Examples of Delinquency Advance in a sentence
In the event the Servicer shall consent to the deferment of the due dates for payments due on a Note, the Servicer shall nonetheless make payment of any required Delinquency Advance with respect to the payments so extended to the same extent as if such installment were due, owing and Delinquent and had not been deferred, and shall be entitled to reimbursement therefor in accordance with Section 8.09(a) hereof.
Notwithstanding the foregoing, in the event that the Servicer determines in its reasonable business judgment in accordance with the servicing standards set out herein that any proposed Delinquency Advance would not be recoverable, the Servicer shall not be required to make Delinquency Advances with respect to such Home Equity Loan.
Each Delinquency Advance shall increase the Outstanding Advances with respect to the related Mortgage Loan.
The Guarantor’s guaranty obligations to a Trust, as described in Section 7.5. For purposes of clause (a) of Subsection 7.4(4) and Subsection 7.5(3), any Delinquency Advance deposited to a Certificate Account will be treated as a payment made under the Guaranty.
The Servicer shall designate on its records the specific Mortgage Loans and related installments (or portions thereof) as to which such Delinquency Advance shall be deemed to have been made, such determination being conclusive for purposes of withdrawals from the Collection Account pursuant to Section 5.03 hereof.