Common use of Adjustment of Servicing Compensation in Respect of Prepaid Mortgage Loans Clause in Contracts

Adjustment of Servicing Compensation in Respect of Prepaid Mortgage Loans. The Monthly Servicing Fee that the Servicer shall be entitled to receive with respect to all of the Mortgage Loans and each Distribution Date shall be offset on such Distribution Date by an amount equal to the aggregate Prepayment Interest Shortfall with respect to all Mortgage Loans which were subjects of Principal Prepayments during the month preceding the month of such Distribution Date. The amount of any offset against the Monthly Servicing Fee with respect to any Distribution Date under this Section 5.17 shall be limited to the Monthly Servicing Fee otherwise payable to the Servicer (without adjustment on account of Prepayment Interest Shortfalls) with respect to such Distribution Date, and the rights of the Certificateholders to the offset of the aggregate Prepayment Interest Shortfalls shall not be cumulative.

Appears in 21 contracts

Samples: Pooling and Servicing Agreement (CSFB Mortgage Sec Corp Abfs Mort Ln Tr 2002-3), Pooling and Servicing Agreement (American Business Financial Services Inc /De/), Pooling and Servicing Agreement (American Business Financial Services Inc /De/)

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Adjustment of Servicing Compensation in Respect of Prepaid Mortgage Loans. The Monthly Servicing Fee that the Servicer shall be entitled to receive with respect to all of the each Mortgage Loans Loan and each Distribution Payment Date shall be offset on such Distribution Payment Date by an amount equal to the aggregate Prepayment Interest Shortfall with respect to all such Mortgage Loans which were subjects Loan to the extent that it is the subject of Principal Prepayments during the month preceding the month of such Distribution Payment Date. The amount of any offset against the Monthly Servicing Fee with respect to any Distribution Payment Date under this Section 5.17 shall be limited to the Monthly Servicing Fee otherwise payable to the Servicer (without adjustment on account of Prepayment Interest Shortfalls) with respect to such Distribution DateMortgage Loan, and the rights of the Certificateholders Noteholders to the offset of the aggregate Prepayment Interest Shortfalls against the Monthly Servicing Fee shall not be cumulative.

Appears in 7 contracts

Samples: Sale and Servicing Agreement (Prudential Securities Secured Financing Corp), Sale and Servicing Agreement (Prudential Securities Secured Financing Corp), Sale and Servicing Agreement (Prudential Securities Secured Financing Corp)

Adjustment of Servicing Compensation in Respect of Prepaid Mortgage Loans. The Monthly Servicing Fee that the Servicer shall be entitled to receive with respect to all of the each Mortgage Loans Loan and each Distribution Date shall be offset on such Distribution Date by an amount equal to the aggregate Prepayment Interest Shortfall with respect to all such Mortgage Loans which were subjects Loan to the extent that it is the subject of Principal Prepayments during the month preceding the month of such Distribution Date. The amount of any offset against the Monthly Servicing Fee with respect to any Distribution Date under this Section 5.17 shall be limited to the Monthly Servicing Fee otherwise payable to the Servicer (without adjustment on account of Prepayment Interest Shortfalls) with respect to such Distribution DateMortgage Loan, and the rights of the Certificateholders Noteholders to the offset of the aggregate Prepayment Interest Shortfalls against the Monthly Servicing Fee shall not be cumulative.

Appears in 6 contracts

Samples: Sale and Servicing Agreement (Prudential Securities Secured Financing Corp), Sale and Servicing Agreement (American Business Financial Services Inc /De/), Sale and Servicing Agreement (Prudential Securities Secured Financing Corp)

Adjustment of Servicing Compensation in Respect of Prepaid Mortgage Loans. The Monthly Servicing Fee that the Servicer shall be entitled to receive with respect to all of the each Mortgage Loans Loan and each Distribution Payment Date shall be offset on such Distribution Payment Date by an amount equal to the aggregate Prepayment Interest Shortfall with respect to all such Mortgage Loans which were subjects Loan to the extent that it is the subject of Principal Prepayments during the month preceding the month of such Distribution Payment Date. The amount of any offset against the Monthly Servicing Fee with respect to any Distribution Payment Date under this Section 5.17 7.17 shall be limited to the Monthly Servicing Fee otherwise payable to the Servicer (without adjustment on account of Prepayment Interest Shortfalls) with respect to such Distribution DateMortgage Loan, and the rights of the Certificateholders Noteholders to the offset of the aggregate Prepayment Interest Shortfalls against the Servicing Fee shall not be cumulative.

Appears in 4 contracts

Samples: Sale and Servicing Agreement (American Business Financial Services Inc /De/), Sale and Servicing Agreement (American Business Financial Services Inc /De/), Sale and Servicing Agreement (American Business Financial Services Inc /De/)

Adjustment of Servicing Compensation in Respect of Prepaid Mortgage Loans. The Monthly Servicing Fee that the Servicer shall be entitled to receive with respect to all of the Mortgage Loans and each Distribution Date shall be offset on such Distribution Date by an amount equal to the aggregate Prepayment Interest Shortfall with respect to all Mortgage Loans which were subjects of Principal Prepayments during the month preceding the month of such Distribution Date. The amount of any offset against the Monthly Servicing Fee with respect to any Distribution Date under this Section 5.17 shall be limited to the Monthly Servicing Fee otherwise payable to the Servicer (without adjustment on account of Prepayment Interest Shortfalls) with respect to such Distribution Date, and the rights of the Certificateholders Noteholders to the offset of the aggregate Prepayment Interest Shortfalls shall not be cumulative.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Bear Stearns Asset Backed Securities Inc), Sale and Servicing Agreement (Morgan Stanley Abs Capital I Inc)

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Adjustment of Servicing Compensation in Respect of Prepaid Mortgage Loans. The Monthly Servicing Fee that the Servicer shall be entitled to receive with respect to all of the each Mortgage Loans Loan and each Distribution Payment Date shall be offset on such Distribution Payment Date by an amount equal to the aggregate Prepayment Interest Shortfall with respect to all such Mortgage Loans which were subjects Loan to the extent that it is the subject of Principal Prepayments during the month preceding the month of such Distribution Payment Date. The amount of any offset against the Monthly Servicing Fee with respect to any Distribution Payment Date under this Section 5.17 7.17 shall be limited to the Monthly Servicing Fee otherwise payable to the Servicer (without adjustment on account of Prepayment Interest Shortfalls) with respect to such Distribution DateMortgage Loan, and the rights of the Certificateholders Noteholders to the offset of the aggregate Prepayment Interest Shortfalls against the Monthly Servicing Fee shall not be cumulative.

Appears in 1 contract

Samples: Sale and Servicing Agreement (American Business Financial Services Inc /De/)

Adjustment of Servicing Compensation in Respect of Prepaid Mortgage Loans. The Monthly Servicing Fee that the Servicer shall be entitled to receive with respect to all of the each Mortgage Loans Loan and each Distribution Payment Date shall be offset on such Distribution Payment Date by an amount equal to the aggregate Prepayment Interest Shortfall with respect to all such Mortgage Loans which were subjects Loan to the extent that it is the subject of Principal Prepayments during the month preceding the month of such Distribution Payment Date. The amount of any offset against the Monthly Servicing Fee with respect to any Distribution Payment Date under this Section 5.17 7.17 shall be limited to the Monthly Servicing Fee otherwise payable to the Servicer (without adjustment on account of Prepayment Interest Shortfalls) with respect to such Distribution DateMortgage Loan, and the rights of the Certificateholders Noteholder to the offset of the aggregate Prepayment Interest Shortfalls against the Monthly Servicing Fee shall not be cumulative.

Appears in 1 contract

Samples: Sale and Servicing Agreement (American Business Financial Services Inc /De/)

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