Delinquency Advance definition

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

Delinquency Advance. The aggregate of the advances required to be made by the Servicer on any Servicer Remittance Date pursuant to Section 5.18 of the Sale and Servicing Agreement, the amount of any such advances being equal to the sum of:

Delinquency Advance. As to any Mortgage Loan or related REO Loan, any advance made by the Master Servicer, the Trustee or the Fiscal Agent pursuant to Section 4.03.

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.

More Definitions of Delinquency Advance

Delinquency Advance. As defined in Section 8.9(a) hereof.

Delinquency Advance. With respect to the Master Servicer, as defined in Section 4.26(a) hereof, and with respect to any Servicer, any advance of funds in respect of a delinquent Monthly Payment made pursuant to the terms of the applicable Servicing Agreement.

Delinquency Advance means any advance made by Seller or Servicer pursuant to the Servicing Agreements, to cover due, but uncollected or unavailable as a result of funds not yet being cleared, principal and interest payments on the Early Buyout Loans included in the portfolio of Mortgage Loans serviced by Seller or Servicer pursuant to the Servicing Agreements, including Early Buyout Loans with respect to which the related Mortgaged Property is being held pending liquidation.

Delinquency Advance. An amount advanced by a Direct Servicer in respect of regularly scheduled interest or principal due on one or more Mortgage Loans, to the extent required under its Servicing Contract.

Delinquency Advance shall have the meaning assigned thereto in Section 2.10 hereof.

Delinquency Advance. An advance of the aggregate of payments of principal and interest (net of the Servicing Fee) on one or more Mortgage Loans that were due on a Due Date in the related Collection Period and not received as of the close of business on the related Determination Date, required to be made by the Servicer (or by a successor servicer) or the Master Servicer pursuant to Section 3.19.

Delinquency Advance. As defined in Section 4.9(a) hereof.