Excess Yield. In the event that Seller has conveyed or advanced any “excess yield” to FNMA or FHLMC (whether pursuant to any Excess Servicing Rights Agreement or otherwise), Seller shall have no right to reimbursement in respect thereof from Purchaser.
Excess Yield. Notwithstanding any provisions to the contrary contained in this Agreement or any other Operative Agreement, Lessee shall not be required to pay, and the Lessor Parties shall not be permitted to collect, any amount of Lessor Yield in excess of the maximum amount of yield permitted by applicable Law (“Excess Yield”). If any Excess Yield is provided for or determined by a court of competent jurisdiction to have been provided for in this Agreement or in any other Operative Agreement, then, in such event: (1) the provisions of this subsection shall govern and control; (2) Lessee shall not be obligated to pay any Excess Yield; (3) any Excess Yield that the Lessor Parties may have received hereunder shall be, at the option of the Majority Secured Parties, (a) applied as a credit against the outstanding principal balance of the Obligations or accrued and unpaid Lessor Yield (not to exceed the maximum amount permitted by Law), (b) refunded to the payor thereof, or (c) any combination of the foregoing; (4) the yield rates provided for herein or in the other Operative Agreements shall be automatically reduced to the maximum lawful rate allowed from time to time under applicable Law, and this Agreement and the other Operative Agreements shall be deemed to have been and shall be reformed and modified to reflect such reduction; and (5) Lessee shall not have any action against the Agent or any Lessor Party for any damages arising out of the payment or collection of any Excess Yield (other than to enforce this Section 5A.10). 5A.11
Excess Yield. 40 Section 7.26 Subsequent Transfer of Mortgage Servicing Rights 40 Section 7.27 Joint Marketing 40 Section 7.28 Credit Enhancements 41 Section 7.29 Compensatory Fee Payment 41 ARTICLE VIII CONDITIONS PRECEDENT TO OBLIGATIONS OF PURCHASER 41 Section 8.01 Correctness of Representations and Warranties. 41 Section 8.02 Compliance with Conditions. 42 Section 8.03 No Actions. 42 Section 8.04 Consents. 42 Section 8.05 Tri-Party Agreements. 42 Section 8.06 Certificate of Seller. 42 Section 8.07 Delivery of Documents. 42 ARTICLE IX CONDITIONS PRECEDENT TO OBLIGATIONS OF SELLER 43 Section 9.01 Correctness of Representations and Warranties. 43
Excess Yield. In the event that Seller has conveyed or advanced any “excess yield” to any Agency (whether pursuant to any Excess Servicing Rights Agreement or otherwise), Seller shall have no right to reimbursement in respect thereof from Purchaser.
Excess Yield. Notwithstanding any other provisions of this Agreement, (i) the sale and delivery of the Loans to the Initial Purchaser is exclusive of the Excess Yield Holder's right, title and interest in, to, and under the Excess Yield and (ii) subject to Subsection 11.16 of the Servicing Addendum, the right of the Excess Yield Holder to the Excess Yield with respect to each Loan shall be absolute and unconditional, and shall survive any Event of Default by the Seller, any termination of the Seller as servicer hereunder and any other event. It is understood and intended, and is expressly covenanted by the Purchaser and the Seller as the Excess Yield Holder, each to the other, that neither the Excess Yield Holder nor the Purchaser shall have any right in any manner whatsoever by virtue of the provisions of this Agreement (i) to affect, disturb or prejudice the rights of the other, (ii) to seek to obtain priority over or preference to the other with respect to their respective interests in the Loans, except as provided in Subsection 11.16 of the Servicing Addendum, or (iii) to enforce any right under this Agreement, except in the manner herein provided and as the respective interests of the Purchaser and the Excess Yield Holder are provided for pursuant to this Agreement. The Excess Yield Holder and the Purchaser each agree to execute and deliver from time to time such other instruments and documents as may be reasonably requested by the other to further effectuate the provisions of this Subsection 6.04.
Excess Yield. 27 5A.11 Conversion and Continuation Options Respecting the Lessor Advances. ........................ 27 5A.12 Initial Benchmark Conforming Changes. ......................................................................... 28 5A.13 Illegality. ........................................................................................................................... 28 SECTION 6.
Excess Yield. With respect to any Person other than Xxxxxxxx and Xxxxxxx Xxx and, to the extent of the security interest set forth in Section 4.01, of Xxxxxx, no other Person has any interest in the Xxxxxxx Xxx Servicing Contract Rights, the Collateral or the Xxxxxxx Xxx Servicing Contract. Xxxxxx is not a third party beneficiary of the Xxxxxxx Xxx Servicing Contract.
