Common use of Program Access Fees Clause in Contracts

Program Access Fees. On each Residual Payment Date, Buyer shall, or shall cause KBC to, deduct from any Collections an amount equal to the sum of .0181% (the “PAF Rate”) of the daily ending Account Balance for each day during the applicable Accrual Period (the “Program Access Fees”). At all times throughout the term of this Agreement, as set forth in Section 10.10 hereof, Buyer shall have the right to adjust the PAF Rate as Buyer may deem necessary to account for any material changes in the direct, third party charges that are payable by Buyer in connection with the Purchased Receivables, including, without limitation, any servicing fees, underwriting fees and licensing fees; provided, however, that the PAF Rate shall be adjusted no more frequently that once per calendar quarter and any increase shall be effective upon thirty (30) days prior written notice to Seller.

Program Access Fees. On each Residual Payment Date, Buyer shall, or shall cause KBC to, deduct from any Collections an amount equal to the sum of .0181..0226% (the “PAF Rate”) of the daily ending Account Balance for each day during the applicable Accrual Period (the “Program Access Fees”). At all times throughout the term of this Agreement, as set forth in Section 10.10 hereof, Buyer shall have the right to adjust the PAF Rate as Buyer may deem necessary to account for any material changes in the direct, third party charges that are payable by Buyer in connection with the Purchased Receivables, including, without limitation, any servicing fees, underwriting fees and licensing fees; provided, however, that the PAF Rate shall be adjusted no more frequently that than once per calendar quarter and any increase quarter. Buyer shall be effective upon provide Seller with thirty (30) days prior written notice to Sellerof any such change.