Examples of Backup Servicer Expenses in a sentence
Distributions of Backup Servicer Expenses shall be made in accordance with Section 5.13.
The Backup Servicer shall further receive all reimbursable Backup Servicer Expenses in accordance with the terms of the Sale and Servicing Agreement and the Indenture.
On each Payment Date to the extent that any Backup Servicer Expenses are then due and payable, the Servicer will instruct the Indenture Trustee in writing to withdraw an amount equal to such Backup Servicer Expenses then due and payable, and distribute such amount to the Person entitled thereto.
To the extent that any Backup Servicer Expenses exceed the amount on deposit in the Backup Servicer Account (any such shortfall, a “Backup Servicer Account Shortfall Amount”), the Servicer (so long as the Servicer is NH Credit) agrees, within thirty days of demand thereof, to deliver to the Indenture Trustee for deposit in the Backup Servicer Account, such Backup Servicer Account Shortfall Amount.
If amounts in the Backup Servicer Account are insufficient to fully reimburse the Backup Servicer in respect of Backup Servicer Expenses, the Backup Servicer shall be reimbursed pursuant to Section 5.6(b)(xi).