Common use of Servicing and Master Servicing Compensation Clause in Contracts

Servicing and Master Servicing Compensation. (a) As compensation for its activities hereunder, the NAMC Master Servicer shall be entitled to receive the NAMC Master Servicing Fee from full payments of accrued interest on each NAMC Mortgage Loan and the PHH Master Servicer shall be entitled to receive the PHH Master Servicing Fee from full payments of accrued interest on each PHH Mortgage Loan, in each case subject to each Master Servicer's obligation to pay Compensating Interest Payments pursuant to Section 6.09. (b) Each Master Servicer may retain additional servicing compensation in the form of prepayment charges, if any, assumption fees, tax service fees, fees for statement of account or payoff, late payment charges, interest on amounts deposited in any Accounts or Permitted Investments of such amounts, or otherwise. Each Master Servicer is also entitled to receive Excess Liquidation Proceeds as additional servicing compensation. Each Master Servicer shall be required to pay all expenses it incurs in connection with servicing activities under this Agreement, including fees and expenses to Sub-Servicers, and shall not be entitled to reimbursement except as provided in this Agreement. Expenses to be paid by a Master Servicer under this Subsection 3.14(b) shall include payment of the expenses of the accountants retained pursuant to Section 3.16.

Servicing and Master Servicing Compensation. (a) As compensation for its activities hereunder, the NAMC CMC Master Servicer shall be entitled to receive the NAMC CMC Master Servicing Fee from full payments of accrued interest on each NAMC CMC Mortgage Loan and the PHH NBMC Master Servicer shall be entitled to receive the PHH NBMC Master Servicing Fee from full payments of accrued interest on each PHH NBMC Mortgage Loan, in each case subject to each Master Servicer's obligation to pay Compensating Interest Payments pursuant to Section 6.09. (b) Each Master Servicer may retain additional servicing compensation in the form of prepayment charges, if any, assumption fees, tax service fees, fees for statement of account or payoff, late payment charges, interest on amounts deposited in any Accounts or Permitted Investments of such amounts, or otherwise. Each Master Servicer is also entitled to receive Excess Liquidation Proceeds as additional servicing compensation. Each Master Servicer shall be required to pay all expenses it incurs in connection with servicing activities under this Agreement, including fees and expenses to Sub-Servicers, and shall not be entitled to reimbursement except as provided in this Agreement. Expenses to be paid by a Master Servicer under this Subsection 3.14(b) shall include payment of the expenses of the accountants retained pursuant to Section 3.16.

Servicing and Master Servicing Compensation. (a) As compensation for its activities hereunder, the NAMC CMC Master Servicer shall be entitled to receive the NAMC CMC Master Servicing Fee from full payments of accrued interest on each NAMC CMC Mortgage Loan and the PHH IndyMac Master Servicer shall be entitled to receive the PHH IndyMac Master Servicing Fee from full payments of accrued interest on each PHH IndyMac Mortgage Loan, in each case subject to each Master Servicer's obligation to pay Compensating Interest Payments pursuant to Section 6.096.07. (b) Each Master Servicer may retain additional servicing compensation in the form of prepayment charges, if any, assumption fees, tax service fees, fees for statement of account or payoff, late payment charges, interest on amounts deposited in any Accounts or Permitted Investments of such amounts, or otherwise. Each Master Servicer is also entitled to receive Excess Liquidation Proceeds as additional servicing compensation. Each Master Servicer shall be required to pay all expenses it incurs in connection with servicing activities under this Agreement, including fees and expenses to Sub-Servicers, and shall not be entitled to reimbursement except as provided in this Agreement. Expenses to be paid by a Master Servicer under this Subsection 3.14(b) shall include payment of the expenses of the accountants retained pursuant to Section 3.16.