Common use of Further Compensation Clause in Contracts

Further Compensation. Upon resignation by, or termination of the appointment of, the Servicer under the provisions of this Clause 19, the Servicer shall be entitled to receive all fees and other monies accrued up to the date of resignation or termination, as the case may be, but shall not be entitled to any other or further compensation. Such monies so receivable by the Servicer shall be paid by the Mortgages Trustee on the dates on which they would otherwise have fallen due hereunder. For the avoidance of doubt, such resignation or termination shall not affect the Servicer's rights to receive payment of all amounts (if any) due to it from the Mortgages Trustee other than under this Agreement.

Appears in 3 contracts

Sources: Administration Agreement (Granite Finance Funding 2 LTD), Administration Agreement (Granite Finance Trustees LTD), Administration Agreement (Granite Finance Trustees LTD)