Subservicing Compensation. (a) As compensation for its activities under this Agreement, for each calendar month, the Subservicer shall be entitled to withdraw from the Servicing Fee Account the Base Legacy Servicing Compensation and the Base Future Servicing Compensation, as applicable on the 2nd Business Day of the immediately succeeding calendar month (and if such day is not a Business Day, the next succeeding Business Day). In the event that there are insufficient funds in the Servicing Fee Account to pay the Base Legacy Servicing Compensation and Base Future Servicing Compensation, as applicable for any month, the Subservicer shall be entitled to withdraw the amount of any deficiency from the Ancillary Fee Account provided there are excess funds in such account after payment of the Floor Component Amount in any month. In the event funds in the Base Servicing Compensation Account and any remaining funds in the Ancillary Fee Account are insufficient to pay the Base Legacy Servicing Compensation and Base Future Servicing Compensation, as applicable in any month, the Subservicer shall send an invoice via email to KRECM’s portfolio manager for the balance of the Base Legacy Servicing Compensation and Base Future Servicing Compensation, as applicable and KRECM shall pay such invoice within ten (10) Business Days of receipt of such invoice by wire transfer of funds pursuant to the wire transfer instructions provided by Subservicer to KRECM from time to time.
(b) In addition to the compensation payable pursuant to Section 4.01(a), for each calendar month, the Subservicer shall be entitled to withdraw from the Ancillary Fee Account, one-twelfth of the Floor Component Amount on the 2nd Business Day of the immediately succeeding calendar month (or if such day is not a Business Day, the next succeeding Business Day). In the event there are insufficient funds to pay the Floor Component Amount for any month, the Subservicer shall be entitled to withdraw the amount of any deficiency from the Servicing Fee Account to the extent of any excess funds are remaining in such account after payment of the Base Legacy Servicing Compensation and Base Future Servicing Compensation, as applicable. If the funds in the Ancillary Fee Account and any remaining funds in the Servicing Fee Account are insufficient to pay the Floor Component Amount in any month, the Subservicer shall send an invoice via email to KRECM portfolio manager for the balance to KRECM and KRECM shall pay such invoice within ten (10) Busin...
Subservicing Compensation. On or prior to each Reporting Date, the Subservicer shall provide the Owner/Servicer, in an electronic format, a monthly report containing data elements detailing all the Owner/Servicer Economics, the Owner/Servicer Expenses and the Subservicer Economics (the “Reconciliation Report”) as set forth in the related Formatted Servicing Report; it being understood that the amounts described in clauses (iv) and (v) of Owner/Servicer Economics, and Owner/Servicer Expenses, may relate to prior periods. Pursuant to Section 2.8(f), the Subservicer shall provide the Owner/Servicer with sufficient information to reflect the calculation (daily and monthly, as applicable) of the Owner/Servicer Economics, the Owner/Servicer Expenses and the Subservicer Economics, including the fees payable to the Subservicer by the Owner/Servicer under this Agreement. Unless separate reporting is requested by Owner/Servicer, Subservicer may combine the Reconciliation Report and any supporting materials required to be delivered hereunder with the “Reconciliation Report” and supporting materials as defined in and delivered pursuant to the relevant NRZ Servicing/Subservicing Agreements. or the NRM Agency Subservicing Agreement The Owner/Servicer shall pay all non-disputed amounts of the Subservicer Economics and all non-disputed amounts of Owner/Servicer Expenses on a monthly basis, in arrears, on the later of the last Business Day of each month and five (5) Business Days following receipt of the Reconciliation Report, and if reasonably necessary, additional information to confirm and reconcile the Owner/Servicer Economics, Owner/Servicer Expenses and the Subservicer Economics relating to the applicable periods included in the Reconciliation Report, subject to Section 4.3. To the extent (i) the Owner/Servicer does not pay all non-disputed amounts of the Subservicer Economics within the applicable timeframe set forth in the prior sentence or any amounts owed to the Subservicer hereunder within the timeframe set forth herein (or if not set forth, within two (2) Business Days of Subservicer notifying Owner/Servicer of such amounts being owed) and (ii) the Subservicer provided the Owner/Servicer at least two (2) Business Days’ prior notice of its intention to net such non-disputed amounts, the Subservicer is entitled net and retain all such non-disputed amounts of the Subservicer Economics from the applicable remittance Subservicer makes to the Owner/Servicer pursuant to Section 2.8(f); provided...
Subservicing Compensation. (a) As compensation for its activities under this Agreement, the Subservicer shall be entitled to receive the Subservicing Fee with respect to each Mortgage Loan (commencing on such Mortgage Loan’s Due Date in March 2015) unless and until such Mortgage Loan becomes a Specially Serviced Mortgage Loan or a serviced REO Loan. As to each Mortgage Loan, the Subservicing Fee shall accrue at the related Subservicing Fee Rate (in accordance with the same terms of the related promissory note as are applicable to the accrual of interest at the interest rate) and shall be computed on the basis of the same principal amount as interest accrues from time to time on such Mortgage Loan, and for the same period respecting which any related interest payment due on such Mortgage Loan is computed. The Subservicing Fee with respect to any Mortgage Loan shall cease to accrue if such Mortgage Loan becomes a Specially Serviced Mortgage Loan or an REO Loan or if a sale or liquidation occurs in respect of such Mortgage Loan; provided, such Subservicing Fee shall begin accruing upon such Specially Serviced Mortgage Loan becoming a Corrected Mortgage Loan. Subservicing Fees earned with respect to any Mortgage Loan shall be payable monthly from payments of interest on such Mortgage Loan. The Subservicer shall be entitled to recover unpaid Subservicing Fees in respect of any Mortgage Loan out of the portion of any related Insurance Proceeds and Condemnation Proceeds or Liquidation Proceeds allocable as interest on such Mortgage Loan to the extent the Master Servicer is permitted to recover unpaid Master Servicing Fees to which it is entitled under PSA Section 6.1. The Subservicer’s right to receive the Subservicing Fees to which it is entitled may not be transferred in whole or in part except in connection with the transfer of all of the Subservicer’s responsibilities and obligations under and pursuant to this Agreement and except as otherwise expressly provided in this Agreement.
(b) The Subservicer shall also be entitled to withdraw from the Subservicer Collection Account and retain, as additional servicing compensation (the “Additional Subservicing Compensation”), subject to any offset provided in the PSA (including offsets for interest on Advances, inspection costs and Additional Trust Expenses), the following items:
(i) 40% (or 20% if the Special Servicer is required to consent to or review the applicable servicing action) of any and all Assumption Fees actually paid by a Mortgago...
Subservicing Compensation. (a) As compensation for its activities hereunder, the HELOC Subservicer shall be entitled to receive the HELOC Subservicing Fee from full payments of accrued interest on each HELOC Mortgage Loan or as otherwise provided in Section 3.07. The HELOC Subservicer shall be solely responsible for paying any and all fees with respect to a Subservicer and the HELOC Master Servicer shall not bear any fees, expenses or other costs directly associated with any Subservicer.
(b) The HELOC Subservicer may retain additional servicing compensation in the form of prepayment charges, if any, a portion of the assumption fees up to 2% of the Stated Principal Balance of the related HELOC Mortgage Loan, fees for statement of account or payoff, late payment charges, or otherwise, to the extent such fees are collected from the related Mortgagors or, with respect to a Liquidated Mortgage Loan, to the extent such fees have accrued. The HELOC Subservicer shall be required to pay all expenses it incurs in connection with servicing activities under this HELOC Subservicing Agreement and shall not be entitled in connection with servicing activities under this HELOC Subservicing Agreement to reimbursement except as provided in this HELOC Subservicing Agreement. Expenses to be paid by the HELOC Subservicer under this Subsection 3.15(b) shall include payment of the expenses of the accountants retained pursuant to Section 3.17.
Subservicing Compensation. 23 Section 3.16
Subservicing Compensation. In consideration of its servicing duties and obligations hereunder, each Subservicer shall be entitled to a compensation (the “Subservicing Fees”) to be calculated and payable in accordance with the Federation’s instructions.
Subservicing Compensation. (a) As compensation for its services hereunder, to the extent permitted, the Subservicer shall be entitled to withdraw from the applicable account, as determined under each Servicing Arrangement, or to retain from payments on the Mortgage Loans, the amount of its Subservicing Fee. The Subservicing Fee shall be payable periodically at the times servicing fees are payable under the Servicing Arrangement. Additional servicing compensation in the form of assumption fees, Ancillary Income and REO Disposition Fees shall be retained by the Subservicer (“Additional Subservicing Compensation”) to the extent permitted to the Servicer under the Servicing Agreement.
(b) Servicing advances and expenses, such as those incurred for interest and principal, property preservation or conducting loss mitigation and loan modification activities, shall be borne by the Servicer to the extent not reimbursed under a Servicing Arrangement.
Subservicing Compensation. 64 Section 4.2. Due Date of Payments; Penalties. 65 Section 4.3. Resolution of Disputes and Monetary Errors. 65 ARTICLE V TERM AND TERMINATION 66 Section 5.1. Term. 66 Section 5.2. [Reserved]. 68
Subservicing Compensation. As the Subservicer's sole consideration under this Agreement, the Subservicer shall be entitled to retain interest or other investment earnings on the deposit amounts in the Moody's CMBS Accounts (but only to the extent of net investment earnings and to the extent not required to be paid to the Borrower under applicable law or the related loan documents). Subject to KeyBank National Association being an eligible depository institution under the related PSA, KRECM, or its affiliate KeyBank National Association, shall be entitled to retain interest or other investment earnings on the deposit amounts in the Non-Moody's CMBS Accounts (but only to the extent of net investment earnings and to the extent not required to be paid to the Borrower under applicable law or the related loan documents). Notwithstanding anything to the contrary in this Agreement or otherwise, the Subservicer shall not be entitled to collect or retain any consideration in connection with the performance of its duties and obligations under this Agreement other than any interest or other investment earnings on the deposit amounts in the Moody's CMBS Accounts as described in this Section 4.01.
Subservicing Compensation. 25 Section 3.16 Annual Statements of Compliance............................................................25 Section 3.17 Annual Independent Public Accountants' Servicing Report....................................26 Section 3.18 Optional Purchase of Defaulted Mortgage Loans..............................................27 Section 3.19 Information Required by the Internal Revenue Service Generally and Reports of Foreclosures and Abandonments of Mortgaged Property.......................27 Section 3.20 Fair Credit Reporting Act..................................................................27
