Prepayment Interest Excess Amount. With respect to any Principal Prepayment in full which is applied to the related Mortgage Loan from the first day of the month of any Remittance Date through the sixteenth day of the month of such Remittance Date, all amounts paid in respect of interest on such Principal Prepayment in full. A Prepayment Interest Excess Amount cannot result from a Principal Prepayment in part, but only from a Principal Prepayment in full.
Prepayment Interest Excess Amount. Not applicable.
Prepayment Interest Excess Amount. For any Servicer Remittance Date and any Principal Prepayment received during the portion of the related Prepayment Period occurring from and including the first day through the fifteenth day of the calendar month in which such Servicer Remittance Date occurs, an amount equal to interest (to the extent received) due in connection with such Principal Prepayment.
Examples of Prepayment Interest Excess Amount in a sentence
Any Prepayment Interest Excess Amount shall be retained by, or paid to, the Servicer as a part of the Servicing Fee.
Any Prepayment Interest Excess Amount shall be retained by, or paid to, the Servicer as part of the Chase Servicing Fee.
Any Prepayment Interest Excess Amount shall be returned by, or paid to, the Servicer as part of the Servicing Fee.
Any Prepayment Interest Excess Amount shall be retained by, or paid to, the Servicer as additional compensation.
Any Prepayment Interest Excess Amount shall be retained by, or paid to, the Servicer as part of the Servicing Fee.
More Definitions of Prepayment Interest Excess Amount
Prepayment Interest Excess Amount. With respect to any full or partial Principal Prepayment of a Mortgage Loan, the difference between (i) the amount of interest actually received with respect to such Mortgage Loan at the time of such Principal Prepayment and (ii) one full month's interest at the applicable Mortgage Rate (giving effect to any applicable Relief Act Reduction) (and in the case of Principal Prepayments in full, as reduced by the Servicing Fee Rate for Principal Prepayments in full only) on the outstanding principal balance of such Mortgage Loan immediately prior to such prepayment.
Prepayment Interest Excess Amount. With respect to any Principal Prepayment in full of a Mortgage Loan received from the first day through the sixteenth day of any calendar month, all amounts paid in respect of interest on such Principal Prepayment."
Prepayment Interest Excess Amount. With respect to any Principal Prepayment in full or in part received on the first day of the month of the Remittance Date, all amounts received in respect of interest on such Principal Prepayment.
Prepayment Interest Excess Amount. With respect to any Remittance Date, for each Mortgage Loan (other than a Simple Interest Mortgage Loan) that was subject to a voluntary Principal Prepayment in full during that portion of the related Principal Prepayment Period occurring during the calendar month in which such Remittance Date occurs (other than Principal Prepayments relating to a purchase or a repurchase of the Mortgage Loan by the Seller or any other Person), which Principal Prepayment was applied to such Mortgage Loan prior to such Mortgage Loan’s Due Date in the succeeding Principal Prepayment Period, the amount of interest (net of the related Servicing Fee and LPMI Fee, if any, for such Principal Prepayments) that accrued during the period commencing on the first day of the calendar month in which such Remittance Date occurs and ending on the date as of which such Principal Prepayment was applied to such Mortgage Loan.
Prepayment Interest Excess Amount. With respect to any Distribution Date, for each Mortgage Loan for which a Principal Prepayment in full or in part is applied on or after the first calendar day of the month of such Distribution Date and before the 15th calendar day of such month, the amount of interest collected on such Principal Prepayment in full at the applicable Mortgage Loan Remittance Rate from the first day of the month in which such Distribution Date occurs through the day on which such Principal Prepayment is applied.
Prepayment Interest Excess Amount. With respect to any Remittance Date, for each Mortgage Loan that was subject to a voluntary Principal Prepayment in full during that portion of the related Principal Prepayment Period occurring during the calendar month in which such Remittance Date occurs (other than Principal Prepayments relating to a repurchase of the Mortgage Loan by the Seller or any other Person), which Principal Prepayment was remitted to the Distribution Account with the remittance for the succeeding Principal Prepayment Period, the amount of interest (net of the related Servicing Fee for such Principal Prepayments) that accrued during the period commencing on the first day of the calendar month in which such Remittance Date occurs and ending on the last day of the related Principal Prepayment Period.
Prepayment Interest Excess Amount. With respect to any Distribution Date, any interest collected by the Servicer with respect to any Mortgage Loan as to which a Principal Prepayment occurs from the 1st day of the month through the 14th day of the month in which such Distribution Date occurs and that represents interest that accrues from the 1st day of such month to the date of such Principal Prepayment.