Credit Enhancement Fees Sample Clauses

Credit Enhancement Fees. For each Master Commitment, in consideration of the obligation of the PFI to fund a Realized Loss pursuant to Section 4.3(a) (iii), the Bank shall pay to the PFI monthly a Credit Enhancement Fee determined in accordance with the Guides, based upon the Credit Enhancement Fee rate applicable to such Master Commitment, subject, however, to the terms of the MPF Mortgage Product and Master Commitment which may include, but are not limited to, performance or risk participation features or a delay in payment of such Credit Enhancement Fees.
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Credit Enhancement Fees. In consideration for the Borough's agreement in Section 1 hereof, and of the Authority's current financial position and desire to plan for future contingencies as set forth in the recitals above, the Authority hereby agrees to pay to the Borough a Credit Enhancement Fee for calendar year 2023 in the amount of $125,000, payable in quarterly installments, commencing January 1, 2023. The renewal of a Credit Enhancement Fee after calendar year 2023 shall be subject to reconsideration by the Authority not later than November 1, 2023.
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Credit Enhancement Fees. With respect to each Credit Enhancement provided by Lender hereunder, Borrower agrees to pay Lender a fee accruing at a rate per annum equal to two and one-half percent (2.5%) of the maximum Credit Enhancement Contingent Liabilities of Borrower to Lender outstanding from time to time under each such Credit Enhancement, payable in arrears (A) on the first day of each calendar month commencing on the first such day following the issuance of each such Credit Enhancement and (B) on the Termination Date; provided, that the fee accruing on the portion of the aggregate Credit Enhancements Contingent Liabilities that is equal to the Deposited Cash Collateral shall be equal to one and a quarter percent (1.25%), provided, further, that during the continuance of an Event of Default, all of such fees shall be increased by two percent (2%) per annum and shall be payable on demand.
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Credit Enhancement Fees. Certain products offered under the Program provide for performance-based Credit Enhancement Fees. Because the Participation Interests in a Master Commitment are subject to change until the Master Commitment is filled or expires and thereafter, different Designated Delivery Commitments may experience different prepayment rates, then it is possible that the Lead Bank or the Participant Bank might incur Realized Losses which may be recovered by the reduction of future Credit Enhancement Fees in a different proportion than the parties subsequent obligations to pay Credit Enhancement Fees to the PFI. In such an event, any excess Credit Enhancement Fee shall be allocated among the Lead Bank and the Participant Bank to offset previously incurred Realized Losses rather than be paid to the PFI. For example, if only the Lead Bank incurred $10,000 of Realized Losses in the prior month with respect to a Master Commitment, and in the current month the Credit Enhancement Fee otherwise payable to the PFI would be $12,000 of which $9,000 is attributable to the Lead Bank’s interest in the Master Commitment and $3,000 is attributable to the new Participation Interest of the Participant Bank, the Participant Bank shall pay the PFI a $2,000 Credit Enhancement Fee and the Lead Bank the balance of $ 1,000. The administration of Credit Enhancement Fees under the Agreement is illustrated in Exhibit C to this Agreement.
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Credit Enhancement Fees. (a) Borrower hereby agrees to pay to GECC a nonrefundable credit enhancement fee for each year or portion thereof that the Letter of Credit remains outstanding (collectively, the “Credit Enhancement Fees”). The first Credit Enhancement Fee shall be in the amount of $514,471.22, due on the Closing Date and cover the period from the Closing Date through June 1, 2009. Thereafter, (i) Borrower shall pay GECC a Credit Enhancement Fee in an amount equal to .70% of the then Stated Amount (without regard to any reductions in the Stated Amount of the Letter of Credit which are subject to reinstatement); and (ii) the Credit Enhancement Fees shall be due and payable by Borrower semi-annually, in advance, on June 1, 2009 and continuing on each December 1 and June 1 of each year during the term of the Letter of Credit. Once payable, all Credit Enhancement Fees shall be nonrefundable to Borrower under all circumstances.
Sample 1
Credit Enhancement Fees. With respect to each Credit Enhancement provided by Lender hereunder, Borrower agrees to pay Lender a fee accruing at a rate per annum equal to two and one-half percent (2.5%) of the maximum Credit Enhancement Contingent Liability of Borrower to Lender outstanding from time to time under such Credit Enhancement, payable in arrears (A) on the first day of each calendar month commencing on the first such day following the issuance of such Credit Enhancement and (B) on the Termination Date; provided, however, that during the continuance of an Event of Default, such fee shall be increased by two percent (2%) per annum and shall be payable on demand.
Sample 1
Credit Enhancement Fees. The Senior Notes Trustee and the Subordinated Note Holder agree that so long as no Default or Event of Default has occurred and is continuing and so long as the Authority is in compliance with the Liquidity Requirement, the Authority shall pay current installments of the Credit Enhancement Fee under the Loan Agreement to the Subordinated Note Holder out of the Operating Account. In the event a Default or Event of Default has occurred and is continuing or the Authority is not in compliance with the Liquidity Requirement, the Credit Enhancement Fee shall not be paid to the Subordinated Note Holder but shall be suspended until the Authority shall have made all payments of interest due under the Senior Notes, at which time the Authority shall pay all delinquent and then current installments of the Credit Enhancement Fee to the Subordinated Note Holder out of the Operating Account so long as the Liquidity Requirement remains satisfied following such payment.
Sample 1
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Related to Credit Enhancement Fees

  • Credit Enhancement 55 SECTION 12.

  • Supplemental Credit Enhancement Event Upon the occurrence of a Supplemental Credit Enhancement Event, Greenwood as Servicer shall, within 60 days of notice from Standard & Poor's of the withdrawal or downgrade (or such longer period as may be agreed to by Standard & Poor's), arrange for the payment of the Supplemental Credit Enhancement Amount, if any, by a Person other than Greenwood (or from Series Excess Servicing) to the Trustee as administrator of the Credit Enhancement for application in accordance with the provisions of the Credit Enhancement Agreement. Both the form and the provider of the Supplemental Credit Enhancement Amount, if any, shall be determined at the time it is to be paid; provided, that the Master Servicer shall have received confirmation from Standard & Poor's that the arrangements with respect to the Supplemental Credit Enhancement Amount, if any, will not result in the rating of the Investor Certificates of the Series established hereby being withdrawn or lowered. In addition to the foregoing, the Master Servicer shall notify Moodx'x xx the occurrence of a Supplemental Credit Enhancement Event as soon as practicable after such occurrence, and shall notify Moodx'x xx advance of its implementation of the form and provider of the Supplemental Credit Enhancement Amount, if any.

  • Investment Earnings and Supplemental Servicing Fees The Servicer shall be entitled to receive all Investment Earnings and Supplemental Servicing Fees when and as paid without any obligation to the Owner Trustee, the Indenture Trustee or the Depositor in respect thereof. The Servicer will have no obligation to deposit any such amount in any account established hereunder. To the extent that any such amount shall be held in any account held by the Indenture Trustee or the Owner Trustee, or otherwise established hereunder, such amount will be withdrawn therefrom and paid to the Servicer upon presentation of a certificate signed by a Responsible Officer of the Servicer setting forth, in reasonable detail, the amount of such Investment Earnings or Supplemental Servicing Fees.

  • Reserve Account Draw Amount On or before two Business Days before a Payment Date, the Servicer will calculate the Reserve Account Draw Amount for the Payment Date and will direct the Indenture Trustee to withdraw from the Reserve Account and deposit the Reserve Account Draw Amount into the Collection Account on or before the Payment Date.

  • Primary Servicing Fee; Carryover Servicing Fee The Primary Servicing Fee for each calendar month and any Carryover Servicing Fees payable on any Distribution Date in arrears by the Issuer shall be equal to the amounts determined by reference to the schedule of fees attached hereto as Attachment A. Notwithstanding anything to the contrary contained herein or in any other Basic Document, the Servicer shall be entitled to receive any Carryover Servicing Fee on any Distribution Date only if and to the extent that sufficient funds are available pursuant to Section 2.8(i) of the Administration Agreement.

  • Master Servicer Collection Account (a) The Master Servicer shall establish and maintain in the name of the Trustee, for the benefit of the Certificateholders, the Master Servicer Collection Account as a segregated trust account or accounts. The Master Servicer Collection Account shall be an Eligible Account. The Master Servicer will deposit in the Master Servicer Collection Account as identified by the Master Servicer and as received by the Master Servicer, the following amounts:

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