Excess Servicing Clause Samples

Excess Servicing. The Servicer shall direct the Trustee to apply (and the Trustee shall so apply), on each Distribution Date, Excess Servicing for such Distribution Date to make the following distributions in the following priority: (a) an amount equal to the aggregate outstanding amounts of the Monthly Servicing Fee which have been previously waived pursuant to Section 3.1 shall be distributed to the Servicer; and (b) the balance, if any, shall be distributed to the Seller.
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Excess Servicing. The Servicer shall cause the Trustee to apply, on each Distribution Date, commencing with the Initial Distribution Date, Excess Servicing with respect to the Collection Period immediately preceding such Distribution Date, to make the following distributions in the following priority: (a) an amount equal to the aggregate amount of Investor Charge-Offs which have not been previously reimbursed as provided in Section 4.09 (after giving effect to the allocation on such Distribution Date of any amount for that purpose pursuant to Section 4.09) shall be treated as a portion of Available Investor Principal Collections with respect to such Distribution Date; (b) an amount equal to the aggregate outstanding amounts of the Certificateholders Monthly Servicing Fee which have been previously waived pursuant to Section 3.01 shall be distributed to the Servicer; and (c) the balance, if any, shall be distributed to the Seller.
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Excess Servicing. The Servicer shall cause the Trustee to apply, on each Distribution Date, Excess Servicing with respect to the Collection Period immediately preceding such Distribution Date, to make the following distributions in the following priority: (a) an amount equal to the aggregate amount of Investor Charge-Offs which have not been previously reimbursed as provided in Section 4.09 (after giving effect to the allocation on such Distribution Date of any amount for that purpose pursuant to Section 4.09) shall be treated as a portion of Available Investor Principal Collections with respect to such Distribution Date; (b) an amount equal to the aggregate outstanding amounts of the Certificateholders Monthly Servicing Fee which have been previously waived pursuant to Section 3.01 shall be distributed to the Servicer; and (c) the balance, if any, shall be distributed to the Seller.
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Excess Servicing. The Servicer shall by written instruction cause the Trustee to apply to the extent not already so distributed, on each Distribution Date, Excess Servicing with respect to the Collection Period immediately preceding such Distribution Date, to make the following distributions in the following priority: (a) an amount equal to the aggregate amount of Investor Charge-Offs which have not been previously reimbursed as provided in Section 4.08 hereof (after giving effect to the allocation on such Distribution Date of any amount for that purpose pursuant to Section 4.08(a) hereof) shall be treated as a portion of Available Investor Principal Collections with respect to such Distribution Date; (b) an amount equal to the aggregate outstanding amounts of any Monthly Servicing Fees which have been previously waived pursuant to Section 3.01 hereof and which have not been previously paid pursuant to this Section 4.09(b) shall be distributed to the Servicer; and (c) the balance, if any, shall be distributed (or otherwise made available) to the Holder(s) of the BCRC Certificate and any Supplemental Certificate(s), pro rata in accordance with the respective percentage interests thereof.
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Excess Servicing. Subservicer understands that certain of the Mortgage loans may constitute SMBS Mortgage Loans as defined herein. Subservicer will deposit as soon as practicable, but not later than the second Business Day after receipt by the Subservicer, that portion of each borrower’s monthly payment on the SMBS Mortgage Loans that represents Excess Yield in a custodial account to be established for the benefit of certificateholders in compliance with the requirements set forth in ▇▇▇▇▇▇ ▇▇▇ Forms 1013 and 1072 or as otherwise directed by ▇▇▇▇▇▇ ▇▇▇ (the “Excess Yield Custodial Account”). At least one (1) day prior to drafting (a “Fee Drafting Date”) any Excess Yield from the Excess Yield Custodial Account, ▇▇▇▇▇▇ ▇▇▇ will notify Subservicer of the monthly aggregate Excess Yield amount (the “Excess Yield Remittance Amount”) which will be drafted from the Excess Yield Custodial Account, and Subservicer has the obligation to make advances to ensure that the Excess Yield Custodial Account contains the Excess Yield Remittance Amount, even if such amounts have not been actually collected by Subservicer. The reported Excess Yield Remittance Amount will be calculated on a 30/360 basis and will equal 30 days’ interest at the applicable Excess Yield rate on the scheduled principal balance of each SMBS Mortgage Loan after giving effect to (i) scheduled principal payments due on such SMBS Mortgage Loan during the one-month due period ending on the first day of the calendar month immediately preceding the month in which the Fee Drafting Date occurs and (ii) any unscheduled principal payments collected on such SMBS Mortgage Loan during or prior to the calendar month second preceding the month in which the Fee Drafting Date occurs. In addition, if a principal prepayment in full of a SMBS Mortgage Loan that is received on the first day of a calendar month is treated by ▇▇▇▇▇▇ ▇▇▇ for MBS purposes as if received on the last day of the preceding month, it will be treated in the same fashion for purposes of the preceding sentence. As provided in Section 2.13 (b), Subservicer shall be entitled to reimbursement of all Excess Yield deposits made pursuant to this subsection which have not been actually collected by Subservicer. In addition, Subservicer agrees to produce such other reports and perform such functions as may be required to allow Purchaser and Subservicer to service such SMBS Mortgage Loans in compliance with the documents governing such SMBS Mortgage Loans.
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Excess Servicing. 27 SECTION 4.10. Principal Collections.............................................................................28 SECTION 4.11. Excess Funding Account............................................................................28
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Excess Servicing. The Servicer shall cause the Trustee to apply, on each Distribution Date, commencing with the Initial Distribution Date, Excess Servicing with
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Excess Servicing. The Servicer shall cause the Trustee to apply, on each Distribution Date, commencing with the Initial Distribution Date, Excess Servicing with respect to the Collection Period immediately preceding such Distribution Date, to make the following distributions in the following priority: (a) an amount equal to the aggregate amount of Investor Charge-Offs which have not been previously reimbursed as provided in Section 4.09 (after giving effect to the allocation on such Distribution Date of any amount for that purpose pursuant to Section 4.09) shall be treated as a portion of Available Investor Principal Collections with respect to such Distribution Date; (b) if the Assets Receivables Rate with respect to the Collection Period immediately preceding such Distribution Date is less than the Yield Protection Rate with respect to such Distribution Date, the balance, if any, up to an amount equal to the difference between the Yield Supplement Account Maximum Amount with respect to such Distribution Date and the amount on deposit in the Yield Supplement Account (after giving effect to all distributions therefrom on such Distribution Date), shall be deposited to the Yield Supplement Account; (c) an amount equal to the sum of any amounts payable pursuant to Section 4.15 or Section 10.01 shall be paid to the applicable Series 1995-5 Certificateholder or Affected Party; (d) an amount equal to the aggregate outstanding amounts of the Certificateholders' Monthly Servicing Fee which have been previously waived pursuant to Section 3.01 shall be distributed to the Servicer; and (e) the balance, if any, shall be distributed to the Seller.
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Excess Servicing. The Servicer shall cause the Trustee to apply, on each Distribution Date [with respect to Collection Period that ends prior to the Fully Reinvested Date] [or any such Collection Period thereafter during the Revolving Period], Excess Servicing with respect to the Collection Period immediately preceding such Distribution Date, to make the following distributions in the following priority: (a) an amount equal to the aggregate amount of Investor Charge-Offs which have not been previously reimbursed as provided in Section 4.09 (after giving effect to the allocation on such Distribution Date of any amount for that purpose pursuant to Section 4.09) shall be treated as a portion of Available Investor Principal Collections with respect to such Distribution Date; (b) an amount equal to the aggregate outstanding amounts of the Certificateholders Monthly Servicing Fee which have been previously waived pursuant to Section 3.01 shall be distributed to the Servicer; and (c) describe other applications;] and (d) the balance, if any, shall be [distributed to the Seller][treated as Excess Interest Collections].
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Related to Excess Servicing

  • Loan Servicing The servicing practices used with respect to each Mortgage Loan have been in all material respects legal, proper, and prudent.

  • Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping (a) Upon determining that any Serviced Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Loan, the Special Servicer shall promptly give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer. (b) In servicing any Specially Serviced Loan, the Special Servicer shall provide to the Custodian originals of documents included within the definition of “Mortgage File” for inclusion in the related Mortgage File (to the extent such documents are in the possession of the Special Servicer) and copies of any additional related Serviced Loan information, including correspondence with the related Mortgagor, and the Special Servicer shall promptly provide copies of all of the foregoing to the Master Servicer as well as copies of any analysis or internal review prepared by or for the benefit of the Special Servicer. (c) Notwithstanding the provisions of subsections (a) and (b) of this Section 3.22, the Master Servicer shall maintain ongoing payment records with respect to each of the Specially Serviced Loans and, upon request, shall provide the Special Servicer and the Operating Advisor with any information reasonably required by the Special Servicer or the Operating Advisor to perform its duties under this Agreement to the extent such information is within the Master Servicer’s possession. Upon request, the Special Servicer shall provide the Master Servicer and the Operating Advisor with any information reasonably required by the Master Servicer or the Operating Advisor to perform its duties under this Agreement to the extent such information is within the Special Servicer’s possession.

  • Trunk Servicing Orders between the Parties to establish, add, change or disconnect trunks shall be processed by use of an ASR, or another industry standard eventually adopted to replace the ASR for trunk ordering.

  • FTPS Unit Servicing Agent FTP Services LLC acts as record keeper, shareholder servicing agent and distribution agent for Units which are purchased and sold through the Fund/SERV(R) trading system or on a manual basis through FTP Services LLC. ("FTPS Units"). (a) The FTPS Unit Servicing Agent shall perform all of the duties with respect to recordkeeping of FTPS Units and FTPS Unit holders, distributions, redemption of FTPS Units and communications to and with FTPS Unit holders listed below. (1) The FTPS Unit Servicing Agent shall keep proper books of record and account of all of the transactions in the FTPS Units of each Trust under this Indenture at its corporate office, including a record of the name and address of, and the FTPS Units issued by each Trust and held by, every FTPS Unit holder, and such books and records of each Trust shall be made available to the Trustee and the Depositor promptly upon request and open to inspection by any FTPS Unit holder of such Trust, with respect to such FTPS Unit holders transactions, at all reasonable times during usual business hours. Without limiting the foregoing, the FTPS Unit Servicing Agent shall make any records or documents described in Reg. 270.31(a)-1 under the Investment Company Act of 1940 available promptly to the Trustee and the Depositor upon request during usual business hours and will preserve such records and documents for the periods prescribed in Reg. 270.31 (a) 2 thereunder. (2) The FTPS Unit Servicing Agent shall distribute on or shortly after the Distribution Dates specified in the Trust Agreement to each FTPS Unit holder of record on its books on the Record Date for each such Distribution Date specified in the Trust Agreement such FTPS Unit holder's distribution as computed under the Standard Terms and Conditions of Trust. (3) In connection with such distributions set forth above, the FTPS Unit Servicing Agent shall furnish a Distribution Statement to FTPS Unit holders of record on its books. The content and frequency of such Distribution Statements shall in no respect be less detailed or frequent than that specified in Section 3.06 of the Standard Terms and Conditions of Trust.

  • Servicing Rights Except as provided in the Pooling and Servicing Agreement, any permitted subservicing agreements and servicing rights purchase agreements pertaining thereto, no Person has been granted or conveyed the right to service any Mortgage Loan or receive any consideration in connection therewith which will remain in effect after the Closing Date.