Prepayment Interest Shortfalls. Not later than the close of business on the Business Day preceding each Remittance Date, the Company shall from its own funds deposit in the Custodial Account an amount equal to the aggregate Prepayment Interest Shortfall, if any, existing in respect of the related Principal Prepayment Period.
Prepayment Interest Shortfalls. (a) Affiliated mortgage loans. CitiMortgage will deposit in the certificate account on the business day preceding each distribution day the aggregate prepayment interest shortfall on the affiliated mortgage loans for the preceding month provided that such deposit need not exceed the lesser of · the aggregate amount of the collected servicing fees on the affiliated mortgage loans for the month preceding such distribution day and · one-half the scheduled servicing fee on the affiliated mortgage loans for that month. Such deposit will not be considered to be a voluntary advance by CitiMortgage, and will not be reimbursable to CitiMortgage from the certificate account or otherwise.
(b) Third-party mortgage loans. Each third-party servicer will transfer to the certificate account on each determination date the aggregate amount required under the Guide to be paid by third-party servicers in respect of prepayment interest shortfalls on third-party mortgage loans for the preceding month.
(c) Each third-party servicer will deposit in the certificate account on the business day preceding each distribution day the aggregate prepayment interest shortfall on its third-party mortgage loans for the preceding month, provided that the aggregate of such deposits for all third-party loans for any distribution day will be reduced by any amounts paid by the third-party servicer under the preceding paragraph (b) on the preceding determination date.
Prepayment Interest Shortfalls. On or before noon (New York time) on each Servicer Remittance Date, the Servicer shall deposit in the Custodial Account, from its own funds, an amount equal to the aggregate amount of Prepayment Interest Shortfalls with respect to Prepayments in Full received during the related Due Period.
Prepayment Interest Shortfalls. The Servicer shall deposit into the Collection Account on or before 12:00 noon, New York time, on each Servicer Remittance Date an amount equal to the lesser of (i) the aggregate of the Prepayment Interest Shortfalls resulting from Principal Prepayments during the related Due Period and (ii) its aggregate Servicing Fee received in such Due Period.
Prepayment Interest Shortfalls. For any Mortgage Loan, Subservicer shall require Principal Prepayments to be made so as not to cause a Prepayment Interest Shortfall. If the mortgage loan documents of a related Mortgage Loan do not allow Subservicer to require Principal Prepayments (or condition acceptance of Principal Prepayments) on a date that will avoid a Prepayment Interest Shortfall ("Non-Mandatory Prepayment Date Mortgage Loan"), then Subservicer shall pay to Master Servicer on the date specified in Section 2.1(c)(iv) of this Agreement, in addition to all other amounts due for such Principal Prepayment, an amount payable by the Subservicer from its own funds without reimbursement therefor equal to any Prepayment Interest Shortfall that results from such Principal Prepayment; provided, however, that for all Principal Prepayments received during any Collection Period, the Subservicer shall in no event be required to remit an amount greater than the amount of the aggregate of the Subservicing Fees for such Collection Period.
Prepayment Interest Shortfalls. On or before noon Eastern Time on each Servicer Remittance Date, the Servicer shall deposit in the Custodial Account, from its own funds, an amount equal to the aggregate amount of Prepayment Interest Shortfalls with respect to Prepayments in Full received during the related Due Period.
Prepayment Interest Shortfalls. Prior to each Remittance Date, the Servicer shall either deposit in the Custodial Account from its own funds and without any right of reimbursement therefor, or leave on deposit in the Custodial Account to the extent not previously retained or withdrawn, a total amount equal to the aggregate of the Prepayment Interest Shortfalls for such Remittance Date; provided that the Servicer's obligations under this Section on any Remittance Date shall not be more than the total amount of Servicing Fee paid to or retained by the Servicer since the preceding Remittance Date.
Prepayment Interest Shortfalls. (A) If a Prepayment Interest Shortfall occurs in connection with the Beacon Seattle & DC Portfolio Trust Mortgage Loan with respect to any Distribution Date (unless incurred while the Beacon Seattle & DC Portfolio Trust Mortgage Loan is a Specially Serviced Mortgage Loan or Defaulted Mortgage Loan), then the Sub-Servicer shall pay to the Master Servicer (out of the Sub-Servicer's own funds without right of reimbursement therefor) a compensating interest payment in the amount of such Prepayment Interest Shortfall; provided, however, that the Sub-Servicer shall ------- not be required to pay such compensating interest payment in an amount in excess of the product of (1) the aggregate "compensating interest payment" that is required to be made for the applicable Distribution Date by the Master Servicer in connection with all mortgage loans serviced by the Master Servicer under the PSA and (2) the ratio of (a) the Prepayment Interest Shortfall occurring in connection with the Beacon Seattle & DC Portfolio Trust Mortgage Loan for such Distribution Date that is taken account of in the calculation of such compensating interest payment that is required to be made by the Master Servicer in connection with all mortgage loans serviced by the Master Servicer under the PSA to (b) the aggregate of the Prepayment Interest Shortfalls for such Distribution Date for all mortgage loans serviced by the Master Servicer under the PSA that are taken account of in the calculation of such compensation interest payment. Any payment required to be made by the Sub-Servicer as described above shall be remitted to the Master Servicer on the Sub-Servicer Remittance Date immediately preceding the related Distribution Date for which the applicable Prepayment Interest Shortfall arose. If any amounts similar to Prepayment Interest Shortfalls are required to be paid by a primary servicer of the Companion Loans to any Companion Holder under the terms of an Intercreditor Agreement, then the Sub-Servicer shall pay such amount to such Companion Holder as and when due under the terms of such Intercreditor Agreement. If the aggregate amount of all Prepayment Interest Excesses for any Distribution Date occurring in connection with all mortgage loans serviced by the Master Servicer under the PSA exceeds the aggregate amount of all Prepayment Interest Shortfalls for such Distribution Date occurring in connection with all mortgage loans serviced by the Master Servicer under the PSA, the Sub-Servicer s...
Prepayment Interest Shortfalls. (A) If a Prepayment Interest Shortfall occurs with respect to any Distribution Date (unless incurred with respect to the Mortgage Loans while they are Specially Serviced Mortgage Loans), then the Primary Servicer shall pay to the Master Servicer (out of the Primary Servicer's own funds without right of reimbursement therefor) the amount of such Prepayment Interest Shortfall; provided, however, that the Primary Servicer shall not be required to pay an amount in excess of the aggregate compensating interest payment that is required to be made for the applicable Distribution Date by the Master Servicer in connection with all mortgage loans serviced by the Master Servicer under the Pooling and Servicing Agreement. Any payment required to be made by the Primary Servicer as described above shall be remitted to the Master Servicer on the Primary Servicer Remittance Date immediately preceding the related Distribution Date for which the applicable Prepayment Interest Shortfall arose.
Prepayment Interest Shortfalls. AND EXCESSES 1. (A) FOR ANY MORTGAGE LOAN, PRIMARY SERVICER SHALL REQUIRE PRINCIPAL PREPAYMENTS TO BE MADE SO AS NOT TO CAUSE A PREPAYMENT INTEREST SHORTFALL. IF THE LOAN DOCUMENTS OF A RELATED MORTGAGE LOAN DO NOT ALLOW PRIMARY SERVICER TO REQUIRE PRINCIPAL PREPAYMENTS (OR CONDITION ACCEPTANCE OF PRINCIPAL PREPAYMENTS) ON A DATE THAT WILL AVOID A PREPAYMENT INTEREST SHORTFALL ("NON-MANDATORY PREPAYMENT DATE MORTGAGE LOAN"), THEN THE PRIMARY SERVICER SHALL PAY TO MASTER SERVICER ON THE DATE SPECIFIED IN SECTION 2.1(C)(IV) OF THIS AGREEMENT, IN ADDITION TO ALL OTHER AMOUNTS DUE FOR SUCH PRINCIPAL PREPAYMENT, AN AMOUNT PAYABLE BY THE PRIMARY SERVICER FROM ITS OWN FUNDS WITHOUT REIMBURSEMENT THEREFOR EQUAL TO ANY PREPAYMENT INTEREST SHORTFALL THAT RESULTS FROM SUCH PRINCIPAL PREPAYMENT (FOR THE AVOIDANCE OF DOUBT, NO SUCH REIMBURSEMENT SHALL BE REQUIRED WITH RESPECT TO ANY B NOTES); PROVIDED, HOWEVER, THAT FOR ALL PRINCIPAL PREPAYMENTS RECEIVED DURING ANY COLLECTION PERIOD WITH RESPECT TO NON-MANDATORY PREPAYMENT DATE MORTGAGE LOANS, THE PRIMARY SERVICER SHALL IN NO EVENT BE REQUIRED TO REMIT AN AMOUNT GREATER THAN THE AMOUNT OF THE PRIMARY SERVICING FEES FOR SUCH COLLECTION PERIOD, PLUS ANY INVESTMENT INCOME EARNED ON THE AMOUNT PREPAID PRIOR TO THE RELATED DISTRIBUTION DATE.
