Collateral Servicing Fee definition
Examples of Collateral Servicing Fee in a sentence
The Collateral Servicing Fee is payable on each Payment Date only to the extent that sufficient Interest Proceeds and Principal Proceeds are available.
To the extent the Collateral Servicing Fee is not paid on any Payment Date when due and such fee was not voluntarily deferred or waived (the “Collateral Servicing Fee Shortfall Amount”), or the Collateral Servicer elects to defer all or a portion thereof and later rescinds such deferral election, the Collateral Servicing Fee will be deferred and will be payable on subsequent Payment Dates in accordance with the Priority of Payments.
Interest on Collateral Servicing Fee Shortfall Amount shall accrue at the Prime Rate for the period beginning on the first Payment Date on which the related Collateral Servicing Fee was due (and not paid) through the Payment Date on which such Collateral Servicing Fee Shortfall Amount (including accrued interest) is paid.