Compensation paid by the Borrower Sample Clauses

Compensation paid by the Borrower. Borrower-Paid Compensation is compensation paid by the borrower to Broker from the borrower's own funds. Borrower-Paid Compensation may include seller concessions. Borrower-Paid Compensation is directly negotiated between Broker and borrower and may vary with each application, provided that, once Borrower-Paid Compensation is agreed upon and determined between Broker and borrower, it may not change. RS will not be responsible nor a party to any Broker negotiations with borrowers in a Borrower-Paid Broker Compensation transaction. BY SELECTING TO BE PAID BY THE BORROWER, BROKER MAY NOT RECEIVE ANY COMPENSATION DIRECTLY OR INDIRECTLY FROM ANY OTHER PARTY OR ENTITY TO THE TRANSACTION, OR OUTSIDE OF THE TRANSACTION, INCLUDING FROM RS. RS limits compensation paid by the Borrower to a maximum of 3.00% of the loan amount. The broker may submit “Borrower-Paid Compensation” loan applications to RS with any compensation level up to the maximum allowed. Borrower-Paid Compensation is an agreement of compensation between the Broker and the Borrower and is agreed to prior to submitting the file to RS.
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
Compensation paid by the Borrower. Borrower-Paid Compensation is compensation paid by the borrower to Broker from the borrower's own funds. Borrower-Paid Compensation may include seller concessions. Borrower-Paid Compensation is directly negotiated between Broker and borrower and may vary with each application, provided that, once Borrower-Paid Compensation is agreed upon and determined between Broker and borrower, it may not change. CSC will not be responsible nor a party to any Broker negotiations with borrowers in a Borrower-Paid Broker Compensation transaction. BY SELECTING TO BE PAID BY THE BORROWER, BROKER MAY NOT RECEIVE ANY COMPENSATION DIRECTLY OR INDIRECTLY FROM ANY OTHER PARTY OR ENTITY TO THE TRANSACTION, OR OUTSIDE OF THE TRANSACTION, INCLUDING FROM CSC. CSC limits compensation paid by the Borrower to a maximum of 3.00% of the loan amount. The broker may submit “Borrower-Paid Compensation” loan applications to CSC with any compensation level up to the maximum allowed. Borrower-Paid Compensation is an agreement of compensation between the Broker and the Borrower, and is agreed to prior to submitting the file to CSC. Broker Application and Agreement 11/13/2017 b. Compensation paid by the Lender (CSC) Lender-Paid Compensation is Broker compensation paid by CSC to Broker. When Broker, for a given application, selects Lender-Paid Compensation, upon the funding of a mortgage loan resulting from the application, CSC will pay to Broker the product of (i) the Lender-Paid Compensation rate and (ii) the funded principal amount of the mortgage loan. Broker acknowledges that, if so selected, a Lender-Paid Compensation Tier cannot vary once a Loan Application is submitted. FOR LOAN APPLICATIONS WHERE BROKER HAS SELECTED LENDER-PAID COMPENSATION, BROKER MAY NOT RECEIVE ANY COMPENSATION FROM THE BORROWER OR ANY OTHER PARTY, PERSON OR ENTITY TO THE TRANSACTION, OR OUTSIDE OF THE TRANSACTION. BROKER CERTIFIES THAT WHEN COMPENSATION IS PAID BY LENDER SUCH AMOUNT IS AND WILL BE BROKER'S SOLE SOURCE OF RENUMERATION. For Loan Applications where Broker has selected Lender-Paid Compensation, Broker agrees that Broker cannot offer credits towards third party closing costs. Broker shall select one of the following “Lender-Paid Compensation” Tiers: □ Tier: 0.25% □ Tier: 0.50 % □ Tier: 0.75% □ Tier: 1.00% □ Tier: 1.25% □ Tier: 1.50% □ Tier: 1.75% □ Tier: 2.00 % □ Tier: 2.25% □ Tier: 2.50% □ Tier: 2.75% □ Tier: 3.00% □ Select loan by loan (Note: Please select your Broker Compensation tier carefully, as it ...
Sample 1

Related to Compensation paid by the Borrower

  • Show-Up Compensation An employee who is scheduled for work and reports for work, except for situations addressed in Article 63 - Inclement Conditions, and is released from work shall be paid the equivalent of two (2) hours pay at the appropriate rate. When an employee actually begins his/her scheduled shift, the employee shall be paid for the remainder of the scheduled shift. Part-time hourly paid employees, who actually begin their scheduled shift, shall be paid for the remainder of their scheduled shift.

  • Shift Differential Compensation Any employee in the bargaining unit whose assigned work shift commences (for unit-1) prior to 5:30 a.m. or whose work shift ends after 5:30 p.m., or (for unit-2 members) commences after 2:00 p.m. shall be paid a shift differential premium of five (5%) percent above the regular rate of pay for all hours worked.

  • Special Compensation The Company shall pay to the Executive a lump sum equal to three times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days after the Executive's termination of employment, unless the provisions of Section 3(e) below apply. The amount of the aggregate lump sum provided by this Section 3(c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.

  • Compensation for Reimbursable Expenses 11.8.1 Reimbursable Expenses are in addition to compensation for Basic, Supplemental, and Additional Services and include expenses incurred by the Architect and the Architect’s consultants directly related to the Project, as follows:

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Shift Differential Pay A. An employee shall receive additional compensation at the rate of seventy five cents (75¢) per hour for all hours worked on a shift when the majority of hours worked on the shift are between 5:30 p.m. and 7:30 a.m. and in locations where these classes are regularly assigned shift work.

  • Extra Compensation The Board shall pay no fees, other than described above, to the PA/E unless authorized by the Board as follows:

  • Compensation & Payment 8.4.1. Should the claim be found proven; settlement is executed only in the form of compensation payment added to the Client trade account.

  • No Compensation Except as provided in this Section 7.4 and elsewhere in this Agreement (including the provisions of Articles V and VI hereof regarding distributions, payments and allocations to which it may be entitled), the General Partner shall not be compensated for its services as general partner of the Partnership.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!