Common use of Servicing Compensation; Payment of Certain Expenses by Servicer Clause in Contracts

Servicing Compensation; Payment of Certain Expenses by Servicer. (a) As compensation for its services hereunder, the Servicer shall receive on each Distribution Date, a monthly fee (the "Servicing Fee") equal to the product of (x) the Servicing Fee Rate divided by 12 and (y) the Invested Amount less 98% of the Pre-Funded Amount (excluding any Pre-Funding Earnings) as of the opening of business on the first day of the preceding Collection Period or, with respect to the first Distribution Date, as of the Closing Date. For any Distribution Date, such fee shall be payable monthly in arrears in accordance with Section 5.1(a). Additional servicing compensation in the form of fees, late payment charges or otherwise shall be retained by the Servicer as additional servicing compensation. (b) The Servicer shall be required to pay all expenses incurred by it in connection with its activities under this Agreement, including fees and disbursements of the independent accountants referred to in Section 3.10, taxes imposed on the Servicer, expenses incurred in connection with distributions and reports to Certificateholders, all Trustee fees and expenses payable to the Trustee pursuant to Section 9.5, and all other fees and expenses not expressly stated hereunder to be for the account of the Certificateholders (including, without limitation, the cost of obtaining Opinions of Counsel required under this Agreement, except as otherwise provided herein), and shall not be entitled to reimbursement therefor except to the extent that such expenses constitute Liquidation Expenses or as otherwise specifically provided herein.

Servicing Compensation; Payment of Certain Expenses by Servicer. (a) As compensation for its services hereunderOn each Distribution Date, the Servicer shall receive be entitled to receive, and the Indenture Trustee shall pay, out of collections on each Distribution Datethe Mortgage Loans for the Due Period, a monthly fee as servicing compensation for such Due Period, an amount (the "Monthly Servicing Fee") equal to the product of (x) one-twelfth of the Servicing Fee Rate divided by 12 and (y) the Invested Amount less 98% aggregate outstanding Principal Balance of the Pre-Funded Amount (excluding any Pre-Funding Earnings) each Pool of Mortgage Loans as of the opening beginning of business on such Due Period; provided, however, that prior to the first day termination of the preceding Collection Period orBack-up Servicer, with respect the Monthly Servicing Fee shall be reduced on each Distribution Date by the amount, if any, of the Back-up Servicing Fee Deficiency on such Distribution Date. The Servicer shall provide written notice to the first Indenture Trustee and the Collateral Agent setting forth the amount of such reduction at least five (5) Business Days prior to the next Distribution Date, as of the Closing Date. For any Distribution Date, such fee shall be payable monthly in arrears in accordance with Section 5.1(a). Additional servicing compensation in the form of assumption fees, late payment charges or otherwise extension and other administrative charges shall be retained by the Servicer as additional servicing compensation. (b) Servicer. The Servicer shall be required to pay all expenses incurred by it in connection with its activities under this Agreement, hereunder (including fees and disbursements payment of the independent accountants referred to in Section 3.10, taxes imposed on the Servicer, expenses incurred in connection with distributions and reports to Certificateholders, all Trustee fees and expenses payable of the Subservicer, payment of the Indenture Trustee Fee and payment of the Collateral Agent Fee to the Trustee pursuant to extent that monies in the Collection Account are insufficient therefor, as provided in Section 9.56.16 of the Indenture and Section 9.05 hereof, and all other fees and expenses not expressly stated hereunder to be for the account of the Certificateholders (including, without limitation, the cost of obtaining Opinions of Counsel required under this Agreement, except as otherwise provided herein), payable by or from another source) and shall not be entitled to reimbursement therefor except to the extent that such expenses constitute Liquidation Expenses or as otherwise specifically provided herein.

Servicing Compensation; Payment of Certain Expenses by Servicer. (a) As compensation for its services hereunderactivities, the Servicer shall be entitled to receive on each Distribution Date, a the Servicer Fee in accordance with this Section 6.05 and the Series Supplements. The monthly fee (the "Servicing Fee") equal to the product of (x) the Servicing Servicer Fee Rate divided by 12 and (y) the Invested Amount less 98% of the Pre-Funded Amount (excluding any Pre-Funding Earnings) as of the opening of business on the first day of the preceding Collection Period or, with respect to the first Distribution Date, as of the Closing Date. For any Distribution Date, such fee shall be payable monthly to the Servicer, in arrears for each Collection Period, on the Settlement Date in respect of such Collection Period. The Servicer Fees shall be payable to the Servicer solely to the extent amounts are available for distribution pursuant to Section 7.02 hereof and the Series Supplements; provided, that in accordance with Section 5.1(a). Additional servicing compensation in the form such provisions, any such Servicer Fees not paid when due as a result of fees, late payment charges or otherwise there not being sufficient available funds therefor shall be retained by payable on any future Settlement Dates to the Servicer as additional servicing compensationextent amounts are then available for the payment thereof. (b) The Servicer shall be required to pay all expenses incurred by it the Servicer in connection with its activities under this Agreementhereunder, including including, without limitation, fees and disbursements of the independent accountants referred to in Section 3.10Independent Accountants, taxes imposed on the ServicerServicer (but excluding any sales taxes or other taxes imposed on any User, any Broker, the Obligors, the Transferor, the Trustee, any Noteholder, or any other Person), expenses incurred in connection with distributions and reports to Certificateholders, all Trustee fees and expenses payable to the Trustee pursuant to Section 9.5, Noteholders and all other fees and expenses not expressly stated hereunder to be for the account of the Certificateholders Obligors. (including, without limitationc) In connection with any transfer of the servicing obligations to a successor Servicer in accordance with Section 9.02 hereof, the cost of obtaining Opinions of Counsel required under this Agreement, except as otherwise provided herein), and Back-up Servicer shall not be entitled to reimbursement therefor except to the extent that such expenses constitute Liquidation Expenses or of Transition Costs as otherwise specifically provided hereinin each Series Supplement.

Servicing Compensation; Payment of Certain Expenses by Servicer. (a) As compensation for its services hereunder, the Servicer shall receive on each Distribution Date, a monthly fee (the "Servicing Fee") equal to the product of (x) the Servicing Fee Rate divided by 12 and (y) ), the Invested Amount less 98% of the Pre-Funded Amount (excluding any Pre-Funding Earnings) as of the opening of business on the first day of the preceding Collection Period or, with respect to the first Distribution Date, as of the Closing DatePeriod. For any Distribution Date, such fee shall be payable monthly in arrears in accordance with Section 5.1(a). Additional servicing compensation in the form of fees, late payment charges or otherwise shall be retained by the Servicer as additional servicing compensation. (b) The Servicer shall be required to pay all expenses incurred by it in connection with its activities under this Agreement, including fees and disbursements of the independent accountants referred to in Section 3.10, taxes imposed on the Servicer, expenses incurred in connection with distributions and reports to Certificateholders, all Trustee fees and expenses payable to the Trustee pursuant to Section 9.5, and all other fees and expenses not expressly stated hereunder to be for the account of the Certificateholders (including, without limitation, the cost of obtaining Opinions opinions of Counsel required under this Agreement, except as otherwise provided herein), and shall not be entitled to reimbursement therefor except to the extent that such expenses constitute Liquidation Expenses or as otherwise specifically provided herein.

Servicing Compensation; Payment of Certain Expenses by Servicer. (a) As compensation for its services hereunder, the Servicer shall receive on each Distribution Date, a monthly fee (the "Servicing Fee") equal to the product of (x) the Servicing Fee Rate divided by 12 and (y) the Invested Amount less 98% of the Pre-Funded Amount (excluding any Pre-Funding Earnings) as of the opening of business on the first day of the preceding Collection Period or, with respect to the first Distribution Date, as of the Closing Date. For any Distribution Date, such fee shall be payable monthly in arrears in accordance with Section 5.1(a). Additional servicing compensation in the form of fees, late payment charges or otherwise shall be retained by the Servicer as additional servicing compensation. (b) The Servicer shall be required to pay all expenses incurred by it in connection with its activities under this Agreement, including fees and disbursements of the independent accountants referred to in Section 3.10, taxes imposed on the Servicer, expenses incurred in connection with distributions and reports to Certificateholders, all Trustee fees and expenses payable to the Trustee pursuant to Section 9.5, and all other fees and expenses not expressly stated hereunder to be for the account of the Certificateholders (including, without limitation, the cost of obtaining Opinions of Counsel required under this Agreement, except as otherwise provided herein), and shall not be entitled to reimbursement therefor except to the extent that such expenses constitute Liquidation Expenses or as otherwise specifically provided herein.

Servicing Compensation; Payment of Certain Expenses by Servicer. (a) As The Servicer shall be entitled to receive the Servicing Fee in accordance with the terms of this Agreement as compensation for its services hereunderin connection with servicing the Mortgage Loans. Moreover, the Servicer shall receive on each Distribution Date, a monthly fee (the "Servicing Fee") equal to the product of (x) the Servicing Fee Rate divided by 12 and (y) the Invested Amount less 98% of the Pre-Funded Amount (excluding any Pre-Funding Earnings) as of the opening of business on the first day of the preceding Collection Period or, with respect to the first Distribution Date, as of the Closing Date. For any Distribution Date, such fee shall be payable monthly in arrears in accordance with Section 5.1(a). Additional additional servicing compensation in the form of fees, late payment charges charges, Foreclosure Profits or otherwise other receipts not required to be deposited in the Collection Account shall be retained by the Servicer as additional servicing compensation. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (including payment of all other fees and expenses not expressly stated hereunder to be for the account of the Certificateholders) and shall not be entitled to reimbursement therefor except as specifically provided herein. (b) The Servicer shall be required to pay all expenses incurred by it in connection with its activities under this Agreement, including fees and disbursements of the independent accountants referred to in Section 3.103.11, taxes imposed on the Servicer, expenses incurred in connection with distributions and reports to Certificateholders, all Trustee fees and expenses payable to the Trustee pursuant to Section 9.5, and all other fees and expenses not expressly stated hereunder to be for the account of the Certificateholders (including, without limitation, the cost of obtaining Opinions of Counsel required under this Agreement, except as otherwise provided herein), and shall not be entitled to reimbursement therefor except to the extent that such expenses constitute Liquidation Expenses or as otherwise specifically provided herein.