Common use of Advance Facilities Clause in Contracts

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. 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 113 114 otherwise sell, assign, pledge or otherwise transfer, any rights to reimbursement for Advances funded, financed or acquired under the Advance Facility.

Advance Facilities. Each (a) Notwithstanding anything to the contrary contained herein, (i) the Servicer is hereby authorized to enter into a financing or other an advance facility (an "“Advance Facility"”) under which (lA) such the Servicer sells, assigns or pledges to another Person (together with such person’s successors and assigns, an "“Advancing Person"”) such the Servicer's ’s rights under this Agreement to be reimbursed for any Monthly Advances or Servicing Advances and/or (2B) an Advancing Person agrees to fund some or all P&I Monthly Advances or Servicing Advances required to be made by such the Servicer pursuant to this AgreementAgreement and (ii) the Servicer is hereby authorized to assign its rights to the Subservicing Fee; it being understood that neither the Trust Fund nor any party hereto shall have a right or claim (including without limitation any right of offset) to the portion of the Subservicing Fee so assigned. Such No consent of the Indenture Trustee, Noteholders or any other party is required before the 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 Monthly Advances and/or Servicing Advances on such the Servicer's ’s behalf, such the Servicer shall remain obligated pursuant to this Agreement to make P&I Monthly 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. 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. Each The Servicer is hereby authorized to enter into a financing or other facility (an "Advance Facility") under which (l) such the Servicer sells, assigns or pledges to another Person (an "Advancing Person") such 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 such the Servicer pursuant to this Agreement. Such The 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 W 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 the Servicer's behalf, such 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. 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. Each Servicer (a) Notwithstanding anything to the contrary contained herein, (i) the Subservicer is hereby authorized to enter into a financing or other an advance facility (an "“Advance Facility"”) under which (lA) such Servicer the Subservicer sells, assigns or pledges to another Person (together with such person’s successors and assigns, an "“Advancing Person"”) such Servicer's the Subservicer’s rights under this Agreement to be reimbursed for any Monthly Advances or Servicing Advances and/or (2B) an Advancing Person agrees to fund some or all P&I Monthly Advances or Servicing Advances required to be made by such Servicer the Subservicer pursuant to this AgreementAgreement and (ii) the Subservicer is hereby authorized to assign its rights to the Subservicing Fee; it being understood that neither the Trust Fund nor any party hereto shall have a right or claim (including without limitation any right of offset) to the portion of the Subservicing Fee so assigned. Such Servicer No consent of the Indenture Trustee, Noteholders or any other party is required before the Subservicer 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 Monthly Advances and/or Servicing Advances on such Servicer's the Subservicer’s behalf, such Servicer the Subservicer shall remain obligated pursuant to this Agreement to make P&I Monthly 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.