Subservicer Remittance Date definition

Subservicer Remittance Date. The 18th day of each month, or if such day is not a Business Day, the immediately preceding Business Day.
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Subservicer Remittance Date. The Business Day immediately preceding the applicable master servicer’s remittance date under the applicable PSA.
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Subservicer Remittance Date. For each Distribution Date, the Business Day immediately succeeding the related Subservicer Determination Date.
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Examples of Subservicer Remittance Date in a sentence

  • Each month by 2:00 p.m. (New York City time) on the Subservicer Remittance Date, the Subservicer shall deposit into the Servicing Fee Account all amounts constituting Servicing Fees due to KRECM with respect to the related PSA.

  • Any investment of funds held in such an account shall be in Permitted Investments maturing not later than the Business Day immediately preceding the next Subservicer Remittance Date.

  • On the Subservicer Remittance Date immediately following the Prepayment Period in which such sale proceeds are received, the net cash proceeds of such sale remaining in the Custodial Account shall be remitted to the Master Servicer.

  • If such Compensating Interest Payment is not remitted to the Master Servicer by 1:00 p.m. New York City time on the Subservicer Remittance Date, then the Subservicer shall also remit to the Master Servicer the Compensating Interest Payment and full interest on such Compensating Interest Payment at the Reimbursement Rate from and including such Subservicer Remittance Date but excluding the date that such Compensating Interest Payment is received by the Master Servicer.

  • The Subservicer shall furnish to the Master Servicer on or before the Subservicer Remittance Date each month a statement with respect to any REO Property covering the operation of such REO Property for the previous month and the Subservicer’s efforts in connection with the sale of such REO Property and any rental of such REO Property incidental to the sale thereof for the previous month.

  • A “Prepayment Interest Shortfall” as to any Subservicer Remittance Date and each Asset subject to a principal prepayment received during the Prepayment Period with respect to a Asset and any Payment Date is the amount by which one month’s interest at the applicable asset rate on a Asset as to which a voluntary prepayment in full has been made, exceeds the amount of interest payable in connection with such prepayment.

  • In addition, on each Subservicer Remittance Date the Subservicer will be required to remit to the Master Servicer any amounts required to be advanced pursuant to the related Subservicing Agreement.

  • Any amounts held for future remittance and so used shall be replaced by the Subservicer by deposit in the Custodial Account on or before any future Subservicer Remittance Date if funds in the Custodial Account on such Subservicer Remittance Date shall be less than payments to the Master Servicer required to be made on such Subservicer Remittance Date.

  • Any date on which the Servicer is required to remit moneys on deposit in the Servicer Collection Account to the Master Servicer, which shall be the first Business Day after each Subservicer Remittance Date.

  • In addition, on each Subservicer Remittance Date the Subservicer will be required to remit to the Servicer any amounts required to be advanced pursuant to the related Subservicing Agreement.


More Definitions of Subservicer Remittance Date

Subservicer Remittance Date. The Business Day immediately following the Determination Date.
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Subservicer Remittance Date. The second Business Day prior to each Distribution Date.
Sample 1
Subservicer Remittance Date. The day in each calendar month on which the Subservicer is required to remit payments to the Collection Account, which is the 18th day of each calendar month (or, if such 18th day is not a Subservicer Business Day, the next succeeding Subservicer Business Day), commencing in May 2005.
Sample 1
Subservicer Remittance Date. Each date defined in each Servicing Agreement as the Remittance Date, or, if such defined term is not used, each date upon which payment is to be made by Servicer to the other party or parties to the applicable Servicing Agreement or to the Additional Investors.
Sample 1

Related to Subservicer Remittance Date

  • Servicer Remittance Date With respect to any Distribution Date, the 18th day of the calendar month in which such Distribution Date occurs or, if such 18th day is not a Business Day, the Business Day immediately following.

  • Master Servicer Remittance Date With respect to any Distribution Date, the Business Day immediately preceding such Distribution Date.

  • Remittance Date With respect to each Distribution Date, the 18th day (or if such 18th day is not a Business Day, the first Business Day immediately following) of the month in which such Distribution Date occurs.

  • Monthly Remittance Date The 18th day of each month, or if the 18th day is not a Business Day, the preceding Business Day.

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

  • Monthly Servicer Report means a report substantially in the form attached as Exhibit A-1 to the Servicing Agreement or in such other form as shall be agreed between the Servicer (with prior consent of the Back-Up Servicer) and the Trustee; provided, however, that no such other agreed form shall serve to exclude information expressly required by this Base Indenture or any Series Supplement.

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "Xxxxx Fargo Bank, N.A. as Master Servicer for HSBC Bank USA, National Association, as Trustee f/b/o holders of Xxxxxxx Xxxxx Mortgage Investors, Inc., Mortgage Pass-Through Certificates, MANA Series 2007-OAR4 - Master Servicer Collection Account." The Master Servicer Collection Account shall be an Eligible Account.

  • First Remittance Date With respect to each Mortgage Loan Package, the 18th day (or if such 18th day is not a Business Day, the first Business Day immediately preceding such 18th day) of the calendar month immediately following the Closing Date; provided, however, if the Servicing Transfer Date is not one (1) or more Business Days prior to the first day of such calendar month, such date will be the 18th day (or if such 18th day is not a Business Day, the first Business Day immediately preceding such 18th day) of the next succeeding calendar month.

  • Monthly P&I Advance An advance of funds by the Master Servicer pursuant to Section 4.02 or a Servicer pursuant to its Selling and Servicing Contract to cover delinquent principal and interest installments.

  • Monthly Servicing Report shall have the meaning attributed to such term in the Servicing Agreement.

  • Mortgage Loan Remittance Rate With respect to each Mortgage Loan, the annual rate of interest remitted to the Purchaser, which shall be equal to the Mortgage Interest Rate minus the Servicing Fee Rate.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Sub-Servicing Account An account established by a Sub-Servicer which meets the requirements set forth in Section 3.08 and is otherwise acceptable to the Master Servicer.

  • Master Servicing Fee As to any Distribution Date, an amount equal to one-twelfth the product of (a) the Master Servicing Fee Rate and (b) the outstanding principal balance of each Mortgage Loan. Master Servicing Fee Rate: 0.00% per annum.

  • Interest Remittance Amount With respect to any Mortgage Pool and Distribution Date, (a) the sum of (1) all interest collected (other than in connection with Payaheads and Prepayment Premiums) or advanced in respect of Scheduled Payments in such Mortgage Pool during the related Collection Period by the Servicers, the Master Servicer, or the Trustee (solely acting in its capacity as successor Master Servicer), minus (x) the Servicing Fee with respect to the Mortgage Loans and (y) previously unreimbursed Advances and other amounts due to the Servicers, the Master Servicer or the Trustee (solely acting in its capacity as successor Master Servicer) to the extent allocable to interest and the allocable portion of previously unreimbursed Servicing Advances with respect to the Mortgage Loans, (2) any Compensating Interest Payments with respect to the Mortgage Loans in such Mortgage Pool with respect to the related Prepayment Period (or in the case of Mortgage Loans serviced by Aurora, the relevant Collection Period), (3) the portion of any Purchase Price, as applicable, or Substitution Amount paid with respect the Mortgage Loans in such Mortgage Pool during the related Prepayment Period (or in the case of Mortgage Loans serviced by Aurora, the relevant Collection Period) allocable to interest, and (4) all Net Liquidation Proceeds, Insurance Proceeds and any other recoveries collected with respect to the Mortgage Loans during the related Prepayment Period (or in the case of Mortgage Loans serviced by Aurora, the relevant Collection Period), to the extent allocable to interest, as reduced by (b) other costs, expenses or liabilities reimbursable to the Trustee, the Master Servicer or each Servicer to the extent provided in this Agreement and each Servicing Agreement, and the Custodian pursuant to the Custodial Agreement; provided, however, that in the case of the Trustee, such reimbursable amounts may not exceed $500,000 during any Anniversary Year up to and including the Anniversary Year in which the Stepdown Date occurs and $200,000 during any Anniversary Year thereafter (the “Applicable Maximum Reimbursement Amount”). In the event that the Trustee incurs reimbursable amounts in excess of the Applicable Maximum Reimbursement Amount in any Anniversary Year, it may obtain reimbursement for such amounts in subsequent Anniversary Years, but in no event shall more than the Applicable Maximum Reimbursement Amount in aggregate be reimbursed to the Trustee per Anniversary Year. Notwithstanding the foregoing, costs and expenses incurred by the Trustee pursuant to Section 6.14(a) in connection with any transfer of servicing shall be excluded in determining the Applicable Maximum Reimbursement Amount limitation on reimbursable amounts per Anniversary Year. For the avoidance of doubt, (i) the Interest Remittance Amount available on each Swap Payment Date for distributions to the Supplemental Interest Trust Account shall be equal to the Interest Remittance Amount on the related Distribution Date and (ii) the Interest Remittance Amount for each Distribution Date shall be calculated without regard to any distributions to the Supplemental Interest Trust Account on the related Swap Payment Date.