Common use of Additional Obligations of Master Servicer Clause in Contracts

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.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Trust 2005-Cki1), Pooling and Servicing Agreement (Merrill Lynch Mortgage Trust 2005-Cki1)

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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 Representative) then, for purposes of determining the payment that the Master Servicer shall be is required to pay make to the Trust an amount equal to the entire cover that Prepayment Interest Shortfall without any limitation of Shortfall, the kind described reference to "Master Servicing Fee" in clauses (ii) clause (A) above shall be construed to include (1) the entire Master Servicing Fees payable to the Master Servicer with respect to the related Collection Period, inclusive of any portion payable to a third-party primary servicer and inclusive of any portion thereof that constitutes the related Excess Servicing Strip and (B2) abovethe amount of any investment income earned by the Master Servicer on the related Principal Prepayment while on deposit in the Collection Account. 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.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Trust 2005-McP1), Pooling and Servicing Agreement (Merrill Lynch Mortgage Trust 2005-McP1)

Additional Obligations of Master Servicer. (a) The Master Servicer shall deliver to the Trustee for deposit in the Collection Distribution Account by 1:00 p.m. (New York City time) on each P&I Advance Date (prior to any transfer of funds from the Collection Account to the Distribution Account on such date)Master Servicer Remittance Date, without any right of reimbursement therefor therefor, a cash payment (a "Compensating Interest Payment") in an amount equal to the lesser of (i) the aggregate amount of Prepayment Interest Shortfalls incurred in connection with Principal Prepayments received in respect to those Trust of Performing 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 as a result of the receipt of Insurance Proceeds or Liquidation Proceeds and other than Casualty/and/or Condemnation Principal Prepayments) creating a Prepayment Interest ShortfallProceeds), 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 aggregate of (A) with respect to such of those Prepayment Interest Shortfalls incurred, that portion of the such Master Servicer's Master Servicing Fees on (excluding Primary Servicing Fees) for the related Collection Period that is, in the case of each and every Mortgage Pool that represents an accrual Loan and REO Mortgage Loan for which such Master Servicing Fees are being paid in such Collection Period, calculated at a rate of 0.010.005% (0.5 basis points) per annum annum, and (B) the total amount of all Prepayment Interest Excesses that were collected received by such Master Servicer during the related most recently ended Collection Period; provided, however, that if a Prepayment Interest Shortfall occurs as a result of the Master Servicer's allowing the related Mortgagor Borrower to deviate from the terms of the related Mortgage Loan documents Documents regarding principal prepayments Principal Prepayments (other than (xW) as a result of the receipt of Insurance Proceeds and/or Condemnation Proceeds, (X) subsequent to a material default under the related Mortgage Loan documentsDocuments, (yY) pursuant to applicable law or a court order, or (zZ) at the request or with the consent of the Special Servicer or the Controlling Class Representative),the Master Servicer Representative), then, the amount specified in clause (ii)(A) above 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 Servicing Fee 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 such Collection Period.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)

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 Representative) (other than in connection with Principal Prepayments made out of Insurance Proceeds or Liquidation Proceeds and other than Casualty/Condemnation Principal Prepayments) then, for purposes of determining the payment that the Master Servicer shall be is required to pay make to the Trust an amount equal to the entire cover that Prepayment Interest Shortfall without any limitation of Shortfall, the kind described reference to "Master Servicing Fee" in clauses (ii) clause (A) above shall be construed to include (1) the entire Master Servicing Fees payable to the Master Servicer with respect to the related Collection Period, inclusive of any portion payable to a third-party primary servicer and (B2) abovethe amount of any investment income earned by the Master Servicer on the related Principal Prepayment while on deposit in the Collection Account. 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. Without the consent of the Special Servicer, the Master Servicer shall not allow Mortgagor to deviate from the terms of the related Mortgage Loan Documents regarding voluntary Principal Prepayments (other than with respect to Principal Prepayments made out of Insurance Proceeds or Liquidation Proceeds and other than Casualty/Condemnation Principal Prepayments) if a Prepayment Interest Shortfall, in excess of the amount required to be deposited by the Master Servicer in the Collection Account pursuant to the penultimate sentence of the second preceding paragraph, would occur as a result of such deviation.

Appears in 1 contract

Samples: Sub Servicing Agreement (Merrill Lynch Mortgage Trust 2005-Lc1)

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 then, for purposes of determining the request or with payment that the consent of the Special Servicer or the Controlling Class Representative),the Master Servicer shall be is required to pay make to the Trust an amount equal to the entire cover that Prepayment Interest Shortfall without any limitation of Shortfall, the kind described reference to "Master Servicing Fee" in clauses (ii) clause (A) above shall be construed to include (1) the entire Master Servicing Fees payable to the Master Servicer with respect to the related Collection Period, and inclusive of any portion payable to a third-party primary servicer and (B2) abovethe amount of any investment income earned by the Master Servicer on the related Principal Prepayment while on deposit in the Collection Account. . 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.preceding

Appears in 1 contract

Samples: Pooling and Servicing Agreement (MLCFC Commercial Mortgage Trust Series 2006-1)

Additional Obligations of Master Servicer. (a) The Master Servicer shall deposit in the Collection Certificate Account on each P&I Advance Date (prior to any transfer of funds from the Collection Account to the Distribution Account on such date)Date, without any right of reimbursement therefor with respect to those Trust each Mortgage Loans Loan that were, in each such case, was subject to a Principal Prepayment during the most recently ended Collection Period (other than Principal Prepayments made out of Insurance Proceeds Proceeds, condemnation proceeds or Liquidation Proceeds and other than Casualty/Condemnation Principal PrepaymentsProceeds) 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 Shortfall and (ii) the sum of (A) that portion of the Master Servicing Fees Fee (excluding any primary servicing fees) received by the Master Servicer during such Collection Period on such Mortgage Loan, (B) investment income earned by the Master Servicer on the Mortgage Pool that represents an accrual at a rate of 0.01% per annum related Principal Prepayment during the most recently ended Collection Period and (BC) 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 Documents regarding principal prepayments (other than (xa) subsequent to a material default under the related Mortgage Loan documentsDocuments, (yb) pursuant to applicable law or a court order, or (zc) at the request or with the consent of the Special Servicer or the Controlling Class Representative),the Representative) then, for purposes of determining the payment that the Master Servicer is required to make to cover that Prepayment Interest Shortfall, the reference to "Master Servicing Fee" in clause (A) above shall be construed to include a portion of the primary servicing fees payable to Master Servicer but not any of those payable to a third-party primary servicer. If any Prepayment Interest Shortfalls are incurred with respect to any Mortgage Loans by reason of involuntary prepayments being made with Insurance Proceeds and/or condemnation proceeds during any Collection Period, the Master Servicer shall be required to pay make a non-reimbursable payment with respect to the Trust related Distribution Date in an amount equal to the entire Prepayment Interest Shortfall without any limitation lesser of the kind described in clauses (ii) (A) the total amount of those Prepayment Interest Shortfalls that were incurred by reason of involuntary prepayments being made with Insurance Proceeds and/or condemnation proceeds and (B) above. Following the payments made any investment income earned by the Master Servicer pursuant to on 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 Shortfallsrelated Principal Prepayment. 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 not be cumulative as to any subsequent other Collection Period.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Comm Mort Ps THR Certs Ser 2003-Key1)

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Additional Obligations of Master Servicer. (a) The Master Servicer shall deliver to the Trustee for deposit in the Collection Distribution Account by 1:00 p.m. (New York City time) on each P&I Advance Date (prior to any transfer of funds from the Collection Account to the Distribution Account on such date)Master Servicer Remittance Date, without any right of reimbursement therefor therefor, a cash payment (a "Compensating Interest Payment") in an amount equal to the lesser of (i) the aggregate amount of Prepayment Interest Shortfalls incurred in connection with Principal Prepayments received in respect to those Trust of Performing 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 as a result of the receipt of Insurance Proceeds or Liquidation Proceeds and other than Casualty/and/or Condemnation Principal Prepayments) creating a Prepayment Interest ShortfallProceeds), 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 aggregate of (A) with respect to such of those Prepayment Interest Shortfalls incurred, that portion of the such Master Servicer's Master Servicing Fees on for the related Collection Period that is, in the case of each and every Mortgage Pool that represents an accrual Loan and REO Mortgage Loan for which such Master Servicing Fees are being paid in such Collection Period, calculated at a rate 0.005% (one-half of 0.01% one basis point) per annum annum, and (B) the total amount of all Prepayment Interest Excesses that were collected received by such Master Servicer during the related most recently ended Collection Period; provided, however, that if a Prepayment Interest Shortfall occurs as a result of the Master Servicer's allowing the related Mortgagor Borrower to deviate from the terms of the related Mortgage Loan documents Documents regarding principal prepayments Principal Prepayments (other than (xX) subsequent to a material default under the related Mortgage Loan documentsDocuments, (yY) pursuant to applicable law or a court order, or (zZ) at the request or with the consent of the Special Servicer or the Controlling Class Representative),the Master Servicer Representative), then, the amount specified in clause (ii)(A) above 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 Servicing Fee 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 such Collection Period.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse Commercial Mortgage Trust Series 2006-C3)

Additional Obligations of Master Servicer. (a) The Master Servicer shall deliver to the Trustee for deposit in the Collection Distribution Account by 2:00 p.m. (New York City time) on each P&I Advance Date (prior to any transfer of funds from the Collection Account to the Distribution Account on such date)Master Servicer Remittance Date, without any right of reimbursement therefor with respect to those Trust Mortgage Loans that weretherefor, a cash payment (a "Compensating Interest Payment") 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 aggregate amount of the related Prepayment Interest Shortfalls incurred in connection with Principal Prepayments received in respect of the Trust Mortgage Loans Pool during the most recently ended Collection Period, and (ii) the sum aggregate of (A) that portion of the its Master Servicing Fees on for the related Collection Period that is, in the case of each and every Mortgage Pool that represents an accrual Loan and REO Mortgage Loan for which such Master Servicing Fees are being paid in such Collection Period, calculated at a rate of 0.010.02% per annum annum, and (B) the total amount of all Prepayment Interest Excesses that were collected and, to the extent earned on Principal Prepayments, Net Investment Earnings received by the Master Servicer during the related most recently ended Collection Period; provided, however, that if a Prepayment Interest Shortfall occurs as a result of the Master Servicer's allowing the related Mortgagor Borrower to deviate from the terms of the related Mortgage Loan documents Documents regarding principal prepayments Principal Prepayments (other than (xX) subsequent to a material default under the related Mortgage Loan documentsDocuments, (yY) pursuant to applicable law or a court order, or (zZ) 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 paragraphRepresentative), then, for purposes of calculating the Master Servicer shall apply any remaining Prepayment Compensating Interest Excesses to offset any Casualty/Condemnation Interest Shortfall incurred with respect to any Trust Mortgage Loan during Payment for the subject Collection Period. Except , the rate referred to in clause (ii)(A) above shall be 0.05% per annum (except as provided in the preceding paragraphs, no other compensation to the Master Servicer Mortgage Loans secured by the Mortgaged Properties identified on the Mortgage Loan Schedule as Milford Commons Apartments, Parkway Place Townhomes, Crystal Pavilion/Xxxxx Building, Lennox Court Apartments, Normandie Avenue Apartments, Palmdale Xxxxxxx Apartments and Palmdale Villa Apartments, for which it shall in each case be available 0.03% per annum); and provided, further, that the rights of the Certificateholders to cover offset the aggregate 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) Shortfalls shall not, in the absence of default under this Section 3.19(a), carry over to any subsequent Collection Periodnot be cumulative.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse Fr Bs Mor Sec Cp Com Mor Ps Th Ce Ser 2001-Ck1)

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 Representative) then, for purposes of determining the payment that the Master Servicer shall be is required to pay make to the Trust an amount equal to the entire cover that Prepayment Interest Shortfall without any limitation of Shortfall, the kind described reference to "Master Servicing Fee" in clauses (ii) clause (A) above shall be construed to include (1) the entire Master Servicing Fees payable to the Master Servicer with respect to the related Collection Period, inclusive of any portion payable to a third-party primary servicer and inclusive of any portion thereof that constitutes the related Excess Servicing Strip and (B2) abovethe amount of any investment income earned by the Master Servicer on the related Principal Prepayment while on deposit in the Collection Account. 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. Without the consent of the Special Servicer, the Master Servicer shall not allow Mortgagor to deviate from the terms of the related Mortgage Loan Documents regarding voluntary Principal Prepayments (other than with respect to Principal Prepayments made out of Insurance Proceeds or Liquidation Proceeds and other than Casualty/Condemnation Principal Prepayments) if a Prepayment Interest Shortfall would occur as a result of such deviation.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)

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