Common use of Advances by the Servicer Clause in Contracts

Advances by the Servicer. Not later than the close of business on each Determination Date, the Servicer shall 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 Remittance Rate on the aggregate Class A 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 and Class B Interest Distribution Amounts and (B) the sum of the Adjusted Class A 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 (plus, for the Remittance Dates in January, February and March 1998, 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 6.05(c) and (ii) the Pre-Funding Earnings for the applicable Remittance Date), the Premium Protection Fee, the Additional Fee, the Servicing Fee, and the FTA's Fee, 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.

Appears in 2 contracts

Samples: Spread Account Agreement (BLC Financial Services Inc), Spread Account Agreement (BLC Financial Services Inc)

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Advances by the Servicer. Not later than the close of business on each Determination Date, the Servicer shall 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 Remittance Benchmark Rate on the aggregate Class A 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 A, Class M and Class B Interest Distribution Amounts and (B) the sum of the Adjusted Class A 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 Holders, the Premium Protection Fee, the Additional Fee, the Servicing Fee and the FTA's Fee (plus, for the Remittance Dates in JanuaryApril, February May and March 1998June 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 6.05(c6.04(g) and (ii) the Pre-Funding Earnings for the applicable Remittance Date), the Premium Protection Fee, the Additional Fee, the Servicing Fee, and the FTA's Fee, 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.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (First International Bancorp Inc), Pooling and Servicing Agreement (First International Bancorp Inc)

Advances by the Servicer. Not later than the close of business on each Determination Date, the Servicer shall 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 Remittance Rate on the aggregate Class A 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 and Class B Interest Distribution Amounts and (B) the sum of the Adjusted Class A 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 Holders, the Premium Protection Fee, the Additional Fee and the FTA's Fee (plus, for the Remittance Dates in JanuaryOctober, February November and March 1998December 1997, 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 6.05(c6.04(g) and (ii) the Pre-Funding Earnings for the applicable Remittance Date), the Premium Protection Fee, the Additional Fee, the Servicing Fee, and the FTA's Fee, 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.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Money Store Sba Loan Backed Adj Rak Cert Series 1997-I)

Advances by the Servicer. Not later than the close of business on each Determination Date, the Servicer shall 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 Remittance Benchmark Rate on the aggregate Class A 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 A, Class M and Class B Interest Distribution Amounts and (B) the sum of the Adjusted Class A 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 Holders, the Premium Protection Fee, the Additional Fee, the Servicing Fee and the FTA's Fee (plus, for the Remittance Dates in JanuaryJuly, February August and March 1998September 1999, 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 6.05(c6.04(g) and (ii) the Pre-Funding Earnings for the applicable Remittance Date), the Premium Protection Fee, the Additional Fee, the Servicing Fee, and the FTA's Fee, 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.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First International Bancorp Inc)

Advances by the Servicer. Not later than the close of business on each Determination Date, the Servicer shall 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 Remittance Rate on the aggregate Class A 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 A, Class M and Class B Interest Distribution Amounts and (B) the sum of the Adjusted Class A A, 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 Unguaranteed Interest of the SBA Loans minus the interest payable to the Registered Holders Holders, the Premium Protection Fee, the Additional Fee, the Servicing Fee and the FTA's Fee (plus, for the Remittance Dates in JanuaryApril, February May and March 1998June 1999, 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 6.05(c6.04(g) and (ii) the Pre-Funding Earnings for the applicable Remittance Date), the Premium Protection Fee, the Additional Fee, the Servicing Fee, and the FTA's Fee, 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.

Appears in 1 contract

Samples: Spread Account Agreement (Money Store of New York Inc)

Advances by the Servicer. Not later than the close of business on each Determination Date, the Servicer shall remit to the Indenture Trustee for deposit in the Certificate Note Distribution Account an amount (as indicated in the Servicer's Certificate prepared pursuant to Section 6.095.09), to be distributed on the related Remittance Date pursuant to Section 6.075.07, equal to the amount by which (i) 30 days' interest at a 46 53 rate equal to the then applicable Adjusted SBA Loan Remittance Rate on the aggregate Class Principal Balances for the Class A Notes, Class M Notes and Class B Principal Balances Notes immediately prior to the related Remittance Date (plus or minus the difference, if any, between (A) the sum of the Class A and Class B Interest Distribution Amounts and (B) the sum of the Adjusted Class A 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 Holders, the Required Holdback Amount, the Additional Fee, and the FTA's Fee (plus, for the Remittance Dates in January, February and March 1998during the Funding Period, the sum of (i) all funds to be transferred to the Certificate Note Distribution Account from the Capitalized Interest Account for such Remittance Date pursuant to Section 6.05(c5.04(f) and (ii) the Pre-Funding Earnings for the applicable Remittance Date), the Premium Protection Fee, the Additional Fee, the Servicing Fee, and the FTA's Fee, such excess being defined herein as the "Monthly Advance." The Servicer may reimburse itself for Monthly Advances made pursuant to Section 5.044.04. 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. Notwithstanding the foregoing, no Servicer other than FIB or one of its Affiliates shall be required to make any Monthly Advances pursuant to this Section 5.10.

Appears in 1 contract

Samples: Sale and Servicing Agreement (First International Bancorp Inc)

Advances by the Servicer. Not later than the close of business on each Determination Date, the Servicer shall 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 Remittance Rate on the aggregate Class A 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 and Class B Interest Distribution Amounts and (B) the sum of the Adjusted Class A 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 Holders, the Premium Protection Fee, the Additional Fee and the Agent of the SBA's Fee (plus, for the Remittance Dates in January, February and March 19981997, 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 6.05(c6.04(g) and (ii) the Pre-Funding Earnings for the applicable Remittance Date), the Premium Protection Fee, the Additional Fee, the Servicing Fee, and the FTA's Fee, 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.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Money Store of New York Inc)

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Advances by the Servicer. Not later than the close of business on each Determination Date, the Servicer shall 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 Business Loan Remittance Rate on the aggregate Aggregate Class A A, Class M and Class B Certificate Principal Balances immediately prior to the related Remittance Date (plus or minus the difference, if any, between (A) the sum of the Class A A, Class M and Class B Interest Distribution Amounts and (B) the sum of the Adjusted Class A 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 Business Loans minus the interest payable to the Registered Holders (plus, for the Remittance Dates in JanuaryApril, February May and March 1998June 1997, 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 6.05(c6.04(g) and (ii) the Pre-Funding Earnings for the applicable Remittance Date), the Premium Protection Fee, the Additional Fee, the Servicing Fee, and the FTA's Fee, 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.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Money Store Commercial Mortgage Inc)

Advances by the Servicer. Not later than the close of business on each Determination Date, the Servicer shall 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 Remittance Rate on the aggregate Class A 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 and Class B Interest Distribution Amounts and (B) the sum of the Adjusted Class A 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 Holders, the Premium Protection Fee, the Additional Fee, the Servicing Fee and the FTA's Fee (plus, for the Remittance Dates in JanuaryApril, February May and March June 1998, 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 6.05(c6.04(g) and (ii) the Pre-Funding Earnings for the applicable Remittance Date), the Premium Protection Fee, the Additional Fee, the Servicing Fee, and the FTA's Fee, 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.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Money Store of New York Inc)

Advances by the Servicer. Not later than the close of business on each Determination Date, the Servicer shall 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 Business Loan Remittance Rate on the aggregate Aggregate Class A and Class B Certificate Principal Balances immediately prior to the related Remittance Date (plus or minus the difference, if any, between (A) the sum of the Class A and Class B Interest Distribution Amounts and (B) the sum of the Adjusted Class A 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 Business Loans minus the interest payable to the Registered Holders (plus, for the Remittance Dates in January, February and March 1998, 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 6.05(c6.04(g) and (ii) the Pre-Funding Earnings for the applicable Remittance Date), the Premium Protection Fee, the Additional Fee, the Servicing Fee, and the FTA's Fee, 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 a Business Loan if it determines, in good faith, that such advance would be nonrecoverable from amounts received in respect of the SBA Business Loans.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Money Store Commercial Mortgage Inc)

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