Examples of P&I Advance in a sentence
The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation.
The Lead Servicer and/or the related Trustee will not be required to make any P&I Advance with respect to any Non-Lead Note (other than any Non-Lead Note contributed to the Lead Securitization) and the related Non-Lead Master Servicer and/or the related Trustee will not be required to make any P&I Advance with respect to the Lead Note, any other Non-Lead Note or any Property Advance.
The Lead Servicer and/or the related Trustee will not be required to make any P&I Advance with respect to any Non-Lead Note and the related Non-Lead Master Servicer and/or the related Non-Lead Trustee will not be required to make any P&I Advance with respect to any Lead Note, any other Non-Lead Note or any Property Advance.