Monthly Advances and Compensating Interest. (a) Notwithstanding anything to the contrary herein, the Special Servicer shall make Monthly Advances (other than Balloon Payments as defined in the Trust Agreement) on each Remittance Date through the Remittance Date immediately preceding the distribution of all Liquidation Proceeds and other payments or recoveries (including Insurance Proceeds and condemnation proceeds) with respect to the related Mortgage Loans, unless such advances would constitute Nonrecoverable Advances. (b) Notwithstanding anything to the contrary herein, with respect to each Principal Prepayment of a Mortgage Loan the Special Servicer shall deposit in the Custodial Account on a daily basis and retain therein the Prepayment Interest Shortfall Amount, if any, for the month of distribution. Such deposit shall be made from the Special Servicer's own funds, without reimbursement therefor, up to a maximum amount per month equal to the aggregate of the Base Servicing Fees otherwise payable to the Special Servicer with respect to such month.
Appears in 3 contracts
Sources: Special Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 1999-Bc1), Special Servicing Agreement (Structured Asset Securities Corp), Special Servicing Agreement (Structured Asset Securities Corp)