P&I Advances definition

P&I Advances. Advances made by the servicers or the Master Servicer (including the Trustee as successor master servicer and any other successor master servicer) with respect to delinquent payments of interest and principal on the mortgage loans, less the servicing fee or the master servicing fee, as applicable.

P&I Advances that portion of each P&I Advance that represents the Master Servicing Fee and, if applicable, the Special Servicing Fee;

P&I Advances. With respect to a Mortgage Loan, the payments required to be made by the Servicer with respect to any Distribution Date pursuant to the Servicing Agreement, the amount of any such payment being equal to the aggregate of the payments of principal and interest (net of the applicable Servicing Fee and net of any net income in the case of any REO Property) on the Mortgage Loans (other than Charged-off Loans or Released Mortgage Loans) that were due on the related Due Date and not received as of the Business Day immediately preceding the Distribution Account Deposit Date, less the aggregate amount of any such delinquent payments that the Servicer has determined would constitute Nonrecoverable Advances if advanced.

Examples of P&I Advances in a sentence

• In the event of any such arrangement pursuant to clause (ii) above, the Servicer shall make timely advances on such Mortgage Loan during such extension pursuant to Section 4.01 and in accordance with the amortization schedule of such Mortgage Loan without modification thereof by reason of such arrangements, subject to Section 4.01(d) pursuant to which the Servicer shall not be required to make any such advances that are Nonrecoverable P&I Advances.

• Notwithstanding the existence of any Advance Facility under which an Advancing Person agrees to fund P&I Advances and/or Servicing Advances on the Servicer's behalf, the Servicer shall remain obligated pursuant to this Agreement to make P&I Advances and Servicing Advances pursuant to and as required by this Agreement, and shall not be relieved of such obligations by virtue of such Advance Facility.

• In accordance with Section 3.05, Monthly P&I Advances are reimbursable to the Master Servicer from cash in the Investment Account or the Certificate Account to the extent that the Master Servicer shall determine that any such advances previously made are Nonrecoverable Advances pursuant to Section 4.03.

• On each Distribution Date, the amounts that have been transferred to the Lower-Tier REMIC Distribution Account from the Collection Account or as P&I Advances or Compensating Interest Payments or as otherwise contemplated by the preceding sentences of this Section 4.01(a) shall be deemed distributed on the Lower-Tier Regular Interests to the Upper-Tier REMIC, in accordance with Section 4.01(a)(ii) and the last paragraph of Section 4.01(d).

• An Advancing Person who purchases or receives an assignment or pledge of the rights to be reimbursed for P&I Advances and/or Servicing Advances, and/or whose obligations hereunder are limited to the funding of P&I Advances and/or Servicing Advances shall not be required to meet the criteria for qualification of a Subservicer set forth in this Agreement.

More Definitions of P&I Advances

P&I Advances. Any advance made by the Servicer of a principal or interest payment with respect to a Mortgage Loan.

P&I Advances has the meaning given in Section 2.6 of the ------------ Servicing Agreement.

P&I Advances means advances of principal and interest on a Mortgage Loan which the Borrower is obligated to make pursuant to the terms of a Pooling and Servicing Agreement in connection with a Specified Securitization Transaction.

P&I Advances shall have the meaning assigned to such term in Section 6.

P&I Advances has the meaning given in Section 2.6 of the Servicing Agreement.

P&I Advances has the meaning provided under the Pooling and Servicing Agreements or, with respect to the Xxxxxxx Xxxxx Pooling Agreement, shall mean "Monthly Advances" as defined therein.

P&I Advances. Escrow Advances" and "Liquidation Expenses."