Common use of Prepayment Penalties Clause in Contracts

Prepayment Penalties. Notwithstanding anything in this Agreement to the contrary, in the event of a Principal Prepayment of a Mortgage Loan, the related Servicer may not waive any Prepayment Penalty or portion thereof required by the terms of the related Mortgage Note unless (i) the Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans to the Mortgage Loans and (b) would, in the reasonable judgment of the related Servicer, maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan or (ii)(A) the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (B) the enforceability is otherwise limited or prohibited by applicable law. For the avoidance of doubt, the related Servicer may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer shall deliver to the Trustee no later than the Business Day immediately preceding the next Distribution Date, for deposit into the Certificate Account the amount of such Prepayment Penalty (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; provided, however, the related Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy of the same from the Trustee and the Trustee failed to provide such a copy within two (2) Business Days of receipt of such request. If the related Servicer has waived all or a portion of a Prepayment Penalty for any reason, it shall promptly notify the Trustee thereof and shall include such information in any monthly reports it provides the Trustee.

Prepayment Penalties. Notwithstanding anything in this Agreement to The Servicer or any designee of the contrary, in the event of a Principal Prepayment of a Mortgage Loan, the related Servicer may shall not waive any Prepayment Penalty or portion thereof required by with respect to any Mortgage Loan that contains a Prepayment Penalty that prepays during the terms term of the related penalty. If the Servicer or its designee fails to collect the Prepayment Penalty upon any prepayment of any Mortgage Note unless Loan that contains a Prepayment Penalty, the Servicer shall deposit into the Custodial Account from the Servicer’s own funds an amount equal to the Prepayment Penalty that was not collected. Notwithstanding the above, the Servicer or its designee may waive a Prepayment Penalty without depositing the amount thereof into the Custodial Account the amount of the Prepayment Penalty if (i) the Mortgage Loan is in default sixty-one (61) days or foreseeable default more delinquent and such waiver (a) is standard and customary in servicing similar mortgage loans to the Mortgage Loans and (b) would, in the reasonable judgment of the related Servicer, would maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan or (ii)(Aii) the enforceability thereof prepayment is limited not a result of a refinance by the Servicer or any of its Affiliates and (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (Ba) the enforceability Mortgage Loan is otherwise limited or prohibited by applicable law. For foreseen to be in default and such waiver would maximize recovery of total proceeds taking into account the avoidance of doubt, the related Servicer may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer shall deliver to the Trustee no later than the Business Day immediately preceding the next Distribution Date, for deposit into the Certificate Account the amount value of such Prepayment Penalty and the related Mortgage Loan, (b) the collection of the Prepayment Penalty would be in violation of applicable laws or (c) the collection of such portion thereof as had been waived) for distribution Prepayment Penalty would be considered “predatory” pursuant to written guidance published or issued by any applicable federal, state or local regulatory authority acting in accordance with its official capacity and having jurisdiction over such matters. The Servicer shall be obligated to collect Prepayment Penalties under the terms of this Agreement; provided, however, the related Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy Loan without regard to the amount of the same from the Trustee and the Trustee failed to provide such a copy within two (2) Business Days of receipt of such request. If the related Servicer has waived all or a portion of a Prepayment Penalty set forth for any reason, it shall promptly notify such loan in the Trustee thereof and shall include such information in any monthly reports it provides the TrusteeMortgage Loan Schedule.

Prepayment Penalties. Notwithstanding anything in this Agreement to The Servicer or any designee of the contrary, in the event of a Principal Prepayment of a Mortgage Loan, the related Servicer may shall not waive any Prepayment Penalty or portion thereof required by with respect to any Mortgage Loan that contains a Prepayment Penalty that prepays during the terms term of the related penalty. If the Servicer or its designee fails to collect the Prepayment Penalty upon any prepayment of any Mortgage Note unless Loan that contains a Prepayment Penalty, the Servicer shall, at the time of such prepayment, deposit into the Custodial Account from the Servicer’s own funds an amount equal to the Prepayment Penalty that was not collected. Notwithstanding the above, the Servicer or its designee may waive a Prepayment Penalty without depositing the amount thereof into the Custodial Account the amount of the Prepayment Penalty if (i) the Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans to by the Mortgage Loans and (b) wouldrelated Mortgagor is, in the reasonable judgment of the related Servicer, reasonably foreseeable and such waiver would maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan or (ii)(Aii) the enforceability thereof prepayment is limited not a result of a refinance by the Servicer or any of its Affiliates and (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (Ba) the enforceability Mortgage Loan is otherwise limited or prohibited by applicable law. For foreseen to be in default and such waiver would maximize recovery of total proceeds taking into account the avoidance of doubt, the related Servicer may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer shall deliver to the Trustee no later than the Business Day immediately preceding the next Distribution Date, for deposit into the Certificate Account the amount value of such Prepayment Penalty and the related Mortgage Loan, (b) the collection of the Prepayment Penalty would be in violation of applicable laws or (c) the collection of such portion thereof as had been waived) for distribution Prepayment Penalty would be considered “predatory” pursuant to written guidance published or issued by any applicable federal, state or local regulatory authority acting in accordance with its official capacity and having jurisdiction over such matters. The Servicer shall be obligated to collect Prepayment Penalties under the terms of this Agreement; provided, however, the related Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy Loan without regard to the amount of the same from the Trustee and the Trustee failed to provide such a copy within two (2) Business Days of receipt of such request. If the related Servicer has waived all or a portion of a Prepayment Penalty set forth for any reason, it shall promptly notify such loan in the Trustee thereof and shall include such information in any monthly reports it provides the TrusteeMortgage Loan Schedule.

Prepayment Penalties. Notwithstanding anything in this Agreement to the contrary, in the event of a Principal Prepayment of a Mortgage Loan, the related Servicer may not waive any Prepayment Penalty or portion thereof required by the terms of the related Mortgage Note unless (i) the Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans to the Mortgage Loans and (b) would, in the reasonable judgment of the related Servicer, maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan or (ii)(A) the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (B) the enforceability is otherwise limited or prohibited by applicable law. For the avoidance of doubt, the related Servicer may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer shall deliver to the Trustee no later than the Business Day immediately preceding the next Distribution Date, for deposit into the Certificate Account the amount of such Prepayment Penalty (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; provided, however, the related Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy of the same from the Trustee and the Trustee failed to provide such a copy within two (2) Business Days of receipt of such request. If the related Servicer has waived all or a portion of a Prepayment Penalty for any reason, it shall promptly notify the Trustee thereof and shall include such information in any monthly reports it provides the Trustee. Notwithstanding any provision in this Agreement to the contrary, in the event the Prepayment Penalty payable under the terms of the Mortgage Note is different from the amount of the Prepayment Penalty set forth in the Mortgage Loan Schedule or other information provided to the related Servicer, such Servicer shall rely conclusively on the Prepayment Penalty as set forth under the terms of the Mortgage Note. To the extent the Prepayment Penalty payable under the terms of the Mortgage Note is less than the amount of the Prepayment Penalty set forth in the Mortgage Loan Schedule or other information provided to the related Servicer, such Servicer shall not have any liability or obligation with respect to such difference, and in addition shall not have any liability or obligation to pay the amount of any uncollected Prepayment Penalty if the failure to collect such amount is the direct result of inaccurate or incomplete information on the Mortgage Loan Schedule.

Prepayment Penalties. Notwithstanding anything in this Agreement to the contrary, in the event of a Principal Prepayment of a Xxxxx Fargo Serviced Mortgage Loan, the related Servicer Xxxxx Fargo, in its capacity as Servicer, may not waive any Prepayment Penalty or portion thereof required by the terms of the related Mortgage Note unless (i) the related Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans similar to the Mortgage Loans and (b) would, in the reasonable judgment of the related Xxxxx Fargo, in its capacity as Servicer, maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan or Loan, (ii)(Aii) (A) the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' ’ rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (B) the enforceability is otherwise limited or prohibited by applicable law, (iii) the enforceability would be considered “predatory” pursuant to written guidelines issued by any applicable federal, state or local authority having jurisdiction over such matters, or (iv) Xxxxx Fargo, in its capacity as Servicer, is unable to locate documentation sufficient to allow it to confirm the existence and amount of such Prepayment Penalty after using commercially reasonable efforts to locate such documentation, which efforts shall include, but are not limited to, seeking such documentation from the Depositor, the related Seller, the Custodians and from its own records or files. For the avoidance of doubt, the related Servicer Xxxxx Fargo, in its capacity as Servicer, may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer Xxxxx Fargo, in its capacity as Servicer, has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer Xxxxx Fargo, in its capacity as Servicer, shall deliver to the Trustee Trust Administrator no later than the Business Day immediately preceding the next Distribution succeeding Servicer Remittance Date, for deposit into the Certificate Account the amount of such Prepayment Penalty (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; providedAgreement and if Xxxxx Fargo, howeverin its capacity as Servicer, the related Servicer shall not have any obligation fails to pay the deliver such amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy of the same from either the Trustee and the Trustee failed to provide or DLJMC may enforce such a copy within two (2) Business Days of receipt of such requestobligation. If the related Servicer Xxxxx Fargo, in its capacity as Servicer, has waived all or a portion of a Prepayment Penalty for any reason, it shall promptly notify the Trustee thereof Trustee, the Trust Administrator and DLJMC and shall include such information in any monthly reports it provides the TrusteeTrustee and the Trust Administrator. Notwithstanding any provision in this Agreement to the contrary, in the event the Prepayment Penalty payable under the terms of the related Mortgage Note is less than the amount of the Prepayment Penalty set forth in the Mortgage Loan Schedule or other information provided to Xxxxx Fargo, Xxxxx Fargo, in its capacity as Servicer, shall not have any liability or obligation with respect to such difference. Xxxxx Fargo, as master servicer, does not have any responsibilities pursuant to Section 3.03 of this Agreement with respect to any Prepayment Penalties reported and remitted by Xxxxx Fargo as servicer.

Prepayment Penalties. Notwithstanding anything in this Agreement With respect to any Mortgage Loan that contains a Prepayment Penalty: (a) the Mortgage Loan provides some benefit to the contraryMortgagor (e.g., a rate or fee reduction) in exchange for accepting such Prepayment Penalty; (b) the Mortgage Loan’s originator had a written policy of offering the Mortgagor, or requiring third-party brokers to offer the Mortgagor, the option of obtaining a mortgage loan that did not require payment of such a Prepayment Penalty; (c) the Prepayment Penalty was adequately disclosed to the Mortgagor pursuant to applicable state and federal law; (d) no subprime Mortgagor Loan originated on or after October 1, 2002 will provide for Prepayment Penalties for a term in excess of three (3) years and any Mortgage Loans originated prior to such date, and any non-subprime loans, will not provide for Prepayment Penalties for a term in excess of five (5) years; unless the Mortgage Loan was modified to reduce the prepayment period to no more than three (3) years (in the event case of subprime loans) or five (5) years (in the case of non-subprime loans) from the date of the note and the Mortgagor was notified in writing of such reduction in prepayment period; and (e) such Prepayment Penalty may be imposed in any instance when the Mortgage Loan is accelerated or paid off in connection with the workout of a Principal Prepayment of a delinquent Mortgage LoanLoan or due to the Mortgagor’s default, the related Servicer may not waive any Prepayment Penalty or portion thereof required by notwithstanding that the terms of the related Mortgage Note unless (i) the Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans to state or federal law might permit the Mortgage Loans and (b) would, in the reasonable judgment of the related Servicer, maximize recovery of total proceeds taking into account the value imposition of such Prepayment Penalty and the related Mortgage Loan or (ii)(A) the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (B) the enforceability is otherwise limited or prohibited by applicable law. For the avoidance of doubt, the related Servicer may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer shall deliver to the Trustee no later than the Business Day immediately preceding the next Distribution Date, for deposit into the Certificate Account the amount of such Prepayment Penalty (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; provided, however, the related Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy of the same from the Trustee and the Trustee failed to provide such a copy within two (2) Business Days of receipt of such request. If the related Servicer has waived all or a portion of a Prepayment Penalty for any reason, it shall promptly notify the Trustee thereof and shall include such information in any monthly reports it provides the TrusteePenalty.

Prepayment Penalties. Notwithstanding anything in this Agreement to the contrary, in the event of a Principal Prepayment of a Mortgage LoanPrepayment, the related Servicer may not waive any Prepayment Penalty or portion thereof required by the terms of the related Mortgage Note unless (i) the related Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans to the Mortgage Loans and (b) would, in the reasonable judgment of the related Servicer, maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan or Loan, (ii)(Aii) (A) the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' creditor’s rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (B) the enforceability is otherwise limited or prohibited by applicable law. For , (iii) the avoidance enforceability would be considered “predatory” pursuant to written guidelines issued by any applicable federal, state or local authority having jurisdiction over such matters, (iv) the Servicer is unable to locate documentation sufficient to allow it to confirm the existence and amount of doubt, the related Servicer may waive a such Prepayment Penalty in connection with a short sale after using commercially reasonable efforts to locate such documentation, which efforts shall include seeking such documentation from the Owner and the Custodian and from its own records or short payoff on a defaulted Mortgage Loanfiles or (v) shall have received the prior written consent of the Owner. If the related Servicer has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided aboveabove and except with respect to any Mortgage Loan which the Owner, its designee or the related Originator has not identified as requiring a Prepayment Penalty, the related Servicer shall deliver to the Trustee Owner no later than the Business Day immediately preceding the next Distribution Date, for deposit into the Certificate Account succeeding Remittance Date the amount of such Prepayment Penalty (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; provided, however, Agreement and if the related Servicer shall not have any obligation fails to pay deliver such amount the amount of any uncollected Prepayment Penalty under this Section 4.09 if Owner may enforce such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy of the same from the Trustee and the Trustee failed to provide such a copy within two (2) Business Days of receipt of such requestobligation. If the related Servicer has waived all or a portion of a Prepayment Penalty for any reason, it shall promptly notify the Trustee thereof Owner and shall include such information in any the monthly reports report which it provides the TrusteeOwner. Notwithstanding any provision in this Agreement to the contrary, in the event the Prepayment Penalty payable under the terms of the related Mortgage Note is less than the amount of the Prepayment Penalty set forth in the Mortgage Loan Schedule or other information provided to the Servicer, the Servicer shall not have any liability or obligation with respect to such difference. This Section 4.16 shall be effective as of the date of this Agreement with respect to all Mortgage Loans subject to the Purchase Agreement after the date of this Agreement, or, with respect to all Mortgage Loans subject to the Purchase Agreement before the date of this Agreement, as of the date the Owner, its designee or the related Originator provides to the Servicer information identifying the Mortgage Loans which require Prepayment Penalties.

Prepayment Penalties. Notwithstanding anything in this Agreement to The Servicer or any designee of the contrary, in the event of a Principal Prepayment of a Mortgage Loan, the related Servicer may shall not waive any Prepayment Penalty or portion thereof required by with respect to any Mortgage Loan that contains a Prepayment Penalty that prepays during the terms term of the related penalty. If the Servicer or its designee fails to collect the Prepayment Penalty upon any prepayment of any Mortgage Note unless Loan that contains a Prepayment Penalty, the Servicer shall deposit into the Collection Account from the Servicer’s own funds an amount equal to the Prepayment Penalty that was not collected. Notwithstanding the above, the Servicer or its designee may waive a Prepayment Penalty without depositing the amount thereof into the Collection Account the amount of the Prepayment Penalty if (i) the Mortgage Loan is in default sixty-one (61) days or foreseeable default more delinquent and such waiver (a) is standard and customary in servicing similar mortgage loans to the Mortgage Loans and (b) would, in the reasonable judgment of the related Servicer, would maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan or (ii)(Aii) the enforceability thereof prepayment is limited not a result of a refinance by the Servicer or any of its Affiliates and (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (Ba) the enforceability Mortgage Loan is otherwise limited or prohibited by applicable law. For foreseen to be in default and such waiver would maximize recovery of total proceeds taking into account the avoidance of doubt, the related Servicer may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer shall deliver to the Trustee no later than the Business Day immediately preceding the next Distribution Date, for deposit into the Certificate Account the amount value of such Prepayment Penalty and the related Mortgage Loan, (b) the collection of the Prepayment Penalty would be in violation of applicable laws or (c) the collection of such portion thereof as had been waived) for distribution Prepayment Charge would be considered “predatory” pursuant to written guidance published or issued by any applicable federal, state or local regulatory authority acting in accordance with its official capacity and having jurisdiction over such matters. The Servicer shall be obligated to collect Prepayment Penalties under the terms of this Agreement; provided, however, the related Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy Loan without regard to the amount of the same from the Trustee and the Trustee failed to provide such a copy within two (2) Business Days of receipt of such request. If the related Servicer has waived all or a portion of a Prepayment Penalty set forth for any reason, it shall promptly notify such loan in the Trustee thereof and shall include such information in any monthly reports it provides the TrusteeMortgage Loan Schedule.

Prepayment Penalties. Notwithstanding anything in this Agreement to the contrary, in the event of a Principal Prepayment of a Mortgage Loan, the related Servicer may not waive any Prepayment Penalty or portion thereof required by the terms of the related Mortgage Note unless (i) the Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans to the Mortgage Loans and (b) would, in the reasonable judgment of the related Servicer, maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan or (ii)(A) the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (B) the enforceability is otherwise limited or prohibited by applicable law. For the avoidance of doubt, the related Servicer may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer shall deliver to the Trustee no later than the Business Day immediately preceding the next Distribution Date, for deposit into the Certificate Account the amount of such Prepayment Penalty (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; provided, however, the related Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy of the same from the Trustee and the Trustee failed to provide such a copy within two (2) Business Days of receipt of such request. If the related Servicer has waived all or a portion of a Prepayment Penalty for any reason, it shall promptly notify the Trustee thereof and shall include such information in any monthly reports it provides the Trustee.such

Prepayment Penalties. Notwithstanding anything in this Agreement to the contrary, in the event of a Principal Prepayment of a Xxxxx Fargo Serviced Mortgage Loan, the related Servicer Xxxxx Fargo, in its capacity as Servicer, may not waive any Prepayment Penalty or portion thereof required by the terms of the related Mortgage Note unless (i) the related Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans similar to the Mortgage Loans and (b) would, in the reasonable judgment of the related Xxxxx Fargo, in its capacity as Servicer, maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan or Loan, (ii)(Aii) (A) the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' ’ rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (B) the enforceability is otherwise limited or prohibited by applicable law, (iii) the enforceability would be considered “predatory” pursuant to written guidelines issued by any applicable federal, state or local authority having jurisdiction over such matters, or (iv) Xxxxx Fargo, in its capacity as Servicer, is unable to locate documentation sufficient to allow it to confirm the existence and amount of such Prepayment Penalty after using commercially reasonable efforts to locate such documentation, which efforts shall include, but are not limited to, seeking such documentation from the Depositor, the Seller, the Custodians and from its own records or files. For the avoidance of doubt, the related Servicer Xxxxx Fargo, in its capacity as Servicer, may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer Xxxxx Fargo, in its capacity as Servicer, has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer Xxxxx Fargo, in its capacity as Servicer, shall deliver to the Trustee Trust Administrator no later than the Business Day immediately preceding the next Distribution succeeding Servicer Remittance Date, for deposit into the Certificate Account the amount of such Prepayment Penalty (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; providedAgreement and if Xxxxx Fargo, howeverin its capacity as Servicer, the related Servicer shall not have any obligation fails to pay the deliver such amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy of the same from either the Trustee and the Trustee failed to provide or DLJMC may enforce such a copy within two (2) Business Days of receipt of such requestobligation. If the related Servicer Xxxxx Fargo, in its capacity as Servicer, has waived all or a portion of a Prepayment Penalty for any reason, it shall promptly notify the Trustee thereof Trustee, the Trust Administrator and DLJMC and shall include such information in any monthly reports it provides the TrusteeTrustee and the Trust Administrator. Notwithstanding any provision in this Agreement to the contrary, in the event the Prepayment Penalty payable under the terms of the related Mortgage Note is less than the amount of the Prepayment Penalty set forth in the Mortgage Loan Schedule or other information provided to Xxxxx Fargo, Xxxxx Fargo, in its capacity as Servicer, shall not have any liability or obligation with respect to such difference. Xxxxx Fargo, as master servicer, does not have any responsibilities pursuant to Section 3.03 of this Agreement with respect to any Prepayment Penalties reported and remitted by Xxxxx Fargo as servicer.

Prepayment Penalties. Notwithstanding anything in this Agreement to the contrary, in the event of a Principal Prepayment of a Mortgage Loan, the related Servicer may not waive any Prepayment Penalty or portion thereof required by the terms of the related Mortgage Note unless (i) the Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans to the Mortgage Loans and (b) would, in the reasonable judgment of the related Servicer, maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan or (ii)(A) the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, 95 or (B) the enforceability is otherwise limited or prohibited by applicable law. For the avoidance of doubt, the related Servicer may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer shall deliver to the Trustee no later than the Business Day immediately preceding the next Distribution Date, for deposit into the Certificate Account the amount of such Prepayment Penalty (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; provided, however, the related Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy of the same from the Trustee and the Trustee failed to provide such a copy within two (2) Business Days of receipt of such request. If the related Servicer has waived all or a portion of a Prepayment Penalty for any reason, it shall promptly notify the Trustee thereof and shall include such information in any monthly reports it provides the Trustee.

Prepayment Penalties. Notwithstanding anything in this Agreement to the contrary, in the event of a Principal Prepayment of a Mortgage Loan, the related Servicer may not waive any Prepayment Penalty or portion thereof required by the terms of the related Mortgage Note unless (i) the Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans to the Mortgage Loans and (b) would, in the reasonable judgment of the related Servicer, maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan or (ii)(A) the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (B) the enforceability is otherwise limited or prohibited by applicable law. For the avoidance of doubt, the related Servicer may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer shall deliver to the Trustee no later than the Business Day immediately preceding the next Distribution Date, for deposit into the Certificate Account the amount of such Prepayment Penalty 113 (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; provided, however, the related Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Penalty under this Section 4.09 4.10 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy of the same from the Trustee and the Trustee failed to provide such a copy within two (2) Business Days of receipt of such request. If the related Servicer has waived all or a portion of a Prepayment Penalty for any reason, it shall promptly notify the Trustee thereof and shall include such information in any monthly reports it provides the Trustee.

Prepayment Penalties. Notwithstanding anything in this Agreement to the contrary, in the event of a Principal Prepayment of Prepayment, a Mortgage LoanServicer, other than WMMSC and First Nationwide, may not waive, and the related Master Servicer may not waive permit the waiver of, any Prepayment Penalty or portion thereof required by the terms of the related Mortgage Note unless (i) with regard to Olympus Serviced Mortgage Loans or GreenPoint Serviced Mortgage Loans, the related Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans similar to the Mortgage Loans and (b) would, in the reasonable judgment of the related Servicer or the Master Servicer, as applicable, maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan Loan, or (ii)(Aii) (A) the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' ’ rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (B) the enforceability is otherwise limited or prohibited by applicable law. For the avoidance of doubt, the related a Servicer may waive waive, and the Master Servicer may permit the waiver of, a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If a Servicer, other than WMMSC and First Nationwide, has waived, or the related Master Servicer has waived permitted the waiver of, all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, such Servicer, or the related Servicer Master Servicer, as applicable, shall deliver to the Trustee Trust Administrator no later than the Business Day immediately preceding the next Distribution succeeding Cash Remittance Date, for deposit into the Certificate Account the amount of such Prepayment Penalty (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; provided, however, the related Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy of the same from the Trustee and the Trustee failed to provide such a copy within two (2) Business Days of receipt of such request. If a Servicer, other than WMMSC and First Nationwide, has waived, or the related Master Servicer has waived permitted the waiver of, all or a portion of a Prepayment Penalty for any reason, it such Servicer, or the Master Servicer, as applicable, shall promptly notify the Trustee Trust Administrator thereof and shall include such information in any monthly reports it provides the TrusteeTrust Administrator pursuant to Section 4.05.

Prepayment Penalties. Notwithstanding anything in this Agreement to the contrary, in the event of a Principal Prepayment of Prepayment, a Mortgage LoanServicer, other than WMMSC, may not waive, and the related Master Servicer may not waive permit the waiver of, any Prepayment Penalty or portion thereof required by the terms of the related Mortgage Note unless (i) with regard to Olympus Serviced Mortgage Loans or GreenPoint Serviced Mortgage Loans, the related Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans similar to the Mortgage Loans and (b) would, in the reasonable judgment of the related Servicer or the Master Servicer, as applicable, maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan Loan, or (ii)(Aii) (A) the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' ’ rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (B) the enforceability is otherwise limited or prohibited by applicable law. For the avoidance of doubt, the related a Servicer may waive waive, and the Master Servicer may permit the waiver of, a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If a Servicer, other than WMMSC, has waived, or the related Master Servicer has waived permitted the waiver of, all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, such Servicer, or the related Servicer Master Servicer, as applicable, shall deliver to the Trustee Trust Administrator no later than the Business Day immediately preceding the next Distribution succeeding Cash Remittance Date, for deposit into the Certificate Account the amount of such Prepayment Penalty (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; provided, however, the related Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy of the same from the Trustee and the Trustee failed to provide such a copy within two (2) Business Days of receipt of such request. If a Servicer, other than WMMSC, has waived, or the related Master Servicer has waived permitted the waiver of, all or a portion of a Prepayment Penalty for any reason, it such Servicer, or the Master Servicer, as applicable, shall promptly notify the Trustee Trust Administrator thereof and shall include such information in any monthly reports it provides the TrusteeTrust Administrator pursuant to Section 4.05.

Prepayment Penalties. (a) Notwithstanding anything in this Agreement to the contrary, in the event of a Principal Prepayment of a Xxxxx Fargo Serviced PP/ES Mortgage Loan, the related Servicer Xxxxx Fargo, in its capacity as Servicer, may not waive any Prepayment Penalty or portion thereof required by the terms of the related Mortgage Note unless (i) the related Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans similar to the Mortgage Loans and (b) would, in the reasonable judgment of the related Xxxxx Fargo, in its capacity as Servicer, maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan or Loan, (ii)(Aii) (A) the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' ’ rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (B) the enforceability is otherwise limited or prohibited by applicable law, (iii) the enforceability would be considered “predatory” pursuant to written guidelines issued by any applicable federal, state or local authority having jurisdiction over such matters, or (iv) Xxxxx Fargo, in its capacity as Servicer, is unable to locate documentation sufficient to allow it to confirm the existence and amount of such Prepayment Penalty after using commercially reasonable efforts to locate such documentation, which efforts shall include, but are not limited to, seeking such documentation from the Depositor, the related Seller, the Custodians and from its own records or files. For the avoidance of doubt, the related Servicer Xxxxx Fargo, in its capacity as Servicer, may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer Xxxxx Fargo, in its capacity as Servicer, has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer Xxxxx Fargo, in its capacity as Servicer, shall deliver to the Trustee Trust Administrator no later than the Business Day immediately preceding the next Distribution succeeding Servicer Remittance Date, for deposit into the Certificate Account the amount of such Prepayment Penalty (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; providedAgreement and if Xxxxx Fargo, howeverin its capacity as Servicer, the related Servicer shall not have any obligation fails to pay the deliver such amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy of the same from either the Trustee and the Trustee failed to provide or DLJMC may enforce such a copy within two (2) Business Days of receipt of such requestobligation. If the related Servicer Xxxxx Fargo, in its capacity as Servicer, has waived all or a portion of a Prepayment Penalty for any reason, it shall promptly notify the Trustee thereof Trustee, the Trust Administrator and DLJMC and shall include such information in any monthly reports it provides the TrusteeTrustee and the Trust Administrator. Notwithstanding any provision in this Agreement to the contrary, in the event the Prepayment Penalty payable under the terms of the related Mortgage Note is less than the amount of the Prepayment Penalty set forth in the Mortgage Loan Schedule or other information provided to Xxxxx Fargo, Xxxxx Fargo, in its capacity as Servicer, shall not have any liability or obligation with respect to such difference. Xxxxx Fargo, as master servicer, does not have any responsibilities pursuant to Section 3.03 of this Agreement with respect to any Prepayment Penalties reported and remitted by Xxxxx Fargo as servicer.

Prepayment Penalties. Notwithstanding anything in this Agreement to the contrary, in the event of a Principal Prepayment of a Mortgage Loan, the related Servicer may not waive any Prepayment Penalty or portion thereof required by the terms of the related Mortgage Note unless (i) the Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans to the Mortgage Loans and (b) would, in the reasonable judgment of the related Servicer, maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan or (ii)(A) the enforceability thereof is limited (1) 105 by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (B) the enforceability is otherwise limited or prohibited by applicable law. For the avoidance of doubt, the related Servicer may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer shall deliver to the Trustee no later than the Business Day immediately preceding the next Distribution Date, for deposit into the Certificate Account the amount of such Prepayment Penalty (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; provided, however, the related Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Penalty under this Section 4.09 4.10 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy of the same from the Trustee and the Trustee failed to provide such a copy within two (2) Business Days of receipt of such request. If the related Servicer has waived all or a portion of a Prepayment Penalty for any reason, it shall promptly notify the Trustee thereof and shall include such information in any monthly reports it provides the Trustee.

Prepayment Penalties. Notwithstanding anything in this Agreement to the contrary, in the event of a Principal Prepayment of a Mortgage Loan, the related Servicer may not waive any Prepayment Penalty or portion thereof required by the terms of the related Mortgage Note unless (i) the Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans to the Mortgage Loans and (b) would, in the reasonable judgment of the related Servicer, maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan or (ii)(A) the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (B) the enforceability is otherwise limited or prohibited by applicable law. For the avoidance of doubt, the related Servicer may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer shall deliver to the Trustee no later than the Business Day immediately preceding the next Distribution Date, for deposit into the Certificate Account the amount of such Prepayment Penalty (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; provided, however, the related Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy of the same from the Trustee and the Trustee failed to provide such a copy within two (2) Business Days of receipt of such request. If the related Servicer has waived all or a portion of a Prepayment Penalty for any reason, it shall promptly notify the Trustee thereof and shall include such information in any monthly reports it provides the Trustee.. 105

Prepayment Penalties. Notwithstanding anything in this Agreement to The Servicer or any designee of the contrary, in the event of a Principal Prepayment of a Mortgage Loan, the related Servicer may shall not waive any Prepayment Penalty or portion thereof required by with respect to any Mortgage Loan that contains a Prepayment Penalty that prepays during the terms term of the related penalty. If the Servicer or its designee fails to collect the Prepayment Penalty upon any prepayment of any Mortgage Note unless Loan that contains a Prepayment Penalty, the Servicer shall deposit into the Custodial Account from the Servicer’s own funds an amount equal to the Prepayment Penalty that was not collected. Notwithstanding the above, the Servicer or its designee may waive a Prepayment Penalty without depositing the amount thereof into the Custodial Account the amount of the Prepayment Penalty if (i) the Mortgage Loan is in default sixty-one (61) days or foreseeable default more delinquent and such waiver (a) is standard and customary in servicing similar mortgage loans to the Mortgage Loans and (b) would, in the reasonable judgment of the related Servicer, would maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan or (ii)(Aii) the enforceability thereof prepayment is limited not a result of a refinance by the Servicer or any of its Affiliates and (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (Ba) the enforceability Mortgage Loan is otherwise limited or prohibited by applicable law. For foreseen to be in default and such waiver would maximize recovery of total proceeds taking into account the avoidance of doubt, the related Servicer may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer shall deliver to the Trustee no later than the Business Day immediately preceding the next Distribution Date, for deposit into the Certificate Account the amount value of such Prepayment Penalty and the related Mortgage Loan, (b) the collection of the Prepayment Penalty would be in violation of applicable laws or (c) the collection of such portion thereof as had been waived) for distribution Prepayment Charge would be considered “predatory” pursuant to written guidance published or issued by any applicable federal, state or local regulatory authority acting in accordance with its official capacity and having jurisdiction over such matters. The Servicer shall be obligated to collect Prepayment Penalties under the terms of this Agreement; provided, however, the related Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy Loan without regard to the amount of the same from the Trustee and the Trustee failed to provide such a copy within two (2) Business Days of receipt of such request. If the related Servicer has waived all or a portion of a Prepayment Penalty set forth for any reason, it shall promptly notify such loan in the Trustee thereof and shall include such information in any monthly reports it provides the TrusteeMortgage Loan Schedule.

Prepayment Penalties. Notwithstanding anything in this Agreement to the contrary, in Note: In the event of a Principal Securitization Transaction or Agency Sale for which Xxxxxxx Mac representations and warranties are required, Section 3.02 (ww) of this Agreement is hereby deleted in its entirety and replaced with the following: With respect to any Mortgage Loan that contains a Prepayment Charge: (a) the Mortgage Loan provides some benefit to the Mortgagor (e.g., a rate or fee reduction) in exchange for accepting such Prepayment Charge; (b) the Mortgage Loan’s originator had a written policy of offering the Mortgagor, or requiring third-party brokers to offer the Mortgagor, the option of obtaining a mortgage loan that did not require payment of such a Prepayment Charge; (c) the Prepayment Charge was adequately disclosed to the Mortgagor pursuant to applicable state and federal law; (d) no subprime Mortgagor Loan originated on or after October 1, 2002 will provide for Prepayment Charges for a term in excess of three (3) years and any Mortgage Loans originated prior to such date, and any non-subprime loans, will not provide for Prepayment Charges for a term in excess of five (5) years; unless the Mortgage Loan was modified to reduce the prepayment period to no more than three (3) years (in the case of subprime loans) or five (5) years (in the case of non-subprime loans) from the date of the note and the Mortgagor was notified in writing of such reduction in prepayment period; and (e) such Prepayment Charge shall not be imposed in any instance when the Mortgage Loan is accelerated or paid off in connection with the workout of a delinquent Mortgage LoanLoan or due to the Mortgagor’s default, the related Servicer may not waive any Prepayment Penalty or portion thereof required by notwithstanding that the terms of the related Mortgage Note unless (i) the Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans to state or federal law might permit the Mortgage Loans and (b) would, in the reasonable judgment of the related Servicer, maximize recovery of total proceeds taking into account the value imposition of such Prepayment Penalty and the related Mortgage Loan or (ii)(A) the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (B) the enforceability is otherwise limited or prohibited by applicable law. For the avoidance of doubt, the related Servicer may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer shall deliver to the Trustee no later than the Business Day immediately preceding the next Distribution Date, for deposit into the Certificate Account the amount of such Prepayment Penalty (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; provided, however, the related Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy of the same from the Trustee and the Trustee failed to provide such a copy within two (2) Business Days of receipt of such request. If the related Servicer has waived all or a portion of a Prepayment Penalty for any reason, it shall promptly notify the Trustee thereof and shall include such information in any monthly reports it provides the TrusteeCharge.

Prepayment Penalties. Notwithstanding anything in this Agreement to the contrary, in the event of a Principal Prepayment of a Mortgage Loan, the related Servicer may not waive any Prepayment Penalty or portion thereof required by the terms of the related Mortgage Note unless (i) the Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans to the Mortgage Loans and (b) would, in the reasonable judgment of the related Servicer, maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan or (ii)(A) the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (B) the enforceability is otherwise limited or prohibited by applicable law. For the avoidance of doubt, the related Servicer may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer shall deliver to the Trustee no later than the Business Day immediately preceding the next Distribution Date, for deposit into the Certificate Account the amount of such Prepayment Penalty (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; provided, however, the related Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Penalty under this Section 4.09 if such the Servicer did not have a copy of the related Mortgage Note, such the Servicer requested via email a copy of the same from the Trustee and the Trustee failed to provide such a copy within two (2) Business Days of receipt of such request. If the related Servicer has waived all or a portion of a Prepayment Penalty for any reason, it shall promptly notify the Trustee thereof and shall include such information in any monthly reports it provides the Trustee.

Prepayment Penalties. Notwithstanding anything in this Agreement With respect to any Mortgage Loan that contains a Prepayment Penalty: (a) the Mortgage Loan provides some benefit to the contraryMortgagor (e.g., a rate or fee reduction) in exchange for accepting such Prepayment Penalty; (b) the event Mortgage Loan’s originator had a written policy of offering the Mortgagor, or requiring third-party brokers to offer the Mortgagor, the option of obtaining a mortgage loan that did not require payment of such a Prepayment Penalty; (c) the Prepayment Penalty was adequately disclosed to the Mortgagor pursuant to applicable state and federal law; (d) no subprime Mortgagor Loan originated on or after October 1, 2002 will provide for Prepayment Penalties for a term in excess of three years and any Mortgage Loans originated prior to such date, and any non-subprime loans, will not provide for Prepayment Penalties for a term in excess of five years; in each case unless the Mortgage Loan was modified to reduce the prepayment period to no more than three years from the date of the note and the Mortgagor was notified in writing of such reduction in prepayment period; and (e) such Prepayment Penalty shall not be imposed in any instance when the Mortgage Loan is accelerated or paid off in connection with the workout of a Principal Prepayment of a delinquent Mortgage LoanLoan or due to the Mortgagor’s default, the related Servicer may not waive any Prepayment Penalty or portion thereof required by notwithstanding that the terms of the related Mortgage Note unless (i) the Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans to state or federal law might permit the Mortgage Loans and (b) would, in the reasonable judgment of the related Servicer, maximize recovery of total proceeds taking into account the value imposition of such Prepayment Penalty and the related Mortgage Loan or (ii)(A) the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (B) the enforceability is otherwise limited or prohibited by applicable law. For the avoidance of doubt, the related Servicer may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer shall deliver to the Trustee no later than the Business Day immediately preceding the next Distribution Date, for deposit into the Certificate Account the amount of such Prepayment Penalty (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; provided, however, the related Servicer shall not have any obligation to pay the amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy of the same from the Trustee and the Trustee failed to provide such a copy within two (2) Business Days of receipt of such request. If the related Servicer has waived all or a portion of a Prepayment Penalty for any reason, it shall promptly notify the Trustee thereof and shall include such information in any monthly reports it provides the TrusteePenalty.

Prepayment Penalties. Notwithstanding anything in this Agreement to the contrary, in the event of a Principal Prepayment of a Mortgage Prepayment Penalty Loan, the related Servicer may not waive any Prepayment Penalty or portion thereof required by the terms of the related Mortgage Note unless (i) the related Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans similar to the Mortgage Loans and (b) would, in the reasonable judgment of the related Servicer, Servicer maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan or Loan, (ii)(Aii) (A) the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' ’ rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (B) the enforceability is otherwise limited or prohibited by applicable law, (iii) the enforceability would be considered “predatory” pursuant to written guidelines issued by any applicable federal, state or local authority having jurisdiction over such matters, (iv) the related Servicer is unable to locate documentation sufficient to allow it to confirm the existence and amount of such Prepayment Penalty after using commercially reasonable efforts to locate such documentation, which efforts shall include, but are not limited to, seeking such documentation from the Depositor, the related Seller, the Custodians and from its own records or files or (v) the related Mortgaged Property has been damaged such that the current value of the property has been reduced by at least half as a result of a natural disaster or other insured or uninsured peril, and the Mortgagor has elected to pay the related Mortgage Loan in full rather than rebuild the Mortgaged Property. For the avoidance of doubt, doubt the related Servicer may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, above the related Servicer shall deliver to the Trustee Trust Administrator no later than the Business Day immediately preceding the next Distribution succeeding Servicer Remittance Date, for deposit into the Certificate Account the amount of such Prepayment Penalty (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; provided, however, Agreement and if the related Servicer shall not have any obligation fails to pay the deliver such amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy of the same from either the Trustee and the Trustee failed to provide or DLJMC may enforce such a copy within two (2) Business Days of receipt of such requestobligation. If the related Servicer fails has waived all or a portion of a Prepayment Penalty for any reason, it shall promptly notify the Trustee thereof Trustee, the Trust Administrator and DLJMC and shall include such information in any monthly reports it provides the TrusteeTrustee and the Trust Administrator. Notwithstanding any provision in this Agreement to the contrary, in the event the Prepayment Penalty payable under the terms of the related Mortgage Note is less than the amount of the Prepayment Penalty set forth in the Mortgage Loan Schedule or other information provided to the related Servicer fails shall not have any liability or obligation with respect to such difference. Xxxxx Fargo, as master servicer, does not have any responsibilities pursuant to Section 3.03 of this Agreement with respect to any Prepayment Penalties reported and remitted by Xxxxx Fargo as servicer.

Prepayment Penalties. Notwithstanding anything in this Agreement to the contrary, in the event of a Principal Prepayment of a Xxxxx Fargo Serviced Mortgage Loan, the related Servicer Xxxxx Fargo, in its capacity as Servicer, may not waive any Prepayment Penalty or portion thereof required by the terms of the related Mortgage Note unless (i) the related Mortgage Loan is in default or foreseeable default and such waiver (a) is standard and customary in servicing similar mortgage loans similar to the Mortgage Loans and (b) would, in the reasonable judgment of the related Xxxxx Fargo, in its capacity as Servicer, maximize recovery of total proceeds taking into account the value of such Prepayment Penalty and the related Mortgage Loan or Loan, (ii)(Aii) (A) the enforceability thereof is limited (1) by bankruptcy, insolvency, moratorium, receivership, or other similar law relating to creditors' ’ rights generally or (2) due to acceleration in connection with a foreclosure or other involuntary payment, or (B) the enforceability is otherwise limited or prohibited by applicable law, (iii) the enforceability would be considered “predatory” pursuant to written guidelines issued by any applicable federal, state or local authority having jurisdiction over such matters, or (iv) Xxxxx Fargo, in its capacity as Servicer, is unable to locate documentation sufficient to allow it to confirm the existence and amount of such Prepayment Penalty after using commercially reasonable efforts to locate such documentation, which efforts shall include, but are not limited to, seeking such documentation from the Depositor, the applicable Seller, the Custodians and from its own records or files. For the avoidance of doubt, the related Servicer Xxxxx Fargo, in its capacity as Servicer, may waive a Prepayment Penalty in connection with a short sale or short payoff on a defaulted Mortgage Loan. If the related Servicer Xxxxx Fargo, in its capacity as Servicer, has waived all or a portion of a Prepayment Penalty relating to a Principal Prepayment, other than as provided above, the related Servicer Xxxxx Fargo, in its capacity as Servicer, shall deliver to the Trustee Trust Administrator no later than the Business Day immediately preceding the next Distribution succeeding Servicer Remittance Date, for deposit into the Certificate Account the amount of such Prepayment Penalty (or such portion thereof as had been waived) for distribution in accordance with the terms of this Agreement; providedAgreement and if Xxxxx Fargo, howeverin its capacity as Servicer, the related Servicer shall not have any obligation fails to pay the deliver such amount of any uncollected Prepayment Penalty under this Section 4.09 if such Servicer did not have a copy of the related Mortgage Note, such Servicer requested via email a copy of the same from either the Trustee and the Trustee failed to provide or DLJMC may enforce such a copy within two (2) Business Days of receipt of such requestobligation. If the related Servicer Xxxxx Fargo, in its capacity as Servicer, has waived all or a portion of a Prepayment Penalty for any reason, it shall promptly notify the Trustee thereof Trustee, the Trust Administrator and DLJMC and shall include such information in any monthly reports it provides the TrusteeTrustee and the Trust Administrator. Notwithstanding any provision in this Agreement to the contrary, in the event the Prepayment Penalty payable under the terms of the related Mortgage Note is less than the amount of the Prepayment Penalty set forth in the Mortgage Loan Schedule or other information provided to Xxxxx Fargo, Xxxxx Fargo, in its capacity as Servicer, shall not have any liability or obligation with respect to such difference. Xxxxx Fargo, as master servicer, does not have any responsibilities pursuant to Section 3.03 of this Agreement with respect to any Prepayment Penalties reported and remitted by Xxxxx Fargo as servicer.