Common use of Non Recoverable Advances Clause in Contracts

Non Recoverable Advances. Any Monthly P & I Advance or other advance previously made by the Master Servicer under this Section 5.01 which the Master Servicer shall ultimately determine in its good faith judgment to be not recoverable from Insurance Proceeds, Liquidation Proceeds or subsequent payments by the Borrower shall be a Non-Recoverable Advance. The determination by the Master Servicer that it has made a Non-Recoverable Advance shall be evidenced by an Officer’s Certificate of the Master Servicer promptly delivered to the Trustee and FMSC setting forth the reasons for such determination. Following the Trustee’s receipt of the Officer’s Certificate and FMSC’s acceptance of such certification, the Master Servicer shall be entitled to reimbursement for such Non-Recoverable Advance as provided in Section 7.02 of these Standard Terms.

Non Recoverable Advances. Any Monthly P & I Advance or other advance previously made by the Master Servicer under this Section 5.01 which the Master Servicer shall ultimately determine in its good faith judgment to be not recoverable from Insurance Proceeds, Liquidation Proceeds or subsequent payments by the Borrower shall be a Non-Recoverable Advance. The determination by the Master Servicer that it has made a Non-Recoverable Advance shall be evidenced by an Officer’s 's Certificate of the Master Servicer promptly delivered to the Trustee and FMSC SRMSC setting forth the reasons for such determination. Following the Trustee’s 's receipt of the Officer’s 's Certificate and FMSC’s SRMSC's acceptance of such certification, the Master Servicer shall be entitled to reimbursement for such Non-Recoverable Advance as provided in Section 7.02 of these Standard Terms.

Non Recoverable Advances. Any Monthly P & I Advance or other advance previously made by the Master Servicer under this Section 5.01 which the Master Servicer shall ultimately determine in its good faith judgment to be not recoverable from Insurance Proceeds, Liquidation Proceeds or subsequent payments by the Borrower shall be a Non-Recoverable Advance. The determination by the Master Servicer that it has made a Non-Recoverable Advance shall be evidenced by an Officer’s 's Certificate of the Master Servicer promptly delivered to the Trustee and FMSC NMSC setting forth the reasons for such determination. Following the Trustee’s 's receipt of the Officer’s 's Certificate and FMSC’s NMSC's acceptance of such certification, the Master Servicer shall be entitled to reimbursement for such Non-Recoverable Advance as provided in Section 7.02 of these Standard Terms.

Non Recoverable Advances. Any Monthly P & I Advance or other advance previously made by the Master Servicer under this Section 5.01 which the Master Servicer shall ultimately determine in its good faith judgment to be not recoverable from Insurance Proceeds, Liquidation Proceeds or subsequent payments by the Borrower shall be a Non-Recoverable Advance. The determination by the Master Servicer that it has made a Non-Recoverable Advance shall be evidenced by an Officer’s 's Certificate of the Master Servicer promptly delivered to the Trustee and FMSC setting forth the reasons for such determination. Following the Trustee’s 's receipt of the Officer’s 's Certificate and FMSC’s 's acceptance of such certification, the Master Servicer shall be entitled to reimbursement for such Non-Recoverable Advance as provided in Section 7.02 of these Standard Terms.