Master Servicer Remittance Date Clause Samples
The Master Servicer Remittance Date clause defines the specific date by which the master servicer must transfer collected funds, such as loan payments or other receivables, to the designated account or trustee. Typically, this date is set on a recurring basis, such as monthly, and may be calculated as a certain number of days after the end of a collection period. By establishing a clear deadline for remittances, this clause ensures timely distribution of funds, supports accurate cash flow management, and reduces the risk of payment delays within structured finance transactions.
Master Servicer Remittance Date. 17 Maximum Class A Pass-Through Rate......................... 18 Maximum LT3 Uncertificated Interest Deferral Amount....... 18
Master Servicer Remittance Date. If a Master Servicer Event of Default described in clauses (i) through (vi) of this Section shall occur, then, and in each and every such case, so long as such Master Servicer Event of Default shall not have been remedied, the Depositor or the Trustee may, and at the written direction of the Holders of Certificates entitled to at least 51% of Voting Rights or the NIMS Insurer, the Trustee shall, by notice in writing to the Master Servicer (and to the Depositor if given by the Trustee or to the Trustee if given by the Depositor), terminate all of the rights and obligations of the Master Servicer in its capacity as Master Servicer under this Agreement, to the extent permitted by law, and in and to the Mortgage Loans and the proceeds thereof. If a Master Servicer Event of Default described in clause (vii) hereof shall occur, the Trustee shall, by notice in writing to the Master Servicer, the Depositor and the NIMS Insurer, terminate all of the rights and obligations of the Master Servicer in its capacity as Master Servicer under this Agreement and in and to the Mortgage Loans and the proceeds thereof. On or after the receipt by the Master Servicer of such written notice, all authority and power of the Master Servicer under this Agreement, whether with respect to the Certificates (other than as a Holder of any Certificate) or the Mortgage Loans or otherwise, shall pass to and be vested in the Trustee pursuant to and under this Section, and, without limitation, the Trustee is hereby authorized and empowered, as attorney-in-fact or otherwise, to execute and deliver, on behalf of and at the expense of the Master Servicer, any and all documents and other instruments and to do or accomplish all other acts or things necessary or appropriate to effect the purposes of such notice of termination, whether to complete the transfer and endorsement or assignment of the Mortgage Loans and related documents, or otherwise. The Master Servicer agrees to promptly (and in any event no later than ten Business Days subsequent to such notice) provide the Trustee with all documents and records requested by it to enable it to assume the Master Servicer's functions under this Agreement, and to cooperate with the Trustee in effecting the termination of the Master Servicer's responsibilities and rights under this Agreement, including, without limitation, the transfer within one Business Day to the Trustee for administration by it of all cash amounts which at the time shall be or should ...
Master Servicer Remittance Date. No later than 3 P.M. New York City time one Business Day prior to each Payment Date.
Master Servicer Remittance Date. 32 Maximum Group III Rate.........................................32
Master Servicer Remittance Date. The eighteenth (18th) calendar day of each month or, if such eighteenth (18th) day is not a Business Day, then the Business Day immediately following such eighteenth (18th) day of the month.
Master Servicer Remittance Date. 18 Minimum Net Mortgage Rate......................................... 18
Master Servicer Remittance Date. 15 Maximum Class A Pass-Through Rate.................................. 15