Servicer Advance or "Servicing Advance" as defined in the applicable Purchase and Servicing Agreement.
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.
Examples of Servicer Advance in a sentence
None of the Servicer, any Successor Servicer or the Trustee, acting as Servicer, shall have any obligation to make any Servicer Advance and may refuse to make a Servicer Advance for any reason or no reason.
More Definitions of Servicer Advance
Servicer Advance is defined in the Servicing Agreement.
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. Defined in Section 7.5.
Servicer Advance shall have the meaning specified in Section 3.2.
Servicer Advance means advances made or required to be made by the Borrower or any of its Subsidiaries in its capacity as servicer under a Servicing Contract to fund principal, interest, escrow, foreclosure, insurance, tax or other payments or advances when the obligor on the underlying Mortgage Loan is delinquent in making payments on such receivable; to enforce remedies, manage and liquidate REO Assets; or that the Borrower or any of its Subsidiaries otherwise advances in its capacity as servicer under such Servicing Contract.
Servicer Advance has the meaning assigned to such term in Section 6.19.
Servicer Advance. The meaning ascribed to such term in Section 3.08(d).