Collateral Administrator Compensation Clause Samples

Collateral Administrator Compensation. As compensation for its activities hereunder, the Collateral Administrator shall be entitled to its fees and expenses from the Borrower as set forth in the Collateral Administrator and Collateral Custodian Fee Letter and any other reasonable and documented out-of-pocket accrued and unpaid fees, expenses (including reasonable attorneys’ fees, costs and expenses) and indemnity amounts payable by the Borrower or the Servicer, or both but without duplication, to the Collateral Administrator and the Securities Intermediary (including Indemnified Amounts under Section 11.04) under the Loan Documents (collectively, the “Collateral Administrator Fees and Expenses”). The Borrower agrees to reimburse the Collateral Administrator in accordance with Section 11.04 for all reasonable and documented out-of-pocket expenses, disbursements and advances incurred or made by the Collateral Administrator in accordance with any provision of this Agreement or the other Loan Documents or in the enforcement of any provision hereof or in the other Loan Documents. The Collateral Administrator’s entitlement to receive fees (other than any previously accrued and unpaid fees) shall cease on the earlier to occur of: (i) its removal as Collateral Administrator pursuant to Section 12.07 and the appointment of a successor Collateral Administrator or (ii) the termination of this Agreement. The Collateral Administrator’s fees shall be computed on the basis of a 360-day year and the actual number of days elapsed during the related Interest Period and shall be based on the Principal Collections on deposit and the par amount of the Aggregate Principal Balance of all Collateral Assets, in each case measured as of the first day of such Interest Period relating to each Payment Date.