Examples of Assigned Prepayment Premium in a sentence
Notwithstanding any provision in this Agreement to the contrary, in the event the Assigned Prepayment Premium payable under the terms of the related Mortgage Note is less than the amount of the Assigned Prepayment Premium set forth in the Mortgage Loan Schedule or other information provided to the applicable Servicer, such Servicer shall not have any liability or obligation with respect to such difference.
For the avoidance of doubt, the applicable Servicer may waive an Assigned Prepayment Premium in connection with a short sale or short payoff on a defaulted Mortgage Loan.
In addition, the Servicer shall be entitled to be paid, as additional servicing compensation, (i) any prepayment penalty received on a Mortgage Loan that is not an Assigned Prepayment Premium, and any late charges, nonsufficient funds fees and other fees and charges collected on the Mortgage Loan, (ii) to the extent provided in Section 3.03, all gains realized on investments of funds held in the Investment Account and (iii) all gains realized on investments of funds held in the Certificate Account.
If one or more of the preceding conditions is satisfied, the related Servicer shall be obligated to waive the related Assigned Prepayment Premium.
If the related Servicer has waived all or a portion of an Assigned Prepayment Premium for any reason, it shall notify the Trust Administrator and DLJMC thereof and shall include such information, including the reason for such waiver, in any monthly reports it provides the Trust Administrator and DLJMC.