Periodic Advances. If, on any Servicer Payment Date, the Master Servicer determines that any Monthly Payments due during the related Due Period have not been received as of the end of the related Due Period, the Master Servicer shall determine the amount of any Periodic Advance required to be made with respect to the related Payment Date. The Master Servicer shall deliver, one (1) Business Day after such Servicer Payment Date, a magnetic tape, diskette (or such other electronic medium used by the Master Servicer for such purpose) to the Backup Servicer indicating the payment status of each Mortgage Loan as of the date which is two Business Days prior to such Servicer Payment Date. The Master Servicer shall include in the amount to be deposited in the related Payment Account on such Servicer Payment Date an amount equal to the Periodic Advance, if any, which deposit may be made in whole or in part from funds in the Collection Account being held for future payment or withdrawal on or in connection with Payment Dates in subsequent months, other than any such amounts which are voluntary Principal Prepayments in full. Any funds being held for future payment to Noteholders and so used shall be replaced by the Master Servicer from its own funds by deposit in the Collection Account on or before the Business Day preceding any future Servicer Payment Date to the extent that funds in the Collection Account on such Servicer Payment Date shall be less than the Servicer Remittance Amount for such Payment Date. The Master Servicer shall designate on its records the specific Mortgage Loans and related installments (or portions thereof) as to which such Periodic Advance shall be deemed to have been made, such determination being conclusive for purposes of withdrawals from the Collection Account pursuant to Section 5.03 hereof.
Periodic Advances. If, on any Determination Date, the Servicer determines that any Monthly Payments due on the Due Date immediately preceding such Determination Date have not been received as of the close of business on such Determination Date, the Servicer shall determine the amount of any Periodic Advance required to be made with respect to such unpaid Monthly Payments on the related Servicer Remittance Date. The Servicer shall, one Business Day after such Determination Date, certify and deliver a magnetic tape or diskette to the Trustee indicating the payment status of each Mortgage Loan as of such Determination Date and shall cause to be deposited in the Trustee Collection Account an amount equal to the Periodic Advance for the related Servicer Remittance Date, which deposit may be made in whole or in part from funds in the Collection Account being held for future distribution or withdrawal on or in connection with Remittance Dates in subsequent months. Any funds being held for future distribution to Certificateholders and so used shall be replaced by the Servicer from its own funds by deposit into the Trustee Collection Account on or before the Determination Date corresponding to any such future Servicer Remittance Date to the extent that funds in the Trustee Collection Account on such future Determination Date shall otherwise be less than the amount required to be transferred to the Certificate Account in respect of payments to Certificateholders required to be made on the Remittance Date related to such future Determination Date. The Servicer shall designate on its records the specific Mortgage Loans and related installments (or portions thereof) as to which such Periodic Advance shall be deemed to have been made, such designation, except in cases of manifest error, being conclusive for purposes of withdrawals from the Collection Account or Trustee Collection Account pursuant to Section 5.4.
Periodic Advances. If, on any Determination Date, the Servicer determines that any Monthly Payments due on the Due Date immediately preceding such Determination Date have not been received as of the end of the related Due Period, the Servicer shall determine the amount of any Periodic Advance required to be made with respect to the related Payment Date. The Servicer shall include in the amount to be deposited in the Collection Account on such Determination Date an amount equal to the Periodic Advance, if any, which deposit may be made in whole or in part from funds in the Collection Account being held for future payment or withdrawal on or in connection with Payment Dates in subsequent months. Any funds being held for future payment to Noteholders and so used shall be replaced by the Servicer from its own funds by deposit in the Collection Account on or before the Business Day preceding any such future Determination Date to the extent that funds in the Collection Account on such Determination Date shall be less than payments to Noteholders required to be made on such date. The Servicer shall designate on its records the specific Mortgage Loans and related installments (or portions thereof) as to which such Periodic Advance shall be deemed to have been made, such determination being conclusive for purposes of withdrawals from the Collection Account pursuant to Section 7.02 hereof.
Periodic Advances. Section 5.21
Periodic Advances. (a) If, on any Payment Date, the Servicer determines that any Monthly Payments due on the Due Date immediately preceding such Payment Date have not been received as of the close of business on the Business Day preceding such Payment Date, the Servicer shall determine the amount of any Periodic Advance required to be made with respect to the related Payment Date. The Servicer shall, on or prior to such Payment Date, furnish a statement to the Indenture Trustee (the information in such statement to be made available to the Initial Noteholder upon request) setting forth the amount of such Monthly Payments which were not received as of the close of business on the Business Day preceding the related Payment Date, and shall include in the amount to be deposited in the Collection Account on such Payment Date an amount equal to the Periodic Advance, if any, from its own funds.
(b) The Servicer shall designate on its records the specific Loans and related installments (or portions thereof) as to which such Periodic Advance shall be deemed to have been made for purposes of withdrawals from the Collection Account pursuant to SECTION 5.01(c)(1).
Periodic Advances. 68 Section 4.10 Foreclosure; Repossession and Alternatives......................69 Section 4.11 Title, Management and Disposition of Foreclosure Property....
Periodic Advances. (a) On or before each Servicer Remittance Date, the Servicer shall be required to remit to the Indenture Trustee out of the Servicer's own funds or from collections on any Mortgage Loans that are not required to be remitted to the Indenture Trustee on such Servicer Remittance Date (all or any portion of such amount to be replaced on future Servicer Remittance Dates) any Periodic Advances for such date. The Servicer shall be permitted to reimburse itself on any Business Day for any Periodic Advances paid from the Servicer's own funds, from late collections on the related Mortgage Loan or as provided in Section 5.04. Notwithstanding the foregoing, in the event that the Servicer determines in accordance with the servicing standards set out herein that any proposed Periodic Advance would be a Nonrecoverable Advance, the Servicer shall not be required to make Periodic Advances with respect to such Mortgage Loan. To the extent that the Servicer previously has made any Periodic Advance with respect to a Mortgage Loan that the Servicer subsequently determines is a Nonrecoverable Advance, the Servicer shall be entitled to reimbursement for such aggregate Nonrecoverable Advances from collections on any Mortgage Loan on deposit in the Collection Account. The Servicer shall give written notice of such determination as to why such amount would not be recoverable to the Indenture Trustee [and the Note Insurer]; PROVIDED, FURTHER, that the Servicer shall be entitled to recover any unreimbursed Periodic Advances in accordance with Section 5.04.
(b) The Servicer will pay all "out-of-pocket" costs and expenses relating to a Mortgagor delinquency or default or other unanticipated event incurred in the performance of its servicing obligations, including, but not limited to, (i) property preservation expenses, (ii) the cost of any enforcement or judicial proceedings, including foreclosures, (iii) the cost of the management and liquidation of Foreclosure Property, and (iv) advances required by Section 5.12(a), except to the extent that such amounts are determined by the Servicer in its reasonable business judgment not to be recoverable. Such costs will constitute Servicing Advances. If the Servicer determines that a Servicing Advance, if made, would be a Nonrecoverable Advance, the Servicer shall make such Servicing Advance only if, in the good faith business judgment of the Servicer, the making of such Servicing Advance is in the best interests of the Securityholders [and the ...
Periodic Advances. 90 SECTION 5.21 INDEMNIFICATION; THIRD PARTY CLAIMS.........................91 SECTION 5.22 MAINTENANCE OF CORPORATE EXISTENCE AND LICENSES; MERGER OR CONSOLIDATION OF THE SERVICER............................................92 SECTION 5.23 ASSIGNMENT OF AGREEMENT BY SERVICER; SERVICER NOT TO RESIGN.92 SECTION 5.24 SERVICER PURCHASE OF CERTAIN MORTGAGE LOANS.................93
Periodic Advances. 73 Section 4.10 Maintenance of Insurance...........................................................................73 Section 4.11 Due-on-Sale Clauses; Assumption and Substitution Agreements........................................74 Section 4.12 Realization Upon Defaulted Loans...................................................................75 Section 4.13 Release of Files...................................................................................76 Section 4.14 Access to Information..............................................................................77 Section 4.15 Release of Loan Files..............................................................................77 Section 4.16
Periodic Advances. (a) If, on any Remittance Date, the Servicer determines that the interest portions of Monthly Payments due in the Remittance Period immediately preceding such Payment Date have not been received as of the related Remittance Date, the Servicer shall determine the amount of any Periodic Advance required to be made with respect to the related Payment Date. The Servicer shall include in the amount to be deposited in the Collection Account on such Payment Date an amount equal to the Periodic Advance, if any, from its own funds.
(b) The Servicer shall be permitted to fund its payment of Periodic Advances on any Remittance Date and to reimburse itself for any Periodic Advances paid from the Servicer's own funds, from collections on the related Loan. The Servicer may use funds deposited to the Collection Account subsequent to the related Remittance Period and shall deposit into the Collection Account with respect thereto (i) late collections from the Borrower whose Delinquency gave rise to the shortfall which resulted in such Periodic Advance and (ii) Net Liquidation Proceeds recovered on account of the related Loan to the extent of the amount of aggregate Periodic Advances related thereto or (iii) from its own funds. If not therefore recovered from the related Borrower or the related Net Liquidation Proceeds, Periodic Advances constituting Nonrecoverable Periodic Advances shall be recoverable pursuant to Section 5.01(c)(1)(iv).
