Examples of Servicing Advances in a sentence
Servicing Advances may not be recovered out of Pool Proceeds except from amounts received with respect to the Mortgage Loan as to which such Servicing Advances were made, or as otherwise permitted under the related Mortgage Documents or Servicing Contract.
If the Trustee is prohibited by applicable law or regulation from obligating itself to make Delinquency Advances or Servicing Advances, then the Trustee will not be obligated to make Delinquency Advances or Servicing Advances, as the case may be.
The Master Servicer may, but is not required to, make Servicing Advances.
After paying all Guaranty Reimbursement Amounts, the Trustee is authorized to pay to the Issuer (as the prior Master Servicer) and the successor Master Servicer, as applicable, reimbursements for Delinquency Advances and Servicing Advances to the same extent that each of them would otherwise have been entitled to reimbursement for their respective Delinquency Advances and Servicing Advances.
The Company shall be responsible for all other costs and expenses incurred by it in any such proceedings; provided that such costs and expenses shall be Servicing Advances and that it shall be entitled to reimbursement thereof from the proceeds of liquidation of the related Mortgaged Property, as contemplated in Section 5.02.