Payment to Seller of Base Servicing Fee. (a) Seller shall be entitled to payment of the Base Servicing Fee only to the extent funds are available therefor in the Third Party Controlled Future Spread Custodial Account in accordance with the Priority of Payments. Under no circumstances shall Purchaser be liable to Seller for payment of the Base Servicing Fee. In the event servicing of the Mortgage Loans is transferred to sub-servicers for any reason, the servicing fees and expenses of such sub-servicers shall be paid by Seller and in no event will the amount of Servicing Spread Collections or termination payments otherwise allocable to the Future Excess Servicing Spread be reduced due to the payment of sub-servicing fees and expenses. (b) The Base Servicing Fee with respect to a Mortgage Loan shall begin to accrue as of the Collection Period prior to the applicable Assignment Date. In no event shall Base Servicing Fees accrue concurrently on any day for a Refinanced Mortgage Loan and for a Mortgage Loan.
Appears in 33 contracts
Samples: Future Spread Agreement for Non Agency Mortgage Loans, Future Spread Agreement for Non Agency Mortgage Loans (Nationstar Mortgage Holdings Inc.), Future Spread Agreement for Non Agency Mortgage Loans (Nationstar Mortgage Holdings Inc.)
