Reduction of Servicing Compensation in Connection with Prepayment Interest Shortfalls. In the event that, for any Prepayment Period, there is a Prepayment Interest Shortfall arising from a voluntary Principal Prepayment in part or in full by a Mortgagor, the EMC Servicer shall, to the extent of its Servicing Fee and in reduction thereof, remit to the Master Servicer, for deposit into the Master Servicer Collection Account, no later than 1:00 p.m. Central time on the Servicer Remittance Date, an amount equal to the Prepayment Interest Shortfall; and in case of such deposit, the EMC Servicer shall not be entitled to any recovery or reimbursement from the Depositor, the Trustee, the Seller, the Securities Administrator, the Master Servicer, any other Servicer, the Trust Fund or the Certificateholders.
Appears in 14 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2003-Sd3), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2004-Sd3), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2003-Sd2)
