Deficiency Advance definition

Deficiency Advance has the meaning specified in Section 3.11.
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Deficiency Advance has the meaning set forth in Section 2.06.
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Deficiency Advance as defined in Section 2.4(b).
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Examples of Deficiency Advance in a sentence

  • Acceptance by the Transferor of a Deficiency Advance from the Administrative Agent shall in no way limit the rights of the Transferor against the Purchaser failing to fund its pro rata portion (based on its Percentage) of the purchase price of any purchase hereunder.

  • Notwithstanding the foregoing, URT's agreement to make the Effective Date Deficiency Advance and URT's Allowed Claim Notes Guarantee shall be valid and enforceable obligations of URT in accordance with, and following the occurrence of: (i) all conditions precedent under the Term Sheet, including Confirmation of the Debtor's Plan, and (ii) the full execution of all documents to be executed pursuant to the Term Sheet.

  • Acceptance by the Transferor of a Deficiency Advance from the Agent shall in no way limit the rights of the Transferor against the Purchaser failing to fund its pro rata portion (based on its Percentage) of the Purchase Price of any purchase hereunder.

  • The Deficiency Advance, and all accrued but unpaid interest thereon, shall be due and payable by the Defaulting Holder upon demand by the non-defaulting Holder.

  • In the event a Holder (the "Defaulting Holder") fails to satisfy its Funding Obligation with respect to a Lending (a "Funding Default"), the other Holder may, at its sole option, elect to pay the Defaulting Holder's unpaid Funding Obligation (the "Deficiency Advance") within 20 business days following the date the Funding Obligation was to have been satisfied.

  • Interest shall accrue on each and every advance made by URT on behalf of the Debtor (the "URT Advances") pursuant to the Allowed Claim Notes Guarantee and the Effective Date Deficiency Advance from the date that each URT Advance is made and at the same interest rate payable to the Majors under the Allowed Claim Notes.

  • Class 7 Allowed Non-Priority Unsecured and Convenience Claims (exclusive of Claims in Classes 2, 3, 4, 5 or 6) shall receive the full amount1 of their Allowed Claims on the later of (i) the Effective Date, or (ii) the date -------- 1 The distribution will be paid from the following sources: 27% from the Debtor and 73% from a portion of the Effective Date Deficiency Advance from URT.

  • Such paying non-defaulting Holder shall automatically acquire a lien upon the Defaulting Holder's Debenture and Defaulted Interest (as such term is defined in the Partnership Agreement) for the amount so paid, plus interest thereon at a rate per annum of (a) the greater of the prime rate of interest in effect on the date of the Deficiency Advance (as published in the Wall Street Journal) plus 3%, or 15%, or (b) the maximum rate permitted by applicable law, whichever is less.

  • URT's agreement to make the Effective Date Deficiency Advance and to execute and deliver the Allowed Claim Notes Guarantee does not constitute, is not intended as, shall not be deemed, and shall not be asserted to be, an acknowledgment that URT has any obligation of any kind (except as specifically set forth in the Plan) to any holder of a claim against or interest in the Debtor.


More Definitions of Deficiency Advance

Deficiency Advance has the meaning provided in Section 4.4.
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Deficiency Advance has the meaning given such term in SECTION 4.9.
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Related to Deficiency Advance

  • Delinquency Advance As defined in Section 8.09(a) hereof.

  • Emergency Advance Any Servicing Advance, whether or not it is a Servicing Advance that, pursuant hereto, the Special Servicer is required to make (at its sole discretion in accordance with the Servicing Standard) or to request the Master Servicer to make, that must be made within three (3) Business Days of the Special Servicer obtaining actual knowledge that it must be made in order to avoid any material penalty, any material harm to a Mortgaged Property securing a Serviced Mortgage Loan or Serviced Loan Combination or any other material adverse consequence to the Trust Fund.

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

  • Property Advance means an advance made in respect of property protection expenses or expenses incurred to protect, preserve and enforce the security for the Mortgage Loan or to pay taxes and assessments or insurance premiums with respect to the Mortgaged Property.

  • Monthly P&I Advance An advance of funds by the Master Servicer pursuant to Section 4.02 or a Servicer pursuant to its Selling and Servicing Contract to cover delinquent principal and interest installments.

  • Eurocurrency Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurocurrency Rate.

  • P&I Advance means an advance made by a party to any Securitization Servicing Agreement in respect of a delinquent monthly debt service payment on the Note(s) securitized pursuant to such Securitization Servicing Agreement.

  • Servicer Advance or "Servicing Advance" as defined in the applicable Purchase and Servicing Agreement.

  • Nonrecoverable Advance Any portion of an Advance previously made or proposed to be made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by the Master Servicer from the related Mortgagor, related Liquidation Proceeds or otherwise.

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

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

  • Term SOFR Advance means an Advance that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • 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.

  • Servicing Advance shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

  • Eurodollar Advance means an Advance which, except as otherwise provided in Section 2.11, bears interest at the applicable Eurodollar Rate.

  • Nonrecoverable Monthly Advance Any Monthly Advance previously made or proposed to be made in respect of a Mortgage Loan or REO Property that, in the good faith business judgment of the Seller, will not, or, in the case of a proposed Monthly Advance, would not be, ultimately recoverable from related late payments, Insurance Proceeds or Liquidation Proceeds on such Mortgage Loan or REO Property as provided herein.

  • Payment Date Advance Reimbursement has the meaning set forth in Section 8.03(a)(iii)(A) of the 20[•]-[•] Servicing Supplement.

  • Servicer Advance Date As to any Distribution Date, 11:30 a.m., Eastern time, on the Business Day immediately preceding such Distribution Date.

  • Subservicer Advance Any delinquent installment of principal and interest on a Mortgage Loan which is advanced by the related Subservicer (net of its Subservicing Fee) pursuant to the Subservicing Agreement.

  • P&I Advance Date The Business Day immediately prior to each Distribution Date.

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • Monthly Advance The portion of each Monthly Payment that is delinquent with respect to each Mortgage Loan at the close of business on the Determination Date required to be advanced by the Company pursuant to Section 5.03 on the Business Day immediately preceding the Remittance Date of the related month.

  • Periodic Advance The aggregate of the advances required to be made by a Servicer on any Distribution Date pursuant to its Servicing Agreement or by the Master Servicer or the Trustee hereunder, the amount of any such advances being equal to the total of all Monthly Payments (adjusted, in each case (i) in respect of interest, to the applicable Mortgage Interest Rate less the applicable Servicing Fee in the case of Periodic Advances made by a Servicer and to the applicable Net Mortgage Interest Rate in the case of Periodic Advances made by the Master Servicer or Trustee and (ii) by the amount of any related Debt Service Reductions or reductions in the amount of interest collectable from the Mortgagor pursuant to the Soldiers' and Sailors' Civil Relief Act of 1940, as amended, or similar legislation or regulations then in effect) on the Mortgage Loans, that (x) were delinquent as of the close of business on the related Determination Date, (y) were not the subject of a previous Periodic Advance by such Servicer or of a Periodic Advance by the Master Servicer or the Trustee, as the case may be and (z) have not been determined by the Master Servicer, such Servicer or Trustee to be Nonrecoverable Advances.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Nonrecoverable Advances Means, with respect to any Mortgage Loan, (a) any Delinquency Advance or Servicing Advance previously made and not reimbursed pursuant to Section 5.03 of the Sale and Servicing Agreement, or (b) a Delinquency Advance proposed to be made in respect of a Mortgage Loan or REO Property either of which, in the good faith business judgment of the Servicer, as evidenced by an Officer’s Certificate delivered to the Indenture Trustee no later than the Business Day following such determination, would not ultimately be recoverable pursuant to Section 5.03 of the Sale and Servicing Agreement.

  • Master Servicer Advance Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.