Common use of Compensation to the Master Servicer Clause in Contracts

Compensation to the Master Servicer. Pursuant to Section 4.07(e), all income and gain realized from any investment of funds in the Collection Account shall be for the benefit of the Master Servicer as compensation. The provisions of this Section 4.22 are subject to the provisions of Section 6.01. 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) shall be retained by the Master Servicer (or the applicable Servicer) and shall not be deposited in the Collection 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 9 contracts

Samples: Sale and Servicing Agreement (Thornburg Mortgage Securities Corp), Custodial Agreement (Sasco Mortgage Loan Trust Series 2004-Gel2), Custodial Agreement (SASCO Mortgage Loan Trust 2004-Gel3)

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Compensation to the Master Servicer. Pursuant to Section 4.07(e), all income and gain realized from any investment of funds in the Collection Account shall be for the benefit of the Master Servicer as compensationcompensation for its services hereunder. The provisions of this Section 4.22 are subject to the provisions of Section 6.01. 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) shall be retained by the Master Servicer (or the applicable Servicer) and shall not be deposited in the Collection 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 1 contract

Samples: Transfer and Servicing Agreement (Lehman ABS Corp. Home Equity Loan Trust 2005-1)

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Compensation to the Master Servicer. Pursuant The Master Servicer shall be entitled to withdraw from the Collection Account, subject to Section 4.07(e)5.08, all income and gain realized from any investment of funds in the Collection Account shall be for the benefit of the Master Servicer as compensation. The provisions of this Section 4.22 are subject to the provisions of Section 6.01Servicing 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 Premiumprepayment premium or penalty or yield maintenance payment) shall be retained by the Master Servicer (or the applicable Servicer) and shall not be deposited in the Collection Account. In addition, the Master Servicer will be entitled to retain any Net Prepayment Interest Excess. 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. Pursuant to Section 5.07 all income and gain realized from any investment of funds in the Collection Account shall be for the benefit of the Master Servicer as Master Servicer Compensation.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (HMB Acceptance Corp.)

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