PAYMENTS TO MASTER SERVICER. Section 4.01 Remittances. On each Remittance Date, no later than 3:00 p.m. New York City time, the Servicer shall remit on a scheduled/scheduled basis by wire transfer of immediately available funds to the Master Servicer (a) all amounts deposited in the Custodial Account as of the close of business on the Determination Date (net of charges against or withdrawals from the Custodial Account pursuant to Section 3.04), plus (b) all Monthly Advances, if any, which the Servicer or other Advancing Person is obligated to make pursuant to Section 4.03, minus (c) any amounts attributable to Principal Prepayments, Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds or REO Disposition Proceeds received after the applicable Due Period, which amounts shall be remitted on the following Remittance Date, together with any additional interest required to be deposited in the Custodial Account in connection with such Principal Prepayment in accordance with Section 3.03 (iii) and (vii), and minus (d) any amounts attributable to Monthly Payments collected but due on a Due Date or Due Dates subsequent to the first day of the month in which such Remittance Date occurs, which amounts shall be remitted on the Remittance Date next succeeding the Due Date related to such Monthly Payment. With respect to any remittance received by the Master Servicer after the Business Day on which such payment was due, the Servicer shall pay to the Master Servicer interest on any such late payment at an annual rate equal to LIBOR, adjusted as of the date of each change, plus four (4) percentage points, but in no event greater than the maximum amount permitted by applicable law. Such interest shall be deposited in the Custodial Account by the Servicer on the date such late payment is made and shall cover the period commencing with the day following the Remittance Date and ending with the Business Day on which such payment is made, both inclusive. Such interest shall be remitted along with the distribution payable on the next succeeding Remittance Date. The payment by the Servicer of any such interest shall not be deemed an extension of time for payment or a waiver of any Event of Default by the Master Servicer or any applicable Trustee. All remittances required to be made to the Master Servicer shall be made on a scheduled/scheduled basis to the following wire account or to such other account as may be specified by the Master Servicer from time to time: Xxxxx Fargo Bank, National Associat...
PAYMENTS TO MASTER SERVICER. Section 4.01 Remittances. Section 4.02 Statements to Master Servicer. 29 Section 4.03 Monthly Advances by Servicer. 30
PAYMENTS TO MASTER SERVICER. Section 4.01. Remittances.
PAYMENTS TO MASTER SERVICER. 28 Section 4.01 Remittances...............................................................................28 Section 4.02 Statements to Master Servicer.............................................................29 Section 4.03 Monthly Advances by Servicer..............................................................30
PAYMENTS TO MASTER SERVICER. Section 4.01. Remittances. Section 4.02. Monthly Advances by Servicer. 33 Section 4.03. Due Dates Other Than the First of the Month. 33
PAYMENTS TO MASTER SERVICER. Section 4.01. Remittances. Section 4.02. Statements to Master Servicer. Monthly Advances by Servicer. 32 Section 4.04. Compensating Interest. 32 Section 4.05. Credit Reporting.
PAYMENTS TO MASTER SERVICER. Section 4.01. Remittances. Section 4.02. Statements to Seller. 36 Section 4.03. Monthly Advances by Servicer. 38 Section 4.04. Due Dates Other Than the First of the Month. 38 Section 4.05. Credit Reporting. 38
PAYMENTS TO MASTER SERVICER. 26 Section 4.01 Remittances ..................................................26 Section 4.02 Statements to Master Servicer ................................26 Section 4.03 Monthly Advances by Servicer .................................27 ARTICLE V. GENERAL SERVICING PROCEDURES 28 Section 5.01 Servicing Compensation 28 Section 5.02 Annual Audit Report 28 Section 5.03 Annual Officer's Certificate 29 Section 5.04 Transfers of Mortgaged Property 29
PAYMENTS TO MASTER SERVICER. Section 4.01 Remittances. 29 Section 4.02 Statements to Master Servicer. 30 Section 4.03 Monthly Advances by Servicer. 32 ARTICLE V. GENERAL SERVICING PROCEDURES Section 5.01 Servicing Compensation. 32 Section 5.02 Report on Attestation of Compliance with Applicable Servicing Criteria. 33 Section 5.03 Annual Officer’s Certificate. 33 Section 5.04 Report on Assessment of Compliance with Applicable Servicing Criteria. 34 Section 5.05 Transfers of Mortgaged Property. 34
PAYMENTS TO MASTER SERVICER
