Common use of Monthly Advances by Seller Clause in Contracts

Monthly Advances by Seller. On the Business Day immediately preceding each Remittance Date, the Seller shall deposit in the Custodial Account from its own funds an amount equal to all Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 5.01. The Seller's obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan unless the Seller deems such Monthly Advances to be unrecoverable, as evidenced by an Officer's Certificate of the Seller delivered to the Master Servicer. Any amounts held for future distribution and so used to make Monthly Advances shall be replaced by the Seller by deposit in the Custodial Account on or before any future Remittance Date if funds in the Custodial Account on such Remittance Date shall be less than payments to the Trust Fund required to be made on such Remittance Date.

Monthly Advances by Seller. On The Seller shall deposit in the Custodial Account on the Business Day immediately preceding each Remittance Date, the Seller shall deposit in the Custodial Account from its own funds or from amount held for future distribution, or both, an amount equal to all Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 5.016. 01. Any amounts held for future distribution and so used shall be replaced by the Seller by deposit in the Custodial Account on or before any future Remittance Date if funds in the Custodial Account on such Remittance Date shall be less than remittances to the Purchaser required to be made on such Remittance Date. The Seller's obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan unless the Seller deems such Monthly Advances to be unrecoverable, as evidenced by an Officer's Certificate of the Seller delivered to the Master Servicer. Any amounts held for future distribution and so used to make Monthly Advances shall be replaced by the Seller by deposit in the Custodial Account on or before any future Remittance Date if funds in the Custodial Account on such Remittance Date shall be less than payments to the Trust Fund required to be made on such Remittance DateLoan.

Monthly Advances by Seller. On The Seller shall deposit in the Custodial Account on the Business Day immediately preceding each Remittance Date, the Seller shall deposit in the Custodial Account from its own funds or from amount held for future distribution, or both, an amount equal to all Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 5.016.01. Any amounts held for future distribution and so used shall be replaced by the Seller by deposit in the Custodial Account on or before any future Remittance Date if funds in the Custodial Account on such Remittance Date shall be less than remittances to the Purchaser required to be made on such Remittance Date. The Seller's ’s obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan unless the Seller deems such Monthly Advances to be unrecoverable, as evidenced by an Officer's Certificate of the Seller delivered to the Master Servicer. Any amounts held for future distribution and so used to make Monthly Advances shall be replaced by the Seller by deposit in the Custodial Account on or before any future Remittance Date if funds in the Custodial Account on such Remittance Date shall be less than payments to the Trust Fund required to be made on such Remittance DateLoan.

Monthly Advances by Seller. On the Business Day immediately preceding each Remittance Date, the Seller shall deposit in the Custodial Account from its own funds an amount equal to all Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date Determina-tion Date. This deposit may be offset by any funds held for a future distribution not due on the current Remittance Date, but any such funds so used shall be replaced by Seller by deposit in the Custodial Account on or which were deferred pursuant to Section 5.01before the next Remittance Date. The Seller's obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including Insurance Proceeds and Condemnation Proceedsproceeds under any title, hazard or other insurance policy, or condemnation awards) with respect to the Mortgage Loan, or through the Remittance Date prior to the date the Mortgage Loan unless is converted to REO Property, provided, however, that such obligation shall cease if (a) there has been a final disposition of the Mortgage Loan or (b) if Seller, in its good faith judgment, determines that such advances would not be recoverable from late payments with respect to such Mortgage Loan or Liquidation Proceeds or Insurance Proceeds received in connection with the related Mortgaged Property. The determination by Seller deems such Monthly Advances to that an advance, if made, would be unrecoverablenonrecoverable, as shall be evidenced by an Officer's Certificate of the Seller Seller, delivered to Purchaser, which details the Master Servicer. Any amounts held reasons for future distribution such determination and so used to make Monthly Advances shall be replaced by contains an appraisal of the Seller by deposit in value of the Custodial Account on or before any future Remittance Date if funds in the Custodial Account on such Remittance Date shall be less than payments to the Trust Fund required to be made on such Remittance DateMortgaged Property.

Monthly Advances by Seller. On or prior to the Business Day immediately preceding each Remittance Date, the Seller shall deposit in the Custodial Account from its own funds an amount equal to all Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 5.012.01. The Seller's obligation to make such Monthly Advances as to any Mortgage Loan will continue through the earliest of (i) the last Monthly Payment due prior to the payment in full of the Mortgage Loan, or through through; (ii) the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan unless Loan; and (iii) the date on which the Seller deems such determines that further Monthly Advances would not be recoverable (provided, that with respect to each Mortgage Loan for which the Seller determines further Monthly Advances would not be unrecoverablerecoverable, as evidenced by the Seller shall deliver to the Purchaser an Officer's Certificate Certificate). (g) (g) Section 4.03 of the Seller delivered to Existing Servicing Agreement is hereby amended by deleting the Master Servicer. Any amounts held for future distribution entire paragraph in its entirety and so used to make Monthly Advances shall be replaced by replacing it with the Seller by deposit in the Custodial Account on or before any future Remittance Date if funds in the Custodial Account on such Remittance Date shall be less than payments to the Trust Fund required to be made on such Remittance Date.following language:

Monthly Advances by Seller. On or prior to the Business Day immediately preceding each Remittance Date, the Seller shall deposit in the Custodial Account from its own funds an amount equal to all Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 5.012.01. The Seller's obligation to make such Monthly Advances as to any Mortgage Loan will continue through the earliest of (i) the last Monthly Payment due prior to the payment in full of the Mortgage Loan, or through ; (ii) the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan unless Loan; and (iii) the date on which the Seller deems such determines that further Monthly Advances would not be recoverable (provided, that with respect to each Mortgage Loan for which the Seller determines further Monthly Advances would not be unrecoverablerecoverable, as evidenced by the Seller shall deliver to the Purchaser an Officer's Certificate Certificate). (g) Section 4.03 of the Seller delivered to Existing Servicing Agreement is hereby amended by deleting the Master Servicer. Any amounts held for future distribution entire paragraph in its entirety and so used to make Monthly Advances shall be replaced by replacing it with the Seller by deposit in the Custodial Account on or before any future Remittance Date if funds in the Custodial Account on such Remittance Date shall be less than payments to the Trust Fund required to be made on such Remittance Date.following language:

Monthly Advances by Seller. On the Business Day immediately preceding each Remittance Date, the Seller shall deposit in the Custodial Account from its own funds an amount equal to all Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 5.013.01. The Seller's ’s obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan unless the Seller deems such Monthly Advances to be unrecoverable, as evidenced by an Officer's ’s Certificate of the Seller delivered to the Master Servicer. Any amounts held for future distribution and so used to make Monthly Advances shall be replaced by the Seller by deposit in the Custodial Account on or before any future Remittance Date if funds in the Custodial Account on such Remittance Date shall be less than payments to the Trust Fund required to be made on such Remittance Date.