Common use of Remittance Reports; P&I Advances Clause in Contracts

Remittance Reports; P&I Advances. (a) On the Business Day following each Determination Date, the Master Servicer shall deliver to the Trust Administrator and the Trustee by telecopy (or by such other means as the Master Servicer, the Trust Administrator or the Trustee, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. On the same date, the Master Servicer shall forward to the Trust Administrator by overnight mail a computer readable magnetic tape containing the information set forth in such Remittance Report with respect to the related Distribution Date. Such Remittance Report will include (i) the amount of P&I Advances to be made by the Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.

Remittance Reports; P&I Advances. (a) On the Business Day following each Determination Date, the Master Servicer shall deliver to the Trust Administrator and the Trustee by telecopy (or by such other means as the Master Servicer, the Trust Administrator or the Trustee, as the case may be, may agree from time to time) a Remittance Report with respect to the related Distribution Date. On the same date, the Master Servicer shall forward to the Trust Administrator by overnight mail a computer readable magnetic tape containing the information set forth in such Remittance Report with respect to the related Distribution Date. Such Remittance Report will include (i) the amount of P&I Advances to be made by the Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator may reasonably require to perform the calculations necessary to make the distributions contemplated by Section 4.01 and to prepare the statements to Certificateholders contemplated by Section 4.contemplated