Common use of Servicing Advances Clause in Contracts

Servicing Advances. On or before the date which is five (5) days after the related Subsequent Transfer Date, the Owner or its designee shall reimburse the Servicer for any Servicing Advances and Monthly Advances with respect to any Mortgage Loan. This Section 6.02(b) shall survive the related Subsequent Transfer Date; provided that neither the Owner nor its designee shall be obligated to reimburse the Servicer for any Servicing Advances or Monthly Advances which are reasonably deemed to be nonrecoverable by the Owner or its designee as of the related Subsequent Transfer Date in its sole reasonable discretion.

Servicing Advances. On or before the date which is five (5) days after the related Subsequent Transfer Date, the Owner Purchaser or its designee shall reimburse the Interim Servicer for any Servicing Advances and Monthly Advances with respect to any Mortgage Loan. This Section 6.02(b) shall survive the related Subsequent Transfer Date; provided that neither the Owner Purchaser nor its designee shall be obligated to reimburse the Interim Servicer for any Servicing Advances or Monthly Advances which are reasonably deemed to be nonrecoverable by the Owner Purchaser or its designee as of the related Subsequent Transfer Date in its sole reasonable discretion.