Administrative Advance definition

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

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Administrative Advance shall have the meaning assigned to the term “Administrative Advance” in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

Administrative Advance shall have, from and after the Lead Securitization Date, the meaning assigned to such term or any analogous term in the Servicing Agreement.

Examples of Administrative Advance in a sentence

• The cost of obtaining such Appraisal shall be paid by the Servicer as a Property Protection Advance or an Administrative Advance unless it would constitute a Nonrecoverable Advance and in such case, subject to the allocation provisions of the Co-Lender Agreement, as a Trust Fund Expense.

• Subject to the provisions of Section 3.4(c), the Servicer and the Trustee, as applicable, will each be entitled to reimbursement for a Monthly Payment Advance and any Administrative Advance from any collections on the Whole Loan prior to any distributions to the Certificateholders.

• The cost of the annual inspections referred to in the first sentence of this paragraph shall be an expense of the Servicer; the cost of all additional inspections referred to in this paragraph shall be a Trust Fund Expense (except to the extent such expense is required to be borne by the Companion Loan Holders pursuant to the terms of the Co-Lender Agreement) and if paid by the Servicer shall constitute a Property Protection Advance or an Administrative Advance.

More Definitions of Administrative Advance

Administrative Advance as that term is defined in Section 3.4(i) of the Asset Purchase Agreement.