Servicing Fee Account definition

Servicing Fee Account. An account established by Subservicer into which all Servicing Fees payable to KRECM pursuant to each PSA are deposited as set forth in Section 3.01(k).
Sample 1Sample 2Sample 3

Examples of Servicing Fee Account in a sentence

  • In the event there are insufficient funds to pay the Floor Component Amount for any month, the Subservicer shall be entitled to withdraw the amount of any deficiency from the Servicing Fee Account to the extent of any excess funds are remaining in such account after payment of the Base Legacy Servicing Compensation and Base Future Servicing Compensation, as applicable.

  • In the event that there are insufficient funds in the Servicing Fee Account to pay the Base Legacy Servicing Compensation and Base Future Servicing Compensation, as applicable for any month, the Subservicer shall be entitled to withdraw the amount of any deficiency from the Ancillary Fee Account provided there are excess funds in such account after payment of the Floor Component Amount in any month.

  • If the funds in the Ancillary Fee Account and any remaining funds in the Servicing Fee Account are insufficient to pay the Floor Component Amount in any month, the Subservicer shall send an invoice via email to KRECM portfolio manager for the balance to KRECM and KRECM shall pay such invoice within ten (10) Business Days of receipt of such invoice by wire transfer of funds pursuant to the wire transfer instructions provided by Subservicer to KRECM from time to time.

  • Each month by 2:00 p.m. (New York City time) on the Subservicer Remittance Date, the Subservicer shall deposit into the Servicing Fee Account all amounts constituting Servicing Fees due to KRECM with respect to the related PSA.

  • The Servicer shall deposit such funds into the Incentive Servicing Fee Account pursuant to subsection 4.05(a)(viii).

Related to Servicing Fee Account

  • 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.

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

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

  • Special Servicing Fee shall have the meaning given to such term in the Servicing Agreement.

  • Servicing Fee As to any Distribution Date and each Mortgage Loan, an amount equal to the product of (a) one-twelfth of the Servicing Fee Rate and (b) the outstanding principal balance of such Mortgage Loan as of the first day of the related Collection Period.

  • Special Servicing Fees shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Servicing Fees With respect to each Mortgage Loan and REO Loan, the Master Servicing Fee and the Special Servicing Fee.

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

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

  • 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 II Inc., Bear Xxxxxxx ALT-A Trust 2004-8, Mortgage Pass-Through Certificates, Series 2004-8 - Master Servicer Collection Account," and which shall be an Eligible Account.

  • Collateral Servicing Fee shall have the meaning set forth in Section 3.01.

  • Servicer Account means any account established by Servicer in connection with the servicing of the Mortgage Loans.

  • Servicing Account The account or accounts created and maintained pursuant to Section 3.09.

  • 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.

  • 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.

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • 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.

  • Primary Servicer Collection Account shall have the meaning set forth in Section 3.01(c)(7) of this Agreement.

  • General Servicing Fee With respect to each Due Period and any Mortgage Loan, an amount equal to one-twelfth the product of (i) the General Servicing Fee Rate and (ii) the outstanding principal balance of such Mortgage Loan as of the related Determination Date. The General Servicing Fee is payable solely from, the interest portion (including recoveries with respect to interest from Liquidation Proceeds to the extent permitted by Section 3.02 of this Agreement) of such Monthly Payments collected by the Servicer, or as otherwise provided under this Agreement. General Servicing Fee Rate: 0.50% per annum.

  • Sub-Servicing Account An account established by a Sub-Servicer which meets the requirements set forth in Section 3.08 and is otherwise acceptable to the Master Servicer.

  • Custodial P&I Account The Custodial P&I Account, as defined in each of the Servicing Agreements, with respect to the Mortgage Loans. In determining whether the Custodial P&I Account under any Servicing Agreement is "acceptable" to the Master Servicer (as may be required by the definition of "Eligible Account" contained in the Servicing Agreements), the Master Servicer shall require that any such account shall be acceptable to each of the Rating Agencies. Custodian: Initially, the Trustee, and thereafter the Custodian, if any, hereafter appointed by the Trustee pursuant to Section 8.13, or its successor in interest under the Custodial Agreement. The Custodian may (but need not) be the Trustee or any Person directly or indirectly controlling or controlled by or under common control of the Trustee. Neither a Servicer, nor the Seller nor the Master Servicer nor any Person directly or indirectly controlling or controlled by or under common control with any such Person may be appointed Custodian.

  • Subservicing Account An account established by a Subservicer in accordance with Section 3.08.

  • Noteholder Servicing Fee is defined in Section 3.1.

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • 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.

  • Total Servicing Fee means the sum of the Basic Servicing Fee and the Supplemental Servicing Fee.