Common use of Compensation of the Owner Trustee Clause in Contracts

Compensation of the Owner Trustee. The Owner Trustee shall be entitled to receive as compensation for its services the amount of $_______ per annum, such amount to be payable: first, as provided in the Indenture; second, out of amounts on deposit in the Certificate Account that represent payments received in respect of the Mortgage Loans; and, third, to the extent not paid pursuant to either clause first or second of this sentence within 60 days of first becoming due, by the Certificateholders, on a joint and several basis.

Appears in 3 contracts

Samples: Deposit Trust Agreement (Criimi Mae CMBS Corp), Deposit Trust Agreement (Criimi Mae CMBS Corp), Deposit Trust Agreement (Imperial Credit Commercial Mortgage Acceptance Corp)

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Compensation of the Owner Trustee. The Owner Trustee shall be entitled to receive as compensation for its services the amount of $_______ per annumOwner Trustee Fee, such amount to be payable: first, as provided in the Indenture; second, out of amounts on deposit in the Certificate Account that represent payments received in respect of the Mortgage LoansPledged Securities; and, third, to the extent not paid pursuant to either clause first or second of this sentence within 60 days of first becoming due, by the Certificateholders, on a joint and several basis.

Appears in 1 contract

Samples: Deposit Trust Agreement (Criimi Mae Inc)

Compensation of the Owner Trustee. The Owner Trustee shall be entitled to receive as compensation for its services the amount of $_______ per annumOwner Trustee Fee, as has been separately agreed upon in writing between the Depositor and Owner Trustee, such amount to be payable: first, as provided in the Indenture; second, out of amounts on deposit in the Certificate Account that represent payments received in respect of the Mortgage Loans; and, thirdsecond, to the extent not paid pursuant to either clause first or second of this sentence within 60 days of first becoming due, by the Certificateholders, on a joint and several basisDepositor.

Appears in 1 contract

Samples: Deposit Trust Agreement (Collateralized Mortgage Bonds Series 1999 1)

Compensation of the Owner Trustee. The Owner Trustee shall be entitled to receive the Owner Trustee Fee as compensation for its services the amount of $_______ per annumservices, such amount to which fee shall be payable: first, as provided in the IndentureServicing Agreement; second, out of amounts on deposit in the Certificate Account that represent payments received in respect of the Mortgage Loans; and, third, to the extent not paid pursuant to either clause first or second of this sentence within 60 days of first becoming due, by the Certificateholders, on a joint and several basis.

Appears in 1 contract

Samples: Owner Trust Agreement (Imh Assets Corp Impac CMB Trust 1998 C1 Col Mor Bond 1998 C1)

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Compensation of the Owner Trustee. The Owner Trustee shall be entitled to receive as compensation for its services the amount of $_______ per annumOwner Trustee Fee, such amount to be payable: first, as provided in the Indenture; second, out of amounts on deposit in the Certificate Account that represent payments received in respect of the Mortgage LoansDaiwa FLOWS Certificates; and, third, to the extent not paid pursuant to either clause first "first" or second "second" of this sentence Section, within 60 days of first becoming due, by the Certificateholders, on a joint and several basis.

Appears in 1 contract

Samples: Trust Agreement (Commercial Assets Inc)

Compensation of the Owner Trustee. The Owner Trustee shall be entitled to receive as compensation for its services the amount of $_______ 4,000 per annum, such amount to be payable: first, as provided in the Indenture; second, out of amounts on deposit in the Certificate Account that represent payments received in respect of the Mortgage LoansPledged Certificates; and, third, to the extent not paid pursuant to either clause first or second of this sentence within 60 days of first becoming due, by the Certificateholders, on a joint and several basis.

Appears in 1 contract

Samples: Deposit Trust Agreement (Criimi Mae Inc)

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