Common use of Obligations of the Subservicer Clause in Contracts

Obligations of the Subservicer. (a) The Subservicer hereby agrees to advance, until such advancing obligation terminates pursuant to Section 4.01(a) hereof, to the Trustee on behalf of the Trusts, on a Trust-by-Trust basis, on each Monthly Remittance Date, an amount (the "Subservicer Advance") equal to the Delinquency Advance (if any) for each Trust for such Monthly Remittance Date, provided that, in no event shall the Subservicer be required to advance on any Monthly Remittance Date aggregate Subservicer Advances for all Trusts in excess of $85,000,000, less the amount of any outstanding unreimbursed Subservicer Advances. In the event that the aggregate Subservicer Advances which Subservicer makes on any Monthly Remittance Date are less than the aggregate Delinquency Advances required to be made to the Trusts on that Monthly Remittance Date under the Pooling Agreements, then the Subservicer shall allocate the Subservicer Advances among the Trusts pro rata to the Delinquency Advances for each Trust, and the difference between the Subservicer Advance and the total Delinquency Advance shall be advanced to the Trust by the Servicer as a Delinquency Advance. The parties hereto agree that if the Servicer is not required to advance any portion of a Delinquency Advance as set forth in the relevant sections of the Pooling Agreements, then the Subservicer shall likewise not be required to make any Subservicer Advance with respect thereto. (b) No later than Noon on the Business Day preceding each Monthly Remittance Date, the Servicer shall deliver to the Subservicer and the Trustee a notice (the "Subservicer Advance Notice"), in the form of Exhibit I hereto, setting forth the amount of the Subservicer Advance, if any, due on such Monthly Remittance Date.

Obligations of the Subservicer. (a) The Subservicer hereby agrees to advance, until such advancing obligation terminates pursuant to Section 4.01(a) hereof, to the Trustee on behalf of the Trusts, on a Trust-by-Trust basis, on each Monthly Remittance Date, an amount (the "Subservicer Advance") equal to the Delinquency Advance (if any) for each Trust for such Monthly Remittance Date, provided that, in no event shall the Subservicer be required to advance on any Monthly Remittance Date aggregate Subservicer Advances for all Trusts in excess of $85,000,000, less the amount of any outstanding unreimbursed Subservicer Advances. In the event that the aggregate Subservicer Advances which Subservicer makes on any Monthly Remittance Date are less than the aggregate Delinquency Advances required to be made to the Trusts on that Monthly Remittance Date under the Pooling Agreements, then the Subservicer shall allocate the Subservicer Advances among the Trusts pro rata to the Delinquency Advances for each Trust, and the difference between the Subservicer Advance and the total Delinquency Advance shall be advanced to the Trust by the Servicer as a Delinquency Advance. The parties hereto agree that if the Servicer is not required to advance any portion of a Delinquency Advance as set forth in the relevant sections of the Pooling Agreements, then the Subservicer shall likewise not be required to make any Subservicer Advance with respect thereto. (b) No later than Noon on the Business Day preceding each Monthly Remittance Date, the Servicer shall deliver to the Subservicer and the Trustee a notice (the "Subservicer Advance Notice"), in the form of Exhibit I hereto, setting forth the amount of the Subservicer Advance, if any, due on such Monthly Remittance Date.