Reimbursement of Advances upon Transfer of Servicing Sample Clauses

Reimbursement of Advances upon Transfer of Servicing. In connection with any sale or other voluntary transfer of servicing under any Designated Servicing Agreement (not including any transfer resulting from the succession of another Person to the business of the Servicer), the Servicer shall cause the Subservicer to collect reimbursement of all outstanding Advances under such Designated Servicing Agreement prior to transferring the servicing under such Designated Servicing Agreement. In connection with any other transfer of servicing under any Designated Servicing Agreement, the Servicer shall cause the Subservicer to use its commercially reasonable efforts to collect reimbursement of any outstanding collections, including indemnity or other payments in respect of such Advances, and any such collections shall be treated as Collections under this Indenture. Each of the Servicer’s and the Receivables Seller’s right to reimbursement for Advances under each Designated Servicing Agreement shall not be subject to any off-set, recoupment or other similar right.
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Reimbursement of Advances upon Transfer of Servicing. In connection with any sale or other voluntary transfer of servicing, in whole or in part, under any Designated Servicing Agreement, or any voluntary or involuntary transfer of servicing, in whole or in part, under any Designated Servicing Agreement that is a Whole Loan Servicing Agreement (not including any transfer resulting from the succession of another Person to the business of the Servicer), in either case, the Servicer shall cause the Subservicer to collect reimbursement of all outstanding Advances under such Designated Servicing Agreement prior to transferring the servicing under such Designated Servicing Agreement. In connection with any other transfer of servicing under any Designated Servicing Agreement related to a securitization trust, the Servicer shall cause the Subservicer to use its commercially reasonable efforts to collect reimbursement of any outstanding collections, including indemnity or other payments in respect of such Advances, and any such collections shall be treated as Collections under this Indenture. Each of the Servicer’s and the Receivables Seller’s right to reimbursement for Advances under each Designated Servicing Agreement shall not be subject to any off-set, recoupment or other similar right.
Sample 1Sample 2
Reimbursement of Advances upon Transfer of Servicing. In connection with any voluntary transfer of servicing under any Designated Servicing Agreement or with respect to any Designated Pool, the Servicer shall collect reimbursement of all outstanding Advances under such Designated Servicing Agreement or Designated Pool prior to transferring the servicing under such Designated Servicing Agreement or Designated Pool, except that, in the case of Delinquency Advance Receivables, a written agreement of the transferee that it will remit reimbursement of all outstanding Delinquency Advances by the next month’s remittance date shall suffice. In connection with an involuntary transfer of servicing under any Designated Servicing Agreement, the Servicer shall use best efforts to collect reimbursement of all outstanding Advances under such Designated Servicing Agreement prior to transferring the servicing under such Designated Servicing Agreement.
Sample 1
Reimbursement of Advances upon Transfer of Servicing. In connection with any sale or transfer of servicing under any Designated Servicing Agreement or with respect to any Designated Pool, the Servicer shall collect reimbursement of all outstanding Advances under such Designated Servicing Agreement or Designated Pool prior to transferring the servicing under such Designated Servicing Agreement or Designated Pool, except that, in the case of Delinquency Advance Receivables, a written agreement of the transferee that it will remit reimbursement of all outstanding Delinquency Advances by the next month’s remittance date shall suffice.
Sample 1
Reimbursement of Advances upon Transfer of Servicing. In connection with any sale or transfer of servicing under any Designated Servicing Contract or with respect to any Designated Pool, the Servicer shall collect (or cause the Subservicer to collect) reimbursement of all outstanding Advances under such Designated Servicing Contract or Designated Pool prior to transferring the servicing under such Designated Servicing Contract or Designated Pool, except that, in the case of Delinquency Advance Receivables, a written agreement of the transferee that it will remit reimbursement of all outstanding Delinquency Advances by the next month’s remittance date shall suffice.
Sample 1
Reimbursement of Advances upon Transfer of Servicing. In connection with any sale or transfer of servicing under any Servicing Contract or with respect to any Designated Pool, the Servicer shall collect the total outstanding Advance Reimbursement Amounts relating to the applicable Servicing Contract or Designated Pool prior or contemporaneously with transferring servicing under the applicable Servicing Contract or Designated Pool, except that, in the case of an Advance Reimbursement Right related to a Delinquency Advance, a written agreement of the transferee that it will remit reimbursement of such outstanding Advance Reimbursement Amount for such Delinquency Advance by the next month’s remittance date shall suffice subject in all respects to the applicable Agency Agreement (including the limited payment subordination provided in the related Agency Agreement).
Sample 1
Reimbursement of Advances upon Transfer of Servicing. In connection with any sale or transfer of servicing from any Designated Servicing Contract or out of any Designated Pool, the Servicer will remove the related Receivables in accordance with Section 2.1(c)(ii) hereof.
Sample 1
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Reimbursement of Advances upon Transfer of Servicing. In connection with any voluntary transfer of servicing under any Designated Servicing Agreement, the Servicer shall collect reimbursement of all outstanding Advances under such Designated Servicing Agreement prior to transferring the servicing under such Designated Servicing Agreement. In connection with an involuntary transfer of servicing under any Designated Servicing Agreement, the Servicer shall use best efforts to collect reimbursement of all outstanding Advances under such Designated Servicing Agreement prior to transferring the servicing under such Designated Servicing Agreement.
Sample 1

Related to Reimbursement of Advances upon Transfer of Servicing

  • Disbursement of Advance Subject to the provisions of this Agreement, the Agent shall on each Drawdown Date pay to the Borrower the amounts which the Agent receives from the Lenders under Clause 4.5; and that payment to the Borrower shall be made:

  • Disbursement of Advances (a) Upon receiving any Request for Revolving Credit Advance from Borrower under Section 2.3 hereof, Agent shall promptly notify each Revolving Credit Lender by wire, telex or telephone (confirmed by wire, telecopy or telex) of the amount of such Advance being requested and the date such Revolving Credit Advance is to be made by each Revolving Credit Lender in an amount equal to its Revolving Credit Percentage of such Advance. Unless such Revolving Credit Lender’s commitment to make Revolving Credit Advances hereunder shall have been suspended or terminated in accordance with this Agreement, each such Revolving Credit Lender shall make available the amount of its Revolving Credit Percentage of each Revolving Credit Advance in immediately available funds to Agent, as follows:

  • Repayment of Advances If the identity of the Servicer shall change, the predecessor Servicer shall be entitled to receive reimbursement for outstanding and unreimbursed Simple Interest Advances made pursuant to Section 4.4 by the predecessor Servicer.

  • Prepayment of Advances No Borrower shall have the right to prepay any principal amount of any Advances other than as provided in this Section 2.07.

  • Advances; Reimbursement of Advances (a) From time to time, (i) pursuant to terms of the Servicing Agreement, the Lead Servicer and/or the related Trustee may be obligated to make (1) Property Advances with respect to the Mortgage Loan or the Mortgaged Property and (2) P&I Advances with respect to the Lead Note and (ii) pursuant to the terms of a Non-Lead Servicing Agreement, the related Non-Lead Master Servicer and/or the related Trustee may be obligated to make P&I Advances with respect to a Non-Lead Note. The Lead Servicer and/or the related Trustee will not be required to make any P&I Advance with respect to any Non-Lead Note and the related Non-Lead Master Servicer and/or the related Trustee will not be required to make any P&I Advance with respect to any Lead Note, any other Non-Lead Note or any Property Advance. The Lead Servicer, each Non-Lead Master Servicer and any Trustee will be entitled to interest on any Advance made in the manner and from the sources provided in the Note A-1 PSA or the Note A-2 PSA, as applicable.

  • Disbursement of Advance Proceeds All Advances shall be disbursed from whichever office or other place Agent may designate from time to time and, together with any and all other Obligations of Borrowers to Agent or Lenders, shall be charged to Borrowers' Account on Agent's books. During the Term, Borrowers may use the Revolving Advances by borrowing, prepaying and reborrowing, all in accordance with the terms and conditions hereof. The proceeds of each Revolving Advance requested by Borrowers or deemed to have been requested by Borrowers under Section 2.2(a) hereof shall, with respect to requested Revolving Advances to the extent Lenders make such Revolving Advances, be made available to the applicable Borrower on the day so requested by way of credit to such Borrower's operating account at PNC, or such other bank as Borrowing Agent may designate following notification to Agent, in immediately available federal funds or other immediately available funds or, with respect to Revolving Advances deemed to have been requested by any Borrower, be disbursed to Agent to be applied to the outstanding Obligations giving rise to such deemed request.

  • Notification of Advances, Interest Rates, Prepayments and Commitment Reductions Promptly after receipt thereof, the Agent will notify each Lender of the contents of each Aggregate Commitment reduction notice, Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder. The Agent will notify each Lender of the interest rate applicable to each Eurodollar Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

  • Notification of Advances, Interest Rates and Prepayments The Administrative Agent will notify each Lender of the contents of each Borrowing Notice, Conversion/Continuation Notice, and repayment notice received by it hereunder not later than the close of business on the Business Day such notice is received by the Administrative Agent. The Administrative Agent will notify each Lender of the interest rate applicable to each LIBOR Rate Advance promptly upon determination of such interest rate and will give each Lender prompt notice of each change in the Alternate Base Rate.

  • Notice of Certain Events Affecting Registration; Suspension of Right to Make an Advance The Company will immediately notify the Investor upon its becoming aware of the occurrence of any of the following events in respect of a registration statement or related prospectus relating to an offering of Registrable Securities: (i) receipt of any request for additional information by the SEC or any other Federal or state governmental authority during the period of effectiveness of the Registration Statement for amendments or supplements to the registration statement or related prospectus; (ii) the issuance by the SEC or any other Federal or state governmental authority of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; (iii) receipt of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; (iv) the happening of any event that makes any statement made in the Registration Statement or related prospectus of any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires the making of any changes in the Registration Statement, related prospectus or documents so that, in the case of the Registration Statement, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and that in the case of the related prospectus, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; and (v) the Company's reasonable determination that a post-effective amendment to the Registration Statement would be appropriate; and the Company will promptly make available to the Investor any such supplement or amendment to the related prospectus. The Company shall not deliver to the Investor any Advance Notice during the continuation of any of the foregoing events.

  • Purpose of Advances The Borrowers undertake with each Creditor Party to use each Advance only for the purpose stated in the preamble to this Agreement.

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