Servicing Compensation; Payment of Certain Expenses by Servicer. On each Distribution Date, the Servicer shall be entitled to receive and the Indenture Trustee shall pay, out of collections on the Mortgage Loans for the Due Period, as servicing compensation for such Due Period, an amount (the "Monthly Servicing Fee") equal to the product of one-twelfth of the Servicing Fee. Additional servicing compensation in the form of assumption fees, late payment charges or extension and other administrative charges shall be retained by the Servicer. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (including payment of all fees and expenses of the Subservicer and payment of the Indenture Trustee Fee to the extent that monies in the Collection Account are insufficient therefor, as provided in Section 6.16 of the Indenture and payment of the Collateral Agent Fee as provided in Section 9.05 hereof, and all other fees and expenses not expressly stated hereunder to be payable by or from another source) and shall not be entitled to reimbursement therefor except as specifically provided herein.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (Bear Stearns Asset Backed Securities Inc), Sale and Servicing Agreement (Morgan Stanley Abs Capital I Inc)
Servicing Compensation; Payment of Certain Expenses by Servicer. On each Distribution Payment Date, the Servicer shall be entitled to receive receive, and the Indenture Trustee shall paydistribute, out of collections on the Mortgage Loans for the Due Period, as servicing compensation for such Due Period, an amount (the "Monthly Servicing Fee") equal to the product of one-twelfth of the Servicing Fee. Additional servicing compensation in the form of assumption fees, late payment charges or extension and other administrative charges shall be retained by the Servicer. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (including payment of all fees and expenses of the Subservicer and Subservicers, payment of the Indenture Trustee Fee to and any expenses or disbursements reasonably incurred or made by the extent that monies in Indenture Trustee and payment of the Collection Account are insufficient thereforCollateral Agent Fee and any expenses or disbursements incurred or made by the Collateral Agent, as provided in Section 6.16 of the Indenture and payment of the Collateral Agent Fee as provided in Section 9.05 11.05 hereof, and all other fees and expenses not expressly stated hereunder to be payable by or from another source) and shall not be entitled to reimbursement therefor except as specifically provided herein.
Appears in 2 contracts
Samples: Sale and Servicing Agreement (American Business Financial Services Inc /De/), Sale and Servicing Agreement (American Business Financial Services Inc /De/)
Servicing Compensation; Payment of Certain Expenses by Servicer. On each Distribution Payment Date, the Servicer shall be entitled to receive receive, and the Indenture Trustee shall pay, out of collections on the Mortgage Loans for the Due Period, as servicing compensation for such Due Period, an amount (the "Monthly Servicing Fee") equal to the product of one-twelfth of the Servicing Fee. Additional servicing compensation in the form of assumption fees, late payment charges or extension and other administrative charges shall be retained by the Servicer. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (including payment of all fees and expenses of the Subservicer and Subservicers, payment of the Indenture Trustee Fee to and any expenses or disbursements reasonably incurred or made by the extent that monies in Indenture Trustee and payment of the Collection Account are insufficient thereforCollateral Agent Fee, as provided in Section 6.16 of the Indenture and payment of the Collateral Agent Fee as provided in Section 9.05 11.05 hereof, and all other fees and expenses not expressly stated hereunder to be payable by or from another source) and shall not be entitled to reimbursement therefor except as specifically provided herein.
Appears in 1 contract
Samples: Sale and Servicing Agreement (American Business Financial Services Inc /De/)
Servicing Compensation; Payment of Certain Expenses by Servicer. On each Distribution Payment Date, the Servicer shall be entitled to receive receive, and the Indenture Trustee shall pay, out of collections on the Mortgage Loans for the Due Period, as servicing compensation for such Due Period, an amount (the "Monthly Servicing Fee") equal to the product of one-twelfth of the Servicing Fee. Additional servicing compensation in the form of assumption fees, late payment charges or extension and other administrative charges shall be retained by the Servicer. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (including payment of all fees and expenses of the Subservicer and Subservicers, payment of the Indenture Trustee Fee to and any expenses or disbursements reasonably incurred or made by the extent that monies in Indenture Trustee and payment of the Collection Account are insufficient thereforCollateral Agent Fee and any expenses or disbursements incurred or made by the Collateral Agent, as provided in Section 6.16 of the Indenture and payment of the Collateral Agent Fee as provided in Section 9.05 11.05 hereof, and all other fees and expenses not expressly stated hereunder to be payable by or from another source) and shall not be entitled to reimbursement therefor except as specifically provided herein.
Appears in 1 contract
Samples: Sale and Servicing Agreement (American Business Financial Services Inc /De/)