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.
Appears in 11 contracts
Samples: Pooling and Servicing Agreement (Contisecurities Asset Funding Corp), Pooling and Servicing Agreement (Contisecurities Asset Funding Corp), Pooling and Servicing Agreement (Contisecurities Asset Funding Corp)
