Backup Servicing Fee definition
Backup Servicing Fee means the fee payable to the Backup Servicer on each Payment Date in accordance with Section 2.12(c), which fee shall be equal to the greater of (i) $5,000, and (ii) the product of (a) the Backup Servicing Fee Rate, (b) the Eligible Pool Balance, as of the first day of the related Collection Period and (c) 1/12.
Backup Servicing Fee means, as to each Distribution Date, $4,000; provided, however, that if the Backup Servicer becomes the successor Servicer, such fee shall no longer be paid.
Backup Servicing Fee. Defined in the Backup Servicer Fee Letter.
Examples of Backup Servicing Fee in a sentence
As compensation for the performance of its obligations under this Agreement and with respect to the Sale and Servicing Agreement, the Backup Servicer is entitled to: (i) prior to the Assumption Date, the Backup Servicing Fee and (ii) after the Assumption Date, the sum of: (A) the Servicing Fee, (B) the Servicer Expenses, (C) any Repossession Expenses and (D) any Transition Expenses.
More Definitions of Backup Servicing Fee
Backup Servicing Fee. The fee payable by the Borrower to the Backup Servicer pursuant to the Backup Servicing Agreement and Section 7.3 hereof.
Backup Servicing Fee shall have the meaning attributed to such term in the Backup Servicing Agreement.
Backup Servicing Fee means the fees payable to the Backup Servicer as set forth in the Backup Servicing Agreement.
Backup Servicing Fee means the greater of (a) 1/12 of 0.02% of the Pool Balance as of the first day of each Collection Period and (b) $4,000.
Backup Servicing Fee shall have the meaning given to such term in the fee letter, dated as of the date hereof, among the Originator, the Trust Depositor, the Issuer and the Backup Servicer.
Backup Servicing Fee means, as to each Payment Date, $4,000; provided, however, that if the Backup Servicer becomes the Successor Servicer, such fee shall no longer be paid.
Backup Servicing Fee means, for any Accounting Period, the fees set forth in Section 6.10 hereof.