Backup Servicing Fee Letter definition

Backup Servicing Fee Letter means (i) the fee letter, dated October 20, 2010, setting forth the Backup Servicing Fees payable to the Backup Servicer; and (ii) any replacement backup servicing fee letter entered into from time to time with the prior written consent of the Majority Purchasers; in each case as such letters may be amended, supplemented or otherwise modified from time to time in accordance with the terms hereof.
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Backup Servicing Fee Letter means the fee letter (if any) approved in writing by the Control Party, setting forth the Backup Servicing Fees payable to the Backup Servicer, as the same may be amended, supplemented or otherwise modified from time to time with the prior written consent of the Control Party. "BACKUP SERVICING FEES" means all fees and reimbursable expenses (excluding Transition Expenses) payable pursuant to the Backup Servicing Agreement or the Backup Servicing Fee Letter. "BANK RATE" for any Purchaser for any Yield Period for any Portion of Investment means an interest rate PER ANNUM equal to the Applicable Margin above the Eurodollar Rate for such Purchaser for such Yield Period; provided, further, that in the case of
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Backup Servicing Fee Letter means the letter agreement dated as of even --------------------------- date herewith between the Backup Servicer and the Agent, as amended or otherwise modified from time to time.
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Examples of Backup Servicing Fee Letter in a sentence

  • As compensation therefor, the Backup Servicer or Fair, as the case may be, shall thereafter be entitled to the Servicing Fee together with any other rights to reimbursement to which the Servicer is entitled as specified herein, Transition Expenses and, solely in the case of the Backup Servicer, the one-time successor servicer fee specified in the Backup Servicing Fee Letter.

  • The Seller shall not amend, supplement, amend and restate, or otherwise modify the Purchase and Sale Agreement, the Company Note, any other document executed under the Purchase and Sale Agreement, the Deposit Account Agreements, the Backup Servicing Agreement, the Backup Servicing Fee Letter (if any) or the Seller’s articles of incorporation or by-laws, except (A) in accordance with the terms of such document, instrument or agreement and (B) with the prior written consent of the Agent.

  • As compensation therefor, the Backup Servicer shall thereafter be entitled to the Servicing Fee together with the one-time successor servicer fee specified in the Backup Servicing Fee Letter, any other rights to reimbursement to which the Servicer is entitled as specified herein, plus Transition Expenses.

  • As compensation for its back-up servicing activities hereunder, the Backup Servicer shall be entitled to receive a Backup Servicing Fee as agreed to between the Backup Servicer, the Borrower and the Agents in the Backup Servicing Fee Letter (the "Backup Servicing Fee") in accordance with Sections 2.7(iv) or 2.8(iv) as applicable.

  • The Agent shall pay to the Backup Servicer out of the Agent's Fee, a collection fee (the "Backup Servicing Fee") -------------------- in the amounts and on the dates set forth in the Backup Servicing Fee Letter.

Related to Backup Servicing Fee Letter

  • 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 Servicer Fee means the fee to be paid to the Backup Servicer as set forth in the Backup Servicing Agreement.

  • Backup Servicing Agreement means the Backup Servicing Agreement dated as of the Closing Date, among the Backup Servicer, Credit Acceptance, the Seller, the Issuer and the Trust Collateral Agent.

  • Master Servicing Fee As to any Distribution Date, an amount equal to one-twelfth the product of (a) the Master Servicing Fee Rate and (b) the outstanding principal balance of each Mortgage Loan. Master Servicing Fee Rate: 0.00% per annum.

  • Special Servicing Fee shall have the meaning given to such term in the Servicing Agreement.

  • Noteholder Servicing Fee is defined in Section 3.1.

  • Back-Up Servicing Agreement means that certain Back-Up Servicing Agreement to be entered into by and among the Company, the Administrative Agent and the Back-Up Servicer, as such agreement may be amended, restated, supplemented or otherwise modified from time to time.

  • Subservicing Fee As to any Mortgage Loan, the fee payable monthly to the related Subservicer (or, in the case of a Nonsubserviced Mortgage Loan, to the Master Servicer) in respect of subservicing and other compensation that accrues at an annual rate equal to the excess of the Mortgage Rate borne by the related Mortgage Note over the rate per annum designated on the Mortgage Loan Schedule as the "CURR NET" for such Mortgage Loan.

  • Servicer Fee has the meaning specified in Section 2.05(a).

  • Backup Servicer means Wxxxx Fargo Bank, National Association, in its capacity as Backup Servicer under this Agreement.

  • Servicing Fee means the fee payable to the Servicer for services rendered during each Collection Period, determined pursuant to Section 4.08 of the Sale and Servicing Agreement.

  • Investor Servicing Fee means, with respect to any Distribution Date, an amount equal to the product of the Investor Servicing Fee Percentage and the Series Investor Interest on the first day of the Due Period related to such Distribution Date (or in the case of the first Distribution Date for the Series established hereby, the Series Initial Investor Interest).

  • Class A Servicing Fee shall have the meaning specified in Section 3.01.

  • Special Servicing Fees shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Master Servicing Fee Rate With respect to each Mortgage Loan, 0.25% per annum.

  • Special Servicing Fee Rate With respect to each Specially Serviced Mortgage Loan and each REO Loan, 0.25% per annum.

  • Collateral Servicing Fee shall have the meaning set forth in Section 3.01.

  • Primary Servicing Fee means, with respect to each Mortgage Loan and REO Mortgage Loan, the fee payable to the Primary Servicer pursuant to Section 3.01(c)(20) of this Agreement.

  • Class B Servicing Fee shall have the meaning specified in Section 3.01.

  • Master Servicing Agreement means the master servicing agreement entered into on 20 May 2013 between the Guarantor, the Issuer and the Master Servicer.

  • Sub-Servicing Agreement The written contract between the Servicer and a Sub-Servicer relating to servicing and administration of certain Mortgage Loans as provided in Section 3.02.

  • Back-Up Servicer means, initially, Xxxxx Fargo Bank, National Association, and at any other time, the Person then acting as “Back-up Servicer” pursuant to and in accordance with the Back-up Servicing Agreement.

  • Total Servicing Fee means the sum of the Basic Servicing Fee and the Supplemental Servicing Fee.

  • Supplemental Servicing Fee means, with respect to any Collection Period, all administrative fees, expenses and charges paid by or on behalf of Obligors, including late fees, prepayment fees and liquidation fees collected on the Receivables during such Collection Period but excluding any fees or expenses related to extensions.

  • Servicing Fee Rate With respect to each Mortgage Loan, 0.50% per annum.

  • Master Servicer Advance Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.