Advance Reimbursement Amounts. As defined in Section 3.29 hereof.
Advance Reimbursement Amounts. As defined in Section 3.22. Affiliate: With respect to any Person, any other Person controlling, controlled by or under common control with such first Person. For the purposes of this definition, "control" means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms "controlling" and "controlled" have meanings correlative to the foregoing. Ambac: Ambac Assurance Corporation (formerly known as AMBAC Indemnity Corporation).
Advance Reimbursement Amounts. As defined in Section 10.14(a).
Examples of Advance Reimbursement Amounts in a sentence
Notwithstanding anything to the contrary herein, in no event shall Advance Reimbursement Amounts or Servicing Advance Reimbursement Amounts be included in the Available Distribution Amount or distributed to Certificateholders.
Upon receipt of such written notice, the Servicer shall no longer be entitled to receive reimbursement for any Advance Reimbursement Amounts and the Servicer's Assignee shall immediately have the right to receive from the Collection Account all Advance Reimbursement Amounts.
Without limiting the generality of the foregoing, the Servicer shall remain entitled to be reimbursed by the Advance Financing Person for all Advances and/or Servicing Advances funded by the Servicer to the extent the related Advance Reimbursement Amounts have not been assigned or pledged to such Advance Financing Person or Servicer's Assignee.
Notwithstanding anything to the contrary herein, in no event shall Advance Reimbursement Amounts or Servicing Advance Reimbursement Amounts be included in Interest Remittance Amounts or Principal Remittance Amounts or distributed to Certificateholders.
Notwithstanding anything to the contrary herein, in no event shall P&I Advance Reimbursement Amounts or Servicing Advance Reimbursement Amounts be included in Interest Remittance Amounts or Principal Remittance Amounts or distributed to Certificateholders.
More Definitions of Advance Reimbursement Amounts
Advance Reimbursement Amounts. Advance Reimbursement Amounts") shall consist solely of amounts in respect of P&I Advances and/or Servicing Advances made with respect to the Mortgage Loans for which the Servicer would be permitted to reimburse itself in accordance with this Agreement, assuming the Servicer had made the related P&I Advance(s) and/or Servicing Advance(s).
Advance Reimbursement Amounts. (i) shall consist solely of amounts in respect of P&I Advances and/or Servicing Advances for which the Servicer would be permitted to reimburse itself in accordance with Section 3.11 hereof, assuming the Servicer had made the related P&I Advance(s) and/or Servicing Advance(s) and (ii) shall not consist of amounts payable to a successor Servicer in accordance with Section 3.11 hereof to the extent permitted under Section 3.28(e) below.
Advance Reimbursement Amounts shall consist solely of amounts in respect of P&I Advances and/or Servicing Advances made with respect to the Mortgage Loans for which the Servicer would be permitted to reimburse itself in accordance with this Agreement, assuming the Servicer had made the related P&I Advance(s) and/or Servicing Advance(s). The Servicer shall maintain and provide to any successor Servicer a detailed accounting on a loan-by-loan basis as to amounts advanced by, pledged or assigned to, and reimbursed to any Advancing Person. The successor Servicer shall be entitled to rely on any such information provided by the predecessor Servicer, and the successor Servicer shall not be liable for any errors in such information. An Advancing Person who purchases or receives an assignment or pledge of the rights to be reimbursed for P&I Advances and/or Servicing Advances, and/or whose obligations hereunder are limited to the funding of P&I Advances and/or Servicing Advances shall not be required to meet the criteria for qualification of a subservicer set forth in this Agreement.
Advance Reimbursement Amounts shall consist solely of amounts in respect of Advances, Servicing Advances and/or Tax/Premium Amounts made with respect to the Mortgage Loans for which the Servicer would be permitted to reimburse itself in accordance with this Agreement. Advance Reimbursement Amounts that the Servicer is entitled to be paid shall not be included in Available Distribution Amounts or distributed to Certificateholders. An Advance Facility Counterparty whose obligations are limited to the making of Advances, Servicing Advances and/or Tax/Premium Amounts will not be deemed to be a Subservicer under this Agreement or be required to meet the criteria for qualification as a Subservicer under this Agreement. Advance Reimbursement Amounts allocated to reimburse Advances, Servicing Advances or Tax/Premium Amounts made with respect to any particular Mortgage Loan shall be allocated to the reimbursement of the unreimbursed Advances, Servicing Advances or Tax/Premium Amounts, as the case may be, made with respect to that Mortgage Loan on a "first-in, first out" ("FIFO") basis, such that the Advance Reimbursement Amounts shall be applied to reimburse the Advance, Servicing Advance or Tax/Premium Amount, as the case may be, for that Mortgage Loan that was disbursed earliest in time first, and to reimburse the Advance, Servicing Advance or Tax/Premium Amount, as the case may be, for that Mortgage Loan that was disbursed latest in time last. Liquidation Proceeds with respect to a Mortgage Loan shall be applied in the following order: first, to reimburse Servicing Advances outstanding with respect to that Mortgage Loan, second, to reimburse Advances outstanding with respect to that Mortgage Loan and third, to reimburse Tax/Premium Amounts outstanding with respect to that Mortgage Loan. The Servicer shall provide to the related Advancing Facility Counterparty or Advance Facility Trustee loan-level information with respect to each Advance, Servicing Advance or Tax/Premium Amount remitted to such Advance Facility Counterparty or Advance Facility Trustee, to enable the Advance Facility Counterparty or Advance Facility Trustee to make the FIFO allocation of each such Advance, Servicing Advance or Tax/Premium Amount with respect to each Mortgage Loan. Upon request of the Servicer, the Trustee agrees to execute such acknowledgments, certificates, and other documents recognizing the interests of any Advance Facility Counterparty in such Advance Reimbursement Rights as the Servicer may cause to be m...
Advance Reimbursement Amounts. As defined in Section 6.06(b) hereof.
Advance Reimbursement Amounts means, with respect to any MBS Advance or Servicing Advance, any amount collected on a Mortgage Pool, withdrawn from a custodial account in accordance with the Xxxxxx Xxx Contract, free and clear from any Xxxxxx Mae rights or other restrictions on transfer set forth therein, or received from any Successor Issuer, to reimburse any such MBS Advance or Servicing Advance, including any Liquidation Proceeds, FHA Claim Proceeds, USDA Claim Proceeds, PIH Claim Proceeds or VA Claim Proceeds; provided that “Advance Reimbursement Amounts” shall not include any such amounts that constitute Excluded Reimbursement Rights.
Advance Reimbursement Amounts distributed with respect to each Mortgage Loan shall be allocated to outstanding unreimbursed P&I Advances or Servicing Advances (as the case may be) maxx xxxx xxxxxxx to that Mortgage Loan on a "first-in, first out" (FIFO) basis. Such documentation shall also require the Servicer to provide to the related Advancing Person or its designee loan-by-loan information with respect to each such Advance Reimbursement Amount distributed to such Advancing Person or Advance Facility trustee on each Distribution Date, to enable the Advancing Person or Advance Facility trustee to make the FIFO allocation of each such Advance Reimbursement Amount with respect to each Mortgage Loan. The Servicer shall remain entitled to be reimbursed by the Advancing Person or Advance Facility trustee for all P&I Advances and Servicing Advances funded by the Servicer to the extent the related rights to be reimbursed therefor have not been sold, assigned or pledged to an Advancing Person.