Remittances; P&I Advances. (a) For purposes of this Section 4.5, "Applicable Monthly Payment" shall mean, for any Mortgage Loan with respect to any month, (A) if such Mortgage Loan is delinquent as to its Balloon Payment or constitutes an REO Mortgage Loan, the related Assumed Monthly Payment and (B) if such Mortgage Loan is not described by the preceding clause, the Monthly Payment.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (PNC Mort Sec Corp Com Mort Pass THR Cert Ser 2000-C1), Pooling and Servicing Agreement (Commercial Mortgage Acceptance Corp)