Examples of Senior Servicing Fee in a sentence
All Purchased Loan Proceeds standing to the credit of the Issuer Client Account at 4 p.m. (London time) on each Business Day (less the Senior Servicing Fee due and payable to the Platform Servicer in accordance with the Servicing Agreement) will be transferred on the same Business Day to the Issuer Transaction Account.
As compensation for its activities hereunder and reimbursement for its expenses, the Servicer shall be entitled to be paid the Senior Servicing Fee and the Subordinated Servicing Fee and reimbursed its reasonable out-of-pocket expenses as provided in Section 2.04.
To the extent that at any time there is more than one servicer in respect of the Loans, the Senior Servicing Fee or the Subordinate Servicing Fee, as applicable, payable hereunder shall be allocated to each servicer pro rata on the basis of the aggregate Outstanding Loan Balance serviced or managed by such servicer.
In consideration for the payment by the Borrower of the Senior Servicing Fee and the Subordinated Servicing Fee, the Servicer will be required to pay all reasonable fees and expenses owing to any bank or trust company in connection with the maintenance of the Collection Accounts and the Backup Servicer Fee and Collateral Custodian Fee pursuant to the Backup Servicer and Collateral Custodian Fee Letter.
To the extent the Senior Servicing Fee is not paid on any Payment Date when due, the Senior Servicing Fee shall be deferred and shall be payable on subsequent Payment Dates in accordance with the Priority of Payments, without interest.