Sub-Servicing Fees definition

Sub-Servicing Fees. As to each Mortgage Loan, an amount, payable out of any payment of interest on the Mortgage Loan, equal to interest at the Sub-Servicing Fee Rate on the Stated Principal Balance of such Mortgage Loan as of the Due Date in the calendar month preceding the month in which the payment of the Servicing Fee is due (alternatively, in the event such payment of interest accompanies a Principal Prepayment in Full made by the Mortgagor, interest for the number of days covered by such payment of interest).

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Sub-Servicing Fees. With respect to each Mortgage Loan, accrued interest at the Sub-Servicing Fee Rate with respect to the Mortgage Loan on the same principal balance on which interest on the Mortgage Loan accrues for the calendar month. The Sub-Servicing Fees consist of subservicing and other related compensation payable to the related Sub-Servicer or to the Master Servicer if the Master Servicer is directly servicing the loan.

Sub-Servicing Fees. The fees and expenses payable by Seller or Servicer to Sub-Servicer under a Sub-Servicing Agreement.

Examples of Sub-Servicing Fees in a sentence

To the extent the Master Servicer directly services a Mortgage Loan, the Master Servicer shall be entitled to retain the Sub-Servicing Fees for that Mortgage Loan.
The portion of the recovery so allocated to unpaid Master Servicing Fees or Sub-Servicing Fees shall be reimbursed to the Master Servicer or any Sub-Servicer pursuant to Section 3.11(vi).
In addition, the Master Servicer shall be entitled to recover unpaid Master Servicing Fees and Sub-Servicing Fees out of related Late Collections to the extent permitted in Section 3.11.
If the amount of the recovery so allocated to interest is less than a full recovery thereof, that amount will be allocated as follows: first, to unpaid Master Servicing Fees or Sub-Servicing Fees; and second, to interest at the Net Mortgage Rate.
As compensation for its activities hereunder, the Master Servicer shall be entitled to withhold and retain, from deposits to the Custodial Account of amounts representing payments or recoveries of interest, the Master Servicing Fees and Sub-Servicing Fees with respect to each Mortgage Loan (less any portion of such amounts retained by any Sub-Servicer).
If the amount of the recovery so allocated to interest is less than a full recovery thereof, that amount will be allocated as follows: first, to unpaid Master Servicing Fees and Sub-Servicing Fees; and second, to interest at the Net Mortgage Rate.
Each Sub-Servicing Agreement shall permit the related Sub-Servicer to retain the Sub-Servicing Fees from collections on the related Mortgage Loans, or shall provide that the Sub- Servicer be paid directly by the Master Servicer from collections on the related Mortgage Loans.
The portion of the recovery so allocated to unpaid Master Servicing Fees and Sub-Servicing Fees shall be reimbursed to the Master Servicer or any Sub-Servicer pursuant to Section 3.11(vi).
The Sub-Servicer's rights to the Sub-Servicing Fees may not be transferred in whole or in part except in connection with the transfer of all of the Sub-Servicer's responsibilities and obligations under this Agreement.
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More Definitions of Sub-Servicing Fees

Sub-Servicing Fees means, with respect to any Collection Period, the applicable servicing fees and compensation as established pursuant to Section 3.11.

Sub-Servicing Fees means all amounts owing to the Sub-Servicer by the Servicer pursuant to section 4.1 of the Sub-Servicing Agreement.

Sub-Servicing Fees means all amounts owing to the Sub-Servicers by the Servicer pursuant to: (a) section 4.1 of the Millennium Sub-Servicing Agreement; and (b) section 3 of the NCRi Sub-Servicing Agreement. “Subsidiary” means, with respect to any Person, any corporation, partnership, limited liability company, association, or other business entity of which more than fifty percent (50%) of the total voting power of shares of stock or other ownership interests entitled (without regard to the occurrence of any contingency) to vote in the election of the Person or Persons (whether directors, managers, trustees or other Persons performing similar functions) having the power to direct or cause the direction of the management and policies thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof; provided, in determining the percentage of ownership interests of any Person controlled by another Person, no ownership interest in the nature of a “qualifying share” of the former Person shall be deemed to be outstanding. “Successor Servicer” means any Person who enters into an agreement in form and substance satisfactory to the Directing Agent in respect of the servicing or backup servicing, as the case may be, of the Eligible Loan Assets in replacement of the Servicer following a Servicer Termination Event. “Successor Servicer Fees” means the fees owing to any Successor Servicer, provided that such fees shall not be in excess of the Servicing Costs Cap. “Swap Termination Payment” means an early termination payment payable under the Interest Rate Hedge Agreement as a result of an event of default or early termination event thereunder. “Syndication Agent” as defined in the preamble hereto.