P & I Advances definition

P & I Advances. Principal and Net Interest advances expended by Seller in accordance with each applicable Servicing Agreement (net of prepaid principal and interest, as applicable).
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P & I Advances. With respect to the servicing of a Mortgage Loan, any principal and interest amounts required to be advanced in accordance with the terms of the related Servicing Agreement in connection with delinquent Monthly Payments (net of prepaid principal and interest, as applicable), and reimbursable in accordance with such Servicing Agreement (other than Corporate Advances and T & I Advances). Parties: Seller and Purchaser.
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P & I Advances. Principal and interest advances made by Seller (or acquired from the FDIC) in accordance with the applicable Servicing Agreement.
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Examples of P & I Advances in a sentence

  • Whenever used herein, the following words and phrases, unless the context otherwise requires, shall have the following meanings: Advances: All Corporate Advances, P & I Advances and T & I Advances, including any applicable receivables associated therewith.


More Definitions of P & I Advances

P & I Advances. Advances of interest or principal to cover any shortfall between (i) Monthly Payments for each Mortgage Loan and (ii) the amounts actually collected on account of such Monthly Payments for each such Mortgage Loan during the related Due Period.
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Related to P & I Advances

  • Revolving Advances means Advances made other than Letters of Credit.

  • Monthly Advances Principal and interest advances and servicing advances including costs and expenses of foreclosure.

  • Servicing Advances All customary, reasonable and necessary "out of pocket" costs and expenses incurred in the performance by the Master Servicer of its servicing obligations, including, but not limited to, the cost of (i) the preservation, restoration and protection of a Mortgaged Property, (ii) any expenses reimbursable to the Master Servicer pursuant to Section 3.11 and any enforcement or judicial proceedings, including foreclosures, (iii) the management and liquidation of any REO Property and (iv) compliance with the obligations under Section 3.09.

  • Outstanding Advances means, with respect to a Receivable and the last day of a Collection Period, the sum of all Advances made as of or prior to such date, minus (1) all payments or collections as of or prior to such date which are specified in Section 4.04(b) and (c) as applied to reimburse all unpaid Advances with respect to such Receivable and (2) all amounts for which the Servicer has deemed to have released all claims for reimbursement of Outstanding Advances pursuant to Section 3.08.

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Agent Advances has the meaning set forth in Section 2.3(e)(i).

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

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

  • Management Advances means loans or advances made to, or Guarantees with respect to loans or advances made to, directors, officers, employees or consultants of any Parent, the Company or any Restricted Subsidiary:

  • Revolving Advance has the meaning given in Section 2.1.

  • Eligible advance means an advance made before August 19, 1993.

  • Cash Advances These are from cash advances and cash equivalent transactions you make with your account. “Special Offers” These are from your use of the account to take advantage of special, introductory, or promotional offers we make available to you at times. Each such transaction may be kept track of separately on your statement and may be treated as its own Balance Category.

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

  • 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.

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

  • Protective Advances has the meaning specified therefor in Section 2.3(d)(i) of the Agreement.

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

  • Participation Advance shall have the meaning set forth in Section 2.12(d).

  • Revolving Credit Advances has the meaning assigned to such term in Section 2.1.

  • Trustee Advance Rate With respect to any Advance made by the Trustee pursuant to Section 4.01(b), a per annum rate of interest determined as of the date of such Advance equal to the Prime Rate in effect on such date plus 5.00%.