Compensating Interest; Repurchase of Home Equity Loans. (a) If any Prepayment in full of a Home Equity Loan occurs during any calendar month, any shortfall between (x) the interest collected from the Mortgagor in connection with such payoff, and (y) the full month’s interest at the Coupon Rate that would be due on the related Due Date for such Home Equity Loan (“Compensating Interest”) (but not in excess of the aggregate Servicing Fee for the related Remittance Period) shall be deposited by the Servicer to the Principal and Interest Account (or if such difference is an excess, the Servicer shall retain such excess) on the next succeeding Monthly Remittance Date and shall be included in the Monthly Remittance Amount to be made available to the Trustee on such Monthly Remittance Date. The Servicer may recover any unreimbursed payments of Compensating Interest from collections on any Home Equity Loan on deposit in the Principal and Interest Account, as provided in Section 7.03(b) clause C.17.
Compensating Interest; Repurchase of Home Equity Loans. (a) If a Prepayment in full of a Home Equity Loan or a Prepayment of at least six times a Mortgagor's Monthly Payment occurs during any calendar month, any difference between (x) the interest collected from the Mortgagor in connection with such payoff, and (y) the full month's interest at the Coupon Rate that would be due on the related Due Date for such Home Equity Loan ("Compensating Interest") (but not in excess of the aggregate Servicing Fee for the related Remittance Period) shall be deposited by the Servicer to the Principal and Interest Account (or if such difference is an excess, the Servicer shall retain such excess) on the next succeeding Monthly Remittance Date and shall be included in the Monthly Remittance Amount to be made available to the Trustee on such Monthly Remittance Date.
Compensating Interest; Repurchase of Home Equity Loans. (a) If a Prepayment of a Home Equity Loan occurs during any calendar month or if the amount received with respect to a date-of-payment or simple interest Home Equity Loan represents less than a full month's interest, any difference between the interest collected from the Mortgagor and the full month's interest at the Coupon Rate less the Servicing Fee ("Compensating Interest") that is due shall be deposited by the Servicer (but not in excess of the aggregate Servicing Fee for the related Remittance Period) to the Principal and Interest Account on the next succeeding Monthly Remittance Date and shall be included in the Monthly Remittance to be made available to the Trustee on such Monthly Remittance Date.
Compensating Interest; Repurchase of Home Equity Loans. (a) If any Prepayment in full of a Home Equity Loan occurs during any calendar month, any shortfall between (x) the interest collected from the Mortgagor in connection with such payoff, and (y) the full month’s interest at the Coupon Rate that would be due on the related Due Date for such Home Equity Loan (“Compensating Interest”) (but not in excess of the aggregate Servicing Fee for the related Remittance Period) shall be deposited by the Servicer to the Principal and Interest Account (or if such difference is an excess, the Servicer shall retain such excess) on the next succeeding Monthly Remittance Date and shall be included in the Monthly Remittance Amount to be made available to the Trustee on such Monthly Remittance Date.
Compensating Interest; Repurchase of Home Equity Loans. (a) If a Prepayment in full of a Home Equity Loan or a Prepayment of at least six times a Mortgagor's Monthly Payment occurs during any calendar month, any shortfall between (x) the interest collected from the Mortgagor in connection with such payoff, and (y) the full months interest at the Coupon Rate that would be due on the related Due Date for such Home Equity Loan ("Compensating Interest") (but not in excess of the aggregate Servicing Fee for the related Remittance Period) shall be deposited by the Servicer to the Principal and Interest Account (or if such difference is an excess, the Servicer shall retain such excess) on the next succeeding Monthly Remittance Date and shall be included in the Monthly Remittance Amount to be made available to the Trustee on such Monthly Remittance Date. The Servicer may recover any unreimbursed payments of Compensating Interest as provided in Section 7.03(b)(iii)(F).
Compensating Interest; Repurchase of Home Equity Loans. (a) Prepayment of a Home Equity Loan occurs during any calendar month or if the amount received with respect to a date-of-payment or simple interest Home Equity Loan represents less than a full month's interest, any difference between the interest collected from the Mortgagor and the full month's interest at the Coupon Rate less the Servicing Fee (exclusive of any portion used to pay any Back-Up Servicer Fee ("Compensating Interest") that is due shall be deposited by the Servicer (but not in excess of the aggregate Servicing Fee (exclusive of any portion used to pay any Back-Up Servicer Fee) for the related Remittance Period) to the Principal and Interest Account on the next succeeding Monthly Remittance Date and shall be included in the Monthly Remittance to be made available to the Trustee on such Monthly Remittance Date. The Servicer shall not be entitled to reimbursement for amounts paid as Compensating Interest.
Compensating Interest; Repurchase of Home Equity Loans. (a) If any Prepayment of a Home Equity Loan occurs during any calendar month, any shortfall between (x) the interest collected from the Mortgagor in connection with such payoff, and (y) the full month's interest at the Coupon Rate that would be due on the related Due Date for such Home Equity Loan ("Compensating Interest") (but not in excess of the aggregate Servicing Fee for the related Remittance Period) shall be deposited by the Servicer to the Principal and Interest Account (or if such difference is an excess, the Servicer shall retain such excess) on the next succeeding Monthly Remittance Date and shall be included in the Monthly Remittance Amount to be made available to the Trustee on such Monthly Remittance Date. The Servicer may recover any unreimbursed payments of Compensating Interest as provided in Section 7.03(b)(xi).
Compensating Interest; Repurchase of Home Equity Loans. (a) If a Prepayment in full of a Home Equity Loan or a Prepayment of at least six times a Mortgagor's Monthly Payment occurs during any calendar month, any difference between (x) the interest collected from the Mortgagor in connection with such payoff, and (y) the full month's interest at the Coupon Rate that would be due on the related Due Date for such Home Equity Loan ("Compensating Interest") (but not in excess of the aggregate Servicing Fee for the related Remittance Period) shall be deposited by the Servicer to the Principal and Interest Account (or if such difference is an excess, the Servicer shall retain
Compensating Interest; Repurchase of Home Equity Loans. (a) If a Prepayment in full of a Home Equity Loan occurs during any calendar month, any shortfall between (x) the interest collected from the Mortgagor in connection with such payoff, and (y) the full months interest at the Coupon Rate (net of the Servicing Fee) that would be due on the related Due Date for such Home Equity Loan ("Compensating Interest") (but not in excess of the aggregate Servicing Fee for the related Due Period) shall be deposited by the Servicer from its own funds to the Principal and Interest Account (or if such difference is an excess, the Servicer shall retain such excess) on the next succeeding Monthly Remittance Date and shall be included in the Monthly Remittance Amount to be made available to the Trustee on such Monthly Remittance Date.
Compensating Interest; Repurchase of Home Equity Loans. If Prepayment of a Home Equity Loan occurs during any calendar month and if the amount received in connection therewith represents less than a full month's interest, any difference between the interest collected from the Mortgagor and the full month's interest at the Coupon Rate less the Servicing Fee ("Compensating Interest") that is due shall be deposited by the Servicer (but not in excess of the aggregate Servicing Fee for the related Remittance Period) to the Principal and Interest Account on the next succeeding Monthly Remittance Date and shall be included in the Monthly Remittance to be made available to the Trustee on such Monthly Remittance Date. The Servicer shall not be entitled to reimbursement for amounts paid as Compensating Interest. The Servicer, and in the absence of exercise thereof by the Servicer, the Certificate Insurer, has the right and the option, but not the obligation, for administrative convenience, to purchase for its own account any Home Equity Loan which becomes Delinquent, in whole or in part, as to four consecutive monthly installments or any Home Equity Loan as to which enforcement proceedings have been brought by the Servicer pursuant to Section 8.13; provided, however, that the Servicer or the Certificate Insurer, as the case may be, may not purchase any such Home Equity Loan unless the Servicer or the Certificate Insurer, as the case may be, has delivered to the Trustee an opinion of counsel experienced in federal income tax matters acceptable to the Trustee and the Certificate Insurer to the effect that such a purchase would not constitute a Prohibited Transaction for the Trust or otherwise subject the Trust to tax and would not jeopardize the status any REMIC therein as a REMIC. Any such Loan so purchased shall be purchased by the Servicer or the Certificate Insurer, as the case may be, on a Monthly Remittance Date at a purchase price equal to the Loan Purchase Price thereof, which purchase price shall be deposited in the Principal and Interest Account. The Net Liquidation Proceeds from the disposition of any REO Property shall be deposited in the Principal and Interest Account and remitted to the Trustee as part of the Daily Collections remitted by the Servicer to the Trustee.
