Successor Servicer. In connection with the appointment of any successor servicer or the assumption of the duties of the Servicer, the Depositor or the Trustee may make such arrangements for the compensation of such successor servicer out of payments on the Mortgage Loans as the Depositor or the Trustee and such successor servicer shall agree. If the successor servicer does not agree that such market value is a fair price, such successor servicer shall obtain two quotations of market value from third parties actively engaged in the servicing of single-family mortgage loans. Notwithstanding the foregoing, the compensation payable to a successor servicer may not exceed the compensation which the Servicer would have been entitled to retain if the Servicer had continued to act as Servicer hereunder.
Appears in 22 contracts
Samples: Grantor Trust Agreement (GreenPoint Mortgage Funding Trust 2005-Ar1), Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2006-Ar1), Pooling and Servicing Agreement (GreenPoint Mortgage Funding Trust 2005-Ar1)
Successor Servicer. In connection with the appointment of any successor servicer Servicer or the assumption of the duties of the Servicer, the Depositor or the Trustee may make such arrangements for the compensation of such successor servicer Servicer out of payments on the Mortgage Loans as the Depositor or the Trustee and such successor servicer Servicer shall agree. If the successor servicer Servicer does not agree that such market value is a fair price, such successor servicer Servicer shall obtain two quotations of market value from third parties actively engaged in the servicing of single-family mortgage loans. Notwithstanding the foregoing, the compensation payable to a successor servicer Servicer may not exceed the compensation which the Servicer would have been entitled to retain if the Servicer had continued to act as Servicer hereunder.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Eq1), Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Wf2), Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Wf1)
Successor Servicer. In connection with the appointment of any successor servicer or the assumption of the duties of the Servicer, the Depositor or the Trustee may make such arrangements for the compensation of such successor servicer out of payments on the Mortgage Loans as the Depositor or the Trustee and such successor servicer shall agree. If the successor servicer does not agree that such market value is a fair price, such successor servicer shall obtain two quotations of market value from third parties actively engaged in the servicing of single-family mortgage loans. Notwithstanding the foregoing, the compensation payable to a successor servicer may not exceed the compensation which the Servicer would have been entitled to retain if the Servicer had continued to act as Servicer hereunder.. 150
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2007-Ar3)
