Loan Trailing Fee definition

Loan Trailing Fee means, with respect to a Loan, a fee equal to the product of (a) the Loan Trailing Factor, (b) [***] and (c) a fraction, the numerator of which is the number of calendar days in the month to which such payment relates and the denominator of which is the number of calendar days in the year that includes such month.

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Loan Trailing Fee has the meaning assigned thereto in Exhibit B hereof.

Loan Trailing Fee shall have the meaning set forth in Schedule 2, section (i).

Examples of Loan Trailing Fee in a sentence

• In connection with this Agreement, Indenture Trustee shall pay Successor Servicer the Successor Servicing Fees; provided, that to the extent applicable, Successor Servicer shall pay any Loan Trailing Fee received by Successor Servicer (i) to the extent PFL is a going concern at the time of receipt of such Loan Trailing Fee, to Servicer, and (ii) otherwise, to Bank, in each case, within five (5) Business Days of receipt thereof.

• The Parties will cooperate in good faith to develop, within ninety (90) days following the Effective Date, procedures for payment of the Loan Trailing Fee on loans that are charged off, including payment of a portion of the net proceeds released upon sale of such a loan; provided, that proceeds of charged-off Loans shall not be subject to payment of the Loan Trailing Fee until such procedures are developed.

• The Loan Trailing Fee for a month shall be paid by Company within five (5) Business Days following the month in which the amounts are collected.

• The Loan Trailing Fee for a Loan or Receivable is equal to the Loan Fee Factor multiplied by all amounts actually received by Company as servicer of a Loan or Receivable (or any successor servicer) in connection with such Loan or Receivable during the month (but excluding late fees, returned check fees, and any fees associated with the method of payment and net of reasonable collection fees), and before the deduction or payment of any servicing fee due to Company as servicer (or any successor servicer).

• For the avoidance of doubt, Bank is entitled to payment of the Loan Trailing Fee on a Loan only [***].

More Definitions of Loan Trailing Fee

Loan Trailing Fee has the meaning assigned thereto in Exhibit B hereof. (y) “Losses” has the meaning assigned thereto in Section 12(a) hereof. (z) “Material Adverse Effect” means, with respect to any Person and to any event or circumstance, a material adverse effect on (i) the business, condition (financial or otherwise), operations, performance or properties of such Person and its Affiliates, taken as a whole, or (ii) the ability of such Person to perform its obligations under this Agreement. (aa) “Monthly Master File” has the meaning assigned thereto in Section 4(c) hereof. (bb) “Monthly Report” has the meaning assigned thereto in Section 4(c) hereof. (cc) “Obligor” means, with respect to a Loan, each borrower, guarantor or other Person obligated to make payments thereon pursuant to the related Loan Documents. (dd) “Person” means an individual, joint stock company, trust, unincorporated association, joint venture, corporation, business trust, partnership or other organization or entity (whether governmental or private). (ee) “Privacy Requirements” has the meaning assigned thereto in Section 16(b) hereof. (ff) “Proceeding” means any suit in equity, action at law or other judicial or administrative proceeding. (gg) “Representatives” has the meaning assigned thereto in Section 16(a) hereof. (hh) “Retail Platform” means the online credit platform owned and operated by PFL, and any of its related systems and data for the purchase of Borrower Payment Dependent Notes by retail investors. (ii) “Serviced Assets” means the Loans and/or Borrower Payment Dependent Notes serviced by Servicer pursuant ot the Indenture. (jj) “Servicer” has the meaning assigned thereto in the preamble to this Agreement. (kk) “SPE” has the meaning assigned thereto in the recitals to this Agreement. (ll) “Successor Servicer” has the meaning assigned thereto in the recitals to this Agreement. 4 CONFIDENTIAL TREATMENT [***] indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the SEC. (mm) “Successor Servicing Agreement” has the meaning assigned thereto in the recitals to this Agreement. (nn) “Successor Servicing Fee” has the meaning assigned thereto in Exhibit B hereto. 2. Loans Covered by this Agreement. As of the date hereof, this Agreement applies to any and all Loans serviced by Servicer from time to time.

Loan Trailing Fee shall have the meaning set forth in Schedule 2 to the Asset Sale Agreement.