Common use of Prepayment Interest Shortfalls Clause in Contracts

Prepayment Interest Shortfalls. For any Mortgage Loan, Subservicer shall require Principal Prepayments to be made so as not to cause a Prepayment Interest Shortfall. If the mortgage loan documents of a related Mortgage Loan do not allow Subservicer to require Principal Prepayments (or condition acceptance of Principal Prepayments) on a date that will avoid a Prepayment Interest Shortfall ("Non-Mandatory Prepayment Date Mortgage Loan"), then Subservicer shall pay to Master Servicer on the date specified in Section 2.1(c)(iv) of this Agreement, in addition to all other amounts due for such Principal Prepayment, an amount payable by the Subservicer from its own funds without reimbursement therefor equal to any Prepayment Interest Shortfall that results from such Principal Prepayment; provided, however, that for all Principal Prepayments received during any Collection Period, the Subservicer shall in no event be required to remit an amount greater than the amount of the aggregate of the Subservicing Fees for such Collection Period.

Appears in 2 contracts

Samples: Subservicing Agreement (Morgan Stanley Capital I Trust 2006-Hq8), Subservicing Agreement (Morgan Stanley Capital I Trust 2007-Iq14)

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Prepayment Interest Shortfalls. For any Mortgage Loan, Subservicer shall require Principal Prepayments to be made so as not to cause a Prepayment Interest Shortfall. If the mortgage loan documents of a related Mortgage Loan do not allow Subservicer to require Principal Prepayments (or condition acceptance of Principal Prepayments) on a date that will avoid a Prepayment Interest Shortfall ("Non-Mandatory Prepayment Date Mortgage Loan"), then Subservicer shall pay to Capmark Master Servicer on the date specified in Section 2.1(c)(iv) of this Agreement, in addition to all other amounts due for such Principal Prepayment, an amount payable by the Subservicer from its own funds without reimbursement therefor equal to any Prepayment Interest Shortfall that results from such Principal Prepayment; provided, however, that for all Principal Prepayments received during any Collection Period, the Subservicer shall in no event be required to remit an amount greater than the amount of the aggregate of the Subservicing Fees for such Collection Period.

Appears in 2 contracts

Samples: Sub Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq16), Primary Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq15)

Prepayment Interest Shortfalls. For any Mortgage Loan, Subservicer Primary Servicer shall require Principal Prepayments to be made so as not to cause a Prepayment Interest Shortfall. If the mortgage loan documents of a related Mortgage Loan do not allow Subservicer Primary Servicer to require Principal Prepayments (or condition acceptance of Principal Prepayments) on a date that will avoid a Prepayment Interest Shortfall ("Non-Mandatory Prepayment Date Mortgage Loan"), then Subservicer Primary Servicer shall pay to Master Servicer on the date specified in Section 2.1(c)(iv2.1(e)(2) of this Agreement, in addition to all other amounts due for such Principal Prepayment, an amount payable by the Subservicer Primary Servicer from its own funds without reimbursement therefor equal to any Prepayment Interest Shortfall that results from such Principal Prepayment; provided, however, that for all Principal Prepayments received during any Collection Period, the Subservicer Primary Servicer shall in no event be required to remit an amount greater than the amount of the aggregate of the Subservicing Primary Servicing Fees for such Collection Period.

Appears in 1 contract

Samples: Morgan Stanley Capital I Trust 2007-Iq13

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Prepayment Interest Shortfalls. For any Mortgage Loan, Subservicer shall require Principal Prepayments to be made so as not to cause a Prepayment Interest Shortfall. If the mortgage loan documents of a related Mortgage Loan do not allow Subservicer to require Principal Prepayments (or condition acceptance of Principal Prepayments) on a date that will avoid a Prepayment Interest Shortfall ("Non-Mandatory Prepayment Date Mortgage Loan"), then Subservicer shall pay to Master Servicer on the date specified in Section 2.1(c)(iv2.1(e)(2) of this Agreement, in addition to all other amounts due for such Principal Prepayment, an amount payable by the Subservicer from its own funds without reimbursement therefor equal to any Prepayment Interest Shortfall that results from such Principal Prepayment; provided, however, that for all Principal Prepayments received during any Collection Due Period, the Subservicer shall in no event be required to remit an amount greater than the amount of the aggregate of the Subservicing Fees for such Collection Due Period.

Appears in 1 contract

Samples: Subservicing Agreement (COMM 2006-C7 Mortgage Trust)

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