Advances by the Servicer. If, on any Determination Date, the Servicer determines that any Monthly Payments due on the immediately preceding Due Date have not been received, the Servicer shall, unless it determines in its sole discretion that such amounts will not be recoverable from Late Collections, Liquidation Proceeds or otherwise, make an Advance on or before the related Distribution Date in an amount equal to the amount 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 Payments that would have been due on Mortgage Loans which have been foreclosed or otherwise terminated and in connection with which the Servicer acquired and continues to own the Mortgaged Properties on behalf of the Certificateholders. If the Servicer makes an Advance, it shall on or prior to such Distribution Date either (i) deposit in the Collection Account an amount equal to such Advance, (ii) cause to be made an appropriate entry in the records of the Collection Account that funds in such account being held for future distribution or withdrawal have been, as permitted by this Section 6.03, used by the Servicer to make such Advance or (iii) make Advances in the form of any combination of clauses (i) and (ii) aggregating the amount of such Advance. Any funds being held in the Collection Account for future distribution to Certificateholders and so used pursuant to clause (ii) or (iii) above shall be replaced by the Servicer from its own funds by deposit into the Collection Account on or before any subsequent Distribution Date to the extent that funds in the Collection Account on such Distribution Date shall be less than the amount of payments required to be made to Certificateholders on such Distribution Date. Any such Advance shall be included with the distribution to the Certificateholders on the related Distribution Date. If the Servicer determines not to make a Nonrecoverable Advance, it shall on the related Determination Date furnish to the Trustee, any co-trustee, and each Rating Agency notice of such determination. The Servicer shall be entitled to be reimbursed from the Collection Account for all Advances and Nonrecoverable Advances as provided in Section 5.09.
Advances by the Servicer. By the close of business on the day required by Section 5.01 hereof, the Servicer may, in its sole discretion, deposit into the Collection Account, out of its own funds, an Advance; provided, however, that the Servicer shall not make any Advances with respect to Defaulted Receivables. The Servicer shall not charge interest on amounts so advanced.
Advances by the Servicer. (a) By the close of business on the Determination Date, the Servicer shall deposit into the Collection Account, out of its own funds, the related Advance: provided, however, that if such Advance involves an Obligor who is covered by the Servicemembers Civil Relief Act, the Servicer shall not be required to make an Advance.
Advances by the Servicer. The Servicer will make an advance for each Active Lease other than an Advance Payment Plan Lease and each Collection Period if, for such Lease and such Collection Period, the scheduled Base Payment exceeds the sum of (A) Active Lease Proceeds (which may be positive or negative) plus (B) the Payahead Draw, by depositing the amount of such excess (equal to the Active Lease Advance) into the Exchange Note Collection Account on the Business Day preceding the Payment Date immediately following such Collection Period or, with satisfaction of the Rating Agency Condition, on such Payment Date. However, the Servicer will be required to make Active Lease Advances only to the extent that the Servicer, in its sole discretion, determines that such advances will be recoverable from subsequent 2013-A Collections (whether relating to such Lease and Leased Vehicle or any other Lease or Leased Vehicle) in the manner described in Section 4.3(b).
Advances by the Servicer. By the close of business on the Business Day preceding a Payment Date, the Servicer may, in its sole discretion, deposit into the Collection Account, out of its own funds, an Advance; provided, however, that the Servicer shall not make any Advances with respect to Defaulted Receivables. The Servicer shall not charge interest on amounts so advanced. The Servicer shall be reimbursed for any Advance on the Payment Date immediately following the Collection Period in which the related Receivable has been charged off in full by the Servicer; provided, however, that the Servicer may elect, in its sole discretion, to be reimbursed for any unreimbursed Advance made in respect of a Receivable at an earlier date pursuant to Section 5.05 hereof or Section 5.04 of the Indenture, as applicable or, from the following sources with respect to such Receivable: (i) subsequent payments made by or on behalf of the related Obligor, (ii) Liquidation Proceeds or (iii) Recoveries.
Advances by the Servicer. (a) Not later than 1:00 p.m. New York time on the Deposit Date related to each Payment Date, the Servicer shall remit to the Securities Administrator for deposit in the Payment Account an amount to be paid on the related Payment Date pursuant to Section 3.05 of the Indenture, equal to the Monthly Payment due on each Mortgage Loan during the related Due Period, but not received as of the related Determination Date (net of the Servicing Fee) such amount being defined herein as the “Monthly Advance.” With respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will continue to make Monthly Advances with respect to such Balloon Loan in an amount equal to one month’s interest on the unpaid principal balance at the applicable Loan Rate (net of the Servicing Fee) according to the original amortization schedule for such Mortgage Loan. The obligation to make Monthly Advances with respect to each Mortgage Loan shall continue until such Mortgage Loan becomes a Liquidated Mortgage Loan.
Advances by the Servicer. Not later than the close of business on each Determination Date, the Servicer, may in its sole discretion, if it determines such amount is recoverable, remit to the Trustee for deposit in the Certificate Account an amount (as indicated in the Servicer's Certificate prepared pursuant to Section 6.09), to be distributed on the related Remittance Date pursuant to Section 6.07, equal to the amount by which (i) 30 days' interest at a rate equal to the then applicable Adjusted SBA Loan Benchmark Rate on the aggregate Class A, Class M and Class B Principal Balances immediately prior to the related Remittance Date (plus or minus the difference, if any, between (A) the sum of the Class A, Class M and Class B Interest Distribution Amounts and (B) the sum of the Adjusted Class A, Adjusted Class M and Adjusted Class B Interest Distribution Amounts for the related Remittance Date) exceeds (ii) the amount received by the Servicer as of the related Record Date in respect of interest on the SBA Loans minus the interest payable to the Registered Holders, the Premium Protection Fee, the Additional Fee, the Servicing Fee and the FTA's Fee (plus, for the Remittance Dates in April, May and June 2000, the sum of (i) all funds to be transferred to the Certificate Account from the Capitalized Interest Account for such Remittance Date pursuant to Section 6.04(g) and (ii) the Pre-Funding Earnings for the applicable Remittance Date), such excess being defined herein as the "Monthly Advance." The Servicer may reimburse itself for Monthly Advances made pursuant to Section 5.04. Notwithstanding the foregoing, the Servicer shall not be required to make a Monthly Advance with respect to an SBA Loan if it determines, in good faith, that such advance would be nonrecoverable from amounts received in respect of the SBA Loans.
Advances by the Servicer. (a) If, as of the end of any Collection Period, the payments received during such Collection Period by or on behalf of an Obligor in respect of a Receivable (other than a Purchased Receivable) shall be less than the related monthly payment, whether as a result of any extension granted to the Obligor or otherwise, then, at the option of the Servicer, an amount equal to the product of the Principal Balance of such Receivable as of the first day of the related Collection Period and one-twelfth of its APR minus the amount of interest actually received on such Receivable during such Collection Period (each, an “Advance”) may be deposited by the Servicer into the Collection Account on the related Payment Date. If such a calculation in respect of a Receivable results in a negative number, an amount equal to such negative amount shall be paid to the Servicer in reimbursement of any outstanding Advances. In addition, in the event that a Receivable becomes a Defaulted Receivable, the amount of accrued and unpaid interest thereon (but not including interest for the current Collection Period) shall, up to the amount of outstanding Advances, be withdrawn from the Collection Account and paid to the Servicer in reimbursement of such outstanding Advances. No Advances will be made with respect to the Principal Balance of Receivables. The Servicer shall not be required to make an Advance to the extent that the Servicer, in its sole discretion, shall determine that such Advance is likely to become a Nonrecoverable Advance.
Advances by the Servicer. (a) Subject to the Servicer determining, in its good faith judgment, that an Advance would not represent a Nonrecoverable Advance, by the close of business on the Business Day preceding each Payment Date, the Servicer shall make an Advance, out of its own funds or from amounts held for future distributions, by deposit into the Collection Account, in an amount equal to the aggregate of all scheduled payments of interest on the Receivables which were due during the immediately preceding Collection Period that remained unpaid at the end of such Collection Period or were not otherwise due during such Collection Period because the payment was deferred by the Servicer.
Advances by the Servicer. (a) Not later than 1:00 p.m. New York time on the Deposit Date related to each Distribution Date, the Servicer shall remit to the Trustee for deposit in the Distribution Account an amount to be distributed on the related Distribution Date pursuant to Section 5.01, equal to the Monthly Payment due on each Mortgage Loan during the related Due Period, but not received as of the related Determination Date (net of the Servicing Fee) such amount being defined herein as the "Monthly Advance"; provided, however that if the amount of Available Funds withdrawn from the Collection Account on the third Business Day before such Distribution Date is less than the Guaranteed Distributions for such Distribution Date, on such third Business Day the Servicer shall remit to the Trustee for deposit in the Distribution Account such portion of the aggregate Monthly Advance for the Distribution Date as shall be necessary to eliminate the shortfall. With respect to any Balloon Loan that is delinquent on its maturity date, the Servicer will continue to make Monthly Advances with respect to such Balloon Loan in an amount equal to one month's interest on the unpaid principal balance at the applicable Loan Rate (net of the Servicing Fee) according to the original amortization schedule for such Mortgage Loan. The obligation to make Monthly Advances with respect to each Mortgage Loan shall continue until such Mortgage Loan becomes a Liquidated Mortgage Loan.
