Servicer Compensating Interest definition

Servicer Compensating Interest. With respect to each Distribution Date, the least of (a) the aggregate Servicing Fee for such Distribution Date (before giving effect to any reduction pursuant to Section 3.17), (b) the Prepayment Interest Shortfall for such Distribution Date and (c) one-twelfth of 0.25% of the Pool Stated Principal Balances of the Loan Groups.
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Servicer Compensating Interest is hereby replaced in its entirety with the following:
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Servicer Compensating Interest. With respect to each Distribution Date and the 30 Year Crossed Loan Groups and 15 Year Crossed Loan Groups, the least of (a) the aggregate Servicing Fee for such Distribution Date relating to the 30 Year Crossed Loan Groups in the aggregate or the 15 Year Crossed Loan Groups in the aggregate (before giving effect to any reduction pursuant to Section 3.17), (b) the Prepayment Interest Shortfall for such Distribution Date and the 30 Year Crossed Loan Groups in the aggregate and the 15 Year Crossed Loan Groups in the aggregate and (c) one-twelfth of 0.25% of the Pool Stated Principal Balance of the 30 Year Crossed Loan Groups in the aggregate or the 15 Year Crossed Loan Groups in the aggregate, as the case may be.
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Examples of Servicer Compensating Interest in a sentence

  • The amount of the aggregate Master Servicing Fees payable to the Master Servicer in respect of any Distribution Date shall be reduced (but not below zero) by the amount of any Master Servicer Compensating Interest Payment for such Distribution Date.

  • The Servicer shall be entitled out of each payment of interest on a Mortgage Loan (or portion thereof) and included in the Trust Estate to retain or withdraw from the Servicer Custodial Account an amount equal to the Servicing Fee for such Distribution Date; provided, however, that the aggregate Servicing Fee for the Servicer relating to the Mortgage Loans for such Distribution Date shall be reduced (but not below zero) by an amount equal to the Servicer Compensating Interest for such Distribution Date.

  • Notwithstanding the foregoing, the Servicing Compensation for the Servicer relating to the Mortgage Loans for such Distribution Date shall be reduced (but not below zero) by amount equal to the Servicer Compensating Interest.

  • As to any Distribution Date and the Master Servicer, the lesser of (1) the Master Servicing Fee for such date and (2) any Prepayment Interest Shortfalls for such date (to the extent such Prepayment Interest Shortfalls are required to be paid but are not actually paid by the Servicers (other than Cenlar FSB) or the Servicing Administrator as a Servicer Compensating Interest Payment).

  • The Servicer shall be entitled out of each payment of interest on a Mortgage Loan (or portion thereof) and included in the Trust Estate to retain or withdraw from the Servicer Custodial Account an amount equal to the Servicing Fee for such Distribution Date; provided, however, that the aggregate Servicing Fee for the Servicer relating to the Mortgage Loans shall be reduced (but not below zero) by an amount equal to the Servicer Compensating Interest.

  • Notwithstanding the foregoing, the Servicing Compensation for the Servicer relating to the Mortgage Loans in a Loan Group for such Distribution Date shall be reduced (but not below zero) by an amount equal to the Servicer Compensating Interest.

  • The Servicer shall be entitled out of each payment of interest on a Mortgage Loan (or portion thereof) and included in the Trust Estate to retain or withdraw from the Servicer Custodial Account an amount equal to the Servicing Fee for such Distribution Date; provided, however, that the aggregate Servicing Fee for the Servicer relating to the Mortgage Loans in a Loan Group for such Distribution Date shall be reduced (but not below zero) by an amount equal to the Servicer Compensating Interest.

  • Notwithstanding the foregoing, the Servicing Compensation for the Servicer relating to the Mortgage Loans in a Loan Group for such Distribution Date shall be reduced (but not below zero) by amount equal to the Servicer Compensating Interest for such Loan Group.

  • As to any Distribution Date and the Master Servicer, the lesser of (1) the Master Servicing Fee for such date and (2) any Prepayment Interest Shortfalls for such date (to the extent such Prepayment Interest Shortfalls are required to be paid but are not actually paid by the Servicers as a Servicer Compensating Interest Payment).

  • Notwithstanding the foregoing, the Servicing Compensation for the Servicer relating to the Mortgage Loans for such Distribution Date shall be reduced (but not below zero) by an amount equal to the Servicer Compensating Interest.


More Definitions of Servicer Compensating Interest

Servicer Compensating Interest. With respect to each Distribution Date and Loan Group 1, the Crossed Loan Groups or Loan Group 3, the least of (a) the aggregate Servicing Fee for such Distribution Date relating to Loan Group 1, the Crossed Loan Groups in the aggregate or Loan Group 3 (before giving effect to any reduction pursuant to Section 3.17), (b) the Prepayment Interest Shortfall for such Distribution Date and Loan Group 1, the Crossed Loan Groups in the aggregate or Loan Group 3 and (c) one-twelfth of 0.25% of the Pool Stated Principal Balance of Loan Group 1, the Crossed Loan Groups in the aggregate or Loan Group 3, as the case may be.
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Servicer Compensating Interest. With respect to each Distribution Date and the 30 Year Crossed Loan Groups and Loan Group 4, the least of (a) the aggregate Servicing Fee for such Distribution Date relating to the 30 Year Crossed Loan Groups in the aggregate or Loan Group 4 (before giving effect to any reduction pursuant to Section 3.17), (b) the Prepayment Interest Shortfall for such Distribution Date and the 30 Year Crossed Loan Groups in the aggregate and Loan Group 4, as applicable, and (c) one-twelfth of 0.25% of the Pool Stated Principal Balance of the 30 Year Crossed Loan Groups in the aggregate or Loan Group 4, as applicable.
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Servicer Compensating Interest. With respect to each Distribution Date and Loan Group 1, the Crossed Loan Groups, Loan Group 3 or Loan Group 5, the least of (a) the aggregate Servicing Fee for such Distribution Date relating to Loan Group 1, the Crossed Loan Groups in the aggregate, Loan Group 3 or Loan Group 5 (before giving effect to any reduction pursuant to Section 3.17), (b) the Prepayment Interest Shortfall for such Distribution Date and Loan Group 1, the Crossed Loan Groups in the aggregate, Loan Group 3 or Loan Group 5 and (c) one-twelfth of 0.25% of the Pool Stated Principal Balance of Loan Group 1, the Crossed Loan Groups in the aggregate, Loan Group 3 or Loan Group 5, as the case may be.
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Servicer Compensating Interest. With respect to each Distribution Date and Loan Group 1, the CA-Crossed Loan Groups or 15-Year Crossed Loan Groups, the least of (a) the aggregate Servicing Fee for such Distribution Date relating to Loan Group 1, the CA-Crossed Loan Groups in the aggregate or the 15 Year Crossed Loan Groups in the aggregate (before giving effect to any reduction pursuant to Section 3.17), (b) the Prepayment Interest Shortfall for such Distribution Date and Loan Group 1, the CA-Crossed Loan Groups in the aggregate and the 15 Year Crossed Loan Groups in the aggregate and (c) one-twelfth of 0.25% of the Pool Stated Principal Balance of Loan Group 1, the CA-Crossed Loan Groups in the aggregate or the 15 Year Crossed Loan Groups in the aggregate, as the case may be.
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Related to Servicer Compensating Interest

  • Compensating Interest As defined in Section 3.24 hereof.

  • Available Master Servicer Compensation With respect to any Distribution Date, the sum of (a) the Master Servicing Fee for such Distribution Date, (b) interest earned through the business day preceding the applicable Distribution Date on any Prepayments in Full remitted to the Master Servicer and (c) the aggregate amount of Month End Interest remitted by the Servicers to the Master Servicer pursuant to the related Servicing Agreements.

  • Master Servicer Remittance Amount With respect to each Master Servicer Remittance Date, an amount equal to (a) all amounts on deposit in the Collection Account (including any amount in any Serviced A/B Loan Combination Custodial Account allocable to the related Serviced Mortgage Loan in the related Serviced A/B Loan Combination) as of 11:00 a.m., New York City time, on such Master Servicer Remittance Date, net of (b) any portion of the amounts described in clause (a) of this definition that represents one or more of the following: (i) collected Monthly Payments with respect to any Mortgage Loan that are due on a Due Date following the end of the related Collection Period, (ii) to the extent not covered by clause (i) above, any payments of principal (including Principal Prepayments) and interest, Insurance Proceeds, Condemnation Proceeds and Liquidation Proceeds Received by the Trust with respect to any Mortgage Loan or REO Property after the end of the related Collection Period, (iii) any Prepayment Premiums and/or Yield Maintenance Charges Received by the Trust with respect to any Mortgage Loan or successor REO Mortgage Loan with respect thereto after the end of the related Collection Period, (iv) any Excess Liquidation Proceeds, (v) any amounts payable or reimbursable to any Person from the Collection Account pursuant to clauses (ii) through (xxii) of Section 3.05(a)(I), and (vi) any amounts deposited in the Collection Account in error; provided that the Master Servicer Remittance Amount for the Master Servicer Remittance Date that occurs in the same calendar month as the anticipated Final Distribution Date shall be calculated without regard to clauses (b)(i), (b)(ii), (b)(iii) and (b)(iv) of this definition.

  • Compensating Interest Payments Any payment required to be made by the Master Servicer pursuant to Section 3.13 of this Agreement to cover Prepayment Interest Shortfalls.

  • Master Servicing Compensation The meaning specified in Section 3.14.

  • Primary Servicing Fee means, with respect to each Mortgage Loan and REO Mortgage Loan, the fee payable to the Primary Servicer pursuant to Section 3.01(c)(20) of this Agreement.

  • Master Servicer Remittance Date With respect to any Distribution Date, the Business Day immediately preceding such Distribution Date.

  • Excess Servicing Fees With respect to each Mortgage Loan (including an REO Mortgage Loan), that portion of the Servicing Fee that accrues at a per annum rate equal to the Excess Servicing Fee Rate.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Master Servicing Fee As to any Distribution Date, an amount equal to one-twelfth the product of (a) the Master Servicing Fee Rate and (b) the outstanding principal balance of each Mortgage Loan. Master Servicing Fee Rate: 0.00% per annum.

  • Master Servicer Servicing Personnel The divisions and individuals of the Master Servicer who are involved in the performance of the duties of the Master Servicer under this Agreement.

  • Compensating Interest Payment As defined in Section 6.06.

  • Monthly Servicing Fee shall have the meaning specified in subsection 3.01.

  • Servicing Compensation With respect to each Distribution Date, the sum of (i) the aggregate Servicing Fee for such Distribution Date subject to reduction as provided in Section 3.17, (ii) any Ancillary Income, (iii) Excess Proceeds for the preceding month and (iv) the Servicer Custodial Account Reinvestment Income for such Distribution Date.

  • Servicer Remittance Date With respect to any Distribution Date, the 18th day of the calendar month in which such Distribution Date occurs or, if such 18th day is not a Business Day, the Business Day immediately following.

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

  • Master Servicer Collection Account The trust account or accounts created and maintained pursuant to Section 4.02, which shall be denominated "JPMorgan Chase Bank, as Trustee f/b/o holders of Structured Asset Mortgage Investments Inc., Bear Stearns ARM Trust, Mortgage Pass- Thrxxxx Xxrtificates, Series 2003-1 - Master Servicer Collection Account." The Master Servicer Collection Account shall be an Eligible Account.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Servicing Fee means the fee payable to the Servicer for services rendered during each Collection Period, determined pursuant to Section 4.08 of the Sale and Servicing Agreement.

  • Special Servicer Servicing Personnel The divisions and individuals of the Special Servicer who are involved in the performance of the duties of the Special Servicer under this Agreement.

  • Excess Servicing Fee For each calendar month, as to each Mortgage Loan, the portion of the related Excess Servicing Fee Rate applicable to such month (determined in the same manner as the applicable Mortgage Rate determined for such Mortgage Loan for such month) multiplied by the Scheduled Principal Balance of such Mortgage Loan immediately before the Due Date occurring in such month, but prorated for the number of days during the calendar month for such Mortgage Loan for which interest actually accrues on such Mortgage Loan and only from collections on such Mortgage Loan.

  • Subservicing Fee As to any Mortgage Loan, the fee payable monthly to the related Subservicer (or, in the case of a Nonsubserviced Mortgage Loan, to the Master Servicer) in respect of subservicing and other compensation that accrues at an annual rate equal to the excess of the Mortgage Rate borne by the related Mortgage Note over the rate per annum designated on the Mortgage Loan Schedule as the "CURR NET" for such Mortgage Loan.

  • Class B Servicing Fee shall have the meaning specified in Section 3.01.

  • Basic Servicing Fee means the fee payable pursuant to Section 3.09 to the Servicer on each Payment Date for services rendered during the related Collection Period, which shall be equal to one-twelfth of the Servicing Fee Rate multiplied by the Pool Balance as of the first day of the related Collection Period or, with respect to the first Payment Date, the Original Pool Balance.

  • Special Servicing Compensation With respect to any Serviced Mortgage Loan, Serviced Loan Combination or REO Property (other than an REO Property related to an Outside Serviced Mortgage Loan), any of the Special Servicing Fee, the Workout Fee, and the Liquidation Fee which shall be due to the Special Servicer.

  • Initial Monthly Payment Fund An amount representing scheduled principal amortization and interest at the Net Mortgage Rate for the Due Date in the first Due Period commencing subsequent to the Cut-off Date for those Mortgage Loans for which the Trustee will not be entitled to receive such payment, and as more specifically defined in the Series Supplement.