Nonrecoverable Advances. Any advance previously made by a Servicer pursuant to its Selling and Servicing Contract with respect to a Mortgage Loan or by the Master Servicer that the Master Servicer shall determine in its good faith judgment not to be ultimately recoverable from Insurance Proceeds or Liquidation Proceeds or otherwise with respect to such Mortgage Loan or recoverable as late Monthly Payments with respect to such Mortgage Loan shall be a Nonrecoverable Advance. The determination by the Master Servicer that it or the applicable Servicer has made a Nonrecoverable Advance or that any advance would constitute a Nonrecoverable Advance, shall be evidenced by an Officer's Certificate of the Master Servicer delivered to the Trustee on the Determination Date and detailing the reasons for such determination. Notwithstanding any other provision of this Agreement, any insurance policy relating to the Mortgage Loans, or any other agreement relating to the Mortgage Loans to which the Company or the Master Servicer is a party, (a) the Master Servicer and each Servicer shall not be obligated to, and shall not, make any advance that, after reasonable inquiry and in its sole discretion, the Master Servicer or such Servicer shall determine would be a Nonrecoverable Advance, and (b) the Master Servicer and each Servicer shall be entitled to reimbursement for any advance as provided in Section 3.05(a)(i), (ii) and (iv) of this Agreement.
Nonrecoverable Advances. Any advance previously made by the Servicer that the Servicer shall determine in its good faith judgment not to be ultimately recoverable from Insurance Proceeds or Liquidation Proceeds or otherwise with respect to such Mortgage Loan or recoverable as late Monthly Payments with respect to such Mortgage Loan shall be a Nonrecoverable Advance. The determination by the Servicer that it has made a Nonrecoverable Advance or that any advance would constitute a Nonrecoverable Advance shall be evidenced by an Officer’s Certificate of the Servicer delivered to the Trustee on the Determination Date and detailing the reasons for such determination. Notwithstanding any other provision of this Agreement, any insurance policy relating to the Mortgage Loans, or any other agreement relating to the Mortgage Loans to which the Company or the Servicer is a party, (a) the Servicer shall not be obligated to, and shall not, make any advance that, after reasonable inquiry and in its sole discretion, the Servicer shall determine would be a Nonrecoverable Advance and (b) the Servicer shall be entitled to reimbursement for any advance as provided in Section 3.05(a)(i) and (ii) of this Agreement.
Nonrecoverable Advances. The determination by the Servicer that it has made a Nonrecoverable Advance shall be evidenced by an Officers' Certificate of the Servicer promptly delivered to the Trustee setting forth the reasons for such determination. Following the Trustee's receipt of the Officers' Certificate, the Servicer shall be entitled to reimbursement for such Nonrecoverable Advance as provided in Section 3.09 hereof.
Nonrecoverable Advances. Notwithstanding anything herein to the contrary, no Advance or Servicing Advance shall be required to be made hereunder by the Servicer if such Advance or Servicing Advance would, if made, constitute a Nonrecoverable Advance. The determination by the Servicer that it has made a Nonrecoverable Advance or that any proposed Advance or Servicing Advance, if made, would constitute a Nonrecoverable Advance, shall be evidenced by an Officer’s Certificate of the Servicer delivered to the NIMS Insurer, the Company and the Trustee.
Nonrecoverable Advances. 101 Section 4.04. Distributions to Holders of REMIC II Regular Interests and Class R-2 Residual Interest...........................................................................101 Section 4.05. Distributions to Certificateholders; Payment of Special Primary Insurance Premiums...........................................................................101 Section 4.06. Statements to Certificateholders...................................................102 ARTICLE V The Certificates........................................................................104 -ix- TABLE OF CONTENTS (continued) Page Section 5.01. The Certificates...................................................................104 Section 5.02. Certificates Issuable in Classes; Distributions of Principal and Interest; Authorized Denominations...........................................................110 Section 5.03. Registration of Transfer and Exchange of Certificates..............................110 Section 5.04. Mutilated, Destroyed, Lost or Stolen Certificates..................................111 Section 5.05. Persons Deemed Owners..............................................................111 Section 5.06. Temporary Certificates.............................................................111 Section 5.07. Book-Entry for Book-Entry Certificates.............................................112 Section 5.08. Notices to Clearing Agency.........................................................113 Section 5.09. Definitive Certificates............................................................113 Section 5.10. Office for Transfer of Certificates................................................114 Section 5.11. Nature of Certificates.............................................................114
Nonrecoverable Advances. 37 Note ............................................. 38
Nonrecoverable Advances. (a) Any advance previously made by the Servicer with respect to a WMB-Serviced Loan that the Servicer shall determine in its good faith judgment not to be ultimately recoverable from Insurance Proceeds or Liquidation Proceeds or otherwise with respect to such WMB-Serviced Loan or recoverable as late Monthly Payments with respect to such WMB-Serviced Loan, and any such advance which, if made, would not be so recoverable, shall be a “Nonrecoverable WMB Advance”. The determination by the Servicer that it has made a Nonrecoverable WMB Advance or that any advance would constitute a Nonrecoverable WMB Advance shall be evidenced by an Officer’s Certificate of the Servicer delivered to the Trustee on the Determination Date and detailing the reasons for such determination. Notwithstanding any other provision of this Agreement, any insurance policy relating to the WMB-Serviced Loans, or any other agreement relating to the WMB-Serviced Loans to which the Company or the Servicer is a party, (a) the Servicer shall not be obligated to, and shall not, make any advance that, after reasonable inquiry and in its sole discretion, the Servicer shall determine would be a Nonrecoverable WMB Advance and (b) the Servicer shall be entitled to reimbursement for any advance as provided in Section 3.05(a)(i) and (ii) of this Agreement.
(b) Any advance previously made by the Master Servicer with respect to an MS Loan that the Master Servicer shall determine in its good faith judgment not to be ultimately recoverable from Insurance Proceeds or Liquidation Proceeds or otherwise with respect to such MS Loan or recoverable as late Monthly Payments with respect to such MS Loan, and any advance previously made by a Third Party Servicer pursuant to its Selling and Servicing Contract with respect to an MS Loan that such Third Party Servicer shall determine in its good faith judgment not to be ultimately recoverable from Insurance Proceeds or Liquidation Proceeds or otherwise with respect to such MS Loan or recoverable as late Monthly Payments with respect to such MS Loan, and any such advance which, if made, would not be so recoverable, shall be a “Nonrecoverable WMMSC Advance”. The determination by the Master Servicer that it has made a Nonrecoverable WMMSC Advance or that any advance would constitute a Nonrecoverable WMMSC Advance shall be evidenced by an Officer’s Certificate of the Master Servicer delivered to the Trustee on the Determination Date and detailing the reasons for such determ...
Nonrecoverable Advances. Any advance previously made by a Servicer pursuant to its Selling and Servicing Contract with respect to a Mortgage Loan or by the Master Servicer that the Master Servicer shall determine in its good faith judgment not to be ultimately recoverable from Insurance Proceeds or Liquidation Proceeds or otherwise with respect to such Mortgage Loan or recoverable as late Monthly Payments with respect to such Mortgage Loan shall be a Nonrecoverable Advance. The determination by the Master Servicer that it or the applicable Servicer has made a Nonrecoverable Advance or that any advance would constitute a Nonrecoverable Advance, shall be evidenced by an Officer's Certificate of the Master Servicer delivered to the Trustee on the Determination Date and detailing the reasons for such 121
Nonrecoverable Advances. The determination by the Master Servicer that it has made a Nonrecoverable Advance shall be evidenced by a certificate of a Servicing Officer promptly delivered to the Trustee setting forth the reasons for such determination. Following the Trustee's receipt of such certificate, the Master Servicer shall be entitled to reimbursement for such Nonrecoverable Advance as provided in Section 3.09 and 4.01 hereof.
Nonrecoverable Advances. 67 Section 4.5 Foreclosure Reports...........................................67 Section 4.6 Adjustment of Servicing Fees with Respect to Payoffs..........67 Section 4.7 Prohibited Transactions Taxes and Other Taxes.................68 Section 4.8
