Monthly Payment Advance definition

Monthly Payment Advance means, with respect to any 20[•]-[•] Lease and any Collection Period, an amount equal to the difference between the Monthly Payment due and the Lessee Partial Monthly Payment.

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Monthly Payment Advance. Any advance made with respect to the Trust Loan by the Servicer or the Trustee pursuant to Section 3.23(a) or, if not made by the Servicer, made by the Trustee pursuant to Section 7.6, as applicable. Each reference to the reimbursement or payment of a Monthly Payment Advance shall be deemed to include, whether or not specifically referred to, payment or reimbursement of interest thereon at the Advance Rate through the date preceding the date of payment or reimbursement.

Monthly Payment Advance means the amount advanced by the Servicer to the Issuer on a Deposit Date equal to the unpaid Monthly Payment due from the related Lessee.

Examples of Monthly Payment Advance in a sentence

For the avoidance of doubt, in the event that the amount of interest and/or principal on the Trust Loan is reduced as a result of any modification to the Trust Loan, any Monthly Payment Advance made with respect to such modified Trust Loan shall be in such amounts as may be required as a result of such reduction.
Neither the Servicer nor the Trustee shall make any Monthly Payment Advance with respect to any Repurchasing Seller’s Loan Percentage Interest of the Whole Loan which has been repurchased as described herein.
For the avoidance of doubt, the Servicer shall be obligated to make Monthly Payment Advances on the basis of the original terms of the Trust Loan, including if it is subject to a forbearance agreement or other temporary deferral or payment accommodation, unless (1) the terms of the Trust Loan have been permanently modified to reduce or forgive a monetary obligation or (2) the Servicer has determined the given Monthly Payment Advance is or will be nonrecoverable.
The Servicer shall maintain a record of each Monthly Payment Advance it has made pursuant to this Section 3.23(a) on the Trust Loan and shall notify the Certificate Administrator thereof in the appropriate CREFC® Reports in order to permit allocation thereof pursuant to Section 3.4 and 3.4(e).
The portion of any Monthly Payment Advance equal to the CREFC® Intellectual Property Royalty License Fee for the Trust Loan and such Distribution Date will not be remitted to the Certificate Administrator but shall be remitted to CREFC®, respectively, by the Servicer.

More Definitions of Monthly Payment Advance

Monthly Payment Advance means with respect to a 2015-2 Lease, the amount advanced by the Servicer to the Issuer on the Business Day immediately preceding the related Payment Date equal to the unpaid Monthly Payment due from the related Lessee.

Monthly Payment Advance means an advance made by the servicer, special servicer or trustee with respect to any Securitization in respect of any Monthly Payment or Assumed Monthly Payment pursuant to the related servicing agreement.

Monthly Payment Advance. As set forth in Section 3.06(a) of the Servicing Agreement.

Monthly Payment Advance. Any advance in respect of the Trust Loan only made by the Servicer or the Trustee pursuant to Section 3.23(a) or Section 3.23(c), as applicable. Each reference to the reimbursement or payment of a Monthly Payment Advance shall be deemed to include, whether or not specifically referred to, payment or reimbursement of interest thereon at the Advance Rate through the date preceding the date of payment or reimbursement. Neither the Servicer nor the Trustee shall be required to make principal and/or interest advances with respect to any Companion Loan, and the term “Monthly Payment Advance” shall be operative only in respect of the Trust Loan.

Monthly Payment Advance. Any advance in respect of a delinquent Monthly Payment (or Assumed Monthly Payment, as applicable) on the Trust Loan (for the avoidance of doubt, excluding any Companion Loan) made by the Servicer or the Trustee pursuant to Section 3.23(a) or (c) as applicable. Each reference to the reimbursement or payment of a Monthly Payment Advance shall be deemed to include, whether or not specifically referred to, payment or reimbursement of interest thereon at the Advance Rate through the date of payment or reimbursement. For the avoidance of doubt, a Monthly Payment Advance shall not include any Balloon Payment.

Monthly Payment Advance means, when TFL is the Servicer, with respect to any Warehouse SUBI Lease and any Settlement Period, an amount advanced by the Servicer

Monthly Payment Advance. As defined in Exhibit A to the COLT Servicing Agreement.