Common use of Compensation to the Master Servicer Clause in Contracts

Compensation to the Master Servicer. Pursuant to Section 5.07(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. Notwithstanding the foregoing, the Master Servicer shall deposit in the Collection Account, on or before the related Payment Date, an amount equal to the lesser of (i) its master servicing compensation with respect to such Payment Date and (ii) the amount of any Compensating Interest Payment required to be paid by the Servicer with respect to such Payment Date pursuant to this Agreement, but which is not paid by the Servicer on its behalf. 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 8 contracts

Samples: Transfer and Servicing Agreement (Structured Asset Securities Corp), Transfer and Servicing Agreement (Aames Mortgage Investment Trust 2005-1), Transfer and Servicing Agreement (Structured Asset Securities Corp)

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Compensation to the Master Servicer. Pursuant to Section 5.07(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. Notwithstanding the foregoing, the Master Servicer shall deposit in the Collection Account, on or before the related Payment Date, an amount equal to the lesser of (i) its master servicing compensation with respect to such Payment Date and (ii) the amount of any Compensating Interest Payment required to be paid by the Servicer with respect to such Payment Date pursuant to this Agreement, but which is not paid by the Servicer or by the Subservicer on its behalf. 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 5 contracts

Samples: Custodial Agreement (NYMT Securities CORP), Transfer and Servicing Agreement (Fieldstone Mortgage Investment Trust, Series 2004-4), Transfer and Servicing Agreement (Fieldstone Mortgage Investment Trust, Series 2004-5)

Compensation to the Master Servicer. Pursuant to Section 5.07(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. Notwithstanding the foregoing, the Master Servicer shall deposit in the Collection Account, on or before the related Payment Distribution Date, an amount equal to the lesser of (i) its master servicing compensation with respect to such Payment Distribution Date and (ii) the amount of any Compensating Interest Payment required to be paid by the Servicer with respect to such Payment Distribution Date pursuant to this Agreement, but which is not paid by the Servicer or by the Subservicer on its behalf. 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 2 contracts

Samples: Transfer and Servicing Agreement (Merrill Lynch Mort Inv Fieldstone Mort Inv Tr Ser 2004-1), Transfer and Servicing Agreement (Asset Backed Sec Corp Fieldstone Mort Inv Tr Ser 2004-2)

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Compensation to the Master Servicer. Pursuant to Section 5.07(e7.4(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. Notwithstanding the foregoing, the Master Servicer shall deposit in the Collection Account, on or before the related Payment Date, an amount equal to the lesser of (ia) its master servicing compensation with respect to such Payment Date and (iib) the amount of any Compensating Interest Payment required to be paid by the Servicer with respect to such Payment Date pursuant to this Agreement, but which is not paid by the Servicer on its behalf. 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 (FBR Securitization, Inc.)

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