Common use of Monthly Advances by the Servicer Clause in Contracts

Monthly Advances by the Servicer. On the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution an amount equal to all Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 4.01. Any amounts held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account on or before any future Remittance Date if funds in the Custodial Account on such Remittance Date shall be less than payments to the Owner required to be made on such Remittance Date. The Servicer's obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including REO Disposition Proceeds, Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverable, the Servicer shall provide the Owner with a certificate signed by an officer of the Servicer evidencing such determination.

Monthly Advances by the Servicer. On Not later than the close of business on the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution an amount equal to all payments not previously advanced by the Servicer, whether or not deferred pursuant to Section 4.01, of Monthly Payments (with interest Payments, adjusted to the related Mortgage Loan Remittance Rate) , which were due on the Mortgage Loans during the applicable Due Period and which were are delinquent at the close of business on the immediately preceding related Determination Date or which were deferred pursuant to Section 4.01Date; provided, however, that the amount of any such deposit may be reduced by the Amount Held for Future Distribution (as defined below) then on deposit in the Custodial Account. Any amounts held portion of the Amount Held for future distribution and so Future Distribution used to pay Monthly Advances shall be replaced by the Servicer by deposit into the Custodial Account on any future Remittance Date to the extent that the funds that are available in the Custodial Account for remittance to the Owner on or before any future such Remittance Date if funds are less than the amount of payments required to be made to the Owner on such Remittance Date. The "Amount Held for Future Distribution" as to any Remittance Date shall be the total of the amounts held in the Custodial Account at the close of business on the preceding Determination Date which were received after the Cut-off Date on account of (i) Liquidation Proceeds, Insurance Proceeds, and Principal Prepayments received or made in the month of such Remittance Date shall be less than Date, and (ii) payments which represent early receipt of scheduled payments of principal and interest due on a date or dates subsequent to the Owner required to be made on such Remittance related Due Date. The Servicer's obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full final disposition or liquidation of the Mortgage LoanMortgaged Property, or through unless the last Remittance Date prior Servicer deems such advance to the Remittance Date for the distribution of all be nonrecoverable from Liquidation Proceeds and other payments or recoveries (including Proceeds, REO Disposition Proceeds, Proceeds or Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular applicable Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverablelatter event, the Servicer shall provide deliver to the Owner with a certificate signed by an Officer's Certificate of the Servicer to the effect that an officer of the Servicer evidencing such determinationhas reviewed the related Servicing File and has obtained a recent appraisal and has made the reasonable determination that any additional advances are nonrecoverable from Liquidation or Insurance Proceeds with respect to the applicable Mortgage Loan.

Monthly Advances by the Servicer. On (a) Not later than the close of business on the Business Day immediately preceding each Monthly Remittance Date, the Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution an amount (the "Monthly Advance") equal to all Monthly Payments payments not previously advanced by the Servicer of principal (with due after the related Cut-off Date) and interest adjusted at the Net Rate not allocable to the Mortgage Loan Remittance Rate) period prior to the related Cut-off Date, which were due on the a Mortgage Loans Loan during the applicable related Due Period and which were delinquent at the close of business on the immediately preceding related Determination Date whether or which were deferred pursuant not deferred. In lieu of making all or a portion of any Monthly Advance, the Servicer may cause to Section 4.01be made an appropriate entry in its records relating to the Account that funds in such account, including but not limited to any amounts received in respect of scheduled principal and interest on any Mortgage Loan due after the related Due Period for the related Monthly Remittance Date, have been used by the Servicer in discharge of its obligation to make any such Monthly Advance. Any amounts held for future distribution and funds so used applied shall be replaced by the Servicer by deposit deposit, in the Custodial manner set forth above, in the Account no later than the close of business on or before any future the Business Day immediately preceding the next Monthly Remittance Date if to the extent that funds in the Custodial Account on such Remittance Date shall be date are less than payments to the Owner amounts required to be made distributed on such Monthly Remittance Date. The Servicer's obligation Servicer shall be entitled to make such be reimbursed from the Account for all Monthly Advances of its own funds made pursuant to this Section as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment provided in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including REO Disposition Proceeds, Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverable, the Servicer shall provide the Owner with a certificate signed by an officer of the Servicer evidencing such determinationSection 2.5.

Monthly Advances by the Servicer. On Not later than the close of business on the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution an amount equal to all Monthly Payments payments not previously advanced by the Servicer, whether or not deferred pursuant to Subsection 11.01, of principal (with due after the Cut-off Date) and interest not allocable to the period prior to the Cut-off Date, adjusted to the Mortgage Loan Remittance Rate) , which were due on the a Mortgage Loans during the applicable Due Period Loan and which were delinquent at the close of business on the immediately preceding related Determination Date or which were deferred pursuant Date; provided, however, that (i) with respect to Section 4.01. Any amounts held for future distribution and so used a delinquent Balloon Payment, the Servicer shall be replaced by obligated to make advances under this Subsection 11.19 in an amount equal to the assumed monthly payment that would have been due on the related Due Date based on the original principal amortization schedule for the such Balloon Mortgage Loan and (ii) with respect to an Interest Only Mortgage Loan, the Servicer by deposit in the Custodial Account on or before any future Remittance Date if funds in the Custodial Account on such Remittance Date shall be less than obligated to make advances under this Subsection 11.19 in an amount equal to, for the interest only period of the term of such Mortgage Loan, scheduled payments to the Owner required to be made on such Remittance Dateof interest thereon, and thereafter, scheduled payments of principal and interest thereon. The Servicer's ’s obligation to make such Monthly Advances advances as to any Mortgage Loan will continue through the earliest of: (i) the last Monthly Payment due prior to the payment in full of the Mortgage Loan, or through (ii) the last Remittance Date prior to the Remittance Date for the distribution of all any Liquidation Proceeds and other payments or recoveries (including REO Disposition Proceeds, Other Insurance Proceeds or Condemnation Proceeds which, in the case of Other Insurance Proceeds and Condemnation Proceeds, satisfy in full the indebtedness of such Mortgage Loan, and (iii) with respect the Remittance Date prior to the date the Mortgage LoanLoan is converted to REO Property; provided, however, that in connection with any Pass-Through transfer involving such obligation shall cease if Mortgage Loan, the Servicer determines, shall make Monthly Advances through the Remittance Date prior to the date on which cash is received in its sole reasonable opinion, that advances connection with respect to such Mortgage Loan are non-recoverable by the liquidation of REO Property. In no event shall the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect be obligated to make an advance under this Section 5.03 if at the time of such advance it deems such advance to be a particular Mortgage LoanNonrecoverable Advance. In the event that connection with a Pass-Through Transfer, if the Servicer determines that any such advances are non-recoverablean advance is or would be a Nonrecoverable Advance, the Servicer shall provide deliver to the Owner with a certificate signed by Purchaser an officer Officer’s Certificate of the Servicer evidencing such determinationto the effect that a Servicing Officer has reviewed the related Mortgage File and has made the reasonable determination that any previous and any additional advances would be Nonrecoverable Advances. Furthermore, the Servicer shall not be required to advance Relief Act Shortfalls.

Monthly Advances by the Servicer. On Not later than the close of business on the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution an amount equal to all payments not previously advanced by the Servicer, whether or not deferred pursuant to Section 4.01, of Monthly Payments (with interest Payments, adjusted to the related Mortgage Loan Remittance Rate) , which were due on the Mortgage Loans during the applicable Due Period and which were are delinquent at the close of business on the immediately preceding related Determination Date or which were deferred pursuant Date; provided, however, that the amount of any such deposit may be reduced by (i) the Amount Held for Future Distribution (as defined below) then on deposit in the Custodial Account, plus (ii) with respect to Section 4.01the initial Remittance Date, the Non-held Early Pay Amount (as defined below). Any amounts held portion of the Amount Held for future distribution and so Future Distribution used to pay Monthly Advances shall be replaced by the Servicer by deposit into the Custodial Account on any future Remittance Date to the extent that the funds that are available in the Custodial Account for remittance to the Owner on or before any future such Remittance Date if funds are less than the amount of payments required to be made to the Owner on such Remittance Date. The “Amount Held for Future Distribution” as to any Remittance Date shall be the total of the amounts held in the Custodial Account at the close of business on the preceding Determination Date which were received after the Cut-off Date on account of (i) Liquidation Proceeds, Insurance Proceeds, and Partial Principal Prepayments received or made in the month of such Remittance Date Date, (ii) Full Principal Payments received after the 15th day of the month in the month of such Remittance Date, and (iii) payments which represent early receipt of scheduled payments of principal and interest due on a date or dates subsequent to the related Due Date. The "Non-held Early Pay Amount" shall be less than the total of the amounts on account of payments which represent early receipt of scheduled payments of principal and interest received on or prior to the Owner required to be made on such Remittance Cut-off Date. The Servicer's obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full final disposition or liquidation of the Mortgage LoanMortgaged Property, or through unless the last Remittance Date prior Servicer deems such advance to the Remittance Date for the distribution of all be nonrecoverable from Liquidation Proceeds and other payments or recoveries (including Proceeds, REO Disposition Proceeds, Proceeds or Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular applicable Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverablelatter event, the Servicer shall provide deliver to the Owner with a certificate signed by an Officer's Certificate of the Servicer to the effect that an officer of the Servicer evidencing such determinationhas reviewed the related Servicing File and has obtained a recent appraisal and has made the reasonable determination that any additional advances are nonrecoverable from Liquidation or Insurance Proceeds with respect to the applicable Mortgage Loan.

Monthly Advances by the Servicer. On Not later than the close of business on the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution an amount equal to all Monthly Payments payments not previously advanced by the Servicer, whether or not deferred pursuant to Section 4.01, of principal (with due after the Cut-off Date) and interest adjusted not allocable to the period prior to the Cut-off Date, at the Mortgage Loan Remittance Rate) Rate which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 4.01. Any amounts held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account on or before any future Remittance Date if funds in the Custodial Account on such Remittance Date shall be less than payments to the Owner required to be made on such Remittance Date. The Servicer's obligation to make such Monthly Advances as is mandatory, notwithstanding any other provision of this Agreement, and, with respect to any Mortgage Loan or REO Property, will continue through the last Monthly Payment due prior to the payment until a Final Recovery Determination in full of the Mortgage Loanconnection therewith, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including REO Disposition Proceeds, Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular Mortgage LoanNonrecoverable Monthly Advances. In the event that the Servicer determines that any such advances are non-recoverableis a Nonrecoverable Monthly Advance, the Servicer shall provide the Owner with a certificate an Officer’s Certificate signed by an authorized officer of the Servicer evidencing such determination. The Servicer shall not have an obligation to make such Monthly Advances as to any Mortgage Loan with respect to shortfalls relating to the Servicemembers Civil Relief Act or similar state and local laws.

Monthly Advances by the Servicer. On Not later than the close of business on the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution an amount equal to all Monthly Payments (with interest adjusted Payments, whether or not deferred pursuant to the Mortgage Loan Remittance Rate) Section 4.01, which were due on a Mortgage Loan on the Mortgage Loans during the applicable immediately preceding Due Period Date and which were delinquent at the close of business on the immediately preceding related Determination Date or which were deferred pursuant to Section 4.01Date. Any amounts held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account on or before any future Remittance Date if funds in the Custodial Account on such Remittance Date shall be less than payments to the Owner Purchaser required to be made on such Remittance Date. Notwithstanding the foregoing, the Servicer shall not be permitted to make any advances from amounts held for future distribution, and instead shall be required to make all advances from its own funds, unless the Servicer, its parent, or their respective successors hereunder shall have a long-term credit rating of at least "A" by Fitch, Inc., or the equivalent rating of another Rating Agency. The Servicer's obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including REO Disposition Proceeds, Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage LoanLoan or REO Property; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverable, the Servicer shall provide the Owner Purchaser with a certificate signed by an officer two officers of the Servicer evidencing such determination.

Monthly Advances by the Servicer. On Not later than the close of business on the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution an amount equal to all payments not previously advanced by the Servicer, whether or not deferred pursuant to Section 4.01, of Monthly Payments (with interest Payments, adjusted to the related Mortgage Loan Remittance Rate) , which were due on the Mortgage Loans during the applicable Due Period and which were are delinquent at the close of business on the immediately preceding related Determination Date or which were deferred pursuant to Section 4.01Date; provided, however, that the amount of any such deposit may be reduced by the Amounts Held for Future Distribution (as defined below) then on deposit in the Custodial Account. Any amounts held portion of the Amounts Held for future distribution and so Future Distribution used to pay Monthly Advances shall be replaced by the Servicer by deposit into the Custodial Account on any future Remittance Date to the extent that the funds that are available in the Custodial Account on or before any future Remittance Date if funds in for remittance to the Custodial Account Owner on such Remittance Date shall be are less than the amount of payments to the Owner required to be made to the Owner on such Remittance Date. The Servicer's obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full final disposition or liquidation of the Mortgage LoanMortgaged Property, or through unless the last Remittance Date prior Servicer deems such advance to the Remittance Date for the distribution of all be nonrecoverable from Liquidation Proceeds and other payments or recoveries (including Proceeds, REO Disposition Proceeds, Proceeds or Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular applicable Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverablelatter event, the Servicer shall provide deliver to the Owner with a certificate signed by an Officer's Certificate of the Servicer to the effect that an officer of the Servicer evidencing such determinationhas reviewed the related Servicing File and has obtained a recent appraisal and has made the reasonable determination that any additional advances are nonrecoverable from Liquidation or Insurance Proceeds with respect to the applicable Mortgage Loan.

Monthly Advances by the Servicer. On Not later than the close of business on the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution an amount equal to all payments not previously advanced by the Servicer, whether or not deferred pursuant to Section 4.01, of Monthly Payments (with interest Payments, adjusted to the related Mortgage Loan Remittance Rate) , which were due on the Mortgage Loans during the applicable Due Period and which were are delinquent at the close of business on the immediately preceding related Determination Date or which were deferred pursuant to Section 4.01Date; provided, however, that the amount of any such deposit may be reduced by the Amount Held for Future Distribution (as defined below) then on deposit in the Custodial Account. Any amounts held portion of the Amount Held for future distribution and so Future Distribution used to pay Monthly Advances shall be replaced by the Servicer by deposit into the Custodial Account on any future Remittance Date to the extent that the funds that are available in the Custodial Account for remittance to the Owner on or before any future such Remittance Date if funds are less than the amount of payments required to be made to the Owner on such Remittance Date. The "Amount Held for Future Distribution" as to any Remittance Date shall be the total of the amounts held in the Custodial Account at the close of business on the preceding Determination Date which were received after the related Servicing Transfer Date on account of (i) Liquidation Proceeds, Insurance Proceeds, and Principal Prepayments received or made in the month of such Remittance Date shall be less than Date, and (ii) payments which represent early receipt of scheduled payments of principal and interest due on a date or dates subsequent to the Owner required to be made on such Remittance related Due Date. The Servicer's obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full final disposition or liquidation of the Mortgage LoanMortgaged Property, or through unless the last Remittance Date prior Servicer deems such advance to the Remittance Date for the distribution of all be nonrecoverable from Liquidation Proceeds and other payments or recoveries (including Proceeds, REO Disposition Proceeds, Proceeds or Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular applicable Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverablelatter event, the Servicer shall provide deliver to the Owner with a certificate signed by an Officer's Certificate of the Servicer to the effect that an officer of the Servicer evidencing such determinationhas reviewed the related Servicing File and has obtained a recent appraisal and has made the reasonable determination that any additional advances are nonrecoverable from Liquidation or Insurance Proceeds with respect to the applicable Mortgage Loan.

Monthly Advances by the Servicer. Subject to the conditions of this Article V, the Servicer, as required below, shall make a Monthly Advance to the Certificate Account maintained by the Trustee, in the amount, if any, of the aggregate Monthly Payments less Prepayment Interest Shortfalls and Relief Act Shortfalls, after adjustment of the interest portion of each such Monthly Payment to the Mortgage Rate less the applicable Servicing Fee Rate, on the Mortgage Loans that were due on the Due Date but that were not received and remitted to the Certificate Account on or prior to the Servicer Advance Date. The Servicer shall be obligated to make any such Monthly Advance only to the extent that such advance, in the good faith judgment of the Servicer, will be recoverable by the Servicer from Insurance Proceeds, Liquidation Proceeds (less Liquidation Expenses), or otherwise on the related Mortgage Loan. On the Business Day Determination Date immediately preceding each Remittance the related Distribution Date, the Servicer shall deposit determine whether and to what extent any Mortgagor has failed to make any Monthly Payment due on the Due Date and whether such deficiencies, if advanced by the Servicer, would be recoverable by the Servicer from related Insurance Proceeds or Liquidation Proceeds (net of Liquidation Expenses). If the Servicer shall have determined that it is not obligated to make the entire Monthly Advance because all or a lesser portion of such Monthly Advance would not be recoverable by the Servicer from related Insurance Proceeds or Liquidation Proceeds (net of Liquidation Expenses), the Servicer shall deliver to the Trustee, not less than two Business Days prior to the related Distribution Date, for the benefit of the Certificateholders and the Insurer, an Officers' Certificate setting forth the reasons for such determination. In lieu of making all or a portion of any Monthly Advance, the Servicer may cause to be made an appropriate entry in its records relating to the Custodial Account from that funds in such account, including but not limited to any amounts received in respect of scheduled principal and interest on any Mortgage due after the related Due Period, in excess of the Available Distribution Amount (less the amount of such Monthly Advance) for the related Distribution Date have been used by the Servicer in discharge of its own funds or from amounts held for future distribution an amount equal obligation to all make any such Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 4.01Advance. Any amounts held for future distribution and funds so used applied shall be replaced by the Servicer by deposit deposit, in the manner set forth above, in the Custodial Account on or before any future Remittance no later than the Servicer Advance Date if to the extent that funds in the Custodial Account on such Remittance Date shall be date are less than payments to the Owner amounts required to be made distributed on such Remittance the related Distribution Date. The Servicer's obligation Servicer shall be entitled to make such be reimbursed from the Custodial Account for all Monthly Advances of its own funds made pursuant to this Section as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment provided in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including REO Disposition Proceeds, Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverable, the Servicer shall provide the Owner with a certificate signed by an officer of the Servicer evidencing such determinationSection 3.09.

Monthly Advances by the Servicer. (1) On the Business Day immediately preceding or prior to each related Remittance Date, the Servicer shall either (a) deposit in the Custodial Collection Account from its own funds or from amounts held for future distribution an amount equal to the aggregate amount of all Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date (each such advance, a "P&I Advance"), (b) cause to be made an appropriate entry in the records of the Collection Account that amounts held for future distribution have been, as permitted by this Section 6.03, used by the Servicer in discharge of any such P&I Advance or which were deferred pursuant (c) make P&I Advances in the form of any combination of (a) or (b) aggregating the total amount of advances to Section 4.01be made. Any amounts held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Collection Account on or before any future Remittance Date if funds in the Custodial Collection Account on such Remittance Date shall be less than payments to the Owner Purchaser required to be made on such Remittance Date. The Servicer's obligation to make such Monthly P&I Advances as to any Mortgage Loan is mandatory and will continue through the last Monthly Payment due prior to the payment in full of the a Mortgage Loan, or through the last related Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including REO Disposition Proceedsproceeds under any title, Insurance Proceeds and Condemnation Proceedshazard or other insurance policy, or condemnation awards) with respect to the a Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determinesServicer, in its sole reasonable opiniongood faith judgment, determines that advances with respect such P&I Advances would not be a Nonrecoverable Advance pursuant to such Mortgage Loan are non-recoverable Section 6.04. The determination by the Servicer from Liquidation Proceedsthat a P&I Advance, Insurance Proceedsif made, Condemnation Proceedswould be a Nonrecoverable Advance, or otherwise with respect shall be evidenced by an Officer's Certificate of the Servicer, delivered to a particular Mortgage Loanthe Purchaser, which details the reasons for such determination. In the event that the Servicer determines that any such advances are non-recoverable, the The Servicer shall provide not have any obligation to advance amounts in respect of shortfalls relating to the Owner with a certificate signed by an officer of the Servicer evidencing such determinationServicemembers Civil Relief Act and similar state and local laws.

Monthly Advances by the Servicer. On the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution an amount equal to all Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 4.01. Any amounts held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account on or before any future Remittance Date if funds in the Custodial Account on such Remittance Date shall be less than payments to the Owner required to be made on such Remittance Date. The Servicer's ’s obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including REO Disposition Proceeds, Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverable, the Servicer shall provide the Owner with a certificate signed by an officer of the Servicer evidencing such determination.

Monthly Advances by the Servicer. On Not later than the close of business on the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution an amount equal to all payments not previously advanced by the Servicer, whether or not deferred pursuant to Section 4.01, of Monthly Payments (with interest Payments, adjusted to the related Mortgage Loan Remittance Rate) , which were due on the Mortgage Loans during the applicable Due Period and which were are delinquent at the close of business on the immediately preceding related Determination Date or which were deferred pursuant Date; provided, however, that the amount of any such deposit may be reduced by (i) the Amount Held for Future Distribution (as defined below) then on deposit in the Custodial Account, plus (ii) with respect to Section 4.01the initial Remittance Date, the Non-held Early Pay Amount (as defined below). Any amounts held portion of the Amount Held for future distribution and so Future Distribution used to pay Monthly Advances shall be replaced by the Servicer by deposit into the Custodial Account on any future Remittance Date to the extent that the funds that are available in the Custodial Account for remittance to the Owner on or before any future such Remittance Date if funds are less than the amount of payments required to be made to the Owner on such Remittance Date. The "Amount Held for Future Distribution" as to any Remittance Date shall be the total of the amounts held in the Custodial Account at the close of business on the preceding Determination Date which were received after the Cut-off Date on account of (i) Liquidation Proceeds, Insurance Proceeds, and Partial Principal Prepayments received or made in the month of such Remittance Date Date, (ii) Full Principal Payments received after the 15th day of the month in the month of such Remittance Date, and (iii) payments which represent early receipt of scheduled payments of principal and interest due on a date or dates subsequent to the related Due Date. The "Non- held Early Pay Amount" shall be less than the total of the amounts on account of payments which represent early receipt of scheduled payments of principal and interest received on or prior to the Owner required to be made on such Remittance Cut-off Date. The Servicer's obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full final disposition or liquidation of the Mortgage LoanMortgaged Property, or through unless the last Remittance Date prior Servicer deems such advance to the Remittance Date for the distribution of all be nonrecoverable from Liquidation Proceeds and other payments or recoveries (including Proceeds, REO Disposition Proceeds, Proceeds or Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular applicable Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverablelatter event, the Servicer shall provide deliver to the Owner with a certificate signed by an Officer's Certificate of the Servicer to the effect that an officer of the Servicer evidencing such determinationhas reviewed the related Servicing File and has obtained a recent appraisal and has made the reasonable determination that any additional advances are nonrecoverable from Liquidation or Insurance Proceeds with respect to the applicable Mortgage Loan.

Monthly Advances by the Servicer. On Not later than the close of business on the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution an amount equal to all payments not previously advanced by the Servicer, whether or not deferred pursuant to Section 4.01, of Monthly Payments (with interest Payments, adjusted to the related Mortgage Loan Remittance Rate) , which were due on the Mortgage Loans during the applicable Due Period and which were are delinquent at the close of business on the immediately preceding related Determination Date or which were deferred pursuant Date; provided, however, that the amount of any such deposit may be reduced by (i) the Amount Held for Future Distribution (as defined below) then on deposit in the Custodial Account, plus (ii) with respect to Section 4.01the initial Remittance Date, the Non-held Early Pay Amount (as defined below). Any amounts held portion of the Amount Held for future distribution and so Future Distribution used to pay Monthly Advances shall be replaced by the Servicer by deposit into the Custodial Account on any future Remittance Date to the extent that the funds that are available in the Custodial Account on or before any future Remittance Date if funds in for remittance to the Custodial Account Owner on such Remittance Date shall be are less than the amount of payments to the Owner required to be made to the Owner on such Remittance Date. The “Amount Held for Future Distribution” as to any Remittance Date shall be the total of the amounts held in the Custodial Account at the close of business on the preceding Determination Date which were received after the Cut-off Date on account of (i) Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds and Principal Prepayments received or made in the month of such Remittance Date and (ii) payments which represent early receipt of Monthly Payments due on a date or dates subsequent to the related Due Date. The “Non-held Early Pay Amount” shall be the total of the amounts then on deposit in the Custodial Account on account of payments which represent early receipt of Monthly Payments received on or prior to the Cut-off Date. The Servicer's ’s obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full final disposition or liquidation of the Mortgage LoanMortgaged Property, or through unless the last Remittance Date prior Servicer deems such advance to the Remittance Date for the distribution of all be nonrecoverable from Liquidation Proceeds and other payments or recoveries (including Proceeds, REO Disposition Proceeds, Condemnation Proceeds or Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular applicable Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverablelatter event, the Servicer shall provide deliver to the Owner with a certificate signed by an Officer’s Certificate of the Servicer to the effect that an officer of the Servicer evidencing such determinationhas reviewed the related Servicing File and has obtained a recent appraisal and has made the reasonable determination that any additional advances are nonrecoverable from Liquidation Proceeds or Insurance Proceeds with respect to the applicable Mortgage Loan.

Monthly Advances by the Servicer. On Not later than the close of business on the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution an amount equal to all payments not previously advanced by the Servicer, whether or not deferred pursuant to Section 4.01, of Monthly Payments (with interest Payments, adjusted to the related Mortgage Loan Remittance Rate) , which were due on the Mortgage Loans during the applicable Due Period and which were are delinquent at the close of business on the immediately preceding related Determination Date or which were deferred pursuant Date; provided, however, that the amount of any such deposit may be reduced by (i) the Amount Held for Future Distribution (as defined below) then on deposit in the Custodial Account, plus (ii) with respect to Section 4.01the initial Remittance Date, the Non-held Early Pay Amount (as defined below). Any amounts held portion of the Amount Held for future distribution and so Future Distribution used to pay Monthly Advances shall be replaced by the Servicer by deposit into the Custodial Account on any future Remittance Date to the extent that the funds that are available in the Custodial Account for remittance to the Owner on or before any future such Remittance Date if funds are less than the amount of payments required to be made to the Owner on such Remittance Date. The "Amount Held for Future Distribution" as to any Remittance Date shall be the total of the amounts held in the Custodial Account at the close of business on the preceding Determination Date which were received after the Cut-off Date on account of (i) Liquidation Proceeds, Insurance Proceeds, and Partial Principal Prepayments received or made in the month of such Remittance Date Date, (ii) Full Principal Payments received after the 15th day of the month in the month of such Remittance Date, and (iii) payments which represent early receipt of scheduled payments of principal and interest due on a date or dates subsequent to the related Due Date. The "Non-held Early Pay Amount" shall be less than the total of the amounts on account of payments which represent early receipt of scheduled payments of principal and interest received on or prior to the Owner required to be made on such Remittance Cut-off Date. The Servicer's obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full final disposition or liquidation of the Mortgage LoanMortgaged Property, or through unless the last Remittance Date prior Servicer deems such advance to the Remittance Date for the distribution of all be nonrecoverable from Liquidation Proceeds and other payments or recoveries (including Proceeds, REO Disposition Proceeds, Proceeds or Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular applicable Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverablelatter event, the Servicer shall provide deliver to the Owner with a certificate signed by an Officer's Certificate of the Servicer to the effect that an officer of the Servicer evidencing such determinationhas reviewed the related Servicing File and has obtained a recent appraisal and has made the reasonable determination that any additional advances are nonrecoverable from Liquidation or Insurance Proceeds with respect to the applicable Mortgage Loan.

Monthly Advances by the Servicer. On Not later than the close of business on the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Servicing Account from its own funds or from amounts held for future distribution an amount equal to all the aggregate Minimum Monthly Payments (net of the Servicing Fee and, in the case of a Lender PMI Mortgage Loan, net of the premium for the Primary Mortgage Insurance Policy with interest adjusted respect to that Mortgage Loan) on the Mortgage Loan Remittance Rate) which Loans that were due on the Mortgage Loans during related Due Date and not received by the applicable Due Period and which were delinquent at Servicer as of the close of business on the immediately related Determination Date, together with an amount equivalent to the Minimum Monthly Payment that would have been due on each Mortgage Loan as to which the related Mortgaged Property is an REO Property had such Mortgaged Property not become REO Property and such Mortgage Loan had remained outstanding, less the aggregate amount of any such delinquent Minimum Monthly Payments that the Servicer has determined would constitute a Nonrecoverable Advance if advanced. Notwithstanding the preceding Determination Date or which were deferred pursuant sentence, so long as the current long-term credit rating of CHL is at least “A-” by S&P and “A3” by Xxxxx’x, the Servicer shall be permitted to Section 4.01make an appropriate entry in its records relating to the Custodial Account that any Amount Held for Future Distribution has been used by the Servicer in discharge of its obligation to make any such Monthly Advance. Any amounts held for future distribution and funds so used applied shall be replaced by the Servicer by deposit in the Custodial Account no later than the close of business on or before any future Remittance Date if funds in the Custodial Account on such Remittance Date shall be less than payments to the Owner required to be made on such next Remittance Date. The Servicer's ’s obligation to make such Monthly Advances advances as to any Mortgage Loan will continue through the earliest of: (i) the last Monthly Payment due prior to the payment in full of the Mortgage Loan, or through (ii) the last Remittance Date prior to the Remittance Date for the distribution of all any Liquidation Proceeds and other payments or recoveries (including REO Disposition Proceeds, Other Insurance Proceeds or Condemnation Proceeds which, in the case of Other Insurance Proceeds and Condemnation Proceeds, satisfy in full the indebtedness of such Mortgage Loan, and (iii) with respect the Remittance Date prior to the Mortgage Loan; provided, however, that such obligation date on which cash is received in connection with the liquidation of REO Property. In no event shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect be obligated to make an advance under this Section 11.18 if at the time of such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to advance it deems such advance would be a particular Mortgage LoanNonrecoverable Advance. In the event that If the Servicer determines that any such advances are non-recoverableadvance made or proposed to be made is or would be, as the case may be, a Nonrecoverable Advance, the Servicer shall provide deliver to the Owner with a certificate signed by Purchaser an Officer’s Certificate of the Servicer to the effect that an officer of the Servicer evidencing such determinationhas reviewed the related Mortgage File and has made the reasonable determination that any previous and any additional advances are Nonrecoverable Advances.

Monthly Advances by the Servicer. Subject to the conditions of this Article V, the Servicer, as required below, shall make a Monthly Advance to the Certificate Account maintained by the Trustee, in the amount, if any, of the aggregate Monthly Payments less Prepayment Interest Shortfalls and Relief Act Shortfalls, after adjustment of the interest portion of each such Monthly Payment to the Mortgage Rate less the applicable Servicing Fee Rate, on the Mortgage Loans that were due on the Due Date but that were not received and remitted to the Certificate Account on or prior to the Servicer Advance Date. The Servicer shall be obligated to make any such Monthly Advance only to the extent that such advance, in the good faith judgment of the Servicer, will be recoverable by the Servicer from Insurance Proceeds, Liquidation Proceeds (less Liquidation Expenses), or otherwise on the related Mortgage Loan. On the Business Day Determination Date immediately preceding each Remittance the related Distribution Date, the Servicer shall deposit determine whether and to what extent any Mortgagor has failed to make any Monthly Payment due on the Due Date and whether such deficiencies, if advanced by the Servicer, would be recoverable by the Servicer from related Insurance Proceeds or Liquidation Proceeds (net of Liquidation Expenses). If the Servicer shall have determined that it is not obligated to make the entire Monthly Advance because all or a lesser portion of such Monthly Advance would not be recoverable by the Servicer from related Insurance Proceeds or Liquidation Proceeds (net of Liquidation Expenses), the Servicer shall deliver to the Trustee, not less than two Business Days prior to the related Distribution Date, for the benefit of the Certificateholders and the Insurer, an Officers' Certificate setting forth the reasons for such determination. In lieu of making all or a portion of any Monthly Advance, the Servicer may cause to be made an appropriate entry in its records relating to the Custodial Account from that funds in such account, including but not limited to any amounts received in respect of scheduled principal and interest on any Mortgage due aailable Distribution Amount (less the amount of such Monthly Advance) for the related Distribution Date have been used by the Servicer in discharge of its own funds or from amounts held for future distribution an amount equal obligation to all make any such Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 4.01Advance. Any amounts held for future distribution and funds so used applied shall be replaced by the Servicer by deposit deposit, in the manner set forth above, in the Custodial Account on or before any future Remittance no later than the Servicer Advance Date if to the extent that funds in the Custodial Account on such Remittance Date shall be date are less than payments to the Owner amounts required to be made distributed on such Remittance the related Distribution Date. The Servicer's obligation Servicer shall be entitled to make such be reimbursed from the Custodial Account for all Monthly Advances of its own funds made pursuant to this Section as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment provided in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including REO Disposition Proceeds, Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverable, the Servicer shall provide the Owner with a certificate signed by an officer of the Servicer evidencing such determinationSection 3.09.

Monthly Advances by the Servicer. On Not later than the close of business on the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution an amount equal to all Monthly Payments payments not previously advanced by the Servicer, whether or not deferred pursuant to Section 4.01, of principal (with due after the Cut-off Date) and interest adjusted not allocable to the period prior to the Cut-off Date, at the Mortgage Loan Remittance Rate) Rate which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 4.01. Any amounts held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account on or before any future Remittance Date if funds in the Custodial Account on such Remittance Date shall be less than payments to the Owner required to be made on such Remittance Date. The Servicer's obligation to make such Monthly Advances as is mandatory, notwithstanding any other provision of this Agreement, and, with respect to any Mortgage Loan or REO Property, will continue through the last Monthly Payment due prior to the payment until a Final Recovery Determination in full of the Mortgage Loanconnection therewith, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including REO Disposition Proceeds, Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular Mortgage LoanNonrecoverable Monthly Advances. In the event that the Servicer determines that any such advances are non-recoverableis a Nonrecoverable Monthly Advance, the Servicer shall provide the Owner with a certificate an Officer's Certificate signed by an authorized officer of the Servicer evidencing such determination. The Servicer shall not have an obligation to make such Monthly Advances as to any Mortgage Loan with respect to shortfalls relating to the Servicemembers Civil Relief Act or similar state and local laws.

Monthly Advances by the Servicer. Subject to the conditions of this Article V, the Servicer, as required below, shall make a Monthly Advance to the Certificate Account maintained by the Trustee, in the amount, if any, of the aggregate Monthly Payments less Prepayment Interest Shortfalls and Relief Act Reductions, after adjustment of the interest portion of each such Monthly Payment to the Mortgage Rate less the applicable Servicing Fee Rate and the Retained Yield Rate, on the Mortgage Loans that were due on the Due Date but that were not received and remitted to the Certificate Account on or prior to the Servicer Advance Date. The Servicer shall be obligated to make any such Monthly Advance only to the extent that such advance, in the good faith judgment of the Servicer, will be recoverable by the Servicer from Insurance Proceeds, Liquidation Proceeds (less Liquidation Expenses), or otherwise on the related Mortgage Loan. On the Business Day Determination Date immediately preceding each Remittance the related Distribution Date, the Servicer shall deposit determine whether and to what extent any Mortgagor has failed to make any Monthly Payment due on the Due Date and whether such deficiencies, if advanced by the Servicer, would be recoverable by the Servicer from related Insurance Proceeds or Liquidation Proceeds (net of Liquidation Expenses). If the Servicer shall have determined that it is not obligated to make the entire Monthly Advance because all or a lesser portion of such Monthly Advance would not be recoverable by the Servicer from related Insurance Proceeds or Liquidation Proceeds (net of Liquidation Expenses), the Servicer shall deliver to the Trustee, not later than the 18th day of the related calendar month (or the next succeeding Business Day if the 18th is not a Business Day), for the benefit of the Certificateholders, an Officers' Certificate setting forth the reasons for such determination. In lieu of making all or a portion of any Monthly Advance, the Servicer may cause to be made an appropriate entry in its records relating to the Custodial Account from that funds in such account, including but not limited to any amounts received in respect of scheduled principal and interest on any Mortgage due after the related Due Period, in excess of the Available Distribution Amount (less the amount of such Monthly Advance) for the related Distribution Date have been used by the Servicer in discharge of its own funds or from amounts held for future distribution an amount equal obligation to all make any such Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 4.01Advance. Any amounts held for future distribution and funds so used applied shall be replaced by the Servicer by deposit deposit, in the manner set forth above, in the Custodial Account on or before any future Remittance no later than the Servicer Advance Date if to the extent that funds in the Custodial Account on such Remittance Date shall be date are less than payments to the Owner amounts required to be made distributed on such Remittance the related Distribution Date. The Servicer's obligation Servicer shall be entitled to make such be reimbursed from the Custodial Account for all Monthly Advances of its own funds made pursuant to this Section as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment provided in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including REO Disposition Proceeds, Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverable, the Servicer shall provide the Owner with a certificate signed by an officer of the Servicer evidencing such determinationSection 3.09.

Monthly Advances by the Servicer. Subject to the conditions of this Article V, the Servicer, as required below, shall make a Monthly Advance to the Certificate Account maintained by the Trustee, in the amount, if any, of the aggregate Monthly Payments less Prepayment Interest Shortfalls and Relief Act Shortfalls, after adjustment of the interest portion of each such Monthly Payment to the Mortgage Rate less the applicable Servicing Fee Rate, on the Mortgage Loans that were due on the Due Date but that were not received and remitted to the Certificate Account on or prior to the Servicer Advance Date. The Servicer shall be obligated to make any such Monthly Advance only to the extent that such advance, in the good faith judgment of the Servicer, will be recoverable by the Servicer from Insurance Proceeds, Liquidation Proceeds (less Liquidation Expenses), or otherwise on the related Mortgage Loan. On the Business Day Determination Date immediately preceding each Remittance the related Distribution Date, the Servicer shall deposit determine whether and to what extent any Mortgagor has failed to make any Monthly Payment due on the Due Date and whether such deficiencies, if advanced by the Servicer, would be recoverable by the Servicer from related Insurance Proceeds or Liquidation Proceeds (net of Liquidation Expenses). If the Servicer shall have determined that it is not obligated to make the entire Monthly Advance because all or a lesser portion of such Monthly Advance would not be recoverable by the Servicer from related Insurance Proceeds or Liquidation Proceeds (net of Liquidation Expenses), the Servicer shall deliver to the Trustee, not less than two Business Days prior to the related Distribution Date, for the benefit of the Certificateholders [and the Insurer], an Officers' Certificate setting forth the reasons for such determination. In lieu of making all or a portion of any Monthly Advance, the Servicer may cause to be made an appropriate entry in its records relating to the Custodial Account from that funds in such account, including but not limited to any amounts received in respect of scheduled principal and interest on any Mortgage due after the related Due Period, in excess of the Available Distribution Amount (less the amount of such Monthly Advance) for the related Distribution Date have been used by the Servicer in discharge of its own funds or from amounts held for future distribution an amount equal obligation to all make any such Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 4.01Advance. Any amounts held for future distribution and funds so used applied shall be replaced by the Servicer by deposit deposit, in the manner set forth above, in the Custodial Account on or before any future Remittance no later than the Servicer Advance Date if to the extent that funds in the Custodial Account on such Remittance Date shall be date are less than payments to the Owner amounts required to be made distributed on such Remittance the related Distribution Date. The Servicer's obligation Servicer shall be entitled to make such be reimbursed from the Custodial Account for all Monthly Advances of its own funds made pursuant to this Section as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment provided in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including REO Disposition Proceeds, Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverable, the Servicer shall provide the Owner with a certificate signed by an officer of the Servicer evidencing such determinationSection 3.09.

Monthly Advances by the Servicer. On Not later than the close of business on the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution an amount equal to all Monthly Payments (with interest payments not previously advanced by the Servicer, whether or not deferred pursuant to Section 4.01, of principal and interest, adjusted to the related Mortgage Loan Remittance Rate) , which were due on the Mortgage Loans during the applicable Due Period and which were are delinquent at the close of business on the immediately preceding related Determination Date or which were deferred pursuant Date; provided, however, that the amount of any such deposit may be reduced by (i) the Amount Held for Future Distribution (as defined below) then on deposit in the Custodial Account, plus (ii) with respect to Section 4.01the initial Remittance Date, the Non-held Early Pay Amount (as defined below). Any amounts held portion of the Amount Held for future distribution and so Future Distribution used to pay Monthly Advances shall be replaced by the Servicer by deposit into the Custodial Account on any future Remittance Date to the extent that the funds that are available in the Custodial Account for remittance to the Owner on or before any future such Remittance Date if funds are less than the amount of payments required to be made to the Owner on such Remittance Date. The "Amount Held for Future Distribution" as to any Remittance Date shall be the total of the amounts held in the Custodial Account at the close of business on the preceding Determination Date which were received after the Cut-off Date on account of (i) Liquidation Proceeds, Insurance Proceeds, Principal Prepayments, received or made in the month of such Remittance Date and (ii) payments which represent early receipt of scheduled payments of principal and interest due on a date or dates subsequent to the related Due Date. The "Non-held Early Pay Amount" shall be less than the total of the amounts on account of payments which represent early receipt of scheduled payments of principal and interest received on or prior to the Owner required to be made on such Remittance Cut-off Date. The Servicer's obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full final disposition or liquidation of the Mortgage LoanMortgaged Property, or through unless the last Remittance Date prior Servicer deems such advance to the Remittance Date for the distribution of all be nonrecoverable from Liquidation Proceeds and other payments or recoveries (including Proceeds, REO Disposition Proceeds, Proceeds or Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular applicable Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverablelatter event, the Servicer shall provide deliver to the Owner with a certificate signed by an Officer's Certificate of the Servicer to the effect that an officer of the Servicer evidencing has reviewed the related Mortgage File and has obtained a recent appraisal and has made the reasonable determination that any additional advances are nonrecoverable from Liquidation or Insurance Proceeds with respect to the applicable Mortgage Loan. The Servicer shall have the right at any time, pursuant to Section 4.05(iv), to withdraw funds on deposit in the Custodial Account to reimburse itself for any unreimbursed Monthly Advances made by Servicer pursuant to this Section 5.03 which are not permanently reimbursable on a loan-level basis pursuant to Sections 4.05(ii) and 4.05(iii). Such amounts so reimbursed to the Servicer pursuant to Section 4.05(iv) are defined therein as "Temporary Reimbursement" and are required to be replaced by the Servicer pursuant to Section 4.04(x) by deposit into the Custodial Account on the Business Day prior to any Remittance Date to the extent that the funds that are available in the Custodial Account for remittance to the Owner on such determinationRemittance Date are less than the amount of payments required to be made to the Owner on such Remittance Date.

Monthly Advances by the Servicer. Subject to the conditions of this Article V, the Servicer, as required below, shall make a Monthly Advance to the Certificate Account maintained by the Trustee, in the amount, if any, of the aggregate Monthly Payments less Prepayment Interest Shortfalls and Relief Act Shortfalls, after adjustment of the interest portion of each such Monthly Payment to the Mortgage Rate less the applicable Servicing Fee Rate, on the Mortgage Loans that were due on the Due Date but that were not received and remitted to the Certificate Account on or prior to the Servicer Advance Date. The Servicer shall be obligated to make any such Monthly Advance only to the extent that such advance, in the good faith judgment of the Servicer, will be recoverable by the Servicer from Insurance Proceeds, Liquidation Proceeds (less Liquidation Expenses), or otherwise on the related Mortgage Loan. On the Business Day Determination Date immediately preceding each Remittance the related Distribution Date, the Servicer shall deposit determine whether and to what extent any Mortgagor has failed to make any Monthly Payment due on the Due Date and whether such deficiencies, if advanced by the Servicer, would be recoverable by the Servicer from related Insurance Proceeds or Liquidation Proceeds (net of Liquidation Expenses). If the Servicer shall have determined that it is not obligated to make the entire Monthly Advance because all or a lesser portion of such Monthly Advance would not be recoverable by the Servicer from related Insurance Proceeds or Liquidation Proceeds (net of Liquidation Expenses), the Servicer shall deliver to the Trustee, not less than two Business Days prior to the related Distribution Date, for the benefit of the Certificateholders and the Certificate Insurer, an Officers' Certificate setting forth the reasons for such determination. In lieu of making all or a portion of any Monthly Advance, the Servicer may cause to be made an appropriate entry in its records relating to the Custodial Account from that funds in such account, including but not limited to any amounts received in respect of scheduled principal and interest on any Mortgage due after the related Due Period, in excess of the Available Distribution Amount (less the amount of such Monthly Advance) for the related Distribution Date have been used by the Servicer in discharge of its own funds or from amounts held for future distribution an amount equal obligation to all make any such Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 4.01Advance. Any amounts held for future distribution and funds so used applied shall be replaced by the Servicer by deposit deposit, in the manner set forth above, in the Custodial Account on or before any future Remittance no later than the Servicer Advance Date if to the extent that funds in the Custodial Account on such Remittance Date shall be date are less than payments to the Owner amounts required to be made distributed on such Remittance the related Distribution Date. The Servicer's obligation Servicer shall be entitled to make such be reimbursed from the Custodial Account for all Monthly Advances of its own funds made pursuant to this Section as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment provided in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including REO Disposition Proceeds, Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverable, the Servicer shall provide the Owner with a certificate signed by an officer of the Servicer evidencing such determinationSection 3.09.

Monthly Advances by the Servicer. Subject to the conditions of this Article V, the Servicer, as required below, shall make a Monthly Advance to the Certificate Account maintained by the Trustee, in the amount, if any, of the aggregate Monthly Payments less Prepayment Interest Shortfalls and Relief Act Reductions, after adjustment of the interest portion of each such Monthly Payment to the Mortgage Rate less the applicable Servicing Fee Rate, on the Mortgage Loans that were due on the Due Date but that were not received and remitted to the Certificate Account on or prior to the Servicer Advance Date. The Servicer shall be obligated to make any such Monthly Advance only to the extent that such advance, in the good faith judgment of the Servicer, will be recoverable by the Servicer from Insurance Proceeds, Liquidation Proceeds (less Liquidation Expenses), or otherwise on the related Mortgage Loan. On the Business Day Determination Date immediately preceding each Remittance the related Distribution Date, the Servicer shall deposit determine whether and to what extent any Mortgagor has failed to make any Monthly Payment due on the Due Date and whether such deficiencies, if advanced by the Servicer, would be recoverable by the Servicer from related Insurance Proceeds or Liquidation Proceeds (net of Liquidation Expenses). If the Servicer shall have determined that it is not obligated to make the entire Monthly Advance because all or a lesser portion of such Monthly Advance would not be recoverable by the Servicer from related Insurance Proceeds or Liquidation Proceeds (net of Liquidation Expenses), the Servicer shall deliver to the Trustee, not less than two Business Days prior to the related Distribution Date, for the benefit of the Certificateholders, an Officers' Certificate setting forth the reasons for such determination. In lieu of making all or a portion of any Monthly Advance, the Servicer may cause to be made an appropriate entry in its records relating to the Custodial Account from that funds in such account, including but not limited to any amounts received in respect of scheduled principal and interest on any Mortgage due after the related Due Period, in excess of the Available Distribution Amount (less the amount of such Monthly Advance) for the related Distribution Date have been used by the Servicer in discharge of its own funds or from amounts held for future distribution an amount equal obligation to all make any such Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 4.01Advance. Any amounts held for future distribution and funds so used applied shall be replaced by the Servicer by deposit deposit, in the manner set forth above, in the Custodial Account on or before any future Remittance no later than the Servicer Advance Date if to the extent that funds in the Custodial Account on such Remittance Date shall be date are less than payments to the Owner amounts required to be made distributed on such Remittance the related Distribution Date. The Servicer's obligation Servicer shall be entitled to make such be reimbursed from the Custodial Account for all Monthly Advances of its own funds made pursuant to this Section as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment provided in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including REO Disposition Proceeds, Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverable, the Servicer shall provide the Owner with a certificate signed by an officer of the Servicer evidencing such determinationSection 3.09.

Monthly Advances by the Servicer. On the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Account from its own funds or from amounts held for future distribution an amount equal to all Monthly Payments (with interest adjusted to a rate equal to the excess of the mortgage rate specified in the Mortgage Loan Remittance RateNote over the rate of the Servicing Fee) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the Business Day immediately preceding Determination Date or which were deferred pursuant to Section 4.01such Remittance Date. Any amounts held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Account on or before any future Remittance Date if funds in the Custodial Account on such Remittance Date shall be less than payments to the Owner Servicer required to be made on such Remittance Date. The Following a Pass-Through Transfer, the Guarantor, in its reasonable judgment, shall have the right to require the Servicer to remit, from its own funds, to the Custodial Account an amount equal to all advances previously made with respect to the Reconstituted Mortgage Loans out of funds held in the Custodial Account and not previously repaid from collections on the Reconstituted Mortgage Loans, and in such event, the Servicer shall thereafter remit all advances with respect to the Reconstituted Mortgage Loans from its own funds. In no event shall the preceding sentence be construed as limiting the Servicer's right to (i) pass through late collections on the Mortgages related to the Reconstituted Mortgage Loans in lieu of making advances or (ii) reimburse itself for such advances from late collections on such Mortgages. Subject to the provisions of Section 2.04, the Servicer's obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full of the Mortgage Loan, or through the earlier of: (i) the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including REO Disposition Proceeds, Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage LoanLoan and (ii) the Remittance Date prior to the date the Mortgage Loan is converted to REO Property; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are nonNon-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverable, the Servicer shall provide the Owner with a certificate signed by an officer of the Servicer evidencing such determinationRecoverable Advances.

Monthly Advances by the Servicer. On the Business Day immediately preceding each Remittance Date, the Servicer shall deposit in the Custodial Protected Account from its own funds or from amounts held for future distribution an amount equal to all Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 4.01. Any amounts held for future distribution and so used shall be replaced by the Servicer by deposit in the Custodial Protected Account on or before any future Remittance Date if funds in the Custodial Protected Account on such Remittance Date shall be less than payments to the Owner Trust required to be made on such Remittance Date. The Servicer's obligation to make such Monthly Advances as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds and other payments or recoveries (including REO Disposition Proceeds, Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceedsare, or otherwise with respect to would constitute, a particular Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverable, the Servicer shall provide the Owner with a certificate signed by an officer of the Servicer evidencing such determinationNonrecoverable Advance.

Monthly Advances by the Servicer. Subject to the conditions of this Article V, the Servicer, as required below, shall make a Monthly Advance to the Certificate Account, in the amount, if any, of the aggregate Monthly Payments less Prepayment Interest Shortfalls and Relief Act Shortfalls, after adjustment of the interest portion of each such Monthly Payment to the Net Mortgage Rate or Class AR5 Net Mortgage Rate, as applicable, on the Mortgage Loans that were due on the Due Date but that were not received and remitted to the Certificate Account on or prior to the Servicer Advance Date. The Servicer shall be obligated to make any such Monthly Advance only to the extent that such advance, in the good faith judgment of the Servicer, will not be a Nonrecoverable Advance. Monthly Advances with respect to the Mortgage Loans in Loan Group 5, Loan Group 6, Loan Group 7, Loan Group 8, Loan Group 9 and the Class Y Mortgage Loans shall only be allocated to the Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, and Class Y Certificates collectively and Monthly Advances with respect to the Class AR5 Mortgage Loans shall only be allocated to the Class AR5 Certificates. On the Business Day Determination Date immediately preceding each Remittance the related Distribution Date, the Servicer shall deposit determine whether and to what extent any Mortgagor has failed to make any Monthly Payment due on the Due Date and whether such deficiencies, if advanced by the Servicer, would be a Nonrecoverable Advance. If the Servicer shall have determined that it is not obligated to make the entire Monthly Advance because all or a lesser portion of such Monthly Advance would not be recoverable by the Servicer from related Insurance Proceeds or Liquidation Proceeds (net of Liquidation Expenses), the Servicer shall deliver to the Trustee, not less than two Business Days prior to the related Distribution Date, for the benefit of the Certificateholders, a certificate of a Servicing Officer setting forth the reasons for such determination. In lieu of making all or a portion of any Monthly Advance, the Servicer may cause to be made an appropriate entry in its records relating to the Custodial Account from that funds in such account, including but not limited to any amounts received in respect of scheduled principal and interest on any Mortgage due after the related Due Period, in excess of the Available Distribution Amount (less the amount of such Monthly Advance) for the related Distribution Date have been used by the Servicer in discharge of its own funds or from amounts held for future distribution an amount equal obligation to all make any such Monthly Payments (with interest adjusted to the Mortgage Loan Remittance Rate) which were due on the Mortgage Loans during the applicable Due Period and which were delinquent at the close of business on the immediately preceding Determination Date or which were deferred pursuant to Section 4.01Advance. Any amounts held for future distribution and funds so used applied shall be replaced by the Servicer by deposit deposit, in the manner set forth above, in the Custodial Account on or before any future Remittance no later than the Servicer Advance Date if to the extent that funds in the Custodial Account on such Remittance Date shall be date are less than payments to the Owner amounts required to be made distributed on such Remittance the related Distribution Date. The Servicer's obligation Servicer shall be entitled to make such be reimbursed from the Custodial Account and the Certificate Account for all Monthly Advances of its own funds made pursuant to this Section as to any Mortgage Loan will continue through the last Monthly Payment due prior to the payment provided in full of the Mortgage Loan, or through the last Remittance Date prior to the Remittance Date for the distribution of all Liquidation Proceeds Section 3.09 and other payments or recoveries (including REO Disposition Proceeds, Insurance Proceeds and Condemnation Proceeds) with respect to the Mortgage Loan; provided, however, that such obligation shall cease if the Servicer determines, in its sole reasonable opinion, that advances with respect to such Mortgage Loan are non-recoverable by the Servicer from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds, or otherwise with respect to a particular Mortgage Loan. In the event that the Servicer determines that any such advances are non-recoverable, the Servicer shall provide the Owner with a certificate signed by an officer of the Servicer evidencing such determination4.01.