Common use of Advances for Delinquent Taxes Clause in Contracts

Advances for Delinquent Taxes. (a) If the Servicer shall have knowledge that real property taxes or other taxes, charges or assessments relating to any Mortgaged Property have not been paid when due, the Servicer shall make such payment prior to the time by which failure to make such payment would give rise to a lien on the related Mortgaged Property. Any costs so incurred by the Servicer shall be recoverable by the Servicer as Liquidation Expenses pursuant to Section 2.07, or to the extent recoverable from any Sub-Servicer servicing such Account, or from the related Obligor or from other funds on deposit in the Holding Account to the extent that the Servicer certifies that such advances are not otherwise recoverable due to insufficient Net Liquidation Proceeds. (b) The Servicer shall indemnify the Issuer for any losses resulting from a failure to make the payments referred to in Paragraph (a) above and the Servicer shall deposit the amount of such loss in the Collection Account on the next Remittance Date following the determination of such loss.

Advances for Delinquent Taxes. (a) If the Servicer shall have knowledge that real property taxes or other taxes, charges or assessments relating to any Mortgaged Property have not been paid when due, the Servicer shall make such payment prior to the time by which failure to make such payment would give rise to a lien on the related Mortgaged Property. Any costs so incurred by the Servicer shall be recoverable by the Servicer as Liquidation Expenses pursuant to Section 2.072.07(c), or to the extent recoverable from any Sub-Servicer servicing such AccountMortgage Loan, or from the related Obligor or from other funds on deposit in the Holding Account to the extent that the Servicer certifies that such advances are not otherwise recoverable due to insufficient Net Liquidation Proceeds. (b) The Servicer shall indemnify the Issuer for any losses resulting from a failure to make the payments referred to in Paragraph (a) above and the Servicer shall deposit the amount of such loss in the Collection Account on the next Remittance Date following the determination of such loss.

Advances for Delinquent Taxes. (a) If the Servicer shall have knowledge that real property taxes or other taxes, charges or assessments relating to any Mortgaged Property have not been paid when due, the Servicer shall make such payment prior to the time by which failure to make such payment would give rise to a lien on the related Mortgaged Property. Any costs so incurred by the Servicer shall be recoverable by the Servicer as Liquidation Expenses pursuant to Section 2.072.07(c), or to the extent recoverable from any Sub-Servicer servicing such Account, or from the related Obligor or from other funds on deposit in the Holding Account to the extent that the Servicer certifies that such advances are not otherwise recoverable due to insufficient Net Liquidation Proceeds. (b) The Servicer shall indemnify the Issuer for any losses resulting from a failure to make the payments referred to in Paragraph (a) above and the Servicer shall deposit the amount of such loss in the Collection Account on the next Remittance Date following the determination of such loss.

Advances for Delinquent Taxes. (a) If the Servicer shall have knowledge that real property taxes or other taxes, charges or assessments relating to any Mortgaged Property have not been paid when due, the Servicer shall make such payment prior to the time by which failure to make such payment would give rise to a lien on the related Mortgaged Property. Any costs so incurred by the Servicer shall be recoverable by the Servicer as Liquidation Expenses pursuant to Section 2.072.07(c), or to the extent recoverable from any Sub-Servicer servicing such AccountMortgage Asset, or from the related Obligor or from other funds on deposit in the Holding Account to the extent that the Servicer certifies that such advances are not otherwise recoverable due to insufficient Net Liquidation Proceeds. (b) The Servicer shall indemnify the Issuer for any losses resulting from a failure to make the payments referred to in Paragraph (a) above and the Servicer shall deposit the amount of such loss in the Collection Account on the next Remittance Date following the determination of such loss.