Common use of Servicing Compensation Clause in Contracts

Servicing Compensation. The share of the Servicing Fee allocable to Series 2001-1 with respect to any Distribution Date shall be paid from Servicer Interchange and the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS A SERVICING FEE") shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (B) the Net Servicing Fee Rate and (C) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS B SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (National City Credit Card Master Trust), Pooling and Servicing Agreement (National City Credit Card Master Trust)

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Servicing Compensation. The share monthly servicing fee ---------------------- hereunder shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Collection Period (or portion thereof) occurring prior to the earlier of the Servicing Fee allocable to Series 20011997-1 with respect to any Termination Date and the first Distribution Date shall be paid from Servicer Interchange and on which the Monthly Servicing FeeInvested Amount is zero. The "MONTHLY SERVICING FEE" shall be An amount equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Collection Period preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period second preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated "Monthly Servicing Fee") shall be --------------------- paid on behalf of the Certificateholders pursuant to this clause Sections 4.06(a)(iii) and (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amountvi); provided, however, that with respect to the first Distribution Date, the -------- ------- Monthly Servicing Fee shall be equal to $365,972.00__________. The share A portion of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS A SERVICING FEENet Servicing Fee") will be payable in the priority set ----------------- forth in Section 4.06(a) and, on each such Distribution Date shall be an amount equal to one-twelfth of the product of (A) the Class A Floating Percentage, (Ba) the Net Servicing Fee Rate and (Cb) the Servicing Base AmountInvested Amount as of the last day of the Collection Period second preceding such Distribution Date; provided, however, that with respect to the first -------- ------- Distribution Date the Class A Net Servicing Fee shall be $320,226.00__________. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS B SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder remaining portion of the Servicing Fee not allocable to the Certificates shall be paid by the Holder of the Seller BCRC Certificate, the Holder(s) of any Supplemental Certificates(s), the Holder of the Variable Funding Certificate or and the Certificateholders Holders of other outstanding Series (as provided in the related Supplements) of Investor Certificates, and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders Trustee or the Collateral Interest Holder Holders of the Certificates be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Seriessuch remaining portion. The (I) Class A Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 accordance with the terms of this Series Supplement. The Servicer will be permitted, in its sole discretion, to waive the Monthly Servicing Fee for any Distribution Date by written notice given to the Trustee at least two Business Days prior to such Distribution Date; provided, -------- however, that the Servicer believes that sufficient Non-Principal Collections ------- will be available on any future Distribution Date to pay the Monthly Servicing Fee relating to the amount thereof pursuant so waived. If the Servicer so waives the Monthly Servicing Fee for any Distribution Date, the Monthly Servicing Fee (including the Net Servicing Fee) for such Distribution Date shall be deemed to SECTION 4.05(a)(ii)be zero for all purposes of this Series Supplement and the Agreement; and provided further, 4.07(a) or 4.08(a), (ii) the Class B that such Monthly Servicing Fee shall be payable paid on a future -------- ------- Distribution Date solely to the extent amounts are available for distribution in respect thereof therefor pursuant to SECTION 4.05(b)(ii), 4.07(cSection 4.09(b) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)hereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bombardier Credit Receivables Corp), Pooling and Servicing Agreement (Bombardier Receivables Master Trust I)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012018-1 8 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012018-1 8 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012018-1 4 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2018-4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012018-1 4 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Monthly Servicing Fee allocable to the Series 20011998-1 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Investor Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate Percentage and (b) (i) the Invested Amount as of the last day of the Monthly Period second preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base AmountCollection Period; provided, however, that with respect to the first Distribution Date, the Investor Monthly Servicing Fee shall be equal to $365,972.00[_______]. The share of the Investor Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (B) Invested Amount as of the Net Servicing Fee Rate last day of the second preceding Collection Period and (Cb) the Servicing Base AmountFee Percentage; provided, however, that with respect to the first Distribution Date Date, the Class A Servicing Fee shall be equal to $320,226.00[_______]. The share of the Investor Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2) Invested Amount as of the Net Servicing Fee Rate last day of the second preceding Collection Period and (3b) the Servicing Base AmountFee Percentage; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be equal to $21,958.00[______]. The share of the Investor Monthly Servicing Fee allocable to the Collateral Interest Holder CTO Securityholders with respect to any Distribution Date (the "COLLATERAL SERVICING FEECTO Servicing Fee") shall be equal to one-twelfth of the product of (1a) the Collateral Floating Percentage, (2) CTO Invested Amount as of the Net Servicing Fee Rate last day of the second preceding Collection Period and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(iib), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).

Appears in 2 contracts

Samples: Master Pooling and Servicing Agreement (First North American National Bank), Master Pooling and Servicing Agreement (First North American National Bank)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012017-1 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2017-1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012017-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012018-1 6 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2018-6 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012018-1 6 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2001-1 20[__]-[_] Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 20[__]-[_] Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 2001-1 20[__]-[_] Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. (a) Prior to the Liquidation Servicer Commencement Date, as compensation for the administration and servicing activities hereunder and reimbursement for the expenses set forth in subsection 2.05(b), each Local ------------------ Servicer and Master Servicer shall be entitled to receive on each Distribution Date in arrears, for the preceding Settlement Period prior to the termination of the Trust pursuant to Section 9.01 of the Pooling Agreement, a portion ------------ (expressed as a percentage) of a servicing fee (the "Servicing Fee"), which ------------- shall be a maximum amount equal to the product of (A) the Servicing Fee Percentage, (B)(i) the average aggregate Principal Amount of the Receivables for such Settlement Period or (ii) with respect to the initial Accrual Period, the average aggregate Principal Amount of the Receivables from (and including) the Series 0000-0 Xxxxxxxx Date to (but excluding) the last day of the initial Settlement Period and (C) the number of days in such Settlement Period divided by 360. The Company and the Initial Master Servicer may from time ------- -- to time agree in writing to a reduced Servicing Fee. If there is a Master Servicer Default and a Successor Master Servicer Default is appointed by the Trustee, the servicing fee for such Successor Master Servicer shall be the fee agreed upon between the Trustee and such Successor Master Servicer; provided, however, that such servicing fee shall not exceed the maximum Servicing Fee payable hereunder to the Master Servicer. The servicing fee payable to the Liquidation Servicer shall be the Liquidation Servicing Fee. Except as otherwise set forth in the related Supplement, the share of the Servicing Fee allocable to Certificates of each Outstanding Series 2001-1 for any Settlement Period shall be an amount equal to the product of (i) the Servicing Fee for such Settlement Period and (ii) a fraction (expressed as a percentage) (A) the numerator of which is the daily average Invested Amount for such Settlement Period with respect to such Outstanding Series and (B) the denominator of which is the daily average Aggregate Invested Amount for such Settlement Period (with respect to any Distribution Date shall be paid from Servicer Interchange and such Series, the "Monthly Servicing Fee"). The "MONTHLY SERVICING FEE" shall be equal to one-twelfth of the excess of Master Servicer (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Period preceding acting in such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS A SERVICING FEE"--------------------- capacity) shall be equal entitled to one-twelfth of the product of (A) the Class A Floating Percentage, (B) the Net Servicing Fee Rate and (C) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS B SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share 10% of the Servicing Fee. The remainder Each Local Servicer shall be entitled to receive a percentage of the remaining Servicing Fee shall be paid in an amount equal to the percentage obtained by dividing the aggregate Principal Amount of Eligible Receivables sold by such Local Servicer to the Contributor by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other SeriesAggregate Receivables Amount. The (I) Class A Servicing Fee shall be payable to such Local Servicers and the Master Servicer solely pursuant to the terms of, and to the extent amounts are available for distribution payment under, Article III of the Pooling Agreement. Any such fee which is payable to a Local Servicer belonging in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee United Kingdom shall be payable solely to inclusive of United Kingdom value added tax and the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) application of Section 89 of the Collateral Servicing Fee United Kingdom Value Added Tax Act 1994 shall be payable solely excluded in relation to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)such fee.

Appears in 2 contracts

Samples: Servicing Agreement (Huntsman Ici Holdings LLC), Servicing Agreement (Huntsman Ici Chemicals LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012018-1 5 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2018-5 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012018-1 5 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012018-1 7 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2018-7 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012018-1 7 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012018-1 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2018-1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012018-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012000-1 4 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, (or, in the case of the first Distribution Date, the product of (x) the actual number of days from and including the Closing Date to and including June 22, 2000, divided by 365, (y) the Servicing Fee Rate and (z) the Initial Invested Amount) minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2000-4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012000-1 4 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Agreement (American Express Centurion Bank), Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012019-1 2 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2019-2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012019-1 2 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012017-1 3 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2017-3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012017-1 3 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012017-1 8 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2017-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012017-1 8 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012002-1 CC Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Floating Allocation Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of for the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount”); provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00equal to the product of (i) the Servicing Base Amount for the first Monthly Period, (ii) the Servicing Fee Rate and (iii) a fraction, the numerator of which is 22 and the denominator of which is 360. On each Distribution Date, but only if a Transferor or The Bank of New York Mellon is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A Series 2002-CC Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS A SERVICING FEE"“Certificateholder Servicing Fee”) shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (Ba) the Net Servicing Fee Rate and (C) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS B SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3b) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Certificateholder Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1i) the Collateral Floating PercentageServicing Base Amount for the first Monthly Period, (2ii) the Net Servicing Fee Rate and (3iii) the Servicing Base Amount; provided, however, that with respect to the first Distribution Datea fraction, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from numerator of which is 22 and the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount denominator of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Feewhich is 360. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate Transferor or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012002-1 CC Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate Transferor or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Capital One Master Trust), Pooling and Servicing Agreement (Capital One Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012022-1 2 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2022-2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012022-1 2 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Series (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012023-1 4 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2023-4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012023-1 4 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012019-1 4 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2019-4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012019-1 4 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012017-1 5 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2017-5 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012017-1 5 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012019-1 3 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2019-3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012019-1 3 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee ---------------------- allocable to the Series 20011998-1 Certificateholders and the Class C Interest Holders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountAmount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount"); provided, however, that with -------- ------- respect to the first Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be $365,972.00equal to the Servicing Fee accrued on the Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date. On each Distribution Date, but only if the Seller or The Bank of New York is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that -------- ------- with respect to the first Distribution Date Date, the Class A Servicing Fee shall be $320,226.00equal to the product of the Class A Floating Percentage as of the first Distribution Date and the Initial Servicing Fee, and provided further, that with -------- ------- respect to the first Distribution Date following the Monthly Period in which an Additional Issuance Date occurs the Class A Servicing Fee shall be increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is the actual number of days in the period from and including such Additional Issuance Date to but excluding such Distribution Date and the denominator of which is 360, (c) the increase in the Invested Amount as a result of such Additional Issuance and (d) the Class A Floating Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that -------- ------- with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00equal to product of the Class B Floating Percentage as of the first Distribution Date and the Initial Servicing Fee, and provided, further, that with respect to -------- ------- the first Distribution Date following the Monthly Period in which an Additional Issuance Date occurs, the Class B Servicing Fee shall be increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is the actual number of days in the period from and including such Additional Issuance Date to but excluding such Distribution Date and the denominator of which is 360, (c) the increase in the Invested Amount as a result of such Additional Issuance and (d) the Class B Floating Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).Class

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Capital One Master Trust), Pooling and Servicing Agreement (Capital One Financial Corp)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012000-1 3 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, (or, in the case of the first Distribution Date, the product of (x) the actual number of days from and including the Closing Date to and including May 31, 2000, divided by 365, (y) the Servicing Fee Rate and (z) the Initial Invested Amount) minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2000-3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012000-1 3 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Centurion Bank), Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to Series 20012000-1 with respect to any Distribution Date shall be paid from Servicer Interchange and the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00612,500.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS A SERVICING FEE") shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (B) the Net Servicing Fee Rate and (C) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00535,937.50. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS B SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.0036,750.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.0039,812.50. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 20012000-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 20012000-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).Seller

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (National City Credit Card Master Trust), Pooling and Servicing Agreement (National City Credit Card Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012018-1 3 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2018-3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012018-1 3 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to Series 20011998-1 with respect to any Distribution Transfer Date shall be paid from Servicer Interchange and (the Monthly "Investor Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth the sum of the excess of (x) Class A Servicing Fee, the product of (a) the Class B Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage Class C Servicing Fee with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00date. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders Ownership Interest with respect to any Distribution Transfer Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Ai) the Class A Floating PercentageAllocation, (Bii) the Net Servicing Fee Rate and (Ciii) the Servicing Base Amount; provided, however, that with respect to Certificateholders Ownership Interests as of the first Distribution Date last day of the Class A Servicing Fee shall be $320,226.00Monthly Period preceding such Transfer Date. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders Ownership Interest with respect to any Distribution Transfer Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1i) the Class B Floating PercentageAllocation, (2ii) the Net Servicing Fee Rate and (3iii) the Servicing Base Amount; provided, however, that with respect to Certificateholders Ownership Interests as of the first Distribution last day of the Monthly Period preceding such Transfer Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Class C Ownership Interest Holder with respect to any Distribution Transfer Date (the "COLLATERAL SERVICING FEEClass C Servicing Fee") shall be equal to one-twelfth of the product of (1i) the Collateral Class C Floating PercentageAllocation, (2ii) the Net Servicing Fee Rate and (3iii) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment Certificateholders Ownership Interests as of the Series 2001-1 share last day of the Servicing FeeMonthly Period preceding such Transfer Date. The remainder of Except as specifically provided above, the Servicing Fee shall be paid by the cash flows from the Trust allocated to the Holder of the Seller Transferor Certificate or the Certificateholders certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate Trustee or the Certificateholders of any other Seriesbe liable therefor. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(iisubsections 4.09(a)(iii) and 4.11(a), 4.07(a) or 4.08(a), (ii) the . The Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(iisubsections 4.09(b)(iii) and 4.11(b), 4.07(c) or 4.08(b), and (iii) the Collateral . The Class C Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(isubsections 4.09(c)(iii) or 4.07(fand 4.11(e). For so long as AIC and AICCO are collectively the Servicer, AIC and AICCO shall be entitled to apportion the Servicing Fee between themselves in such manner as they see fit.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (A I Receivables Corp), Pooling and Servicing Agreement (A I Receivables Corp)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012002-1 CC Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Floating Allocation Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of for the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount"); provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00equal to the product of (i) the Servicing Base Amount for the first Monthly Period, (ii) the Servicing Fee Rate and (iii) a fraction, the numerator of which is 22 and the denominator of which is 360. On each Distribution Date, but only if a Transferor or The Bank of New York is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A Series 2002-CC Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS A SERVICING FEECertificateholder Servicing Fee") shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (Ba) the Net Servicing Fee Rate and (C) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS B SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3b) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Certificateholder Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1i) the Collateral Floating PercentageServicing Base Amount for the first Monthly Period, (2ii) the Net Servicing Fee Rate and (3iii) the Servicing Base Amount; provided, however, that with respect to the first Distribution Datea fraction, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from numerator of which is 22 and the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount denominator of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Feewhich is 360. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate Transferor or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012002-1 CC Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate Transferor or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Capital One Master Trust), Pooling and Servicing Agreement (Capital One Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012021-1 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2021-1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012021-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Series (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012023-1 3 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2023-3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012023-1 3 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012005-1 7 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2005-7 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012005-1 7 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2001-1 [__________] Holders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ), shall be equal to one-twelfth of the excess of (x) the product of (ai) the Servicing Fee Rate and (b) (iii) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountAmount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (bii) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount"); provided, however, that with respect to the first December 1996 Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be $365,972.00________. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") ), shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first ___________ 199____ Distribution Date Date, the Class A Servicing Fee shall be $320,226.00_________. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") ), shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first __________ 199____ Distribution Date, the Class B Servicing Fee shall be $21,958.00________. The share of the Monthly Servicing Fee allocable to the Collateral Class C Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEEClass C Servicing Fee") ), shall be equal to one-twelfth of the product of (1a) the Collateral Class C Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first __________ 199____ Distribution Date, the Collateral Class C Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee_________. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder [__________] Holders be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(iisubsection 4.5(a)(ii), 4.07(a4.7(a) or 4.08(a4.8(a), (ii) ; the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(iisubsection 4.5(b)(ii), 4.07(c4.7(c) or 4.08(b4.8(b), ; and (iii) the Collateral Class C Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(isubsection 4.5(c)(i) or 4.07(f4.7(g).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Travelers Bank Credit Card Master Trust I)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012000-1 C Holders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ), shall be equal to one-twelfth of the excess of (x) the product of (ai) the Servicing Fee Rate and (b) (iii) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountAmount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (bii) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount"); provided, however, that with respect to the first October 2000 Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be $365,972.00768,941. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") ), shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first October 2000 Distribution Date Date, the Class A Servicing Fee shall be $320,226.00551,823. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") ), shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first October 2000 Distribution Date, the Class B Servicing Fee shall be $21,958.0088,021. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") ), shall be equal to one-twelfth of the product of (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).October 2000

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Fleet Bank National Association /Ri/)

Servicing Compensation. The share of the Servicing Fee ---------------------- allocable to the Series 20011999-1 Certificateholders and the Collateral Interest Holder with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountAmount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount"); provided, however, that with -------- ------- respect to the first Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be $365,972.00equal to the Servicing Fee accrued on the Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date. On each Distribution Date, but only if the Seller or The Bank of New York is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that -------- ------- with respect to the first Distribution Date Date, the Class A Servicing Fee shall be $320,226.00equal to the product of the Class A Floating Percentage as of the first Distribution Date and the Initial Servicing Fee. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that -------- ------- with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00equal to product of the Class B Floating Percentage as of the first Distribution Date and the Initial Servicing Fee. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any such Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-one- twelfth of the product of (1c) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that -------- ------- with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect equal to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment product of the Series 2001-1 share Collateral Floating Percentage as of the first Distribution Date and the Initial Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 20011999-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (Ii) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION Section 4.05(a)(ii), 4.07(a) or 4.08(a), ; (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION Section 4.05(b)(ii), 4.07(c) or 4.08(b), ; and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION Section 4.05(c)(i) or 4.07(f).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capital One Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012007-1 4 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2007-4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012007-1 4 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012008-1 2 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2008-2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).Base

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to Series 2001-1 with respect to any Distribution Date shall be paid from Servicer Interchange and the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly ---------------------- Servicing Fee allocable to the Class A Series 2001-1 Certificateholders with respect to any Distribution Date (the "CLASS A SERVICING FEEInvestor Monthly Servicing Fee") shall be equal to ------------------------------ one-twelfth of the product of (A) the Class A Floating Percentage, (B) the Net Servicing Fee Rate and (Ca) the Servicing Base Amount; provided, however, that with respect to Fee Percentage and (b) the first Distribution Date average daily Aggregate Investor Amount for the Class A Servicing Fee shall be $320,226.00related Monthly Period. The share of the Investor Monthly Servicing Fee allocable to the Class B Certificateholders Senior Classes with respect to any Distribution Date (the "CLASS B SERVICING FEESenior Class Servicing Fee") shall be -------------------------- equal to one-twelfth of the product of (1a) the Class B sum of the Floating PercentageAllocation Percentages for the Senior Classes divided by the sum of the Floating Allocation Percentages for all Classes, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that in each case with respect to the first related Monthly Period, and (b) the Investor Monthly Servicing Fee with respect to such Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Investor Monthly Servicing Fee allocable to the Collateral Interest Holder Subordinate Class with respect to any Distribution Date (the "COLLATERAL SERVICING FEESubordinate Class Servicing Fee") ------------------------------- shall be equal to one-twelfth of the product of (1a) the Collateral Floating PercentageAllocation Percentage for the Subordinate Class divided by the sum of the Floating Allocation Percentages for all Classes, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On in each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account case with respect to the related Monthly Period, up and (b) the Investor Monthly Servicing Fee with respect to the amount of Servicer Interchange for such Monthly PeriodDistribution Date. The Senior Class Servicing Fee, to the Servicer in partial payment that portion of the Series 2001-1 share of the Servicing Fee. The remainder of the Senior Class Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided payable in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders respect of any other Series. The (I) particular Senior Class A Servicing Fee shall be payable to and the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Subordinate Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) this Series Supplement. The remainder of the Collateral Monthly Servicing Fee shall be payable solely paid by the Transferor or from amounts allocable to other Series (as provided in the extent Master Pooling and Servicing Agreement and the Supplements relating to such other Series) and in no event shall the Trust, the Trustee or the Series 2001-1 Certificateholders be liable for the share of the Monthly Servicing Fee to be paid by the Transferor or from amounts are available for distribution in respect thereof pursuant allocable to SECTION 4.05(c)(i) or 4.07(f)any other Series.

Appears in 1 contract

Samples: Master Pooling and Servicing Agreement (Saks Credit Card Master Trust)

Servicing Compensation. The share of the Servicing Fee ---------------------- allocable to the Series 20012002-1 4 Certificateholders and the Collateral Interest Holder with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountAmount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount"); provided, however, that with -------- ------- respect to the first Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be equal to $365,972.001,000,000.00. On each Distribution Date, but only if a Seller or The Bank of New York is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that -------- ------- with respect to the first Distribution Date, the Class A Servicing Fee shall be equal to $528,125.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the first -------- ------- Distribution Date Date, the Class A B Servicing Fee 18 shall be equal to $320,226.0048,437.50. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders Collateral Interest Holder (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any such Distribution Date (the "CLASS B SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of (1c) the Class B Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to -------- ------- the first Distribution Date, the Collateral Servicing Fee shall be equal to $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee48,437.50. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate Sellers or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 20012002-1 4 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate Sellers or the Certificateholders of any other Series. The (Ii) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION Section 4.05(a)(ii), 4.07(a) or 4.08(a), ; (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(iiSection 4.05(b)(iii), 4.07(c) or 4.08(b), ; and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION Section 4.05(c)(i) or 4.07(f).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capital One Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012014-1 3 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2014-3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012014-1 3 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Servicing Compensation. The share of monthly servicing fee (the Servicing Fee allocable to Series 2001-1 with respect to any Distribution Date shall be paid from Servicer Interchange and the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Collection Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Series 1996-1 Termination Date and the first Distribution Date on which the Invested Amount is zero, in an amount equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) the Series 1996-1, Allocation Percentage of the Pool Balance as of the last day of the second Collection Period preceding such Distribution Date (ior with respect to the first Distribution Date, as of the Series Cut-Off Date). The share of the Servicing Fee allocable to the Series 1996-1 Certificateholders with respect to any Distribution Date (the "Certificateholders Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) the Invested Amount as of the last day of the Monthly Collection Period second preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Certificateholders Monthly Servicing Fee shall be equal to $365,972.00[ ]. The remainder of the Monthly Servicing Fee shall be paid by the Seller and in no event shall the Trust, the Trustee or the Series 1996-1 Certificateholders be liable for the share of the Monthly Servicing Fee allocable to be paid by the Class A Certificateholders with respect to any Distribution Date (Seller; and the "CLASS A SERVICING FEE") shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (B) the Net Servicing Fee Rate and (C) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS B SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of Seller and the Seller Certificate or the Investor Certificateholders of other Series (as provided in and the related Supplements) and Series 1996-1 Certificateholders shall in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Investor Certificateholders of any other Series. The (I) Class A Certificateholders Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant accordance with the terms of this Series Supplement. The Servicer will be permitted, in its sole discretion, to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) waive the Class B Monthly Servicing Fee shall be payable solely for any Distribution Date by notice to the extent amounts are Trustee on or before the related Determination Date; provided that the Servicer believes that sufficient Collections of Non-Principal Receivables will be available for distribution in respect thereof pursuant on any future Distribution Date to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) pay the Collateral Certificateholders Monthly Servicing Fee shall be payable solely relating to the extent amounts are available waived Monthly Servicing Fee. If the Servicer so waives the Monthly Servicing Fee for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).any

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ford Credit Auto Receivables Corp)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012002-1 5 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2002-5 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012002-1 5 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012006-1 2 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2006-2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012006-1 2 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. A monthly servicing fee (the "Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Due Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Invested Amount and the L/C Invested Amount, if any, are zero, in the aggregate amount specified below. On each Distribution Date, Servicer Interchange with respect to the related Due Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Servicing Fee payable by the Series 1999-1 Certificateholders with respect to such Due Period. The share of the Servicing Fee allocable to Series 2001-1 with respect the Class A Certificateholders (after giving effect to any Distribution Date shall be paid from the distribution of Servicer Interchange and the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountInterchange, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders Servicer) with respect to any Distribution Date (the "CLASS Class A SERVICING FEEMonthly Servicing Fee") shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (Ba) the Net Servicing Fee Rate Rate, (b) the sum of the Invested Amount and the L/C Invested Amount, if any, as of the last day of the Due Period second preceding such Distribution Date and (Cc) the Servicing Base AmountClass A Invested Percentage with respect to such Distribution Date; provided, however, with respect to the first Distribution Date, the Class A Monthly Servicing Fee shall be equal to the Servicing Fee accrued on the Class A Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs the Class A Monthly Servicing Fee shall be $320,226.00increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is 30 minus the actual number of days in the period from and including the fifteenth day of the calendar month in which such Additional Issuance Date occurs to but excluding such Additional Issuance Date and the denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class A Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS Class B SERVICING FEEMonthly Servicing Fee") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2a) the Net Servicing Fee Rate Rate, (b) the sum of the Invested Amount and the L/C Invested Amount, if any, as of the last day of the Due Period second preceding such Distribution Date and (3c) the Servicing Base AmountClass B Invested Percentage with respect to such Distribution Date; provided, however, that with respect to the first Distribution Date, the Class B Monthly Servicing Fee shall be $21,958.00equal to the Servicing Fee accrued on the Class B Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs, the Class B Monthly Servicing Fee shall be increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is 30 minus the actual number of days in the period from and including the fifteenth day of the calendar month in which such Additional Issuance Date occurs to but excluding such Additional Issuance Date and the denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class B Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder L/C Issuer (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date relating to the Early Amortization Period, following the Distribution Date on which the Class A Invested Amount and the Class B Invested Amount are paid in full (the "COLLATERAL SERVICING FEEL/C Monthly Servicing Fee") ), shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2a) the Net Servicing Fee Rate and (3b) the Servicing Base L/C Invested Amount; provided, howeverif any, that with respect to as of the first last day of the Due Period second preceding such Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, Sellers shall pay a portion of the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account Servicing Fee with respect to the related Monthly Period, up Due Period in an amount equal to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment one-twelfth of the Series 2001-1 share product of the Servicing Fee. The remainder of (a) the Servicing Fee shall be paid by Rate, (b) the Holder Sellers' Participation Amount as of the Seller Certificate last day of the Due Period second preceding such Distribution Date (or, if a Lump Addition occurs or a removal of Accounts pursuant to Section 2.10 of the Certificateholders of other Series (as provided Agreement occurs in the related Supplementsfollowing Due Period, the weighted average of the Sellers' Participation Amount on the date on which such Lump Addition or removal of Accounts occurs (after giving effect thereto) and in the last day of the second preceding Due Period) and (c) the Series 1999-1 Allocation Percentage for the related Due Period. In no event shall the Trust, the Trustee, the Series 20011999-1 Certificateholders or the Collateral Interest Holder L/C Issuer be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other SeriesSellers. The (Ii) Class A Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(iiSection 4.06(a)(iii) or (c)(iii), 4.07(a) or 4.08(a)as the case may be, (ii) the Class B Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(iiSection 4.06(b)(ii) or (d)(ii), 4.07(c) or 4.08(b)as the case may be, and (iii) the Collateral L/C Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(fSection 4.09(e).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citibank South Dakota N A)

Servicing Compensation. The share of A monthly servicing fee for Series 2003-2 (the Servicing Fee allocable to Series 2001-1 with respect to any Distribution Date shall be paid from Servicer Interchange and the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be payable to the Servicer, in arrears, on each Payment Date in respect of any Collection Period (or portion thereof) occurring prior to the first Payment Date on which the Invested Amount is zero, in an amount equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) the product of (i) the Invested Amount Series 2003-2 Allocation Percentage and (ii) the Pool Balance as of the last day of the Monthly second Collection Period preceding such Distribution Payment Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Series 2003-2 Certificateholders with respect to any Distribution Payment Date (the "CLASS A SERVICING FEECertificateholders' Monthly Servicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (B) the Net Servicing Fee Rate and (Cb) the Servicing Base AmountInvested Amount as of the last day of the second Collection Period preceding such Payment Date and shall be payable in the manner set forth in Section 4.6 and Section 4.10; provided, however, that with respect to the first Distribution Payment Date for Series 2003-2, clause (b) of this sentence shall be deemed to refer to the Class A Invested Amount on the Closing Date. Notwithstanding the foregoing, with respect to the first Payment Date for Series 2003-2, each reference in the preceding sentences of this Section to one-twelfth shall be deemed to be replaced by a fraction, the numerator of which is the number of days from but excluding the Closing Date to and including the last day of the month in which the Closing Date occurs and the denominator of which is 360. The remainder of the Monthly Servicing Fee shall be $320,226.00. The paid by the Transferor and in no event shall the Trust, the Trustee or the Series 2003-2 Certificateholders be liable for the share of the Monthly Servicing Fee allocable to be paid by the Class B Certificateholders with respect to any Distribution Date (Transferor; and the "CLASS B SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of Transferor and the Seller Certificate or the Investor Certificateholders of other Series, the Trustee and the Series (as provided in the related Supplements) and 2003-2 Certificateholders shall in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate Transferor or the Investor Certificateholders of any other Series. The (I) Class A Certificateholders' Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution payment in accordance with the terms of this Series Supplement or to the extent that amounts may be netted with respect 16 21 thereof pursuant thereto in accordance with the terms of this Series Supplement or the Agreement. The Servicer shall be permitted, in its sole discretion, to SECTION 4.05(a)(ii)waive the Monthly Servicing Fee for any Payment Date, 4.07(a) in whole or 4.08(a)in part, (ii) by notice to the Class B Trustee on or before the related Determination Date; provided that the Servicer reasonably believes that sufficient Non-Principal Collections shall be available on any future Payment Date to pay the waived portion of Monthly Servicing Fee. The waived portion of such Monthly Servicing Fee shall be payable solely paid on a future Payment Date to the extent amounts are available for distribution in respect thereof therefor pursuant to SECTION 4.05(b)(ii), 4.07(cSection 4.10(a) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent that amounts are available for distribution may be netted with respect thereto in respect thereof pursuant accordance with the terms of this Series Supplement or the Agreement; provided, however, that, to SECTION 4.05(c)(i) or 4.07(f)the extent any such waived Monthly Servicing Fee is so paid, the related portion of the Monthly Servicing Fee to be paid by the Transferor shall be paid by the Transferor to the Servicer. If the Servicer is the Initial Servicer, and payment of any portion of the Monthly Servicing Fee to the Initial Servicer on a Payment Date would require a withdrawal from the Reserve Fund, then absent affirmative notice to the Trustee by the Initial Servicer to the contrary, the Initial Servicer shall be deemed to have waived payment of that portion on that Payment Date; provided that a deemed waiver described in this sentence shall not occur on more than two Payment Dates in any twelve month period and shall not occur on any two consecutive Payment Dates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CDF Financing LLC)

Servicing Compensation. The share of the Servicing Fee ---------------------- allocable to the Series 2001-1 199__-__ Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (ib)(i) the sum of the [Adjusted] Invested Amount [and the Enhancement Invested Amount, if any,] as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount"); provided, however, that with respect to the first Distribution Date, -------- ------- the Monthly Servicing Fee shall be equal to $365,972.00[__________]. [On each Distribution Date, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange.] The share of the Monthly Servicing Fee allocable to the Class A Certificateholders [(after giving effect to the distribution of Servicer Interchange, if any, to the Servicer)] with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net [Net] Servicing Fee Rate and (C) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS B SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B A -------- ------- Servicing Fee shall be equal to $21,958.00[__________]. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder Class B Certificateholders [(after giving effect to the distribution of Servicer Interchange, if any, to the Servicer)] with respect to any Distribution Date (the "COLLATERAL SERVICING FEEClass B Servicing Fee") shall be equal to one-twelfth of the product of (1a) the Collateral Class 13 Floating Percentage, (2b) the Net [Net] Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, -------- ------- that with respect to the first Distribution Date, the Class B Servicing Fee shall be equal to $[__________]. [The share of the Monthly Servicing Fee allocable to the Collateral Interest [(after giving effect to the distribution of Servicer Interchange, if any, to the Servicer)] with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Invested Percentage (b) the [Net] Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect -------- ------- to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior equal to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. [__________].] The remainder of the Servicing Fee shall be paid by the Holder of the Seller Depositor Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 199__-__ Certificateholders or the [Cash Collateral Interest Holder Depositor] [Credit Enhancement Provider] be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Depositor Certificate or the Certificateholders of any other Series. The (Ii) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION Section 4.05(a)(ii), 4.07(a), 4.08(a) or 4.08(a4.12(c), (ii) ]; and the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(iiSection 4.05(b) (ii), 4.07(c4.07(d) or 4.08(b), for 4.12(e) [and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in with respect thereof thereto pursuant to SECTION 4.05(c)(iSection 4.05[(b-1)(i)], 4.05(b)(ii) [or 4.07(f4.07(h-2)].

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset Backed Securities Corp)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012003-1 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2003-1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012003-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012000-1 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Excess Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount"); provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00[528,333.33]. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders (the "Class A Servicing Fee"), to the Class B Certificateholders (the "Class B Servicing Fee") and to the Class C Certificateholders (the "Class C Servicing Fee") with respect to any Distribution Date (the "CLASS A SERVICING FEE") shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (B) the Net Servicing Fee Rate and (C) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of determined by multiplying the Monthly Servicing Fee allocable to times a fraction, the Class B Certificateholders with respect to any Distribution Date (numerator of which is the "CLASS B SERVICING FEE") shall be equal to one-twelfth invested amount of the product applicable Class and the denominator of (1) which is the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Invested Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) ), and in no event shall the Trust, the Trustee, Trustee or the Series 20012000-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(iiSections 4.2(b)(i)(x), 4.07(a) or 4.08(a4.2(b)(ii)(x), (ii4.6(a)(iii) and 4.6(a)(xi). All funds applied to pay the Monthly Servicing Fee pursuant to any such Section shall be applied first to the Class A Servicing Fee, second to the Class B Servicing Fee shall be payable solely and third to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Class C Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Fee.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Neiman Marcus Group Inc)

Servicing Compensation. A monthly servicing fee (the "Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of the prior Due Period (or portion thereof) occurring before the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Series 2000 Invested Amount is zero, in the aggregate amount specified below. On each Distribution Date, Servicer Interchange with respect to the related Due Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Servicing Fee payable by the Series 2000 Certificateholders with respect to such Due Period. The share of the Servicing Fee allocable to the Series 2001-1 with respect 2000 Certificateholders (after giving effect to any Distribution Date shall be paid from the distribution of Servicer Interchange and the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountInterchange, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders Servicer) with respect to any Distribution Date (the "CLASS A SERVICING FEESeries 2000 Monthly Servicing Fee") shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (Ba) the Net Servicing Fee Rate and (Cb) the Servicing Base AmountSeries 2000 Invested Amount as of the last day of the Due Period second preceding such Distribution Date; provided, however, that (1) with respect to the first Distribution Date Date, the Class A Series 2000 Monthly Servicing Fee shall be $320,226.00. The share equal to the Servicing Fee accrued on the Series 2000 Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months, and (2) with respect to each Due Period thereafter during which the Series 2000 Invested Amount is increased as a result of an issuance of a tranche of Notes, the Series 2000 Monthly Servicing Fee allocable shall be reduced to reflect the Class B Certificateholders number of days in such Due Period before such issuance. On each Distribution Date, the Sellers shall pay a portion of the Servicing Fee with respect to any Distribution Date (the "CLASS B SERVICING FEE") shall be related Due Period in an amount equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3a) the Servicing Base Amount; providedFee Rate, however, that with respect to (b) the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share Sellers' Participation Amount as of the Monthly Servicing Fee allocable to last day of the Collateral Interest Holder with respect to any Due Period second preceding such Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal or, if a Lump Addition occurs or a removal of Accounts pursuant to one-twelfth Section 2.10 of the product Agreement occurs in the following Due Period, the weighted average of the Sellers' Participation Amount on the date on which such Lump Addition or removal of Accounts occurs (1after giving effect thereto) and the last day of the second preceding Due Period) and (c) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to Series 2000 Allocation Percentage for the related Monthly Due Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in In no event shall the Master Trust, the Trustee, Trustee or the Series 2001-1 2000 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other SeriesSellers. The (I) Class A Series 2000 Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(fSection 4.02(a)(ii).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citibank Credit Card Issuance Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012008-1 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2008-1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).Base

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Servicing Compensation. The share of the Servicing Fee allocable to Series 20012002-1 with respect to any Distribution Date shall be paid from Servicer Interchange and the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Transfer Date (the "CLASS A SERVICING FEEInvestor Servicing Fee") shall be equal to one-twelfth of the product of (Ai) the Class A Floating Percentage, Series Servicing Fee Percentage and (Bii) the Net Servicing Fee Rate and (C) Adjusted Investor Interest as of the Servicing Base Amountlast day of the Monthly Period preceding such Transfer Date; provided, however, provided that with respect to the first Distribution Date Transfer Date, the Class A Investor Servicing Fee shall be equal $320,226.0082,796. The share of the Monthly Investor Servicing Fee allocable to the Class B Certificateholders A Investor Interest with respect to any Distribution Transfer Date (the "CLASS B SERVICING FEEClass A Servicing Fee") shall be equal to one-twelfth of the product of (1i) the Class B A Floating PercentageAllocation, (2ii) Series Servicing Fee Percentage and (iii) the Net Servicing Fee Rate and (3) Adjusted Investor Interest as of the Servicing Base Amountlast day of the Monthly Period preceding such Transfer Date; provided, however, provided that with respect to the first Distribution Transfer Date, the Class A Servicing Fee shall equal $73,895. The share of the Investor Servicing Fee allocable to the Class B Investor Interest with respect to any Transfer Date (the "Class B Servicing Fee") shall equal one-twelfth of the product of (i) the Class B Floating Allocation, (ii) the Series Servicing Fee Percentage and (iii) the Adjusted Investor Interest as of the last day of the Monthly Period preceding such Transfer Date; provided that with respect to the first Transfer Date, the Class B Servicing Fee shall be equal $21,958.003,312. The share of the Monthly Investor Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Transfer Date (the "COLLATERAL SERVICING FEECollateral Interest Servicing Fee") shall be equal to one-twelfth of the product of (1i) the Collateral Floating PercentageAllocation, (2ii) the Net Series Servicing Fee Rate Percentage and (3iii) the Servicing Base AmountAdjusted Investor Interest as of the last day of the Monthly Period preceding such Transfer Date; provided, however, provided that with respect to the first Distribution Transfer Date, the Collateral Interest Servicing Fee shall be equal $23,788.005,589. On each Distribution DateExcept as specifically provided above, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of cash flows from the Seller Certificate Trust allocated to the Transferor or the Certificateholders certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders Trustee or the Collateral Interest Holder Investor Holders be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Seriestherefor. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(iisubsections 4.11(a)(iii) and 4.13(b), 4.07(a) or 4.08(a), (ii) the . The Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(iisubsections 4.11(b)(iii) and 4.13(d), 4.07(c) or 4.08(b), and (iii) the . The Collateral Interest Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(isubsection 4.13(g) or 4.07(fif applicable subsection 4.11(c)(ii).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mellon Bank Premium Finance Loan Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012012-1 4 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2012-4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).Base

Appears in 1 contract

Samples: Series 2012 (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012005-1 2 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2005-2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012005-1 2 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2001-1 [ ] Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (ib)(i) the sum of the [Adjusted] Invested Amount [and the Enhancement Invested Amount, if any,] as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount"); providedPROVIDED, howeverHOWEVER, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be equal to $365,972.00[__________]. [On each Distribution Date, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange.] The share of the Monthly Servicing Fee allocable to the Class A Certificateholders [(after giving effect to the distribution of Servicer Interchange, if any, to the Servicer)] with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net [Net] Servicing Fee Rate and (Cc) the Servicing Base Amount; providedPROVIDED, howeverHOWEVER, that with respect to the first Distribution Date Date, the Class A Servicing Fee shall be equal to $320,226.00[__________]. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders [(after giving effect to the distribution of Servicer Interchange, if any, to the Servicer)] with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B 13 Floating Percentage, (2b) the Net [Net] Servicing Fee Rate and (3c) the Servicing Base Amount; providedPROVIDED, howeverHOWEVER, that with respect to the first Distribution Date, the Class B Servicing Fee shall be equal to $21,958.00[__________]. [The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder [(after giving effect to the distribution of Servicer Interchange, if any, to the Servicer)] with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of the (1a) Collateral Invested Percentage (b) the Collateral Floating Percentage, (2) the Net [Net] Servicing Fee Rate and (3c) the Servicing Base Amount; providedPROVIDED, howeverHOWEVER, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior equal to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. [__________].] The remainder of the Servicing Fee shall be paid by the Holder of the Seller Depositor Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 [ ] Certificateholders or the [Cash Collateral Interest Holder Depositor] [Credit Enhancement Provider] be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Depositor Certificate or the Certificateholders of any other Series. The (Ii) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION Section 4.05(a)(ii), 4.07(a), 4.08(a) or 4.08(a4.12(c), (ii) ]; and the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(iiSection 4.05(b) (ii), 4.07(c4.07(d) or 4.08(b), for 4.12(e) [and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in with respect thereof thereto pursuant to SECTION 4.05(c)(iSection 4.05[(b-1)(i)], 4.05(b)(ii) [or 4.07(f4.07(h-2)].

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ace Securities Corp)

Servicing Compensation. A monthly servicing fee (the "Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Due Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Invested Amount and the CCA Invested Amount, if any, are zero, in the aggregate amount specified below. On each Distribution Date, Servicer Interchange with respect to the related Due Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Servicing Fee payable by the Series 1998-2 Certificateholders with respect to such Due Period. The share of the Servicing Fee allocable to Series 2001-1 with respect the Class A Certificateholders (after giving effect to any Distribution Date shall be paid from the distribution of Servicer Interchange and the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountInterchange, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders Servicer) with respect to any Distribution Date (the "CLASS Class A SERVICING FEEMonthly Servicing Fee") shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (Ba) the Net Servicing Fee Rate Rate, (b) the sum of the Invested Amount and the CCA Invested Amount, if any, as of the last day of the Due Period second preceding such Distribution Date and (Cc) the Servicing Base AmountClass A Invested Percentage with respect to such Distribution Date; provided, however, with respect to the first Distribution Date, the Class A Monthly Servicing Fee shall be equal to the Servicing Fee accrued on the Class A Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs the Class A Monthly Servicing Fee shall be $320,226.00increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is 30 minus the actual number of days in the period from and including the fifteenth day of the calendar month in which such Additional Issuance Date occurs to but excluding such Additional Issuance Date and the denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class A Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS Class B SERVICING FEEMonthly Servicing Fee") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2a) the Net Servicing Fee Rate Rate, (b) the sum of the Invested Amount and the CCA Invested Amount, if any, as of the last day of the Due Period second preceding such Distribution Date and (3c) the Servicing Base AmountClass B Invested Percentage with respect to such Distribution Date; provided, however, that with respect to the first Distribution Date, the Class B Monthly Servicing Fee shall be $21,958.00equal to the Servicing Fee accrued on the Class B Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs, the Class B Monthly Servicing Fee shall be increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is 30 minus the actual number of days in the period from and including the fifteenth day of the calendar month in which such Additional Issuance Date occurs to but excluding such Additional Issuance Date and the denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class B Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable allocable, on a pro rata basis, to the Cash Collateral Interest Holder Depositor and each Additional Cash Collateral Depositor (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date relating to the Early Amortization Period, following the Distribution Date on which the Class A Invested Amount and the Class B Invested Amount are paid in full (the "COLLATERAL SERVICING FEECCA Monthly Servicing Fee") ), shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2a) the Net Servicing Fee Rate and (3b) the Servicing Base CCA Invested Amount; provided, howeverif any, that with respect to as of the first last day of the Due Period second preceding such Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, Sellers shall pay a portion of the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account Servicing Fee with respect to the related Monthly Period, up Due Period in an amount equal to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment one-twelfth of the Series 2001-1 share product of the Servicing Fee. The remainder of (a) the Servicing Fee shall be paid by Rate, (b) the Holder Sellers' Participation Amount as of the Seller Certificate last day of the Due Period second preceding such Distribution Date (or, if a Lump Addition occurs or a removal of Accounts pursuant to Section 2.10 of the Certificateholders of other Series (as provided Agreement occurs in the related Supplementsfollowing Due Period, the weighted average of the Sellers' Participation Amount on the date on which such Lump Addition or removal of Accounts occurs (after giving effect thereto) and in the last day of the second preceding Due Period) and (c) the Series 1998-2 Allocation Percentage for the related Due Period. In no event shall the Trust, the Trustee, the Series 20011998-1 Certificateholders 2 Certificateholders, the Cash Collateral Depositor or the any Additional Cash Collateral Interest Holder Depositor be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Sellers.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citibank South Dakota N A)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2001-1 20[__]-[__] Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 20[__]-[__] Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 2001-1 20[__]-[__] Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Servicing Compensation. A monthly servicing fee (the "Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Due Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Invested Amount and the CCA Invested Amount, if any, are zero, in the aggregate amount specified below. On each Distribution Date, Servicer Interchange with respect to the related Due Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Servicing Fee payable by the Series 1999-5 Certificateholders with respect to such Due Period. The share of the Servicing Fee allocable to Series 2001-1 with respect the Class A Certificateholders (after giving effect to any Distribution Date shall be paid from the distribution of Servicer Interchange and the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountInterchange, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders Servicer) with respect to any Distribution Date (the "CLASS Class A SERVICING FEEMonthly Servicing Fee") shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (Ba) the Net Servicing Fee Rate Rate, (b) the sum of the Invested Amount and the CCA Invested Amount, if any, as of the last day of the Due Period second preceding such Distribution Date and (Cc) the Servicing Base AmountClass A Invested Percentage with respect to such Distribution Date; provided, however, with respect to the first Distribution Date, the Class A Monthly Servicing Fee shall be equal to the Servicing Fee accrued on the Class A Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs the Class A Monthly Servicing Fee shall be $320,226.00increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is 30 minus the actual number of days in the period from and including the fifteenth day of the calendar month in which such Additional Issuance Date occurs to but excluding such Additional Issuance Date and the denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class A Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS Class B SERVICING FEEMonthly Servicing Fee") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2a) the Net Servicing Fee Rate Rate, (b) the sum of the Invested Amount and the CCA Invested Amount, if any, as of the last day of the Due Period second preceding such Distribution Date and (3c) the Servicing Base AmountClass B Invested Percentage with respect to such Distribution Date; provided, however, that with respect to the first Distribution Date, the Class B Monthly Servicing Fee shall be $21,958.00equal to the Servicing Fee accrued on the Class B Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs, the Class B Monthly Servicing Fee shall be increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is 30 minus the actual number of days in the period from and including the fifteenth day of the calendar month in which such Additional Issuance Date occurs to but excluding such Additional Issuance Date and the denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class B Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable allocable, on a pro rata basis, to the Cash Collateral Interest Holder Depositor and each Additional Cash Collateral Depositor (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date relating to the Early Amortization Period, following the Distribution Date on which the Class A Invested Amount and the Class B Invested Amount are paid in full (the "COLLATERAL SERVICING FEECCA Monthly Servicing Fee") ), shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2a) the Net Servicing Fee Rate and (3b) the Servicing Base CCA Invested Amount; provided, howeverif any, that with respect to as of the first last day of the Due Period second preceding such Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, Sellers shall pay a portion of the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account Servicing Fee with respect to the related Monthly Period, up Due Period in an amount equal to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment one-twelfth of the Series 2001-1 share product of the Servicing Fee. The remainder of (a) the Servicing Fee shall be paid by Rate, (b) the Holder Sellers' Participation Amount as of the Seller Certificate last day of the Due Period second preceding such Distribution Date (or, if a Lump Addition occurs or a removal of Accounts pursuant to Section 2.10 of the Certificateholders of other Series (as provided Agreement occurs in the related Supplementsfollowing Due Period, the weighted average of the Sellers' Participation Amount on the date on which such Lump Addition or removal of Accounts occurs (after giving effect thereto) and in the last day of the second preceding Due Period) and (c) the Series 1999-5 Allocation Percentage for the related Due Period. In no event shall the Trust, the Trustee, the Series 20011999-1 Certificateholders 5 Certificateholders, the Cash Collateral Depositor or the any Additional Cash Collateral Interest Holder Depositor be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other SeriesSellers. The (Ii) Class A Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(iiSection 4.06(a)(iii) or (c)(iii), 4.07(a) or 4.08(a)as the case may be, (ii) the Class B Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(iiSection 4.06(b)(ii) or (d)(ii), 4.07(c) or 4.08(b)as the case may be, and (iii) the Collateral CCA Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(fSection 4.09(e).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citibank South Dakota N A)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012004-1 2 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2004-2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012004-1 2 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012008-1 3 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2008-3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).Base

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012007-1 6 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2007-6 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012007-1 6 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012008-1 5 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2008-5 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).Base

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share monthly servicing fee (the "Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Due Period (or portion thereof) occurring prior to the earlier of the Servicing Fee allocable to first Distribution Date following the Series 20011998-1 with respect to any Termination Date and the first Distribution Date shall be paid from Servicer Interchange and on which the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" shall be Invested Amount is zero, in an amount equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and Rate, (b) (i) the Invested Amount amount of Principal Receivables as of the last day of the Monthly Due Period second preceding such Distribution Date (or, if an Aggregate Addition occurs or a removal of Accounts pursuant to Section 2.10 of the Agreement occurs in the Due Period preceding such Distribution Date, minus (ii) the product weighted average amount of the amount, if any, on deposit Principal Receivables in the Special Funding Account as Trust on the date on which such Aggregate Addition or removal of Accounts occurs (after giving effect thereto) and the last day of such second preceding Due Period) and (c) the Monthly Series 1998-1 Allocation Percentage for the Due Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base AmountDate; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00an amount equal to the product of (a) the Servicing Fee Rate, (b) the amount of Principal Receivables in the Trust as of the Series Cut-Off Date, (c) the Series 1998-1 Allocation Percentage for the Due Period preceding such Distribution Date and (d) a fraction the numerator of which is 30 and the denominator of which is 360. The share portion of the Monthly Servicing Fee allocable to the Class A Certificateholders payable from Reallocated Investor Finance Charge and Administrative Collections with respect to any Distribution Date (the "CLASS A SERVICING FEEAllocable Servicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (B) the Net Servicing Fee Rate and (C) the Servicing Base Amount; provided, however, that with respect such rate to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders reduced with respect to any Distribution Date (by the "CLASS B SERVICING FEE") shall be equal to one-twelfth of amount by which the product of 12 and Interchange received during the preceding Due Period as a percentage of the total amount of Principal Receivables at the end of such Due Period is less than 1.25%) and (1b) the Class B Floating Percentage, (2) Adjusted Invested Amount as of the Net Servicing Fee Rate and (3) last day of the Servicing Base AmountDue Period second preceding such Distribution Date; provided, however, that with respect to the first Distribution Date, the Class B Allocable Servicing Fee shall be $21,958.00. The share equal to the product of (a) the Monthly Servicing Fee allocable Rate (such rate to the Collateral Interest Holder be reduced with respect to any Distribution Date (by the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of amount by which the product of (1) 12 and Interchange received during the Collateral Floating Percentage, (2) preceding Due Period as a percentage of the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the total amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(aPrincipal Receivables is less than 1.25%), (iib) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), Initial Invested Amount and (iiic) a fraction the Collateral Servicing Fee shall be payable solely to numerator of which is 30 and the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).denominator of

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Household Affinity Funding Corp)

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Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012002-1 2 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2002-2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012002-1 2 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Centurion Bank)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012000-1 5 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, (or, in the case of the first Distribution Date, the product of (x) the actual number of days from and including the Closing Date to and including September 30, 2000, divided by 365, (y) the Servicing Fee Rate and (z) the Initial Invested Amount) minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2000-5 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate (SERIES 2000-5 SUPPLEMENT) 13 and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012000-1 5 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2001-1 4 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date (or, in the case of the first Distribution Date, the product of (x) the actual number of days from and including the Closing Date to and including April 30, 2001, divided by 365, (y) the Servicing Fee Rate and (z) the Initial Invested Amount) minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2001-4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 2001-1 4 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012005-1 4 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2005-4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012005-1 4 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012009-1 2 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2009-2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012009-1 2 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of A monthly servicing fee for your series (the Servicing Fee allocable to Series 2001-1 with respect to any Distribution Date shall be paid from Servicer Interchange and the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Collection Period (or portion thereof) occurring prior to the first Distribution Date on which the Invested Amount is zero, in an amount equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) the product of (i) the Invested Amount Series 2000-3 Allocation Percentage and (ii) the Pool Balance as of the last day of the Monthly second Collection Period preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Series 2000-3 Certificateholders with respect to any Distribution Date (the "CLASS A SERVICING FEECertificateholders' Monthly Servicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (B) the Net Servicing Fee Rate and (Cb) the Servicing Base AmountInvested Amount as of the last day of the second Collection Period second preceding such Distribution Date and shall be payable in the manner set forth in Section 4.6 and Section 4.10; provided, however, that with respect to the first Distribution Date for Series 2000-3, clause (b) of this sentence shall be deemed to refer to the Class A Invested Amount on the Closing Date. Notwithstanding the foregoing, with respect to the first Distribution Date for Series 2000-3, each reference in the preceding sentences of this Section to one-twelfth shall be deemed to be replaced by a fraction, the numerator of which is the number of days from but excluding the Closing Date to and including the last day of the month in which the Closing Date occurs and the denominator of which is 360. The remainder of the Monthly Servicing Fee shall be $320,226.00. The paid by the Seller and in no event shall the Trust, the Trustee or the Series 2000-3 Certificateholders be liable for the share of the Monthly Servicing Fee allocable to be paid by the Class B Certificateholders with respect to any Distribution Date (Seller; and the "CLASS B SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of Seller and the Seller Certificate or the Investor Certificateholders of other Series, the Trustee and the Series (as provided in the related Supplements) and 2000-3 Certificateholders shall in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Investor Certificateholders of any other Series. The (I) Class A Certificateholders' Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in accordance with the terms of this Series Supplement or to the extent that amounts may be netted with respect 16 21 thereof pursuant thereto in accordance with the terms of this Series Supplement or the Agreement. The Servicer shall be permitted, in its sole discretion, to SECTION 4.05(a)(ii)waive the Monthly Servicing Fee for any Distribution Date, 4.07(a) in whole or 4.08(a)in part, (ii) by notice to the Class B Trustee on or before the related Determination Date; provided that the Servicer reasonably believes that sufficient Non-Principal Collections shall be available on any future Distribution Date to pay the waived portion of Monthly Servicing Fee. The waived portion of such Monthly Servicing Fee shall be payable solely paid on a future Distribution Date to the extent amounts are available for distribution in respect thereof therefor pursuant to SECTION 4.05(b)(ii), 4.07(cSection 4.10(a) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent that amounts are available for distribution may be netted with respect thereto in respect thereof pursuant accordance with the terms of this Series Supplement or the Agreement; provided, however, that, to SECTION 4.05(c)(i) or 4.07(f)the extent any such waived Monthly Servicing Fee is so paid, the related portion of the Monthly Servicing Fee to be paid by the Seller shall be paid by the Seller to the Servicer. If the Servicer is DFS, and payment of any portion of the Monthly Servicing Fee to DFS on a Distribution Date would require a withdrawal from the Reserve Fund, then absent affirmative notice to the Trustee by DFS to the contrary, DFS shall be deemed to have waived payment of that portion on that Distribution Date; provided that a deemed waiver described in this sentence shall not occur on more than two Distribution Dates in any twelve month period and shall not occur on any two consecutive Distribution Dates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Distribution Financial Services Floorplan Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012008-1 4 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2008-4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).Base

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Monthly Servicing Fee ---------------------- allocable to the Series 2001-1 2 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Investor Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-one- ------------------------------ twelfth (1/12th) of the excess of (x) the product of (a) the Servicing Fee Rate Percentage and (b) (i) the Invested Amount as each of the last day of average Class A Adjusted Investor Amount, the Monthly Period preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date average Class B Adjusted Investor Amount and the Floating Allocation Percentage with respect to such average Collateral Interest Adjusted Amount, respectively, during the immediately preceding Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base AmountPeriod; provided, however, that with respect to the first Distribution Date, the Investor Monthly Servicing Fee shall be equal to $365,972.00375,000. The share of the Investor Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to the product of --------------------- (a) one-twelfth (1/12th) of the product of Servicing Fee Percentage and (Ab) the average Class A Floating Percentage, (B) the Net Servicing Fee Rate and (C) the Servicing Base Adjusted Investor Amount; provided, however, that with respect to the first Distribution Date Date, the Class A Servicing Fee shall be equal to $320,226.00277,500. The share of the Investor Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing ----------------- Fee") shall be equal to one-twelfth of the product of (1a) one-twelfth (1/12th) of the --- Servicing Fee Percentage and (b) the average Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Adjusted Investor Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be equal to $21,958.0030,000. The share of the Investor Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Interest Servicing Fee") shall be equal to one-twelfth of --------------------------------- the product of (1a) one-twelfth (1/12th) of the Servicing Fee Percentage and (b) the average Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Interest Adjusted Amount; provided, however, that with respect to the first Distribution Date, the Collateral Interest Servicing Fee shall be equal to $23,788.0067,500. On each The Collateral Interest Servicing Fee shall be subdivided into the Class C Servicing Fee and the Class D Servicing Fee. The share of the Collateral Interest Servicing Fee allocable to the Class C Holders (the "Class C Servicing Fee") with respect to any Distribution DateDate shall be --------------------- equal to one-twelfth (1/12th) of the product of (a) the Servicing Fee Percentage and (b) the average Class C Adjusted Investor Amount; provided, prior to making any other withdrawals from the Collection Accounthowever, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Periodfirst Distribution Date, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Class C Servicing Fee shall be paid by the Holder equal to $54,375. The share of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder Servicing Fee allocable to the Class D Certificateholders (the "Class D Servicing Fee") with --------------------- respect to any Distribution Date shall be liable for equal to one-twelfth (1/12th) of the share product of (a) the Servicing Fee Percentage and (b) the average Class D Investor Amount; provided, however, with respect to be paid by the Holder of first Distribution Date, the Seller Certificate or the Certificateholders of any other Series. The (I) Class A D Servicing Fee shall be payable equal to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)$13,125. The Class A Servicing Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee and the Collateral Interest Servicing Fee (including the Class C Servicing Fee and the Class D Servicing Fee) shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) this Series Supplement. The remainder of the Collateral Monthly Servicing Fee shall be payable solely paid from amounts allocable to other Series (as provided in the extent amounts are available for distribution in respect thereof pursuant Agreement and the Supplements relating to SECTION 4.05(c)(isuch other Series) or 4.07(f)by the Transferor and in no event shall the Trust, the Trustee or the Series 2001-2 Certificateholders be liable for the share of the Monthly Servicing Fee to be paid from amounts allocable to any other Series or by the Transferor.

Appears in 1 contract

Samples: And Servicing Agreement (Saks Credit Corp)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20011999-1 A Holders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ), shall be equal to one-twelfth of the excess of (x) the product of (ai) the Servicing Fee Rate and (b) (iii) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountAmount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (bii) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount"); provided, however, that with respect to the first May 1999 Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be $365,972.00500,000. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") ), shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first May 1999 Distribution Date Date, the Class A Servicing Fee shall be $320,226.00415,000. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") ), shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first May 1999 Distribution Date, the Class B Servicing Fee shall be $21,958.0037,500. The share of the Monthly Servicing Fee allocable to the Collateral Class C Interest Holder Holders with respect to any Distribution Date (the "COLLATERAL SERVICING FEEClass C Servicing Fee") ), shall be equal to one-twelfth of the product of (1a) the Collateral Class C Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first May 1999 Distribution Date, the Collateral Class C Servicing Fee shall be $23,788.0047,500. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in In no event shall the Trust, the Trustee, or the Series 20011999-1 Certificateholders or the Collateral Interest Holder A Holders be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Certificates or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(iiSection 4.5(a)(ii), 4.07(a4.7(a), 4.8(a) or 4.08(a4.12(c), (ii) ; the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).to

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Fleet Credit Card Master Trust Ii)

Servicing Compensation. The share of monthly servicing fee (the Servicing Fee allocable to Series 2001-1 with respect to any Distribution Date shall be paid from Servicer Interchange and the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be payable to the Servicer, in arrears, on each Payment Date in respect of any Collection Period (or portion thereof) occurring prior to the earlier of the first Payment Date following the Final Maturity Date and the first Payment Date on which the Invested Amount is zero, in an amount equal to one-twelfth (1/12) of the excess of (x) the product of (a) the Servicing Fee Rate and (b) the Series Allocation Percentage of the Pool Balance as of the last day of the second Collection Period preceding such Payment Date (ior with respect to the first Payment Date, as of the Closing Date). The share of the Monthly Servicing Fee allocable to the Series 2003-VFN-B Holders with respect to any Payment Date (the "Noteholders' Monthly Servicing Fee") shall be equal to one-twelfth (1/12) of the product of (a) the Servicing Fee Rate and (b) the Invested Amount as of the last day of the Monthly Collection Period second preceding such Distribution Payment Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Payment Date, the Noteholders' Monthly Servicing Fee shall be equal to $83,333. The remainder of the Monthly Servicing Fee shall be $365,972.00. The paid by the Certificateholder and in no event shall the Trust, the Owner Trustee, the Indenture Trustee or the Series 2003-VFN-B Holders be liable for the share of the Monthly Servicing Fee allocable to be paid by the Class A Certificateholders with respect to any Distribution Date (Certificateholders; and the "CLASS A SERVICING FEE") shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (B) the Net Servicing Fee Rate and (C) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS B SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of Certificateholders and the Seller Certificate or the Certificateholders Noteholders of other Series (as provided in and the related Supplements) and Series 2003-VFN-B Holders shall in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate Certificateholders or the Certificateholders Noteholders of any other Series. The (I) Class A Noteholders' Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) accordance with the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)terms of this Series Supplement.

Appears in 1 contract

Samples: Wodfi LLC

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2001-1 2 Certificateholders and the Collateral Interest Holder with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountAmount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNTServicing Base Amount"); provided, however, with respect to the first Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") over shall be equal to $1,933,333.33. On each Distribution Date, but only if a Seller or The Bank of New York is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders (yafter giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicer Interchange Percentage Class A Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Class A Servicing Fee shall be equal to $365,972.00981,770.83. The share of the Monthly Servicing Fee allocable to the Class A B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS A SERVICING FEEClass B Servicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A B Floating Percentage, (Bb) the Net Servicing Fee Rate and (C) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS B SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be equal to $21,958.00120,833.33. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any such Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of (1c) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be equal to $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee105,729.17. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate Sellers or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 2 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate Sellers or the Certificateholders of any other Series. The (Ii) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION Section 4.05(a)(ii), 4.07(a) or 4.08(a), ; (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(iiSection 4.05(b)(iii), 4.07(c) or 4.08(b), ; and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION Section 4.05(c)(i) or 4.07(f).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capital One Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012014-1 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2014-1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).Base

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Servicing Compensation. A monthly servicing fee (the "Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Due Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Invested Amount and the CCA Invested Amount, if any, are zero, in the aggregate amount specified below. On each Distribution Date, Servicer Interchange with respect to the related Due Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Servicing Fee payable by the Series 1997-10 Certificateholders with respect to such Due Period. The share of the Servicing Fee allocable to Series 2001-1 with respect the Class A Certificateholders (after giving effect to any Distribution Date shall be paid from the distribution of Servicer Interchange and the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountInterchange, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders Servicer) with respect to any Distribution Date (the "CLASS Class A SERVICING FEEMonthly Servicing Fee") shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (Ba) the Net Servicing Fee Rate Rate, (b) the sum of the Invested Amount and the CCA Invested Amount, if any, as of the last day of the Due Period second preceding such Distribution Date and (Cc) the Servicing Base AmountClass A Invested Percentage with respect to such Distribution Date; provided, however, with respect to the first Distribution Date, the Class A Monthly Servicing Fee shall be equal to the Servicing Fee accrued on the Class A Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs the Class A Monthly Servicing Fee shall be $320,226.00increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is 30 minus the actual number of days in the period from and including the fifteenth day of the calendar month in which such Additional Issuance Date occurs to but excluding such Additional Issuance Date and the denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class A Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS Class B SERVICING FEEMonthly Servicing Fee") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2a) the Net Servicing Fee Rate Rate, (b) the sum of the Invested Amount and the CCA Invested Amount, if any, as of the last day of the Due Period second preceding such Distribution Date and (3c) the Servicing Base AmountClass B Invested Percentage with respect to such Distribution Date; provided, however, that with respect to the first Distribution Date, the Class B Monthly Servicing Fee shall be $21,958.00equal to the Servicing Fee accrued on the Class B Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs, the Class B Monthly Servicing Fee shall be increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is 30 minus the actual number of days in the period from and including the fifteenth day of the calendar month in which such Additional Issuance Date occurs to but excluding such Additional Issuance Date and the denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class B Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable allocable, on a pro rata basis, to the Cash Collateral Interest Holder Depositor and each Additional Cash Collateral Depositor (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date relating to the Early Amortization Period, following the Distribution Date on which the Class A Invested Amount and the Class B Invested Amount are paid in full (the "COLLATERAL SERVICING FEECCA Monthly Servicing Fee") ), shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2a) the Net Servicing Fee Rate and (3b) the Servicing Base CCA Invested Amount; provided, howeverif any, that with respect to as of the first last day of the Due Period second preceding such Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, Sellers shall pay a portion of the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account Servicing Fee with respect to the related Monthly Period, up Due Period in an amount equal to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment one-twelfth of the Series 2001-1 share product of the Servicing Fee. The remainder of (a) the Servicing Fee shall be paid by Rate, (b) the Holder Sellers' Participation Amount as of the Seller Certificate last day of the Due Period second preceding such Distribution Date (or, if a Lump Addition occurs or a removal of Accounts pursuant to Section 2.10 of the Certificateholders of other Series (as provided Agreement occurs in the related Supplementsfollowing Due Period, the weighted average of the Sellers' Participation Amount on the date on which such Lump Addition or removal of Accounts occurs (after giving effect thereto) and in the last day of the second preceding Due Period) and (c) the Series 1997-10 Allocation Percentage for the related Due Period. In no event shall the Trust, the Trustee, the Series 20011997-1 Certificateholders 10 Certificateholders, the Cash Collateral Depositor or the any Additional Cash Collateral Interest Holder Depositor be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other SeriesSellers. The (Ii) Class A Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(iiSection 4.06(a)(iii) or (c)(iii), 4.07(a) or 4.08(a)as the case may be, (ii) the Class B Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(iiSection 4.06(b)(ii) or (d)(ii), 4.07(c) or 4.08(b)as the case may be, and (iii) the Collateral CCA Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(fSection 4.09(e).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citibank South Dakota N A)

Servicing Compensation. A monthly servicing fee (the "Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Due Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Invested Amount and the CCA Invested Amount, if any, are zero, in the aggregate amount specified below. On each Distribution Date, Servicer Interchange with respect to the related Due Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Servicing Fee payable by the Series 1998-3 Certificateholders with respect to such Due Period. The share of the Servicing Fee allocable to Series 2001-1 with respect the Class A Certificateholders (after giving effect to any Distribution Date shall be paid from the distribution of Servicer Interchange and the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountInterchange, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders Servicer) with respect to any Distribution Date (the "CLASS Class A SERVICING FEEMonthly Servicing Fee") shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (Ba) the Net Servicing Fee Rate Rate, (b) the sum of the Invested Amount and the CCA Invested Amount, if any, as of the last day of the Due Period second preceding such Distribution Date and (Cc) the Servicing Base AmountClass A Invested Percentage with respect to such Distribution Date; provided, however, with respect to the first Distribution Date, the Class A Monthly Servicing Fee shall be equal to the Servicing Fee accrued on the Class A Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs the Class A Monthly Servicing Fee shall be $320,226.00increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is 30 minus the actual number of days in the period from and including the seventh day of the calendar month in which such Additional Issuance Date occurs to but excluding such Additional Issuance Date and the denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class A Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS Class B SERVICING FEEMonthly Servicing Fee") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2a) the Net Servicing Fee Rate Rate, (b) the sum of the Invested Amount and the CCA Invested Amount, if any, as of the last day of the Due Period second preceding such Distribution Date and (3c) the Servicing Base AmountClass B Invested Percentage with respect to such Distribution Date; provided, however, that with respect to the first Distribution Date, the Class B Monthly Servicing Fee shall be $21,958.00equal to the Servicing Fee accrued on the Class B Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs, the Class B Monthly Servicing Fee shall be increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is 30 minus the actual number of days in the period from and including the seventh day of the calendar month in which such Additional Issuance Date occurs to but excluding such Additional Issuance Date and the denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class B Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable allocable, on a pro rata basis, to the Cash Collateral Interest Holder Depositor and each Additional Cash Collateral Depositor (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date relating to the Early Amortization Period, following the Distribution Date on which the Class A Invested Amount and the Class B Invested Amount are paid in full (the "COLLATERAL SERVICING FEECCA Monthly Servicing Fee") ), shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2a) the Net Servicing Fee Rate and (3b) the Servicing Base CCA Invested Amount; provided, howeverif any, that with respect to as of the first last day of the Due Period second preceding such Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, Sellers shall pay a portion of the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account Servicing Fee with respect to the related Monthly Period, up Due Period in an amount equal to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment one-twelfth of the Series 2001-1 share product of the Servicing Fee. The remainder of (a) the Servicing Fee shall be paid by Rate, (b) the Holder Sellers' Participation Amount as of the Seller Certificate last day of the Due Period second preceding such Distribution Date (or, if a Lump Addition occurs or a removal of Accounts pursuant to Section 2.10 of the Certificateholders of other Series (as provided Agreement occurs in the related Supplementsfollowing Due Period, the weighted average of the Sellers' Participation Amount on the date on which such Lump Addition or removal of Accounts occurs (after giving effect thereto) and in the last day of the second preceding Due Period) and (c) the Series 1998-3 Allocation Percentage for the related Due Period. In no event shall the Trust, the Trustee, the Series 20011998-1 Certificateholders 3 Certificate-holders, the Cash Collateral Depositor or the any Additional Cash Collateral Interest Holder Depositor be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other SeriesSellers. The (Ii) Class A Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(iiSection 4.06(a)(iii) or (c)(iii), 4.07(a) or 4.08(a)as the case may be, (ii) the Class B Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(iiSection 4.06(b)(ii) or (d)(ii), 4.07(c) or 4.08(b)as the case may be, and (iii) the Collateral CCA Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(fSection 4.09(e).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citibank South Dakota N A)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2001-1 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, (or, in the case of the first Distribution Date, the product of (x) the actual number of days from and including the Closing Date to and including March 31, 2001, divided by 365, (y) the Servicing Fee Rate and (z) the Initial Invested Amount) minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2001-1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Centurion Bank)

Servicing Compensation. A monthly servicing fee (the "Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Due Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Invested Amount and the CCA Invested Amount, if any, are zero, in the aggregate amount specified below. On each Distribution Date, Servicer Interchange with respect to the related Due Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Servicing Fee payable by the Series 1999-7 Certificateholders with respect to such Due Period. The share of the Servicing Fee allocable to Series 2001-1 with respect the Class A Certificateholders (after giving effect to any Distribution Date shall be paid from the distribution of Servicer Interchange and the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountInterchange, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders Servicer) with respect to any Distribution Date (the "CLASS Class A SERVICING FEEMonthly Servicing Fee") shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (Ba) the Net Servicing Fee Rate Rate, (b) the sum of the Invested Amount and the CCA Invested Amount, if any, as of the last day of the Due Period second preceding such Distribution Date and (Cc) the Servicing Base AmountClass A Invested Percentage with respect to such Distribution Date; provided, however, with respect to the first Distribution Date, the Class A Monthly Servicing Fee shall be equal to the Servicing Fee accrued on the Class A Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs the Class A Monthly Servicing Fee shall be $320,226.00increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is 30 minus the actual number of days in the period from and including the fifteenth day of the calendar month in which such Additional Issuance Date occurs to but excluding such Additional Issuance Date and the denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class A Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS Class B SERVICING FEEMonthly Servicing Fee") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2a) the Net Servicing Fee Rate Rate, (b) the sum of the Invested Amount and the CCA Invested Amount, if any, as of the last day of the Due Period second preceding such Distribution Date and (3c) the Servicing Base AmountClass B Invested Percentage with respect to such Distribution Date; provided, however, that with respect to the first Distribution Date, the Class B Monthly Servicing Fee shall be $21,958.00equal to the Servicing Fee accrued on the Class B Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs, the Class B Monthly Servicing Fee shall be increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is 30 minus the actual number of days in the period from and including the fifteenth day of the calendar month in which such Additional Issuance Date occurs to but excluding such Additional Issuance Date and the denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class B Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable allocable, on a pro rata basis, to the Cash Collateral Interest Holder Depositor and each Additional Cash Collateral Depositor (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date relating to the Early Amortization Period, following the Distribution Date on which the Class A Invested Amount and the Class B Invested Amount are paid in full (the "COLLATERAL SERVICING FEECCA Monthly Servicing Fee") ), shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2a) the Net Servicing Fee Rate and (3b) the Servicing Base CCA Invested Amount; provided, howeverif any, that with respect to as of the first last day of the Due Period second preceding such Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, Sellers shall pay a portion of the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account Servicing Fee with respect to the related Monthly Period, up Due Period in an amount equal to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment one-twelfth of the Series 2001-1 share product of the Servicing Fee. The remainder of (a) the Servicing Fee shall be paid by Rate, (b) the Holder Sellers' Participation Amount as of the Seller Certificate last day of the Due Period second preceding such Distribution Date (or, if a Lump Addition occurs or a removal of Accounts pursuant to Section 2.10 of the Certificateholders of other Series (as provided Agreement occurs in the related Supplementsfollowing Due Period, the weighted average of the Sellers' Participation Amount on the date on which such Lump Addition or removal of Accounts occurs (after giving effect thereto) and in the last day of the second preceding Due Period) and (c) the Series 1999-7 Allocation Percentage for the related Due Period. In no event shall the Trust, the Trustee, the Series 20011999-1 Certificateholders 7 Certificateholders, the Cash Collateral Depositor or the any Additional Cash Collateral Interest Holder Depositor be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Sellers.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citibank South Dakota N A)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2001-1 5 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2001-5 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 2001-1 5 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012002-1 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2002-1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012002-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Centurion Bank)

Servicing Compensation. The share of the Servicing Fee allocable to Series 20011996-1 with respect to any Distribution Date shall be paid from Servicer Interchange and the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Transfer Date (the "CLASS A SERVICING FEEInvestor Servicing Fee") shall be equal to one-twelfth of the product of (Ai) the Class A Floating Percentage, Series Servicing Fee Percentage and (Bii) the Net Servicing Fee Rate and (C) Adjusted Investor Interest as of the Servicing Base Amountlast day of the Monthly Period preceding such Transfer Date; provided, however, provided that with respect to the first Distribution Date Transfer Date, the Class A Investor Servicing Fee shall be equal $320,226.0083,333.33. The share of the Monthly Investor Servicing Fee allocable to the Class B Certificateholders A Investor Interest with respect to any Distribution Transfer Date (the "CLASS B SERVICING FEEClass A Servicing Fee") shall be equal to one-twelfth of the product of (1i) the Class B A Floating PercentageAllocation, (2ii) Series Servicing Fee Percentage and (iii) the Net Servicing Fee Rate and (3) Adjusted Investor Interest as of the Servicing Base Amountlast day of the Monthly Period preceding such Transfer Date; provided, however, provided that with respect to the first Distribution Transfer Date, the Class A Servicing Fee shall equal $73,333.33. The share of the Investor Servicing Fee allocable to the Class B Investor Interest with respect to any Transfer Date (the "Class B Servicing Fee") shall equal one-twelfth of the product of (i) the Class B Floating Allocation, (ii) the Series Servicing Fee Percentage Rate and (iii) the Adjusted Investor Interest as of the last day of the Monthly Period preceding such Transfer Date; provided that with respect to the first Transfer Date, the Class B Servicing Fee shall be equal $21,958.004,166.67. The share of the Monthly Investor Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Transfer Date (the "COLLATERAL SERVICING FEECollateral Interest Servicing Fee") shall be equal to one-twelfth of the product of (1i) the Collateral Floating PercentageAllocation, (2ii) the Net Series Servicing Fee Rate Percentage and (3iii) the Servicing Base AmountAdjusted Investor Interest as of the last day of the Monthly Period preceding such Transfer Date; provided, however, provided that with respect to the first Distribution Transfer Date, the Collateral Interest Servicing Fee shall be equal $23,788.005,833.33. On each Distribution DateExcept as specifically provided above, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of cash flows from the Seller Certificate Trust allocated to Transferor or the Certificateholders certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders Trustee or the Collateral Interest Holder Investor Holders be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Seriestherefor. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(iisubsections 4.11(a)(ii) and 4.13(a), 4.07(a) or 4.08(a), (ii) the . The Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(iisubsections 4.11(b)(ii) and 4.13(c), 4.07(c) or 4.08(b), and (iii) the . The Collateral Interest Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(isubsection 4.13(f) or 4.07(fif applicable subsection 4.11(c)(i).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mellon Bank Premium Finance Loan Master Trust)

Servicing Compensation. A monthly servicing fee (the "Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of the prior Due Period (or portion thereof) occurring before the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Series [ ] Invested Amount is zero, in the aggregate amount specified below. On each Distribution Date, Servicer Interchange with respect to the related Due Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Servicing Fee payable by the Series [ ] Certificateholders with respect to such Due Period. The share of the Servicing Fee allocable to the Series 2001-1 with respect [ ] Certificateholders (after giving effect to any Distribution Date shall be paid from the distribution of Servicer Interchange and the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountInterchange, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders Servicer) with respect to any Distribution Date (the "CLASS A SERVICING FEESeries [ ] Monthly Servicing Fee") shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (Ba) the Net Servicing Fee Rate and (Cb) the Servicing Base AmountSeries [ ] Invested Amount as of the last day of the Due Period second preceding such Distribution Date; provided, however, that with respect to the first Distribution Date Date, the Class A Series [ ] Monthly Servicing Fee shall be $320,226.00equal to the Servicing Fee accrued on the Series [ ] Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months. The share On each Distribution Date, the Banks shall pay a portion of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS B SERVICING FEE") shall be related Due Period in an amount equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3a) the Servicing Base Amount; providedFee Rate, however, that with respect to (b) the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share Sellers' Participation Amount as of the Monthly Servicing Fee allocable to last day of the Collateral Interest Holder with respect to any Due Period second preceding such Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal or, if a Lump Addition occurs or a removal of Accounts pursuant to one-twelfth Section 2.10 of the product Agreement occurs in the following Due Period, the weighted average of the Sellers' Participation Amount on the date on which such Lump Addition or removal of Accounts occurs (1after giving effect thereto) and the last day of the second preceding Due Period) and (c) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to Series [ ] Allocation Percentage for the related Monthly Due Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in In no event shall the Trust, the Trustee, Trustee or the Series 2001-1 [ ] Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other SeriesBanks. The (Ii) Class A Series [ ] Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(fSection 4.02(a)(i).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citibank Nevada National Association)

Servicing Compensation. The share of the Servicing Fee ---------------------- allocable to the Series 20011999-1 3 Certificateholders and the Collateral Interest Holder with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountAmount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount"); provided, however, that with -------- ------- respect to the first Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be $365,972.00equal to the Servicing Fee accrued on the Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date. On each Distribution Date, but only if the Seller or The Bank of New York is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that -------- ------- with respect to the first Distribution Date Date, the Class A Servicing Fee shall be $320,226.00equal to the product of the Class A Floating Percentage as of the first Distribution Date and the Initial Servicing Fee. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that -------- ------- with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00equal to product of the Class B Floating Percentage as of the first Distribution Date and the Initial Servicing Fee. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any such Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of (1c) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect equal to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment product of the Series 2001-1 share Collateral Floating Percentage as of the first Distribution Date and the Initial Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 20011999-1 3 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (Ii) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION Section 4.05(a)(ii), 4.07(a) or 4.08(a), ; (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION Section 4.05(b)(ii), 4.07(c) or 4.08(b), ; and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION Section 4.05(c)(i) or 4.07(f).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capital One Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2001-1 5 Certificateholders and the Collateral Interest Holder with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountAmount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT"“Servicing Base Amount”); provided, however, with respect to the first Distribution Date, the Monthly Servicing Fee (the “Initial Servicing Fee”) over shall be equal to $500,000. On each Distribution Date, but only if a Seller or The Bank of New York is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders (yafter giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicer Interchange Percentage Class A Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS A SERVICING FEE") shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (B) the Net Servicing Fee Rate and (C) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be equal to $320,226.00264,062.50. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be equal to $21,958.0024,218.75. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any such Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of (1c) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be equal to $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee24,218.75. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate Sellers or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 5 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate Sellers or the Certificateholders of any other Series. The (Ii) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION Section 4.05(a)(ii), 4.07(a) or 4.08(a), ; (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(iiSection 4.05(b)(iii), 4.07(c) or 4.08(b), ; and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION Section 4.05(c)(i) or 4.07(f).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capital One Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012013-1 3 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2013-3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012013-1 3 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to Series 20012002-1 with respect to any Distribution Date shall be paid from Servicer Interchange and the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Transfer Date (the "CLASS A SERVICING FEE"“Investor Servicing Fee”) shall be equal to one-twelfth of the product of (Ai) the Class A Floating Percentage, Series Servicing Fee Percentage and (Bii) the Net Servicing Fee Rate and (C) Adjusted Investor Interest as of the Servicing Base Amountlast day of the Monthly Period preceding such Transfer Date; provided, however, provided that with respect to the first Distribution Date Transfer Date, the Class A Investor Servicing Fee shall be equal $320,226.00[ ]. The share of the Monthly Investor Servicing Fee allocable to the Class B Certificateholders A Investor Interest with respect to any Distribution Transfer Date (the "CLASS B SERVICING FEE"“Class A Servicing Fee”) shall be equal to one-twelfth of the product of (1i) the Class B A Floating PercentageAllocation, (2ii) Series Servicing Fee Percentage and (iii) the Net Servicing Fee Rate and (3) Adjusted Investor Interest as of the Servicing Base Amountlast day of the Monthly Period preceding such Transfer Date; provided, however, provided that with respect to the first Distribution Transfer Date, the Class A Servicing Fee shall equal $[ ]. The share of the Investor Servicing Fee allocable to the Class B Investor Interest with respect to any Transfer Date (the “Class B Servicing Fee”) shall equal one-twelfth of the product of (i) the Class B Floating Allocation, (ii) the Series Servicing Fee Percentage and (iii) the Adjusted Investor Interest as of the last day of the Monthly Period preceding such Transfer Date; provided that with respect to the first Transfer Date, the Class B Servicing Fee shall be equal $21,958.00[ ]. The share of the Monthly Investor Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Transfer Date (the "COLLATERAL SERVICING FEE"“Collateral Interest Servicing Fee”) shall be equal to one-twelfth of the product of (1i) the Collateral Floating PercentageAllocation, (2ii) the Net Series Servicing Fee Rate Percentage and (3iii) the Servicing Base AmountAdjusted Investor Interest as of the last day of the Monthly Period preceding such Transfer Date; provided, however, provided that with respect to the first Distribution Transfer Date, the Collateral Interest Servicing Fee shall be equal $23,788.00[ ]. On each Distribution DateExcept as specifically provided above, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of cash flows from the Seller Certificate Trust allocated to the Transferor or the Certificateholders certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders Trustee or the Collateral Interest Holder Investor Holders be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Seriestherefor. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(iisubsections 4.11(a)(iii) and 4.13(b), 4.07(a) or 4.08(a), (ii) the . The Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(iisubsections 4.11(b)(iii) and 4.13(d), 4.07(c) or 4.08(b), and (iii) the . The Collateral Interest Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(isubsection 4.13(g) or 4.07(fif applicable subsection 4.11(c)(ii).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mellon Bank Premium Finance Loan Master Trust)

Servicing Compensation. The share of monthly servicing fee (the Servicing Fee allocable to Series 2001-1 with respect to any Distribution Date shall be paid from Servicer Interchange and the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be payable to the Servicer, in arrears, on each Payment Date in respect of any Collection Period (or portion thereof) occurring prior to the earlier of the first Payment Date following the Final Maturity Date and the first Payment Date on which the Invested Amount is zero, in an amount equal to one-twelfth (1/12) of the excess of (x) the product of (a) the Servicing Fee Rate and (b) the Series Allocation Percentage of the Pool Balance as of the last day of the second Collection Period preceding such Payment Date (ior with respect to the first Payment Date, as of 11 the Closing Date). The share of the Monthly Servicing Fee allocable to the Series 2003-VFN-A Holders with respect to any Payment Date (the "Noteholders' Monthly Servicing Fee") shall be equal to one-twelfth (1/12) of the product of (a) the Servicing Fee Rate and (b) the Invested Amount as of the last day of the Monthly Collection Period second preceding such Distribution Payment Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Payment Date, the Noteholders' Monthly Servicing Fee shall be equal to $166,667. The remainder of the Monthly Servicing Fee shall be $365,972.00. The paid by the Certificateholder and in no event shall the Trust, the Owner Trustee, the Indenture Trustee or the Series 2003-VFN-A Holders be liable for the share of the Monthly Servicing Fee allocable to be paid by the Class A Certificateholders with respect to any Distribution Date (Certificateholders; and the "CLASS A SERVICING FEE") shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (B) the Net Servicing Fee Rate and (C) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS B SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of Certificateholders and the Seller Certificate or the Certificateholders Noteholders of other Series (as provided in and the related Supplements) and Series 2003-VFN-A Holders shall in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate Certificateholders or the Certificateholders Noteholders of any other Series. The (I) Class A Noteholders' Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) accordance with the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)terms of this Series Supplement.

Appears in 1 contract

Samples: Wodfi LLC

Servicing Compensation. The share of the Servicing Fee ---------------------- allocable to the Series 2001-1 199_-_ Certificateholders and the Class C Interest Holders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountAmount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount"); provided, however, that with -------- ------- respect to the first Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be $365,972.00equal to the Servicing Fee accrued on the Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date. On each Distribution Date, but only if the Seller or The Bank of New York is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that -------- ------- with respect to the first Distribution Date Date, the Class A Servicing Fee shall be $320,226.00equal to the product of the Class A Floating Percentage as of the first Distribution Date and the Initial Servicing Fee, and provided further, that with -------- ------- respect to the first Distribution Date following the Monthly Period in which an Additional Issuance Date occurs the Class A Servicing Fee shall be increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is the actual number of days in the period from and including such Additional Issuance Date to but excluding such Distribution Date and the denominator of which is 360, (c) the increase in the Invested Amount as a result of such Additional Issuance and (d) the Class A Floating Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that -------- ------- with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00equal to product of the Class B Floating Percentage as of the first Distribution Date and the Initial Servicing Fee, and provided, further, that with respect to -------- ------- the first Distribution Date following the Monthly Period in which an Additional Issuance Date occurs, the Class B Servicing Fee shall be increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is the actual number of days in the period from and including such Additional Issuance Date to but excluding such Distribution Date and the denominator of which is 360, (c) the increase in the Invested Amount as a result of such Additional Issuance and (d) the Class B Floating Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).Class

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capital One Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012015-1 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2015-1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).Base

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012003-1 A Holders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ), shall be equal to one-twelfth of the excess of (x) the product of (ai) the Servicing Fee Rate and (b) (iii) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountAmount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (bii) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount"); provided, however, that with respect to the first April 2003 Distribution Date, the Monthly Servicing Fee shall be $365,972.00734,375. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") ), shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first April 2003 Distribution Date Date, the Class A Servicing Fee shall be $320,226.00624,219. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") ), shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first April 2003 Distribution Date, the Class B Servicing Fee shall be $21,958.0044,062. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") ), shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).to

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Fleet Credit Card Master Trust Ii)

Servicing Compensation. The share of the Servicing Fee ---------------------- allocable to the Series 20012002-1 2 Certificateholders and the Collateral Interest Holder with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountAmount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount"); provided, however, that with -------- ------- respect to the first Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be equal to $365,972.00482,222.22. On each Distribution Date, but only if a Seller or The Bank of New York is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that -------- ------- with respect to the first Distribution Date Date, the Class A Servicing Fee shall be equal to $320,226.00244,878.47. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect (after giving effect to any Distribution Date (the "CLASS B SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).the

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capital One Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2001-1 C Holders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ), shall be equal to one-twelfth of the excess of (x) the product of (ai) the Servicing Fee Rate and (b) (iii) the Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountAmount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (bii) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount"); provided, however, that with respect to the first December 2001 Distribution Date, the Monthly Servicing Fee shall be $365,972.001,055,556. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") ), shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first December 2001 Distribution Date Date, the Class A Servicing Fee shall be $320,226.00902,500. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") ), shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first December 2001 Distribution Date, the Class B Servicing Fee shall be $21,958.0063,333. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") ), shall be equal to one-twelfth of the product of (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first December 2001 Distribution Date, the Collateral Servicing Fee shall be $23,788.0089,722. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in In no event shall the Trust, the Trustee, or the Series 2001-1 Certificateholders or the Collateral Interest Holder C Holders be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Certificates or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(iiSection 4.5(a)(ii), 4.07(a4.7(a) or 4.08(a4.8(a), (ii) ; the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(iiSection 4.5(b)(ii), 4.07(c4.7(c) or 4.08(b4.8(b), ; and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(iSection 4.5(c)(i) or 4.07(f4.7(g).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Fleet Credit Card Master Trust Ii)

Servicing Compensation. The share of monthly servicing fee (the Servicing Fee allocable to Series 2001-1 with respect to any Distribution Date shall be paid from Servicer Interchange and the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Collection Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Series 1996-2 Termination Date and the first Distribution Date on which the Invested Amount is zero, in an amount equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) the Series 1996-2, Allocation Percentage of the Pool Balance as of the last day of the second Collection Period preceding such Distribution Date (ior with respect to the first Distribution Date, as of the Series Cut-Off Date). The share of the Servicing Fee allocable to the Series 1996-2 Certificateholders with respect to any Distribution Date (the "Certificateholders Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) the Invested Amount as of the last day of the Monthly Collection Period second preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Certificateholders Monthly Servicing Fee shall be equal to $365,972.00666,666.67. The remainder of the Monthly Servicing Fee shall be paid by the Seller and in no event shall the Trust, the Trustee or the Series 1996-2 Certificateholders be liable for the share of the Monthly Servicing Fee allocable to be paid by the Class A Certificateholders with respect to any Distribution Date (Seller; and the "CLASS A SERVICING FEE") shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (B) the Net Servicing Fee Rate and (C) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS B SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of Seller and the Seller Certificate or the Investor Certificateholders of other Series (as provided in and the related Supplements) and Series 1996-2 Certificateholders shall in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Investor Certificateholders of any other Series. The (I) Class A Certificate-holders Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant accordance with the terms of this Series Supplement. The Servicer will be permitted, in its sole discretion, to SECTION 4.05(a)(ii)waive the Monthly Servicing Fee for any Distribution Date by notice to the Trustee on or before the related Determination Date; provided that the Servicer believes that sufficient Collections of Non-Principal Receivables will be available on any future Distribution Date to pay the Certificateholders Monthly Servicing Fee relating to the waived Monthly Servicing Fee. If the Servicer so waives the Monthly Servicing Fee for any Distribution Date, 4.07(a) or 4.08(a)the Monthly Servicing Fee and the Certificateholders Monthly Servicing Fee for such Distribution Date shall be deemed to be zero for all purposes of this Series Supplement and the Agreement; provided, (ii) the Class B however, that such Certificateholders Monthly Servicing Fee shall be payable paid on a future Distribution Date solely to the extent amounts are available for distribution in respect thereof therefor pursuant to SECTION 4.05(b)(iiSection 4.10(b); provided further that, 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant any such Waived Certificateholders Monthly Servicing Fee is so paid, the related portion of the Monthly Servicing Fee to SECTION 4.05(c)(i) or 4.07(f)be paid by the Seller shall be paid by the Seller to the Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ford Credit Auto Loan Master Trust)

Servicing Compensation. The share of the Monthly Servicing Fee allocable to the Series 20011997-1 2 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Investor Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate Percentage and (b) (i) the Invested Amount as of the last day of the Monthly Period second preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base AmountCollection Period; provided, however, that with respect to the 30 first Distribution Date, the Investor Monthly Servicing Fee shall be equal to $365,972.00[__________]. The share of the Investor Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (B) Invested Amount as of the Net Servicing Fee Rate last day of the second preceding Collection Period and (Cb) the Servicing Base AmountFee Percentage; provided, however, that with respect to the first Distribution Date Date, the Class A Servicing Fee shall be equal to $320,226.00[__________]. The share of the Investor Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2) Invested Amount as of the Net Servicing Fee Rate last day of the second preceding Collection Period and (3b) the Servicing Base AmountFee Percentage; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be equal to $21,958.00[__________]. The share of the Investor Monthly Servicing Fee allocable to the Collateral Interest Indebtedness Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of (1a) the Collateral Floating Percentage, (2) Indebtedness Amount as of the Net Servicing Fee Rate last day of the second preceding Collection Period and (3b) the Servicing Base AmountFee Percentage; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be equal to $23,788.00[__________]. On each The share of the Investor Monthly Servicing Fee allocable to the Class D Certificateholders with respect to any Distribution DateDate (the "Class D Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class D Invested Amount as of the last day of the second preceding Collection Period and (b) the Servicing Fee Percentage; provided, prior to making any other withdrawals from the Collection Accounthowever, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account that with respect to the related Monthly Periodfirst Distribution Date, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Class D Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee equal to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series$[__________]. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee, the Collateral Servicing Fee and the Class D Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) this Series Supplement. The remainder of the Collateral Monthly Servicing Fee shall be payable solely paid by the Transferor or from amounts allocable to other Series (as provided in the extent Agreement and the Supplements relating to such other Series) and in no event shall the Trust, the Trustee or the Series 1997-2 Certificateholders be liable for the share of the Monthly Servicing Fee to be paid by the Transferor or from amounts are available for distribution in respect thereof pursuant allocable to SECTION 4.05(c)(i) or 4.07(f)any other Series.

Appears in 1 contract

Samples: Master Pooling and Servicing Agreement (Fnanb Credit Card Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012007-1 7 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2007-7 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012007-1 7 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20012014-1 4 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 2014-4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012014-1 4 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2001201[ ]-1 [ ] Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 201[ ]-[ ] Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS “Class A SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f).Base

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Servicing Compensation. The share monthly servicing fee hereunder shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Collection Period (or portion thereof) occurring prior to the earlier of the Servicing Fee allocable to Series 20012000-1 with respect to any Termination Date and the first Distribution Date shall be paid from Servicer Interchange and on which the Monthly Servicing FeeInvested Amount is zero. The "MONTHLY SERVICING FEE" shall be An amount equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Invested Amount as of the last day of the Monthly Collection Period preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period second preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated "Monthly Servicing Fee") shall be paid on behalf of the Certificateholders pursuant to this clause Sections 4.06(a)(iii) and (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amountvi); provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be equal to $365,972.00[__________]. The share A portion of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS A SERVICING FEENet Servicing Fee") will be payable in the priority set forth in Section 4.06(a) and, on each such Distribution Date shall be an amount equal to one-twelfth of the product of (A) the Class A Floating Percentage, (Ba) the Net Servicing Fee Rate and (Cb) the Servicing Base AmountInvested Amount as of the last day of the Collection Period second preceding such Distribution Date; provided, however, that with respect to the first Distribution Date the Class A Net Servicing Fee shall be $320,226.00[__________]. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS B SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Class B Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the Collateral Floating Percentage, (2) the Net Servicing Fee Rate and (3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder remaining portion of the Servicing Fee not allocable to the Certificates shall be paid by the Holder of the Seller BCRC Certificate, the Holder(s) of any Supplemental Certificates(s), the Holder of the Variable Funding Certificate or and the Certificateholders Holders of other outstanding Series (as provided in the related Supplements) of Investor Certificates, and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders Trustee or the Collateral Interest Holder Holders of the Certificates be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Seriessuch remaining portion. The (I) Class A Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 accordance with the terms of this Series Supplement. The Servicer will be permitted, in its sole discretion, to waive the Monthly Servicing Fee for any Distribution Date by written notice given to the Trustee at least two Business Days prior to such Distribution Date; provided, however, that the Servicer believes that sufficient Non-Principal Collections will be available on any future Distribution Date to pay the Monthly Servicing Fee relating to the amount thereof pursuant so waived. If the Servicer so waives the Monthly Servicing Fee for any Distribution Date, the Monthly Servicing Fee (including the Net Servicing Fee) for such Distribution Date shall be deemed to SECTION 4.05(a)(ii)be zero for all purposes of this Series Supplement and the Agreement; and provided further, 4.07(a) or 4.08(a), (ii) the Class B that such Monthly Servicing Fee shall be payable paid on a future Distribution Date solely to the extent amounts are available for distribution in respect thereof therefor pursuant to SECTION 4.05(b)(ii), 4.07(cSection 4.09(b) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bombardier Receivables Master Trust I)

Servicing Compensation. The share of the Monthly Servicing Fee allocable to Series 20012002-1 (the "Series 2002-1 Investor Monthly Servicing Fee") with respect to any Distribution Date shall be paid from Servicer Interchange and the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" Due Period shall be equal to one-twelfth of the excess product of (xi) the product of Series Servicing Fee Percentage and (ii) (a) the Servicing Fee Rate and (b) (i) the Invested Amount Investor Interest as of the last day of the Monthly such Due Period preceding such Distribution Date, minus (iib) the product of the amount, if any, on deposit in the Special Excess Funding Account as of the last day of the Monthly such Due Period preceding such Distribution Date and the Floating Principal Allocation Percentage with respect to for such Monthly Due Period (the amount calculated pursuant to this clause (bii) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount"); provided, however, that with respect to the first Distribution Due Period ending after the Closing Date, the Series 2002-1 Investor Monthly Servicing Fee shall be equal to $365,972.00144,443. The share of the Series 2002-1 Investor Monthly Servicing Fee allocable to the Class A Certificateholders Investor Interest with respect to any Distribution Date Due Period (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Ai) the Class A Floating Allocation, (ii) the Series Servicing Fee Percentage, (B) the Net Servicing Fee Rate and (Ciii) the Servicing Base AmountAmount for such Due Period; provided, however, that with respect to the first Distribution Date Due Period ending after the Closing Date, the Class A Servicing Fee shall be equal to $320,226.0091,722. The share of the Series 2002-1 Investor Monthly Servicing Fee allocable to the Class B Certificateholders Investor Interest with respect to any Distribution Date Due Period (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1i) the Class B Floating PercentageAllocation, (2ii) the Net Series Servicing Fee Rate Percentage and (3iii) the Servicing Base AmountAmount for such Due Period; provided, however, that with respect to the first Distribution Due Period ending after the Closing Date, the Class B Servicing Fee shall be equal to $21,958.0023,833. The share of the Series 2002-1 Investor Monthly Servicing Fee allocable to the Collateral Class C Investor Interest Holder with respect to any Distribution Date Due Period (the "COLLATERAL SERVICING FEEClass C Servicing Fee") shall be equal to one-twelfth of the product of (1i) the Collateral Class C Floating PercentageAllocation, (2ii) the Net Series Servicing Fee Rate Percentage and (3iii) the Servicing Base AmountAmount for such Due Period; provided, however, that with respect to the first Distribution Due Period ending after the Closing Date, the Collateral Class C Servicing Fee shall be equal to $23,788.0013,722. On each Distribution The share of the Series 2002-1 Investor Monthly Servicing Fee allocable to the Class D-1 Investor Interest with respect to any Due Period (the "Class D-1 Servicing Fee") shall be equal to one-twelfth of the product of (i) the Class D-1 Floating Allocation, (ii) the Series Servicing Fee Percentage and (iii) the Servicing Base Amount for such Due Period; provided, however, that with respect to the first Due Period ending after the Closing Date, prior the Class D-1 Servicing Fee shall be equal to making $0. The share of the Series 2002-1 Investor Monthly Servicing Fee allocable to the Class D-2 Investor Interest with respect to any other withdrawals from Due Period (the Collection Account"Class D-2 Servicing Fee") shall be equal to one-twelfth of the product of (i) the Class D-2 Floating Allocation, (ii) the Series Servicing Fee Percentage and (iii) the Servicing Base Amount for such Due Period; provided, however, that with respect to the first Due Period ending after the Closing Date, the Class D-2 Servicing Fee shall be equal to $15,166. If a Successor Servicer that is not an Affiliate of the Seller is appointed, such Successor Servicer shall applybe entitled to receive, or in addition to the Series 2002-1 Investor Monthly Service Fee, such additional servicing fee with respect to Series 2002-1 as may be agreed upon in writing between such Successor Servicer and the Trustee; provided that such additional compensation shall instruct be payable solely from, and to the Trustee to applyextent of, amounts funds then on deposit in the Collection Servicing Reserve Account. If any such Successor Servicer shall be entitled to an additional servicing fee, the Indenture Trustee shall withdraw an amount equal to such additional fee from the Servicing Reserve Account with respect for payment to the related Successor Servicer when due. Except as specifically provided above, the Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holder of cash flows from the Trust allocated to the Seller Certificate or the Certificateholders of other Series (as provided in the related SupplementsSupplements or Receivables Purchase Agreements) and in no event shall the Trust, the Trustee, Trustee or the Series 20012002-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Seriestherefor. The (I) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(iisubsections 4.9(a)(ii) and 4.11(a), 4.07(a) or 4.08(a), (ii) the . The Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(iisubsections 4.9(b)(ii) and 4.11(c), 4.07(c) or 4.08(b), and (iii) the Collateral . The Class C Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(isubsections 4.9(c)(i) and 4.11(e). The Class D Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to subsections 4.9(d)(i) and 4.11(j). The Seller hereby directs the Servicer, for the benefit of the Series 2002-1 Certificateholders, to establish and maintain or 4.07(fcause to be established and maintained in the name of the Trustee, on behalf of the Series 2002-1 Certificateholders, with a Qualified Depository Institution (which initially shall be the Trustee) a segregated trust account (the "Servicing Reserve Account")., bearing a designation clearly indicating that the funds deposited therein are held for the benefit of any Successor Servicer that is not an Affiliate of the Seller. The Seller does hereby transfer, assign, set over and otherwise convey to the Trust for the benefit of any Successor Servicer that is not an Affiliate of the Seller, without recourse, all of its right, title and interest in, to and under the Servicing Reserve Account, any cash and/or investments on deposit therein and any proceeds of the foregoing, including the investment earnings. The Servicing Reserve Account shall be under the sole dominion and control of the Trustee for the benefit of any Successor Servicer that is not an Affiliate of the Seller. If, at any time, the institution holding the Servicing Reserve Account ceases to be a Qualified Depository Institution, the Seller shall direct the Servicer to establish within 10 Business Days a new Servicing Reserve Account meeting the conditions specified above with a Qualified Depository Institution, transfer any cash and/or any investments to such new Servicing Reserve Account and from the date such new Servicing Reserve Account is established, it shall be the "Servicing

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Charming Shoppes Inc)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20011997-1 Certificateholders with respect to any Distribution Date shall be paid from Servicer Interchange and (the "Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Series 1997-1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount"); provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be equal to $365,972.001,833,333.33. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS Class A SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (Aa) the Class A Floating Percentage, (Bb) the Net Servicing Fee Rate and (Cc) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date Date, the Class A Servicing Fee shall be equal to $320,226.001,585,833.33. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "CLASS Class B SERVICING FEEServicing Fee") shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be equal to $21,958.00110,000.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "COLLATERAL SERVICING FEECollateral Servicing Fee") shall be equal to one-twelfth of the product of the (1a) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be equal to $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee137,500.00. The remainder of the Servicing Fee shall be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, Trustee or the Series 20011997-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder Holders of the Seller Certificate Transferor Certificates or the Certificateholders investor certificateholders of any other Series. The (I) To the extent that the Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii)Fee, 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be payable solely to paid by the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(c)(i) or 4.07(f)Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2001-1 Certificateholders and the Collateral Interest Holder with respect to any Distribution Date shall be paid from Servicer Interchange and (the Monthly Servicing Fee. The "MONTHLY SERVICING FEE" ”) shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, minus (ii) the product of the amountAmount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT"“Servicing Base Amount”); provided, however, with respect to the first Distribution Date, the Monthly Servicing Fee (the “Initial Servicing Fee”) over shall be equal to $200,000.00. On each Distribution Date, but only if the Seller or The Bank of New York is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders (yafter giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicer Interchange Percentage Class A Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "CLASS A SERVICING FEE") shall be equal to one-twelfth of the product of (A) the Class A Floating Percentage, (B) the Net Servicing Fee Rate and (C) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be equal to $320,226.00101,562.50. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "CLASS “Class B SERVICING FEE"Servicing Fee”) shall be equal to one-twelfth of the product of (1a) the Class B Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be equal to $21,958.0012,500.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any such Distribution Date (the "COLLATERAL SERVICING FEE"“Collateral Servicing Fee”) shall be equal to one-twelfth of the product of (1c) the Collateral Floating Percentage, (2b) the Net Servicing Fee Rate and (3c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be equal to $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee10,937.50. The remainder of the Servicing Fee shall be paid by the Holder of the Seller Certificate or the Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee, the Series 2001-1 Certificateholders or the Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holder of the Seller Certificate or the Certificateholders of any other Series. The (Ii) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION Section 4.05(a)(ii), 4.07(a) or 4.08(a), ; (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION Section 4.05(b)(ii), 4.07(c) or 4.08(b), ; and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION Section 4.05(c)(i) or 4.07(f).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capital One Master Trust)

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