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. 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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Examples of P & I Advances in a sentence

  • An Appraisal Reduction may result, which would have the effect of reducing the amount of P & I Advances made by the Servicer and the voting rights of the most subordinate Class of Certificates then outstanding.

  • 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.

  • Advances related to a delinquent Mortgage Loan expended by Seller in accordance with the Servicing Agreement (other than P & I Advances and T & I Advances), including attorney fees and costs, property preservation, property inspection, and valuation fees, as well as other default related expenses.

  • As part of its servicing duties, the pooling and servicing agreements require OAC to make P & I Advances to the securitization trusts.

  • REPORTS TO The Paying Agent will furnish each CERTIFICATEHOLDERS: Certificateholder, Bloomberg, L.P., the Trepp Group and Charter Research Corporation with information regarding: (i) distributions of principal, interest and prepayment premiums on each Class of Certificates; (ii) the amount of P & I Advances, (iii) outstanding Mortgage Loan and Certificate Balances; (iv) delinquency and prepayment data; (v) and the amount of any Appraisal Reductions.

  • SERVICER ADVANCING: The Servicer will be required to make (i) P & I Advances (excluding principal Balloon Payments and any excess interest on the ARD Loan) and (ii) Servicing Advances, in each case through liquidation of the related Mortgage Loan, unless such Advances are determined by the Servicer to be Nonrecoverable Advances.

  • In addition, P & I Advances may be reduced for any Appraisal Reductions that may occur (see section below).

  • SERVICER ADVANCING: The Servicer will be required to make (i) P & I Advances (excluding principal Balloon Payments) and (ii) Servicing Advances through liquidation of a Mortgage Loan, unless such Advances are determined by the Servicer to be Nonrecoverable Advances, and subject to the effect of any Appraisal Reductions that may occur.

  • As part of its servicing duties, certain pooling and servicing agreements require OAC to make P & I Advances to certain securitization trusts.

  • SERVICER ADVANCING: The Servicer will be required to make (i) P & I Advances (excluding principal Balloon Payments and any excess interest from ARD Loans) and (ii) Servicing Advances through liquidation of a Mortgage Loan, unless such Advances are determined by the Servicer to be Nonrecoverable Advances, and, in the case of P & I Advances, subject to the effect of any Appraisal Reductions that may occur.


More Definitions of P & I Advances

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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Related to P & I Advances

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

  • 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.

  • 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.

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

  • Outstanding Interest Advances means, as of the last day of a Collection Period with respect to a Receivable, the portion of Outstanding Advances allocable to interest.

  • 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. “Eligible Purchases” These are from purchases of goods and services you make with your account (a) at certain merchants or of specified types listed in the Schedule; and (b) in which a single or multiple items are purchased in the same transaction totaling certain amounts as listed in the Schedule. Each Eligible Purchase may be kept track of separately on your statement and may be treated as its own Balance Category. Eligible Purchase(s) may also be referenced and abbreviated as “Elig Purch” in some locations in the Schedule.

  • or "Advances means a cash advance or cash advances under the Revolving Facility.

  • 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.

  • Applicable Advance Rate For each Collateral Obligation and for the applicable number of Business Days between the certification date for a sale or participation required by Section 9.4 and the expected date of such sale or participation, the percentage specified below: Senior Secured Loans with a Market Value of: 90% or more of par 100 % 93 % 92 % 88 % Below 90% of par 100 % 80 % 73 % 60 % Other Collateral Obligations with a Xxxxx’x Rating of at least “B3” and a Market Value of 90% or more of par 100 % 89 % 85 % 75 % All other Collateral Obligations 100 % 75 % 65 % 45 %

  • 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.

  • 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.

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