Advance Reimbursement Payment definition
Advance Reimbursement Payment. With respect to each Payment Date until the Initial Advance Facility has been terminated, the sum of (i) the amount available from collections on the Mortgage Loans with respect to such Payment Date to reimburse the Servicer (or the Subservicer) for unreimbursed Advances made by it, such right of reimbursement pursuant to this subclause (i) being limited to amounts received on any Mortgage Loan in respect of which any such Advance was made, and (ii) to the extent of other available amounts, the amount necessary to reimburse the Servicer (or the Subservicer) for any Nonrecoverable Advance previously made.