Examples of Servicing Fee in a sentence
The Servicing Fee for a Payment Date shall equal the product of (a) one-twelfth, (b) the Servicing Fee Rate and (c) the aggregate Principal Balance of the Receivables as of the first day of the related Collection Period; provided, however, that the Servicing Fee on the initial Payment Date shall be prorated to compensate for the length of the initial Collection Period being longer than one month.
As compensation therefor, the successor servicer shall be entitled to receive reasonable compensation equal to the Servicing Fee.
The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Interest or the Noteholders of other Series (as provided in the related Indenture Supplements) and in no event shall Issuer, Indenture Trustee or the Series 2024-1 Noteholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Interest or the Noteholders of any other Series.
In the event that a successor Sxxxxxxx has not been appointed at the time when the predecessor Servicer has ceased to act as Servicer in accordance with this Section, the Indenture Trustee without further action shall automatically be appointed the successor Servicer and the Indenture Trustee shall be entitled to the Servicing Fee.
The Servicer shall also be entitled to all Supplemental Servicing Fees collected (from whatever source) on the Receivables, the amount of any Servicing Fee due but not distributed to the Servicer on a prior Payment Date (including any amounts previously deferred by the Servicer as provided in this Section 4.08) plus any reimbursement pursuant to the last paragraph of Section 7.02.