Group I Servicing Fee. With respect to Group I, as to any Payment Date, the product of (x) one-twelfth of 0.50% and (y) the aggregate Loan Balances of the Mortgage Loans in Group I as of the opening of business on the first day of the related Remittance Period. Such Servicing Fee is retained by the Servicer pursuant to Sections 8.8(c)(i) and 8.15 hereof.
Group I Servicing Fee. With respect to any Home Equity Loan in Group I and each Remittance Period, an amount retained by the Servicer as compensation for servicing and administration duties relating to such Home Equity Loan pursuant to Section 8.15 and equal to one month's interest at 0.50% per annum of the then outstanding principal balance of such Home Equity Loan as of the first day of each Remittance Period payable on a monthly basis; provided, however, that if a successor Servicer is appointed pursuant to Section 8.20 hereof, the Group I Servicing Fee shall be the amount as agreed upon by the Trustee, the Certificate Insurer and the successor Servicer, and the per annum rate at which the Group I Servicing Fee is calculated shall not exceed 0.50% per annum.
Group I Servicing Fee. With respect to each "Group II Servicing Fee": With respect to each Mortgage Loan in Group I and each Remittance Date, the Mortgage Loan in Group II and each Remittance Date, the product of (x) one-twelfth of the Servicing Fee Rate and product of (x) one-twelfth of the Servicing Fee Rate (y) aggregate Scheduled Principal Balance of such and (y) aggregate Scheduled Principal Balance of such Mortgage Loan as of the opening of business on the first Mortgage Loan as of the opening of business on the day of the Due Period preceding such Remittance Date. first day of the Due Period preceding such Remittance Date.
Examples of Group I Servicing Fee in a sentence
Any amounts deposited by the Group I Master Servicer pursuant to this Section 9.01 shall be net of the Group I Servicing Fee for the related Group I Mortgage Loans.
More Definitions of Group I Servicing Fee
Group I Servicing Fee. With respect to each Mortgage Loan in Group I and each Remittance Date, the product of :
Group I Servicing Fee. With respect to Group I, as to any Remittance Period, the product of (x) the Servicing Fee Rate over such period and (y) the aggregate Loan Balances of the Mortgage Loans in Group I as of the opening of business on the first day of the related Remittance Period. Such Group I Servicing Fee is retained by the Servicer pursuant to Sections 8.8(c)(i) and 8.15 hereof.
Group I Servicing Fee. As to each Mortgage Loan in Group I and any Distribution Date, an amount equal to one month's interest at the Servicing Fee Rate on the Stated Principal Balance of such Mortgage Loan as of the immediately preceding Distribution Date or, in the event of any payment of interest that accompanies a Principal Prepayment in full made by the Mortgagor, interest at the Servicing Fee Rate on the Stated Principal Balance of such Mortgage Loan as of the immediately preceding Distribution Date for the period covered by such payment of interest (in each case payable from interest collections on such Mortgage Loan).
Group I Servicing Fee. With respect to any Home Equity Loan in Group I, an amount retained by the Servicer as compensation for servicing and administration duties relating to such Home Equity Loan pursuant to Section 8.15 and equal to one month's interest at 0.50% per annum of the then outstanding principal balance of such Home Equity Loan as of the first day of each Remittance Period payable on a monthly basis; provided, however, that with respect to any Group I Underwater Loan, as of any Payment Date (i) the sum of (x) the weighted average Pass-Through Rate of the Fixed Rate Certificates and (y) the annualized rate at which the Servicing Fee, Premium Amount and Trustee Fee related to Group I would otherwise be calculated exceeds (ii) the weighted average Coupon Rate of the Group I Underwater Loans for the related Remittance Period, then the Group I Servicing Fee for such Payment Date shall be reduced by an amount equal to the product of (a) one-twelfth of such excess (not to exceed 25 basis points on a per annum basis) and (b) the aggregate Loan Balance of the Group I Underwater Loans as of the opening of business of the first day of such Remittance Period divided by the aggregate Loan Balance of the Home Equity Loans in Group I; provided, however, that if a successor Servicer is appointed pursuant to Section 8.20 hereof, the Group I Servicing Fee shall be the amount as agreed upon by the Trustee, the Certificate Insurer, the successor Servicer and the Owners of a majority of the Percentage Interests of the Class R Certificates, such amount not to exceed 0.50% per annum.
Group I Servicing Fee. With respect to each related Group I Mortgage Loan and any Distribution Date, an amount equal to the product of (i) one-twelfth of the Group I Servicing Fee Rate and (ii) the applicable Stated Principal Balance of such Group I Mortgage Loan as of the last day of the calendar month preceding the month in which such Distribution Date occurs. Such fee shall be payable monthly. The Group I Servicing Fee is payable solely from the interest portion (including recoveries with respect to interest from Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds and proceeds received with respect to REO Properties, to the extent permitted by Section 3.11) of such Scheduled Payment collected by the related Group I Servicer or as otherwise provided under Section 3.11.
Group I Servicing Fee. With respect to each "GROUP II SERVICING FEE": With respect to each Mortgage Mortgage Loan in Group I and each Remittance Date, Loan in Group II and each Remittance Date, the product the product of (x) one-twelfth of the Servicing Fee of (x) one-twelfth of the Servicing Fee Rate and (y) Rate and (y) aggregate Scheduled Principal Balance aggregate Scheduled Principal Balance of such Mortgage of such Mortgage Loan as of the opening of business Loan as of the opening of business on the first day of on the first day of the Due Period preceding such the Due Period preceding such Remittance Date. Remittance Date. "GROUP I SERVICING FEE RATE": With respect to each "GROUP II SERVICING FEE RATE": With respect to each Mortgage Loan in Group I, the fixed per annum rate Mortgage Loan in Group II, the fixed per annum rate payable to the Servicer as set out on Schedule IA payable to the Servicer as set out on Schedule IB to to this Agreement. this Agreement. "Group I Stepdown Date": With respect to Group I, "GROUP II STEPDOWN DATE": With respect to Group II, the the earlier to occur of (i) the later to occur of earlier to occur of (i) the later to occur of (A) the (A) the Distribution Date in July 2002 and (B) the Distribution Date in July 2002 and (B) the first first Distribution Date on which the Group I Class Distribution Date on which the Group II Class A A Certificate Principal Balance immediately prior Certificate Principal Balance immediately prior to such to such Distribution Date (less the Group I Distribution Date (less the Group II Principal Funds for Principal Funds for such Distribution Date) is less such Distribution Date) is less than or equal to 58.00% than or equal to 72.00% of the Scheduled Principal of the Scheduled Principal Balances of Group II and (ii) Balances of Group I and (ii) the Distribution Date the Distribution Date on which the Group II Class A on which the Group I Class A Certificate Principal Certificate Principal Balance has been reduced to zero. Balance has been reduced to zero. "Group I Subordinated Certificates": The Class "GROUP II SUBORDINATED CERTIFICATES": The Class MV-1, MF-1, Class MF-2, Class BF-1 and Class BF-1A Class MV-2, Class BV-1 and Class BV-1A Certificates. Certificates.
Group I Servicing Fee. With respect to any Home Equity Loan in Group I (other than a Liquidated Loan) and each Due Period, an amount retained by the Servicer or Special Servicer, as applicable, as compensation for servicing and administration duties relating to such Home Equity Loan pursuant to Section 8.15 and equal to one-twelfth of 0.50% of the outstanding principal balance of such Home Equity Loan as of the first day of each Due Period retainable on a monthly basis; provided, however, that if a successor Servicer is appointed pursuant to Section 8.20 hereof, the Group I Servicing Fee shall be the amount as agreed upon by the Trustee, the Certificate Insurer and the successor Servicer, and the per annum rate at which the Group I Servicing Fee is calculated shall not exceed 0.50% per annum.