Servicer Advance definition
Servicer Advance or "Servicing Advance" as defined in the applicable Purchase and Servicing Agreement.
Servicer Advance. An advance of Scheduled Payments made by the Servicer pursuant to Section 6.5.
Servicer Advance is defined in the Servicing Agreement.
Examples of Servicer Advance in a sentence
Notwithstanding anything to the contrary set forth herein, no Successor Servicer will be required to make any Servicer Advance.
More Definitions of Servicer Advance
Servicer Advance means, with respect to any Payment Date, the amounts, if any, deposited by the Servicer in the Collection Account for such Payment Date in respect of Scheduled Payments pursuant to Section 5.14 hereof.
Servicer Advance. A “Servicing Advance” as defined in the applicable Purchase and Servicing Agreement. Service(s)(ing): In accordance with Regulation AB, the act of servicing and administering the Mortgage Loans or any other assets of the Trust by an entity that meets the definition of “servicer’ set forth in Item 1101 of Regulation AB and is subject to the disclosure requirements set forth in Item 1108 of Regulation AB. For clarification purposes, any uncapitalized occurrence of this term shall have the meaning commonly understood by participants in the residential mortgage-backed securitization market.
Servicer Advance shall have the meaning specified in Section 3.2.
Servicer Advance means amounts, if any, advanced by the Servicer, at its option, to cover any shortfall between (i) the Scheduled Payments on the Pledged Loans (other than Defaulted Loans) for a Due Period and (ii) the amounts actually deposited in the Collection Account on account of such Scheduled Payments on or prior to the Payment Date immediately following such Due Period.
Servicer Advance means a Delinquency Advance or a Protective Advance.
Servicer Advance. Defined in Section 7.5.
Servicer Advance has the meaning assigned to such term in Section 6.19.