Servicer Advance definition

Servicer Advance or "Servicing Advance" as defined in the applicable Purchase and Servicing Agreement.

Servicer Advance. An advance of Scheduled Payments made by the Servicer pursuant to Section 6.5.

Servicer Advance means, with respect to any Payment Date, the amounts, if any, deposited by the Servicer in the Collection Account for such Payment Date in respect of Scheduled Payments pursuant to Section 5.14 hereof.

Examples of Servicer Advance in a sentence

• The Master Servicer shall deliver to the Trustee on the related Master Servicer Advance Date an Officer's Certificate of a Servicing Officer indicating the amount of any proposed Advance determined by the Master Servicer to be a Nonrecoverable Advance.

• Any funds so applied shall be replaced by the Master Servicer by deposit in the Certificate Account no later than the close of business on the next Master Servicer Advance Date.

• If the Master Servicer determines it is required to make an Advance, it shall, on or before the Master Servicer Advance Date, either (i) deposit into the Certificate Account an amount equal to the Advance or (ii) make an appropriate entry in its records relating to the Certificate Account that any Amount Held for Future Distribution has been used by the Master Servicer in discharge of its obligation to make any such Advance.

• The Master Servicer shall determine on or before each Master Servicer Advance Date whether it is required to make an Advance pursuant to the definition thereof.

• The Servicer shall determine on or before each Servicer Advance Date whether it is required to make a Periodic Advance pursuant to the definition thereof.

More Definitions of Servicer Advance

Servicer Advance is defined in the Servicing Agreement.

Servicer Advance. A “Servicing Advance” as defined in the applicable Purchase and Servicing Agreement. Service(s)(ing): In accordance with Regulation AB, the act of servicing and administering the Mortgage Loans or any other assets of the Trust by an entity that meets the definition of “servicer’ set forth in Item 1101 of Regulation AB and is subject to the disclosure requirements set forth in Item 1108 of Regulation AB. For clarification purposes, any uncapitalized occurrence of this term shall have the meaning commonly understood by participants in the residential mortgage-backed securitization market.

Servicer Advance. Defined in Section 7.5.

Servicer Advance has the meaning assigned to such term in Section 6.19.

Servicer Advance. The meaning ascribed to such term in Section 3.08(d).

Servicer Advance means a discretionary advance of funds by the Servicer (or the Borrower) to an Obligor that does not constitute a revolving advance in the ordinary course under a Revolving Loan Asset.

Servicer Advance means a Delinquency Advance or a Protective Advance.