Credited Advance Funding definition

Credited Advance Funding. As defined in Section 4.2(a) hereof.
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Credited Advance Funding. If the Revolving Period is not in effect for any Class of Note, the Servicer shall remit to the Collection and Funding Account the amount of any Credited Advance Funding within two (2) Business Days of its knowledge of the amount of any such Credited Advance Funding. Any amounts remitted by the Servicer to the Collection and Funding Account shall be deemed to constitute Advance Reimbursement Amounts in respect of the Delinquency Advance deemed to have been reimbursed in connection with such Credited Advance Funding. To the extent the Indenture Trustee receives for deposit Advance Reimbursement Amounts in the Collection and Funding Account later than 2:00 p.m. New York City time on a Business Day, such funds shall be deemed to have been received on the following Business Day. If Xxxxxx Mae or Xxxxxxx Mac remits any payments directly to a Trust Account, the Servicer shall identify any amounts remitted that do not constitute Collateral. Upon any such identification, the Servicer shall give written notice to the Indenture Trustee and the Administrative Agent within two (2) Business Days thereof along with reasonable supporting documentation. Within two (2) Business Days, but as soon as reasonably practicable, of the Indenture Trustee’s receipt of written direction from the Servicer and written confirmation from the Administrative Agent, the Indenture Trustee shall withdraw such amounts that do not constitute Collateral and remit such amounts to such accounts as may be designated in writing by the Servicer to the Indenture Trustee.
Sample 1
Credited Advance Funding to the extent permitted pursuant to the Xxxxxxx Mac Consent, the Xxxxxxx Mac Guide and the Xxxxxxx Mac Purchase Documents. If the Revolving Period is not in effect for any Class of Note, the Servicer shall remit to the Collection and Funding Account the amount of any Credited Advance Funding within ten (10) Business Days of its knowledge of the amount of any such Credited Advance Funding. Any amounts remitted by the Servicer or any Subservicer to the Collection and Funding Account shall be deemed to constitute Advance Reimbursement Amounts in respect of the Delinquency Advance deemed to have been reimbursed in connection with such Credited Advance Funding. To the extent the Indenture Trustee receives for deposit Advance Reimbursement Amounts in the Collection and Funding Account later than 2:00 p.m. Eastern Time on a Business Day, such funds shall be deemed to have been received on the following Business Day. If Xxxxxx Mae or Xxxxxxx Mac remits any payments directly to a Trust Account, the Servicer shall identify any amounts remitted that do not constitute Collateral. Upon any such identification, the Servicer shall promptly give the Indenture Trustee and the Administrative Agent written notice thereof and reasonable supporting documentation. Within two (2) Business Days, but as soon as reasonably practicable, of the Indenture Trustee’s receipt of written direction from the Servicer and written confirmation from the Administrative Agent, the Indenture Trustee shall withdraw such amounts that do not constitute Collateral and remit such amounts to such accounts as may be designated in writing by the Servicer to the Indenture Trustee.
Sample 1

Examples of Credited Advance Funding in a sentence

  • Any amounts remitted by the Servicer to the Collection and Funding Account shall be deemed to constitute Advance Reimbursement Amounts in respect of the Delinquency Advance deemed to have been reimbursed in connection with such Credited Advance Funding.

  • The Depositor shall not have any obligation to pay to Green Tree a cash Purchase Price in connection with any Delinquency Advance arising in connection with a Credited Advance Funding unless Green Tree pays to the Depositor or its assigns the Advance Reimbursement Amounts for the Delinquency Advances deemed to have been reimbursed in connection with such Credited Advance Funding.

  • If the Revolving Period is not in effect for any Class of Note, the Servicer shall remit to the Collection and Funding Account the amount of any Credited Advance Funding within ten (10) Business Days of its knowledge of the amount of any such Credited Advance Funding.

  • The Issuer shall not have any obligation to pay to the Depositor a cash Purchase Price in connection with any Delinquency Advance arising in connection with a Credited Advance Funding unless the Depositor (or Ditech, as Servicer) pays to the Issuer or its assigns the Advance Reimbursement Amounts for the Delinquency Advances deemed to have been reimbursed in connection with such Credited Advance Funding.

  • The Depositor shall not have any obligation to pay to Ditech a cash Purchase Price in connection with any Delinquency Advance arising in connection with a Credited Advance Funding unless Ditech pays to the Depositor or its assigns the Advance Reimbursement Amounts for the Delinquency Advances deemed to have been reimbursed in connection with such Credited Advance Funding.

  • If the Revolving Period is not in effect for any Class of Note, the Servicer shall remit to the Collection and Funding Account the amount of any Credited Advance Funding within two (2) Business Days of its knowledge of the amount of any such Credited Advance Funding.

  • If the Revolving Period is not in effect for any Class of Note, the Servicer shall remit to the Collection and Funding Account the amount of any Credit Advance Funding within 10 Business Days of its knowledge of the amount of any such Credited Advance Funding.

  • Any amounts remitted by the Servicer or any Subservicer to the Collection and Funding Account shall be deemed to constitute Advance Reimbursement Amounts in respect of the Delinquency Advance deemed to have been reimbursed in connection with such Credited Advance Funding.

  • The Issuer shall not have any obligation to pay to Green Tree a cash Purchase Price in connection with any Delinquency Advance arising in connection with a Credited Advance Funding unless the Depositor (or Green Tree, as Servicer) pays to the Issuer or its assigns the Advance Reimbursement Amounts for the Delinquency Advances deemed to have been reimbursed in connection with such Credited Advance Funding.

Related to Credited Advance Funding

  • Interest Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.

  • Interest Advance means an Advance made pursuant to Section 2.02(a).

  • Simple Interest Advance means, with respect to a Simple Interest Receivable, the amount, as of the last day of a Collection Period, which is advanced with respect to such Simple Interest Receivable by the Servicer pursuant to Section 4.4(a) of the Sale and Servicing Agreement.

  • Excess Funding Account shall have the meaning specified in Section 4.02.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Revolving Advance has the meaning given in Section 2.1.

  • Tranche A Advance means an Advance made by a Bank under Tranche A.

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • Funding Account has the meaning assigned to such term in Section 4.01(h).

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Principal Funding Account shall have the meaning specified in subsection 4.03(a)(i).

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • Agent Advance shall have the meaning provided in Section 2.01(e).

  • Payment/Advance Form is that certain form attached hereto as Exhibit B.

  • Committed Advance means an advance made by a Lender to a Borrower as part of a Committed Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Committed Advance, each of which is a “Type” of Committed Advance.

  • Term Advance has the meaning specified in Section 2.01(a).

  • Simple Interest Loan means any Loan under which the portion of a payment allocable to interest and the portion allocable to principal is determined by allocating a fixed level payment between principal and interest, such that such payment is allocated first to the accrued and unpaid interest at the Annual Percentage Rate for such Loan on the unpaid principal balance and the remainder of such payment is allocable to principal.

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • Pre-Funding Amount With respect to any date, the amount on deposit in the Pre-Funding Account.

  • Tax Advances has the meaning set forth in Section 5.07.

  • PPP Loan means (i) any covered loan under paragraph (36) of Section 7(a) of the Small Business Act (15 U.S.C. 636(a)), as added by Section 1102 of the CARES Act, or (ii) any loan that is an extension or expansion of, or is similar to, any covered loan described in clause (i).

  • Loan Advance The meaning specified in Section 2.2(a).

  • Acquisition Loan means a loan or other extension of credit, including an installment obligation to a “party in interest” (as defined in Section 3(14) of ERISA) incurred by the Trustee in connection with the purchase of Company Stock.

  • Tax Advance has the meaning set forth in Section 6.02(a).

  • Maximum Revolving Advance Amount means $25,000,000.