Monthly Advances. In the event that WFHM fails to make a Periodic Advance required to be made pursuant to the WFHM Servicing Agreement on or before the Distribution Date, the Trustee shall make a Periodic Advance as required by Section 3.03 hereof; provided, however, the Trustee shall not be required to make such Periodic Advances if prohibited by law or if it determines that such Periodic Advance would be a Nonrecoverable Advance. With respect to those Periodic Advances which should have been made by WFHM, the Trustee shall be entitled, pursuant to Section 3.02(a)(i), (ii) or (v) hereof, to be reimbursed from the Certificate Account for Periodic Advances and Nonrecoverable Advances made by it.
Appears in 89 contracts
Sources: Pooling and Servicing Agreement (Wells Fargo Mortgage Backed Securities 2002 9 Trust), Pooling and Servicing Agreement (Wells Fargo Asset Sec Corp Mort Pass THR Certs Ser 2003-A), Pooling and Servicing Agreement (Wells Fargo Asset Securities Corp Mort Ba Sec 2001-24 Trust)
Monthly Advances. In the event that WFHM fails to make a Periodic Advance required to be made pursuant to the WFHM Servicing Agreement on or before the Distribution Date, the Trustee Trust Administrator shall make a Periodic Advance as required by Section 3.03 hereof; provided, however, the Trustee Trust Administrator shall not be required to make such Periodic Advances if prohibited by law or if it determines that such Periodic Advance would be a Nonrecoverable Advance. With respect to those Periodic Advances which should have been made by WFHM, the Trustee Trust Administrator shall be entitled, pursuant to Section 3.02(a)(i), (ii) or (v) hereof, to be reimbursed from the Certificate Account for Periodic Advances and Nonrecoverable Advances made by it.
Appears in 18 contracts
Sources: Pooling and Servicing Agreement (Wells Fargo Asset Sec Corp Mort Pass THR Cert Ser 2001-12), Pooling and Servicing Agreement (Wells Fargo Asset Sec Corp Mor Ps THR Cer Ser 2001-10), Pooling and Servicing Agreement (Wells Fargo Asset Sec Corp Mort Pass THR Cert Ser 2000-2)
Monthly Advances. In the event that WFHM fails to make a Periodic Advance required to be made pursuant to the WFHM Servicing Agreement on or before the Distribution Date, the Trustee shall make a Periodic Advance as required by Section 3.03 hereof; provided, however, the Trustee shall not be required to make such Periodic Advances if prohibited by law or if it determines that such Periodic Advance would be a Nonrecoverable Advance. With respect to those Periodic Advances which should have been made by WFHM, the Trustee shall be entitled, pursuant to Section 3.02(a)(i), (ii) or (v) hereof, to be reimbursed from the Certificate Account for Periodic Advances and Nonrecoverable Advances made by it.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Wells Fargo Mortgage Backed Securities 2002-a Trust)
Monthly Advances. In the event that WFHM fails to make a Periodic Advance required to be made pursuant to the WFHM Servicing Agreement on or before the Distribution Date, the Trustee shall make a Periodic Advance as required by Section 3.03 hereof; provided, however, the Trustee shall not be required to make such Periodic Advances if prohibited by law or if it determines that such Periodic Advance would be a Nonrecoverable Advance. With respect to those Periodic Advances which should have been made by WFHM, the Trustee shall be entitled, pursuant to Section 3.02(a)(i), (ii) or (v) hereof, to be reimbursed from the Certificate Account for Periodic Advances and Nonrecoverable Advances made by it.. PICK-UP HERE ARTICLE IX
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Wells Fargo Asset Sec Corp Mor Pass THR Cert Ser 2001-18)