Examples of Monthly Remittance Date in a sentence
In any case where the date of any Monthly Remittance Date shall not be a Business Day, then payment or mailing need not be made on such date, but must be made on the preceding Business Day.
In any case where the date of any Monthly Remittance Date or any Monthly Reporting Date shall not be a Business Day, then payment or mailing need not be made on such date, but must be made on the preceding Business Day.
Any funds so applied shall be replaced by the Servicer by deposit, in the manner set forth above, in the Account no later than the close of business on the Business Day immediately preceding the next Monthly Remittance Date to the extent that funds in the Account on such date are less than the amounts required to be distributed on such Monthly Remittance Date.
In lieu of making all or a portion of any Monthly Advance, the Servicer may cause to be made an appropriate entry in its records relating to the Account that funds in such account, including but not limited to any amounts received in respect of scheduled principal and interest on any Mortgage Loan due after the related Due Period for the related Monthly Remittance Date, have been used by the Servicer in discharge of its obligation to make any such Monthly Advance.
All amounts subject to disagreement shall be deposited into the Principal and Interest Account for the related Trust (and the Servicer acknowledges and agrees that the Supplemental Servicer may issue a Disbursement Notice to the Clearing Bank so instructing the Clearing Bank) and shall not be disbursed from such Principal and Interest Account until the earlier of resolution or the next Monthly Remittance Date.