Prepayment Interest Shortfalls. (A) If a Prepayment Interest Shortfall occurs in connection with the Beacon Seattle & DC Portfolio Trust Mortgage Loan with respect to any Distribution Date (unless incurred while the Beacon Seattle & DC Portfolio Trust Mortgage Loan is a Specially Serviced Mortgage Loan or Defaulted Mortgage Loan), then the Sub-Servicer shall pay to the Master Servicer (out of the Sub-Servicer's own funds without right of reimbursement therefor) a compensating interest payment in the amount of such Prepayment Interest Shortfall; provided, however, that the Sub-Servicer shall ------- not be required to pay such compensating interest payment in an amount in excess of the product of (1) the aggregate "compensating interest payment" that is required to be made for the applicable Distribution Date by the Master Servicer in connection with all mortgage loans serviced by the Master Servicer under the PSA and (2) the ratio of (a) the Prepayment Interest Shortfall occurring in connection with the Beacon Seattle & DC Portfolio Trust Mortgage Loan for such Distribution Date that is taken account of in the calculation of such compensating interest payment that is required to be made by the Master Servicer in connection with all mortgage loans serviced by the Master Servicer under the PSA to (b) the aggregate of the Prepayment Interest Shortfalls for such Distribution Date for all mortgage loans serviced by the Master Servicer under the PSA that are taken account of in the calculation of such compensation interest payment. Any payment required to be made by the Sub-Servicer as described above shall be remitted to the Master Servicer on the Sub-Servicer Remittance Date immediately preceding the related Distribution Date for which the applicable Prepayment Interest Shortfall arose. If any amounts similar to Prepayment Interest Shortfalls are required to be paid by a primary servicer of the Companion Loans to any Companion Holder under the terms of an Intercreditor Agreement, then the Sub-Servicer shall pay such amount to such Companion Holder as and when due under the terms of such Intercreditor Agreement. If the aggregate amount of all Prepayment Interest Excesses for any Distribution Date occurring in connection with all mortgage loans serviced by the Master Servicer under the PSA exceeds the aggregate amount of all Prepayment Interest Shortfalls for such Distribution Date occurring in connection with all mortgage loans serviced by the Master Servicer under the PSA, the Sub-Servicer shall be entitled to retain the product of (1) any Prepayment Interest Excess for such Distribution Date occurring in connection with the Beacon Seattle & DC Portfolio Trust Mortgage Loan and (2) the ratio of (a) such Prepayment Interest Excess for such Distribution Date occurring in connection with the Beacon Seattle & DC Portfolio Trust Mortgage Loan to (b) the aggregate amount of all Prepayment Interest Excesses for such Distribution Date occurring in connection with all mortgage loans serviced by the Master Servicer under the PSA.
Appears in 2 contracts
Sources: Sub Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq14), Sub Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq14)