Common use of Special Servicer Compensation Clause in Contracts

Special Servicer Compensation. The Special Servicer shall be entitled to reasonable compensation for services rendered by it hereunder on each Master Remittance Date from amounts in the Trust Fund in an amount equal to (i) one-twelfth of 0.0125% per annum of the Scheduled Principal Balance of each Mortgage Loan and (ii) one-twelfth of 0.25% per annum of the then current outstanding balance of any Specially Serviced Mortgage Loan.

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Morgan J P Commercial Mortgage Finance Corp)

Special Servicer Compensation. The Special Servicer shall be entitled to reasonable compensation for services rendered by it hereunder on each Master Remittance Date from amounts in the Trust Fund in an amount equal to (i) one-twelfth 1.00% of 0.0125% per annum of the Scheduled Principal Balance of all amounts collected on each Mortgage Loan and (ii) one-twelfth of 0.25% per annum of for the then current outstanding balance of any period beginning immediately following the date on which such Mortgage Loan became a Specially Serviced Mortgage LoanLoan until the Distribution Date immediately following the date on which the outstanding principal balance of such Mortgage Loan is reduced to zero.

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Morgan J P Commercial Mortgage Finance Corp)