Compensation by Bank for Services. Bank shall pay Servicer for Services performed in accordance with the fee schedule set forth in Appendix C. The fee set forth in Appendix C shall become due and payable by Bank not later than the 15th business day following the end of the preceding month, provided, however, that if, in the reasonable business judgment of Bank, Servicer fails to meet any single Product Service Standard or Other Service Standard for 2 of 3 consecutive months, then the fee set forth in Appendix C shall be automatically reduced by 0.5% in the case of Product Service Standards or 0.1% in the case of Other Service Standards, but in no event more than 0.5% in total, for the month in which the repeat failure occurred, and that amount, as reduced, shall be the amount which is due and payable by the Bank.
Compensation by Bank for Services. Bank shall pay Servicer for Services performed in accordance with the fee schedule set forth in Appendix C.
Compensation by Bank for Services of the Agreement shall be deleted and replaced in its entirety with the following: Bank shall pay Servicer for Services provided in accordance with the provisions of Appendix B. The fee shall become due and payable by Bank not later than the 15th calendar day following the end of the preceding month, provided, however, that if, in the reasonable business judgement of Bank, Servicer fails to meet (i) any single annual Performance Standard, (ii) any quarterly Performance Standard in any two Measuring Periods within a rolling 12 month period, and (iii) any monthly Performance Standard (a) in any two consecutive months, (b) three times in any rolling six months, and (c) five times in any rolling twelve months, then the fee to be paid by Bank to Servicer shall be reduced by two percent (2%) for each Service Standard missed, not to exceed ten percent (10%), for the month following the month in which the triggering failure occurred (the “Following Month”), and that amount, as reduced, shall become the amount which is due and payable by Bank for the Following Month.
Compensation by Bank for Services. Bank shall pay Servicer for Services provided in accordance with the provisions of Appendix B. The fee shall become due and payable by Bank not later than the 15th calendar day following the end of the preceding month, provided, however, that if, in the reasonable business judgement of Bank, Servicer fails to meet any single Performance Standard for two (2) consecutive Measuring Periods, then the fee to be paid by Bank to Servicer shall be reduced automatically by two percent (2%) for the month following the month in which the repeat failure occurred (the “Following Month”), and that amount, as reduced, shall become the amount which is due and payable by Bank for the Following Month.
