P&I Advance Date definition

P&I Advance Date. The Business Day immediately prior to each Distribution Date.
P&I Advance Date. The Business Day preceding each Distribution Date.
P&I Advance Date. The Business Day immediately preceding each Distribution Date.

Examples of P&I Advance Date in a sentence

  • If the Master Servicer fails to make a required P&I Advance by 4:00 p.m., New York City time, on any P&I Advance Date, the Trustee shall make such P&I Advance pursuant to Section 7.05 by noon, New York City time, on the related Distribution Date, unless the Master Servicer shall have cured such failure (and provided written notice of such cure to the Trustee and the Certificate Administrator) by 11:00 a.m., New York City time, on such Distribution Date.

  • In the event that the Master Servicer fails to make a required P&I Advance hereunder, the Certificate Administrator shall notify the Trustee of such circumstances by 4:30 p.m., New York City time, on the related P&I Advance Date.

  • Any amounts held in the Certificate Account for future distribution and so used to make P&I Advances shall be appropriately reflected in the Master Servicer’s records and replaced by the Master Servicer by deposit in the Certificate Account on or before the next succeeding P&I Advance Date (to the extent not previously replaced through the deposit of Late Collections of the delinquent principal and/or interest in respect of which such P&I Advances were made).

  • In addition, the Master Servicer shall transfer to the Distribution Account all amounts required to be transferred thereto on such P&I Advance Date from the Certificate Account pursuant to the first paragraph of Section 3.04(b), together with any other amounts on deposit in the Certificate Account that would otherwise be held for future distribution.

  • The Master Servicer shall deliver the portion of any Compensating Interest Payment allocated to a Serviced Pari Passu Companion Loan to the Companion Paying Agent for deposit in the Companion Distribution Account on each P&I Advance Date, without any right of reimbursement therefor.


More Definitions of P&I Advance Date

P&I Advance Date means, with respect to any Distribution Date, the Business Day preceding such Distribution Date.
P&I Advance Date means the Business Day preceding each Distribution Date.
P&I Advance Date. The second Business Day preceding each Distribution Date.
P&I Advance Date. The second Business Day preceding each Payment Date.
P&I Advance Date means the Business Day prior to each Distribution Date.
P&I Advance Date means the date each month, commencing in July 2002, on which, among other things, the Master Servicer is required to make P&I Advances, which date shall be the Business Day immediately preceding each Distribution Date.
P&I Advance Date means the second Business Day after each Determination Date.