Servicing Payment Date Clause Samples
The Servicing Payment Date clause defines the specific date on which payments related to servicing obligations must be made. Typically, this clause outlines when a servicer is required to remit collected funds, such as loan payments or fees, to the appropriate party, which could be monthly, quarterly, or on another agreed schedule. By clearly establishing the timing of these payments, the clause ensures predictability and helps prevent disputes over late or missed remittances.
Servicing Payment Date. Two (2) Business Days prior to the date each monthly payment is due under this Note.
Servicing Payment Date. Notwithstanding Section 2.02(a)(3) (Monthly Debt Service Payments) of the Loan Agreement or any other provision of the Loan Agreement to the contrary, Borrower agrees to pay the Monthly Debt Service Payments to Lender on the Servicing Payment Date even though Monthly Debt Service Payments are due on the Payment Date.