Subservicer Advance definition

Subservicer Advance. Any delinquent installment of principal and interest on a Mortgage Loan which is advanced by the related Subservicer (net of its Subservicing Fee) pursuant to the Subservicing Agreement.
Subservicer Advance has the meaning set forth in Section 2.02(a) hereof.
Subservicer Advance means the outstanding moneys that have been advanced by the Subservicer from its funds in connection with its subservicing of a Mortgage Loan (including, but not limited to, taxes, ground rents, assessments, insurance premiums, foreclosure and bankruptcy fees and expenses, and other expenses) (i) in accordance with the applicable Private Investor Agreement or applicable Pooling and Servicing Agreement, (ii) that are recoverable through Liquidation Proceeds, Insurance Proceeds and/or Condemnation Proceeds, or that are made at the direction of the Servicer and (iii) for which the Subservicer has a right of reimbursement.

More Definitions of Subservicer Advance

Subservicer Advance. As defined in the Subservicing Agreement.
Subservicer Advance means all customary, reasonable and necessaryout of pocket” moneys that have been advanced by the Subservicer from its funds in connection with its servicing of a Mortgage Loan (including, but not limited to, taxes, ground rents, assessments, insurance premiums, release fees, foreclosure and bankruptcy fees and expenses, and other expenses) (i) that have been made by the Subservicer in accordance with the terms and provisions herein, (ii) that are recoverable through Liquidation Proceeds, Insurance Proceeds and/or Condemnation Proceeds, or that are made at the direction of the Servicer or to preserve its security interest in the related Mortgaged Properties and (iii) for which the Subservicer has a right of reimbursement from Mortgagors, Insurers, the Servicer and/or Subsequent Purchaser, or otherwise.

Related to Subservicer Advance

  • Servicer Advance or "Servicing Advance" as defined in the applicable Purchase and Servicing Agreement.

  • Master Servicer Advance Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Servicer Advance Date As to any Distribution Date, 11:30 a.m., Eastern time, on the Business Day immediately preceding such Distribution Date.

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

  • Servicing Advances All customary, reasonable and necessary "out of pocket" costs and expenses incurred in the performance by the Master Servicer of its servicing obligations, including, but not limited to, the cost of (i) the preservation, restoration and protection of a Mortgaged Property, (ii) any expenses reimbursable to the Master Servicer pursuant to Section 3.11 and any enforcement or judicial proceedings, including foreclosures, (iii) the management and liquidation of any REO Property and (iv) compliance with the obligations under Section 3.09.