Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls. In the event that the Servicer fails to perform on any Remittance Date its obligations pursuant to Section 3.25, the Master Servicer shall remit to the Trust Administrator not later than the Distribution Date an amount equal to the lesser of (i) the aggregate amounts required to be paid by the Servicer with respect to Prepayment Interest Shortfalls attributable to Principal Prepayments on the related Mortgage Loans for the related Distribution Date, and not so paid by the Servicer and (ii) the Master Servicing Fee for such Distribution Date, without reimbursement therefor.
Appears in 12 contracts
Samples: Pooling and Servicing Agreement (Fremont Mortgage Securities Corp), Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-D), Pooling and Servicing Agreement (Fremont Mortgage Securities Corp)
Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls. In the event that the Servicer fails to perform on any Remittance Determination Date its obligations pursuant to Section 3.253.14, the Master Servicer shall remit to the Trust Securities Administrator not later than the Distribution Payment Date an amount equal to the lesser of (i) the aggregate amounts required to be paid by the Servicer with respect to Prepayment Interest Shortfalls attributable to Principal Prepayments on the related Mortgage Loans for the related Distribution Payment Date, and not so paid by the Servicer and (ii) the Master Servicing Fee for such Distribution Payment Date, without reimbursement therefor.
Appears in 11 contracts
Samples: Servicing Agreement (Renaissance Home Equity Loan Trust 2006-2), Wells Fargo (Renaissance Home Equity Loan Trust 2006-4), Wells Fargo (Renaissance Home Equity Loan Trust 2006-1, Home Equity Loan Asset-Backed Notes, Series 2006-1)
Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls. In the event that the Servicer fails to perform on any Remittance Date its obligations pursuant to Section 3.25of a Prepayment Interest Shortfall, the Master Servicer shall remit to the Trust Administrator Trustee not later than the Distribution Date an amount equal to the lesser of (i) the aggregate amounts required to be paid by the Servicer with respect to Prepayment Interest Shortfalls attributable to Principal Prepayments on the related Mortgage Loans for the related Distribution Date, and not so paid by the Servicer and (ii) the Master Servicing Fee for such Distribution Date, without reimbursement therefor.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Ace Securities Corp), Pooling and Servicing Agreement (Financial Asset Sec Corp Fremont Home Loan Trust 2003 A), Pooling and Servicing Agreement (Ace Securities Corp)
Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls. In the event that the Servicer fails to perform on any Remittance Date its obligations pursuant to Section 3.255.02, the Master Servicer shall remit to the Trust Securities Administrator not later than the Distribution Date an amount equal to the lesser of (i) the aggregate amounts required to be paid by the Servicer with respect to Prepayment Interest Shortfalls attributable to Principal Prepayments on the related Mortgage Loans for the related Distribution Date, and not so paid by the Servicer and (ii) the Master Servicing Fee for such Distribution Date, without reimbursement therefor.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corporation, Alternative Loan Trust, Series 2005-S2), Pooling and Servicing Agreement (Nomura Asset Acceptance Corp), Pooling and Servicing Agreement (Nomura Asset Acceptance Corp)
Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls. In the event that the Servicer fails to perform on any Remittance Determination Date its obligations pursuant to Section 3.255.02, the Master Servicer shall remit to the Trust Securities Administrator not later than the Distribution Date an amount equal to the lesser of (i) the aggregate amounts required to be paid by the Servicer with respect to Prepayment Interest Shortfalls attributable to Principal Prepayments on the related Mortgage Loans for the related Distribution Date, and not so paid by the Servicer and (ii) the Master Servicing Fee for such Distribution Date, without reimbursement therefor.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Renaissance Home Equity Loan Trust 2004-4), Pooling and Servicing Agreement (Renaissance Home Equity Loan Trust 2007-3), Pooling and Servicing Agreement (Renaissance Home Equity Loan Trust 2007-3)
Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls. In the event that the Servicer fails to perform on any Remittance Date its obligations pursuant to Section 3.25of a Prepayment Interest Shortfall, the Master Servicer shall remit to the Trust Administrator not later than the Distribution Date an amount equal to the lesser of (i) the aggregate amounts required to be paid by the Servicer with respect to Prepayment Interest Shortfalls attributable to Principal Prepayments on the related Mortgage Loans for the related Distribution Date, and not so paid by the Servicer and (ii) the Master Servicing Fee for such Distribution Date, without reimbursement therefor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2003-B Asset Backed Certs)
Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls. In the event that the Servicer fails to perform on any Remittance Date its obligations pursuant to Section 3.25, the Master Servicer shall remit to the Trust Administrator not later than the Distribution Date an amount equal to the lesser of (i) the aggregate amounts required to be paid by the Servicer with respect to Prepayment Interest Shortfalls attributable to Principal Prepayments on the related Mortgage Loans for the related Distribution Date, and not so paid by the Servicer and (ii) the Master Servicing Fee for such Distribution Date, without reimbursement therefor.. 135
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Mortgage Securities Corp)
Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls. In the event that the Servicer fails to perform on any Remittance Date its obligations pursuant to Section 3.25, the Master Servicer shall remit to the Trust Administrator not later than the Distribution Date an amount equal to the lesser of (i) the aggregate amounts required to be Fremont 2005-B Pooling & Servicing Agreement paid by the Servicer with respect to Prepayment Interest Shortfalls attributable to Principal Prepayments on the related Mortgage Loans for the related Distribution Date, and not so paid by the Servicer and (ii) the Master Servicing Fee for such Distribution Date, without reimbursement therefor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Mortgage Securities Corp)
Obligation of the Master Servicer in Respect of Prepayment Interest Shortfalls. In the event that the Servicer fails to perform on any Remittance Date its obligations pursuant to Section 3.25, the Master Servicer shall remit to the Trust Administrator not later than the Distribution Date an amount equal to the lesser of (i) the aggregate amounts required to be 102 paid by the Servicer with respect to Prepayment Interest Shortfalls attributable to Principal Prepayments on the related Mortgage Loans for the related Distribution Date, and not so paid by the Servicer and (ii) the Master Servicing Fee for such Distribution Date, without reimbursement therefor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Mortgage Securities Corp)
