Additional Obligations of Master Servicer. (a) The Master Servicer shall deposit in the Collection Account on each P&I Advance Date (prior to any transfer of funds from the Collection Account to the Distribution Account on such date), without any right of reimbursement therefor with respect to those Trust Mortgage Loans that were, in each such case, subject to a Principal Prepayment during the most recently ended Collection Period (other than Principal Prepayments made out of Insurance Proceeds or Liquidation Proceeds and other than Casualty/Condemnation Principal Prepayments) creating a Prepayment Interest Shortfall, an aggregate amount equal to the lesser of (i) the amount of the related Prepayment Interest Shortfalls in respect of the Trust Mortgage Loans and (ii) the sum of (A) that portion of the Master Servicing Fees on the Mortgage Pool that represents an accrual at a rate of 0.01% per annum and (B) the total amount of Prepayment Interest Excesses that were collected during the related Collection Period; provided, however, that if a Prepayment Interest Shortfall occurs as a result of the Master Servicer's allowing the related Mortgagor to deviate from the terms of the related Mortgage Loan documents regarding principal prepayments (other than (x) subsequent to a material default under the related Mortgage Loan documents, (y) pursuant to applicable law or a court order, or (z) at the request or with the consent of the Special Servicer or the Controlling Class Representative),the Master Servicer shall be required to pay to the Trust an amount equal to the entire Prepayment Interest Shortfall without any limitation of the kind described in clauses (ii) (A) and (B) above. Following the payments made by the Master Servicer pursuant to the preceding paragraph (excluding the payments contemplated by the proviso to the sole sentence of the preceding paragraph), the Master Servicer shall apply any remaining Prepayment Interest Excesses to offset any Casualty/Condemnation Interest Shortfall incurred with respect to any Trust Mortgage Loan during the subject Collection Period. Except as provided in the preceding paragraphs, no other compensation to the Master Servicer shall be available to cover Prepayment Interest Shortfalls. The Master Servicer's obligation to make any particular deposit in respect of any Collection Period as set forth in this Section 3.19(a) shall not, in the absence of default under this Section 3.19(a), carry over to any subsequent Collection Period.
Additional Obligations of Master Servicer. The Master Servicer shall deliver to the Paying Agent for deposit in the Distribution Account on each P&I Advance Date, without any right of reimbursement therefor, an amount equal to the lesser of (i) the excess, if any, of (A) aggregate amount of Prepayment Interest Shortfalls incurred in connection with Principal Prepayments received during the most recently ended Collection Period over (B) the aggregate amount of Prepayment Interest Excesses collected in connection with Principal Prepayments received during such Collection Period, and (ii) the total amount of all servicing compensation received by the Master Servicer during such Collection Period.
Additional Obligations of Master Servicer. (a) The Master Servicer shall deliver to the Trustee for deposit in the Distribution Account on each Master Servicer Remittance Date, without any right of reimbursement therefor, an amount equal to the lesser of (i) the aggregate amount of Prepayment Interest Shortfalls incurred in connection with Principal Prepayments received during the most recently ended Collection Period, and (ii) the total amount of Master Servicing Fees received by the Master Servicer during such Collection Period plus any Prepayment Interest Excesses received during such Collection Period.
Additional Obligations of Master Servicer. (a) The Master Servicer shall deposit in the Collection Account on each P&I Advance Date, without any right of reimbursement therefor with respect to those Trust Mortgage Loans that were, in each such case, subject to a Principal Prepayment during the most recently ended Collection Period (other than Principal Prepayments made out of Insurance Proceeds or Liquidation
Additional Obligations of Master Servicer. (a) The Master Servicer shall deposit in the Certificate Account on each P&I Advance Date, without any right of reimbursement therefor with respect to each Mortgage Loan (other than a Specially Serviced Mortgage Loan) that was subject to a Principal Prepayment during the most recently ended Collection Period creating a Prepayment Interest Shortfall, an amount equal to the lesser of (i) the amount of the related Prepayment Interest Shortfall and (ii) the sum of (A) the Master Servicing Fee (calculated for this purpose only at a rate of 0.02% per annum) received by the Master Servicer during such Collection Period on such Mortgage Loan and (B) investment income earned by the Master Servicer on the related Principal Prepayment during the most recently ended Collection Period, provided, however, that the Master Servicer will not be responsible for the payment of any Prepayment Interest Shortfall to the extent the incurrence of such Prepayment Interest Shortfall is consistent with the Servicing Standard and the Master Servicer has given at least five Business Days' prior notice thereof (or to the extent that five Business Day's prior notice is not practicable, such period of prior notice as is practicable) to the Controlling Class Representative.
Additional Obligations of Master Servicer. Section 3.20 Modifications, Waivers, Amendments and Consents........................................................ Section 3.21 Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping......................................................... Section 3.22 Sub-Servicing Agreements........................................ Section 3.23 Controlling ClassRepresentative................................ Section 3.24 Certain Rights and Powers of the Controlling ClassRepresentative................................ Section 3.25
Additional Obligations of Master Servicer. SECTION 3.20. Modifications, Waivers, Amendments and Consents..........
Additional Obligations of Master Servicer. (a) The Master Servicer shall deliver to the Paying Agent for deposit in the Distribution Account on each P&I Advance Date, without any right of reimbursement therefor, an amount equal to the lesser of (i) the excess, if any, of (A) aggregate amount of Prepayment Interest Shortfalls incurred in connection with Principal Prepayments received during the most recently ended Collection Period over (B) the aggregate amount of Prepayment Interest Excesses collected in connection with Principal Prepayments received during such Collection Period, and (ii) the total amount of Master Servicing Fee received by the Master Servicer during such Collection Period (with respect to all Mortgage Loans other than Specially Serviced Mortgage Loans and only up to 0.01% per annum per Mortgage Loan on an aggregate basis).
Additional Obligations of Master Servicer. The Master Servicer shall deliver to the Paying Agent for deposit in the Distribution Account on each P&I Advance Date, without any right of reimbursement therefor, an amount equal to the lesser of (i) the excess, if any, of (A) aggregate amount of Prepayment Interest Shortfalls incurred in connection with Principal Prepayments received during the most recently ended Collection Period over (B) the aggregate amount of Prepayment Interest Excesses collected in connection with Principal Prepayments received during such Collection Period, and (ii) the total amount of servicing compensation received by the Master Servicer during such Collection Period; provided, however, that in determining servicing compensation of the initial Master Servicer for purposes of this Section 3.19, with respect to each Mortgage Loan for which the initial Master Servicer has received the Scheduled Payment for the related Due Date, the initial Master Servicer shall be deemed to have received a Servicing Fee computed based upon the Imputed Servicing Fee Rate.
Additional Obligations of Master Servicer. The Master Servicer shall deliver to the Paying Agent for deposit in the Distribution Account on each P&I Advance Date, without any right of reimbursement therefor, an amount equal to the aggregate of any Prepayment Interest Shortfalls incurred in connection with Principal Prepayments received during the most recently ended Collection Period (but only up to the sum of (i) a portion of the Master Servicing Fee for the related Collection Period equal to .01% per annum on a Mortgage Loan on an aggregate basis and (ii) any Prepayment Interest Excess received during such Collection Period); provided, however, that to the extent the Master Servicer accepts a prepayment on any day other than the Due Date and the applicable Mortgage Loan documents only permit the Mortgagor to make a prepayment on the Due Date, the Master Servicer shall deposit an amount equal to the sum of (i) the entire aggregate Master Servicer Fee payable to the Master Servicer for the related Collection Period plus (ii) any Prepayment Interest Excess received during such Collection Period.
