Uncollectible Advance definition

Uncollectible Advance means with respect to any Determination Date and any Contract, the amount, if any, otherwise to be advanced by the Servicer pursuant to Section 7.03 which the Servicer has as of such Determination Date determined in good faith would not be ultimately recoverable by the Servicer from insurance policies on the related Motorcycle, the related Obligor or out of Net Liquidation Proceeds with respect to such Contract.

Uncollectible Advance means with respect to any Determination Date and any Contract, the amount, if any, advanced by the Servicer pursuant to Section 7.03 which the Servicer has as of such Determination Date determined in good faith will not be ultimately recoverable by the Servicer from insurance policies on the related Motorcycle, the related Obligor or out of Net Liquidation Proceeds with respect to such Contract. The determination by the Servicer that it has made an Uncollectible Advance, or, that any Advance proposed to be made would be an Uncollectible Advance, shall be evidenced by an Officer’s Certificate delivered to the Trustees.

Uncollectible Advance means, with respect to any Determination Date and any Loan, the amount, if any, advanced by the Servicer pursuant to Section 5.14 which the Servicer has, as of such Determination Date, determined in good faith will not be ultimately recoverable by the Servicer.

Examples of Uncollectible Advance in a sentence

• If the amount of such Advance is less than the amount of the Delinquent Interest, the relevant Monthly Report shall be accompanied by a certificate of a Servicing Officer setting forth in reasonable detail the basis for the determination by the Servicer that the portion of the Delinquent Interest not advanced would become an Uncollectible Advance.

• Not later than each Distribution Date, the Servicer shall advance (each, an “Advance”) an amount equal to the Delinquent Interest for such Determination Date by depositing such amount in the Collection Account; provided, however, that the Servicer shall be obligated to advance Delinquent Interest only to the extent that the Servicer, in its sole discretion, expects that such advance will not become an Uncollectible Advance.

• Not later than each Determination Date, the Servicer shall advance (each, an "ADVANCE") an amount equal to the Delinquent Interest for such Determination Date by depositing such amount in the Collection Account; PROVIDED, HOWEVER, that the Servicer shall be obligated to advance Delinquent Interest only to the extent that the Servicer, in its sole discretion, expects that such advance will not become an Uncollectible Advance.

• Not later than each Determination Date, the Servicer shall advance (each, an "ADVANCE") such Delinquent Interest by depositing the aggregate amount of such Delinquent Interest in the Collection Account, PROVIDED, HOWEVER, that the Servicer shall be obligated to advance Delinquent Interest only to the extent that the Servicer, in its sole discretion, expects that such Advance will not become an Uncollectible Advance.

• Not later than each Determination Date, the Servicer shall advance (each, an "Advance") such Delinquent Interest by depositing the aggregate amount of such Delinquent Interest in the Collection Account, provided, however, that the Servicer shall be obligated to advance Delinquent Interest only to the extent that the Servicer, in its sole discretion, expects that such Advance will not become an Uncollectible Advance.

• If the amount of such Advance is less than the amount of the Delinquent Interest, the relevant Monthly Report shall be accompanied by a certificate of a Servicing Officer setting forth in reasonable detail the basis for the determination by the Servicer that the portion of the Delinquent Interest not advanced would be an Uncollectible Advance.

• Not later than each Distribution Date, the Servicer shall advance (each, an "ADVANCE") an amount equal to the Delinquent Interest for such Determination Date by depositing such amount in the Collection Account; PROVIDED, HOWEVER, that the Servicer shall be obligated to advance Delinquent Interest only to the extent that the Servicer, in its sole discretion, expects that such advance will not become an Uncollectible Advance.

• Not later than each Determination Date, the Servicer shall advance (each, an "ADVANCE") such Delinquent Interest by depositing the aggregate amount of such Delinquent Interest in the Collection Account; PROVIDED, HOWEVER, that the Servicer shall be obligated to advance Delinquent Interest only to the extent that the Servicer, in its sole discretion, expects that such Advance will not become an Uncollectible Advance.

• Rationale: Lehotsky Hall is one of the most energy inefficient buildings on the Clemson campus, per the university.

• Not later than each Distribution Date, the Servicer shall advance (each, an "Advance") an amount equal to the Delinquent Interest for such Determination Date by depositing such amount in the Collection Account; provided, however, that the Servicer shall be obligated to advance Delinquent Interest only to the extent that the Servicer, in its sole discretion, expects that such advance will not become an Uncollectible Advance.

More Definitions of Uncollectible Advance

Uncollectible Advance means with respect to any Determination Date and any Contract, the amount, if any, advanced by the Servicer pursuant to Section 7.03 which the Servicer has as of such Determination Date determined in good faith will not be ultimately recoverable by the Servicer from insurance policies on the related Motorcycle, the related Obligor or out of Net Liquidation Proceeds with respect to such Contract. The determination by the Servicer that it has made an Uncollectible Advance, or, that any Advance proposed to be made would be an Uncollectible Advance, shall be evidenced by an Officer's Certificate delivered to the Trustees.

Uncollectible Advance means with respect to any Determination Date and any Contract, the amount, if any, advanced by the Servicer pursuant to Section 7.03 which the Servicer has as of such Determination Date determined in good faith will not be ultimately recoverable by the Servicer from insurance policies on the related Motorcycle, the related Obligor or out of Net Liquidation Proceeds with respect to such Contract. The determination by the Servicer that it has made an Uncollectible Advance, or, that any Advance proposed to be made would be an Uncollectible Advance, shall be evidenced by an Officer’s Certificate delivered to the Trustees. “Underwriters” means X.X. Xxxxxx Securities Inc., ABN AMRO Incorporated, BNP Paribas Securities Corp. and Citigroup Global Markets Inc.

Uncollectible Advance means with respect to any Determination Date and any Contract, the amount, if any, if advanced by the Servicer in respect of such Contract pursuant to SECTION 7.02, which the Servicer has as of such Determination Date determined in good faith would not be ultimately recoverable by the Servicer from insurance policies on the related Financed Vehicle, the related Obligor or out of Net Liquidation Proceeds with respect to such Contract. The determination by the Servicer that it has made an Uncollectible Advance shall be evidenced by an Officer's Certificate delivered to the Trustee.

Uncollectible Advance means, with respect to any Determination Date, the --------------------- portion of any Servicer Advances which the Servicer has determined in good faith will not be ultimately recoverable by the Servicer. The determination by the Servicer that it has made an Uncollectible Advance shall be evidenced by an Officer's Certificate delivered to the Trustee.

Uncollectible Advance means a Monthly Advance made by Sub-Servicer or a Prior Monthly Advance made by Servicer which is or would be uncollectible through Monthly Mortgage Payments, Insurance Proceeds, Liquidation Proceeds, proceeds from a Principal Payment or other proceeds of the related Mortgage Loan.