Common use of Advances by Master Servicer and Servicers Clause in Contracts

Advances by Master Servicer and Servicers. Subject to Section 9.07, Advances shall be made not later than the Business Day immediately preceding the related Distribution Date as provided herein. If, on any Determination Date, any Servicer determines that any Scheduled Payments (or in the case of Simple Interest Mortgage Loans, the amount of any scheduled interest payments) due during the related Collection Period (other than Balloon Payments) have not been received, such Servicer shall advance such amount to the extent provided in the applicable Servicing Agreement. If any Servicer fails to remit Advances required to be made under the applicable Servicing Agreement, the Master Servicer shall itself make, or shall cause the successor servicer to make, such Advance not later than the Business Day immediately preceding the related Distribution Date. If the Master Servicer determines that an Advance is required, it shall not later than the Business Day immediately preceding the related Distribution Date deposit in the Certificate Account from its own funds (or funds advanced by the applicable Servicer) immediately available funds in an amount equal to such Advance. The Master Servicer and each Servicer shall be entitled to be reimbursed from the Certificate Account for all Advances made by it as provided in Section 4.02. Notwithstanding anything to the contrary herein, in the event the Master Servicer determines in its reasonable judgment that an Advance is non-recoverable, the Master Servicer shall be under no obligation to make such Advance.

Advances by Master Servicer and Servicers. Subject to Section 9.07, Advances shall be made not later than the Business Day immediately preceding the related Distribution Date as provided herein. If, on any Determination Date, any Servicer determines that any Scheduled Payments (or in the case of Simple Interest Mortgage Loans, the amount of any scheduled interest payments) due during the related Collection Period (other than Balloon Payments) have not been received, such Servicer shall advance such amount to the extent provided in the applicable Servicing Agreement. If any Servicer fails to remit Advances required to be made under the applicable Servicing Agreement, the Master Servicer shall itself make, or shall cause the successor servicer to make, such Advance not later than the Business Day immediately preceding the related Distribution Date. If the Master Servicer determines that an Advance is required, it shall not later than the Business Day immediately preceding the related Distribution Date deposit in the Certificate Account from its own funds (or funds advanced by the applicable Servicer) immediately available funds in an amount equal to such Advance. The Master Servicer and each Servicer shall be entitled to be reimbursed from the Certificate Account for all Advances made by it as provided in Section 4.02. Notwithstanding anything to the contrary herein, in the event the Master Servicer determines in its reasonable judgment that an Advance is non-recoverable, the Master Servicer shall be under no obligation to make such Advance.. 110

Advances by Master Servicer and Servicers. Subject to Section 9.07, Advances shall be made not later than the Business Day immediately preceding the related Distribution Date as provided herein. If, on any Determination Date, any Servicer determines that any Scheduled Payments (or in the case of Simple Interest Mortgage Loans, the amount of any scheduled interest payments) due during the related Collection Period (other than Balloon Payments) have not been received, such Servicer shall advance such amount to the extent provided in the applicable Servicing Agreement. If any Servicer fails to remit Advances required to be made under the applicable Servicing Agreement, the Master Servicer shall itself make, or shall cause the successor servicer to make, such Advance not later than the Business Day immediately preceding the related Distribution Date. If the Master Servicer determines that an Advance is required, it shall not later than the Business Day immediately preceding the related Distribution Date deposit in the Certificate Account from its own funds (or funds advanced by the applicable Servicer) immediately available funds in an amount equal to such Advance. The Master Servicer and each Servicer shall be entitled to be reimbursed from the Certificate Account for all Advances made by it as provided in Section 4.02. Notwithstanding anything to the contrary herein, in the event the Master Servicer determines in its reasonable judgment that an Advance is non-recoverable, the Master Servicer shall be under no obligation to make such Advance.. 109