Common use of SERVICING FEE; SERVICING FEE CARRYOVER Clause in Contracts

SERVICING FEE; SERVICING FEE CARRYOVER. For its services hereunder, each Master Servicer shall be entitled to receive the Servicing Fee and any Servicing Fee Carryover in the manner set forth in Section 5.5. Notwithstanding anything to the contrary contained herein or in any other Basic Document, each Master Servicer shall only be entitled to receive any Servicing Fee Carryover on any applicable Note Distribution Date or Certificate Distribution Date if and to the extent that sufficient funds are available pursuant to Section 5.5(e)(iii), 5.6(b)(A) or 5.6(c).

Appears in 3 contracts

Samples: Sale and Servicing Agreement (Classnotes Inc), Second Supplemental Sale and Servicing Agreement (Classnotes Inc), Sale and Servicing Agreement (Classnotes Inc)

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SERVICING FEE; SERVICING FEE CARRYOVER. For its services hereunder, each the Master Servicer shall be entitled to receive the Servicing Fee and any Servicing Fee Carryover in the manner set forth in Section 5.5. Notwithstanding anything to the contrary contained herein or in any other Basic Document, each the Master Servicer shall only be entitled to receive any Servicing Fee Carryover on any applicable Note Distribution Date or Certificate Distribution Date if and to the extent that sufficient funds are available pursuant to Section 5.5(e)(iii), 5.6(b)(A) or 5.6(c).

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Classnotes Trust 1995-1 Asset Backed Ser 1996-2), Sale and Servicing Agreement (Transworld Insurance Co)

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