Common use of Servicing Compensation; Payment of Certain Expenses by Servicer Clause in Contracts

Servicing Compensation; Payment of Certain Expenses by Servicer. Subject to Section 5.04, the Servicer shall be entitled to retain the Servicing Fee in accordance with Section 3.02 as compensation for its services in connection with servicing the Mortgage Loans; provided, however, that the Servicer shall not retain or receive a Servicing Fee with respect to accrued interest included as part of the Purchase Price of a Mortgage Loan if such accrued interest was computed at the Net Loan Rate. Moreover, additional servicing compensation in the form of late payment charges, prepayment penalties or other receipts not required to be deposited in the Collection Account, including, without limitation, Foreclosure Profits, and, subject to Section 5.08, investment income on the Accounts (other than the Spread Account) 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 Trust or the Certificateholders) and shall not be entitled to reimbursement therefor except as specifically provided herein.

Servicing Compensation; Payment of Certain Expenses by Servicer. Subject to Section 5.04, the Servicer shall be entitled to retain the Servicing Fee in accordance with Section 3.02 as compensation for its services in connection with servicing the Mortgage Loans; provided, however, that the Servicer shall not retain or receive a Servicing Fee with respect to accrued interest included as part of the Purchase Price of a Mortgage Loan if such accrued interest was computed at the Net Loan Rate. Moreover, additional servicing compensation in the form of late payment charges, prepayment penalties charges or other receipts not required to be deposited in the Collection Account, including, without limitation, Foreclosure Profits, and, subject to Section 5.08, investment income on the Accounts (other than the Spread Account) shall be retained by the Servicer. Any additional servicing compensation in the form of prepayment penalties shall be paid to the Seller. 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 Trust or the Certificateholders) and shall not be entitled to reimbursement therefor except as specifically provided herein.

Servicing Compensation; Payment of Certain Expenses by Servicer. Subject to Section 5.045.02, the Servicer shall be entitled to retain the Servicing Fee in accordance with Section 3.02 as compensation for its services in connection with servicing the Mortgage Loans; provided, howeverprovided however that if on or prior to the Distribution Date in June 2004, that the Servicer shall not retain or receive a only Mortgage Loans outstanding have Net Loan Rates less than 7.00% per annum, the Servicing Fee with respect shall be reduced but not below zero by an amount necessary to accrued interest included as part of the Purchase Price of a pass through 7.00% per annum on such Mortgage Loan if such accrued interest was computed at the Net Loan RateLoans. Moreover, additional servicing compensation in the form of prepayment charges, late payment charges, prepayment penalties charges or other receipts not required to be deposited in the Collection Account, including, without limitation, Foreclosure Profits, Profits and, subject to Section 5.085.05, investment income on the Accounts (other than Collection Account and the Spread Account) Distribution Account shall be additional servicing compensation and 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 Trust or the Certificateholders) and shall not be entitled to reimbursement therefor except as specifically provided herein.

Servicing Compensation; Payment of Certain Expenses by Servicer. Subject to Section 5.043.17, the Servicer shall be entitled to retain the Servicing Fee in accordance with Section 3.02 as compensation for its services in connection with servicing the Mortgage Loans; providedPROVIDED, howeverHOWEVER, that the Servicer shall not retain or receive a Servicing Fee with respect to accrued interest included as part of the Purchase Price of a Mortgage Loan if such accrued interest was computed at the Net Loan Rate. Moreover, additional servicing compensation in the form of late payment charges, prepayment penalties or other receipts not required to be deposited in the Collection Account, including, without limitation, Foreclosure Profits, and, subject to Section 5.083.10 of the Indenture, investment income on the Accounts (other than the Spread Account) 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 Trust or the CertificateholdersNoteholders) and shall not be entitled to reimbursement therefor except as specifically provided herein.