Common use of Compensation to the Master Servicer Clause in Contracts

Compensation to the Master Servicer. As compensation for its services hereunder, the Master Servicer shall be entitled to retain all income and gain realized from any investment of funds in the Collection Account pursuant to Section 5.07(e) and the Master Servicing Fee (together, the “Master Servicing Compensation”). Notwithstanding the foregoing, the Master Servicer shall deposit in the Collection Account, on or before the related Payment Date, an amount equal to the lesser of (i) its master servicing compensation with respect to such Payment Date and (ii) the amount of any Compensating Interest Payment required to be paid by the Servicer with respect to such Payment Date pursuant to this Agreement, but which is not paid by the Servicer or by the Subservicer on its behalf. The Master Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder and shall not be entitled to reimbursement therefor except as provided in this Agreement.

Appears in 5 contracts

Samples: Transfer and Servicing Agreement (Fieldstone Mortgage Investment Trust, Series 2006-2), Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP), Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP)

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Compensation to the Master Servicer. As compensation for its services hereunder, the Master Servicer shall be entitled to retain all income and gain realized from any investment of funds in the Collection Account pursuant to Section 5.07(e) and the Master Servicing Fee (together, the “Master Servicing Compensation”). Notwithstanding the foregoing, the Master Servicer shall deposit in the Collection Account, on or before the related Payment Date, an amount equal to the lesser of (i) its master servicing compensation with respect to such Payment Date and (ii) the amount of any Compensating Interest Payment required to be paid by the Servicer with respect to such Payment Date pursuant to this Agreement, but which is not paid by the Servicer or by the Subservicer on its behalfServicer. The Master Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder and shall not be entitled to reimbursement therefor except as provided in this Agreement.

Appears in 2 contracts

Samples: Transfer and Servicing Agreement (SunTrust Mortgage Securitization, LLC), Transfer and Servicing Agreement (New York Mortgage Trust 2005-3)

Compensation to the Master Servicer. As compensation for its services hereunder, the Master Servicer shall be entitled to retain all income and gain realized from any investment of funds in the Collection Account pursuant to Section 5.07(e) and the Master Servicing Fee (together, the "Master Servicing Compensation"). Notwithstanding the foregoing, the Master Servicer shall deposit in the Collection Account, on or before the related Payment Date, an amount equal to the lesser of (i) its master servicing compensation with respect to such Payment Date and (ii) the amount of any Compensating Interest Payment required to be paid by the Servicer with respect to such Payment Date pursuant to this Agreement, but which is not paid by the Servicer or by the Subservicer on its behalf. The Master Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder and shall not be entitled to reimbursement therefor except as provided in this Agreement.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (Fieldstone Mortgage Investment CORP)

Compensation to the Master Servicer. As compensation for its services hereunderPursuant to Section 7.5, the Master Servicer shall will be entitled to retain the Master Servicer Fee on each Payment Date after the Master Servicer has paid the Indenture Trustee Fee due on such Payment Date. Pursuant to Section 7.4(e), all income and gain realized from any investment of funds in the Collection Account pursuant to Section 5.07(e) and shall be for the benefit of the Master Servicing Fee (together, the “Master Servicing Compensation”)Servicer as compensation. Notwithstanding the foregoing, the Master Servicer shall deposit in the Collection Account, on or before the related Payment Date, an amount equal to the lesser of (ia) its master servicing compensation with respect to such Payment Date and (iib) the amount of any Compensating Interest Payment required to be paid by the Servicer with respect to such Payment Date pursuant to this Agreement, but which is not paid by the Servicer or by the Subservicer on its behalfServicer. The Master Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder and shall not be entitled to reimbursement therefor except as provided in this Agreement.

Appears in 1 contract

Samples: Transfer and Servicing Agreement (First NLC Securitization, Inc.)

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Compensation to the Master Servicer. As compensation for its services hereunder, the Master Servicer shall be entitled to receive its Master Servicer Fees and retain all income and gain realized from any investment of funds in the Collection Account pursuant to Section 5.07(e5.06(e) and the Master Servicing Fee (together, the “Master Servicing Compensation”). Notwithstanding the foregoing, the Master Servicer shall deposit in the Collection Account, on or before the related Payment Distribution Date, an amount equal to the lesser of (i) its master servicing compensation Master Servicing Fees with respect to such Payment Distribution Date and (ii) the amount of any Compensating Interest Payment required to be paid by the Servicer Servicers with respect to such Payment Distribution Date pursuant to this Agreement, but which is not paid by the Servicer or by the Subservicer on its behalfServicers. The Master Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder and shall not be entitled to reimbursement therefor except as provided in this Agreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (NYMT Securities CORP)

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