Unreimbursed Servicer Advance definition

Unreimbursed Servicer Advance means a Simple Interest Advance which the Servicer determines in its sole discretion is unrecoverable.
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Unreimbursed Servicer Advance means, at any time, the amount of all ----------------------------- previous Servicer Advances (or portions thereof) as to which the Collection Agent has not been reimbursed as of such time pursuant to Section 1.03(b) and which the Collection Agent has determined in good faith will not be ultimately recoverable, and with respect to which the Collection Agent has given written certification to such effect (which certification may take the form of an entry on a Transferor Report identifying Unreimbursed Servicer Advances).
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Examples of Unreimbursed Servicer Advance in a sentence

  • With respect to each Ineligible Receivable (other than a Defaulted Receivable), on any date of determination, the Receivable Balance of such Receivable less the principal portion of any Unreimbursed Servicer Advance made in respect of such Receivable.

Related to Unreimbursed Servicer Advance

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

  • Unreimbursed Amount has the meaning specified in Section 2.03(c)(i).

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • P&I Advance means an advance made by a party to any Securitization Servicing Agreement in respect of a delinquent monthly debt service payment on the Note(s) securitized pursuant to such Securitization Servicing Agreement.

  • Servicing Advances All customary, reasonable and necessary "out of pocket" costs and expenses incurred in the performance by the Master Servicer of its servicing obligations, including, but not limited to, the cost of (i) the preservation, restoration and protection of a Mortgaged Property, (ii) any expenses reimbursable to the Master Servicer pursuant to Section 3.11 and any enforcement or judicial proceedings, including foreclosures, (iii) the management and liquidation of any REO Property and (iv) compliance with the obligations under Section 3.09.

  • Servicing Advance shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

  • Nonrecoverable Servicing Advance Any Servicing Advance previously made or proposed to be made in respect of a Mortgage Loan or REO Property that, in the good faith business judgment of the Master Servicer, will not or, in the case of a proposed Servicing Advance, would not be ultimately recoverable from related Late Collections, Insurance Proceeds or Liquidation Proceeds on such Mortgage Loan or REO Property as provided herein.

  • Participation Advance shall have the meaning set forth in Section 2.12(d).

  • Delinquency Advance As defined in Section 8.09(a) hereof.

  • Nonrecoverable P&I Advance Any P&I Advance previously made or proposed to be made in respect of a Mortgage Loan or REO Property that, in the good faith business judgment of the Servicer using Accepted Servicing Practices, will not or, in the case of a proposed P&I Advance, would not be ultimately recoverable from related Late Collections, Insurance Proceeds or Liquidation Proceeds on such Mortgage Loan or REO Property as provided herein.

  • Property Advance means an advance made in respect of property protection expenses or expenses incurred to protect, preserve and enforce the security for the Mortgage Loan or to pay taxes and assessments or insurance premiums with respect to the Mortgaged Property.

  • Outstanding Advances means, with respect to a Receivable and the last day of a Collection Period, the sum of all Advances made as of or prior to such date, minus (1) all payments or collections as of or prior to such date which are specified in Section 4.04(b) and (c) as applied to reimburse all unpaid Advances with respect to such Receivable and (2) all amounts for which the Servicer has deemed to have released all claims for reimbursement of Outstanding Advances pursuant to Section 3.08.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.