Protective Advance Rate definition
Examples of Protective Advance Rate in a sentence
Any Super-Priority Protective Advance under this clause (b) shall accrue Protective Advance Interest at the Protective Advance Rate applicable to the Note under which such Super-Protective Advance would have been funded, had it not been the result of a Non-Funded Protective Advance and shall be repaid in the order of priority set forth in Section 4.2 hereof.
If Participant fails to remit to Lender is pro rata share of such Costs within twenty (20) days after demand therefor, Participant shall be obligated to pay such amount together with interest thereon at the Priority Protective Advance Rate from the date that such reimbursement request was made through and including the date of payment thereof to Lender in immediately available funds.
Mortgagor will repay on demand all sums so advanced on its behalf together with interest thereon at the Protective Advance Rate.
In connection with its recovery of any Protective Advance from the Certificate Account pursuant to Section 3.05(a), each of the Master Servicer, the Special Servicer and the Trustee shall be entitled to receive, out of any amounts then on deposit in the Certificate Account, any unpaid interest at the Protective Advance Rate in effect from time to time, compounded annually, accrued on the amount of such Protective Advance from the date made to but not including the date of reimbursement.