Liquidation Fee Rate definition

Liquidation Fee Rate. With respect to each Specially Serviced Mortgage Loan or REO Property as to which a Liquidation Fee is payable, 1.0%.

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Liquidation Fee Rate. With respect to each Specially Serviced Mortgage Loan or Administered REO Property as to which a Liquidation Fee is payable, (a) 1.00% or (b) if such rate set forth in clause (a) above would result in an aggregate Liquidation Fee less than $25,000, then the lesser of (i) 3.00% and (ii) such lower rate as would result in an aggregate Liquidation Fee equal to $25,000; in each case as calculated prior to the application of any Offsetting Modification Fees as contemplated in Section 3.11(c).

Liquidation Fee Rate. A rate equal to the lesser of (a) such rate as would result in a Liquidation Fee of $1,000,000 and (b) 1.0%; provided, however, that except as contemplated in the definition of “Liquidation Fee”, no Liquidation Fee will be less than $25,000.

Examples of Liquidation Fee Rate in a sentence

• As to each such Specially Serviced Mortgage Loan or REO Property, the Liquidation Fee shall be payable from, and shall be calculated by application of the Liquidation Fee Rate to, such full or discounted payoff and/or such Liquidation Proceeds.

• As to each such Specially Serviced Loan or REO Loan, the Liquidation Fee shall be payable out of, and shall be calculated by application of the Liquidation Fee Rate to, any such full, partial or discounted payoff, Condemnation Proceeds and/or Liquidation Proceeds received or collected in respect thereof (other than any portion of such payment or proceeds that represents Default Charges, Excess Interest or a Prepayment Premium).

• As further compensation for its activities hereunder, the Servicer shall also be entitled to receive a fee (the “Liquidation Fee”) with respect to any Net Liquidation Proceeds equal to the product of the Liquidation Fee Rate and the amount of such Net Liquidation Proceeds, which shall be payable upon receipt of such proceeds.

• As to each such Specially Serviced Mortgage Loan or REO Loan, the Liquidation Fee shall be payable out of, and shall be calculated by application of the Liquidation Fee Rate to, any such full, partial or discounted payoff, Condemnation Proceeds and/or Liquidation Proceeds received or collected in respect thereof (other than any portion of such payment or proceeds that represents Default Charges, Excess Interest or a Prepayment Premium).

• As to each such Specially Serviced Mortgage Loan or REO Property, the Liquidation Fee shall be payable from, and shall be calculated by application of the Liquidation Fee Rate to, such full, partial or discounted payoff and/or such Liquidation Proceeds (net of the related costs and expenses associated with related liquidation).

More Definitions of Liquidation Fee Rate

Liquidation Fee Rate. A rate equal to 1.00%.

Liquidation Fee Rate. A rate equal to 0.50% (50 basis points).

Liquidation Fee Rate. A rate equal to 0.25%.

Liquidation Fee Rate. With respect to all amounts set forth in the third paragraph of Section 3.11(c), 1.00%.

Liquidation Fee Rate. With respect to each Specially Serviced Loan, a rate equal to 1.0%.

Liquidation Fee Rate. A rate equal to the lesser of (i) 1.00% (or, in the case of the Marriott World Headquarters Mortgage Loan, 0.50%) with respect to any Specially Serviced Loan and REO Property; provided that if such rate would result in an aggregate Liquidation Fee of less than $25,000, then the Liquidation Fee Rate will be equal to such higher rate as would result in an aggregate Liquidation Fee equal to $25,000 and (ii) such lower rate that would result in a Liquidation Fee of $1,000,000.

Liquidation Fee Rate. A rate equal to the lesser of (a) such rate as would result in a Liquidation Fee of $1,000,000 for the subject Serviced Loan (or Serviced Loan Combination, if applicable) and (b) 1.0%; provided, however, that except as contemplated in the definition of “Liquidation Fee”, no Liquidation Fee for any Serviced Loan (or Serviced Loan Combination, if applicable) will be less than $25,000.