Common use of Compensation for the Servicers and the Master Servicer Clause in Contracts

Compensation for the Servicers and the Master Servicer. The Master Servicer will be entitled to the sum of (i) the Master Servicing Fee Rate multiplied by the Scheduled Principal Balance of each related Mortgage Loan as of the Due Date in the month preceding the month in which the related Distribution Date occurs (the "Master Servicing Fee") and (ii) all income and gain realized from any investment of funds in the Distribution Account with respect to the related Distribution Date (clauses (i) and (ii) collectively, the "Master Servicing Compensation"). Servicing compensation in the form of assumption fees, if any, late payment charges, as collected, if any, or otherwise (but not including any prepayment premium or penalty) shall be retained by the related Servicer and shall not be deposited in the related Protected Account. The Master Servicer will be entitled to retain, as additional compensation, any interest remitted by the related Servicer in connection with a Principal Prepayment in full or otherwise in excess of amounts required to be remitted to the Distribution Account. The Master Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder and shall not be entitled to reimbursement therefor except as provided in this Agreement.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2004-Ar8), Pooling and Servicing Agreement (Structured Asset Mortgage Investments Ii Trust Series 2005-Ar1), Pooling and Servicing Agreement (Structured Asset Mortgage Investments II Trust 2004-Ar7)

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