Common use of Prepayment Interest Shortfalls Clause in Contracts

Prepayment Interest Shortfalls. (a) Affiliated mortgage loans. CitiMortgage will deposit in the certificate account on the business day preceding each distribution day the aggregate prepayment interest shortfall on the affiliated mortgage loans for the preceding month provided that such deposit need not exceed the lesser of · the aggregate amount of the collected servicing fees on the affiliated mortgage loans for the month preceding such distribution day and · one-half the scheduled servicing fee on the affiliated mortgage loans for that month. Such deposit will not be considered to be a voluntary advance by CitiMortgage, and will not be reimbursable to CitiMortgage from the certificate account or otherwise.

Appears in 20 contracts

Samples: Pooling Agreement (Citicorp Mortgage Securities Inc), Pooling Agreement (Citicorp Mortgage Securities Inc), Pooling Agreement (Citicorp Mortgage Securities Inc)

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