LATE CHARGES; PREPAYMENT FEES OR OTHER CHARGES. To the extent permitted by law, the Pooling and Servicing Agreement and the terms of any Asset, the Servicer may collect and retain as additional compensation any late charges, extension fees or similar fees provided for in the Asset. To the extent reasonable and permitted by the terms of any Asset and by law, the Servicer may collect from the Obligors, and retain as additional compensation, prepayment fees, assumption fees or any fees imposed in connection with the replacement by such Obligor of the related Standard Hazard Insurance Policy. Notwithstanding any other provisions of the Pooling and Servicing Agreement, the Servicer shall not charge or impose upon any Obligor, nor seek to charge or impose upon any Obligor, or assert a right to receive from any Obligor, any fee, charge, premium or penalty that, if charged or collected, would violate or contravene any law, including usury laws, or the terms of the related Asset.
Appears in 12 contracts
Samples: Pooling and Servicing Agreement (Bombardier Capital Mortgage Securitization Corp), Pooling and Servicing Agreement (Oakwood Mortgage Investors Inc), Pooling and Servicing Agreement (Bombardier Capital Mortgage Securitization Corp)
