Additional Servicing Compensation Sample Clauses

The Additional Servicing Compensation clause defines the circumstances under which a service provider is entitled to receive extra payment beyond their standard fees for performing certain services. Typically, this clause applies when the provider undertakes tasks that are outside the scope of the original agreement, such as handling special requests, managing unexpected events, or performing additional administrative duties. Its core function is to ensure that service providers are fairly compensated for extra work, thereby clarifying expectations and reducing disputes over payment for services not initially contemplated in the contract.
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Additional Servicing Compensation. Without limitation to Section 1 of this Schedule II, the Company shall make reimbursement payments to the Servicer as follows: (a) in consideration of its servicing activities under the Agreement and the Servicing Agreement, the Servicer shall be entitled to receive, with respect to any Charged-Off Loan, (i) a monthly amount equal to $200 per annum per Charged-Off Loan multiplied by one-twelfth for the period beginning on the date the Loan becomes a Charged-Off Loan until the earliest of (A) the disposition of the Charged-Off Loan by the Servicer, (B) three months from the date the Loan becomes a Charged-Off Loan if no payments have been received during such period and (C) if a payment is received on the Loan post-charge-off, three months after the date of last receipt of a payment on the account post-charge-off; provided, however, that in the case of clauses (B) or (C) above, if any payments resume on a Charged-Off Loan in any month, the Servicer shall receive a fee for each such Charged-Off Loan for such month in an amount equal to the product of (A) $200 multiplied by (B) one-twelfth; (b) all reasonable fees, costs, and expenses paid by the Servicer to a third party in connection with (i) the enforcement of any defaulted Loan, including any judicial proceedings with respect to a Loan, (ii) the collection or sale of any defaulted Loan, (iii) the preparation and recording of any assignment of mortgage related to the Loans as required by law or under the Portfolio Loan Purchase Agreement and the preparation, delivery and recording of any lien or loan release in connection with the payoff or settlement of any Loan and (iv) the transportation, storage, imaging, maintenance and disposal (taking into account record retention requirements applicable to such documents) of the legal and servicing files related to the Loans (including any custodial costs) and, to the extent required by law, the return of any such file to a Loan Obligor upon the payoff or settlement of a Loan; (c) all reasonable fees, costs and expenses paid by the Servicer to a third party and all reasonable internal costs and expenses of the Servicer and any Subservicer in connection with managing counterclaims made by Loan Obligors or Subservicer related to the Loans, provided that (the internal costs and expenses of the Servicer under this clause (c) shall not exceed $500,000 (as allocated among the Purchaser Entities) in the aggregate for any 12-month period hereunder; and (d) solely with resp...
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Additional Servicing Compensation in the form of prepayment charges, assumption fees, late payment charges, investment income on amounts in the Custodial Account or otherwise shall be retained by the Servicer or the Subservicer to the extent provided herein, subject to clause (e) below.
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Additional Servicing Compensation. I-1 Addition Notice . . . . . . . . . . . . . . . . . . . . . . . .
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Related to Additional Servicing Compensation

  • Servicing Compensation (a) As compensation for its activities hereunder, the Servicer shall, with respect to each Mortgage Loan, be entitled to retain from deposits to the Collection Account and from Liquidation Proceeds, Condemnation Proceeds, Insurance related Proceeds, Subsequent Recoveries and REO Proceeds related to such Mortgage Loan, the Servicing Fee with respect to each Mortgage Loan (less any portion of such amounts retained by any Subservicer). In addition, the Servicer shall be entitled to recover unpaid Servicing Fees out of related Late Collections and as otherwise permitted under Section 3.11. The right to receive the Servicing Fee may not be transferred in whole or in part except in connection with the transfer of all of the Servicer’s responsibilities and obligations under this Agreement; provided, however, that the Servicer may pay from the Servicing Fee any amounts due to a Subservicer pursuant to a Subservicing Agreement entered into under Section 3.02. (b) Additional servicing compensation in the form of assumption or modification fees, late payment charges, NSF fees, reconveyance fees and other similar fees and charges (other than Prepayment Charges) shall be retained by the Servicer only to the extent such fees or charges are received by the Servicer. The Servicer shall also be entitled pursuant to Section 3.11(a)(iv) to withdraw from the Collection Account, as additional servicing compensation, interest or other income earned on deposits therein. The Servicer shall also be entitled as additional servicing compensation, to interest or other income earned on deposits in the Escrow Account (to the extent permitted by law and the related Mortgage Loan documents) in accordance with Section 3.12. The Servicer shall also be entitled to retain net Prepayment Interest Excesses (to the extent not required to offset Prepayment Interest Shortfalls), but only to the extent such amounts are received by the Servicer. (c) The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including payment of premiums for any blanket policy insuring against hazard losses pursuant to Section 3.13, servicing compensation of the Subservicer to the extent not retained by it and the fees and expenses of independent accountants and any agents appointed by the Servicer), and shall not be entitled to reimbursement therefor from the Trust Fund except as specifically provided in Section 3.11.

  • Master Servicing Compensation As compensation for its activities as Master Servicer hereunder and as a subservicer pursuant to the Servicing Rights Transfer and Subservicing Agreement, the Master Servicer shall be entitled to retain or withdraw from the Certificate Account an amount equal to the Master Servicing Fee for each Mortgage Loan, provided that the aggregate Master Servicing Fee with respect to any Distribution Date shall be reduced (i) by the amount of any Compensating Interest paid by the Master Servicer with respect to such Distribution Date, and (ii) with respect to the first Distribution Date, an amount equal to any amount to be deposited into the Distribution Account by the Depositor pursuant to Section 2.1(a) and not so deposited. Additional servicing compensation in the form of (i) Excess Proceeds, Prepayment Interest Excess and all income and gain net of any losses realized from Permitted Investments and (ii) prepayment penalties, assumption fees and late payment charges in each case under the circumstances and in the manner set forth in the applicable Mortgage Note or Mortgage shall be retained by the Master Servicer to the extent not required to be deposited in the Certificate Account pursuant to Section 3.5 hereof. The Master Servicer shall be required to pay all expenses incurred by it in connection with its master servicing activities hereunder (including payment of any premiums for hazard insurance and any Primary Insurance Policy and maintenance of the other forms of insurance coverage required by this Agreement) and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.

  • Servicer Compensation The Servicer shall withdraw its Servicing Fee for each Mortgage Loan net of any Month End Interest payable pursuant to Section 7.6.1 from the related Custodial P&I Account prior to the remittance of such amounts to the Certificate Account with all other payments received with respect to the Mortgage Loans.

  • Servicing Compensation; Payment of Certain Expenses by Servicer The Servicer shall be entitled to receive the Servicing Fee in accordance with Section 3.03 as compensation for its services in connection with servicing the Mortgage Loans. Moreover, additional servicing compensation in the form of late payment charges and certain other receipts not required to be deposited in the Collection Account as specified in Section 3.02 shall be retained by the Servicer. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (including payment of all other fees and expenses not expressly stated hereunder to be for the account of the Securityholders, including, without limitation, the fees and expenses of the Administrator, Owner Trustee, Indenture Trustee and any Custodian) and shall not be entitled to reimbursement therefor except as specifically provided herein.

  • Compensation for Additional Services Additional Services shall be compensated as set forth on Exhibit A for the stipulated payment amounts set forth therein. Other Additional Services not set forth on Exhibit A that are required or requested by the Owner shall be compensated as agreed, using the methodology set forth on Exhibit A, prior to the Design Professional undertaking such Additional Services; provided, however, that if such compensation cannot be agreed, the Additional Services shall be performed at the hourly rates set forth and listed in Exhibit B, plus reimbursable expenses pursuant to Article 4.1.3 below, with a limitation as to maximum amount specified.