Common use of Trustee Advances Clause in Contracts

Trustee Advances. (a) Under the terms of each Servicing Agreement, on the Business Day prior to each Remittance Date, the related Servicer is obligated to make a Monthly Advance with respect to any delinquencies as of the related Distribution Date, unless such Servicer furnishes to the Trustee, an Officer’s Certificate evidencing the determination by such Servicer, in its reasonable judgment, that such Monthly Advance would be non-recoverable from Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds (including the proceeds of the applicable Federal Insurance) or otherwise with respect to such Mortgage Loan (a “Non-Recoverability Certificate”). If (i) a Servicer reports a delinquency on a Remittance Report, and (ii) such Servicer, by 11 a.m. (New York Time) on the related Distribution Date, neither makes a Monthly Advance nor provides the Trustee with a Non-Recoverability Certificate with respect to such delinquency, then the Trustee shall deposit, from its own funds, the amount of such Monthly Advance (a “Trustee Advance”) into the Certificate Account for distribution to Certificateholders as provided in the Trust Agreement. Notwithstanding the foregoing, if the Trustee, in its reasonable judgment, determines that such Monthly Advance would be non-recoverable from Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds (including the proceeds of the applicable Federal Insurance) or otherwise with respect to such Mortgage Loan, then the Trustee shall not be obligated to make such Trustee Advance.

Trustee Advances. (a) Under the terms of each Servicing Agreement, on the Business Day prior to each Remittance Date, the related Servicer is obligated to make a Monthly Advance with respect to any delinquencies as of the related Distribution Date, unless such Servicer furnishes to the Trustee, an Officer’s Certificate evidencing the determination by such Servicer, in its reasonable judgment, that such Monthly Advance would be non-recoverable from Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds (including the proceeds of the applicable Federal Insurance) or otherwise with respect to such Mortgage Loan (a “"Non-Recoverability Certificate”"). If (i) a Servicer reports a delinquency on a Remittance Report, and (ii) such Servicer, by 11 a.m. (New York Time) on the related Distribution Date, neither makes a Monthly Advance nor provides the Trustee with a Non-Recoverability Certificate with respect to for such delinquency, then the Trustee shall deposit, from its own funds, the amount of such Monthly Advance (a “"Trustee Advance”") into the Certificate related Distribution Account for distribution to Certificateholders as provided in the Trust Agreement. Notwithstanding the foregoing, if the Trustee, in its reasonable judgment, determines that such Monthly Advance would be non-recoverable from Liquidation Proceeds, Condemnation Proceeds, Insurance Proceeds (including the proceeds of the applicable Federal Insurance) or otherwise with respect to such Mortgage Loan, then the Trustee shall not be obligated to make such Trustee Advance.