Common use of Servicing Compensation Clause in Contracts

Servicing Compensation. As compensation for its services hereunder, the Servicer shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the Servicer. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges shall be retained by the Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 37 contracts

Samples: Correspondent Servicing Agreement (Structured Asset Securities Corp Mortgage Pass-Through Certificates, Series 2004-22), Correspondent Servicing Agreement (Structured Asset Securities Corp), Correspondent Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2005-21)

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Servicing Compensation. As compensation consideration for its services hereunderservicing the Transferred Mortgage Loans subject to this Agreement, the Special Servicer shall be entitled retain the relevant Servicing Fee for each Transferred Mortgage Loan remaining subject to withdraw from the Custodial Account this Agreement during any month or to retain from interest payments on the Mortgage Loans the amount of its Servicing Feepart thereof. The Such Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the Servicermonthly. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges Ancillary Income shall be retained by the Special Servicer to the extent and is not required to be deposited in the Custodial Account. Prepayment Charges The Servicing Fee is payable solely from, the interest portion (including recoveries with respect to interest from Liquidation Proceeds) of such Monthly Payment collected by the Special Servicer. The aggregate Servicing Fees for any month with respect to the Transferred Mortgage Loans shall be reduced by the property aggregate Prepayment Interest Shortfall Amount for such month. The Special Servicer shall be obligated to pay the aggregate Prepayment Interest Shortfall Amount for any month up to a maximum of the Owner and aggregate Servicing Fees for such month. The Special Servicer shall be deposited entitled to recover any unpaid Servicing Fee to the extent not remitted, out of Insurance Proceeds, Condemnation Proceeds, REO Disposition Proceeds or Liquidation Proceeds to the extent permitted in Section 3.04 and out of amounts derived from the Custodial Account in accordance with operation and sale of an REO Property to the extent permitted by Section 4.223.17. The Special Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 29 contracts

Samples: Servicing Agreement (Lehman Mortgage Trust 2007-10), Servicing Agreement (Lehman Mortgage Trust 2007-3), Servicing Agreement (Lehman Mortgage Trust 2007-2)

Servicing Compensation. As compensation consideration for its services hereunderservicing the Mortgage Loans pursuant to this Agreement, the Servicer shall be entitled to withdraw retain the applicable Servicing Fee from the Custodial Account or to retain from interest payments on the Mortgage Loans or to withdraw the amount of its Servicing Fee. The applicable Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those each Mortgage Loans for which payment is in fact made of Loan from the entire amount of the Monthly PaymentCustodial Account pursuant to Section 2.05 hereof. The obligation of the Owner to pay pay, and the Servicer’s right to withdraw, the Servicing Fee is limited to, and the Servicing Fee is payable solely from, the interest portion (including recoveries with respect to interest from Liquidation Proceeds, to the extent permitted by Section 2.05) of such Monthly Payments Payment collected by the Servicer, or as otherwise provided under Section 2.05. The Servicer shall be entitled to all accrued and unpaid Servicing Fees upon the termination of its servicing of the related Mortgage Loans. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges Ancillary Income shall be retained by the Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 23 contracts

Samples: Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-10xs), Flow Servicing Agreement (GSR Mortgage Loan Trust 2007-1f), Flow Servicing Agreement (GSR 2007-Oa2)

Servicing Compensation. As compensation for its services hereunder, the Servicer Company shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Paymentreceived. The obligation of the Owner Purchaser to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected Payments. Notwithstanding the foregoing, with respect to the payment of the Servicing Fee for any month, the aggregate Servicing Fee shall be reduced (but not below zero) by an amount equal to the ServicerPrepayment Interest Shortfall for such Remittance Date relating to the Mortgage Loans. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges shall be retained by the Servicer Company to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Company shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 19 contracts

Samples: Assignment, Assumption and Recognition Agreement (Thornburg Mortgage Securities Trust 2006-1), Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2007-1f), And Servicing Agreement (GSR Mortgage Loan Trust 2007-3f)

Servicing Compensation. As compensation for its services activities hereunder, the Servicer shall be entitled to retain or withdraw from the Custodial Certificate Account or an amount equal to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on for each Loan, provided that the basis of the same unpaid principal balance and aggregate Servicing Fee for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and Loans with respect to those Mortgage Loans for which payment is in fact made any Distribution Date shall be reduced (i) by an amount equal to the aggregate of the entire Prepayment Interest Shortfalls, if any, with respect to such Distribution Date, up to the full amount of the Monthly Payment. The obligation of the Owner to pay the aggregate Servicing Fee is limited toFee, and payable solely from(ii) with respect to the first Distribution Date, an amount equal to any amount to be deposited into the interest portion of such Monthly Payments collected Certificate Account by the ServicerSellers pursuant to Section 2.01(a) and not so deposited. Additional servicing compensation in the form of Excess Proceeds, Prepayment Interest Excess, prepayment penalties, assumption fees, to the extent provided in Section 6.01, and late payment charges and all income earned on funds on deposit in the Certificate Account, net of any losses realized from any Permitted Investments made with such funds, shall be retained by the Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Certificate Account in accordance with pursuant to Section 4.223.05 hereof. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for hereinin this Agreement.

Appears in 15 contracts

Samples: Pooling and Servicing Agreement (Popular ABS Mortgage Pass-Through Trust 2006-D), Pooling and Servicing Agreement (Popular ABS Mortgage Pass-Through Trust 2006-E), Pooling and Servicing Agreement (Popular ABS Mortgage Pass-Through Trust 2007-A)

Servicing Compensation. As compensation for its services activities hereunder, the Servicer shall be entitled to retain or withdraw from the Custodial Certificate Account or an amount equal to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on for each Loan, provided that the basis of the same unpaid principal balance and aggregate Servicing Fee for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and Loans with respect to those Mortgage Loans for which payment is in fact made any Distribution Date shall be reduced (i) by an amount equal to the aggregate of the entire Prepayment Interest Shortfalls, if any, with respect to such Distribution Date, up to the full amount of the Monthly Payment. The obligation of the Owner to pay the aggregate Servicing Fee is limited toFee, and payable solely from(ii) with respect to the first Distribution Date, an amount equal to any amount to be deposited into the interest portion of such Monthly Payments collected Certificate Account by the ServicerSellers pursuant to Section 2.01(a) and not so deposited. Additional servicing compensation in the form of Excess Proceeds, Prepayment Interest Excess, prepayment penalties, assumption fees, to the extent provided in Section 6.01, and late payment charges and all income and gain net of any losses realized from Permitted Investments made with funds on deposit in the Certificate Account shall be retained by the Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Certificate Account in accordance with pursuant to Section 4.223.05 hereof. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for hereinin this Agreement.

Appears in 14 contracts

Samples: Pooling and Servicing Agreement (Equity One Mortgage Pass-Through Trust 2003-2), Pooling and Servicing Agreement (Equity One Abs Inc Mortgage Pass-Through Certificates Series 2004-3), Pooling and Servicing Agreement (Popular ABS Inc Mortgage Pass-Through Certificates Series 2004-5)

Servicing Compensation. As compensation for its services activities hereunder, the Servicer shall be entitled to retain or withdraw from the Custodial Collection Account or an amount equal to retain from interest payments on the Servicing Fee for each Mortgage Loans Loan, provided that the aggregate Servicing Fee with respect to any Distribution Date shall be reduced (i) by the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on any Compensating Interest paid by the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and Servicer with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited tosuch Distribution Date, and payable solely from(ii) with respect to the first Distribution Date, an amount equal to any amount to be deposited into the interest portion of such Monthly Payments collected Distribution Account by the ServicerDepositor pursuant to Section 2.1(a) and not so deposited. Additional servicing compensation in the form of (i) Prepayment Interest Excess and all income and gain net of any losses realized from Permitted Investments and (ii) assumption fees, late payment charges, and other receipts not required to be deposited to the extent provided in Collection Account pursuant to Section 6.013.5 hereof, and late payment charges including any Excess Proceeds, shall be retained by the Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22as additional servicing compensation. The Servicer and Master Servicer shall be required to pay all expenses incurred by it them respectively in connection with its servicing their respective activities hereunder to the extent such expenses do not constitute Advances or Nonrecoverable Advances as defined in this Agreement and shall not be entitled to reimbursement thereof therefor except as specifically provided for hereinin this Agreement.

Appears in 13 contracts

Samples: Pooling and Servicing Agreement (Saxon Asset Securities Trust 2002-1), Pooling and Servicing Agreement (Saxon Asset Securities Co), Pooling and Servicing Agreement (Saxon Asset Securities Co)

Servicing Compensation. As compensation for its services hereunder, the Servicer Company shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner Purchaser to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the ServicerCompany. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges shall be retained by the Servicer Company to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Company shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein; provided , that the Seller shall not be required to make any Nonrecoverable Advance. In the event that the Seller determines that any advance would be a Nonrecoverable Advance, the Seller shall promptly deliver to the Purchaser notification of such determination, accompanied by an officer’s certificate of the Seller setting forth the reason such advance is determined to be nonrecoverable.

Appears in 12 contracts

Samples: Reconstituted Servicing Agreement (LMT 2006-4), Warranties and Servicing Agreement (Lehman XS Trust Series 2006-14n), Reconstituted Servicing Agreement (LXS 2007-3)

Servicing Compensation. As In addition to any other fees to which Servicer is entitled hereunder, as compensation for its services hereunder, the Servicer shall be entitled to withdraw from a Servicing Fee payable with respect to each Mortgage Loan. As to each Mortgage Loan, the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall (i) be payable monthly from payment of interest on such Mortgage Loan prior to the deposit of such payments into the Custodial Account, (ii) accrue at the applicable Servicing Fee Rate, and shall (iii) be computed on the basis of the same unpaid principal balance amount and for the same period respecting which any related such interest payment on a Mortgage Loan is was computed. The Servicer shall be entitled to recover accrued but unpaid Servicing Fees in respect of any Mortgage Loan to the extent permitted by Section 4.05. The Servicer’s right to the Servicing Fee shall not be payable only at transferred in whole or in part except in connection with the time transfer of and with respect all the Servicer’s obligations under this Agreement. Servicing compensation in addition to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited toFee, and payable solely from, the interest portion of such Monthly Payments collected by the Servicer. Additional servicing compensation in the form of assumption feesfees as provided in Section 7.01, interest paid on funds deposited in the Escrow Account to the extent provided permitted by Section 4.06, default interest in Section 6.01, excess of the Mortgage Interest Rate and late payment charges and other ancillary fees, in each case to the extent collected, shall be retained by the Servicer to the extent and shall not be required to be deposited in into the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for herein.

Appears in 7 contracts

Samples: Master Mortgage Loan Purchase Agreement (Greenwich Capital Acceptance Thornburg Sec Tr 2003-4), Master Servicing Agreement (Sequoia Mortgage Trust 2007-1), Master Servicing Agreement (Sequoia Mortgage Trust 2007-4)

Servicing Compensation. As compensation for its services hereunder, the Servicer shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its provided for as the Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis in respect of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee for a particular month shall be become payable only at upon the time of and with respect to those Mortgage Loans for which payment is in fact made receipt by the Servicer from the Mortgagor of the entire amount of the full Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited to, and payable solely from, the interest portion Payment in respect of such Monthly Payments collected by the ServicerMortgage Loan. Additional servicing compensation in the form of assumption fees, to the extent as provided in Section 6.017.01, and late payment charges and other servicer compensation for modifications, short sales as provided in Section 5.01(e), and other shall be retained by the Servicer to the extent not required to be deposited in the Custodial Collection Account. Prepayment Charges In the event that Liquidation Proceeds, Insurance Proceeds and proceeds from any REO Disposition exceeds the Unpaid Principal Balance of such Mortgage Loan plus unpaid interest accrued thereon at a per annum rate equal to the related Remittance Rate, the Servicer shall be the property of the Owner entitled to retain therefrom and shall pay to itself any Servicing Fee, Monthly Advances and Servicing Advances considered to be deposited in the Custodial Account in accordance with Section 4.22accrued but unpaid. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for herein.

Appears in 7 contracts

Samples: Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2006-7), Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2006-2), Indemnification and Contribution Agreement (Morgan Stanley Mortgage Loan Trust 2007-6xs)

Servicing Compensation. As compensation for its services activities hereunder, the Servicer shall be entitled to retain or withdraw from the Custodial Collection Account or an amount equal to retain from interest payments on the Servicing Fee for each Mortgage Loans Loan, provided that the aggregate Servicing Fee with respect to any Payment Date shall be reduced (i) by the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on any Compensating Interest paid by the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and Servicer with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited tosuch Payment Date, and payable solely from(ii) with respect to the first Payment Date, an amount equal to any amount to be deposited into the interest portion of such Monthly Payments collected Payment Account by the ServicerDepositor pursuant to Section 2.1(a) and not so deposited. Additional servicing compensation in the form of (i) Prepayment Interest Excess and all income and gain net of any losses realized from Permitted Investments and (ii) assumption fees, late payment charges, and other receipts not required to be deposited to the extent provided in Collection Account pursuant to Section 6.013.5, and late payment charges including any Excess Proceeds, shall be retained by the Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22as additional servicing compensation. The Servicer and Master Servicer shall be required to pay all expenses incurred by it them respectively in connection with its servicing their respective activities hereunder to the extent such expenses do not constitute Advances or Nonrecoverable Advances as defined in this Agreement and shall not be entitled to reimbursement thereof therefor except as specifically provided in this Agreement. Notwithstanding anything herein or in any other Operative Agreement to the contrary, in no event shall the Indenture Trustee be liable for the Servicing Fee or for any differential in the amount of the Servicing Fee and the amount necessary to induce any successor Servicer to act as successor Servicer under this Agreement and the transactions set forth or provided for herein.

Appears in 7 contracts

Samples: Sale and Servicing Agreement (Sast 2006-3), Sale and Servicing Agreement (Saxon Asset Securities Trust 2004-3), Sale and Servicing Agreement (Saxon Asset Securities Trust 2005-1)

Servicing Compensation. As compensation for its services hereunder, the Servicer Company shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner Purchaser to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the ServicerCompany. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges shall be retained by the Servicer Company to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Company shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein; provided, that the Seller shall not be required to make any Nonrecoverable Advance. In the event that the Seller determines that any advance would be a Nonrecoverable Advance, the Seller shall promptly deliver to the Purchaser notification of such determination, accompanied by an officer's certificate of the Seller setting forth the reason such advance is determined to be nonrecoverable.

Appears in 6 contracts

Samples: Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Mortgage Pass-Through Certificates, Series 2004-16), Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust), Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust Series 2005-7n)

Servicing Compensation. As compensation for its services hereunder, the Servicer Company shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner Purchaser to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the ServicerCompany. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges shall be retained by the Servicer Company to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Company shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein; provided , that the Seller shall not be required to make any Nonrecoverable Advance. In the event that the Seller determines that any advance would be a Nonrecoverable Advance, the Seller shall promptly deliver to the Purchaser notification of such determination, accompanied by an officer's certificate of the Seller setting forth the reason such advance is determined to be nonrecoverable.

Appears in 5 contracts

Samples: Reconstituted Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Cer Se 2002-2), Reconstituted Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2002-3), Warranties and Servicing Agreement (Structured Asset Sec Corp Mort Pass THR Cert Ser 2003 26a)

Servicing Compensation. As In addition to any other fees to which Servicer is entitled hereunder, as compensation for its services hereunder, the Servicer shall be entitled to withdraw from a Servicing Fee payable with respect to each Mortgage Loan. As to each Mortgage Loan, the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall (i) be payable monthly from payment of interest on such Mortgage Loan prior to the deposit of such payments into the Custodial Account, (ii) accrue at the applicable Servicing Fee Rate, and shall (iii) be computed on the basis of the same unpaid principal balance amount and for the same period respecting which any related such interest payment on a was computed. Servicer shall be entitled to recover accrued but unpaid Servicing Fees in respect of any Mortgage Loan is computedto the extent permitted by Section 4.05. The Servicer’s right to the Servicing Fee shall not be payable only at transferred in whole or in part except in connection with the time transfer of and with respect all Servicer’s obligations under this Agreement. Servicing compensation in addition to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited toFee, and payable solely from, the interest portion of such Monthly Payments collected by the Servicer. Additional servicing compensation in the form of assumption feesfees as provided in Section 7.01, interest paid on funds deposited in the Escrow Account to the extent provided permitted by Section 4.06, default interest in Section 6.01, excess of the Mortgage Interest Rate and late payment charges charges, in each case to the extent collected, shall be retained by the Servicer to the extent and shall not be required to be deposited in into the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for herein.

Appears in 5 contracts

Samples: Master Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-13), Master Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar), Master Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-12)

Servicing Compensation. As compensation for its services hereunder, the Servicer Company shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner Purchaser to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the ServicerCompany. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges and , to the extent provided for in the related Purchase Price and Terms Letter, Prepayment Penalties, shall be retained by the Servicer Company to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Company shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 4 contracts

Samples: Reconstituted Servicing Agreement (Structured Asset Securities Corp 2004-S3), Warranties and Servicing Agreement (Structured Asset Securities Corp Mort Pas THR Cert Se 03 2a), Reconstituted Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Cert Ser 01 16h)

Servicing Compensation. As compensation consideration for its services servicing the Mortgage Loans hereunder, the Servicer Seller shall be entitled withdraw the Servicing Fee with respect to withdraw each Mortgage Loan from the Custodial Account or pursuant to retain from interest payments Section 2.05 hereof. Such Servicing Fee shall be payable monthly, computed on the basis of the number of Mortgage Loans the amount of its Servicing Feesubject to this Agreement. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and pro-rated when servicing is for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Paymentless than one month. The obligation of the Owner Purchaser to pay pay, and the Seller's right to withdraw, the Servicing Fee is limited to, and the Servicing Fee is payable solely from, the interest portion of such Monthly Payments Payment collected by the ServicerSeller, or as otherwise provided under Section 2.05. The Seller recognizes that to the extent it does not recover all accrued but unpaid Servicing Fees under Section 4.03, the Purchaser shall not have any liability with respect to such shortfalls. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges Ancillary Income shall be retained by the Servicer Seller to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Seller shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (BCAP LLC Trust 2008-Ind2), Pooling and Servicing Agreement (BCAP LLC Trust 2008-Ind1), Assignment and Recognition Agreement (BCAP LLC Trust 2007-Aa1)

Servicing Compensation. As compensation consideration for its services hereunderservicing the Mortgage Loans subject to this Agreement, the Servicer shall be entitled retain the relevant Servicing Fee for each Mortgage Loan remaining subject to withdraw from the Custodial Account this Agreement during any month or to retain from interest payments on the Mortgage Loans the amount of its Servicing Feepart thereof. The Such Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the Servicermonthly. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges Ancillary Income shall be retained by the Servicer to the extent and is not required to be deposited in the Custodial Account. Prepayment Charges In the event that the Servicer deposits into the Custodial Account any Ancillary Income, the Servicer may withdraw such amount at any time from the Custodial Account, any provision herein to the contrary notwithstanding. The Servicing Fee is payable solely from the interest portion (including recoveries with respect to interest from Liquidation Proceeds) of such Monthly Payment collected by the Servicer. The aggregate Servicing Fee for any month with respect to the Mortgage Loans shall be reduced by the property of the Owner and aggregate Prepayment Interest Shortfall Amount for such month. The Servicer shall be deposited entitled to recover any unpaid Servicing Fees out of Insurance Proceeds, Condemnation Proceeds, REO Disposition Proceeds or Liquidation Proceeds or from other funds on deposit in the Custodial Account to the extent permitted in accordance with Section 4.22. 3.04 and out of amounts derived from the operations and sale of REO Property to the extent permitted by Section 3.16 The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 4 contracts

Samples: Securitization Servicing Agreement (Structured Asset Investment Loan Trust Series 2004-11), Securitization Servicing Agreement (Amortizing Residential Collateral Trust, Series 2004-1), Securitization Servicing Agreement (Structured Asset Investment Loan Trust 2004-8)

Servicing Compensation. As compensation for its services hereunder, the Servicer Company shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid outstanding principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computedbalance. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner Purchaser to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the ServicerCompany. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, fees and late payment charges Ancillary Income shall be retained by the Servicer Company to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Company shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein. Prepayment Penalties shall be the property of the Purchaser and may not be retained by the Company as additional servicing compensation.

Appears in 4 contracts

Samples: Warranties and Servicing Agreement (J.P. Morgan Mortgage Trust 2006-S1), Warranties and Servicing Agreement (JPMMT 2007-A6), Warranties and Servicing Agreement (Sunset Financial Resources Inc)

Servicing Compensation. As compensation for its services hereunder, the Servicer Company shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner Purchaser to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the ServicerCompany. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges shall be retained by the Servicer Company to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Company shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein; provided , that the Seller shall not be required to make any Nonrecoverable Advance. In the event that the Seller determines that any advance would be a Nonrecoverable Advance, the Seller shall promptly deliver to the Purchaser notification of such determination, accompanied by an officer's certificate of the Seller setting forth the reason such advance is determined to be nonrecoverable.

Appears in 4 contracts

Samples: Warranties and Servicing Agreement (Lehman XS Trust Series 2005-5n), Warranties and Servicing Agreement (Structured Asset Sec Corp Mort Passthr Certs Ser 2003 40a), Warranties and Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)

Servicing Compensation. As compensation for its services hereunder, the Servicer shall shall, subject to Section 11.04(xi), be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its amounts provided for as the Servicer’s Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the Servicer. Additional servicing compensation in the form of assumption fees, to the extent as provided in Section 6.0111.19, and late payment charges or otherwise shall be retained by the Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for. The Servicer shall also be entitled on each Distribution Date to the aggregate of any Prepayment Interest Excess collected in the related Due Period, which Prepayment Interest Excess the Servicer may withdraw from the Custodial Account pursuant to Section 4.05; provided, however, any such Prepayment Interest Excess to which the Servicer is entitled shall be reduced by the amount by which the aggregate Prepayment Interest Shortfalls for hereinsuch Prepayment Period exceed the Servicer’s aggregate Servicing Fee received with respect to the related Due Period.

Appears in 3 contracts

Samples: Master Loan Purchase and Servicing Agreement (MASTR Alternative Loan Trust 2006-3), Master Loan Purchase and Servicing Agreement (MASTR Alternative Loan Trust 2006-2), Master Loan Purchase and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-1)

Servicing Compensation. As compensation for its services hereunder, the Servicer Company shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid scheduled principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner Purchaser to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected or as otherwise provided in Section 4.05. Notwithstanding the foregoing, with respect to the payment of the Servicing Fee for any month, the aggregate Servicing Fee shall be reduced (but not below zero) by an amount equal to the ServicerPrepayment Interest Shortfall for the related Due Period. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges and other ancillary income (excluding Prepayment Premiums except to the extent otherwise provided in the related Purchase Price and Terms Letter) shall be retained by the Servicer Company to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Company shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 3 contracts

Samples: Sale and Servicing Agreement (Luminent Mortgage Trust 2006-6), Flow Sale and Servicing Agreement (Luminent Mortgage Trust 2006-7), Sale and Servicing Agreement (Luminent Mortgage Trust 2007-1)

Servicing Compensation. As compensation consideration for its services servicing the Mortgage Loans hereunder, the Servicer Seller shall be entitled withdraw the Servicing Fee with respect to withdraw each Mortgage Loan from the Custodial Account or pursuant to retain from interest payments on the Mortgage Loans the amount of its Servicing FeeSection 2.05 hereof. The Such Servicing Fee shall be payable monthly and shall be monthly, computed on the basis of the same unpaid principal balance amount and for the period respecting in respect of which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans pro-rated when servicing is for which payment is in fact made of the entire amount of the Monthly Paymentless than one month. The obligation of the Owner Purchaser to pay pay, and the Seller's right to withdraw, the Servicing Fee is limited to, and the Servicing Fee is payable solely from, the interest portion (including recoveries with respect to interest from Liquidation Proceeds, to the extent permitted by Section 2.05), of such Monthly Payments Payment collected by the ServicerSeller, or as otherwise provided under Section 2.05. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges Ancillary Income shall be retained by the Servicer to the extent Seller and shall not be required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Seller shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 3 contracts

Samples: Commercial Servicing Agreement (Peoples Preferred Capital Corp), Residential Servicing Agreement (Peoples Preferred Capital Corp), Commercial Servicing Agreement (Peoples Preferred Capital Corp)

Servicing Compensation. As compensation for its services hereunder, the Servicer Seller shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner Purchaser to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the ServicerSeller. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.014.01, and late payment charges shall be retained by the Servicer Seller to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Seller shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 3 contracts

Samples: Flow Interim Servicing Agreement (Sturctured Asset Securities Corp Mort Pass Thru Ser 2004-1), Reconstituted Servicing Agreement (Structured Asset Sec Corp Mort Pas THR Certs Ser 2001 19), Flow Interim Servicing Agreement (Structured Adjustable Rate Mortgage Loan Trust)

Servicing Compensation. As compensation for its services hereunder, the Servicer shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its amounts provided for as the Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis in respect of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee for a particular month shall be become payable only at upon the time of and with respect to those Mortgage Loans for which payment is in fact made receipt by the Servicer from the Mortgagor of the entire amount of the full Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited to, and payable solely from, the interest portion Payment in respect of such Monthly Payments collected by the ServicerMortgage Loan. Additional servicing compensation in the form of assumption fees, to the extent as provided in Section 6.017.01, and late payment charges and other servicer compensation for modifications, short sales as provided in Section 5.01(e), and other shall be retained by the Servicer to the extent not required to be deposited in the Custodial Collection Account. Prepayment Charges In the event that Liquidation Proceeds, Insurance Proceeds and proceeds from any REO Disposition exceeds the Unpaid Principal Balance of such Mortgage Loan plus unpaid interest accrued thereon at a per annum rate equal to the related Remittance Rate, the Servicer shall be the property of the Owner entitled to retain therefrom and shall pay to itself any Foreclosure Profits and any Servicing Fee considered to be deposited in the Custodial Account in accordance with Section 4.22accrued but unpaid. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for herein.

Appears in 3 contracts

Samples: Servicing Agreement (Citigroup Mortgage Loan Trust 2006-4), Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Ar1), Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Ar5)

Servicing Compensation. As compensation consideration for its services hereunderservicing the Mortgage Loans during the period from each Closing Date up to but not including the related Transfer Date, the Interim Servicer shall be entitled withdraw the Servicing Fee with respect to withdraw each Mortgage Loan from the Custodial Account pursuant to Section 2.05 hereof or to may retain such amounts from interest payments deposits therein. Such Servicing Fee shall be payable monthly on the Mortgage Loans the amount of its Servicing Feesubject to this Agreement. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and pro-rated when servicing is for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Paymentless than one month. The obligation of the Owner Purchaser to pay pay, and the Interim Servicer's right to withdraw, the Servicing Fee is limited to, and the Servicing Fee is payable solely from, the interest portion of such Monthly Payments Payment collected by the Interim Servicer, or as otherwise provided under Section 2.05. The Interim Servicer recognizes that to the extent it does not recover all accrued but unpaid Servicing Fees under Section 4.03, the Purchaser shall not have any liability with respect to such shortfalls other then to require payment of such fees by any successor servicer following a servicing transfer. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.014.01, and late payment charges shall be retained by the Interim Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Interim Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Sabr Trust 2005-Fr3), Indemnification and Contribution Agreement (Sabr Trust 2005-Fr2)

Servicing Compensation. As compensation for its services hereunder, the Servicer Seller shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its amounts provided for as the Seller's Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the Servicer. Additional servicing compensation in the form of assumption fees, to the extent as provided in Section 6.01Subsection 11.19, and late payment charges or otherwise shall be retained by the Servicer Seller to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Seller shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for. Upon the transfer of the servicing of the Mortgage Loans at the end of the Interim Servicing Period, the successor servicer shall reimburse the Seller for hereinamounts the Seller actually expended as servicer pursuant to this Agreement which the successor is entitled to retain hereunder, including any Servicing Advances, Monthly Advances and any unpaid Servicing Fees, and which would otherwise have been recovered by the Seller pursuant to this Agreement but for the appointment of the successor servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2004-4), Pooling and Servicing Agreement (Fremont Home Loan Trust 2005-1)

Servicing Compensation. As compensation for its services hereunder, the Servicer Company shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner Purchaser to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the ServicerCompany. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges shall be retained by the Servicer Company to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Company shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein; provided , that the Seller shall not be required to make any Nonrecoverable Advance. In the event that the Seller determines that any advance would be a Nonrecoverable Advance, the Seller shall promptly deliver to the Purchaser notification of such determination, accompanied by an officer’s certificate of the Seller setting forth the reason such advance is determined to be nonrecoverable.

Appears in 2 contracts

Samples: Reconstituted Servicing Agreement (Structured Asset Securities Corp Mor Pas THR Ce Se 2003-12xs), Warranties and Servicing Agreement (Lehman XS Trust Series 2006-12n)

Servicing Compensation. As compensation consideration for its services hereunderservicing the Mortgage Loans pursuant to this Agreement, the Servicer shall be entitled to withdraw retain the applicable Servicing Fee from the Custodial Account or to retain from interest payments on the Mortgage Loans or to withdraw the amount of its Servicing Fee. The applicable Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those each Mortgage Loans for which payment is in fact made of Loan from the entire amount of the Monthly PaymentCustodial Account pursuant to Section 2.05 hereof. The obligation of the Owner to pay pay, and the Servicer's right to withdraw, the Servicing Fee is limited to, and the Servicing Fee is payable solely from, the interest portion (including recoveries with respect to interest from Liquidation Proceeds, to the extent permitted by Section 2.05) of such Monthly Payments Payment collected by the Servicer, or as otherwise provided under Section 2.05. The Servicer shall be entitled to all accrued and unpaid Servicing Fees upon the termination of its servicing of the related Mortgage Loans. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges Ancillary Income shall be retained by the Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 2 contracts

Samples: Flow Servicing Agreement (GSAA Home Equity Trust 2006-4), Flow Servicing Agreement (GSAA Home Equity Trust 2006-3)

Servicing Compensation. As full compensation for its services hereunderservicing activities hereunder and reimbursement for its expenses as set forth in the immediately following paragraph, the Servicer shall be entitled to withdraw from receive the Custodial Account Servicing Fee on each Distribution Date on or prior to retain from interest payments on the Mortgage Loans the amount of its Trust Termination Date payable in arrears. The "Servicing Fee" shall be the aggregate of the Monthly Servicing Fees specified in the Supplements. The Servicing Fee shall be payable monthly and shall be computed on to the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited to, and payable Servicer solely from, the interest portion of such Monthly Payments collected by the Servicer. Additional servicing compensation in the form of assumption fees, to the extent provided amounts are available for payment in accordance with the terms of the Supplements. The Servicer's expenses include the amounts due to the Trustee pursuant to Section 6.01, 11.05 and late payment charges shall be retained the reasonable fees and disbursements of independent accountants and all other expenses incurred by the Servicer to in connection with its activities hereunder, and including all other fees and expenses of the extent Trust not required expressly stated herein to be deposited in for the Custodial Account. Prepayment Charges shall be the property account of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22Certificateholders. The Servicer shall be required to pay all such expenses incurred by it in connection with for its servicing activities hereunder own account, and shall not be entitled to reimbursement thereof except as specifically provided any payment therefor other than the Servicing Fee. The Servicer will be solely responsible for hereinall fees and expenses incurred by or on behalf of the Servicer in connection herewith and the Servicer will not be entitled to any fee or other payment from, or claim on, any of the Trust Assets (other than the Servicing Fee).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Daimlerchrysler Wholesale Receivables LLC), Pooling and Servicing Agreement (Daimlerchrysler Wholesale Receivables LLC)

Servicing Compensation. As In addition to any other fees to which Servicer is entitled hereunder, as compensation for its services hereunder, the Servicer shall be entitled to withdraw from a Servicing Fee payable with respect to each Mortgage Loan. As to each Mortgage Loan, the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall (i) be payable monthly from payment of interest on such Mortgage Loan prior to the deposit of such payments into the Custodial Account, (ii) accrue at the applicable Servicing Fee Rate, and shall (iii) be computed on the basis of the same unpaid principal balance amount and for the same period respecting which any related such interest payment on a was computed. Servicer shall be entitled to recover accrued but unpaid Servicing Fees in respect of any Mortgage Loan is computedto the extent permitted by Section 4.05. The Servicer's right to the Servicing Fee shall not be payable only at transferred in whole or in part except in connection with the time transfer of and with respect all Servicer's obligations under this Agreement. Servicing compensation in addition to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited toFee, and payable solely from, the interest portion of such Monthly Payments collected by the Servicer. Additional servicing compensation in the form of assumption feesfees as provided in Section 7.01, interest paid on funds deposited in the Escrow Account to the extent provided permitted by Section 4.06, default interest in Section 6.01, excess of the Mortgage Interest Rate and late payment charges charges, in each case to the extent collected, shall be retained by the Servicer to the extent and shall not be required to be deposited in into the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for herein.

Appears in 2 contracts

Samples: Master Servicing Agreement (Sunset Financial Resources Inc), Master Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-11)

Servicing Compensation. As compensation consideration for its services hereunderservicing the Mortgage Loans subject to this Agreement, the Servicer shall be entitled retain the relevant Servicing Fee for each Mortgage Loan remaining subject to withdraw from the Custodial Account this Agreement during any month or to retain from interest payments on the Mortgage Loans the amount of its Servicing Feepart thereof. The Such Servicing Fee shall be payable monthly monthly. Additional servicing compensation in the form of Prepayment Penalties, assumption fees as provided in Section 5.01, and late payment charges or otherwise shall be computed on retained by the basis of Servicer and is not required to be deposited in the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly PaymentCustodial Account. The obligation of the Owner Seller to pay the Servicing Fee is limited to, and the Servicing Fee is payable solely from, the interest portion (including recoveries with respect to interest from Liquidation Proceeds) of such Monthly Payments Payment collected by the Servicer. Additional servicing compensation in The aggregate Servicing Fees for any month with respect to the form of assumption feesMortgage Loans shall be reduced by the aggregate Prepayment Interest Shortfall Amount for such month. The Servicer shall be entitled to recover any unpaid Servicing Fee, to the extent provided in Section 6.01not remitted, and late payment charges shall be retained by the Servicer to the extent not required to be deposited out of Insurance Proceeds, Condemnation Proceeds, REO Disposition Proceeds or Liquidation Proceeds or other amounts on deposit in the Custodial Account. Prepayment Charges shall be , to the property extent permitted in Section 3.04 and out of amounts derived from the Owner operation and shall be deposited in sale of an REO Property to the Custodial Account in accordance with extent permitted by Section 4.223.17. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 2 contracts

Samples: Securitization Servicing Agreement (TBW 2006-3), Securitization Servicing Agreement (TBW 2006-2)

Servicing Compensation. As full compensation for its services hereunderservicing activities hereunder and reimbursement for its expenses as set forth in the immediately following paragraph, the Servicer shall be entitled to withdraw from receive the Custodial Account Servicing Fee on each Payment Date on or prior to retain from interest payments on the Mortgage Loans the amount of its Trust Termination Date payable in arrears. The "Servicing Fee" shall be the aggregate of the Monthly Servicing Fees specified in the Indenture Supplements. The Servicing Fee shall be payable monthly and shall be computed on to the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited to, and payable Servicer solely from, the interest portion of such Monthly Payments collected by the Servicer. Additional servicing compensation in the form of assumption fees, to the extent provided amounts are available for payment in Section 6.01, accordance with the terms of the Indenture Supplements. The Servicer's expenses include the amounts due to the Indenture Trustee and late payment charges shall be retained the reasonable fees and disbursements of independent accountants and all other expenses incurred by the Servicer to in connection with its activities hereunder, and including all other fees and expenses of the extent Issuer not required expressly stated herein to be deposited in for the Custodial Account. Prepayment Charges shall be the property account of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22Noteholders. The Servicer shall be required to pay all such expenses incurred by it in connection with for its servicing activities hereunder own account, and shall not be entitled to reimbursement thereof except as specifically provided any payment therefor other than the Servicing Fee. The Servicer will be solely responsible for hereinall fees and expenses incurred by or on behalf of the Servicer in connection herewith and the Servicer will not be entitled to any fee or other payment from, or claim on, any of the Trust Assets (other than the Servicing Fee).

Appears in 2 contracts

Samples: Transfer and Servicing Agreement (CNH Wholesale Receivables Inc), Transfer and Servicing Agreement (CNH Wholesale Receivables Inc)

Servicing Compensation. As compensation for its services activities hereunder, the Servicer shall be entitled to retain or withdraw from the Custodial Account or out of each payment of interest on each Mortgage Loan included in the Trust Fund an amount equal to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The In addition, the Servicer shall be entitled to recover unpaid Servicing Fees out of Liquidation Proceeds, Insurance Proceeds or condemnation proceeds to the extent permitted by Section 4.02. In connection with the servicing of any Special Serviced Mortgage Loan, the Special Servicer shall receive the Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a such Special Serviced Mortgage Loan is computed. The as its compensation and the Servicer shall no longer be entitled to the Servicing Fee shall be payable only at the time of and with respect to those such Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the ServicerLoan. Additional servicing compensation with respect to Mortgage Loans in the form of any Excess Liquidation Proceeds, assumption fees, late payment charges, insufficient funds charges and ancillary income to the extent provided such fees or charges are received by the Servicer, all income and gain net of any losses realized from Permitted Investments with respect to funds in Section 6.01, and late payment charges or credited to the Custodial Account shall be retained by the Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with pursuant to Section 4.224.02. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including payment of any premiums for hazard insurance, as required by Section 3.05 and maintenance of the other forms of insurance coverage required by Section 3.07) and shall not be entitled to reimbursement thereof therefor except as specifically provided for hereinin Section 4.02.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corp), Pooling and Servicing Agreement (Nomura Asset Acceptance Corp)

Servicing Compensation. As compensation for its services hereunder, the Servicer shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its amounts provided for as the Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis in respect of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee for a particular month shall be become payable only at upon the time of and with respect to those Mortgage Loans for which payment is in fact made receipt by the Servicer from the Mortgagor of the entire amount of the full Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited to, and payable solely from, the interest portion Payment in respect of such Monthly Payments collected by the ServicerMortgage Loan. Additional servicing compensation in the form of assumption fees, to the extent as provided in Section 6.017.01, late payment charges, Prepayment Penalties and other servicer compensation for modifications, short sales as provided in Section 5.01(e), and late payment charges other shall be retained by the Servicer to the extent not required to be deposited in the Custodial Collection Account. Prepayment Charges In the event that Liquidation Proceeds, Insurance Proceeds and proceeds from any REO Disposition exceeds the Unpaid Principal Balance of such Mortgage Loan plus unpaid interest accrued thereon at a per annum rate equal to the related Remittance Rate, the Servicer shall be the property of the Owner entitled to retain therefrom and shall pay to itself any Foreclosure Profits and any Servicing Fee considered to be deposited in the Custodial Account in accordance with Section 4.22accrued but unpaid. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for herein.

Appears in 2 contracts

Samples: Reconstituted Servicing Agreement (Lehman Mortgage Trust 2007-5), Servicing Agreement (PHH Mortgage Trust, Series 2008-Cim1)

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Servicing Compensation. As compensation for its services hereunder, the Servicer shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid scheduled principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner Trustee to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Scheduled Monthly Payments collected Payments. Notwithstanding the foregoing, with respect to the payment of the Servicing Fee for any month, the aggregate Servicing Fee shall be reduced (but not below zero) by an amount equal to the ServicerCompensating Interest Payment for the related Prepayment Period. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.015.1, and late payment charges and other ancillary income (other than Prepayment Premiums) shall be retained by the Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (FBR Securitization, Inc.)

Servicing Compensation. As compensation for its services hereunder, the Servicer shall Seller shall, subject to Section 11.04(xi), be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its amounts provided for as the Seller’s Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the Servicer. Additional servicing compensation in the form of assumption fees, to the extent as provided in Section 6.0111.19, and late payment charges or otherwise shall be retained by the Servicer Seller to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Seller shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for. The Servicer shall also be entitled on each Distribution Date to the aggregate of any Prepayment Interest Excess collected in the related Due Period, which Prepayment Interest Excess the Servicer may withdraw from the Custodial Account pursuant to Section 11.05; provided, however, any such Prepayment Interest Excess to which the Servicer is entitled shall be reduced by the amount by which the aggregate Prepayment Interest Shortfalls for hereinsuch Prepayment Period exceed the Servicer’s aggregate Servicing Fee received with respect to the related Due Period.

Appears in 1 contract

Samples: Mortgage Loan Purchase and Servicing Agreement (TBW Mortgage-Backed Trust Series 2006-6)

Servicing Compensation. As compensation for its services hereunder, the Servicer Subservicer shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Subservicing Fee to the extent deposited on the Servicing FeeRemittance Date. The Servicing Subservicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid scheduled principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner Trust to pay the Servicing Subservicing Fee is limited to, and payable solely from, the interest portion of such Scheduled Monthly Payments collected Payments. Notwithstanding the foregoing, with respect to the payment of the Subservicing Fee for any month, the aggregate Subservicing Fee shall be reduced (but not below zero) by an amount equal to the ServicerCompensating Interest Payment for the related Payment Date. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.015.1, and late payment charges and other ancillary income (other than Prepayment Premiums) shall be retained by the Servicer Subservicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Subservicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (FBR Securitization, Inc.)

Servicing Compensation. As compensation for its services hereunder, the Servicer Company shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly PaymentPayment (except for any de minimus amount which shall not exceed $15.00 which is advanced by the Company, except as provided in Section 11.02 herein). The obligation of the Owner Purchaser to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the ServicerCompany. For defaulted Mortgage Loans, the Company shall be entitled to the Servicing Fee from Liquidation Proceeds in respect to such Mortgage Loan. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges and other ancillary fees shall be retained by the Servicer Company to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Company shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 1 contract

Samples: Structured Asset Securities Corp/Ny

Servicing Compensation. As compensation for its services hereunder, the Servicer shall be entitled to withdraw receive from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay Collection Account, the Servicing Fee is limited to, and out of which the Servicer shall pay any servicing fees owed or payable solely from, the interest portion of such Monthly Payments collected by the Servicerto any Subservicer. Additional servicing compensation in the form of assumption fees, modification fees, and other administrative fees, insufficient funds charges, amounts remitted pursuant to the extent provided in Section 6.01, 7.01 and late payment charges ------------ shall be retained part of the Servicing Compensation payable to the Servicer hereunder and shall be paid either by the Servicer retaining such additional servicing compensation prior to the extent not required to be deposited deposit in the Custodial Account. Prepayment Charges shall be Collection Account pursuant to Section 5.01(b)(1) or if deposited into the property Collection Account as part of the Owner and shall be deposited in ------------------ Servicing Compensation withdrawn from the Custodial Note Distribution Account in accordance with pursuant to Section 4.225.01(c)(1) hereof. ------------------ The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for herein. The Transferor also agrees to pay (i) all reasonable costs and expenses incurred by any successor servicer or the Indenture Trustee in replacing the Servicer in the event of a default by the Servicer in the performance of its duties under the terms and conditions of this Agreement, and (ii) the annual Rating Agency monitoring fees.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Financial Asset Securities Corp)

Servicing Compensation. As compensation for its services hereunder, the Servicer shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its provided for as the Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis in respect of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee for a particular month shall be become payable only at upon the time of and with respect to those Mortgage Loans for which payment is in fact made receipt by the Servicer from the Mortgagor of the entire amount of the full Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited to, and payable solely from, the interest portion Payment in respect of such Monthly Payments collected by the ServicerMortgage Loan. Additional servicing compensation in the form of assumption fees, to the extent as provided in Section 6.017.01, and late payment charges and other servicer compensation for modifications, short sales as provided in Section 5.01(e), and other shall be retained by the Servicer to the extent not required to be deposited in the Custodial Collection Account. Prepayment Charges In the event that Liquidation Proceeds, Insurance Proceeds and proceeds from any REO Disposition exceeds the unpaid principal balance of such Mortgage Loan plus unpaid interest accrued thereon at a per annum rate equal to the related Remittance Rate, the Servicer shall be the property of the Owner entitled to retain therefrom and shall pay to itself any Servicing Fee, Monthly Advances and Servicing Advances considered to be deposited in the Custodial Account in accordance with Section 4.22accrued but unpaid. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for herein.

Appears in 1 contract

Samples: Servicing Agreement (Sunset Financial Resources Inc)

Servicing Compensation. As compensation for its services hereunder, the Interim Servicer shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be pro rated for any portion of a month during which the Mortgage Loan is serviced pursuant to this Agreement. In addition, the Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner Purchaser to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the Interim Servicer. The Interim Servicer recognizes that to the extent it does not recover all accrued but unpaid Servicing Fees under Section 4.03, the Purchaser shall not have any liability with respect to such shortfalls. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, fees and late payment charges Ancillary Income shall be retained by the Interim Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Interim Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 1 contract

Samples: Interim Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2006-6ar)

Servicing Compensation. As compensation for its services hereunder, the Servicer shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Servicing Fee; provided, however, that in connection with any Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of sold by the Owner to pay Fxxxxx Mxx, the Servicer may deduct its Servicing Fee is limited to, and payable solely from, from amounts due the interest portion of such Monthly Payments collected by the ServicerOwner pursuant to Section 5.01. Additional servicing compensation in the form of assumption fees, to the extent as provided in Section 6.01, and late payment charges and other ancillary fees (excluding any prepayment penalties) shall be retained by the Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for. The Servicer shall pay on behalf of the Owner any and all guarantee fees due in connection with Mortgage Loans sold by the Owner to Fxxxxx Mae. The amount of such guarantee fees shall be deducted by the Servicer from the amounts due the Owner pursuant to Section 5.01; provided that if the guarantee fees exceed such amount, the Servicer shall provide the Owner with an original invoice for hereinthe amount of any such excess, and the Owner shall pay such invoice by wire transfer to the account designated by the Servicer within 45 days of receipt of such invoice.

Appears in 1 contract

Samples: Recognition Agreement (Bear Stearns ALT-A Trust 2006-1)

Servicing Compensation. As compensation for its services hereunder, the Servicer Company shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Paymentreceived. The obligation of the Owner Purchaser to pay the Servicing Fee is limited to, and payable solely from, the interest portion (including recoveries with respect to interest from Liquidation Proceeds, to the extent permitted by Section 4.05) of such Monthly Payments collected Payments. Notwithstanding the foregoing, with respect to the payment of the Servicing Fee for any month, the aggregate Servicing Fee shall be reduced (but not below zero) by an amount equal to the ServicerPrepayment Interest Shortfall for such Remittance Date relating to the Mortgage Loans. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges shall be retained by the Servicer Company to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Company shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc., Home Equity Loan Trust, Series 2006-Af1)

Servicing Compensation. As compensation for its services hereunder, the Servicer shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its amounts provided for as the Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis in respect of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee for a particular month shall be become payable only at upon the time of and with respect to those Mortgage Loans for which payment is in fact made receipt by the Servicer from the Mortgagor of the entire amount of the full Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited to, and payable solely from, the interest portion Payment in respect of such Monthly Payments collected by the ServicerMortgage Loan. Additional servicing compensation in the form of assumption fees, to the extent as provided in Section 6.01, and late payment charges charges, prepayment penalties and other servicer compensation for modifications, short sales as provided in Section 4.01(e), and other shall be retained by the Servicer to the extent not required to be deposited in the Custodial Collection Account. Prepayment Charges In the event that Liquidation Proceeds, Insurance Proceeds and proceeds from any REO Disposition exceed the Unpaid Principal Balance of such Mortgage Loan plus unpaid interest accrued thereon at a per annum rate equal to the related Remittance Rate, the Servicer shall be the property of the Owner entitled to retain therefrom and shall pay to itself any Foreclosure Profits and any Servicing Fee considered to be deposited in the Custodial Account in accordance with Section 4.22accrued but unpaid. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for herein.

Appears in 1 contract

Samples: Mortgage Loan Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2005-A9)

Servicing Compensation. As compensation for its services hereunder, the Servicer Company shall be entitled to withdraw from a Servicing Fee payable with respect to each Mortgage Loan. As to each Mortgage Loan, the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly from payments of interest (to the extent received) on such Mortgage Loan prior to the deposit of such payments into the Custodial Account, shall accrue at the applicable Servicing Fee Rate, and shall be computed on the basis of the same unpaid principal balance amount and for the same period respecting which any related such interest payment on a Mortgage Loan is was computed. The Company shall be entitled to recover accrued but unpaid Servicing Fees in respect of any Mortgage Loan to the extent permitted by Section 4.05. The Company's right to the Servicing Fee shall not be payable only at transferred in whole or in part except in connection with the time transfer of and with respect all the Company's obligations under this Agreement. Servicing compensation in addition to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited toFee, and payable solely from, the interest portion of such Monthly Payments collected by the Servicer. Additional servicing compensation in the form of assumption fees, to the extent fees as provided in Section 6.01, default interest in excess of the Mortgage Interest Rate and late payment charges charges, in each case to the extent collected, shall be retained by the Servicer to the extent Company and shall not be required to be deposited in into the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Company shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for herein.

Appears in 1 contract

Samples: Assumption and Recognition Agreement (Greenwich Capital Acceptance Inc)

Servicing Compensation. As compensation for its services hereunder, the Servicer shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid scheduled principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner Purchaser to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected Payments. Notwithstanding the foregoing, with respect to the payment of the Servicing Fee for any month, the aggregate Servicing Fee shall be reduced (but not below zero) by an amount equal to the ServicerPrepayment Interest Shortfall for the related Principal Prepayment Period. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01, and late payment charges and other ancillary income (other than Prepayment Premiums) shall be retained by the Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 1 contract

Samples: Master Bulk Sale and Servicing Agreement (Banc of America Funding Corp)

Servicing Compensation. As compensation for its services hereunder, the Servicer shall Seller shall, subject to Section 11.04(xi), be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its amounts provided for as the Seller’s Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the Servicer. Additional servicing compensation in the form of assumption fees, to the extent as provided in Section 6.0111.19, and late payment charges or otherwise shall be retained by the Servicer Seller to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Seller shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for. The Servicer shall also be entitled on each Distribution Date to the aggregate of any Prepayment Interest Excess collected in the related Due Period, which Prepayment Interest Excess the Servicer may withdraw from the Custodial Account pursuant to Section 4.05; provided, however, any such Prepayment Interest Excess to which the Servicer is entitled shall be reduced by the amount by which the aggregate Prepayment Interest Shortfalls for hereinsuch Prepayment Period exceed the Servicer’s aggregate Servicing Fee received with respect to the related Due Period.

Appears in 1 contract

Samples: Master Loan Purchase and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2006-2)

Servicing Compensation. As compensation for its services hereunder, the Servicer shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Subservicing Fee to the extent deposited on the Servicing FeeRemittance Date. The Servicing Subservicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid scheduled principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner Trust to pay the Servicing Subservicing Fee is limited to, and payable solely from, the interest portion of such Scheduled Monthly Payments collected Payments. Notwithstanding the foregoing, with respect to the payment of the Subservicing Fee for any month, the aggregate Subservicing Fee shall be reduced (but not below zero) by an amount equal to the ServicerCompensating Interest Payment for the related Payment Date. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.015.1, and late payment charges and other ancillary income (other than Prepayment Premiums) shall be retained by the Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (First NLC Securitization, Inc.)

Servicing Compensation. As compensation for its services hereunder, the Servicer shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing FeeFee [This is not reflected in 4.6]. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid scheduled principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner Trustee to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Scheduled Monthly Payments collected Payments. Notwithstanding the foregoing, with respect to the payment of the Servicing Fee for any month, the aggregate Servicing Fee shall be reduced (but not below zero) by an amount equal to the ServicerCompensating Interest Payment for the related Prepayment Period. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.015.1, and late payment charges and other ancillary income (other than Prepayment Premiums) shall be retained by the Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First NLC Securitization, Inc.)

Servicing Compensation. As compensation for its services hereunder, the Servicer shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid scheduled principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner Master Servicer to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Scheduled Monthly Payments collected Payments. Notwithstanding the foregoing, with respect to the payment of the Servicing Fee for any month, the aggregate Servicing Fee shall be reduced (but not below zero) by an amount equal to the ServicerCompensating Interest Payment for the related Prepayment Period. Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.015.1, and late payment charges and other ancillary income (other than Prepayment Premiums) shall be retained by the Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (FBR Securitization, Inc.)

Servicing Compensation. As compensation for its services hereunder, the Servicer shall Seller shall, subject to Section 11.04(xi), be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans the amount of its amounts provided for as the Seller's Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the Servicer. Additional servicing compensation in the form of assumption fees, to the extent as provided in Section 6.0111.19, and late payment charges or otherwise shall be retained by the Servicer Seller to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer Seller shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for. The Servicer shall also be entitled on each Distribution Date to the aggregate of any Prepayment Interest Excess collected in the related Due Period, which Prepayment Interest Excess the Servicer may withdraw from the Custodial Account pursuant to Section 11.05; provided, however, any such Prepayment Interest Excess to which the Servicer is entitled shall be reduced by the amount by which the aggregate Prepayment Interest Shortfalls for hereinsuch Prepayment Period exceed the Servicer's aggregate Servicing Fee received with respect to the related Due Period.

Appears in 1 contract

Samples: Mortgage Loan Purchase and Servicing Agreement (TBW Mortgage-Backed Trust Series 2007-1)

Servicing Compensation. As compensation for its services hereunder, the Servicer shall be entitled to withdraw receive from the Custodial Collection Account or to retain from interest payments on the Mortgage Loans the amount of its Servicing Fee. The Servicing Fee , out of which the Servicer shall be pay any servicing fees owed or payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting which to any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the ServicerSubservicer. Additional servicing compensation in the form of assumption fees, modification fees, and other administrative fees, insufficient funds charges, amounts remitted pursuant to the extent provided in Section 6.01, 7.01 hereof and late payment charges shall be retained by part of the Servicing Compensation payable to the Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner hereunder and shall be paid either by the Servicer's retaining such additional servicing compensation prior to deposit into the Collection Account pursuant to Section 5.01(b)(1) hereof or, if deposited in into the Custodial Collection Account, as part of the Servicing Compensation withdrawn from the Note Distribution Account in accordance with pursuant to Section 4.225.01(c)(1) hereof. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof therefor except as specifically provided for herein. The Transferor also agrees to pay (i) all reasonable costs and expenses incurred by any successor Servicer or the Indenture Trustee in replacing the Servicer in the event of a default by the Servicer in the performance of its duties under the terms and conditions of this Agreement and (ii) the annual monitoring fees of the Rating Agencies.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Empire Funding Home Loan Owner Trust 1997-4)

Servicing Compensation. As compensation for its services hereunder, the Servicer shall be entitled to withdraw from the Custodial Account or to retain from interest payments on the Mortgage Loans Loans, the amount of its Servicing Fee, less any amounts payable by the Servicer pursuant to Section 4.04(viii). The Servicing Fee shall be payable monthly and shall be computed on the basis of the same unpaid principal balance and for the period respecting as to which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner Purchaser to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the Servicer. The aggregate of the Servicing Fees for any month with respect to the Mortgage Loans shall be reduced by any amount payable by the Servicer with respect to such month pursuant to Section 4.04 (viii). Additional servicing compensation in the form of assumption fees, to the extent provided in Section 6.01late payment charges, and late payment other similar charges shall be retained by the Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Structured Asset Securities Corporation)

Servicing Compensation. As compensation for its services activities hereunder, the Servicer shall be entitled to retain or withdraw from the Custodial Account or an amount equal to retain from interest payments on the Servicing Fee for each Mortgage Loans Loan, provided that the aggregate Servicing Fee with respect to any Distribution Date shall be reduced (but not below zero) by the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on any Compensating Interest paid by the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and Servicer with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited to, and payable solely from, the interest portion of such Monthly Payments collected by the ServicerDistribution Date. Additional servicing compensation in the form of (i) all income and gain net of any losses realized from Eligible Investments and (ii) assumption fees, late payment charges, all ancillary income and other receipts not required to be deposited to the extent provided in Custodial Account pursuant to Section 6.013.5 hereof, excluding any Excess Proceeds and late payment charges Prepayment Penalties, shall be retained by the Servicer to as additional servicing compensation. In addition, the extent not required to be deposited in the Custodial Account. Prepayment Charges Servicer shall be the property of the Owner and shall be deposited in entitled to retain or withdraw from the Custodial Account in accordance pursuant to Section 3.8(x) any Prepayment Interest Excess with Section 4.22respect to the Mortgage Loans serviced by the Servicer. The Servicer Servicer, the Master Servicer, the Securities Administrator and the Trustee shall be required to pay all expenses incurred by it them respectively in connection with its servicing their respective activities hereunder to the extent such expenses do not constitute Delinquency Advances or Nonrecoverable Advances as defined in this Agreement and shall not be entitled to reimbursement thereof therefor except as specifically provided for hereinin this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Aegis Asset Backed Securities Trust Mortgage Pass-Through Certificates, Series 2005-5)

Servicing Compensation. As compensation for its services activities hereunder, the Servicer shall be entitled to retain or withdraw from the Custodial Collection Account or an amount equal to retain from interest payments on the Servicing Fee for each Mortgage Loans Loan, provided that the aggregate Servicing Fee with respect to any Payment Date shall be reduced (i) by the amount of its Servicing Fee. The Servicing Fee shall be payable monthly and shall be computed on any Compensating Interest paid by the basis of the same unpaid principal balance and for the period respecting which any related interest payment on a Mortgage Loan is computed. The Servicing Fee shall be payable only at the time of and Servicer with respect to those Mortgage Loans for which payment is in fact made of the entire amount of the Monthly Payment. The obligation of the Owner to pay the Servicing Fee is limited tosuch Payment Date, and payable solely from(ii) with respect to the first Payment Date, an amount equal to any amount to be deposited into the interest portion of such Monthly Payments collected Payment Account by the ServicerDepositor pursuant to Section 2.1(a) and not so deposited. Additional servicing compensation in the form of (i) Prepayment Interest Excess and all income and gain net of any losses realized from Permitted Investments and (ii) assumption fees, late payment charges, and other receipts not required to be deposited to the extent provided in Collection Account pursuant to Section 6.013.5 hereof, and late payment charges including any Excess Proceeds, shall be retained by the Servicer to the extent not required to be deposited in the Custodial Account. Prepayment Charges shall be the property of the Owner and shall be deposited in the Custodial Account in accordance with Section 4.22as additional servicing compensation. The Servicer and Master Servicer shall be required to pay all expenses incurred by it them respectively in connection with its servicing their respective activities hereunder to the extent such expenses do not constitute Advances or Nonrecoverable Advances as defined in this Agreement and shall not be entitled to reimbursement thereof therefor except as specifically provided in this Agreement. Notwithstanding anything herein or in any other Operative Agreement to the contrary, in no event shall the Indenture Trustee be liable for the Servicing Fee or for any differential in the amount of the Servicing Fee and the amount necessary to induce any successor Servicer to act as successor Servicer under this Agreement and the transactions set forth or provided for herein.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Saxon Asset Securities Trust 2004-2)

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