Common use of Additional Compensation to the Master Servicer Clause in Contracts

Additional Compensation to the Master Servicer. Pursuant to Section 4.02(c), certain income and gain realized from any investment of funds in the Master Servicer Collection Account shall be for the benefit of the Master Servicer as additional compensation. Servicing compensation in the form of assumption fees, if any, late payment charges, as collected, if any, or otherwise (but, unless otherwise specifically permitted in a Servicing Agreement, not including any Prepayment Penalty Amounts) shall be retained by the applicable Servicer, or the Master Servicer, and shall not be deposited in the related Servicer Account or Master Servicer Collection Account. The Master Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder and shall not be entitled to reimbursement therefor except as provided in this Agreement. The amount of the aggregate compensation payable as set forth in this Section 3.14 plus the Master Servicing Fee due to the Master Servicer in respect of any Distribution Date shall be reduced in accordance with Section 6.07.

Appears in 5 contracts

Samples: Trust, Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2003 5), Trust, Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2004-4), Trust, Pooling and Servicing Agreement (Structured Asset Mortgage Investments Inc)

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Additional Compensation to the Master Servicer. Pursuant In addition to Section 4.02(c)the Master Servicing Fee, pursuant to Article IV, certain income and gain realized from any investment of funds in the Master Servicer Collection Distribution Account shall be for the benefit of the Master Servicer as additional compensation. Servicing compensation in the form of assumption fees, if any, late payment charges, as collected, if any, or otherwise (but, unless otherwise specifically permitted in a Servicing Agreement, not including any Prepayment Penalty Amounts) shall be retained by the applicable Servicer, or the Master Servicer, and shall not be deposited in the related Servicer Servicing Account or Master Servicer Collection the Distribution Account. The Master Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder and shall not be entitled to reimbursement therefor except as provided in this Agreement. The amount of the aggregate compensation payable as set forth in this Section 3.14 plus the Master Servicing Fee due to the Master Servicer in respect of any Distribution Date shall be reduced in accordance with Section 6.075.06.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Harborview 2006-2)

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Additional Compensation to the Master Servicer. Pursuant to Section 4.02(c), certain income and gain realized from any investment of funds in the Master Servicer Collection Distribution Account shall be for the benefit of the Master Servicer as additional compensation. Servicing compensation in the form of assumption fees, if any, late payment charges, as collected, if any, or otherwise (but, unless otherwise specifically permitted in a Servicing Agreement, not including any Prepayment Penalty Amounts) shall be retained by the applicable Servicer, or the Master Servicer, and shall not be deposited in the related Servicer Account or Master Servicer Collection Distribution Account. The Master Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder and shall not be entitled to reimbursement therefor except as provided in this Agreement. The amount of the aggregate compensation payable as set forth in this Section 3.14 plus the Master Servicing Fee due to the Master Servicer in respect of any Distribution Date shall be reduced in accordance with Section 6.07.

Appears in 1 contract

Samples: Trust, Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2005-4)

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