Common use of P&I Advances Clause in Contracts

P&I Advances. (a) The Servicer, in its sole discretion, may deposit into the Custodial Account (from its own funds) an amount equal to the aggregate amount of principal of or interest on Mortgage Loans that were delinquent as of the end of any Collection Period ("P&I Advances"). The Servicer shall notify the Indenture Trustee and the Paying Agent by a certificate of the Servicing Officer of (i) the aggregate amount of P&I Advances for a Payment Date and (ii) the amount of any Nonrecoverable P&I Advances for such Payment Date. (b) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder or shall be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. On the fourth Business Day before each Payment Date, the Servicer shall determine whether each P&I Advance made with respect to any previous Payment Date is a Nonrecoverable P&I Advance.

P&I Advances. (a) The Servicer, in its sole discretion, may deposit into the Custodial Account (from its own funds) an amount equal to the aggregate amount of principal of or interest on Mortgage Loans that were delinquent as of the end of any Collection Period ("P&I Advances"). The Servicer shall notify the Indenture Trustee and the Paying Agent by a certificate of the Servicing Officer of (i) the aggregate amount of P&I Advances for a Payment Date and (ii) the amount of any Nonrecoverable P&I Advances for such Payment Date. (b) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder or shall be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. On the fourth Business Day before each Payment Date, the Servicer shall determine whether each P&I Advance made with respect to any previous Payment Date is a Nonrecoverable P&I Advance.

P&I Advances. (a) The Servicer, in its sole discretion, may deposit into the Custodial Account (from its own funds) an amount equal to the aggregate amount of principal of or interest on Mortgage Loans that were delinquent as of the end of any Collection Period ("“P&I Advances"”). The Servicer shall notify the Indenture Trustee and the Paying Agent by a certificate of the Servicing Officer of (i) the aggregate amount of P&I Advances for a Payment Date and (ii) the amount of any Nonrecoverable P&I Advances for such Payment Date. (b) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder or shall be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. On the fourth Business Day before each Payment Date, the Servicer shall determine whether each P&I Advance made with respect to any previous Payment Date is a Nonrecoverable P&I Advance.

P&I Advances. (a) The Servicer, in its sole discretion, may deposit into the Custodial Account (from its own funds) an amount equal to the aggregate amount of principal of or interest on Mortgage Loans that were delinquent as of the end of any Collection Period ("“P&I Advances"”). The Servicer shall notify the Indenture Trustee and the Paying Agent by a certificate of the Servicing Officer of (i) the aggregate amount of P&I Advances for a Payment Date and (ii) the amount of any Nonrecoverable P&I Advances for such Payment Date. (b) Notwithstanding anything herein to the contrary, no P&I Advance shall be required to be made hereunder or shall be made hereunder if such P&I Advance would, if made, constitute a Nonrecoverable P&I Advance. On the fourth Business Day before each Payment Date, the Servicer shall determine whether each P&I Advance made with respect to any previous Payment Date is a Nonrecoverable P&I Advance.