Common use of Servicing Compensation Clause in Contracts

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 4 contracts

Sources: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), 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 As full compensation for its servicing activities hereunder and as reimbursement for its expenses as set forth in the Servicing Fee allocable immediately following paragraph, the Servicer shall be entitled to the Series 20[__]-[_] Certificateholders with respect to any Distribution Date receive a servicing fee (the “Monthly Servicing Fee”) shall be with respect to each Monthly Period prior to the Termination of the Trust pursuant to Section 12.01, payable monthly on the related Transfer Date, in an amount equal to one-twelfth of the product of (a) the weighted average of the Series Servicing Fee Rate Percentages with respect to each outstanding Series (based upon the Series Servicing Fee Percentage for each Series and (b) (i) the Adjusted Invested Amount Investor Interest (or such other amount as specified in the related Supplement) of such Series, in each case as of the last day of the prior Monthly Period preceding such Distribution Date minus (iiPeriod) 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 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”)average amount of Principal Receivables during the prior Monthly Period. The share of the Monthly Servicing Fee allocable to Investor Certificates (the Class A Certificateholders “Investor Servicing Fee”) of a particular Series with respect to any Distribution Date (Monthly Period will each be determined in accordance with the “Class A Servicing Fee”) shall be equal to one-twelfth relevant Supplement. The portion of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable Period not so allocated to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth Investor Certificates of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee a particular Series shall be paid by the Holders Holder of the Transferor Certificates or the investor certificateholders of other Series (as provided in Seller Certificate on the related Supplements) Transfer Date and in no event shall the Trust, the Trustee or the Investor Certificateholders of any Series 20[__]-[_] Certificateholders be liable for the share of the Servicing Fee with respect to any Monthly Period to be paid by the Holders of the Transferor Seller Certificates (the “Seller Servicing Fee”). The Servicer’s expenses include the amounts due to the Trustee pursuant to Section 11.05 and the reasonable fees and disbursements of independent public accountants and all other expenses incurred by the Servicer in connection with its activities hereunder; provided, that the Servicer shall not be liable for any liabilities, costs or expenses of the Trust, the Investor Certificateholders or the investor certificateholders of Certificate Owners arising under any tax law, including without limitation any federal, state or local income or franchise taxes or any other Seriestax imposed on or measured by income (or any interest or penalties with respect thereto or arising from a failure to comply therewith). To The Servicer shall be required to pay such expenses for its own account and shall not be entitled to any payment therefor other than the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 3 contracts

Sources: Pooling and Servicing Agreement (BA Credit Card Trust), Pooling and Servicing Agreement (BA Credit Card Trust), Pooling and Servicing Agreement (Mbna America Bk Nat Assoc Mbna Master Credit Card Trust 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 Series 2009 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 2009 Certificateholders with respect to such Due Period. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2009 Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the “Series 2009 Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Net Servicing Fee Rate and (b) (i) the Adjusted Series 2009 Invested Amount as of the last day of the Monthly Due Period second preceding such Distribution Date minus (ii) the product of the amountDate; provided, if anyhowever, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20[__]-[_] Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as first Distribution Date, the “Servicing Base Amount”). The share of the Series 2009 Monthly Servicing Fee allocable shall be equal to the Class A Certificateholders Servicing Fee accrued on the Series 2009 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. On each Distribution Date, the Seller shall pay a portion of the Servicing Fee with respect to any Distribution Date (the “Class A Servicing Fee”) shall be related Due Period in an amount equal to one-twelfth of the product of (a) the Class A Floating PercentageServicing Fee Rate, (b) the Servicing Fee Rate Seller’s Participation Amount as of the 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 Agreement occurs in the following Due Period, the weighted average of the Seller’s Participation Amount on the date on which such Lump Addition or removal of Accounts occurs (after giving effect thereto) and the last day of the second preceding Due Period) and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in 2009 Allocation Percentage for the related Supplements) and in Due Period. In no event shall the Trust, the Trustee or the Series 20[__]-[_] 2009 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of Seller. The Series 2009 Monthly Servicing Fee shall be payable to the Transferor Certificates or the investor certificateholders of any other Series. To Servicer solely to the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee amounts are not paid in full available for distribution pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.05(a)(ii).

Appears in 3 contracts

Sources: Pooling and Servicing Agreement, Pooling and Servicing Agreement (Citibank, N.A., as Depositor of Citibank Credit Card Issuance Trust), Pooling and Servicing Agreement (Citibank South Dakota N A)

Servicing Compensation. (a) As compensation for its servicing activities hereunder and reimbursement for its expenses as set forth in the immediately following paragraph, the Servicer shall be entitled to receive a servicing fee prior to the termination of the Trust pursuant to Section 12.01 (the "Servicing Fee"), ------------- ------------- payable on the dates specified in the applicable Supplement, equal to the product of (i) one-twelfth, (ii) the weighted average Servicing Fee Percentage (based upon the Servicing Fee Percentage for each Series and the Invested Amount thereof), and (iii) the daily average Aggregate Unpaid Balance of Receivables in the Trust with respect to the related Accrual Period. The share of the Servicing Fee allocable to the each Series 20[__]-[_] Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) date of payment generally shall be equal to one-twelfth of 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 one-twelfth, (ii) the product applicable Servicing Fee Percentage for such Series and (iii) the Invested Amount of the amount, if any, on deposit in the Special Funding Account such Series as of the last day date of determination for such payment as specified in the Monthly Period preceding such Distribution Date and the 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amountapplicable Supplement. The remainder of the Servicing Fee Fee, which shall be allocable to the Transferor as Holder of the Transferor Certificate, shall be paid by the Holders of Transferor from Collections allocated to the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) Transferor's Interest, and in no event shall the Trust, the Trustee Trustee, any Enhancement Provider or the Series 20[__]-[_] Investor Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders Transferor. Any Servicing Fees shall be payable to the Servicer solely pursuant to the terms of, and to the extent amounts are available for payment as provided in, Article IV and each Supplement. ---------- (b) In the event a Successor Servicer is appointed pursuant to Section ------- 10.02, the Servicing Fee Percentage with respect to each Series with respect to ----- such Successor Servicer shall be equal to the Servicing Fee Percentage with respect to such Series in effect immediately prior to the appointment of such Successor Servicer or, if higher, the current market rate for servicing receivables similar in nature to the Receivables; provided, however, that the -------- ------- servicing fees attributable to CompuCom as Servicer and to another Person as Successor Servicer may be bifurcated and distributed in the manner provided in the related Supplement. (c) The Servicer's expenses include expenses related to enforcement of the Transferor Certificates Receivables, the amounts due to the Trustee pursuant to Section 11.05, the ------------- reasonable fees and disbursements of independent accountants, the amounts due to the Lock-Box Banks and the Wire Transfer Receipt Account Banks, all other expenses incurred by the Servicer in connection with its activities hereunder, and all other fees and expenses of the Trust not expressly stated herein to be for the account of the Certificateholders; provided that in no event shall the -------- Servicer be liable for any federal, state or local income or franchise tax, or any interest or penalties with respect thereto, assessed on the Trust, the Trustee or the investor certificateholders of any other SeriesCertificateholders except as expressly provided herein. To In the extent event that the Class A Servicer fails to pay the amounts due to the Trustee pursuant to Section 11.05, the Trustee shall be entitled to deduct and receive such amounts ------------- from the Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant prior to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they payment thereof to the Servicer. The Servicer shall be paid by required to pay expenses for its own account and shall not be entitled to any payment or reimbursement therefor other than the Holders of the Transferor CertificatesServicing Fee.

Appears in 3 contracts

Sources: Pooling and Servicing Agreement (Safeguard Scientifics Inc Et Al), Pooling and Servicing Agreement (Compucom Systems Inc), Pooling and Servicing Agreement (Compucom Systems Inc)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2017-5 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2017-5 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2022-2 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2022-2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2017-4 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2017-4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2017-4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2017-3 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2017-3 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2024-2 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2024-2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2024-2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2025-2 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2025-2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2025-2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 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 20[__]-[_] 2000 Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the “Series 2000 Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Net Servicing Fee Rate and (b) (i) the Adjusted Series 2000 Invested Amount as of the last day of the Monthly Due Period second preceding such Distribution Date minus Date; provided, however, that (ii1) 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 Series 20[__]-[_] Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as first Distribution Date, the “Servicing Base Amount”). The share of the Series 2000 Monthly Servicing Fee allocable shall be equal to the Class A Certificateholders 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 any Distribution Date (each Due Period thereafter during which the “Class A Series 2000 Invested Amount is increased as a result of an issuance of a tranche of Notes, the Series 2000 Monthly Servicing Fee”) Fee shall be reduced to reflect the 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 the related Due Period in an amount equal to one-twelfth of the product of (a) the Class A Floating PercentageServicing Fee Rate, (b) the Servicing Fee Rate Sellers’ Participation Amount as of the 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 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 (after giving effect thereto) and the last day of the second preceding Due Period) and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in 2000 Allocation Percentage for the related Supplements) and in Due Period. In no event shall the Master Trust, the Trustee or the Series 20[__]-[_] 2000 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of Sellers. The Series 2000 Monthly Servicing Fee shall be payable to the Transferor Certificates or the investor certificateholders of any other Series. To Servicer solely to the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee amounts are not paid in full available for distribution pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.02(a)(ii).

Appears in 2 contracts

Sources: Pooling and Servicing Agreement (Citibank, N.A., as Depositor of Citibank Credit Card Issuance Trust), Amended and Restated Series 2000 Supplement

Servicing Compensation. The share of the Servicing Fee ---------------------- allocable to the Series 20[__]-[_] 1998-1 Certificateholders and the Class C Interest Holders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount 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 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"); provided, however, with -------- ------- respect to the first Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be equal 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 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 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 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, the Class B Servicing Fee shall be equal 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 with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.Class

Appears in 2 contracts

Sources: 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 20[__]-[_] Certificateholders 2005-CC with respect to any Distribution Date (shall be paid from Servicer Interchange and the Monthly Servicing Fee”) . The "Monthly Servicing Fee," with respect to any Distribution Date, shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Weighted Average Floating Allocation Invested Amount as of the last day of for 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 Series 20[__]-[_] Weighted Average Floating Allocation Percentage with respect to Invested Amount for such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date ") over (the “Class A Servicing Fee”y) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate Servicer Interchange Percentage and (c) the Servicing Base Amount. The 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 2005-CC 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders Holder of the Transferor Certificates Seller Certificate or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2005-CC Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders Holder of the Transferor Certificates Seller Certificate or the investor certificateholders Certificateholders of any other Series. To The Monthly Servicing Fee shall be payable to the Servicer solely to the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor CertificatesIndenture.

Appears in 2 contracts

Sources: Pooling and Servicing Agreement (National City Bank /), Pooling and Servicing Agreement (National City Credit Card Master Trust)

Servicing Compensation. The share of the Monthly Servicing Fee allocable to the Series 20[__]-[_] 1997-2 Certificateholders with respect to any Distribution Date (the "Investor Monthly Servicing Fee") shall be equal to one-twelfth (1/12th) of the product of (a) the Servicing Fee Rate Percentage and (b) (i) each of the Class A Adjusted Invested Investor Amount, the Class B Adjusted Investor Amount, the Collateral Indebtedness Amount and the Class D Investor Amount, respectively, as of the last day of the immediately preceding Monthly Period preceding such Distribution Date minus (ii) the product of the amountPeriod; provided, if anyhowever, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20[__]-[_] Allocation Percentage with respect to such the first Distribution Date, the Investor Monthly Period (the amount calculated pursuant Servicing Fee shall be equal to this clause (b) is referred to as the “Servicing Base Amount”)$313,734. The share of the Investor 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) one-twelfth ((1/12th) of the Class A Floating Percentage, Servicing Fee Percentage and (b) the Class A Adjusted Investor Amount; provided, however, that with respect to the first Distribution Date, the Class A Servicing Fee Rate and (c) the Servicing Base Amountshall be equal to $240,000. The share of the Investor 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 (a) (1/12th) of the Class B Floating Percentage, Servicing Fee Percentage and (b) the Class B Adjusted Investor Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee Rate and (c) the Servicing Base Amountshall be equal to $26,667. The share of the Investor Monthly Servicing Fee allocable to the Collateral Interest Indebtedness Holder with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to the product of (a) one-twelfth (1/12th) of the product of the (a) Collateral Floating Percentage, Servicing Fee Percentage and (b) the Collateral Indebtedness Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee Rate shall be equal to $28,000. The share of the Investor Monthly Servicing Fee allocable to the Class D Certificateholders with respect to any Distribution Date (the "Class D Servicing Fee") shall be equal to the product of (a) one-twelfth (1/12th) of the Servicing Fee Percentage and (cb) the Class D Investor Amount; provided, however, that with respect to the first Distribution Date, the Class D Servicing Base AmountFee shall be equal to $19,067. The Class A Servicing Fee, 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 this Series Supplement. The remainder of the Monthly Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of from amounts allocable to other Series (as provided in the related SupplementsAgreement and the Supplements relating to such other Series) or by the Transferor and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 1997-2 Certificateholders be liable for the share of the Monthly Servicing Fee to be paid from amounts allocable to any other Series or by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor CertificatesTransferor.

Appears in 2 contracts

Sources: Series Supplement to the Master Pooling and Servicing Agreement (Proffitts Credit Card Master Trust), Master Pooling and Servicing Agreement (Proffitts Credit Card Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2018-2 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2018-2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2018-2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2025-1 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2025-1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2025-1 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2018-5 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2018-5 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2023-4 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2023-4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2019-3 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2019-3 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2018-8 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2018-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 1998-1 Certificateholders with respect to any Distribution Date (the "Investor Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate Percentage and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period second preceding such Distribution Date minus (ii) the product of the amountCollection Period; provided, if anyhowever, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20[__]-[_] Allocation Percentage that with respect to such the first Distribution Date, the Investor Monthly Period (the amount calculated pursuant Servicing Fee shall be equal to this clause (b) is referred to as the “Servicing Base Amount”)$[_______]. The share of the Investor 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, Invested Amount as of the last day of the second preceding Collection Period and (b) the Servicing Fee Rate and (c) Percentage; provided, however, that with respect to the first Distribution Date, the Class A Servicing Base AmountFee shall be equal to $[_______]. The share of the Investor 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 (a) the Class B Floating Percentage, Invested Amount as of the last day of the second preceding Collection Period and (b) the Servicing Fee Rate and (c) Percentage; provided, however, that with respect to the first Distribution Date, the Class B Servicing Base AmountFee shall be equal to $[______]. The share of the Investor Monthly Servicing Fee allocable to the Collateral Interest CTO Securityholders with respect to any Distribution Date (the “Collateral "CTO Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, the CTO Invested Amount as of the last day of the second preceding Collection Period and (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.)

Appears in 2 contracts

Sources: Supplement to 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 20[__]-[_] 2000-3 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of 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 Series 20[__]-[_] 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"). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2000-3 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 the Series 20[__]-[_] 2019-1 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2019-1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2019-1 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2025-3 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2025-3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2025-3 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2018-1 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2018-1 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] Certificateholders 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 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 Series 20[__]-[_] 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 "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 (a1) the Class B Floating Percentage, (b2) the Net Servicing Fee Rate and (c3) 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 (1) the (a) Collateral Floating Percentage, (b2) the Net Servicing Fee Rate and (c3) 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 Holders Holder of the Transferor Certificates Seller Certificate or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee Trustee, the Series 2001-1 Certificateholders or the Series 20[__]-[_] Certificateholders Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holders Holder of the Transferor Certificates Seller Certificate or the investor certificateholders Certificateholders of any other Series. To the extent that the The (I) Class A Servicing FeeFee 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 not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor CertificatesSECTION 4.05(c)(i) or 4.07(f).

Appears in 2 contracts

Sources: 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 Monthly Servicing Fee allocable to the Series 20[__]-[_] Certificateholders with respect to any Distribution Date 2007-1 (the “Series 2007-1 Investor Monthly Servicing Fee”) with respect to any Due Period shall be equal to one-twelfth of the product of (i) the Series Servicing Fee Percentage and (ii) (a) the Servicing Fee Rate and (b) (i) the Adjusted 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 Series 20[__]-[_] Principal Allocation Percentage for such Due Period; provided, however, that with respect to the initial Due Period ending after the Closing Date, the Series 2007-1 Investor Monthly Servicing Fee shall be adjusted based on the ratio of the number of days in the initial Due Period to 30; provided, further, that if a Successor Servicer that is not an Affiliate of the Seller is appointed, the Series 2007-1 Investor Servicing Fee shall be such Monthly Period (amount as may be agreed upon in writing between such Successor Servicer and the amount calculated pursuant to this clause (b) is referred to Trustee, so long as the “Servicing Base Amount”)Trustee shall have received written confirmation from each of the Rating Agencies then rating any Class of Series 2007-1 Certificates that such change would not result in a reduction or withdrawal by such Rating Agency of its rating of any Class of the Series 2007-1 Certificates. The share of the Series 2007-1 Investor Monthly Servicing Fee allocable to the Class A Certificateholders Investor Interest with respect to any Distribution Date Due Period (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (ai) the Class A Floating PercentageAllocation, and (bii) the Series 2007-1 Investor Monthly Servicing Fee Rate and (c) the Servicing Base Amountfor such Due Period. The share of the Series 2007-1 Investor Monthly Servicing Fee allocable to the Class M Investor Interest with respect to any Due Period (the “Class M Servicing Fee”) shall be equal to the product of (i) the Class M Floating Allocation and (ii) the Series 2007-1 Investor Monthly Servicing Fee for such Due Period. The share of the Series 2007-1 Investor Monthly Servicing Fee allocable to the Class B Certificateholders Investor Interest with respect to any Distribution Date Due Period (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (ai) the Class B Floating Percentage, Allocation and (bii) the Series 2007-1 Investor Monthly Servicing Fee Rate and (c) the Servicing Base Amountfor such Due Period. The share of the Series 2007-1 Investor Monthly Servicing Fee allocable to the Collateral Class C Investor Interest with respect to any Distribution Date Due Period (the “Collateral Class C Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (bi) the Class C Floating Allocation and (ii) the Series 2007-1 Investor Monthly Servicing Fee Rate and (c) the Servicing Base Amountfor such Due Period. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders be liable for the share of the Series 2007-1 Investor Monthly Servicing Fee allocable to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant D-1 Investor Interest with respect to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.any Due Period (the

Appears in 2 contracts

Sources: Series Supplement (Alliance Data Systems Corp), Pooling and Servicing Agreement (Charming Shoppes Inc)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2022-4 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2022-4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2022-4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2018-4 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2018-4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2017-1 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2017-1 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2018-6 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2018-6 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2017-6 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2017-6 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2017-6 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2018-3 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2018-3 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2019-4 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2019-4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2018-9 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2018-9 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2018-9 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2021-1 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2021-1 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] Certificateholders 2000-1 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 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 Series 20[__]-[_] 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 $612,500.00. 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 $535,937.50. 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 (a1) the Class B Floating Percentage, (b2) the Net Servicing Fee Rate and (c3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $36,750.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the “Collateral Servicing Fee”"COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the (a) Collateral Floating Percentage, (b2) the Net Servicing Fee Rate and (c3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $39,812.50. 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 2000-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holders Holder of the Transferor Certificates Seller Certificate or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee Trustee, the Series 2000-1 Certificateholders or the Series 20[__]-[_] Certificateholders Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holders Holder of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.Seller

Appears in 2 contracts

Sources: 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 20[__]-[_] 2024-3 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2024-3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2024-3 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 Series 1998-1 with respect to any Transfer Date (the "Investor Servicing Fee") shall be equal to the sum of the Class A Servicing Fee, the Class B Servicing Fee and the Class C Servicing Fee with respect to such date. The share of the Servicing Fee allocable to the Series 20[__]-[_] Certificateholders Class A Ownership Interest with respect to any Distribution Transfer Date (the “Monthly "Class A Servicing Fee") shall be equal to one-twelfth of the product of (ai) the Class A Floating Allocation, (ii) the Net Servicing Fee Rate and (b) (iiii) the Adjusted Invested Amount Certificateholders Ownership Interests 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 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”)Transfer Date. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders B Ownership Interest with respect to any Distribution Transfer Date (the "Class A B Servicing Fee") shall be equal to one-twelfth of the product of (ai) the Class A B Floating PercentageAllocation, (bii) the Net Servicing Fee Rate and (ciii) the Servicing Base AmountCertificateholders Ownership Interests as of the last day of the Monthly Period preceding such Transfer Date. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders C Ownership Interest with respect to any Distribution Transfer Date (the "Class B C Servicing Fee") shall be equal to one-twelfth of the product of (ai) the Class B C Floating PercentageAllocation, (bii) the Net Servicing Fee Rate and (ciii) the Servicing Base Amount. The share Certificateholders Ownership Interests as of the last day of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating PercentagePeriod preceding such Transfer Date. Except as specifically provided above, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders cash flows from the Trust allocated to the Holder of the Transferor Certificates Certificate or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Seriestherefor. To the extent that the The Class A Servicing Fee, Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to subsections 4.09(a)(iii) and 4.11(a). The Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to subsections 4.09(b)(iii) and the Collateral 4.11(b). The Class C Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to subsections 4.09(c)(iii) and 4.11(e). For so long as AIC and AICCO are collectively the preceding provisions of this Section 3.01Servicer, AIC and Sections 4.05 and 4.07, they AICCO shall be paid by entitled to apportion the Holders of the Transferor CertificatesServicing Fee between themselves in such manner as they see fit.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2023-3 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2023-3 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2018-7 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2018-7 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 ▇▇▇▇-▇ ▇▇▇▇▇▇▇▇ 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 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 20[__]-[_] Certificateholders and (B) the denominator of which is the daily average Aggregate Invested Amount for such Settlement Period (with respect to any Distribution Date (such Series, the "Monthly Servicing Fee"). The Master Servicer (acting in such --------------------- capacity) shall be entitled to 10% of the Servicing Fee. Each Local Servicer shall be entitled to receive a percentage of the remaining Servicing Fee in an amount equal to one-twelfth the percentage obtained by dividing the aggregate Principal Amount of Eligible Receivables sold by such Local Servicer to the Contributor by the Aggregate Receivables Amount. The 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 payment under, Article III of the product Pooling Agreement. Any such fee which is payable to a Local Servicer belonging in the United Kingdom shall be inclusive of (a) United Kingdom value added tax and the Servicing Fee Rate and application of Section 89 of the United Kingdom Value Added Tax Act 1994 shall be excluded in relation to such fee. (b) (i) The Company hereby directs the Adjusted Invested Amount as of Master Servicer to pay amounts due to the last day of Liquidation Servicer, in the Monthly Period preceding such Distribution Date minus (ii) event it has been appointed a Successor Master Servicer, including the product of Liquidation Servicer's reasonable out- of-pocket expenses relating to the amountLiquidation Servicer's inspections, if any, on deposit in the Special Funding Account as of the last day Master Servicer's servicing facilities which inspections shall occur not more frequently than once per calendar year (or, following the commencement and continuation of an Early Amortization Period), such inspection shall occur at the discretion of the Monthly Period preceding such Distribution Date and the 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”)Liquidation Servicer. The share of Liquidation Servicer shall ensure that the Monthly Servicing Fee allocable Liquidation Servicer has (i) completed the Master Servicer Site Review and (ii) reviewed the Master Servicer's Standby Liquidation System and confirmed 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 Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable Trustee that such system is operating to the Class B Certificateholders with respect to any Distribution Date Liquidation Servicer's satisfaction within sixty (60) days following the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating PercentageEffective Date; provided, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentagehowever, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and that in no event shall the Master Servicer or the Liquidation -------- ------- Servicer, in the event it has been appointed a Successor Master Servicer, be liable for any Federal, state or local income or franchise tax, or any interest or penalties with respect thereto, assessed on the Trust, the Trustee or the Series 20[__]-[_] Investor Certificateholders or the Liquidation Servicer except in accordance with Section 5.02 and as otherwise ------------ expressly provided herein. Notwithstanding anything to the contrary herein or in any other Pooling and Servicing Agreements, in the event that the Master Servicer fails to pay any amount due to the Liquidation Servicer pursuant to Section 8.05 of the Pooling Agreement, or following the commencement and ------------ continuation (for a period greater than any applicable grace period) of an Early Amortization Period, the Liquidation Servicer shall be liable for entitled, in addition to any other rights it may have under law and under the share Pooling Agreement, to receive directly such amounts owing to it under the Pooling and Servicing Agreements from, and in the same order of priority as, the Servicing Fee before payment to the Master Servicer or Local Servicer of any portion thereof. The Master Servicer shall be paid required to pay expenses for its own account and shall not be entitled to any payment therefor other than the Servicing Fee. Nothing contained herein shall be construed to limit the obligation of the Master Servicer or the Company to pay any amounts due to the Liquidation Servicer pursuant to Section 8.05 of the Pooling Agreement. Other than as provided herein ------------ or in any other Transaction Document, the Trustee may not set-off or apply funds except as permitted by Article III of the Pooling Agreement or any Supplement thereto and the Trustee hereby agrees that it shall have no right of setoff or banker's lien against, and no right to otherwise deduct from, the Servicing Fee for any amount owed to it by the Holders of Master Servicer, in its capacities the Transferor Certificates Master Servicer or the investor certificateholders of any other Series. To the extent that the Class A Servicing Feeotherwise, the Class B Servicing Fee and 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 paid by the Holders of the Transferor CertificatesTransaction Documents.

Appears in 2 contracts

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2024-1 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2024-1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2024-1 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2025-4 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2025-4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2025-4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2022-3 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2022-3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2022-3 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 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 1997-1 Termination Date and the Series 20[__]-[_] Certificateholders with respect to any first Distribution Date (on which the “Monthly Servicing Fee”) shall be Invested Amount is zero. An amount equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Collection Period second preceding such Distribution Date minus (iithe "Monthly Servicing Fee") the product shall be --------------------- paid on behalf of the amountCertificateholders pursuant to Sections 4.06(a)(iii) and (vi); provided, if anyhowever, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20[__]-[_] Allocation Percentage that with respect to such the first Distribution Date, the -------- ------- Monthly Period (the amount calculated pursuant Servicing Fee shall be equal to this clause (b) is referred to as the “Servicing Base Amount”)$__________. The share A portion of the Monthly Servicing Fee allocable to (the Class A Certificateholders with respect to any "Net Servicing Fee") will be payable in the priority set ----------------- forth in Section 4.06(a) and, on each such Distribution Date (the “Class A Servicing Fee”) shall be an amount equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Net Servicing Fee Rate and (cb) the Servicing Base Amount. The share Invested Amount as of the Monthly Servicing Fee allocable to last day of the Class B Certificateholders Collection Period second preceding such Distribution Date; provided, however, that with respect to any the first -------- ------- Distribution Date (the “Class B Net Servicing Fee”) Fee shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount$__________. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder remaining portion of the Servicing Fee not allocable to the Certificates shall be paid by the Holder of the BCRC Certificate, the Holder(s) of any Supplemental Certificates(s), the Holder of the Variable Funding Certificate and the Holders of the Transferor Certificates or the investor certificateholders other outstanding Series of other Series (as provided in the related Supplements) Investor Certificates, and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders Holders of the Certificates be liable for the share of the any such remaining portion. The 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. 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 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 be paid by zero for all purposes of this Series Supplement and the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent Agreement; and provided further, that the Class A Servicing Fee, the Class B such Monthly Servicing Fee and 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 paid by on a future -------- ------- Distribution Date solely to the Holders of the Transferor Certificatesextent amounts are available therefor pursuant to Section 4.09(b) hereof.

Appears in 2 contracts

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2017-8 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2017-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2000-4 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of 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 Series 20[__]-[_] 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"). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2000-4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2019-2 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2019-2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2017-7 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2017-7 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2017-7 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] 2025-5 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2025-5 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2025-5 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Sources: 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 20[__]-[_] Certificateholders 2001-1 with respect to any Distribution Transfer Date (the “Monthly Servicing Fee”"INVESTOR SERVICING FEE") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Series Servicing Fee Percentage and (ii) the Adjusted Invested Amount Investor Interest as of the last day of the Monthly Period preceding such Distribution Transfer Date; provided that with respect to the first Transfer Date, the Investor Servicing Fee shall equal $104,167. The share of the Investor Servicing Fee allocable to the Class A Investor Interest with respect to any Transfer Date minus (the "CLASS A SERVICING FEE") shall equal one-twelfth of the product of (i) the Class A Floating Allocation, (ii) Series Servicing Fee Percentage and (iii) the product of the amount, if any, on deposit in the Special Funding Account Adjusted Investor Interest as of the last day of the Monthly Period preceding such Distribution Date and the Series 20[__]-[_] Allocation Percentage Transfer Date; provided that with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as first Transfer Date, the Class A Servicing Base Amount”)Fee shall equal $93,750. The share of the Monthly Investor Servicing Fee allocable to the Class A Certificateholders B Investor Interest with respect to any Distribution Transfer Date (the “Class A Servicing Fee”"CLASS B SERVICING FEE") shall be equal to one-twelfth of the product of (ai) the Class A B Floating PercentageAllocation, (bii) the Series Servicing Fee Rate Percentage and (ciii) 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 Base AmountFee shall equal $4,167. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Investor Servicing Fee allocable to the Collateral Interest 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 (i) the (a) Collateral Floating PercentageAllocation, (bii) the Series Servicing Fee Rate Percentage and (ciii) 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 Collateral Interest Servicing Base AmountFee shall equal $6,250. The remainder of Except as specifically provided above, the Servicing Fee shall be paid by the Holders of cash flows from the Trust allocated to the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders Investor Holders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Seriestherefor. To the extent that the The Class A Servicing Fee, Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to subsections 4.11(a)(iii) and 4.13(b). The Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to subsections 4.11(b)(iii) and the 4.13(d). The Collateral Interest Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificatessubsection 4.13(g) or if applicable subsection 4.11(c)(ii).

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Mellon Premium Finance Loan Owner Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 1997-1 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”"MONTHLY SERVICING FEE") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the sum of the Class A Adjusted Invested Amount and the Class B Invested Amount as of the last day of the Monthly Period second preceding such Distribution Date minus 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 Series 20[__]-[_] 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"); PROVIDED, HOWEVER, that with respect to the first Distribution Date, the Monthly Servicing Base Amount”)Fee shall be $560,224. 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 (a) the Class A Floating Percentage, Percentage and (b) the Monthly Servicing Fee; PROVIDED, HOWEVER, that with respect to the first Distribution Date the Class A Servicing Fee Rate and (c) the Servicing Base Amountshall be $428,571. 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 (a) the Class B Floating Percentage, Percentage and (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest Fee; PROVIDED, HOWEVER, that with respect to any the first Distribution Date (Date, the “Collateral Class B Servicing Fee”) Fee shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount$131,653. The remainder of the Servicing Fee shall be paid by from amounts allocable to the Holders Holder of the Transferor Certificates Certificate, holders of Participations or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 1997-1 Certificateholders be liable for the share of the Servicing Fee to be paid by from amounts allocable to the Holders Holder of the Transferor Certificates Certificate, holders of a Participation or the investor certificateholders Certificateholders of any other Series. To The Monthly Servicing Fee shall be payable to the Servicer solely to the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.6(a)(ii).

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Dayton Hudson Receivables Corp)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 1998-1 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”"MONTHLY SERVICING FEE") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the sum of the Class A Adjusted Invested Amount and the Class B Invested Amount as of the last day of the Monthly Period second preceding such Distribution Date minus 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 Series 20[__]-[_] 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"); PROVIDED, HOWEVER, that with respect to the first Distribution Date, the Monthly Servicing Base Amount”)Fee shall be $560,224. 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 (a) the Class A Floating Percentage, Percentage and (b) the Monthly Servicing Fee; PROVIDED, HOWEVER, that with respect to the first Distribution Date the Class A Servicing Fee Rate and (c) the Servicing Base Amountshall be $428,571. 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 (a) the Class B Floating Percentage, Percentage and (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest Fee; PROVIDED, HOWEVER, that with respect to any the first Distribution Date (Date, the “Collateral Class B Servicing Fee”) Fee shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount$131,653. The remainder of the Servicing Fee shall be paid by from amounts allocable to the Holders Holder of the Transferor Certificates Certificate, holders of Participations or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 1998-1 Certificateholders be liable for the share of the Servicing Fee to be paid by from amounts allocable to the Holders Holder of the Transferor Certificates Certificate, holders of a Participation or the investor certificateholders Certificateholders of any other Series. To The Monthly Servicing Fee shall be payable to the Servicer solely to the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.6(a)(ii).

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Dayton Hudson Receivables Corp)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2008-2 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.Base

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] Certificateholders with respect to any Distribution Date 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 product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount Series Allocation Percentage of the Pool Balance as of the last day of the Monthly second Collection Period preceding such Distribution Payment Date minus (ii) or with respect to the product of the amountfirst Payment Date, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the 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”Closing Date). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders Series 2000-VFN Holders with respect to any Distribution Payment Date (the “Class A "Noteholders' Monthly Servicing Fee") shall be equal to one-twelfth (1/12) of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (cb) the Invested Amount as of the last day of the Collection Period second preceding such Payment Date; provided, however, that with respect to the first Payment Date, the Noteholder' Monthly Servicing Base AmountFee shall be equal to $62,500. The remainder of the Monthly Servicing Fee shall be paid by the Certificateholder and in no event shall the Trust, the Owner Trustee, the Indenture Trustee or the Series 2000-VFN Holders 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 (Certificateholders; and the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of Certificateholders and the Transferor Certificates or the investor certificateholders Noteholders of other Series (as provided in and the related Supplements) and Series 2000-VFN Holders shall in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Certificateholders or the investor certificateholders Noteholders of any other Series. To The Noteholders' Monthly Servicing Fee shall be payable to the Servicer solely to the extent that amounts are available for distribution in accordance with the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions terms of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor CertificatesSeries Supplement.

Appears in 1 contract

Sources: Indenture (Wodfi LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2009-2 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2009-2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2008-4 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.Base

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2003-1 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of 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 Series 20[__]-[_] 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"). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2003-1 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] Certificateholders 1996-1 with respect to any Distribution Transfer Date (the “Monthly "Investor Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Series Servicing Fee Percentage and (ii) the Adjusted Invested Amount Investor Interest as of the last day of the Monthly Period preceding such Distribution Transfer Date; provided that with respect to the first Transfer Date, the Investor Servicing Fee shall equal $83,333.33. The share of the Investor Servicing Fee allocable to the Class A Investor Interest with respect to any Transfer Date minus (the "Class A Servicing Fee") shall equal one-twelfth of the product of (i) the Class A Floating Allocation, (ii) Series Servicing Fee Percentage and (iii) the product of the amount, if any, on deposit in the Special Funding Account Adjusted Investor Interest as of the last day of the Monthly Period preceding such Distribution Date and the Series 20[__]-[_] Allocation Percentage Transfer Date; provided that with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as first Transfer Date, the Class A Servicing Base Amount”)Fee shall equal $73,333.33. The share of the Monthly Investor Servicing Fee allocable to the Class A Certificateholders B Investor Interest with respect to any Distribution Transfer Date (the "Class A B Servicing Fee") shall be equal to one-twelfth of the product of (ai) the Class A B Floating PercentageAllocation, (bii) the Series Servicing Fee Percentage Rate and (ciii) 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 Base AmountFee shall equal $4,166.67. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Investor Servicing Fee allocable to the Collateral Interest with respect to any Distribution Transfer Date (the "Collateral Interest Servicing Fee") shall be equal to one-twelfth of the product of (i) the (a) Collateral Floating PercentageAllocation, (bii) the Series Servicing Fee Rate Percentage and (ciii) the Servicing Base Amount. The remainder 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 Collateral Interest Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificatesequal $5,833.

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2001-1 Certificateholders and the Collateral Interest Holder with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount 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 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”); provided, however, with respect to the first Distribution Date, the Monthly Servicing Fee (the “Initial Servicing Fee”) 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 (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”) 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 $101,562.50. 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 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, the Class B Servicing Fee shall be equal to $12,500.00. 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”) shall be equal to one-twelfth of the product of (c) the (a) Collateral 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 Collateral Servicing Fee shall be equal to $10,937.50. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates Seller or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee Trustee, the Series 2001-1 Certificateholders or the Series 20[__]-[_] Certificateholders Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Seller or the investor certificateholders Certificateholders of any other Series. To the extent that the The (i) Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.05(a)(ii), the 4.07(a) or 4.08(a); (ii) 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 the (iii) Collateral Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.05(c)(i) or 4.07(f).

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2017-2 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2017-2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.Base

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2007-8 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2007-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2007-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 1 contract

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

Servicing Compensation. As compensation for its servicing ---------------------- activities hereunder and reimbursement for its expenses as set forth in the immediately following paragraph, the Servicer shall be entitled to receive a monthly servicing fee in respect of any Collection Period (or portion thereof) prior to the termination of the Trust pursuant to Section 12.01 (the "Servicing Fee"), payable in arrears on each Distribution Date, equal to the ------------- sum of, with respect to each Series, one-twelfth of the product of (a) the applicable Servicing Fee Percentage with respect to each Series, and (b) the sum of (x) an allocable portion (based on the relative percentages of the Invested Amounts) of the Transferor Amount and the B/F Amount and (y) the aggregate invested Amount with respect to each Series on the last day of the second preceding Collection Period after giving effect to any payment of principal on the related Distribution Date for such Collection Period (or, in the case of the first Distribution Date, the Initial Invested Amount). The share of the Servicing Fee allocable to the each Series 20[__]-[_] Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (aA) the related Servicing Fee Rate Percentage and (b) (iB) the Adjusted Invested Amount as of such Series on the last day of the Monthly second preceding Collection Period preceding such after giving effect to any payment of principal on the related Distribution Date minus for such Collection Period (ii) or, in the product case of the amountfirst Distribution Date, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20[__]-[_] Allocation Percentage with respect to such Monthly Period Initial Invested Amount) (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (such Series, the “Class A "Monthly ------- Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount"). The remainder of the Servicing Fee shall be paid by the ------------- Holder of the Exchangeable Transferor Certificate and by Bridgestone/ Firestone as holder of the Bridgestone/Firestone Certificate. Any such amount not paid by the Holders of the Exchangeable Transferor Certificates or Certificate and the investor certificateholders Bridgestone/ Firestone Certificate may be withheld by the Servicer from other amounts payable to the Holders of other Series (as provided in the related Supplements) Exchangeable Transferor Certificate and in the Bridgestone/Firestone Certificate under this Agreement. In no event shall the Trust, the Trustee or the Series 20[__]-[_] Investor Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Exchangeable Transferor Certificates Certificate and the Bridgestone/Firestone Certificate. Any Monthly Servicing Fees shall be payable to the Servicer solely pursuant to the terms of, and to the extent amounts are available for payment under, Article IV. The Servicer's expenses include the amounts due to the Trustee pursuant to Section 11.05 and the reasonable fees and disbursements of independent accountants and all other expenses incurred by the Servicer in connection with its activities hereunder, and including all other fees and expenses of the Trust not expressly stated herein to be for the account of the Certificateholders; provided that in no event shall the Servicer be liable -------- for any Federal, state or local income or franchise tax, or any interest or penalties with respect thereto, assessed on the Trust, the Trustee or the investor certificateholders of any other SeriesCertificateholders except as expressly provided herein. To So long as Bridgestone/Firestone is acting as Servicer hereunder, in the extent event that the Class A Servicer fails to pay the amounts due to the Trustee pursuant to Section 11.05, the Trustee shall be entitled to receive such amounts from the Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant prior to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they payment thereof to the Servicer. The Servicer shall be paid by required to pay expenses for its own account and shall not be entitled to any payment therefor other than the Holders of the Transferor CertificatesServicing Fee.

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Firestone Retail Credit Corp)

Servicing Compensation. The share of the Servicing Fee ---------------------- allocable to the Series 20[__]-[_] 1999-2 Certificateholders and the Collateral Interest Holder with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount 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 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"); provided, however, with -------- ------- respect to the first Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be equal 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 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 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 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, the Class B Servicing Fee shall be equal 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 Fee") shall be equal to one-one- twelfth of the product of (c) the (a) Collateral 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 Collateral Servicing Fee shall be equal to the product of the 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 Holders of the Transferor Certificates Seller or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee Trustee, the Series 1999-2 Certificateholders or the Series 20[__]-[_] Certificateholders Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Seller or the investor certificateholders Certificateholders of any other Series. To the extent that the The (i) Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 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 not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.05(c)(i) or 4.07(f).

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2007-5 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2007-5 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2007-5 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2002-2 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of 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 Series 20[__]-[_] 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"). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2002-2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2006-1 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of 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 Series 20[__]-[_] 2006-1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2006-1 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] Certificateholders 1999-D Holders with respect to any Distribution Date (the "Monthly Servicing Fee”) "), shall be equal to one-twelfth of the product of (ai) the Servicing Fee Rate and (b) (iii) the Adjusted Invested Amount 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 Series 20[__]-[_] Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (bii) is referred to as the "Servicing Base Amount"); provided, however, with respect to the September 1999 Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be $375,000. 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 Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the December 1999 Distribution Date, the Class A Servicing Fee shall be $305,625. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the December 1999 Distribution Date, the Class B Servicing Fee shall be $28,125. 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 the (a) the Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of ; provided, however, that with respect to the December 1999 Distribution Date, the Collateral Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in $41,250. In no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.the

Appears in 1 contract

Sources: Series 1999 D Supplement (Fleet Bank National Association /Ri/)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] Certificateholders 1999-C Holders with respect to any Distribution Date (the "Monthly Servicing Fee”) "), shall be equal to one-twelfth of the product of (ai) the Servicing Fee Rate and (b) (iii) the Adjusted Invested Amount 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 Series 20[__]-[_] Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (bii) is referred to as the "Servicing Base Amount"); provided, however, with respect to the September 1999 Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be $187,500. 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 Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the December 1999 Distribution Date, the Class A Servicing Fee shall be $157,969. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the December 1999 Distribution Date, the Class B Servicing Fee shall be $12,656. 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 the (a) the Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of ; provided, however, that with respect to the December 1999 Distribution Date, the Collateral Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in $16,875. In no event shall the Trust, the Trustee Trustee, or the Series 20[__]-[_] Certificateholders 1999-C Holders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Seller Certificates or the investor certificateholders Certificateholders of any other Series. To the extent that the The Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.5(a)(ii), 4.7(a) or 4.8(a); the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.5(b)(ii), 4.7(c) or 4.8(b); and the Collateral Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.5(c)(i) or 4.7(g).

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2022-1 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2022-1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2022-1 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 1 contract

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

Servicing Compensation. The share of the Investor Monthly Servicing Fee with respect to Series E allocable to the Series 20[__]-[_] Certificateholders Class A Investor Interest with respect to any Distribution Transfer Date (the “Monthly "Class A Servicing Fee") shall be equal to one-twelfth of the product of (ai) the Class A Floating Allocation, (ii) the Servicing Fee Rate Percentage and (b) (iiii) the Adjusted Invested Amount Investor Interest as of the last first day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amountTransfer Date; provided, if anyhowever, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20[__]-[_] Allocation Percentage that with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as first Transfer Date, the Class A Servicing Base Amount”)Fee shall be $___________. The share of the Investor Monthly Servicing Fee with respect to Series E allocable to the Class A Certificateholders B Investor Interest with respect to any Distribution Transfer Date (the "Class A B Servicing Fee") shall be equal to one-twelfth of the product of (ai) the Class A B Floating PercentageAllocation, (bii) the Servicing Fee Rate Percentage and (ciii) the Adjusted Investor Interest as of the first day of the Monthly Period preceding such Transfer Date; provided, however, that with respect to the first Transfer Date, the Class B Servicing Base AmountFee shall be $___________. The share of the Investor Monthly Servicing Fee with respect to Series E allocable to the Class B Certificateholders C Investor Interest with respect to any Distribution Transfer Date (the "Class B C Servicing Fee") shall be equal to one-twelfth of the product of (ai) the Class B C Floating PercentageAllocation, (bii) the Servicing Fee Rate Percentage and (ciii) the Servicing Base Amount. The share Adjusted Investor Interest as of the first day of the Monthly Servicing Fee allocable to the Collateral Interest Period preceding such Transfer Date; provided, however, that with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of first Transfer Date, the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Class C Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[$_] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series_________. To the extent that the The Class A Servicing Fee, Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to subsections 4.16(a)(ii) and 4.18(a) hereof. The Class B Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to subsection 4.18(e) or, if applicable, subsections 4.16(b)(ii) and the Collateral 4.18(c) hereof. The Class C Servicing Fee shall be payable to the Servicer solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01subsection 4.18(g) or, and Sections 4.05 and 4.07if applicable, they shall be paid by the Holders of the Transferor Certificatessubsection 4.16(c)(i) hereof.

Appears in 1 contract

Sources: Series E Supplement (JCP Receivables Inc)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2007-4 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2007-4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2014-4 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2014-4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_201[ ]-[ ] Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.Base

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2000-1 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of 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 Excess Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20[__]-[_] 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"); provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $[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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) which is the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Invested Amount. The remainder of the Servicing Fee shall be paid by the Holders Holder of the Transferor Certificates Seller Certificate or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) ), and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2000-1 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders Holder of the Transferor Certificates Seller Certificate or the investor certificateholders Certificateholders of any other Series. To The Monthly Servicing Fee shall be payable to the Servicer solely to the extent that amounts are available for distribution in respect thereof pursuant to Sections 4.2(b)(i)(x), 4.2(b)(ii)(x), 4.6(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 and the Collateral Servicing Fee are not paid in full pursuant third to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor CertificatesClass C Servicing Fee.

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] Certificateholders ___-_ Holders with respect to any Distribution Date (the "Monthly Servicing Fee”) "), shall be equal to one-twelfth of the product of (ai) the Servicing Fee Rate and (b) (iii) the Adjusted Invested Amount 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 Series 20[__]-[_] Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (bii) is referred to as the "Servicing Base Amount"); provided, however, with respect to the ____________ ____ Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be $___________. 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 Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the ____________ ____ Distribution Date, the Class A Servicing Fee shall be $________. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the _____________ ____ Distribution Date, the Class B Servicing Fee shall be $______. 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 the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates."),

Appears in 1 contract

Sources: Series Supplement (Fleet Credit Card Master Trust Ii)

Servicing Compensation. The share of the Monthly Servicing Fee allocable to Series 1999-1 (the "Series 20[__]-[_] Certificateholders 1999-1 Investor Monthly Servicing Fee") with respect to any Distribution Date (the “Monthly Servicing Fee”) Due Period shall be equal to one-twelfth of the product of (i) the Series Servicing Fee Percentage and (ii) (a) the Servicing Fee Rate and (b) (i) the Adjusted 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 Series 20[__]-[_] 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"); provided, however, that with respect to the first Due Period ending after the Closing Date, the Series 1999- 18 22 1 Investor Monthly Servicing Fee shall be equal to $_________. The share of the Series 1999-1 Investor Monthly Servicing Fee allocable to the Class A Certificateholders Investor Interest with respect to any Distribution Date Due Period (the "Class A Servicing 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 Servicing Fee Rate and (ciii) the Servicing Base AmountAmount for such Due Period; provided, however, that with respect to the first Due Period ending after the Closing Date, the Class A Servicing Fee shall be equal to $_________. The share of the Series 1999-1 Investor Monthly Servicing Fee allocable to the Class B Certificateholders Investor Interest with respect to any Distribution Date Due Period (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (ai) the Class B Floating PercentageAllocation, (bii) the Series Servicing Fee Rate Percentage and (ciii) the Servicing Base AmountAmount for such Due Period; provided, however, that with respect to the first Due Period ending after the Closing Date, the Class B Servicing Fee shall be equal to $__________. The share of the Series 1999-1 Investor Monthly Servicing Fee allocable to the Collateral Class C Investor Interest with respect to any Distribution Date Due Period (the “Collateral "Class C Servicing Fee") shall be equal to one-twelfth of the product of (i) the (a) Collateral Class C Floating PercentageAllocation, (bii) the Series Servicing Fee Rate Percentage and (ciii) the Servicing Base AmountAmount for such Due Period; provided, however, that with respect to the first Due Period ending after the Closing Date, the Class C Servicing Fee shall be equal to $__________. The remainder share of the Series 1999-1 Investor Monthly Servicing Fee allocable to the Class D Investor Interest with respect to any Due Period (the "Class D Servicing Fee") shall be equal to one-twelfth of the product of (i) the Class D 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 Servicing Fee shall be equal to $___________. Except as specifically provided above, the Monthly Servicing Fee shall be paid by the Holders of cash flows from the Transferor Certificates Trust allocated to the Seller or the investor certificateholders Certificateholders of other Series (as provided in the related SupplementsSupplements or Receivables Purchase Agreements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Investor Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Seriestherefor. To the extent that the The Class A Servicing Fee, Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to subsections 4.9(a)(ii) and 4.11(a). The Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to subsections 4.9(b)(ii) and the Collateral 4.11(c). The Class C Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, subsections 4.9(c)(i) and Sections 4.05 and 4.07, they 4.11(e). The Class D Servicing Fee shall be paid by payable solely to the Holders of the Transferor Certificatesextent amounts are available for distribution in respect thereof pursuant to subsections 4.9(d)(i) and 4.11(k).

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Charming Shoppes Receivables Corp)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] Certificateholders 200_-_ Holders with respect to any Distribution Date (the "Monthly Servicing Fee”) "), shall be equal to one-twelfth of the product of (ai) the Servicing Fee Rate and (b) (iii) the Adjusted Invested Amount 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 Series 20[__]-[_] Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (bii) is referred to as the "Servicing Base Amount"); provided, however, with respect to the December 2001 Distribution Date, the Monthly Servicing Fee shall be $__________. 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 Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the December 2001 Distribution Date, the Class A Servicing Fee shall be $__________. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the December 2001 Distribution Date, the Class B Servicing Fee shall be $________. 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 the (a) the Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of ; provided, however, that with respect to the December 2001 Distribution Date, the Collateral Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in $__________. In no event shall the Trust, the Trustee Trustee, or the Series 20[__]-[_] Certificateholders 200_-_ Holders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders Certificateholders of any other Series. To the extent that the The Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.5(a)(ii), 4.7(a) or 4.8(a); the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.5(b)(ii), 4.7(c) or 4.8(b); and the Collateral Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.5(c)(i) or 4.7(g).

Appears in 1 contract

Sources: Series Supplement (Fleet Credit Card Master Trust Ii)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] Certificateholders 1998-1 Holders with respect to any Distribution Date (the "Monthly Servicing Fee”) "), shall be equal to one-twelfth of the product of (ai) the Servicing Fee Rate and (b) (iii) the Adjusted Invested Amount 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 Series 20[__]-[_] Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (bii) is referred to as the "Servicing Base Amount"); provided, however, with respect to the April 1998 Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be $347,222. 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 Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the April 15, 1998 Distribution Date, the Class A Servicing Fee shall be $315,972. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the April 15, 1998 Distribution Date, the Class B Servicing Fee shall be $17,361. The share of the Monthly Servicing Fee allocable to the Collateral Class C Interest Holder with respect to any Distribution Date (the “Collateral "Class C Servicing Fee”) "), shall be equal to one-twelfth of the product of the (a) Collateral the Class C Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the April 15, 1998 Distribution Date, the Class C Servicing Fee shall be $13,889. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders 1998-1 Holders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders Certificateholders of any other Series. To the extent that the The Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to subsection 4.5(a)(ii), 4.7(a) or 4.8(a); the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to subsection 4.5(b)(ii), 4.7(c) or 4.8(b); and the Collateral Class C Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificatessubsection 4.5(c)(i) or 4.7(g).

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2010-1 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2010-1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2010-1 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2008-8 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2008-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.Base

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2005-4 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of 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 Series 20[__]-[_] 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"). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2005-4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Sources: 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 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 20[__]-[_] 2000 Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Series 2000 Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Net Servicing Fee Rate and (b) (i) the Adjusted Series 2000 Invested Amount as of the last day of the Monthly Due Period second preceding such Distribution Date minus (ii) the product of the amountDate; provided, if anyhowever, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20[__]-[_] Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as first Distribution Date, the “Servicing Base Amount”). The share of the Series 2000 Monthly Servicing Fee allocable shall be equal to the Class A Certificateholders 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. On each Distribution Date, the Sellers shall pay a portion of the Servicing Fee with respect to any Distribution Date (the “Class A Servicing Fee”) shall be related Due Period in an amount equal to one-twelfth of the product of (a) the Class A Floating PercentageServicing Fee Rate, (b) the Servicing Fee Rate Sellers' Participation Amount as of the 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 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 (after giving effect thereto) and the last day of the second preceding Due Period) and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in 2000 Allocation Percentage for the related Supplements) and in Due Period. In no event shall the Master Trust, the Trustee or the Series 20[__]-[_] 2000 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of Sellers. The Series 2000 Monthly Servicing Fee shall be payable to the Transferor Certificates or the investor certificateholders of any other Series. To Servicer solely to the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee amounts are not paid in full available for distribution pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.02(a)(i).

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Citibank Credit Card Master Trust I)

Servicing Compensation. The share of the Servicing Fee ---------------------- allocable to the Series 20[__]-[_] 199_-_ Certificateholders and the Class C Interest Holders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount 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 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"); provided, however, with -------- ------- respect to the first Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be equal 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 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 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 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, the Class B Servicing Fee shall be equal 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 with respect to any Distribution Date Class (the “Collateral Servicing Fee”i) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Class A Servicing Fee shall be paid by payable to the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders be liable for the share of the Servicing Fee Servicer solely to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Feeamounts are available for distribution in respect thereof pursuant to Section 4.05(a)(ii), 4.07(a), 4.08(a) or 4.12(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), 4.08(b) or 4.12(c); and (iii) the Collateral Class C Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.014.05(c)(i), and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.07(f) or 4.12(c).

Appears in 1 contract

Sources: Pooling and Servicing Agreement Supplement (Capital One Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2001-6 Certificateholders and the Collateral Interest Holder with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount 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 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"); provided, however, with respect to the first Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be equal to $1,372,222.22. 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 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 $696,831.60. 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, the Class B Servicing Fee shall be equal to $85,763.89. 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") shall be equal to one-twelfth of the product of (c) the (a) Collateral 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 Collateral Servicing Fee shall be equal to $75,043.40. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates Sellers or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee Trustee, the Series 2001-6 Certificateholders or the Series 20[__]-[_] Certificateholders Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Sellers or the investor certificateholders Certificateholders of any other Series. To the extent that the The (i) Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.05(a)(ii), the 4.07(a) or 4.08(a); (ii) 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)(iii), 4.07(c) or 4.08(b); and the (iii) Collateral Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.05(c)(i) or 4.07(f).

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2004-3 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of 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 Series 20[__]-[_] 2004-3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2004-3 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 1998-1 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of 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 (i) the actual number of days from and including the Closing Date to and including June 30, 1998, divided by 365, (ii) the Servicing Fee Rate and (iii) 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 Series 20[__]-[_] 1998-1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 1998-1 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2001-2 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of 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 Series 20[__]-[_] 2001-2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2001-2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee ---------------------- allocable to the Series 20[__]-[199__-_] _ Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (ib)(i) the Adjusted 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 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 Series 20[__]-[_] 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"); provided, however, that with respect to the first Distribution Date, -------- ------- the Monthly Servicing Fee shall be equal to $[__________]. [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 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 $[__________]. 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 13 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 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 Floating Percentage, 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 equal to [__________].] The remainder of the Servicing Fee shall be paid by the Holders Holder of the Transferor Certificates Depositor Certificate or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee Trustee, the Series 199__-__ Certificateholders or the Series 20[__]-[_Cash Collateral Depositor] Certificateholders [Credit Enhancement Provider] be liable for the share of the Servicing Fee to be paid by the Holders Holder of the Transferor Certificates Depositor Certificate or the investor certificateholders Certificateholders of any other Series. To the extent that the The (i) Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.05(a)(ii), 4.07(a), 4.08(a) or 4.12(c)]; 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) (ii), 4.07(d) for 4.12(e) [and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are not paid in full available for distribution with respect thereto pursuant to the preceding provisions of this Section 3.014.05[(b-1)(i)], and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.05(b)(ii) [or 4.07(h-2)].

Appears in 1 contract

Sources: Pooling and Servicing Agreement Supplement (Asset Backed Securities Corp)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[2000-_] 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 Series 20[__]-[_] 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 $_______. 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 $_______. 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 (a1) the Class B Floating Percentage, (b2) the Net Servicing Fee Rate and (c3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $______. 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 (1) the (a) Collateral Floating Percentage, (b2) the Net Servicing Fee Rate and (c3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $_______. 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 2000-__ share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holders Holder of the Transferor Certificates Seller Certificate or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee Trustee, the Series 2000-__ Certificateholders or the Series 20[__]-[_] Certificateholders Cash Collateral Depositor be liable for the share of the Servicing Fee to be paid by the Holders Holder of the Transferor Certificates Seller Certificate or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.the

Appears in 1 contract

Sources: Series Supplement (National City Credit Card Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2004-2 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of 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 Series 20[__]-[_] 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"). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2004-2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2008-3 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 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”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.Base

Appears in 1 contract

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

Servicing Compensation. The share (a) Notwithstanding anything to the contrary in Section 2.05 of the Servicing Agreement, (a) the Servicing Rate Portion with regard to the 1996-B SUBI Portfolio shall be calculated and (unless waived in accordance with Section 9.06(b) hereof) paid on each Distribution Date based upon the Aggregate Net Investment Value as of the first day of the related Collection Period (or, in the case of the first Distribution Date, as of the Initial Cutoff Date), rather than based upon the allocable portion of the Pool Balance, (b) the portion of the Servicing Fee allocable to the Series 20[__]-[_] Certificateholders 1996-B SUBI Portfolio shall be paid out of cash flows arising from the 1996-B SUBI Portfolio as and to the extent set forth in Section 12.01(c) of the 1996-B SUBI Supplement and the definition of the term "Collections" set forth in Section 10.01 thereof, (c) no Extension Fee with respect to any Distribution Date (a Lease included in the “Monthly 1996-B SUBI Portfolio shall constitute part of the Servicing Fee, and (d) the Servicer may be reimbursed for advancing certain Administrative Expenses as provided in Section 9.05(a). Further, as additional servicing compensation with regard to the 1996-B SUBI Portfolio, the Servicer also shall be equal receive income on investment of funds in the Reserve Fund if and to one-twelfth the extent that the balance therein is greater than the Reserve Fund Cash Requirement (and so long as the ERISA Compliance Test is satisfied) as and to the extent provided in Section 3.04(b) of the product of (a) the Servicing Fee Rate and Securitization Trust Agreement. (b) So long as World Omni Financial Corp. is the Servicer, the Servicer may, by notice to the Origination Trustee and the Securitization Trustee on or prior to any Determination Date, waive its Servicing Fee with respect to the related Collection Period, so long as the Servicer believes that sufficient collections will be available from Interest Collections on one or more future Distribution Dates (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, other than from amounts on deposit in the Special Funding Account as of Reserve Fund) to pay such waived Servicing Fee, without interest. If the last day of Servicer so waives such Servicing Fee, the Monthly Period preceding such Distribution Date and the Series 20[__]-[_] Allocation Percentage Servicing Fee with respect to such Monthly Collection Period (the amount calculated pursuant shall be deemed to this be zero for all purposes, provided, however, that for purposes of clause (bc) is referred to as the “Servicing Base Amount”). The share of the Monthly definition of "Interest Collections" in the 1996-B SUBI Supplement and Section 3.03 of the Securitization Trust Agreement, any such waived Servicing Fee allocable to the Class A Certificateholders thereafter shall be treated as an unpaid Servicing Fee with respect to any Distribution Date a prior Collection Period (unless the “Class A Servicer continues to waive such Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates).

Appears in 1 contract

Sources: Servicing Agreement (World Omni 1996-B Automobile Lease Securitization Trust)

Servicing Compensation. 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 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 (or with respect to the first Distribution Date, as of the Series Cut-Off Date). The share of the Servicing Fee allocable to the Series 20[__]-[_] 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) (i) the Adjusted Invested Amount as of the last day of the Monthly Collection Period second preceding such Distribution Date minus (ii) the product of the amountDate; provided, if anyhowever, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20[__]-[_] Allocation Percentage that with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as first Distribution Date, the “Servicing Base Amount”). The share of the Certificateholders 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount$[ ]. The remainder of the Monthly Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) Seller and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 1996-1 Certificateholders be liable for the share of the Monthly Servicing Fee to be paid by the Seller; and the remainder of the Servicing Fee shall be paid by the Seller and the Investor Certificateholders of other Series and the Series 1996-1 Certificateholders shall in no event be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Seller or the investor certificateholders Investor Certificateholders of any other Series. To The 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. The Servicer will be permitted, in its sole discretion, to waive the Monthly Servicing Fee for any Distribution Date by notice to the Trustee on or before the related Determination Date; provided that the Class A 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 Class B Servicer so waives the Monthly Servicing Fee and 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 paid by the Holders of the Transferor Certificates.for any

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] Certificateholders 2002-A Holders with respect to any Distribution Date (the "Monthly Servicing Fee”) "), shall be equal to one-twelfth of the product of (ai) the Servicing Fee Rate and (b) (iii) the Adjusted Invested Amount 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 Series 20[__]-[_] Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (bii) is referred to as the "Servicing Base Amount"); provided, however, with respect to the July 2002 Distribution Date, the Monthly Servicing Fee shall be $2,720,000. 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 Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the July 2002 Distribution Date, the Class A Servicing Fee shall be $2,244,000. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the July 2002 Distribution Date, the Class B Servicing Fee shall be $190,400. 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 the (a) the Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of ; provided, however, that with respect to the July 2002 Distribution Date, the Collateral Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in $285,600. In no event shall the Trust, the Trustee Trustee, or the Series 20[__]-[_] Certificateholders 2002-A Holders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders Certificateholders of any other Series. To the extent that the The Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.5(a)(ii), 4.7(a) or 4.8(a); the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.5(b)(ii), 4.7(c) or 4.8(b); and the Collateral Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.5(c)(i) or 4.7(g).

Appears in 1 contract

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

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 1997-1 Termination Date and the Series 20[__]-[_] Certificateholders with respect to any first Distribution Date (on which the “Monthly Servicing Fee”) shall be Invested Amount is zero. An amount equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Collection Period second preceding such Distribution Date minus (iithe "Monthly Servicing Fee") the product shall be paid on behalf of the amountCertificateholders pursuant to Sections 4.06(a)(iii) and (vi); provided, if anyhowever, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20[__]-[_] Allocation Percentage that with respect to such the first Distribution Date, the Monthly Period (the amount calculated pursuant Servicing Fee shall be equal to this clause (b) is referred to as the “Servicing Base Amount”)$213,562.50. The share A portion of the Monthly Servicing Fee allocable to (the Class A Certificateholders with respect to any "Net Servicing Fee") will be payable in the priority set forth in Section 4.06(a) and, on each such Distribution Date (the “Class A Servicing Fee”) shall be an amount equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Net Servicing Fee Rate and (cb) the Servicing Base Amount. The share Invested Amount as of the Monthly Servicing Fee allocable to last day of the Class B Certificateholders Collection Period second preceding such Distribution Date; provided, however, that with respect to any the first Distribution Date (the “Class B Net Servicing Fee”) Fee shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount$106,781.25. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder remaining portion of the Servicing Fee not allocable to the Certificates shall be paid by the Holder of the BCRC Certificate, the Holder(s) of any Supplemental Certificates(s), the Holder of the Variable Funding Certificate and the Holders of the Transferor Certificates or the investor certificateholders other outstanding Series of other Series (as provided in the related Supplements) Investor Certificates, and in no event shall the Trust, the Trustee or the Series 20[__]-[_] Certificateholders Holders of the Certificates be liable for the share of the any such remaining portion. The Monthly Servicing Fee shall be payable to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To Servicer solely to the extent amounts are available for distribution in 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 Class A Servicing Fee, the Class B Servicing Fee and 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 Servicer believes that sufficient Non-Principal Collections will be paid by the Holders of the Transferor Certificates.available on any future Distribution Date to

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Bombardier Credit Receivables Corp)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] Certificateholders 2002-1 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 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 Series 20[__]-[_] 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 "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 (a1) the Class B Floating Percentage, (b2) the Net Servicing Fee Rate and (c3) 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 (1) the (a) Collateral Floating Percentage, (b2) the Net Servicing Fee Rate and (c3) 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 2002-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holders Holder of the Transferor Certificates Seller Certificate or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee Trustee, the Series 2002-1 Certificateholders or the Series 20[__]-[_] Certificateholders Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holders Holder of the Transferor Certificates Seller Certificate or the investor certificateholders Certificateholders of any other Series. To the extent that the The (I) Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 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 not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor CertificatesSECTION 4.05(c)(i) or 4.07(f).

Appears in 1 contract

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

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] Certificateholders 2001-C Holders with respect to any Distribution Date (the "Monthly Servicing Fee”) "), shall be equal to one-twelfth of the product of (ai) the Servicing Fee Rate and (b) (iii) the Adjusted Invested Amount 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 Series 20[__]-[_] Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (bii) is referred to as the "Servicing Base Amount"); provided, however, with respect to the December 2001 Distribution Date, the Monthly Servicing Fee shall be $1,055,556. 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 Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the December 2001 Distribution Date, the Class A Servicing Fee shall be $902,500. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the December 2001 Distribution Date, the Class B Servicing Fee shall be $63,333. 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 the (a) the Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of ; provided, however, that with respect to the December 2001 Distribution Date, the Collateral Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in $89,722. In no event shall the Trust, the Trustee Trustee, or the Series 20[__]-[_] Certificateholders 2001-C Holders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Seller Certificates or the investor certificateholders Certificateholders of any other Series. To the extent that the The Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.5(a)(ii), 4.7(a) or 4.8(a); the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.5(b)(ii), 4.7(c) or 4.8(b); and the Collateral Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.5(c)(i) or 4.7(g).

Appears in 1 contract

Sources: Series 2001 C Supplement (Fleet Credit Card Master Trust Ii)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20[__]-[_] 2023-2 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of 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 Series 20[__]-[_] 2023-2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). 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 Servicing Fee Rate and (c) the Servicing Base Amount. 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 (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20[__]-[_] 2023-2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and 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 paid by the Holders of the Transferor Certificates.

Appears in 1 contract

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