Compensating Interest. Not later than the Determination Date, the Servicer shall deposit to the Collection Account an amount equal to the lesser of (A) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Date resulting from Principal Prepayments during the related Prepayment Period and (B) an amount equal to the product of (i) 1/12, (ii) 0.50% and (iii) the Pool Balance as of the first day of the related Due Period. The Servicer shall not have the right to reimbursement for any amounts deposited to the Collection Account pursuant to this Section 5.02.
Appears in 8 contracts
Sources: Pooling and Servicing Agreement (Renaissance Home Equity Loan Tr Asset BKD Cer Series 2002-3), Pooling and Servicing Agreement (Renaissance Mortgage Acceptance Corp), Pooling and Servicing Agreement (Renaissance Home Equity Loan Tr Asset BKD Cer Ser 2002-4)
Compensating Interest. Not later than the Determination Date, the Servicer shall deposit to the Collection Account an amount equal to the lesser of (A) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Date resulting from Principal Prepayments during the related Prepayment Period and (B) an amount equal to the product of (i) 1/12, (ii) the applicable Servicing Fee Rate (but not to exceed 0.50% %) and (iii) the Pool Balance as of the first day of the related Due Period. The Servicer shall not have the right to reimbursement for any amounts deposited to the Collection Account pursuant to this Section 5.02.
Appears in 8 contracts
Sources: Pooling and Servicing Agreement (Renaissance Mort Acc Corp Renaissance Home Eq Ln Tr 2004 1), Pooling and Servicing Agreement (Home Equity Loan Asset-Backed Certificates Series 2003-2), Pooling and Servicing Agreement (Renaissance Mort Accept Corp Home Equity Ln as Bk Ce Se 03-3)
Compensating Interest. Not later than the Determination Date, the Servicer shall deposit to the Collection Account an amount equal to the lesser of (A) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Payment Date resulting from Principal Prepayments in full during the related Prepayment Period and (B) an amount equal to the product of (i) 1/12, (ii) 0.50% the Servicing Fee Rate and (iii) the Pool Balance as of the first day of the related Due Period. The Servicer shall not have the right to reimbursement for any amounts deposited to the Collection Account pursuant to this Section 5.023.14.
Appears in 8 contracts
Sources: Servicing Agreement (Renaissance Home Equity Loan Trust 2006-1, Home Equity Loan Asset-Backed Notes, Series 2006-1), Servicing Agreement (Renaissance Home Equity Loan Trust 2006-2), Servicing Agreement (Renaissance Home Equity Loan Trust 2006-3)
Compensating Interest. Not later than the Determination Date, the Servicer shall remit to the Trustee for deposit to the Collection Account an amount equal to the lesser of (A) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Date resulting from Principal Prepayments during the related Prepayment Due Period and (B) an amount equal to the product of (i) 1/12, (ii) 0.50% and (iii) the Pool Balance as of the first day of its aggregate Servicing Fee received in the related Due Period. The Servicer shall not have the right to reimbursement for any amounts deposited to the Collection Account pursuant to this Section 5.02.
Appears in 5 contracts
Sources: Pooling and Servicing Agreement (Delta Funding Corp /De/), Pooling and Servicing Agreement (Delta Funding Corp /De/), Pooling and Servicing Agreement (Delta Funding Corp /De/)
Compensating Interest. Not later than the Determination Date, the Servicer shall deposit to the Collection Account an amount equal to the lesser of (A) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Payment Date resulting from voluntary Principal Prepayments in full during the related Prepayment Period and (B) an amount equal to the product of (i) 1/12, (ii) 0.50% the Servicing Fee Rate and (iii) the Pool Balance as of the first day of the related Due Period. The Servicer shall not have the right to reimbursement for any amounts deposited to the Collection Account pursuant to this Section 5.023.14.
Appears in 3 contracts
Sources: Servicing Agreement (Renaissance Home Equity Loan Trust 2007-1), Servicing Agreement (Renaissance Home Equity Loan Trust 2006-4), Servicing Agreement (Renaissance Home Equity Loan Trust 2007-2)
Compensating Interest. Not later than the Determination Date, the Servicer shall deposit to the Collection Account an amount equal to the lesser of (A) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Date resulting from voluntary Principal Prepayments in full during the related Prepayment Period and (B) an amount equal to the product of (i) 1/12, (ii) 0.50% the Servicing Fee Rate and (iii) the Pool Balance as of the first day of the related Due Period. The Servicer shall not have the right to reimbursement for any amounts deposited to the Collection Account pursuant to this Section 5.02.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Renaissance Home Equity Loan Trust 2007-3), Pooling and Servicing Agreement (Renaissance Home Equity Loan Trust 2007-3)
Compensating Interest. Not later than the Determination Date, the Servicer shall deposit to the Collection Account an amount equal to the lesser of (A) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Date resulting from Principal Prepayments during the related Prepayment Period and (B) an amount equal to the product of (i) 1/12, (ii) 0.50% and (iii) the Pool Balance as of the first day of its aggregate Servicing Fee for the related Due Period. The Servicer shall not have the right to reimbursement for any amounts deposited to the Collection Account pursuant to this Section 5.02.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Delta Fund Hm Equ Ln 2000-2 Hm Equ Ln Ass BKD CRT Ser 2000-2), Pooling and Servicing Agreement (Delta Funding Corp /De/)
Compensating Interest. Not later than the Determination Date, the Servicer shall deposit to the Collection Account an amount equal to the lesser of (A) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Date resulting from Principal Prepayments in full during the related Prepayment Period and (B) an amount equal to the product of (i) 1/12, (ii) 0.50% the Servicing Fee Rate and (iii) the Pool Balance as of the first day of the related Due Period. The Servicer shall not have the right to reimbursement for any amounts deposited to the Collection Account pursuant to this Section 5.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Renaissance Home Equity Loan Trust 2004-2)
Compensating Interest. Not later than the Determination Date, the Servicer shall deposit to the Collection Account an amount equal to the lesser of (A) the aggregate of the Prepayment Interest Shortfalls for the related Distribution Date resulting from Principal Prepayments in full during the related Prepayment Period and (B) an amount equal to the product of (i) 1/12, (ii) 0.50% the Servicing Fee Rate and (iii) the sum of the Group I Pool Balance and Group II Pool Balance as of the first day of the related Due Period. The Servicer shall not have the right to reimbursement for any amounts deposited to the Collection Account pursuant to this Section 5.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Renaissance Home Equity Loan Trust 2004-4)