Liquidation Fees definition
Liquidation Fees shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.
Liquidation Fees has the meaning set forth in the Servicing Agreement.
Liquidation Fees means, in the event of any prepayment of a Loan owing to a Lender, and for the Interest Period during which such Loan was prepaid, the amount, if any, by which (i) interest would have accrued for each day during such Interest Period on the reduction of the principal amount of such Loan during such Interest Period had such reduction not occurred, exceeds (ii) the positive income, if any, received by such Lender from the investment of the proceeds of such reduction. A certificate as to the amount of any Liquidation Fee (including the computation of such amount) shall be submitted by the Paying Agent on behalf of the affected Lender to Company and Administrative Agent and shall be conclusive and binding for all purposes, absent manifest error.
Examples of Liquidation Fees in a sentence
The Loss of Value Payment shall include the portion of any Liquidation Fees payable to the Enforcing Servicer in respect of such Loss of Value Payment and the portion of fees of the Asset Representations Reviewer payable pursuant to Section 4(l) above attributable to the Asset Review of such Mortgage Loan and not previously paid by the Responsible Repurchase Party.
All expenses and losses relating to the Mortgage Loan and the Mortgaged Property, including without limitation losses of principal and interest, Property Protection Advances, Advance Interest Amounts, Special Servicing Fees, Liquidation Fees and Workout Fees, Appraisal Reduction Amounts and certain other trust expenses, shall be allocated on a Pro Rata and Pari Passu Basis.
All expenses, losses and shortfalls including, without limitation, losses of principal or interest, Advances that have been declared Nonrecoverable Advances, interest on Advances, Special Servicing Fees, Work-out Fees and Liquidation Fees (including any such fees related to the related Notes) and other Trust Fund Expenses relating to the servicing and administration of the Whole Loan will be allocated to the holders of the Notes in accordance with the Co-Lender Agreement.
The Loss of Value Payment shall include the portion of any Liquidation Fees payable to the Special Servicer in respect of such Loss of Value Payment and the portion of fees and reimbursable expenses of the Asset Representations Reviewer attributable to the Asset Review of such Mortgage Loan and not previously paid by the Mortgage Loan Seller.
The Loss of Value Payment shall include the portion of any Liquidation Fees payable to the Enforcing Servicer in respect of such Loss of Value Payment and the portion of fees of the Asset Representations Reviewer payable pursuant to Section 4(l) above attributable to the Asset Review of such Mortgage Loan (or, in the case of a Joint Mortgage Loan, the applicable Mortgage Loan Seller Percentage Interest thereof) and not previously paid by the Responsible Repurchase Party.
More Definitions of Liquidation Fees
Liquidation Fees has the meaning set forth in the Trust Agreement.
Liquidation Fees means reimbursement for the costs and expenses for time and effort to sell or otherwise liquidate a Financed Vehicle after default and repossession.
Liquidation Fees means, in the event of any prepayment of a Class A Revolving Loan pursuant to Section 2.11(c)(vii)(B) owing to a Class A Revolving Lender, and for the Interest Period during which such Class A Revolving Loan was prepaid, the amount, if any, by which (i) interest would have accrued at the Cost of Funds Rate for each day during such Interest Period on the reduction of the principal amount of such Class A Revolving Loan during such Interest Period had such reduction not occurred, exceeds (ii) the positive income, if any, received by such Class A Revolving Lender from the investment of the proceeds of such reduction. A certificate as to the amount of any Liquidation Fee (including the computation of such amount) shall be submitted by the Class A Managing Agent on behalf of the affected Class A Revolving Lender to Company and Paying Agent and shall be conclusive and binding for all purposes, absent manifest error.
Liquidation Fees paid with respect to the Mortgage Loan and any related Serviced Companion Mortgage Loan or B Note) that are reimbursable or payable to the Master Servicer, the Special Servicer, the Paying Agent, the Trustee, the Fiscal Agent, any Non-Serviced Mortgage Loan Master Servicer or any Non-Serviced Mortgage Loan Special Servicer, plus (D) if such Mortgage Loan or REO Mortgage Loan is being repurchased or substituted for by a Seller pursuant to the related Mortgage Loan Purchase Agreement, all expenses reasonably incurred or to be incurred by the Primary Servicer, the Master Servicer, the Special Servicer, the Depositor, the Paying Agent or the Trustee in respect of the Material Breach or Material Document Defect giving rise to the repurchase or substitution obligation (and that are not otherwise included in (C) above).
Liquidation Fees means, in the event of any prepayment of a Revolving Loan pursuant to Section 2.11(c)(vii)(B) owing to a Class A Revolving Lender or a Class B Revolving Lender, as applicable, and for the Interest Period during which such Revolving Loan was prepaid, the amount, if any, by which (i) interest would have accrued at the Cost of Funds Rate, with respect to any Class A Revolving Loan that was so prepaid, or the Alternative Rate, with respect to any Class B Revolving Loan that was so prepaid, for each day during such Interest Period on the reduction of the principal amount of such Revolving Loan during such Interest Period had such reduction not occurred, exceeds (ii) the positive income, if any, received by such Class A Revolving Lender or Class B Revolving Lender, as applicable, from the investment of the proceeds of such reduction. A certificate as to the amount of any Liquidation Fee (including the computation of such amount) shall be submitted by the Class A Managing Agent on behalf of the affected Class A Revolving Lender, or the Class B Agent on behalf of the affected Class B Revolving Lender, as applicable, to Company and Paying Agent and shall be conclusive and binding for all purposes, absent manifest error.
Liquidation Fees has the meaning set forth in the Servicing Agreement. “Majority of Controlling Class Members” means, (x) except as set forth in clause (y), with respect to the Controlling Class Members (or, if specified, any subset thereof) and as of any day of determination, Controlling Class Members that hold in excess of 50% of the sum of (i) the Class A-1 Notes Voting Amount with respect to each Series of Class A-1 Notes of the Controlling Class and (ii) the Outstanding Principal Amount of each Series of Notes of the Controlling Class (other than Class A-1 Notes) or any beneficial interest therein as of such day of determination (excluding any Notes or beneficial interests in Notes held by any Securitization Entity or any Affiliate of any Securitization Entity) and (y) with respect to the election of a Controlling Class Representative, Controlling Class Members that hold in excess of 50% of the sum of (i) the Class A-1 Notes Voting Amount with respect to each Series of Class A-1 Notes of the Controlling Class and (ii) the Outstanding Principal Amount of each Series of Notes of the Controlling Class (other than Class A-1 Notes) or any beneficial interest therein, in each case, that are Outstanding as of the CCR Voting Record Date and with respect to which votes were submitted by the applicable deadline for voting (which may be less than the Outstanding Principal Amount of Notes of the Controlling Class as of the CCR Voting Record Date). “Majority of Senior Noteholders” means Senior Noteholders holding in excess of 50% of the sum of (i) the Class A-1 Notes Voting Amount with respect to each Series of Class A-1 Notes Outstanding and (ii) the Outstanding Principal Amount of each Series of Senior Notes other than Class A-1 Notes (excluding any Senior Notes or beneficial interests in Senior Notes held by any Securitization Entity or any Affiliate of any Securitization Entity). “Management Accounts” means, collectively, the Securitized Corporate-Owned StoreClub Accounts, the Equipment Distributor Operating Accounts, the Lease Obligations Accounts, the Franchisor Capital Accounts, the Concentration Accounts, the Asset Disposition Proceeds Account, the Insurance Proceeds Account, and such other accounts as may be established by the Manager from time to time pursuant to the Management Agreement that the Manager designates as a “Management Account” for purposes of the Management Agreement. “Management Agreement” means the Management Agreement, dated as of the Initial Closing Dat...
Liquidation Fees means, (i) in the case where the principal of an individual loan has been repaid or set off prior to the repayment date (including the case where the guaranteed obligation of a guarantor with respect to the principal of said individual loan has been repaid or set off), or (ii) In the case where the principal of an individual loan has been repaid or set off after the repayment date. The same shall apply hereinafter in this item.), (iii) In the case where the Individual Loan is not executed because all or part of the conditions in Article 5 are not satisfied, or (iv) in the case where the Borrower loses the benefit of term of the Individual Loan and the re-deployment interest rate is lower than the Applicable Interest Rate, the amount calculated by multiplying the principal amount subject to liquidation payment by the difference between the re-deployment interest rate and the Applicable Interest Rate and the actual number of days remaining in the remaining period. However, such amount shall be an amount that does not violate any laws or regulations. The “Commencement Date of Liquidation Payment Calculation” means, with respect to this item (i), the date of such repayment or offsetting, and with respect to this item (ii) and (iii), the desired date of execution with respect to such Individual Loan, and with respect to this item (iii), the date of such individual loan. The “principal amount subject to liquidation proceeds” means, with respect to this item (i), the principal amount on which the repayment or setoff was made, with respect to this item (ii) and (iii), the amount of the individual loans made with respect to such individual loans, and with respect to this item (iv), the principal amount of such individual loans on the date when the borrower forfeited the benefit of time, as reasonably determined by the lender. Remaining period” means the period from the commencement date of the liquidation payment calculation (including the same date) to the repayment date (including the same date). “Residual Period” means the period from the commencement date (including the same date) to the repayment date (including the same date). “Re-operation interest rate” means the interest rate reasonably determined by the lender based on the assumption that the principal amount subject to the liquidation proceeds is re-operated in the Tokyo interbank market over the remaining period.