Common use of Advances by the Master Servicer Clause in Contracts

Advances by the Master Servicer. (a) Not later than the close of business on the _______ Business Day preceding each Distribution Date, the Master Servicer shall remit to the Trustee for deposit in the Collection Account an amount, to be distributed on the related Distribution Date pursuant to Section 4.5(d), equal to the sum of (a) the interest accrued on each Mortgage Loan at the Mortgage Rate (or at such lower rate as may be in effect for such Mortgage Loan pursuant to application of the Civil Relief Act and/or any Debt Service Reduction) through the related Due Date, but not received as of the close of business on the Determination Date for such Distribution Date (net of the Servicing Fee) and (b) with respect to each REO Property which was acquired during or prior to the related Due Period and as to which a final disposition did not occur during the related Due Period, an amount equal to the excess, if any, of interest on the Principal Balance of such REO Property at the Net Rate for the most recently ended Due Period prior to the related Determination Date for the related Mortgage Loan over the net income from the REO Property transferred to the Collection Account for such Distribution Date pursuant to Section 3.4; such sum being defined herein as the "Monthly Advance." The Master Servicer may fund all or a portion of the Monthly Advance with respect to the Mortgage Loans by instructing the Trustee on such Determination Date to use funds deposited in the Collection Account which are not part of the Total Distribution Amount for the related Distribution Date; provided that if such funds are so used the Master Servicer shall replace such funds on or before any subsequent Determination Date on which such funds are required to be part of the Total Distribution Amount.

Advances by the Master Servicer. (a) Not later than the close of business If, on the _______ Business Day preceding each Distribution any ------------------------------- Determination Date, the Master Servicer shall remit determines that any Monthly Payments due on the immediately preceding Due Date have not been received, the Master Servicer shall, to the Trustee for deposit extent it determines in the Collection Account good faith that such amounts will be recoverable from Late Collections, Liquidation Proceeds or otherwise, make an amount, to be distributed advance on or before the related Distribution Advance Deposit Date pursuant to Section 4.5(d), equal to the sum of (a) the interest accrued on each Mortgage Loan at the Mortgage Rate (or at such lower rate as may be in effect for such Mortgage Loan pursuant to application of the Civil Relief Act and/or any Debt Service Reduction) through the related Due Date, but not received as of the close of business on the Determination Date for such Distribution Date (net of the Servicing Fee) and (b) with respect to each REO Property which was acquired during or prior to the related Due Period and as to which a final disposition did not occur during the related Due Period, an amount equal to the excessamount of such delinquent Monthly Payments, after adjustment of any delinquent interest payment for the Servicing Fee. For purposes of this Section 6.03, the delinquent Monthly Payments referred to in the preceding sentence shall be deemed to include an amount equal to the Monthly Payment that would have been due on the Mortgage Loans which have been foreclosed or otherwise terminated and, in connection therewith, the Master Servicer or the Trust Fund acquired and continues to own the Mortgaged Properties on behalf of the Certificateholders. If the Master Servicer makes an Advance, it shall on or prior to such Advance Deposit Date deposit in the Distribution Account an amount equal to the Advance, if any, of interest . Any such Advance shall be included with the distribution to the Certificateholders on the Principal Balance of such REO Property at related Distribution Date. The Master Servicer shall be entitled to be reimbursed from funds in the Net Rate for the most recently ended Due Period prior to the related Determination Date for the related Mortgage Loan over the net income from the REO Property transferred to the Collection Certificate Account for such Distribution Date pursuant to all Advances and Nonre- coverable Advances as provided in Section 3.4; such sum being defined herein as the "Monthly Advance." 5.09. The Master Servicer may fund all or a portion of the Monthly make an Advance with respect to the Mortgage Loans by instructing the Trustee on such Determination Date to use by: (i) depositing its own funds deposited in the Collection Account which Certificate Account, (ii) applying funds that are not part of the Total Available Distribution Amount in respect of which the Advance is being made or (iii) effecting a combination of clauses (i) and (ii). Any portion of the funds so used pursuant to clause (ii) shall be replaced by the Master Servicer by deposit in the Certificate Account on or before 12:00 noon New York City time on the Business Day preceding any future Distribution Date to the extent that funds that are available in the Certificate Account on such date shall be less than the Available Distribution Amount for the related such Distribution Date; provided that if such funds are so used the Master Servicer shall replace such funds on or before any subsequent Determination Date on which such funds are required to be part of the Total Distribution Amount.

Advances by the Master Servicer. (a) Not later than the close of business on the _______ second Business Day preceding each Distribution Date, the Master Servicer shall remit to the Trustee for deposit in the Collection Account an amount, to be distributed on the related Distribution Date pursuant to Section 4.5(d), equal to the sum of (a) the interest accrued on each Mortgage Home Equity Loan at the Mortgage Rate (or at such lower rate as may be in effect for such Mortgage Home Equity Loan pursuant to application of the Civil Relief Act and/or any Debt Service Reduction) through the related Due Date, but not received as of the close of business on the Determination Date for such Distribution Date (net of the Servicing Fee) and (b) with respect to each REO Property which was acquired during or prior to the related Due Period and as to which a final disposition did not occur during the related Due Period, an amount equal to the excess, if any, of interest on the Principal Balance of such REO Property at the Net Rate for the most recently ended Due Period prior to the related Determination Date for the related Mortgage Home Equity Loan over the net income from the REO Property transferred to the Collection Account for such Distribution Date pursuant to Section 3.4; such sum being defined herein as the "Monthly Advance." The Master Servicer may fund all or a portion of the Monthly Advance with respect to the Mortgage Home Equity Loans by instructing the Trustee on such Determination Date to use funds deposited in the Collection Account which are not part of the Total Distribution Amount for the related Distribution Date; provided that if such funds are so used the Master Servicer shall replace such funds on or before any subsequent Determination Date on which such funds are required to be part of the Total Distribution Amount.

Advances by the Master Servicer. Distribution --------------------------------------------- Reports to the Trustee. ---------------------- (a) Not later than To the extent described below, the Master Servicer is obligated to advance its own funds to the Certificate Account to cover any shortfall between (i) payments scheduled to be received in respect of Mortgage Loans, and (ii) the amounts actually deposited in the Certificate Account on account of such payments; provided that, with respect to any Balloon Loan that is delinquent on its maturity date, the Master Servicer will not be required to advance the related balloon payment but will be required to continue to make advances in accordance with this Section 4.02 with respect to such Balloon Loan in an amount equal to one month's interest on the unpaid principal balance at the applicable Pass-Through Rate for each Distribution Date . The Master Servicer's obligation to make any advance or advances described in this Section 4.02 is effective only to the extent that such advance is, in the good faith judgment of the Master Servicer made on or before the Business Day immediately following the Withdrawal Date, 133 reimbursable from Insurance Proceeds or Liquidation Proceeds of the related Mortgage Loans or recoverable as late Monthly Payments with respect to the related Mortgage Loans or otherwise. Prior to the close of business on the _______ Business Day preceding immediately following each Distribution Withdrawal Date, the Master Servicer shall remit determine whether or not it will make a Monthly P&I Advance on the Business Day prior to the Trustee for deposit next succeeding Distribution Date (in the Collection Account an amountevent that the applicable Servicer fails to make such advances) and shall furnish a statement to the Trustee, the Paying Agent, if any, and to any Certificateholder requesting the same, setting forth the aggregate amount to be distributed on the related next succeeding Distribution Date pursuant to Section 4.5(d), equal to the sum on account of (a) the principal and interest accrued on each Mortgage Loan at in respect of the Mortgage Rate (or at such lower rate as may be Loans, stated separately. In the event that full scheduled amounts of principal and interest in effect for such Mortgage Loan pursuant to application respect of the Civil Relief Act and/or any Debt Service Reduction) through the related Due Date, but Mortgage Loans shall not have been received as by or on behalf of the close Master Servicer prior to such Determination Date and the Master Servicer shall have determined that a Monthly P&I Advance shall be made in accordance with this Section 4.02, the Master Servicer shall so specify and shall specify the aggregate amount of business such advance. In the event that the Master Servicer shall be required to make a Monthly P&I Advance, it shall on the Determination Date for such Distribution Date (net of the Servicing Fee) and (b) with respect to each REO Property which was acquired during or Business Day prior to the related Due Period and as to which a final disposition did not occur during Distribution Date either (i) deposit in the related Due Period, Certificate Account an amount equal to such Monthly P&I Advance, (ii) make an appropriate entry in the excessrecords of the Certificate Account that funds in such account being held for future distribution or withdrawal have been, if anyas permitted by this Section 4.02, used by the Master Servicer to make such Monthly P&I Advance, or (iii) make advances in the form of interest any combination of (i) and (ii) aggregating the amount of such Monthly P&I Advance. Any funds being held for future distribution to Certificateholders and so used shall be replaced by the Master Servicer by deposit in the Certificate Account on the Principal Balance of such REO Property at the Net Rate for the most recently ended Due Period prior Business Day immediately preceding any future Distribution Date to the related Determination Date for extent that funds in the related Mortgage Loan over the net income from the REO Property transferred to the Collection Certificate Account for on such Distribution Date pursuant to Section 3.4; such sum being defined herein as the "Monthly Advance." The Master Servicer may fund all or a portion of the Monthly Advance with respect to the Mortgage Loans by instructing the Trustee shall be less than payments to Certificateholders required to be made on such Determination Date date with respect to use funds deposited the Mortgage Loans. Under each Selling and Servicing Contract, the Master Servicer is entitled to receive from the Custodial Accounts for P&I established by the Servicers amounts received by the applicable Servicers on particular Mortgage Loans as late payments of principal and interest or as Liquidation or Insurance Proceeds and respecting which the Master Servicer has made an unreimbursed advance of principal and interest. The Master Servicer is also entitled to receive other amounts from the related Custodial Accounts for P&I established by the Servicers to reimburse itself for prior Nonrecoverable Advances respecting Mortgage Loans serviced by such Servicers. The Master Servicer shall deposit these amounts in the Collection Investment Account which prior to withdrawal pursuant to Section 3.05. In accordance with Section 3.05, Monthly P&I Advances are not part of reimbursable to the Total Distribution Amount for Master Servicer from cash in the related Distribution Date; provided Investment Account or the Certificate Account to the extent that if such funds are so used the Master Servicer shall replace determine that any such funds on or before any subsequent Determination Date on which such funds advances previously made are required Nonrecoverable Advances pursuant to be part of the Total Distribution AmountSection 4.03.

Advances by the Master Servicer. (a) Not later than the close of business on the _______ [second] Business Day preceding each Distribution Date, the Master Servicer shall remit to the Trustee for deposit in the Collection Account an amount, to be distributed on the related Distribution Date pursuant to Section 4.5(d4.4(d), equal to the sum of (a) the interest accrued on each Mortgage Loan at the Mortgage Rate (or at such lower rate as may be in effect for such Mortgage Loan pursuant to application of the Civil Relief Act and/or any Debt Service Reduction) through the related Due Date, but not received as of the close of business on the Determination Date for such Distribution Date (net of the Servicing Fee) and (b) with respect to each REO Property which was acquired during or prior to the related Due Period and as to which a final disposition did not occur during the related Due Period, an amount equal to the excess, if any, of interest on the Principal Balance of such REO Property at the Net Rate for the most recently ended Due Period prior to the related Determination Date for the related Mortgage Loan over the net income from the REO Property transferred to the Collection Account for such Distribution Date pursuant to Section 3.4; such sum being defined herein as the "“Monthly Advance." ” The Master Servicer may fund all or a portion of the Monthly Advance with respect to the Mortgage Loans by instructing the Trustee on such Determination Date to use funds deposited in the Collection Account which are not part of the Total Distribution Amount for the related Distribution Date; provided that if such funds are so used the Master Servicer shall replace such funds on or before any subsequent Determination Date on which such funds are required to be part of the Total Distribution Amount.