Deboarding Fee definition

Deboarding Fee. The amount that the Seller shall be required to pay to the Servicer as a result of the Seller or the Master Servicer exercising its right to terminate this Agreement without cause with respect to some or all of the Mortgage Loans pursuant to Section 8.02(iii) hereof, which amount is set forth on Schedule II hereto. Depositor: Structured Asset Securities Corporation, a Delaware corporation, or any successor in interest.

Deboarding Fee. The Deboarding Fee shall be an amount equal to per Mortgage Loan or REO Property shall be an amount set forth in the Fee Letter.

Deboarding Fee. With respect to each Mortgage Loan, the deboarding fee set forth in the related Term Sheet.

Examples of Deboarding Fee in a sentence

• In the event the Seller terminates the Servicer without cause pursuant to subsection (iii) above with respect to some or all of the Mortgage Loans, the Seller shall be required to pay to the Servicer the applicable Termination Fee and the applicable Deboarding Fee with respect to the affected Mortgage Loans; provided, that, no Termination Fee may be paid or payable with respect to certain Mortgage Loans as agreed to between the Seller and the Servicer from time to time.

• In the event that the Servicer is not the master servicer, servicer or sub-servicer with respect to a Reconstitution, any and all reasonable out-of-pocket costs, fees and expenses incurred by the Servicer in connection with the foregoing shall be reimbursed by the Owner after receipt of an invoice therefor and the Owner shall be liable to the Servicer for any applicable Deboarding Fee.

• In addition, in the event that any Mortgage Loans are sold in a servicing-released Whole Loan Transfer, the Owner shall pay the Deboarding Fee to the Servicer in connection with such Mortgage Loans subject to the provisions set forth herein.

• If Owner notifies Servicer in writing of such termination of certain Mortgage Loans pursuant to this Section 6.01(c) within 90 days of Servicer’s one level drop in rankings or ratings from those ratings listed on Exhibit 18, then Owner shall not be required to pay the Deboarding Fee and Termination Fee as listed on Exhibit 12A or Exhibit 12B, as applicable.

• In the event of such Event of Default by the Servicer, and Termination of this Agreement as a result thereof, no Deboarding Fee and Termination Fee shall be due from Owner and all Servicing Transfer Costs shall be paid by the Servicer upon presentation of reasonable documentation of such costs.

More Definitions of Deboarding Fee

Deboarding Fee. The amount that the Seller shall be required to pay to the Subservicer as a result of the Seller, the Servicer or the Master Servicer exercising its right to terminate this Agreement without cause with respect to some or all of the Mortgage Loans pursuant to Section 8.02(iii) hereof, which amount is set forth in the GMAC Flow Subservicing Agreement. Depositor: Structured Asset Securities Corporation, a Delaware corporation, or any successor in interest.

Deboarding Fee as follows:

Deboarding Fee. The Deboarding Fee shall be an amount equal to:

Deboarding Fee. With respect to each Mortgage Loan, the amount set forth in the Fee Letter, which amount shall be payable to Servicer in the event Servicer is terminated without cause pursuant to this Agreement. For the avoidance of doubt, a Deboarding Fee is not payable in connection with a a liquidation of a Mortgage Loan (other than a payoff in full) or the liquidation or transfer of an REO Property.

Deboarding Fee. The applicable amount designated on Exhibit A as the Deboarding Fee.

Deboarding Fee. With respect to each Mortgage Loan and REO Property, the deboarding fee set forth in the Pricing Exhibit. Default: A Mortgage Loan shall be considered in default when one Monthly Payment is due and unpaid as of the last day of the calendar month in which the monthly payment was due.

Deboarding Fee means, with respect to any Asset, the applicable fee set forth on Exhibit C paid by the related Owner to the Subservicer pursuant to Section 10.1(c).