Compensation to the Master Servicer. Pursuant to Section 4.07(e), all income and gain realized from any investment of funds in the Collection Account shall be for the benefit of the Master Servicer as compensation. The provisions of this Section 4.22 are subject to the provisions of Section 6.01. Servicing compensation in the form of assumption fees, if any, late payment charges, as collected, if any, or otherwise (but not including any Prepayment Premium) shall be retained by the Master Servicer (or the applicable Servicer) and shall not be deposited in the Collection Account. The Master Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder and shall not be entitled to reimbursement therefor except as provided in this Agreement.
Appears in 9 contracts
Sources: Sale and Servicing Agreement (Thornburg Mortgage Securities Corp), Transfer and Servicing Agreement (SASCO Mortgage Loan Trust 2004-Gel3), Transfer and Servicing Agreement (Sasco Mortgage Loan Trust Series 2004-Gel2)
Compensation to the Master Servicer. Pursuant to Section 4.07(e), all income and gain realized from any investment of funds in the Collection Account shall be for the benefit of the Master Servicer as compensationcompensation for its services hereunder. The provisions of this Section 4.22 are subject to the provisions of Section 6.01. Servicing compensation in the form of assumption fees, if any, late payment charges, as collected, if any, or otherwise (but not including any Prepayment Premium) shall be retained by the Master Servicer (or the applicable Servicer) and shall not be deposited in the Collection Account. The Master Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder and shall not be entitled to reimbursement therefor except as provided in this Agreement.
Appears in 1 contract
Sources: Transfer and Servicing Agreement (Lehman ABS Corp. Home Equity Loan Trust 2005-1)