Common use of Obligations of the Servicer in Respect of Prepayment Interest Shortfalls Clause in Contracts

Obligations of the Servicer in Respect of Prepayment Interest Shortfalls. The Servicer shall deliver to the Trustee for deposit into the Distribution Account on or before 3:00 p.m. New York time on the Servicer Remittance Date from its own funds an amount (“Compensating Interest”) equal to the lesser of (i) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Date resulting solely from Principal Prepayments during the related Prepayment Period and (ii) the amount of its aggregate Servicing Fee for the most recently ended calendar month.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He3), Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He2), Pooling and Servicing Agreement (WaMu Asset-Backed Certificates, WaMu Series 2007-He2)

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Obligations of the Servicer in Respect of Prepayment Interest Shortfalls. The Servicer shall deliver to the Trustee for deposit into the Distribution Account on or before 3:00 p.m. New York time on the Servicer Remittance Date from its own funds an amount (“Compensating Interest”) equal to the lesser of (i) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Date resulting solely from Principal Prepayments during the related Prepayment Collection Period and (ii) the total amount of its aggregate Servicing Fee for the most recently ended calendar month.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp), Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)

Obligations of the Servicer in Respect of Prepayment Interest Shortfalls. The Servicer shall deliver to the Indenture Trustee for deposit into the Distribution Payment Account on or before 3:00 p.m. New York time on the Servicer Remittance Date from its own funds an amount (“Compensating Interest”) equal to the lesser of (i) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Payment Date resulting solely from Principal Prepayments during the related Prepayment Period and (ii) the amount of its aggregate Servicing Fee for the most recently ended calendar month.

Appears in 3 contracts

Samples: Servicing Agreement (Salomon Br Mor Sec Vii Inc Series 1998-11), Servicing Agreement (Salomon Br Mor Sec Vii Inc Series 1998-11), Servicing Agreement (Salomon Br Mor Sec Vii Inc Series 1998-11)

Obligations of the Servicer in Respect of Prepayment Interest Shortfalls. The Servicer shall deliver to the Indenture Trustee for deposit into the Distribution Account on or before 3:00 p.m. New York time on the Servicer Remittance Date from its own funds an amount (“Compensating Interest”) equal to the lesser of (i) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Payment Date resulting solely from Principal Prepayments during the related Prepayment Collection Period and (ii) the total amount of its aggregate Servicing Fee for the most recently ended calendar month.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Prudential Securities Secured Financing Corp), Prudential Securities Secured Financing Corp

Obligations of the Servicer in Respect of Prepayment Interest Shortfalls. The Servicer shall deliver to the Indenture Trustee for deposit into the Distribution Account on or before 3:00 p.m. New York time on the Servicer Remittance Date from its own funds an amount (“Compensating Interest”) equal to the lesser of (i) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Payment Date resulting solely from Principal Prepayments during the related Prepayment Collection Period and (ii) the total amount of its aggregate Servicing Fee for the most recently ended calendar month.. 38

Appears in 1 contract

Samples: Sale and Servicing Agreement (Prudential Securities Secured Financing Corp)

Obligations of the Servicer in Respect of Prepayment Interest Shortfalls. The Servicer shall deliver to the Trustee Trust Administrator for deposit into the Distribution Account on or before 3:00 p.m. New York time on the Servicer Remittance Date from its own funds an amount (“Compensating Interest”) equal to the lesser of (i) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Date resulting solely from Principal Prepayments during the related Prepayment Collection Period and (ii) the total amount of its aggregate Servicing Fee for the most recently ended calendar month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Prudential Securities Secured Financing Corp)

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Obligations of the Servicer in Respect of Prepayment Interest Shortfalls. The Servicer shall deliver to the Trustee for deposit into the Distribution Account on or before 3:00 p.m. New York time on the Servicer Remittance Date from its own funds an amount (such amount, "Compensating Interest") equal to the lesser of (i) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Date resulting solely from Principal Prepayments during the related Prepayment Period and (ii) up to one-half of the amount of its aggregate Servicing Fee for the most recently ended calendar month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset Backed Securities Corp Home Equity Ln Tr Ser 2001-He2)

Obligations of the Servicer in Respect of Prepayment Interest Shortfalls. The Servicer shall deliver to the Indenture Trustee for deposit into the Distribution Account on or before 3:00 p.m. New York time on the Servicer Remittance Date from its own funds an amount (“Compensating Interest”) equal to the lesser of (i) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Date resulting solely from Principal Prepayments during the related Prepayment Collection Period and (ii) the total amount of its aggregate Servicing Fee for the most recently ended calendar month.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Prudential Securities Secured Financing Corp)

Obligations of the Servicer in Respect of Prepayment Interest Shortfalls. The Servicer shall deliver to the Trustee for deposit into the Distribution Account on or before 3:00 p.m. New York time on the Servicer Remittance Date from its own funds an amount (“Compensating Interest”) equal to the lesser of (i) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Date resulting solely from Principal Prepayments during the related Prepayment Period and (ii) the amount of its aggregate Servicing Fee for the most recently ended calendar month.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset Backed Securities Corp)

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