Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- day year. All calculations of interest on the Securities shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny with one-half of one penny being rounded down.
Appears in 13 contracts
Samples: Servicing Agreement (Opteum Mortgage Acceptance CORP), Servicing Agreement (BNP Paribas Mortgage ABS LLC), Servicing Agreement (Icifc Secured Assets Corp)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- day year. All calculations of interest on the Securities shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-half of one penny xxxxx being rounded down.
Appears in 11 contracts
Samples: Servicing Agreement (Opteum Mortgage Acceptance CORP), Servicing Agreement (Ab Mortgage Securities Corp), Servicing Agreement (National City Mortgage Capital LLC)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-half of one penny xxxxx being rounded down.
Appears in 8 contracts
Samples: Servicing Agreement (Long Beach Securities Corp), Sale and Servicing Agreement (Greenpoint Mortgage Securities Inc/), Servicing Agreement (WaMu Asset Acceptance Corp.)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities Notes shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 360-days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-half of one penny xxxxx being rounded downup.
Appears in 7 contracts
Samples: Servicing Agreement (Wachovia Mortgage Loan Trust, LLC), Servicing Agreement (Wachovia Asset Sec Inc Asst Back Notes Ser 2002 He1), Servicing Agreement (Wachovia Asset Securitization Inc 2002 He2 Trust)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities Notes shall be made on the basis of the actual number of days in an Interest Accrual Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-half of one penny xxxxx being rounded down.
Appears in 7 contracts
Samples: Sale and Servicing Agreement (GreenPoint Home Equity Loan Trust 2004-3), Sale and Servicing Agreement (Greenpoint Mortgage Securities LLC), Sale and Servicing Agreement (Greenpoint Mortgage Securities LLC)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny with one-half of one penny being rounded down.
Appears in 5 contracts
Samples: Servicing Agreement (Park Place Securities, Inc.), Servicing Agreement (Southern Pacific Secured Assets Corp), Servicing Agreement (DLJ Mortgage Acceptance Corp)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Asset Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities Investor Certificates shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-half of one penny xxxxx being rounded down.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Cwabs Inc), Pooling and Servicing Agreement (Greenpoint Mortgage Securities Inc/), Greenpoint Mortgage Securities (Greenpoint Mortgage Securities Inc/)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- day year. All calculations of interest on the Securities shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny with one-half of one penny being rounded bexxx xounded down.
Appears in 4 contracts
Samples: Servicing Agreement (Citigroup Mortgage Loan Trust Inc), Servicing Agreement (MortgageIT Securities Corp.), Servicing Agreement (National City Mortgage Capital LLC)
Interest Calculations. All calculations of interest --------------------- hereunder that are made in respect of the Principal Asset Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities Investor Certificates shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny cent with one-half of one penny cent being rounded down.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Cwabs Inc), Pooling and Servicing Agreement (Cwabs Inc), Pooling and Servicing Agreement (Cwabs Inc)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Loan Balance of a Mortgage Home Equity Loan shall be made on a daily basis using a 365- 365/366-day year. All calculations of interest on the Securities shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-half of one penny xxxxx being rounded downup.
Appears in 3 contracts
Samples: Servicing Agreement (Heloc Asset-Backed Notes Series 2003-2), Servicing Agreement (Morgan Stanley Abs Capital I Inc MSDWCC Heloc Trust 2003-1), Servicing Agreement (Morgan Stanley ABS Capital I Inc. MSDWCC HELOC Trust 2005-1)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities Notes shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-half of one penny xxxxx being rounded down.
Appears in 3 contracts
Samples: Sale and Servicing Agreement (Greenpoint Mortgage Securities Inc/), Sale and Servicing Agreement (Greenpoint Mortgage Securities Inc/), Sale and Servicing Agreement (Greenpoint Mortgage Securities Inc/)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Asset Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities Investor Certificates shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny cent with one-half of one penny cent being rounded down.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Cwabs Inc), Pooling and Servicing Agreement (Indymac Abs Inc), Pooling and Servicing Agreement (Indymac Abs Inc)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities Notes shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 360-days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny with one-half of one penny being rounded downup.
Appears in 3 contracts
Samples: Servicing Agreement (Wachovia Asset Securitization Inc 2003-He2 Trust), Servicing Agreement (Wachovia Asset Securitization Inc), Servicing Agreement (Residential Asset Mort Prod Inc Gmacm Home Eq Ln Tr 2004 He1)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Loan Balance of a Mortgage Revolving Credit Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-half of one penny xxxxx being rounded downup.
Appears in 2 contracts
Samples: Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Servicing Agreement (Residential Funding Mortgage Securities Ii Inc)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Asset Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities Investor Certificates shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny with pennx xxxh one-half of one penny being pennx xxxng rounded down.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Banc One Abs Corp), Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities Notes shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of the actual number of days elapsed in a 360-day year consisting of twelve 30-day monthsyear. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-half of one penny xxxxx being rounded down.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Greenpoint Home Equity Loan Trust 1999 2), Sale and Servicing Agreement (Headlands Mortgage Securities Inc)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities Notes shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 360-days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny with one-half of one penny being rounded downbeixx xxunded up.
Appears in 2 contracts
Samples: Servicing Agreement (Gmacm Home Equity Loan Backed Term Notes Ser 2003-He1), Servicing Agreement (Residential Asset Mortgage Products Inc)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Loan Balance of a Mortgage Revolving Credit Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny pxxxx with one-half of one penny pxxxx being rounded down.up. [NY01:240828.4] 16069-00382 12/20/96 12:15am 2
Appears in 2 contracts
Samples: Servicing Agreement (Residential Funding Mortgage Securities Ii Inc), Servicing Agreement (Residential Funding Mortgage Securities Ii Inc)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities Notes shall be made on the basis of the actual number of days in an Interest Accrual Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny with one-half of one penny being rounded down.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Greenpoint Mortgage Securities Inc/)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities Investor Certificates shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-half of one penny xxxxx being rounded down.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc One Abs Corp)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Loan Balance of a Mortgage Revolving Credit Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny pxxxx with one-half of one penny pxxxx being rounded down.up. [NY01:227422.4] 16069-00369 10/28/96 5:11pm 2
Appears in 1 contract
Samples: Servicing Agreement (Residential Funding Mortgage Securities Ii Inc)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities Notes shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 360-days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny with one-half of one penny being xxxxx rounded downup.
Appears in 1 contract
Samples: Servicing Agreement (Residential Asset Mortgage Products Inc)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-half of one penny xxxxx being rounded downup.
Appears in 1 contract
Samples: Servicing Agreement (Bear Stearns Asset Back Sec Inc Gmacm Rev Ho Eq Lo Tr 1998-2)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Loan Balance of a Mortgage Home Equity Loan shall be made on a daily basis using a 365- 365/366-day year. All calculations of interest on the Securities shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 [__] days. The calculation of the Servicing Fee shall be made on the basis of a 360-day [__]-day year consisting of twelve 30-day [__] [__]-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny with one-half of one penny being rounded downup.
Appears in 1 contract
Samples: Servicing Agreement (Morgan Stanley Abs Capital I Inc)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Loan Balance of a Mortgage Revolving Credit Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny with one-half of one penny being xxxxx rounded down.up. [NY01B:310000.2] 16069-00394 03/27/97 10:57am 2
Appears in 1 contract
Samples: Servicing Agreement (Residential Funding Mortgage Securities Ii Inc)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities Bonds shall be made on the basis of the actual number of days in an Interest Accrual Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-half of one penny xxxxx being rounded down.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Sequoia Residential Funding Inc)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities shall be made on Notes and the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-half of one penny xxxxx being rounded downup.
Appears in 1 contract
Samples: Servicing Agreement (Phoenix Residential Securities, LLC)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days360-day year. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-half of one penny xxxxx being rounded downup.
Appears in 1 contract
Samples: Servicing Agreement (Residential Funding Mortgage Securities Ii Inc)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Loan Balance of a Mortgage Home Equity Loan shall be made on a daily basis using a 365- 365/366 day year. All calculations of interest on the Securities shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-one half of one penny xxxxx being rounded downup.
Appears in 1 contract
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny with one-half of one penny being rounded down.. &&&
Appears in 1 contract
Samples: Servicing Agreement (New Century Mortgage Securities LLC)
Interest Calculations. All calculations of interest --------------------- hereunder that are made in respect of the Principal Asset Balance of a Mortgage Loan shall be made on a daily basis using a 365- 360-day year. All calculations of interest on the Securities Investor Certificates shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-half of one penny xxxxx being rounded down.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Securities Corp)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Asset Balance of a Mortgage __________ Loan shall be made on (a daily basis using a 365- 365-day year). All calculations of interest on the Securities shall be made on the basis of (the actual number of days in an Interest Period and a year assumed to consist of 360 days). The calculation of the Servicing Fee shall be made on the basis of (a 360-day year consisting of twelve 30-day months). All dollar amounts calculated hereunder shall be rounded to the nearest penny with one-half of one penny being rounded down.
Appears in 1 contract
Samples: Servicing Agreement (Beneficial Mortgage Services Inc)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities Notes shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 360-days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny with one-half of one penny being bxxxx rounded downup.
Appears in 1 contract
Samples: Servicing Agreement (Residential Asset Mortgage Products Inc)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities Investor Certificates shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny with pennx xxxh one-half of one penny being pennx xxxng rounded down.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc One Abs Corp)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Asset Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-half of one penny xxxxx being rounded downup.
Appears in 1 contract
Samples: Homepride Mortgage Finance Corp
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- day year. All calculations of interest on the Securities shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny with one-half of one penny being rounded beixx xxunded down.
Appears in 1 contract
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Loan Balance of a Mortgage Revolving Credit Loan shall be made on a daily basis using a 365- 365/366-day year. All calculations of interest on the Securities shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-half of one penny xxxxx being rounded downup.
Appears in 1 contract
Samples: Servicing Agreement (Morgan Stanley Abs Capital I Inc)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities Bonds shall be made on the basis of the actual number of days in an Interest Accrual Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny pxxxx with one-half of one penny pxxxx being rounded down.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Sequoia Mortgage Funding Corp)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities shall be made on Notes and the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny with one-half of one penny being rounded downup.
Appears in 1 contract
Samples: Servicing Agreement (GMACM Home Equity Loan Trust 2007-He3)
Interest Calculations. All calculations of interest hereunder that are made in respect of the Principal Balance of a Mortgage Loan shall be made on a daily basis using a 365- 365-day year. All calculations of interest on the Securities Bonds shall be made on the basis of the actual number of days in an Interest Period and a year assumed to consist of 360 360-days. The calculation of the Servicing Fee shall be made on the basis of a 360-day year consisting of twelve 30-day months. All dollar amounts calculated hereunder shall be rounded to the nearest penny xxxxx with one-half of one penny xxxxx being rounded downup.
Appears in 1 contract
Samples: Master Servicing Agreement (BellaVista Finance CORP)
