Remittances; P&I Advances. (a) For purposes of this Section 4.6, "Applicable Monthly Payment" shall mean, for any Mortgage Loan with respect to any month, (A) if such Mortgage Loan is delinquent as to its Balloon Payment (including any Mortgage Loan as to which the related Mortgaged Property has become an REO Property and for any month after the related Balloon Payment would have been due), the related Assumed Scheduled Payment and (B) if such Mortgage Loan is not described by the preceding clause (including any such Mortgage Loan as to which the related Mortgaged Property has become an REO Property), the Monthly Payment.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)
Remittances; P&I Advances. (a) For purposes of this Section 4.6, "Applicable Monthly Payment" shall mean, for any Mortgage Loan with respect to any month, (A) if such Mortgage Loan is delinquent as to its Balloon Payment (including any Mortgage Loan as to which the related Mortgaged Property has become an REO Property and for any month after the related Balloon Payment would have been due), the related Assumed Scheduled Payment and (B) if such Mortgage Loan is not described by the preceding clause (including any such Mortgage Loan as to which the related Mortgaged Property has become an REO Property), the Monthly Payment.. 116
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Midland Realty Accept Corp Com Mort Pass THR Cert Se 1996 C2)
Remittances; P&I Advances. (a) For purposes of this Section 4.64.5, "Applicable Monthly Payment" shall mean, for any Mortgage Loan with respect to any month, (A) if such Mortgage Loan is delinquent as to its Balloon Payment (including any Mortgage Loan as to which the related Mortgaged Property has become an REO Property and for any month after the related Balloon Payment would have been due), the related Assumed Scheduled Monthly Payment and (B) if such Mortgage Loan is not described by the preceding clause (including any such Mortgage Loan as to which the related Mortgaged Property has become an REO Property), the Monthly Payment.. 115
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Commercial Mortgage Pass Through Certificates Series 1998 C1)
Remittances; P&I Advances. (a) For purposes of this Section 4.64.5, "Applicable Monthly Payment" shall mean, for any Mortgage Loan with respect to any month, (A) if such Mortgage Loan is delinquent as to its Balloon Payment (including any Mortgage Loan as to which the related Mortgaged Property has become an REO Property and for any month after the related Balloon Payment would have been due), the related Assumed Scheduled Monthly Payment and (B) if such Mortgage Loan is not described by the preceding clause (including any such Mortgage Loan as to which the related Mortgaged Property has become an REO Property), the Monthly Payment.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Commercial Mortgage Acceptance Corp)
