Advances by the Master Servicer. If any Servicer fails to remit any Advance required to be made under the applicable Purchase and Servicing Agreement, the Master Servicer shall itself make, or shall cause the successor Servicer to make, such Advance. If the Master Servicer determines that an Advance is required, it shall on the Business Day preceding the related Distribution Date immediately following such Determination Date remit to the Securities Administrator from its own funds (or funds advanced by the applicable Servicer) for deposit in the Distribution Account immediately available funds in an amount equal to such Advance. The Master Servicer and each Servicer shall be entitled to be reimbursed for all Advances made by it. 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. If the Master Servicer determines that an Advance is non-recoverable, it shall, on or prior to the related Distribution Date, deliver an Officer's Certificate to the Trustee and the Securities Administrator to such effect.
Advances by the Master Servicer. If any Servicer fails to remit any Advance required to be made under the applicable Purchase and Servicing Agreement, the Master Servicer shall itself make, or shall cause the successor Servicer to make, such Advance. If the Master Servicer determines that an Advance is required, it shall on the Business Day preceding the related Distribution Date immediately following such Determination Date remit to the Securities Administrator from its own funds (or funds advanced by the applicable Servicer) for deposit in the Distribution Account immediately available funds in an amount equal to such Advance. The Master Servicer and each Servicer shall be entitled to be reimbursed for all Advances made by it. 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. If the Master Servicer determines that an Advance is non-recoverable, it shall, on or prior to the related Distribution Date, deliver an Officer’s Certificate to the Trustee and the Securities Administrator to such effect. Neither the Master Servicer nor any Servicer shall be under any obligation to make an Advance with respect to the principal portion of any Balloon Loan that is delinquent on its maturity date; provided that each Servicer’s rights and obligations under the applicable Purchase and Servicing Agreement shall in no way be contravened by this Section 5.05.
Advances by the Master Servicer. (a) Not later than the close of business on the _______ Business Day preceding each Distribution Date, the Master Servicer shall remit to the Trustee for deposit in the Collection Account an amount, to be distributed on the related Distribution Date pursuant to Section 4.5(d), equal to the sum of (a) the interest accrued on each Mortgage Loan at the Mortgage Rate (or at such lower rate as may be in effect for such Mortgage Loan pursuant to application of the Civil Relief Act and/or any Debt Service Reduction) through the related Due Date, but not received as of the close of business on the Determination Date for such Distribution Date (net of the Servicing Fee) and (b) with respect to each REO Property which was acquired during or prior to the related Due Period and as to which a final disposition did not occur during the related Due Period, an amount equal to the excess, if any, of interest on the Principal Balance of such REO Property at the Net Rate for the most recently ended Due Period prior to the related Determination Date for the related Mortgage Loan over the net income from the REO Property transferred to the Collection Account for such Distribution Date pursuant to Section 3.4; such sum being defined herein as the "Monthly Advance." The Master Servicer may fund all or a portion of the Monthly Advance with respect to the Mortgage Loans by instructing the Trustee on such Determination Date to use funds deposited in the Collection Account which are not part of the Total Distribution Amount for the related Distribution Date; provided that if such funds are so used the Master Servicer shall replace such funds on or before any subsequent Determination Date on which such funds are required to be part of the Total Distribution Amount.
Advances by the Master Servicer. (a) Not later than the close of business three Business Days prior to each Distribution Date (a "Master Servicer Remittance Date"), the Master Servicer shall remit to the Trustee for deposit in the Distribution Account an amount to be distributed on such Distribution Date pursuant to Section 5.01, equal to the interest accrued on each Mortgage Loan up to the related Due Date for such Mortgage Loan in the preceding Due Period, but not received as of the close of business on the day preceding the related Determination Date (net of the Master Servicing Fee); such amount being defined herein as the "Monthly Advance". Such deposit of the Monthly Advance to the Distribution Account may be made in whole or in part from funds in the Collection Account being held for future distribution or withdrawal on or in connection with Distribution Dates in subsequent months. Any funds being held for future distribution to Certificateholders and so used shall be replaced by the Master Servicer from its own funds by deposit in the related Distribution Account on or before the Business Day preceding the next succeeding Master Servicer Remittance Date to the extent that such amounts have not been remitted to the Collection Account since such Monthly Advances were made. With respect to any Balloon Loan that is delinquent on its maturity date, the Master Servicer will continue to make Monthly Advances with respect to such Balloon Loan in an amount equal to one month's interest on the unpaid principal balance at the applicable Loan Rate (net of the Master Servicing Fee). The obligation to make Monthly Advances with respect to each Mortgage Loan shall continue until such Mortgage Loan becomes a Liquidated Mortgage Loan.
(b) Notwithstanding anything herein to the contrary, no Servicing Advance or Monthly Advance (including, without limitation, Servicing Advances and Monthly Advances with respect to Balloon Loans) shall be required to be made hereunder if the Master Servicer determines, and provides the Trustee with a Servicing Certificate to the effect, that such Servicing Advance or Monthly Advance would, if made, constitute a Nonrecoverable Advance.
Advances by the Master Servicer. (a) The Master Servicer to the extent it determines that such Advance would be recoverable from subsequent Collections may deposit into the applicable Series Concentration Principal Subaccounts monies in an Approved Currency in an amount equal to any projected liquidity shortfall as determined by the Master Servicer. The Master Servicer shall set forth in the Daily Report and the Monthly Settlement Report the amount of all Servicer Advances made by the Master Servicer during the related reporting period.
(b) On each Distribution Date, the Trustee shall reimburse the Master Servicer for the Outstanding Amount Advanced in accordance with the provisions of each Supplement.
Advances by the Master Servicer. Not later than the close of business on the third Business Day prior to the Payment Date, the Master Servicer shall remit to the Trustee for deposit in the Certificate Account an amount as indicated in the Trustee's Report prepared pursuant to Section 6.07, to be distributed on the related Payment Date pursuant to Section 6.06, equal to the sum of (a) the interest accrued on each Mortgage Loan through the related Due Date, but not received as of the close of business on the last day of the related Due Period (net of the Servicing Fee) and (b) with respect to each REO Property which was acquired during or prior to the related Due Period and as to which an REO Disposition did not occur during the related Due Period, an amount equal to the excess, if any, of interest on the Principal Balance of such REO Property, at the Mortgage Interest Rate (net of the Servicing Fee) for the most recently ended Due Period for the related Mortgage Loan over the net income from the REO Property transferred to the Certificate Account for such Payment Date pursuant to Section 5.10, such sum being defined herein as the "Monthly Advance". Notwithstanding anything to the contrary, no Servicing Advance or Monthly Advance shall be required to be made hereunder if the Master Servicer determines that such Servicing Advance or Monthly Advance would, if made, constitute a Nonrecoverable Advance.
Advances by the Master Servicer. 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, the Servicer determines that any Scheduled Payments due during the related Collection Period have not been received, the Servicer shall advance such amount to the extent provided in the Servicing Agreement. If the Servicer fails to remit Advances required to be made under the 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 Servicer) immediately available funds in an amount equal to such Advance. The Master Servicer and the 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 the Master Servicer. (a) The Master Servicer to the extent it determines that such Servicer Advance would be recoverable from subsequent Collections may deposit into the Collection Account or the Company Concentration Account, if any, available funds in an amount equal to any projected liquidity shortfall as determined by the Master Servicer. The Master Servicer shall set forth in the applicable Weekly Report, if any, and the applicable Monthly Settlement Report the amount of all Servicer Advances made by the Master Servicer during the related reporting period.
(b) On each Settlement Date, the Collateral Agent shall reimburse the Master Servicer for the Outstanding Amount Advanced in accordance with the provisions of the U.S. Receivables Loan Agreement.
Advances by the Master Servicer. (a) Not later than the close of business on the second Business Day prior to each Distribution Date, the Master Servicer shall remit to the Trustee for deposit in the Certificate Account an amount to be distributed on such Distribution Date pursuant to Section 5.01, equal to the sum of 30 days of interest on each Home Equity Loan for which a monthly payment has not been received by the Master Servicer with respect to the related Collection Period (net of the Master Servicing Fee) by the close of business on the related Determination Date; such amount being defined herein as the "Monthly Advance". The Master Servicer may fund all or a portion of the Monthly Advance with respect to the Home Equity Loans by instructing the Trustee on the related Determination Date to use funds deposited in the Collection Account which are not part of Available Funds for the related Distribution Date; provided that if such funds are so used the Master Servicer on notice to the Trustee shall replace such funds on or before any subsequent Determination Date on which such funds are required to be part of the Available Funds.
(b) Notwithstanding anything herein to the contrary, no Servicing Advance or Monthly Advance shall be required to be made hereunder if the Master Servicer determines in its good faith business judgment that such Servicing Advance or Monthly Advance would, if made, constitute a Nonrecoverable Advance.
Advances by the Master Servicer. Distribution --------------------------------------------- Reports to the Trustee. ----------------------
