Advance Facilities. With the prior written consent of the Certificate Insurer, the Servicer is hereby authorized to enter into a financing or other facility (an "Advance Facility") under which (l) the Servicer sells, assigns or pledges to another Person (an "Advancing Person") the Servicer's rights under this Agreement to be reimbursed for any Advances and/or (2) an Advancing Person agrees to fund some or all P&I Advances or Servicing Advances required to be made by the Servicer pursuant to this Agreement. Except as provided in the preceding sentence, no consent of any party is required before the Servicer may enter into an Advance Facility. 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.
Advance Facilities. Each Servicer is hereby authorized to enter into a financing or other facility (an "Advance Facility") under which (l) such Servicer sells, assigns or pledges to another Person (an "Advancing Person") such Servicer's rights under this Agreement to be reimbursed for any Advances and/or (2) an Advancing Person agrees to fund some or all P&I Advances or Servicing Advances required to be made by such Servicer pursuant to this Agreement. Such Servicer may enter into an Advance Facility without the consent of any Person. Upon entering into any such Advance Facility, the applicable Servicer shall promptly notify the Securities Administrator with a notice substantively in the form attached hereto as Exhibit V and the Securities Administrator shall execute an acknowledgement of such Advance Facility Notice promptly upon the receipt of such notice from the related Servicer. Notwithstanding the existence of any Advance Facility under which an Advancing Person agrees to fund P&I Advances and/or Servicing Advances on such Servicer's behalf, such 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. An Advancing Person shall not be required to meet the criteria for qualification of a subservicer set forth in this Agreement. An Advancing Person shall be permitted to finance, or 113 otherwise sell, assign, pledge or otherwise transfer, any rights to reimbursement for Advances funded, financed or acquired under the Advance Facility.
Advance Facilities. Prior to entering into any loan facility or similar arrangement with a third party secured by Xxxxxxxx’s right, title and interest in any rights to reimbursement for any servicing advances made under the Servicing Contracts, Borrower shall provide the Lender with ten (10) Business Days advance notice and shall cooperate with Lender to enable Lender to give such third party notice of Xxxxxx’s interest hereunder, including without limitation, by providing to Lender the name and contact information for delivery of such notice to the third party to whom such rights are or will be pledged.
Advance Facilities. Prior to entering into any arrangement which in any way involves pledging any of the Borrower’s right, title and interest in, to and under any right to reimbursement of any Advances under the Servicing Contracts to a third party, the Borrower shall provide the Lender with five (5) Business Days advance notice and shall cooperate with Lender to enable Lender to give such third party notice of Xxxxxx’s interest hereunder, including without limitation, by providing to Lender the name and contact information for delivery of such notice to the third party to whom Xxxxxxxx’s right to reimbursement will be pledged.
Advance Facilities. With the prior written consent of the Class A Certificate Insurer, the Servicer is hereby authorized to enter into a financing or other facility (an "ADVANCE FACILITY") under which (l) the Servicer sells, assigns or pledges to another Person (an "ADVANCING PERSON") the Servicer's rights under this Agreement to be reimbursed for any Advances and/or (2) an Advancing Person agrees to fund some or all P&I Advances or Servicing Advances required to be made by the Servicer pursuant to this Agreement; PROVIDED, HOWEVER, that the Class A Certificate Insurer hereby consents to JP Morgan Chase Bank, pursuant to that certain 8/02 Fairbanks Cxxxxxx Xxrx. Xxnior Secured Credit Agreement dated as of August 1, 2002 by and among Fairbanks, as borrower, JPMorgan Chase Bank, as administrative agent, collateral agent and a lender and the other lenders party thereto (the "JPMORGAN CREDIT AGREEMENT"); PROVIDED, FURTHER, that such consent is conditioned upon receipt by the Class A Certificate Insurer of a letter from JPMorgan Chase Bank and the Servicer to the Class A Certificate Insurer within eight Business Days of the Closing Date, in form and substance satisfactory to the Class A Certificate Insurer, and thereafter the Class A Certificate Insurer shall have seven Business Days following receipt of such letter to confirm or withdraw such consent (collectively, the "CONSENT PROCEDURES"). Except as provided in the preceding sentence, no consent of any party is required before the Servicer may enter into an Advance Facility. 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. Reimbursement amounts ("ADVANCE REIMBURSEMENT AMOUNTS") shall consist solely of amounts in respect of P&I Advances and/or Servicing Advances made with respect to the Mortgage Loans for which the Servicer would be permitted to reimburse itself in accordance with this Agreement, assuming the Servicer had made the related P&I Advance(s) and/or Servicing Advance(s). The Servicer shall maintain and provide to any successor Servicer a detailed accounting on a loan-by-loan basis as to amounts advanced by, pledged or assigned to, and reimbursed to any Advancing Person. T...
Advance Facilities. [***] Business Day following (i) the occurrence of any event of default under any Advance Facility, (ii) notice from any Agency declining to renew, terminating or revoking its consent to any Advance Facility or (iii) notice from any party to an Advance Facility declining to renew or terminating an Advance Facility.
Advance Facilities. With the prior written consent of the Class A-1 Certificate Insurer, the Servicer is hereby authorized to enter into a financing or other facility (an "Advance Facility") under which (l) the Servicer sells, assigns or pledges to another Person (an "Advancing Person") the Servicer's rights under this Agreement to be reimbursed for any Advances and/or (2) an Advancing Person agrees to fund some or all P&I Advances or Servicing Advances required to be made by the Servicer pursuant to this Agreement; provided, however, that the Class A-1 Certificate Insurer hereby consents to JPMorgan Chase Bank, pursuant to that certain 8/02 Fairbanks Capital Corp. Senior Secured Credit Agreement dated as of August 1, 2002 by and among Fairbanks, as borrower, JPMorgan Chase Bank, as administrative agent, collateral agent and a lender and the other lenders party thereto (the "JPMorgan Credit Agreement"). Except as provided in the preceding sentence, no consent of any party is required before the Servicer may enter into an Advance Facility. 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.
Advance Facilities
