agency and the Trustee, an Officer's Certificate setting forth the basis for such determination. In lieu of making all or a portion of such Master Servicer Advance from its own funds, the Master Servicer may (i) cause to be made an appropriate entry in its records relating to the Certificate Account that any amount held therein and not required for distribution on the immediately succeeding Distribution Date has been used by the Master Servicer in discharge of its obligation to make any such Master Servicer Advance and (ii) transfer such funds from the Certificate Account to the Distribution Accountthis Section 4.05. Any funds being held in the Collection Account for future distribution and so applied and transferred used shall be replaced by the Master Servicer from its own funds (or from receipts on Mortgage Loans against which such P&I Advance was made) by deposit in such Collection Account on or before any future Master Remittance Date to the Certificate extent that funds in such Collection Account no later on such Master Remittance Date shall be less than payments to the close of business on the Business Day immediately preceding the Distribution Date on which such funds are Trustee required to be distributed pursuant to this Agreementmade on such date. The If the Master Servicer shall be entitled to be reimbursed from the Certificate Account for all Master Servicer Advances of its own funds made pursuant to this Section as provided in Section 3.10. The obligation to make Master Servicer Advances determines with respect to any Mortgage Loan that a P&I Advance, if made, would constitute a Nonrecoverable Advance or that it has made a Nonrecoverable Advance, it shall continue until such Mortgage Loan is paid in full or purchased from deliver to the Trust Fund Trustee a Nonrecoverable Advance Certificate. If the Special Servicer fails to make the required Advance pursuant to any applicable provision of this Agreement or Section 6.10, then the related Mortgaged Property has been liquidated, except as otherwise provided in this Master Servicer shall be required to make such Advance pursuant to Section 4.027.04.

Master Servicer Advances. Subject (a) To the extent that as of the Determination Date for any month, the full amount of the Monthly Payment due in the related Collection Period with respect to the conditions of this Article IV, any Mortgage Loan has not been received by the Master Servicer, as required below, shall make a the Master Servicer Advance to the Trustee for deposit in the Distribution Account. Each such Master Servicer Advance shall be remitted to the Distribution Account shall, no later than the close of business 3:00 P.M. New York City time on the Business Day immediately preceding related Remittance Date, deposit into the Collection Account, a P&I Advance out of its own funds or out of funds held in the Collection Account that are not required to be part of the Available Payment Amount for the related Distribution Payment Date in an amount equal to the excess of all Monthly Payments (net of the "Master Servicer Advance Date"Fee) in immediately available funds. The due during the related Collection Period over the amount actually received during such Collection Period; provided, however, that notwithstanding anything herein to the contrary, the Master Servicer shall not be obligated required to make any such Master Servicer Advance only to the extent that (i) the applicable Servicer has not made its required Servicer Advance and (ii) such proposed Master Servicer Advance would not be a Non-recoverable Nonrecoverable Advance. If the Master Servicer shall have determined determines with respect to any Mortgage Loan that a P&I Advance, if made, would constitute a Nonrecoverable Advance or that it has made a Non-recoverable Nonrecoverable Advance, it shall deliver to the Indenture Trustee a Nonrecoverable Advance or that a proposed Certificate. The Master Servicer shall not be required to make a P&I Advance with respect to late charges, default interest, or the full amount of a portion Balloon Payment not made by the related Mortgagor. For purposes of the immediately preceding sentence, the Monthly Payment due on the Loan Maturity Date for a Balloon Mortgage Loan will be the amount that would be due on such proposed Master Servicer day based on the full amortization schedule used to calculate the prior Monthly Payments, assuming a later Loan Maturity Date. Notwithstanding the foregoing, the amount of any P&I Advance would constitute a Non-recoverable Advance, required to be advanced by the Master Servicer shall deliver with respect to any Payment Date in respect of applicable Monthly Payments on Mortgage Loans that have been subject to an Appraisal Reduction Event will equal (i) the amount required to be advanced by the Trustee for the benefit of the Certificateholders funds constituting the remaining portion of such proposed Master Servicer Advance, and without giving effect to such Appraisal Reduction Amounts less (ii) an amount equal to the Depositor, each Rating Agency and product of (x) the Trustee, an Officer's Certificate setting forth the basis for such determination. In lieu of making all or a portion of such Master Servicer Advance from its own funds, the Master Servicer may (i) cause amount required to be made an appropriate entry in its records relating to the Certificate Account that any amount held therein and not required for distribution on the immediately succeeding Distribution Date has been used advanced by the Master Servicer in discharge respect to delinquent payments of its obligation interest without giving effect to make any such Master Servicer Advance Appraisal Reduction Amounts, and (iiy) transfer a fraction, the numerator of which is the Appraisal Reduction Amount with respect to such funds from Mortgage Loan and the Certificate Account to denominator of which is the Distribution Account. Any funds so applied and transferred shall be replaced by Stated Principal Balance of such Mortgage Loans of the Master Servicer by deposit in last day of the Certificate Account no later than the close of business on the Business Day immediately preceding the Distribution Date on which such funds are required to be distributed pursuant to this Agreementrelated Collection Period. The Master Servicer shall be entitled to be reimbursed from use any funds held in the Certificate Collection Account pursuant to Section 4.04(a)(ii) to make P&I Advances for the current Remittance Date. Any funds being held in the Collection Account for all future distribution and used by the Master Servicer Advances of to make a P&I Advance for the current Remittance Date shall be replaced by the Master Servicer from its own funds by deposit in the Collection Account on each future Remittance Date to the extent that funds in the Collection Account on such Remittance Date shall be less than remittances to the Indenture Trustee required to be made pursuant to this Section as provided in Section 3.10. The obligation to make Master Servicer Advances with respect to any Mortgage Loan shall continue until on such Mortgage Loan is paid in full or purchased from the Trust Fund pursuant to any applicable provision of this Agreement or the related Mortgaged Property has been liquidated, except as otherwise provided in this Section 4.02date.

Master Servicer Advances. Subject (a) To the extent that as of the Determination Date for any month, the full amount of the Monthly Payment due in such month with respect to the conditions of this Article IV, any Mortgage Loan has not been received by the Master Servicer, as required below, shall make a the Master Servicer Advance to the Trustee for deposit in the Distribution Account. Each such Master Servicer Advance shall be remitted to the Distribution Account no later than the close of business shall, on the Business Day immediately preceding related Remittance Date, deposit into the related Distribution Date Collection Account, an advance (the a "Master Servicer Advance DateP&I Advance") in immediately available funds. The an amount equal to the excess of such Monthly Payment over the amount received; provided, however, that notwithstanding anything herein to the contrary, the Master Servicer shall not be obligated required to make any such a Nonrecoverable Advance and the Master Servicer Advance only to the extent that (i) the applicable Servicer has not made its required Servicer Advance and (ii) such proposed Master Servicer Advance would shall not be required to make a Non-recoverable AdvanceP&I Advance with respect to a Balloon Payment. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the amount that would be due on such day based on the full amortization schedule used to calculate the prior Monthly Payments assuming a later Maturity Date. If the Master Servicer shall have determined that it has made a Non-recoverable Advance or determines that a proposed Master Servicer P&I Advance is required, it shall on or a portion prior to such Remittance Date deposit in the Collection Account out of its own funds an amount equal to the P&I Advance; provided, however, that the aggregate amount of such proposed Master Servicer Advance would constitute a Non-recoverable Advance, P&I Advances for any Remittance Date shall be reduced by any amounts being held for future remittance to the Master Servicer shall deliver (i) pursuant to the Trustee for the benefit of the Certificateholders funds constituting the remaining portion of such proposed Master Servicer Advance, and (ii) to the Depositor, each Rating Agency and the Trustee, an Officer's Certificate setting forth the basis for such determination. In lieu of making all or a portion of such Master Servicer Advance from its own funds, the Master Servicer may (i) cause to be made an appropriate entry in its records relating to the Certificate Account that any amount held therein and not required for distribution on the immediately succeeding Distribution Date has been used by the Master Servicer in discharge of its obligation to make any such Master Servicer Advance and (ii) transfer such funds from the Certificate Account to the Distribution AccountSection 4.04(a)(1)(ii). Any funds being held in the Collection Account for future distribution and so applied and transferred used shall be replaced by the Master Servicer from its own funds by deposit in the Certificate Collection Account no later on each future Remittance Date to the extent that funds in the Collection Account on such Remittance Date shall be less than payments to the close of business on the Business Day immediately preceding the Distribution Date on which such funds are Master Servicer required to be distributed pursuant to this Agreementmade on such date. The If the Master Servicer shall be entitled to be reimbursed from the Certificate Account for all Master Servicer Advances of its own funds made pursuant to this Section as provided in Section 3.10. The obligation to make Master Servicer Advances determines with respect to any Mortgage Loan that a P&I Advance, if made, would constitute a Nonrecoverable Advance or that it has made a Nonrecoverable Advance, it shall continue until such Mortgage Loan is paid in full or purchased from deliver to the Trust Fund pursuant to any applicable provision of this Agreement or the related Mortgaged Property has been liquidated, except as otherwise provided in this Section 4.02Trustee a Nonrecoverable Advance Bond.

Master Servicer Advances. Subject (a) To the extent that as of the Determination Date for any month, the full amount of the Monthly Payment due in such month with respect to the conditions of this Article IV, any Mortgage Loan has not been received by the Master Servicer, as the Master Servicer shall remit to the Trustee on the Master Remittance Date, for deposit into the Certificate Account, a P&I Advance in an amount equal to the excess of such Monthly Payment net of any Escrow Payment component and net of an amount corresponding to the Master Servicing Fee over the amount received; provided, however, that the Master Servicer shall not be required below, shall to make a Nonrecoverable Advance or make an advance for default interest or Excess Interest and, provided further, that the Master Servicer shall not be required to make a P&I Advance with respect to a Balloon Payment and, provided further, that if a Collateral Value Adjustment exists with respect to any Mortgage Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related Collateral Value Adjustment, if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the amount that would be due on such day based on the full amortization schedule used to calculate the Monthly Payments thereon prior to the Maturity Date. If the Master Servicer determines that a P&I Advance is required, it shall on such Master Remittance Date remit to the Trustee for deposit in the Distribution Account. Each Certificate Account out of its own funds an amount equal to the P&I Advance; provided, however, that the aggregate amount of such Master Servicer Advance P&I Advances for any Determination Date shall be remitted to the Distribution Account no later than the close of business on the Business Day immediately preceding the related Distribution Date (the "Master Servicer Advance Date") in immediately available funds. The Master Servicer shall be obligated to make reduced by any such Master Servicer Advance only to the extent that (i) the applicable Servicer has not made its required Servicer Advance and (ii) such proposed Master Servicer Advance would not be a Non-recoverable Advance. If the Master Servicer shall have determined that it has made a Non-recoverable Advance or that a proposed Master Servicer Advance or a portion of such proposed Master Servicer Advance would constitute a Non-recoverable Advance, the Master Servicer shall deliver (i) to the Trustee amounts being held for the benefit of the Certificateholders funds constituting the remaining portion of such proposed Master Servicer Advance, and (ii) to the Depositor, each Rating Agency and the Trustee, an Officer's Certificate setting forth the basis for such determination. In lieu of making all or a portion of such Master Servicer Advance from its own funds, the Master Servicer may (i) cause to be made an appropriate entry in its records relating to the Certificate Account that any amount held therein and not required for distribution on the immediately succeeding Distribution Date has been used future remittance by the Master Servicer pursuant to Section 4.04(a)(1)(ii) before deduction for reductions in discharge of its obligation P&I Advances pursuant to make any such Master Servicer Advance and (ii) transfer such funds from the Certificate Account to the Distribution Accountthis Section 4.05. Any funds being held in the Collection Account for future distribution and so applied and transferred used shall be replaced by the Master Servicer from its own funds as a P&I Advance (or from receipts on Mortgage Loans against which such P&I Advance was made) by deposit in such Collection Account on or before any future Master Remittance Date to the Certificate extent that funds in such Collection Account no later on such Master Remittance Date shall be less than payments to the close of business on the Business Day immediately preceding the Distribution Date on which such funds are Trustee required to be distributed pursuant to this Agreementmade on such date. The If the Master Servicer shall be entitled to be reimbursed from the Certificate Account for all Master Servicer Advances of its own funds made pursuant to this Section as provided in Section 3.10. The obligation to make Master Servicer Advances determines with respect to any Mortgage Loan that a P&I Advance, if made, would constitute a Nonrecoverable Advance or that it has made a Nonrecoverable Advance, it shall continue until such Mortgage Loan is paid in full or purchased from deliver to the Trust Fund pursuant to any applicable provision of this Agreement or the related Mortgaged Property has been liquidated, except as otherwise provided in this Section 4.02Trustee a Nonrecoverable Advance Certificate.

Master Servicer Advances. Subject (a) To the extent that as of the Determination Date for any month, the full amount of the Monthly Payment due in such month with respect to the conditions of this Article IV, any Mortgage Loan has not been received by the Master Servicer, as the Master Servicer shall remit to the Trustee on the Master Remittance Date, for deposit into the Certificate Account, a P&I Advance in an amount equal to the excess of such Monthly Payment net of an amount corresponding to the Master Servicing Fee over the amount received; provided, however, that the Master Servicer shall not be required below, shall to make a Nonrecoverable Advance or make an advance for Default Interest or Excess Interest and, provided further, that the Master Servicer shall not be required to make a P&I Advance with respect to a Balloon Payment and, provided further, that if a Collateral Value Adjustment exists with respect to any Mortgage Loan, then, in the event of subsequent delinquencies thereon, the interest portion of the P&I Advance in respect of such Mortgage Loan for the related Distribution Date shall be reduced (it being herein acknowledged that there shall be no reduction in the principal portion of such P&I Advance) to equal the product of (i) the amount of the interest portion of such P&I Advance for such Mortgage Loan for such Distribution Date without regard to this proviso, multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date, net of the related Collateral Value Adjustment, if any, and the denominator of which is equal to the Stated Principal Balance of such Mortgage Loan immediately prior to such Distribution Date. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the amount that would be due on such day based on the full amortization schedule used to calculate the Monthly Payments thereon prior to the Maturity Date. If the Master Servicer determines that a P&I Advance is required, it shall on such Master Remittance Date remit to the Trustee for deposit in the Distribution Account. Each Certificate Account out of its own funds an amount equal to the P&I Advance; provided, however, that the aggregate amount of such Master Servicer Advance P&I Advances for any Determination Date shall be remitted to the Distribution Account no later than the close of business on the Business Day immediately preceding the related Distribution Date (the "Master Servicer Advance Date") in immediately available funds. The Master Servicer shall be obligated to make reduced by any such Master Servicer Advance only to the extent that (i) the applicable Servicer has not made its required Servicer Advance and (ii) such proposed Master Servicer Advance would not be a Non-recoverable Advance. If the Master Servicer shall have determined that it has made a Non-recoverable Advance or that a proposed Master Servicer Advance or a portion of such proposed Master Servicer Advance would constitute a Non-recoverable Advance, the Master Servicer shall deliver (i) to the Trustee amounts being held for the benefit of the Certificateholders funds constituting the remaining portion of such proposed Master Servicer Advance, and (ii) to the Depositor, each Rating Agency and the Trustee, an Officer's Certificate setting forth the basis for such determination. In lieu of making all or a portion of such Master Servicer Advance from its own funds, the Master Servicer may (i) cause to be made an appropriate entry in its records relating to the Certificate Account that any amount held therein and not required for distribution on the immediately succeeding Distribution Date has been used future remittance by the Master Servicer pursuant to Section 4.04(a)(1)(ii) before deduction for reductions in discharge of its obligation P&I Advances pursuant to make any such Master Servicer Advance and (ii) transfer such funds from the Certificate Account to the Distribution Accountthis Section 4.05. Any funds being held in the Collection Account for future distribution and so applied and transferred used shall be replaced by the Master Servicer from its own funds as a P&I Advance (or from receipts on Mortgage Loans against which such P&I Advance was made) by deposit in such Collection Account on or before any future Master Remittance Date to the Certificate extent that funds in such Collection Account no later on such Master Remittance Date shall be less than payments to the close of business on the Business Day immediately preceding the Distribution Date on which such funds are Trustee required to be distributed pursuant to this Agreementmade on such date. The If the Master Servicer shall be entitled to be reimbursed from the Certificate Account for all Master Servicer Advances of its own funds made pursuant to this Section as provided in Section 3.10. The obligation to make Master Servicer Advances determines with respect to any Mortgage Loan that a P&I Advance, if made, would constitute a Nonrecoverable Advance or that it has made a Nonrecoverable Advance, it shall continue until such Mortgage Loan is paid in full or purchased from deliver to the Trust Fund pursuant to any applicable provision of this Agreement or Directing Certificateholder and the related Mortgaged Property has been liquidatedTrustee a Nonrecoverable Advance Certificate, except as otherwise provided in this Section 4.02upon which the Trustee may conclusively rely.

Master Servicer Advances. Subject (a) To the extent that as of the Determination Date for any month, the full amount of the Monthly Payment due in such month with respect to the conditions of this Article IV, any Mortgage Loan other than a Specially Serviced Mortgage Loan has not been received by the Master Servicer, as the Master Servicer shall remit to the Trustee on the Master Remittance Date, for deposit into the Certificate Account, a P&I Advance in an amount equal to the excess of such Monthly Payment net of any Escrow Payment component and net of an amount corresponding to the related Servicing Fee over the amount received; provided, however, that the Master Servicer shall not be required below, shall to make a Nonrecoverable Advance and, provided further, that the Master Servicer shall not be required to make more than two consecutive P&I Advances which have not been reimbursed for any Mortgage Loan and the Master Servicer shall not be required to make a P&I Advance with respect to a Balloon Payment. For purposes of the immediately preceding sentence, the Monthly Payment due on the Maturity Date for a Balloon Mortgage Loan will be the amount that would be due on such day based on the full amortization schedule used to calculate the Monthly Payments thereon prior to the Maturity Date. If the Master Servicer determines that a P&I Advance is required, it shall on such Master Remittance Date remit to the Trustee for deposit in the Distribution Account. Each Certificate Account out of its own funds an amount equal to the P&I Advance; provided, however, that the aggregate amount of such Master Servicer Advance P&I Advances for any Determination Date shall be remitted reduced by any amounts being held for future remittance to the Distribution Account no later than the close of business on the Business Day immediately preceding the related Distribution Date (the "Master Servicer Advance Date") in immediately available funds. The Master Servicer shall be obligated to make any such Master Servicer Advance only to the extent that (i) the applicable Servicer has not made its required Servicer Advance and (ii) such proposed Master Servicer Advance would not be a Non-recoverable Advance. If the Master Servicer shall have determined that it has made a Non-recoverable Advance or that a proposed Master Servicer Advance or a portion of such proposed Master Servicer Advance would constitute a Non-recoverable Advance, the Master Servicer shall deliver (ipursuant to Section 4.04(a)(1)(ii) before deduction for reductions in P&I Advances pursuant to the Trustee for the benefit of the Certificateholders funds constituting the remaining portion of such proposed Master Servicer Advance, and (ii) to the Depositor, each Rating Agency and the Trustee, an Officer's Certificate setting forth the basis for such determination. In lieu of making all or a portion of such Master Servicer Advance from its own funds, the Master Servicer may (i) cause to be made an appropriate entry in its records relating to the Certificate Account that any amount held therein and not required for distribution on the immediately succeeding Distribution Date has been used by the Master Servicer in discharge of its obligation to make any such Master Servicer Advance and (ii) transfer such funds from the Certificate Account to the Distribution Accountthis Section 4.05. Any funds being held in the Collection Account for future distribution and so applied and transferred used shall be replaced by the Master Servicer from its own funds (or from receipts on Mortgage Loans against which such P&I Advance was made) by deposit in such Collection Account on or before any future Master Remittance Date to the Certificate extent that funds in such Collection Account no later on such Master Remittance Date shall be less than payments to the close of business on the Business Day immediately preceding the Distribution Date on which such funds are Trustee required to be distributed pursuant to this Agreementmade on such date. The If the Master Servicer shall be entitled to be reimbursed from the Certificate Account for all Master Servicer Advances of its own funds made pursuant to this Section as provided in Section 3.10. The obligation to make Master Servicer Advances determines with respect to any Mortgage Loan that a P&I Advance, if made, would constitute a Nonrecoverable Advance or that it has made a Nonrecoverable Advance, it shall continue until such Mortgage Loan is paid in full or purchased from deliver to the Trust Fund pursuant to any applicable provision of this Agreement or the related Mortgaged Property has been liquidated, except as otherwise provided in this Section 4.02Trustee a Nonrecoverable Advance Certificate.