Common use of Reimbursement for Supplemental Delinquency Advances Clause in Contracts

Reimbursement for Supplemental Delinquency Advances. (a) The Supplemental Servicer shall be reimbursed for all Supplemental Delinquency Advances it makes. For the avoidance of doubt, the reimbursement for Supplemental Delinquency Advances and Servicer Delinquency Advances made in respect of a particular Trust Group shall be from the Net Collections of such Trust Group and not on a loan-by-loan basis and no funds shall be remitted from the Principal and Interest Account to the Trustee for deposit into the Certificate Account to the extent that there are any Supplemental Delinquency Advances that have not been reimbursed. On each Business Day during each Remittance Period on which there is an unreimbursed Supplemental Delinquency Advance, the Disbursing Agent shall, on a Trust Group-by-Trust Group basis, issue a Disbursement Notice to reimburse the Supplemental Servicer from Net Collections held in the Clearance Account for all outstanding Supplemental Delinquency Advances prior to payment of any amount from Net Collections to the Servicer (or a successor servicer) or to the Principal and Interest Account. (b) For the avoidance of doubt, notwithstanding anything contained in the Pooling Agreements to the contrary, the Servicer (or a successor servicer) is not entitled to, and may not obtain, reimbursement of Delinquency Advances in respect of any Trust Group (including, without limitation, from the Clearance Account or Principal and Interest Account) prior to the Supplemental Servicer receiving reimbursement of all Supplemental Delinquency Advances outstanding with respect to such Trust Group. (c) In the event that the Supplemental Servicer has not been reimbursed in full for Supplemental Delinquency Advances relating to a particular Trust Group, but funds relating to such Trust Group have nevertheless been deposited into the related Principal and Interest Account, then the Supplemental Servicer shall be reimbursed from such funds on deposit in such Principal and Interest Account prior to the transfer of such amounts to the Certificate Account. Such reimbursement from the Principal and Interest Account shall be made by the applicable Trust on receipt of a notice from the Disbursing Agent. (d) For the avoidance of doubt, and notwithstanding anything herein or in the Pooling Agreement to the contrary, the Servicer (or a successor servicer) shall be entitled to recover Servicer Advances on a loan-by-loan basis from the Mortgagors to the extent permitted by the Home Equity Loans, or, if not recovered from the Mortgagor on whose behalf the Servicing Advance was made, from Liquidation Proceeds realized upon the liquidation of the related Home Equity Loan prior to the payment of Liquidation Proceeds to any other party to this Amendment.