BASIC PROCESSING CHARGES Sample Clauses
BASIC PROCESSING CHARGES. In consideration for Processing data and Client’s use of the MSP System, Client shall be charged and shall pay to Fidelity Basic Processing Charges per month equal to the monthly rate per loan set forth in the following table times the number of loans processed on the MSP System for that month, but in no event less than the Minimum Monthly Principal Balance Loan Billing Volume Requirement set forth below: 2005 Monthly Basic Processing Charges Per Principal Balance Loan *** The above charges cover regular daily (five (5) days per week), monthly and normal year-end Processing cycles. In addition, in no event shall Client shall Process less than the Minimum Monthly Principal Balance Loan Processing Volume Requirement set forth in the table below: Minimum Monthly Principal Balance Loan Billing Volume Requirement *** Minimum Monthly Principal Balance Loan Processing Volume Requirement *** Notwithstanding the foregoing, Fidelity understands and agrees that Client is entering into the Agreement to initially Process less than the Minimum Monthly Principal Balance Loan Processing Volume Requirement set forth above. As a result, the Minimum Monthly Principal Balance Loan Processing Volume Requirement shall not apply to Client until Client actually Processes that minimum number of loans on the MSP System in one month. Once Client Processes loans greater than or equal to the Minimum Monthly Principal Balance Loan Processing Volume Requirement in any month, the Minimum Monthly Principal Balance Loan Processing Volume Requirement shall apply and Client shall be obligated to Process at least that number of loans each month thereafter.
BASIC PROCESSING CHARGES a. In consideration for processing data in accordance with the CPI MSP and for Client's use of the Systems, Client shall be charged and shall pay to ALLTEL Mortgage processing charges according to the following table: Minimum Monthly Number of Principal Balance Loans: 8,000 ----------------------------------------------------- ----- LOANS ----- 1996 Monthly Rate From To Per Loan 0 10,000 0.793 10,001 20,000 0.679 20,001 30,000 0.566 30,001 50,000 0.533 50,001 75,000 0.437 75,001 100,000 0.406 100,001 150,000 0.367 150,001 250,000 0.335
b. This charge is to cover regular monthly and normal year-end processing. }which have been p~paid-in-full, foreclosed, or transferred to a non-affiliated company, and are therefore inactive zero balance loans, will be billed to Client at the rate of twelve cents ($0.12) @ per loan per month until December 31st of that year (unless there is an open paid-in-full tracking record).
c. The above fees cover total on-line transactions equal to a max mum of ten (10) transactions per principal balance loan per month. For example, if Client has a processing portfolio of 10,000 principal balance loans, the above fees cover up to 100,000 transactions per month. ALLTEL Mortgage shall have the right to ▇▇▇▇ Client and Client agrees to pay a fee as described in Addendum II, Section 3 for the number of transactions over and above the maximum number of transactions.
d. For the fees described above, the processing service will also include the following:
1. All documentation updates, telephone support, and enhancement videos (if applicable).
2. All shared standard CPI MSP enhancements added to the CPI MSP Software System during the Original Term or any Extended Term of this Agreement. (Note: Custom changes requested by Client shall be paid for by Client as defined by Client's SSR (see Article 6) for such custom changes.)
3. Up to one hundred (100) standard LetterWriter letters per each one thousand (1,000) principal balance loans per month (the "Allowable Amount"). Additional standard letters produced above the Allowable Amount and all ARM letters will be billable as described in Addendum II.
4. The Interest Accrual Subsystem Base monthly rate. (Note: Client shall pay the installation charges for such system).
e. The Basic Processing Charges shall remain in effect for the first year of the Original Term of this Agreement. 1 ADDENDUM I ----------
f. Per Agreements where the Original Term's multi-year (where the "first year" is as defined in P...