Remittance of Servicing Fees and Related Amounts Sample Clauses

Remittance of Servicing Fees and Related Amounts. (a) Seller shall, to the extent permitted under any Deferred Servicing Agreement cause any Servicing Fees and, to the extent Seller is permitted to retain such amounts under the related Servicing Agreement, any investment income earned on any amounts or deposit in any Custodial Accounts and Escrow Accounts that are payable to Seller on or after the Closing Date under such Deferred Servicing Agreement, to be deposited directly into Purchaser’s account in accordance with Purchaser’s written directions. In any case, Seller shall within one (1) Business Day of the receipt thereof, remit to Purchaser any Servicing Fees and, to the extent Seller is permitted to retain such amounts under the related Servicing Agreement, any investment income earned on any amounts or deposit in any Custodial Accounts and Escrow Accounts that are received by Seller under any Deferred Servicing Agreement after the Closing Date. Any such amounts shall be remitted in accordance with Purchaser’s written directions.
Sample 1Sample 2Sample 3See All (7)
AutoNDA by SimpleDocs
Remittance of Servicing Fees and Related Amounts. On each Fee Remittance Date, the Seller shall remit to an account designated by the Purchaser any collections in respect of any Servicing Fees for a month received by the Seller during the prior monthly collection period (other than collections in respect of DSF). Notwithstanding the foregoing, collection and remittance of all collections on account of DSF shall be made in accordance with Section 3.6. If any Current Excess Servicing Spread Buyer exercised “Control” of the “Third Party Controlled Current Spread Custodial Account” pursuant to and in accordance with any Current Excess Servicing Spread Acquisition Agreement related to the Servicing Agreements, the Seller shall remit to Purchaser (and shall direct in writing any applicable depositary institution to remit to the Purchaser directly), any payments on account of the “Base Servicing Fee” thereunder directly to the Purchaser. If a Termination Event has occurred, the Seller shall, following Purchaser’s request therefor, withdraw from time to time collections on the Servicing Fees from the “Third Party Controlled Current Spread Custodial Account” maintained pursuant to a Current Excess Servicing Spread Acquisition Agreement amount in respect of the “Base Servicing Fee” thereunder as permitted by the related Current Excess Servicing Spread Acquisition Agreement and remit such amounts to the Purchaser as payments on account of the Servicing Fees in respect of the Servicing Agreements.
Sample 1Sample 2Sample 3See All (7)

Related to Remittance of Servicing Fees and Related Amounts

  • Servicing Fees As compensation for its servicing activities and as reimbursement for its reasonable expenses in connection therewith, the Servicer shall be entitled to receive the Servicing Fees monthly on each Settlement Date. Such Servicing Fees shall be payable from available funds in accordance with Section 2.07 and 2.08 of the Funding Agreement. The Servicer shall be required to pay for all expenses incurred by it in connection with its activities hereunder (including any payments to accountants, counsel or any other Person) and shall not be entitled to any payment therefor other than the Servicing Fees.

  • Reduction of Servicing Compensation in Connection with Prepayment Interest Shortfalls In the event that any Mortgage Loan is the subject of a Prepayment Interest Shortfall, the Servicer shall, from amounts in respect of the Servicing Fee for such Distribution Date, deposit into the Collection Account, as a reduction of the Servicing Fee for such Distribution Date, no later than the Servicer Remittance Date immediately preceding such Distribution Date, an amount up to the Prepayment Interest Shortfall; provided that the amount so deposited shall not exceed the Compensating Interest for such Distribution Date. In case of such deposit, the Servicer shall not be entitled to any recovery or reimbursement from the Depositor, the Trustee, the Issuing Entity or the Certificateholders. With respect to any Distribution Date, to the extent that the Prepayment Interest Shortfall exceeds Compensating Interest (such excess, a "Non-Supported Interest Shortfall"), such Non-Supported Interest Shortfall shall reduce the Current Interest with respect to each Class of Certificates, pro rata based upon the amount of interest each such Class would otherwise be entitled to receive on such Distribution Date. Notwithstanding the foregoing, there shall be no reduction of the Servicing Fee in connection with Prepayment Interest Shortfalls related to the Relief Act or bankruptcy proceedings and the Servicer shall not be obligated to pay Compensating Interest with respect to Prepayment Interest Shortfalls related to the Relief Act or bankruptcy proceedings.

  • Primary Servicing Fee; Carryover Servicing Fee The Primary Servicing Fee for each calendar month and any Carryover Servicing Fees payable on any Distribution Date in arrears by the Issuer shall be equal to the amounts determined by reference to the schedule of fees attached hereto as Attachment A. Notwithstanding anything to the contrary contained herein or in any other Basic Document, the Servicer shall be entitled to receive any Carryover Servicing Fee on any Distribution Date only if and to the extent that sufficient funds are available pursuant to Section 2.8(i) of the Administration Agreement.

  • Investment Earnings and Supplemental Servicing Fees The Servicer shall be entitled to receive all Investment Earnings and Supplemental Servicing Fees when and as paid without any obligation to the Owner Trustee, the Indenture Trustee or the Depositor in respect thereof. The Servicer will have no obligation to deposit any such amount in any account established hereunder. To the extent that any such amount shall be held in any account held by the Indenture Trustee or the Owner Trustee, or otherwise established hereunder, such amount will be withdrawn therefrom and paid to the Servicer upon presentation of a certificate signed by a Responsible Officer of the Servicer setting forth, in reasonable detail, the amount of such Investment Earnings or Supplemental Servicing Fees.

  • Servicing Compensation; Payment of Certain Expenses by Servicer The Servicer shall be entitled to receive the Servicing Fee in accordance with Section 3.03 as compensation for its services in connection with servicing the Mortgage Loans. Moreover, additional servicing compensation in the form of late payment charges and certain other receipts not required to be deposited in the Collection Account as specified in Section 3.02 shall be retained by the Servicer. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (including payment of all other fees and expenses not expressly stated hereunder to be for the account of the Securityholders, including, without limitation, the fees and expenses of the Administrator, Owner Trustee, Indenture Trustee and any Custodian) and shall not be entitled to reimbursement therefor except as specifically provided herein.

Time is Money Join Law Insider Premium to draft better contracts faster.