Common use of Base Servicing Fee Clause in Contracts

Base Servicing Fee. (a) Commencing retroactively to [***]: (i) the “Wal-Mart Gift Card Commission” shall mean the applicable [***] for each Gift Card sold less $[***] and (ii) the “Base Servicing Fee” payable by Bank shall be equal to (a) the amount of [***] minus (b) Wal-Mart Gift Card Commissions payable by Bank, and minus (c) [***] basis points times the volume of all transactions, including all purchase transactions made with Gift Cards. Bank shall pay to Servicer a single true-up payment retroactively reflecting the economic terms set forth in this Section 4(a) as if the same were in effect for the period commencing [***] through and including the Fifth Amendment Effective Date (the “Servicer True Up Payment”). Bank shall pay the Servicer True Up Payment to Servicer not later than [***] days after the date that Bank pays the Wal-Mart True Up Payment to Wal-Mart.

Base Servicing Fee. (a) Commencing retroactively to [***]: (i) the “Wal-Mart Gift Card Commission” shall mean the applicable [***] for each Gift Card sold less $[***] and (ii) the “Base Servicing Fee” payable by Bank shall be equal to (a) the amount of [***] minus (b) Wal-Mart Gift Card Commissions payable by Bank, and minus (c) [*] ([**] ]) basis points times the volume of all transactions, including all purchase transactions made with Gift Cards. Bank shall pay to Servicer a single true-up payment retroactively reflecting the economic terms set forth in this Section 4(a) as if the same were in effect for the period commencing [***] through and including the Fifth Amendment Effective Date (the “Servicer True Up Payment”). Bank shall pay the Servicer True Up Payment to Servicer not later than [*] ([**] ]) days after the date that Bank pays the Wal-Mart True Up Payment to Wal-Mart.