Common use of Monthly Advances by Special Servicer Clause in Contracts

Monthly Advances by Special Servicer. On the Business Day immediately preceding each Remittance Date, the Special Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution, or both, an amount equal to all Monthly Payments (with interest adjusted to the Transferred Mortgage Loan Remittance Rate) which were due on the Transferred Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date. Any amounts held for future distribution and so used shall be replaced by the Special Servicer 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 Master Servicer required to be made on such Remittance Date. The Special Servicer shall keep appropriate records of such amounts and will provide such records to the Master Servicer upon request. The Special Servicer’s obligation to make such Monthly Advances as to any Transferred Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full of the Transferred 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 related Transferred Mortgage Loan.

Monthly Advances by Special Servicer. On the Business Day immediately preceding each Remittance Date, the Special Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution, or both, an amount equal to all Monthly Payments (with interest adjusted to the Transferred Mortgage Loan Remittance Rate) which were due on the Transferred Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date. Any amounts held for future distribution and so used shall be replaced by the Special Servicer 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 Master Servicer required to be made on such Remittance Date. The Special Servicer shall keep appropriate records of such amounts and will provide such records to the Master Servicer upon request. The Special Servicer’s obligation to make such Monthly Advances as to any Transferred Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full of the Transferred 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 related Transferred Mortgage Loan. Notwithstanding anything in this Section 4.03 to the contrary, the Special Servicer’s obligation to make Monthly Advances on the Transferred Mortgage Loans in the aggregate for a Remittance Date shall be reduced by any Capitalization Reimbursement Amounts reimbursed to the Servicer during the related Due Period.

Monthly Advances by Special Servicer. On the Business Day immediately preceding each Remittance Date, the Special Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution, or both, an amount equal to all Monthly Payments (with interest adjusted to the Transferred Mortgage Loan Remittance Rate) which were due on the Transferred Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date. Any amounts held for future distribution and so used shall be replaced by the Special Servicer 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 Master Servicer required to be made on such Remittance Date. The Special Servicer shall keep appropriate records of such amounts and will provide such records to the Master Servicer upon request. The Special Servicer’s obligation to make such Monthly Advances as to any Transferred Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full of the Transferred 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 related Transferred Mortgage Loan. Notwithstanding anything in this Section 4.03 to the contrary, the Special Servicer’s obligation to make Monthly Advances on the Mortgage Loans in the aggregate for a Remittance Date shall be reduced by any Capitalization Reimbursement Amounts reimbursed to the Servicer during the related Due Period.