Master Servicer Compensating Interest Payments. The amount of the aggregate Master Servicing Fees payable to the Master Servicer in respect of any Distribution Date shall be reduced (but not below zero) by the amount of any Master Servicer Compensating Interest Payment for such Distribution Date. Such amount shall not be treated as an Advance and shall not be reimbursable to the Master Servicer.
Appears in 45 contracts
Samples: Pooling and Servicing Agreement (Five Oaks Investment Corp.), Pooling and Servicing Agreement (Five Oaks Investment Corp.), Pooling and Servicing Agreement (Sequoia Mortgage Trust 2013-7)
Master Servicer Compensating Interest Payments. The amount of the aggregate Master Servicing Fees Fee payable to the Master Servicer in respect of any Distribution Date shall be reduced (but not below zero) by the amount of any Master Servicer Compensating Interest Payment for such Distribution Date; provided, however, that the Master Servicing Fee shall be reduced if and to the extent that the Servicing Administrator had an obligation to reduce the Servicing Fee by such amount and failed to do so pursuant to the applicable Servicing Agreement. Such amount shall not be treated as an Advance and shall not be reimbursable to the Master Servicer.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Sequoia Residential Funding Inc), Pooling and Servicing Agreement (Sequoia Residential Funding Inc)
Master Servicer Compensating Interest Payments. The amount of the aggregate Master Servicing Fees Fee payable to the Master Servicer in respect of any Distribution Date shall be reduced (but not below zero) by the amount of any Master Servicer Compensating Interest Payment for such Distribution Date; provided, however, that the Master Servicing Fee shall be reduced if and to the extent that a Servicer or the Servicing Administrator had an obligation to reduce its Servicing Fee by such amount and failed to do so pursuant to the related Servicing Agreement. Such amount shall not be treated as an Advance and shall not be reimbursable to the Master Servicer.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Sequoia Mortgage Trust 2013-8), Pooling and Servicing Agreement (Sequoia Mortgage Trust 2013-8)
Master Servicer Compensating Interest Payments. The amount of the aggregate Master Servicing Fees Fee payable to the Master Servicer in respect of any Distribution Date shall be reduced (but not below zero) by the amount of any Master Servicer Compensating Interest Payment for such Distribution Date. Such amount shall not be treated as an Advance and shall not be reimbursable to the Master Servicer.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Five Oaks Investment Corp.)
