Monthly Advances by the Servicer. (a) By the close of business on each Determination Date the Servicer shall deposit in the Certificate Account, out of its own funds, the related Monthly Advance; provided, however, that any such deposit out of the Servicer's own funds shall be made only to the extent necessary to cause the Available Distribution Amount to be large enough to permit the distribution on the related Remittance Date of the amounts computed as set forth in clauses A(i) through (x) or B(i) through (x), inclusive, as applicable, of Section 6.01(a). (b) On each Remittance Date, the Servicer shall reimburse itself for the Outstanding Amount Advanced to the extent of actual collections of late scheduled payments on the related Contracts. (c) If the Servicer determines that any advance made pursuant to Section 6.04(a) has become a Nonrecoverable Advance and at the time of such determination there exists an Outstanding Amount Advanced, then the Servicer shall reimburse itself out of funds in the related Certificate Account for the amount of such Nonrecoverable Advance, but only to the extent of such Outstanding Amount Advanced.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Vanderbilt Mortgage & Finance Inc), Pooling and Servicing Agreement (Senior Subordinate Pass Through Certificates Series 2001-C), Pooling and Servicing Agreement (Vanderbilt Mortgage & Fin Inc Sen Sub Pa Th Cert Ser 2002-1)
Monthly Advances by the Servicer. (a) By the close of business on each Determination Date the Servicer shall deposit in the each Certificate Account, out of its own funds, the related Monthly Advance; provided, however, that any such deposit out of the Servicer's own funds shall be made only to the extent necessary to cause the related Available Distribution Amount to be large enough to permit the distribution on the related Remittance Date of the amounts computed as set forth in (i) clauses A(i) through (x) or B(i) through (x), inclusive, as applicable, of Section 6.01(a), in the case of the Group I Certificates, and (ii) clauses C(i) through (viii) and D(i) through (viii), inclusive, as applicable, of Section 6.01(a), in the case of the Group II Certificates.
(b) On each Remittance Date, the Servicer shall reimburse itself for the Outstanding Amount Advanced to the extent of actual collections of late scheduled payments on the related Contracts.
(c) If the Servicer determines that any advance made pursuant to Section 6.04(a) has become a Nonrecoverable Advance and at the time of such determination there exists an Outstanding Amount Advanced, then the Servicer shall reimburse itself out of funds in the related Certificate Account for the amount of such Nonrecoverable Advance, but only to the extent of such Outstanding Amount Advanced.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Vanderbilt Mort & Finance Pass Through Cert Series 1999b), Pooling and Servicing Agreement (Vanderbilt Mort & Fi Inc Man Ho Co Se Su Pas Th Ce Se 2000a), Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc MFR HSG Sr Sub Pa Th Ce Sr 1998c)
Monthly Advances by the Servicer. (a) By the close of -------------------------------- business on each Determination Date the Servicer shall deposit in the each Certificate Account, out of its own funds, the related Monthly Advance; provided, however, that any such deposit out of the Servicer's own funds -------- ------- shall be made only to the extent necessary to cause the related Available Distribution Amount to be large enough to permit the distribution on the related Remittance Date of the amounts computed as set forth in (i) clauses A(i) through (xviii) or B(i) through (xviii), inclusive, as applicable, of Section 6.01(a), in the case of the Group I Certificates, and (ii) clauses C(i) through (viii) and D(i) through (viii), inclusive, as applicable, of Section 6.01(a), in the case of the Group II Certificates.
(b) On each Remittance Date, the Servicer shall reimburse itself for the Outstanding Amount Advanced to the extent of actual collections of late scheduled payments on the related Contracts.
(c) If the Servicer determines that any advance made pursuant to Section 6.04(a) has become a Nonrecoverable Advance and at the time of such determination there exists an Outstanding Amount Advanced, then the Servicer shall reimburse itself out of funds in the related Certificate Account for the amount of such Nonrecoverable Advance, but only to the extent of such Outstanding Amount Advanced.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc Man Ho Co Se Su Pa Th Ce Se 1998a), Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc Pass Throu Cert Ser 1998b)
Monthly Advances by the Servicer. (a) By the close of business on each Determination Date the Servicer shall deposit in the Certificate Account, out of its own funds, the related Monthly Advance; provided, however, that any such deposit out of the -------- ------- Servicer's own funds shall be made only to the extent necessary to cause the Available Distribution Amount to be large enough to permit the distribution on the related Remittance Date of the amounts computed as set forth in clauses A(i) through (x) or B(i) through (x), inclusive, as applicable, of Section 6.01(a).
(b) On each Remittance Date, the Servicer shall reimburse itself for the Outstanding Amount Advanced to the extent of actual collections of late scheduled payments on the related Contracts.
(c) If the Servicer determines that any advance made pursuant to Section 6.04(a) has become a Nonrecoverable Advance and at the time of such determination there exists an Outstanding Amount Advanced, then the Servicer shall reimburse itself out of funds in the related Certificate Account for the amount of such Nonrecoverable Advance, but only to the extent of such Outstanding Amount Advanced.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Vanderbilt Mort & Fin Inc Sen Sub Pass THR Cert Ser 2000-D)
Monthly Advances by the Servicer. (a) By the close of business on each Determination Date the Servicer shall deposit in the Certificate Account, out of its own funds, the related Monthly Advance; provided, however, that any such deposit out of the Servicer's own funds shall be made only to the extent necessary to cause the Available Distribution Amount to be large enough to permit the distribution on the related Remittance Date of the amounts computed as set forth in clauses A(i) through (xxi) or B(i) through (xxi), inclusive, as applicable, of Section 6.01(a).
(b) On each Remittance Date, the Servicer shall reimburse itself for the Outstanding Amount Advanced to the extent of actual collections of late scheduled payments on the related Contracts.
(c) If the Servicer determines that any advance made pursuant to Section 6.04(a) has become a Nonrecoverable Advance and at the time of such determination there exists an Outstanding Amount Advanced, then the Servicer shall reimburse itself out of funds in the related Certificate Account for the amount of such Nonrecoverable Advance, but only to the extent of such Outstanding Amount Advanced.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Senior Subordinate Pass Through Cert Series 2003-A)