Common use of Delinquency Advances and Servicing Advances Clause in Contracts

Delinquency Advances and Servicing Advances. (a) Not later than 12:00 noon Charlotte, North Carolina time on each Master Servicer Remittance Date, the Master Servicer, except as otherwise stated herein, shall advance funds (each such advance, a “Delinquency Advance”) to the Certificate Distribution Account in the amount of any Monthly Payment that is due during the related Due Period and not received by the Master Servicer from the related Servicer as of the related Determination Date; provided, however, that the Master Servicer will not be required to make any such Delinquency Advance (i) if the related Mortgage Loan is a Non-Servicer Obligated Mortgage Loan or (ii) if the Master Servicer determines in reasonable good faith that such Delinquency Advance would be a Non-Recoverable Advance. Such determination by the Master Servicer will be evidenced by a certificate signed by a Servicing Officer delivered to the Trustee no later than such Master Servicer Remittance Date for the related Distribution Date. Each Delinquency Advance shall increase the Outstanding Advances with respect to the related Mortgage Loan. The Master Servicer shall be permitted to fund Delinquency Advances from its own funds, and from amounts then on deposit in the Collection Account in excess of the Total Distribution Amount for the related Master Servicer Remittance Date.

Delinquency Advances and Servicing Advances. (a) Not later than 12:00 noon Charlotte, North Carolina [ ] time on each Master Servicer Remittance Date, the Master Servicer, except as otherwise stated herein, shall advance funds (each such advance, a “Delinquency Advance”) to the Certificate Note Distribution Account in the amount of any Monthly Payment that is due during the related Due Period and not received by the Master Servicer from the related Servicer as of the related Determination Date; provided, however, that the Master Servicer will not be required to make any such Delinquency Advance (i) if the related Mortgage Loan is a Nonlisted on Schedule I-Servicer Obligated Mortgage Loan J hereto or (ii) if the Master Servicer determines in reasonable good faith that such Delinquency Advance would be a Non-Recoverable Advance. Such determination by the Master Servicer will be evidenced by a certificate signed by a Servicing Officer delivered to the Indenture Trustee no later than such Master Servicer Remittance Date for the related Distribution Payment Date. Each Delinquency Advance shall increase the Outstanding Advances with respect to the related Mortgage Loan. The Master Servicer shall be permitted to fund Delinquency Advances from its own funds, and from amounts then on deposit in the Collection Account in excess of the Total Distribution Amount for the related Master Servicer Remittance Date.

Delinquency Advances and Servicing Advances. (a) Not later than 12:00 noon CharlotteBoston, North Carolina Massachusetts time on each Master Servicer Remittance Date, the Master Servicer, except as otherwise stated herein, shall advance funds (each such advance, a “Delinquency Advance”) to the Certificate Distribution Account in the amount of any Monthly Payment that is due during the related Due Period and not received by the Master Servicer from the related Servicer as of the related Determination Date; provided, however, that the Master Servicer will not be required to make any such Delinquency Advance (i) if the related Mortgage Loan is a Non-Servicer Obligated Mortgage Loan or (ii) if the Master Servicer determines in reasonable good faith that such Delinquency Advance would be a Non-Recoverable Advance. Such determination by the Master Servicer will be evidenced by a certificate signed by a Servicing Officer delivered to the Trustee no later than such Master Servicer Remittance Date for the related Distribution Date. Each Delinquency Advance shall increase the Outstanding Advances with respect to the related Mortgage Loan. The Master Servicer shall be permitted to fund Delinquency Advances from its own funds, and from amounts then on deposit in the Collection Account in excess of the Total Distribution Amount for the related Master Servicer Remittance Date.

Delinquency Advances and Servicing Advances. (a) Not later than 12:00 noon Charlotte, North Carolina New York City time on each Master Servicer Remittance Date, the Master Servicer, except as otherwise stated herein, shall advance funds (each such advance, a “Delinquency Advance”) to the Certificate Distribution Account in the amount of any Monthly Payment that is due during the related Due Period and not received by the Master Servicer from the related Servicer as of the related Determination Date; provided, however, that the Master Servicer will not be required to make any such Delinquency Advance (i) if the related Mortgage Loan is a Non-Servicer Obligated Mortgage Loan Loan, (ii) with respect to any such amount representing a Civil Relief Act Reduction, or (iiiii) if the Master Servicer determines in reasonable good faith that such Delinquency Advance would be a Non-Recoverable Advance. Such determination by the Master Servicer will be evidenced by a certificate signed by a Servicing Officer delivered to the Trustee no later than such Master Servicer Remittance Date for the related Distribution Date. Each Delinquency Advance shall increase the Outstanding Advances with respect to the related Mortgage Loan. The Master Servicer shall be permitted to fund Delinquency Advances from its own funds, and from amounts then on deposit in the Collection Account in excess of the Total Distribution Amount for the related Master Servicer Remittance Date.

Delinquency Advances and Servicing Advances. (a) Not later than 12:00 noon Charlotte, North Carolina [ ] time on each Master Servicer Remittance Date, the Master Servicer, except as otherwise stated herein, shall advance funds (each such advance, a “Delinquency Advance”) to the Certificate Distribution Account in the amount of any Monthly Payment that is due during the related Due Period and not received by the Master Servicer from the related Servicer as of the related Determination Date; provided, however, that the Master Servicer will not be required to make any such Delinquency Advance (i) if the related Mortgage Loan is a Non-Servicer Obligated Mortgage Loan or (ii) if the Master Servicer determines in reasonable good faith that such Delinquency Advance would be a Non-Recoverable Advance. Such determination by the Master Servicer will be evidenced by a certificate signed by a Servicing Officer delivered to the Trustee no later than such Master Servicer Remittance Date for the related Distribution Date. Each Delinquency Advance shall increase the Outstanding Advances with respect to the related Mortgage Loan. The Master Servicer shall be permitted to fund Delinquency Advances from its own funds, and from amounts then on deposit in the Collection Account in excess of the Total Distribution Amount for the related Master Servicer Remittance Date.

Delinquency Advances and Servicing Advances. (a) Not later than 12:00 noon Charlotte, North Carolina [ ] time on each Master Servicer Remittance Date, the Master Servicer, except as otherwise stated herein, shall advance funds (each such advance, a “Delinquency Advance”) to the Certificate Note Distribution Account in the amount of any Monthly Payment that is due during the related Due Period and not received by the Master Servicer from the related Servicer as of the related Determination Date; provided, however, that the Master Servicer will not be required to make any such Delinquency Advance (i) if the related Mortgage Loan is a Nonlisted on Schedule I-Servicer Obligated Mortgage Loan J hereto or (ii) if the Master Servicer determines in reasonable good faith that such Delinquency Advance would be a Non-Recoverable Advance. Such determination by the Master Servicer will be evidenced by a certificate signed by a Servicing Officer delivered to the Indenture Trustee no later than such Master Servicer Remittance Date for the related Distribution Date. Each Delinquency Advance shall increase the Outstanding Advances with respect to the related Mortgage Loan. The Master Servicer shall be permitted to fund Delinquency Advances from its own funds, and from amounts then on deposit in the Collection Account in excess of the Total Distribution Amount for the related Master Servicer Remittance Date.

Delinquency Advances and Servicing Advances. (a) Not later than 12:00 noon Charlotte, North Carolina time on each Master Servicer Remittance Date, the Master Servicer, except as otherwise stated herein, shall advance funds (each such advance, a “Delinquency Advance”) to the Certificate Distribution Account in the amount of any Monthly Payment that is due during the related Due Period and not received by the Master Servicer from the related Servicer as of the related Determination Date; provided, however, that the Master Servicer will not be required to make any such Delinquency Advance (i) if the related Mortgage Loan is a Non-Servicer Obligated Mortgage Loan listed on Exhibit J hereto or (ii) if the Master Servicer determines in reasonable good faith that such Delinquency Advance would be a Non-Recoverable Advance. Such determination by the Master Servicer will be evidenced by a certificate signed by a Servicing Officer delivered to the Trustee no later than such Master Servicer Remittance Date for the related Distribution Date. Each Delinquency Advance shall increase the Outstanding Advances with respect to the related Mortgage Loan. The Master Servicer shall be permitted to fund Delinquency Advances from its own funds, and from amounts then on deposit in the Collection Account in excess of the Total Distribution Amount for the related Master Servicer Remittance Date.