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 deliver to the Trustee a Nonrecoverable Advance Certificate. If the Special Servicer fails to make the required Advance pursuant to Section 6.10, then the Master Servicer shall be required to make such Advance pursuant to Section 7.04. (b) The Master Servicer shall determine on each Business Day whether amounts are available in the Collection Account or Escrow Account to reimburse any Servicer for unreimbursed Advances made pursuant to this Agreement. Subject to Section 6.02(f), the Master Servicer shall withdraw all amounts necessary to make such reimbursement to the extent such withdrawals are permitted under Section 4.03(a) or Section 4.06(c), and shall reimburse the Trustee, itself and the Special Servicer, in that order, on each Business Day. (c) The Trustee, the Master Servicer and the Special Servicer shall be entitled to interest on any Advance made thereby with respect to a Mortgage Loan is paid in full or purchased Loan. Such interest shall accrue at the Advance Rate from the Trust Fund pursuant date on which such Advance was made to but not including any applicable provision of this Agreement or Business Day on which the related Mortgaged Property has been liquidated, except Person making such Advance is reimbursed for such Advance as otherwise provided in this Section 4.02Agreement.

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 made on such date. If the Master Servicer 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 deliver to the Trustee a Nonrecoverable Advance Certificate. (b) The Master Servicer shall determine on each Business Day whether amounts are available in the Collection Account or Escrow Account to reimburse any Servicer for unreimbursed Advances made pursuant to this Agreement. Subject to Section 6.02(f), the Master Servicer shall withdraw all amounts necessary to make such reimbursement to the extent such withdrawals are permitted under Section 4.03(a) or Section 4.06(c), and shall reimburse the Fiscal Agent, the Trustee, itself and the Special Servicer, in that order, on each Business Day. (c) The Fiscal Agent, the Trustee and the Master Servicer shall be entitled to be reimbursed interest on any Advance made with respect to a Mortgage Loan. Such interest shall accrue at the Advance Rate from the Certificate Account date on which such Advance was made to but not including any Business Day on which the Person making such Advance is reimbursed for all Master Servicer Advances of its own funds made pursuant to this Section such Advance 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 4.02Agreement.

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 Trustee required to be made on such date. If the Master Servicer 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 deliver to the Directing Certificateholder and the Trustee a Nonrecoverable Advance Certificate, upon which the Trustee may conclusively rely. (b) [RESERVED] (c) The Master Servicer, as requested by the Special Servicer with respect to any Specially Serviced Mortgage Loan, shall make Servicing Advances from its own funds to effect the timely payment of business on any Property Protection Expense or Property Improvement Expense upon five (5) Business Days notice; provided that the Business Day Special Servicer shall only request the Master Servicer to make Servicing Advances with respect to any Specially Serviced Mortgage Loan from its own funds to the extent there are not sufficient funds in the related REO Account (taking into account any necessary reserve amounts as to REO Loans) or the related Escrow Account available to cover any such expenses and as permitted under the Mortgage Loan Documents and the Master Servicer shall not be required to make a Nonrecoverable Advance. The Master Servicer shall be entitled to reimbursement for any unreimbursed Servicing Advance made pursuant to the immediately preceding sentence pursuant to this Agreement. (d) [RESERVED] (e) The Trustee, and subject to Section 4.05(c), the Distribution Date Master Servicer, shall be entitled to interest on any Advance made thereby with respect to a Mortgage Loan. Such interest shall accrue at the Advance Rate from the date on which such funds Advance was made to but not including any Business Day on which the Person making such Advance is reimbursed for such Advance as provided in this Agreement; provided, however, that neither the Master Servicer nor any other party shall be entitled to interest accrued on the amount of any P&I Advance with respect to any Mortgage Loan if the related Monthly Payment is received by the Master Servicer on or prior to the Master Remittance Date immediately following the Due Date for such Monthly Payment; provided, further, that neither the Master Servicer nor any other party shall be entitled to interest accrued on the amount of any P&I Advance with respect to any of Mortgage Loan Numbers 1, 50 or 116 (as identified on Exhibit G) made before the end of any such Mortgage Loan's related grace period. (f) [RESERVED] (g) The Master Servicer shall determine on each Business Day whether amounts are required available in the Collection Account or Escrow Account to be distributed reimburse the Trustee or itself for unreimbursed Advances made pursuant to this Agreement. The Master Servicer shall be entitled to be reimbursed from the Certificate Account for withdraw all Master Servicer Advances of its own funds made pursuant to this Section as provided in Section 3.10. The obligation amounts necessary to make Master Servicer Advances with respect such reimbursement to any Mortgage Loan the extent such withdrawals are permitted under Section 4.03(a) or Section 4.06(c), and shall continue until such Mortgage Loan is paid reimburse the Trustee and itself, in full or purchased from the Trust Fund pursuant to any applicable provision of this Agreement or the related Mortgaged Property has been liquidatedthat order, except as otherwise provided in this Section 4.02on each Business Day.

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 on such date. (b) To the extent required by Section 6.04 of this Servicing Agreement, the Master Servicer shall make Property Protection Advances from time to time; provided, however, that notwithstanding anything herein to the contrary, the Master Servicer shall not be required to make a Nonrecoverable Advance for which a Nonrecoverable Advance Certificate has been previously issued. (c) The Master Servicer shall determine whether amounts are available in the Collection Account or the escrow account to reimburse the Indenture Trustee, the Master Servicer or the Fiscal Agent for unreimbursed Advances made pursuant to this Servicing Agreement. The Master Servicer shall promptly (but in any event no later than ten (10) Business Days following receipt) withdraw all amounts necessary to make such reimbursement to the extent such withdrawals are permitted under Section 4.03(a), and shall reimburse the Indenture Trustee, itself or the Fiscal Agent, as provided applicable. (d) If the Master Servicer fails to make any P&I Advance required by Section 4.05 when required to do so, the Indenture Trustee shall, no later than the time specified in Section 3.107.02, make such Advance, and if the Indenture Trustee fails to make such P&I Advance when required to do so, the Fiscal Agent shall do so no later than the time specified in Section 7.02, provided that, in each such case such obligation will be subject to the provisions of this Servicing Agreement concerning Nonrecoverable Advances. The Indenture Trustee and the Fiscal Agent may rely conclusively on any determination by the Master Servicer and evidenced by a Nonrecoverable Advance Certificate that a P&I Advance would be a Nonrecoverable Advance. The making of such P&I Advance by the Fiscal Agent shall cure any default of the Indenture Trustee caused by the Indenture Trustee's failure to make such P&I Advance. (e) The Master Servicer, the Indenture Trustee or the Fiscal Agent, as applicable, shall be entitled to interest on any P&I Advance made with respect to a Mortgage Loan pursuant to this Section 4.05; provided, however, that neither the Master Servicer, the Indenture Trustee nor the Fiscal Agent shall be entitled to interest accrued on the amount of any P&I Advance with respect to the two (2) Mortgage Loans identified as loan numbers 3720011432 and 3720011427 on Mortgage Loan Schedule, for the period commencing on the date of such P&I Advance and ending on the day on which the grace period applicable to the related Mortgagor's obligation to make Master Servicer Advances with respect the related Monthly Payment expires pursuant to any the related Mortgage Loan Documents. Such interest shall continue until such Mortgage Loan is paid in full or purchased accrue at the Advance Rate from the Trust Fund date on which such P&I Advance was made to and including the date on which such Person is reimbursed for such P&I Advance pursuant to any applicable provision of this Agreement or the related Mortgaged Property has been liquidated, except as otherwise provided in this Section 4.02Servicing Agreement.

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 AccountCertificate Account out of its own funds an amount equal to the P&I Advance; provided, however, that the aggregate amount of such P&I Advances for any Determination Date shall be reduced by any amounts being held for future remittance by the Master Servicer pursuant to Section 4.04(a)(1)(ii) before deduction for reductions in P&I Advances pursuant to this Section 4.05. Each Any funds being held in the Collection Account for future distribution and so 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 extent that funds in such Collection Account on such Master Servicer Advance Remittance Date shall be remitted less than payments to the Distribution Account no later than Trustee required to be made on such date. If the close Master Servicer 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 deliver to the Trustee a Nonrecoverable Advance Certificate. (b) [RESERVED] (c) The Master Servicer, as requested by the Special Servicer, shall make Servicing Advances from its own funds to effect the timely payment of business on any Property Protection Expense or Property Improvement Expense upon five Business Days notice; provided that the Business Day immediately preceding Special Servicer shall only request the Master Servicer to make Servicing Advances with respect to any Mortgage Loan from its own funds to the extent there are not sufficient funds in the related Distribution Date REO Account (taking into account any necessary reserve amounts as to REO Loans) or the "related Escrow Account available to cover any such expenses and as permitted under the Mortgage Loan Documents and the Master Servicer Advance Date") in immediately available fundsshall not be required to make a Nonrecoverable Advance. The Master Servicer shall be obligated entitled to make reimbursement for any unreimbursed Servicing Advance made pursuant to the immediately preceding sentence pursuant to this Agreement. (d) Any P&I Advances required to be made by the Master Servicer hereunder with respect to the Canadian Loan shall be made in Canadian dollars and may be made by the Master Servicer or any subservicer. The amount of any P&I Advance with respect to the Canadian Loan for any Distribution Date shall be included in the report to the F/X Counterparty and the Trustee prepared for such Distribution Date pursuant to Section 4.10(f). Any such P&I Advance for any Distribution Date shall be included in the amounts paid to the F/X Counterparty by the Master Servicer on behalf of the Trustee two Business Days prior to such Distribution Date pursuant to the Foreign Currency Exchange Contract. (e) The Trustee, and subject to Section 4.05(c), the Master Servicer, shall be entitled to interest on any Advance made thereby with respect to a Mortgage Loan. Such interest shall accrue at the Advance Rate from the date on which such Advance was made to but not including any Business Day on which the Person making such Advance is reimbursed for such Advance as provided in this Agreement; provided, however, that neither the Master Servicer nor any other party shall be entitled to interest accrued on the amount of any P&I Advance with respect to any Mortgage Loan if the related Monthly Payment is received by the Master Servicer prior to (but excluding) the Master Remittance Date immediately following the Due Date for such Monthly Payment; provided, further, that neither the Master Servicer nor any other party shall be entitled to interest accrued on the amount of any P&I Advance with respect to any of Mortgage Loan Numbers 92, 132 or 155 (as identified on Exhibit G) made before the end of any such Master Servicer Advance only to the extent that Mortgage Loan's related grace period. (if) 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 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 Advance or that a proposed Master Servicer Advance or a portion of such proposed Master Servicer Advance would constitute a Non-recoverable Nonrecoverable Advance, the Master Servicer shall deliver (i) to the Trustee for the benefit of the Certificateholders funds constituting the remaining portion of such proposed a Nonrecoverable Advance Certificate. (g) The Master Servicer Advance, and (ii) to shall determine on each Business Day whether amounts are available in the Depositor, each Rating Agency and the Trustee, an Officer's Certificate setting forth the basis for such determination. In lieu of making all Collection Account 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 Escrow Account to reimburse 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 Trustee or itself for unreimbursed Advances made pursuant to this Agreement. The Master Servicer shall be entitled to be reimbursed from the Certificate Account for withdraw all Master Servicer Advances of its own funds made pursuant to this Section as provided in Section 3.10. The obligation amounts necessary to make Master Servicer Advances with respect such reimbursement to any Mortgage Loan the extent such withdrawals are permitted under Section 4.03(a) or Section 4.06(c), and shall continue until such Mortgage Loan is paid reimburse the Trustee and itself, in full or purchased from the Trust Fund pursuant to any applicable provision of this Agreement or the related Mortgaged Property has been liquidatedthat order, except as otherwise provided in this Section 4.02on each Business Day.

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 made on such date. If the Master Servicer 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 deliver to the Trustee a Nonrecoverable Advance Bond. (b) To the extent required by the terms of this Agreement, the Master Servicer shall make Servicing Advances from time to time; provided, however, that notwithstanding anything herein to the contrary, the Master Servicer shall not be required to make a Nonrecoverable Advance. (c) The Master Servicer shall determine whether amounts are available in the Collection Account or the escrow account to reimburse the Trustee or the Master Servicer for unreimbursed Advances made pursuant to this Agreement. The Master Servicer shall promptly (but in any event no later than ten (10) Business Days following receipt) withdraw all amounts necessary to make such reimbursement to the extent such withdrawals are permitted under Section 4.03(a), and shall reimburse the Trustee or itself. (d) The Master Servicer shall be entitled to be reimbursed interest on any Advance made with respect to a Mortgage Loan. Such interest shall accrue at the Advance Rate from the Certificate Account for all date on which such Advance was made to but not including any Business Day on which the Master Servicer Advances of its own funds made is reimbursed for such Advance pursuant to this Section as provided in Section 3.10. Agreement. (e) The obligation to make Master Servicer Advances with respect shall not make any Advance hereunder prior to any Mortgage Loan shall continue until the time such Mortgage Loan Advance 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 4.02required hereunder.