Excess Servicing Strip definition

Excess Servicing Strip. With respect to each Trust Mortgage Loan and Trust REO Loan, that portion of the Master Servicing Fee for such Mortgage Loan or REO Loan that represents interest accrued at the related Excess Servicing Strip Rate.

Excess Servicing Strip. With respect to any Trust Mortgage Loan or REO Trust Mortgage Loan, the portion of the related Master Servicing Fee (which portion shall not include that portion payable to any Sub-Servicer party to a Sub-Servicing Agreement dated the date hereof) that accrues at the related Excess Servicing Strip Rate in effect from time to time, subject to reduction by the Trustee in accordance with Section 3.11(a).

Excess Servicing Strip means any transaction consisting of the sale of excess servicing fees, or any interest therein to a third party in the ordinary course of business, or any similar transaction.

Examples of Excess Servicing Strip in a sentence

• The holder of the Excess Servicing Strip shall not have any rights under this Agreement except as set forth in the preceding sentences of this paragraph.

• As compensation therefor, the Trustee shall be entitled to all fees and other compensation which the resigning or terminated party would have been entitled to if the resigning or terminated party had continued to act hereunder (subject to Section 3.11(a) with respect to the Excess Servicing Strip).

• The holder of the Excess Servicing Strip is hereby designated as owning an undivided beneficial interest in the Excess Servicing Strip payable on the Mortgage Loans and the REO Loans and proceeds thereof.

• For the avoidance of doubt, a Sub-Servicer to a Sub-Servicing Agreement dated the date hereof shall not be deemed to be the holder of an Excess Servicing Strip with respect to any sub-servicing fee payable thereunder.

• The right to receive the Master Servicing Fee may not be transferred in whole or in part except in connection with the transfer of all of the Master Servicer's responsibilities and obligations under this Agreement or the transfer of all or a portion of the Master Servicer's right to receive the Excess Servicing Strip.

More Definitions of Excess Servicing Strip

Excess Servicing Strip. The excess of the Servicing Fee Rate over 0.005% (0.50 basis points) per annum, subject to reduction by the Trustee pursuant to Section 3.12(a).

Excess Servicing Strip means that portion of the servicing fee paid to the Seller to service the Acquired Servicing Portfolio which is in excess of the reasonable compensation for such servicing duties and obligations, as determined in accordance with the Code.

Excess Servicing Strip. With respect to any Group 2 Loan that has not become a Specially Serviced Group 2 Loan, that portion of the related Sub-Servicing Fee computed at a rate equal to the excess of (a) 0.25% (25 basis points) per annum over (b) 0.14% (14 basis points) per annum. With respect to any Group 2 Loan that has become a Specially Serviced Group 2 Loan, that portion of the related Sub-Servicing Fee computed at a rate equal to the excess of (a) 0.75% (75 basis points) per annum over (b) 0.64% (64 basis points) per annum.

Excess Servicing Strip means any transaction consisting of the sale of excess servicing fees, or any interest therein, to a third party in the ordinary course of business and for Fair Market Value, or any similar transaction.

Excess Servicing Strip. With respect to each Trust Mortgage Loan and Trust REO Loan being master serviced by Master Servicer No. 2, that portion of the Master Servicing Fee for such Mortgage Loan or REO Loan that represents interest accrued at the related Excess Servicing Strip Rate.

Excess Servicing Strip. With respect to any GSMC Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, the portion of the related Master Servicing Fee (which portion shall not include that portion payable to any Sub-Servicer party to a Sub-Servicing Agreement dated the date hereof or payable to a Broker with respect to a Broker Strip Loan) that accrues at the related Excess Servicing Strip Rate in effect from time to time, subject to reduction by the Trustee in accordance with Section 3.11(a).

Excess Servicing Strip. An uncertificated REMIC "regular interest" in the REMIC, represented by the right of the Excess Servicing Strip Holder to receive distributions with respect to such interest pursuant to Section 3.27 hereof.