T&I Advance. An advance by the Servicer of any taxes and insurance premiums due with respect to any Mortgage Loan.
T&I Advance means an advance made by the Borrower as servicer with respect to a Mortgage Loan pursuant to the servicer’s obligation to do so under any Servicing Contract of real estate taxes and assessments, or of hazard, flood or primary mortgage insurance premiums, required to be paid by the related Mortgagor under the terms of the related Mortgage Loan.
T&I Advance means a cash advance that is both (1) made by a Company pursuant to its contractual obligation or right under the relevant Servicing Agreement to make such advance to pay taxes, assessment or maintenance fees or maintain hazard and flood insurance on the real estate securing Serviced Loans and (2) believed by such Company to be fully recoverable by such Company out of sums that are both required and expected to be paid to such Company in the ordinary course of its servicing of the Serviced Loans under such Servicing Agreement, on a first priority of (reimbursement) payment basis (i.e., before any payment from or on account of those sums to or for the account of the holder(s) of the relevant Structured Securities or whole Serviced Loans or to any other Person).
Examples of T&I Advance in a sentence
The Servicer is required to make a T&I Advance with respect to a Mortgage Loan unless such T&I Advance is reasonably determined by the Servicer to be eventually non-recoverable from any Insurance Proceeds, Liquidation Proceeds, or the Borrower.
Notwithstanding the foregoing, Borrower shall not be permitted to request nor receive a Permissible TI Advance with respect to the Vet Upgrade (as defined in Section 1.5 of Exhibit D to that certain Shopping Center Lease Agreement, between Borrower and PetSmart, Inc., a Delaware corporation).
If a Mortgagor fails to make such payments in a timely manner, the Servicer shall make a T&I Advance in the amount of such delinquent payments pursuant to Section 4.03(a) above.
Borrower shall make each request for disbursement of a TI Advance at least 10 days before the end of each calendar month.
Provided that Landlord has approved, in its sole discretion, the Tenant Improvements and the Tenant Improvement Costs, Landlord shall advance ("Additional TI Advance") fifty percent (50%) of the amount that the Tenant Improvements Costs exceed the Tenant Improvement Allowance.
More Definitions of T&I Advance
T&I Advance means a cash advance that is both (1) made by the Company pursuant to the Company's contractual obligation or right under the relevant Servicing Agreement to make such advance to pay taxes, assessment or maintenance fees or maintain hazard and flood insurance on the real estate securing Serviced Loans and (2) fully recoverable by the Company out of sums that are both required and expected to be paid to the Company in the ordinary course of its servicing of the Serviced Loans under such Servicing Agreement, on a first priority of (reimbursement) payment basis (i.e., before any payment from or on account of those sums to or for the account of the holder(s) of the relevant Structured Securities or whole Serviced Loans or to any other Person).
T&I Advance. With respect to any Mortgage Loan, the advance by the Subservicer of its own funds to pay Escrow Payments.
T&I Advance means an advance made by the Company (which advance has not been repaid or reimbursed to the Company), of tax and insurance escrow amounts required to be, but not, paid by the mortgagor under a Mortgage Loan serviced by the Company, which advance is made by the Company pursuant to the Company's obligation to do so under a Servicing Contract and which is eligible for reimbursement by the FHA, the VA, or the applicable investor or out of the first proceeds of foreclosure.
T&I Advance means a cash advance made by Borrower pursuant to its contractual obligation or right under a Servicing Agreement with Xxxxxx Mae to make such advance to pay taxes, assessments or maintenance fees or maintain hazard and flood insurance on the real estate securing Serviced Xxxxxx Xxx Loans which such cash advance is fully recoverable by Borrower from Serviced Xxxxxx Mae Loan recoveries paid to Borrower on either a first priority of (reimbursement) payment basis (i.e., before any payment from or on account of those sums to or for the account of holder(s) of the relevant MBS or whole Serviced Loans or to or for the account of any other Person).
T&I Advance means any servicing or protective advances made by either Borrower under a Servicing Contract (other than an Enforcement Advance) (a) including, but not limited to, advances made to pay taxes and insurance premiums or otherwise fund escrow accounts and (b) which is fully recoverable by either Borrower out of sums that are both required and expected to be paid to either Borrower in the ordinary course of its servicing of the Serviced Loans under such Servicing Contract, on a first priority of (reimbursement) payment basis and on a pool level basis.
T&I Advance has the meaning given to such term in the Senior Secured Credit Facility as in effect on the Issue Date. UCC means the Uniform Commercial Code as in effect from time to time in the State of New York; provided that, as used in Section 11 hereof, “UCC” shall mean the Uniform Commercial Code as in effect from time to time in any applicable jurisdiction. UK Note means the notes issued to the Company from time to time by the UK SPE pursuant to the Note Issuance Facility Deed (there being only one note outstanding at any time). UK Note Related Security means all Liens created in favor of the English Security Trustee by the UK SPE in connection with the issuance of the UK Note. UK Pledged Shares means the UK Pledged Shares in each UK Pledged Shares Company which are held by Residential Funding Company, LLC and represented by the certificates listed in Item C of Attachment I hereto and which represent 65% of the UK Pledged Shares held by Residential Funding Company, LLC in the relevant UK Pledged Shares Company together with all other shares and other assets, including any moneys and other Derivative Rights (as defined in the English Security Documents) from time to time charged to the Second Priority Collateral Agent. UK Pledged Shares Companies means: (a) GMAC-RFC Holdings Limited, a company incorporated in England and Wales (registered number 03471082) whose registered office is at Xxxxxxx Xxxx, Xxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxx XX00 0XX (“GMAC Holdings”); (b) GMAC-RFC Europe Limited, a company incorporated in England and Wales (registered number 03987700) whose registered office is at Xxxxxxx Xxxx, Xxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxx XX00 0XX; (“GMAC Europe”); and (c) RFC Investments Limited, a company incorporated in England and Wales (registered number 03488658) whose registered address is at Xxxxxxx Xxxx, Xxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxxx XX00 0XX (“RFC Investments”), and UK Pledged Shares Company means any of them. UK Second Priority Deed of Assignment means that certain Second Priority Deed of Assignment dated June 6, 2008 and entered into by and between the Company as Chargor and the Second Priority Collateral Agent. UK SPE means Viaduct (No. 7) Limited.
T&I Advance a loan made by a Working Capital Lender pursuant to Section 2.03 for the purpose of funding a T&I Payment.