Common use of Waiver of Prepayment Charges Clause in Contracts

Waiver of Prepayment Charges. Except as provided below, the Servicer or any designee of the Servicer shall not waive any Prepayment Charge with respect to any Mortgage Loan. If the Servicer or its designee fails to collect a Prepayment Charge at the time of the related prepayment of any Mortgage Loan subject to such Prepayment Charge, the Servicer shall pay to the Owner at such time (by deposit to the Custodial Account) an amount equal to the amount of the Prepayment Charge not collected. Notwithstanding the above, the Servicer or its designee may waive a Prepayment Charge without paying to the Owner the amount of such Prepayment Charge only if the related prepayment is not the result of a refinancing by the Servicer or its designee and such waiver (i) relates to a defaulted Mortgage Loan or a reasonably foreseeable default, such waiver is standard and customary in servicing similar mortgage loans to the Mortgage Loans, and such waiver, in the reasonable judgment of the Servicer, would maximize recovery of total proceeds from the Mortgage Loan, taking into account the amount of such Prepayment Charge and the related Mortgage Loan, or (ii) relates to a Prepayment Charge the collection of which, in the reasonable judgment of the Servicer, would be a violation of applicable laws.

Waiver of Prepayment Charges. Except as provided set forth below, the Servicer Seller or any designee of the Servicer Seller shall not waive any Prepayment Charge prepayment charge with respect to any Mortgage Loan. If the Servicer Seller or its designee fails to collect a Prepayment Charge prepayment charge at the time of the related prepayment of any Mortgage Loan subject to such Prepayment Chargeprepayment charge, the Servicer Seller shall pay to the Owner at such time (by deposit to the Custodial Account) Account an amount equal to the amount of the Prepayment Charge prepayment charge not collected. Notwithstanding the above, the Servicer Seller or its designee may waive a Prepayment Charge prepayment charge without paying to the Owner Custodial Account the amount of such Prepayment Charge prepayment charge only if the related prepayment is not the result of a refinancing by the Servicer Seller or its designee and such waiver (ia) relates to a defaulted Mortgage Loan or a reasonably foreseeable default, such waiver is standard and customary in servicing similar mortgage loans to the Mortgage Loans, and such waiver, in the reasonable judgment of the ServicerSeller, would maximize recovery of total proceeds from the Mortgage Loan, taking into account the amount of such Prepayment Charge prepayment charge and the related Mortgage Loan, or (iib) relates to a Prepayment Charge prepayment charge the collection of which, in the reasonable judgment of the ServicerSeller, would be a violation of applicable laws.

Waiver of Prepayment Charges. Except as provided set forth below, the Servicer Company or any designee of the Servicer Company shall not waive any Prepayment Charge with respect to any Mortgage Loan. If the Servicer Company or its designee fails to collect a Prepayment Charge at the time of the related principal prepayment in full of any Mortgage Loan subject to such Prepayment Charge, the Servicer Company shall pay to the Owner at such time (by deposit to the Custodial Account) Account an amount equal to the amount of the Prepayment Charge prepayment charge not collected. Notwithstanding the above, the Servicer Company or its designee may waive a Prepayment Charge without paying to the Owner Custodial Account the amount of such Prepayment Charge only if the related prepayment in full is not the result of a refinancing by the Servicer Company or its designee and such waiver (ia) relates to a defaulted Mortgage Loan or a reasonably foreseeable default, such waiver is standard and customary in servicing similar mortgage loans to the Mortgage Loans, and such waiver, in the reasonable judgment of the ServicerCompany, would maximize recovery of total proceeds from the Mortgage Loan, taking into account the amount of such Prepayment Charge and the related Mortgage Loan, or (iib) relates to a Prepayment Charge the collection of which, in the reasonable judgment of the ServicerCompany, would be a violation of applicable lawslaws and regulations.

Waiver of Prepayment Charges. Except as provided set forth below, the Servicer Company or any designee of the Servicer Company shall not waive any Prepayment Charge prepayment charge with respect to any Mortgage Loan. If the Servicer Company or its designee fails to collect a Prepayment Charge prepayment charge at the time of the related prepayment of any Mortgage Loan subject to such Prepayment Chargeprepayment charge, the Servicer Company shall pay to the Owner at such time (by deposit to the Custodial Account) Account an amount equal to the amount of the Prepayment Charge prepayment charge not collected. Notwithstanding the above, the Servicer Company or its designee may waive a Prepayment Charge prepayment charge without paying to the Owner Custodial Account the amount of such Prepayment Charge the prepayment charge only if the related prepayment is not the result of a refinancing by the Servicer Company or its designee and such waiver (ia) relates to a defaulted Mortgage Loan or a reasonably foreseeable default, such waiver is standard and customary in servicing similar mortgage loans to the Mortgage Loans, and such waiver, in the reasonable judgment of the ServicerCompany, would maximize recovery of total proceeds from the Mortgage Loan, taking into account the amount of such Prepayment Charge prepayment charge and the related Mortgage Loan, or (iib) relates to a Prepayment Charge prepayment charge the collection of which, in the reasonable judgment of the ServicerCompany, would be a violation of applicable laws.

Waiver of Prepayment Charges. Except as provided set forth below, the Servicer Company or any designee of the Servicer Company shall not waive any Prepayment Charge prepayment charge with respect to any Mortgage Loan. If the Servicer Company or its designee fails to collect a Prepayment Charge prepayment charge at the time of the related prepayment of any Mortgage Loan subject to such Prepayment Chargeprepayment charge, the Servicer Company shall pay to the Owner at such time (by deposit to the Custodial Account) Account an amount equal to the amount of the Prepayment Charge prepayment charge not collected. Notwithstanding the above, the Servicer Company or its designee may waive a Prepayment Charge prepayment charge without paying to the Owner Custodial Account the amount of such Prepayment Charge prepayment charge only if the related prepayment is not the result of a refinancing by the Servicer Company or its designee and such waiver (ia) relates to a defaulted Mortgage Loan or a reasonably foreseeable default, such waiver is standard and customary in servicing similar mortgage loans to the Mortgage Loans, and such waiver, in the reasonable judgment of the ServicerCompany, would maximize recovery of total proceeds from the Mortgage Loan, taking into account the amount of such Prepayment Charge prepayment charge and the related Mortgage Loan, or (iib) relates to a Prepayment Charge prepayment charge the collection of which, in the reasonable judgment of the ServicerCompany, would be a violation of applicable laws.