Non Recoverable Advances. If the Servicer does not make an Advance on the grounds that it is a Non-Recoverable Advance, or if an Advance previously made by the Servicer is determined by the Servicer to have become a Non-Recoverable Advance, then the Servicer shall provide the Trustee with an Officer's Certificate stating this fact and stating the basis upon which the Servicer determined that such Advance would be or was a Non-Recoverable Advance. The Trustee shall not be responsible for determining whether any such determination was reasonable.
Appears in 9 contracts
Samples: Pooling and Servicing Agreement (Deutsche Financial Capital Securitization LLC), Pooling and Servicing Agreement (Bombardier Capital Mortgage Securitization Corp), Pooling and Servicing Agreement (Bombardier Capital Mortgage Securitization Corp)
Non Recoverable Advances. If the Servicer does not make an Advance on the grounds that it is a Non-Recoverable Advance, or if an Advance previously made by the Servicer is determined by the Servicer to have become a Non-Recoverable Advance, then the Servicer shall provide the Trustee with an Officer's Certificate stating this fact and stating the basis upon which the Servicer determined that such Advance would be or was a Non-Recoverable NonRecoverable Advance. The Trustee shall not be responsible for determining whether any such determination was reasonable.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc), Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc), Pooling and Servicing Agreement (Deutsche Financial Capital Securitization LLC)
Non Recoverable Advances. If the Servicer does not make an Advance on the grounds that it is a Non-Recoverable Advance, or if an Advance previously made by the Servicer is determined by the Servicer to have become a Non-Recoverable Advance, then the Servicer shall provide the Trustee with an Officer's Certificate stating this fact and stating the basis upon which the Servicer determined that such Advance would be or was a Non-Recoverable Advance. The Trustee shall not be responsible for determining whether any such determination was reasonable.
SECTION 3.05. [RESERVED]
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bombardier Capital Mortgage Securitization Corp)
Non Recoverable Advances. If the Servicer does not make an Advance on ------------------------ the grounds that it is a Non-Recoverable Advance, or if an Advance previously made by the Servicer is determined by the Servicer to have become a Non-Non- Recoverable Advance, then the Servicer shall provide the Trustee with an Officer's Certificate stating this fact and stating the basis upon which the Servicer determined that such Advance would be or was a Non-Recoverable Advance. The Trustee shall not be responsible for determining whether any such determination was reasonable.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc)
