Examples of Net Simple Interest Excess in a sentence
Net_Int_Exc_Short Text 9 (169:177) Net Simple Interest Excess / Shortfall is the difference between the net interest actually received by the servicer and the net interest passed through to the Investors with respect to current transaction (which is not a payment in full).
Additional servicing compensation in the form of Prepayment Interest Excess, Net Simple Interest Excess, Prepayment Premiums, assumption fees, modification fees, late payment charges, interest income or gain with respect to amounts deposited in the Certificate Account and invested by the Company or otherwise shall be retained by the Company, subject to Section 3.10(b), if applicable.
The Trustee shall, on each Distribution Date prior to making the distributions pursuant to Section 5.01, transfer to the Simple Interest Excess Account all Net Simple Interest Excess, if any, for such Distribution Date pursuant to Section 3.03(i), and shall maintain a record of such deposit.
Moreover, additional servicing compensation in the form of prepayment penalties, late payment charges, bad check charges or assumption fees, any Net Simple Interest Excess for the related Due Period or other receipts not required to be deposited in the Collection Account, including, without limitation, Foreclosure Profits and, subject to Section 5.05(e), investment income on the Collection Account shall be retained by the Servicer.
The Trustee shall, on each Payment Date, transfer to the Simple Interest Excess Sub-Account all Net Simple Interest Excess, if any, for such Payment Date.