Common use of Advancement of Funds Clause in Contracts

Advancement of Funds. The Seller has not advanced funds or induced, solicited or knowingly received any advance of funds from a party other than the owner of the related Mortgaged Property or the related Borrower (other than amounts paid by the tenant as specifically provided under related lease or by a property manager), for the payment of any amount required by such Mortgage Loan, except for interest accruing from the date of origination of such Mortgage Loan or the date of disbursement of the Mortgage Loan proceeds, whichever is later, to the date which preceded by 30 days the first due date under the related Mortgage Note.

Appears in 3 contracts

Samples: Mortgage Loan Purchase Agreement (Salomon Brothers Mortgage Securities Vii Inc), Mortgage Loan Purchase Agreement (Salomon Brothers Mortgage Securities Vii Inc), Mortgage Loan Purchase Agreement (Salomon Brothers Mortgage Securities Vii Inc)

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Advancement of Funds. The Seller No holder of a Mortgage Loan has not advanced funds or induced, solicited or knowingly received any advance of funds from a party other than the owner of the related Mortgaged Property or the related Borrower (other than amounts paid by the tenant as specifically provided under a related lease lease), directly or by a property manager)indirectly, for the payment of any amount required by such Mortgage Loan, except for interest accruing from the date of origination of such Mortgage Loan or the date of disbursement of the Mortgage Loan proceeds, whichever is later, to the date which preceded by 30 days the first due date under the related Mortgage Note.

Appears in 2 contracts

Samples: Mortgage Loan Purchase Agreement (Credit Suisse First Boston Mortgage Securities Corp), Mortgage Loan Purchase Agreement (Credit Suisse First Boston Mortgage Securities Corp)

Advancement of Funds. The Seller has not advanced funds or induced, solicited or knowingly received any advance of funds from a party other than the owner of the related Mortgaged Property or the related Borrower (other than amounts paid by the tenant as specifically provided under related lease or by a property manager), for the payment of any amount required by such the Mortgage Loan, except for interest accruing from the date of origination of such the Mortgage Loan or the date of disbursement of the Mortgage Loan proceeds, whichever is later, to the date which preceded by 30 days the first due date under the related Mortgage Note.

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (Salomon Brothers Mortgage Securities Vii Inc)

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Advancement of Funds. The Seller and to the Seller's knowledge any prior holder has not advanced funds or induced, solicited or knowingly received any advance of funds from a party other than the owner of the related Mortgaged Property or the related Borrower (other than amounts paid by the tenant as specifically provided under the related lease or by a property managerlease), for the payment of any amount required by such Mortgage Loan, except for interest accruing from the date of origination of such Mortgage Loan or the date of disbursement of the Mortgage Loan proceeds, whichever is later, to the date which preceded by 30 days the first due date under the related Mortgage Note.

Appears in 1 contract

Samples: Mortgage Loan Purchase and Sale Agreement (Banc of America Commercial Mortgage Inc., Series 2008-Ls1)

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