Seller Advance definition

Seller Advance means an advance made by a Seller to a Borrower pursuant to clause 16.20(c) or clause 16.21(c) on or after the Cut-Off Date which appears in the records of the Servicer or on the Security Register as secured by a Mortgage which also secures a Mortgage Loan, and a reference to "SELLER ADVANCES" is a reference to all Seller Advances made by either Seller.
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Seller Advance means an advance made by a Seller to a Borrower pursuant to clause 16.20(c) or clause 16.21(c) on or after the Cut-Off Date which appears in the records of the Servicer or on the Security Register as secured by a Mortgage which also secures a Mortgage Loan, and a reference to "Seller Advances" is a reference to all Seller Advances made by either Seller.
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Seller Advance means an advance made by the Seller to a Borrower pursuant to clause
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Examples of Seller Advance in a sentence

  • If a Perfection of Title Event occurs the Servicer must take all necessary steps in order to vary each loan agreement in relation to a Housing Loan forming part of the Assets of the Series Trust (where this is required) such that the Seller may refuse to provide any Seller Advance to the Mortgagor in relation to the Housing Loan.

  • With respect to the Days Inn Surfside Loan and the first Distribution Date, the Seller shall be deemed to have advanced during the first Collection Period $52,918 in respect of such Mortgage Loan (the "Deemed Seller Advance").

  • Seller, Advance and the Investors have agreed to amend and restate the Stockholders Agreement of Advance dated as of April 15, 1998 (the "Stockholders Agreement") regarding certain rights of the parties post Closing, ----------------------- including certain rights with respect to the registration of the Merger Shares acquired by Seller hereby substantially in the form of Exhibit A.

  • If Purchaser delivers such notice, not later than five (5) Business Days thereafter, Seller shall notify Purchaser in writing whether Purchaser shall be required to consummate the transactions at the Closing using (x) the Third Party Advance Facility and the Partial Seller Advance Facility or (y) the Full Seller Advance Facility.

  • Each of Purchaser and Seller shall cooperate so as to cause the Company, concurrently with the Closing, to immediately use such capital contribution and such proceeds to repay in full the amount outstanding under the Existing Seller Advance Facility Agreement and to repay the Closing GS Interco Payable.

  • For purposes of this Section 9.1, the addresses of the parties for all notices are as follows (unless changed by similar notice in writing given by the particular party whose address is to be changed): If to Seller: Advance Self Storage, LLC 00000 Xxx Xxxxx Xx., #0000 Xxxxxx, XX 00000 Attn: Xxxxx X.

  • Without limiting the generality of the foregoing, no Purchaser Indemnified Party (including the Company or any of its Subsidiaries) shall have the right to set off an indemnification claim pursuant to this Article XII against any amount due pursuant to the Full Seller Advance Facility or Partial Seller Advance Facility.

  • Each Other Second Lien Lender severally agrees, on the terms and conditions hereinafter set forth, to make a single advance (which shall constitute a Term C Advance and together with each Seller Advance, collectively, an “Advance”) to the Borrower on the Effective Date in an amount not to exceed such Other Second Lien Lender’s Commitment at such time.

  • If Seller fails to deliver such notice or otherwise rejects the Final Third Party Advance Facility Terms, it shall be deemed to have elected to cause Purchaser to consummate the transactions at the Closing using the Full Seller Advance Facility (and to have instructed Purchaser not to continue pursuing the Third Party Advance facility for a post-Closing execution as described in Section 7.06(d)).

  • In furtherance of and not in limitation of the foregoing, each of Seller and Purchaser agrees to make or cause to be made an appropriate filing of any Notification and Report Form required pursuant to the HSR Act and to negotiate as promptly as practicable definitive documents reflecting the terms of the Partial Seller Advance Facility (as set forth in Exhibit B) and the Full Seller Advance Facility (as set forth in Exhibit B).


More Definitions of Seller Advance

Seller Advance has the meaning specified in Section 2.01.
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Seller Advance means, in relation to a Series 2 Participating Asset (where applicable), an amount equal to the first Series 2 Participating Asset Payment payable under that Series 2 Participating Asset as at the Applicable Payment Date multiplied by 2 (two);
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Seller Advance means an advance made by the Seller to a Borrower pursuant to Clause 16.20(c) or clause 16.21(c) on or after the Cut-Off Date which appears in the records of the Servicer or on the Security Register as secured by a Mortgage which also secures a Mortgage Loan.
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Related to Seller Advance

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

  • SOFR Advance means any Loan which, except as otherwise provided in Section 2.10, bears interest at a rate based on Adjusted Term SOFR (other than a Floating Rate Advance as to which the interest rate is determined with reference to Adjusted Term SOFR or a SOFR Market Index Rate Advance).

  • 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.

  • Servicer Advance Date As to any Distribution Date, 11:30 a.m., Eastern time, on the Business Day immediately preceding such Distribution Date.

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

  • Master Servicer Advance Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Property Advance means an advance made in respect of property protection expenses or expenses incurred to protect, preserve and enforce the security for the Mortgage Loan or to pay taxes and assessments or insurance premiums with respect to the Mortgaged Property.

  • Loan Advance The meaning specified in Section 2.2(a).

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

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

  • P&I Advance Date The Business Day immediately prior to each Distribution Date.

  • 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.

  • Provider Advance means a Downgrade Advance or a Non-Extension Advance.

  • P&I Advance means an advance made by a party to any Securitization Servicing Agreement in respect of a delinquent monthly debt service payment on the Note(s) securitized pursuant to such Securitization Servicing Agreement.

  • Final Advance means an Advance made pursuant to Section 2.02(d).

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

  • Term SOFR Advance means an Advance that bears interest at a rate based on clause (a) of the definition of Term SOFR.

  • Equipment Advance is defined in Section 2.1.1.

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Nonrecoverable Servicing Advance Any Servicing Advance previously made or proposed to be made in respect of a Mortgage Loan or REO Property that, in the good faith business judgment of the Master Servicer, will not or, in the case of a proposed Servicing Advance, would not be ultimately recoverable from related Late Collections, Insurance Proceeds or Liquidation Proceeds on such Mortgage Loan or REO Property as provided herein.

  • Tax Advance has the meaning set forth in Section 6.02(a).

  • Further Advance means, in relation to a Loan, any advance of further money to the relevant Borrower following the making of the Initial Advance, which is secured by the same Mortgage as the Initial Advance, excluding the amount of any retention in respect of the Initial Advance;

  • Nonrecoverable Monthly Advance Any Monthly Advance previously made or proposed to be made in respect of a Mortgage Loan or REO Property that, in the good faith business judgment of the Seller, will not, or, in the case of a proposed Monthly Advance, would not be, ultimately recoverable from related late payments, Insurance Proceeds or Liquidation Proceeds on such Mortgage Loan or REO Property as provided herein.

  • Periodic Advance The aggregate of the advances required to be made by a Servicer on any Distribution Date pursuant to its Servicing Agreement or by the Master Servicer or the Trustee hereunder, the amount of any such advances being equal to the total of all Monthly Payments (adjusted, in each case (i) in respect of interest, to the applicable Mortgage Interest Rate less the applicable Servicing Fee in the case of Periodic Advances made by a Servicer and to the applicable Net Mortgage Interest Rate in the case of Periodic Advances made by the Master Servicer or Trustee and (ii) by the amount of any related Debt Service Reductions or reductions in the amount of interest collectable from the Mortgagor pursuant to the Soldiers' and Sailors' Civil Relief Act of 1940, as amended, or similar legislation or regulations then in effect) on the Mortgage Loans, that (x) were delinquent as of the close of business on the related Determination Date, (y) were not the subject of a previous Periodic Advance by such Servicer or of a Periodic Advance by the Master Servicer or the Trustee, as the case may be and (z) have not been determined by the Master Servicer, such Servicer or Trustee to be Nonrecoverable Advances.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Non-Recoverable Servicing Advance Any portion of a Servicing Advance previously made or proposed to be made by the Servicer that, in the good faith judgment of the Servicer, will not or, in the case of a current Servicing Advance, would not, be ultimately recoverable by the Servicer from the related Mortgagor, related Liquidation Proceeds or otherwise with respect to the related Mortgage Loan.