Common use of SERVICING COMPENSATION; ADVANCES AND EXPENSES Clause in Contracts

SERVICING COMPENSATION; ADVANCES AND EXPENSES. (a) As compensation for its services hereunder, each Servicer shall be paid the Servicing Fee with respect to the Loans for which it is responsible for servicing. Such Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall be entitled to reimbursement thereof as described below. The Servicing Fee shall be paid to such Servicer and Servicing Expenses reimbursed to such Servicer pursuant to Section 6.4 of the Indenture. (a) All reasonable and customary "out-of-pocket" costs and expenses incurred in the performance by such Servicer of its servicing obligations hereunder ("Servicing Expenses") shall constitute routine servicing responsibilities of such Servicer, which shall include, but are not limited to, expenditures for the following, subject to the provisions of this Agreement, (i) attorneys' fees, trustee fees under any deed of trust, recording, filing and publication fees, title report and title search costs, costs associated with environmental audits, court costs, witness fees and all other costs incurred in respect of any enforcement of a Loan, any judicial foreclosure, or any foreclosure sale, trustee's sale or acquisition in lieu of foreclosure, or in respect of the insurance, sale or other disposition of any Mortgaged Property or REO Property; (ii) repair, restoration, maintenance or other protection of any Mortgaged Property (whether incurred before or after such property became an REO Property) in accordance with and subject to the provisions of this Agreement, as applicable; provided, however, to the extent any Servicing Expense to be incurred for repair, restoration, maintenance or other protection of any Mortgaged Property would exceed fifty percent (50%) of the then outstanding principal balance of the Loan, the applicable Servicer must obtain the prior written consent of the Required Noteholders prior to incurring such Servicing Expense, and (iii) compliance with such Servicer's obligations under Section 3.5 hereof. Servicing Expenses shall not include any portion of such Servicer's overhead or normal salary and operating expenses.

SERVICING COMPENSATION; ADVANCES AND EXPENSES. (a) As compensation for its services hereunder, each the Servicer shall be paid the Servicing Fee with respect to the Loans for which it is responsible for servicingFee. Such The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall be entitled to reimbursement thereof as described below. The Servicing Fee shall be paid to such the Servicer and Servicing Expenses reimbursed to such the Servicer pursuant to Section 6.4 of the Indenture. (ab) All reasonable and customary "out-of-pocket" costs and expenses incurred in the performance by such the Servicer of its servicing obligations hereunder ("Servicing Expenses") shall constitute routine servicing responsibilities of such the Servicer, which shall include, but are not limited to, expenditures for the following, subject to the provisions of this Agreement, (i) attorneys' fees, trustee fees under any deed of trust, recording, filing and publication fees, title report and title search costs, costs associated with environmental audits, court costs, witness fees and all other costs incurred in respect of any enforcement of a Loan, any judicial foreclosure, or any foreclosure sale, trustee's sale or acquisition in lieu of foreclosure, or in respect of the insurance, sale or other disposition of any Mortgaged Property or REO Property; (ii) repair, restoration, maintenance or other protection of any Mortgaged Property (whether incurred before or after such property became an REO Property) in accordance with and subject to the provisions of this Agreement, as applicable; provided, however, to the extent any Servicing Expense to be incurred for repair, restoration, maintenance or other protection of any Mortgaged Property would exceed fifty percent (50%) of the then outstanding principal balance of the Loan, the applicable Servicer must obtain the prior written consent of the Required Noteholders prior to incurring such Servicing Expense, and (iii) compliance with such the Servicer's obligations under Section 3.5 hereof. Servicing Expenses shall not include any portion of such the Servicer's overhead or normal salary and operating expenses.

SERVICING COMPENSATION; ADVANCES AND EXPENSES. (a) As compensation for its services hereunder, each the Servicer shall be paid the Servicing Fee with respect to the Loans for which it is responsible for servicingFee. Such The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall be entitled to reimbursement thereof as described below. The Servicing Fee shall be paid to such the Servicer and Servicing Expenses reimbursed to such the Servicer pursuant to Section 6.4 of the Indenture. (ab) All reasonable and customary "out-of-pocket" costs and expenses incurred in the performance by such the Servicer of its servicing obligations hereunder ("Servicing Expenses") shall constitute routine servicing responsibilities of such the Servicer, which shall include, but are not limited to, expenditures for the following, subject to the provisions of this Agreement, (i) attorneys' fees, trustee fees under any deed of trust, recording, filing and publication fees, title report and title search costs, costs associated with environmental audits, court costs, witness fees and all other costs incurred in respect of any enforcement of a Loan, any judicial foreclosure, or any foreclosure sale, trustee's sale or acquisition in lieu of foreclosure, or in respect of the insurance, sale or other disposition of any Mortgaged Property or REO Property; (ii) repair, restoration, maintenance or other protection of any Mortgaged Property (whether incurred before or after such property became an REO Property) in accordance with and subject to the provisions of this Agreement, as applicable; provided, however, to the extent any Servicing Expense to be incurred for repair, restoration, maintenance or other protection of any Mortgaged Property would exceed fifty percent (50%) of the then outstanding principal balance of the Loan, the applicable Servicer must obtain the prior written consent of the Required Noteholders prior to incurring such Servicing Expense, and (iii) compliance with such the Servicer's obligations under Section 3.5 hereof. Servicing Expenses shall not include any portion of such the Servicer's overhead or normal salary and operating expenses. (c) Not later than the close of business on each Determination Date, with respect to each Loan for which a Principal Prepayment was received during the related Collection Period, the Issuer shall remit to the Trustee for deposit into the Collection Account, an amount ("Compensating Interest") equal to any excess of (a) 30 days' interest at the then applicable Class A or Class B Remittance Rate, as the case may be, on the related principal balance over (b) that portion of the amount of interest actually received with respect to such principal balance during such Collection Period and available to be paid to the Noteholders. Such Compensating Interest shall be net of amounts payable to the Noteholders and the Servicing Fee.

SERVICING COMPENSATION; ADVANCES AND EXPENSES. (a) As compensation for its services hereunder, each such Servicer shall be paid the Servicing Fee with respect to the Loans for which it is responsible for servicing. Such Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall be entitled to reimbursement thereof as described below. The Servicing Fee shall be paid to such Servicer and Servicing Expenses reimbursed to such Servicer pursuant to Section 6.4 of the Indenture. (ab) All reasonable and customary "out-of-pocket" costs and expenses incurred in the performance by such Servicer of its servicing obligations hereunder ("Servicing Expenses") shall constitute routine servicing responsibilities of such Servicer, which shall include, but are not limited to, expenditures for the following, subject to the provisions of this Agreement, (i) attorneys' fees, trustee fees under any deed of trust, recording, filing and publication fees, title report and title search costs, costs associated with environmental audits, court costs, witness fees and all other costs incurred in respect of any enforcement of a Loan, any judicial foreclosure, or any foreclosure sale, trustee's sale or acquisition in lieu of foreclosure, or in respect of the insurance, sale or other disposition of any Mortgaged Property or REO Property; (ii) repair, restoration, maintenance or other protection of any Mortgaged Property (whether incurred before or after such property became an REO Property) in accordance with and subject to the provisions of this Agreement, as applicable; provided, however, to the extent any Servicing Expense to be incurred for repair, restoration, maintenance or other protection of any Mortgaged Property would exceed fifty percent (50%) of the then outstanding principal balance of the Loan, the applicable Servicer must obtain the prior written consent of the Required Noteholders prior to incurring such Servicing Expense, and (iii) compliance with such Servicer's obligations under Section 3.5 hereof. Servicing Expenses shall not include any portion of such Servicer's overhead or normal salary and operating expenses.

SERVICING COMPENSATION; ADVANCES AND EXPENSES. (a) As compensation for its services hereunder, each the Servicer shall be paid the Servicing Fee with respect to the Loans for which it is responsible for servicingbeing serviced under this Agreement. Such The Servicer shall be required to pay all expenses Servicing Expenses incurred by it in connection with its servicing activities hereunder and shall be entitled to reimbursement thereof therefor as described belowin Section 3.8(b). The Servicing Fee shall be paid to such the Servicer and Servicing Expenses reimbursed to such Servicer pursuant to monthly on each Settlement Date in accordance with Section 6.4 2.2(c) of the IndentureCredit Agreement. (ab) All reasonable and customary "out-of-pocket" costs and expenses incurred in the performance by such the Servicer of its servicing obligations hereunder ("Servicing Expenses") shall constitute routine servicing responsibilities of such the Servicer, which shall include, but are not limited to, expenditures for the following, subject to the provisions of this Agreement, : (i) attorneys' fees, trustee fees under any deed of trust, recording, filing and publication fees, title report and title search costs, costs associated with environmental audits, court costs, witness fees and all other costs incurred in respect of any enforcement of a Loan, any judicial foreclosure, or any foreclosure sale, trustee's sale or acquisition in lieu of foreclosure, or in respect of the insurance, sale or other disposition of any Mortgaged Property or REO Property; (ii) repair, restoration, maintenance or other protection of any Mortgaged Property (whether incurred before or after such property became an REO Property) in accordance with and subject to the provisions of this Agreement, as applicable; provided, however, to the extent any Servicing Expense to be incurred for repair, restoration, maintenance or other protection of any Mortgaged Property would exceed fifty percent (50%) of the then outstanding principal balance of the Loan, the applicable Servicer must obtain the prior written consent of the Required Noteholders prior to incurring such Servicing Expense, and (iii) compliance with such the Servicer's obligations under Section 3.5 hereof; provided, that the Servicer shall not be obligated to incur such Servicing Expenses if it has determined in good faith that such Servicing Expenses will not ultimately be recoverable from the related Obligor, from the related Liquidation Proceeds or otherwise from proceeds or collections on the related Loan. Servicing Expenses shall not include any portion of such the Servicer's overhead or normal salary and operating expenses. The Servicer shall be entitled to be reimbursed for Servicing Expenses (i) incurred in connection with foreclosure pursuant to Section 4.3; (ii) out of the Collections paid by any Obligor which, under the terms of the related Loan, are specifically allocable to such expenses; and (iii) otherwise out of any available funds otherwise released to the Borrower under Section 2.2(c)(viii) of the Credit Agreement.

SERVICING COMPENSATION; ADVANCES AND EXPENSES. (a) As compensation for its services hereunder, each Servicer shall be paid the Servicing Fee with respect to the Loans for which it is responsible for servicing. Such Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall be entitled to reimbursement thereof as described below. The Servicing Fee shall be paid to such Servicer and Servicing Expenses reimbursed to such Servicer pursuant to Section 6.4 of the Indenture. (ab) All reasonable and customary "out-of-pocket" costs and expenses incurred in the performance by such Servicer of its servicing obligations hereunder ("Servicing Expenses") shall constitute routine servicing responsibilities of such Servicer, which shall include, but are not limited to, expenditures for the following, subject to the provisions of this Agreement, (i) attorneys' fees, trustee fees under any deed of trust, recording, filing and publication fees, title report and title search costs, costs associated with environmental audits, court costs, witness fees and all other costs incurred in respect of any enforcement of a Loan, any judicial foreclosure, or any foreclosure sale, trustee's sale or acquisition in lieu of foreclosure, or in respect of the insurance, sale or other disposition of any Mortgaged Property or REO Property; (ii) repair, restoration, maintenance or other protection of any Mortgaged Property (whether incurred before or after such property became an REO Property) in accordance with and subject to the provisions of this Agreement, as applicable; provided, however, to the extent any Servicing Expense to be incurred for repair, restoration, maintenance or other protection of any Mortgaged Property would exceed fifty percent (50%) of the then outstanding principal balance of the Loan, the applicable Servicer must obtain the prior written consent of the Required Noteholders prior to incurring such Servicing Expense, and (iii) compliance with such Servicer's obligations under Section 3.5 hereof. Servicing Expenses shall not include any portion of such Servicer's overhead or normal salary and operating expenses.

SERVICING COMPENSATION; ADVANCES AND EXPENSES. (a) As compensation for its services hereunder, each Servicer shall be paid the Servicing Fee with respect to the Loans for which it is responsible for servicing. Such Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall be entitled to reimbursement thereof as described below. The Servicing Fee shall be paid to such Servicer and Servicing Expenses reimbursed to such Servicer pursuant to Section 6.4 of the Indenture. (a) All reasonable and customary "out-of-pocket" costs and expenses incurred in the performance by such Servicer of its servicing obligations hereunder ("Servicing ExpensesSERVICING EXPENSES") shall constitute routine servicing responsibilities of such Servicer, which shall include, but are not limited to, expenditures for the following, subject to the provisions of this Agreement, (i) attorneys' fees, trustee fees under any deed of trust, recording, filing and publication fees, title report and title search costs, costs associated with environmental audits, court costs, witness fees and all other costs incurred in respect of any enforcement of a Loan, any judicial foreclosure, or any foreclosure sale, trustee's sale or acquisition in lieu of foreclosure, or in respect of the insurance, sale or other disposition of any Mortgaged Property or REO Property; (ii) repair, restoration, maintenance or other protection of any Mortgaged Property (whether incurred before or after such property became an REO Property) in accordance with and subject to the provisions of this Agreement, as applicable; provided, however, to the extent any Servicing Expense to be incurred for repair, restoration, maintenance or other protection of any Mortgaged Property would exceed fifty percent (50%) of the then outstanding principal balance of the Loan, the applicable Servicer must obtain the prior written consent of the Required Noteholders prior to incurring such Servicing Expense, and (iii) compliance with such Servicer's obligations under Section 3.5 hereof; provided, however, such Servicer shall advance the expenses described in clauses (i) through (iii) above if, but only if, such Servicer would make an advance if it held the affected Loan or REO Property for its own account and, in such Servicer's judgment, such amounts will be recoverable from related Collections. Servicing Expenses shall not include any portion of such Servicer's overhead or normal salary and operating expenses.