Servicing and Other Compensation. The Servicer, as compensation for its activities hereunder, shall be entitled to receive, on or prior to each Distribution Date, the amounts provided for as the Servicing Fee and as reimbursement for Nonrecoverable Advances, Servicing Advances and reimbursement for Advances, all as specified by Section 5.09. The amount of compensation or reimbursement provided for shall be accounted for on a Mortgage Loan-by-Mortgage Loan basis. Additional servicing compensation in the form of assumption fees, prepayment fees and late payment charges shall be retained by the Servicer, to the extent permitted by applicable law. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees and expenses of the Trustee and any Sub-Servicer) and shall not be entitled to reimbursement therefor except as specifically provided in Sections 5.09 and 5.21.
Servicing and Other Compensation. 63 Section 5.24. 1934 Act Reports.................................................................63 Section 5.25. Annual Statement as to Compliance................................................64 Section 5.26. Annual Independent Public Accountants' Servicing Report..........................64 Section 5.27. Access to Certain Documentation; Rights of the Depositor in Respect of the Servicer.....................................................................64 Section 5.28. REMIC-Related Covenants..........................................................65
Servicing and Other Compensation. Compensating Interest. (See Section 3.16 of the Standard Terms)
Servicing and Other Compensation. The Servicer, as compensation for its activities hereunder including the payment of fees and expenses of the Trustee, the Certificate Administrator and the Paying Agent pursuant to Section 9.05, shall be entitled to receive on each Distribution Date the Monthly Servicing Fee and Repossession Profits pursuant to Section 5.03. Additional servicing compensation in the form of Late Payment Fees or Extension Fees and any transfer of equity or assumption fees shall be retained by the Servicer. The Servicer shall not be reimbursed for its costs and expenses in servicing the Contracts except as otherwise expressly provided herein. No transfer, sale pledge or other disposition of the Servicer's right to receive all or any portion of the Monthly Servicing Fee shall be made, and any such attempted transfer, sale, pledge or other disposition shall be void, unless such transfer is made to a successor Servicer in connection with the assumption by such successor Servicer of the duties hereunder pursuant to Section 7.07 and all (and not a portion) of the Monthly Servicing Fee is transferred to such successor Servicer.
Servicing and Other Compensation. The Servicer, as compensation for its activities hereunder including, without limitation, the payment of fees and expenses of the Trustee pursuant to Section 10.05, shall be entitled to receive on each Remittance Date the Monthly Servicing Fee pursuant to, and to the extent provided in, Section 6.02. In addition, the Servicer may obtain any additional compensation permitted pursuant to this Agreement. Additional servicing compensation in the form of Late Payment Fees or Extension Fees and any transfer of equity or assumption fees shall be retained by the Servicer. The Servicer shall not be reimbursed for its costs and expenses in servicing the Contracts except as provided pursuant to Sections 5.06, 5.09 and 5.13.
Servicing and Other Compensation. 60 Section 5.16 Custody of Contracts............................................................. 60 Section 5.17
Servicing and Other Compensation. 55 Section 5.24. 1934 Act Reports.................................................................56 Section 5.25. Annual Statement as to Compliance................................................56 Section 5.26. Annual Independent Public Accountants' Servicing Report..........................56 Section 5.27. Access to Certain Documentation; Rights of the Depositor in Respect of the Servicer.....................................................................57 Section 5.28. REMIC-Related Covenants..........................................................57 ARTICLE VI PAYMENTS TO THE CERTIFICATEHOLDERS............................................................58 Section 6.01. Distributions....................................................................58 Section 6.02. Statements to the Certificateholders.............................................62 Section 6.03. Advances by the Servicer.........................................................64 Section 6.04. Allocation of Realized Losses....................................................64 Section 6.05. Compensating Interest; Allocation of Certain Interest Shortfalls.................65 Section 6.06. Subordination....................................................................66
Servicing and Other Compensation. Section 5.24.
Servicing and Other Compensation. Each Servicer, as compensation for its activities hereunder, shall be entitled to receive, on or prior to each Distribution Date, the amounts provided for as the Servicing Fee with respect to Mortgage Loans serviced by it and as reimbursement for Nonrecoverable Advances, Servicing Advances and reimbursement for Advances with respect to Mortgage Loans serviced by it, all as specified by Section 5.09. The amount of compensation or reimbursement provided for shall be accounted for on a Mortgage Loan-by-Mortgage Loan basis. Additional servicing compensation in the form of assumption fees, prepayment fees and late payment charges shall be retained by each Servicer with respect to Mortgage Loans serviced by it, to the extent permitted by applicable law. Each Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including the fees and expenses of the Trustee and any Sub-Servicer) and shall not be entitled to reimbursement therefor except as specifically provided in Sections 5.09 and 5.21.
Servicing and Other Compensation. COMPENSATING INTEREST].
(a) The Servicer, as compensation for its activities hereunder, shall be entitled to receive on each Distribution Date the amounts provided for by CLAUSES (III), (IV) and (V) of SECTION 3.10(A), subject to CLAUSE (E) below. The amount of servicing compensation provided for in such clauses shall be accounted for on a Mortgage Loan-by-Mortgage Loan basis. In the event that Liquidation Proceeds, Insurance Proceeds and REO Proceeds (net of amounts reimbursable therefrom pursuant to SECTION 3.10(A)(II)) in respect of a Cash Liquidation or REO Disposition exceed the unpaid principal balance of such Mortgage Loan plus unpaid interest accrued thereon (including REO Imputed Interest) at the related Net Mortgage Rate, the Servicer shall be entitled to retain therefrom and to pay to itself and/or the related Subservicer any Servicing Fee or Subservicing Fee considered to be accrued but unpaid.
(b) Additional servicing compensation in the form of prepayment charges, assumption fees, late payment charges, investment income on amounts in the Custodial Account or the Certificate Account or otherwise shall be retained by the Servicer or the Subservicer to the extent provided herein, [subject to CLAUSE (E) below].
(c) The Servicer shall be required to pay, or cause to be paid, all expenses incurred by it in connection with its servicing activities hereunder (including payment of premiums for the Primary Insurance Policies, if any, to the extent such premiums are not required to be paid by the related Mortgagors, and the fees and expenses of the Trustee and any Custodian) and shall not be entitled to reimbursement therefor except as specifically provided in SECTIONS 3.10 and 3.14.
(d) The Servicer's right to receive servicing compensation may not be transferred in whole or in part except in connection with the transfer of all of the responsibilities and obligations of the Servicer under this Agreement.
(e) [Notwithstanding CLAUSES (A) and (B) above, the amount of servicing compensation that the Servicer shall be entitled to receive for its activities hereunder for the one-month period ending on each Distribution Date shall be reduced (not below zero) by an amount equal to Compensating Interest (if any) for such Distribution Date and the Servicer shall not be entitled to servicing compensation to the extent of such reduction. Such reduction shall be applied during such period as follows: first, to any Servicing Fee to which the Servicer is entitled pu...
