Monthly Servicing Fee definition

Monthly Servicing Fee shall have the meaning specified in subsection 3.01.

Monthly Servicing Fee means, for any Collection Period, the fee payable to the Servicer on the following Distribution Date for services rendered during such Collection Period as determined pursuant to Section 3.8 of the Sale and Servicing Agreement.

Monthly Servicing Fee means, as to any Distribution Date, one-twelfth of the product of 1.00% and the Pool Balance as of the beginning of the related Due Period or, with respect to the first Distribution Date after the Closing Date, as of the Cutoff Date.

Examples of Monthly Servicing Fee in a sentence

• The Monthly Servicing Fee shall be paid solely from Available Monies and in accordance with the priorities described in Section 7.05(a) and Section 7.05(b), as applicable.

• No recourse may be had to the Seller, the Trust Depositor, the Trustees, the Servicer, or any of their respective Affiliates in the event that amounts available under Section 7.05(a) or Section 7.05(b), as applicable, are insufficient for payment of the Monthly Servicing Fee and any Indenture Trustee Fee or Asset Representations Reviewer Fee not paid by the Administrator.

• The Indenture Trustee shall be paid the Indenture Trustee Fee, the Asset Representations Reviewer shall be paid the Asset Representations Reviewer Annual Fee and the Asset Representations Reviewer Fee and the Servicer shall be paid the Monthly Servicing Fee.

More Definitions of Monthly Servicing Fee

Monthly Servicing Fee means, for a Payment Date, an amount equal to one-twelfth of the product of (a) the Servicing Fee Rate, times (b) the percentage equivalent of a fraction with a numerator equal to the Floating Investor Percentage for the related Collection Period and a denominator equal to the sum of the “Floating Investor Percentages” for all Series for that Collection Period, times (c) the aggregate principal amount of Receivables on the last day of the prior Collection Period, or for the first Collection Period, the aggregate principal amount of Receivables on the Series Cutoff Date.

Monthly Servicing Fee shall have the meaning specified in Section 3.1.

Monthly Servicing Fee means, as of any Remittance Date, one-twelfth of the product of 0.50% and the Pool Scheduled Principal Balance for the immediately preceding Remittance Date (or, with respect to the first Remittance Date, the Cut-off Date Pool Principal Balance as of the Closing Date).

Monthly Servicing Fee means, for any Collection Period, the fee payable to the Servicer on the related Payment Date for services rendered during such Collection Period, which is equal to the product of 1/12 of 1.00% (or 1/6 of 1.00% in the case of the first Payment Date) and the Pool Balance as of the first day of that Collection Period (or as of the Cutoff Date in the case of the first Payment Date).

Monthly Servicing Fee means, for any Payment Date, with respect to the Loans, one-twelfth of the product of .50% and the Pool Scheduled Principal Balance for the preceding Payment Date (or, in the case of the first Payment Date, the Cut-off Date).

Monthly Servicing Fee means, (i) for the first Distribution Date, the product of the following: the monthly Servicing Rate multiplied by (the number of days remaining in the month of the Closing Date from and including the Closing Date, assuming a 30-day month, divided by 30) multiplied by the Initial Certificate Balance and (ii) for any subsequent Distribution Date, the product of (a) the Certificate Balance on the preceding Distribution Date (after giving effect to any distribution of Monthly Principal made on that such Distribution Date) and (b) the monthly Servicing Rate.

Monthly Servicing Fee. As defined in the Servicing Agreement.