Definition of Portfolio Termination Payment

  1. Portfolio Termination Payment means, with respect to each Portfolio, any payment made by a loan owner or master servicer in connection with an exercise of any right that such Person may have to terminate the Company as the servicer of any Portfolio Mortgage Loan; provided, however, that, if such a payment is made with respect to a group of mortgage loans and fewer than all such mortgage loans are Portfolio Mortgage Loans, then the "Portfolio Termination Payment" shall mean the portion of such termination payment that is reasonably attributable to the Portfolio Mortgage Loans in such group based upon the methodology set forth in the applicable Servicing Agreement for the calculation of termination payments thereunder.

Definition of Portfolio Termination Payment in Participation Agreement

Portfolio Termination Payment means, with respect to each Portfolio, any payment made by a loan owner or master servicer in connection with an exercise of any right that such Person may have to terminate the Company as the servicer of any Portfolio Mortgage Loan; provided, however, that, if such a payment is made with respect to a group of mortgage loans and fewer than all such mortgage loans are Portfolio Mortgage Loans, then the "Portfolio Termination Payment" shall mean the portion of such termination payment that is reasonably attributable to the Portfolio Mortgage Loans in such group based upon the methodology set forth in the applicable Servicing Agreement for the calculation of termination payments thereunder.