Servicer Expense Cap definition

Servicer Expense Cap means, for any Payment Date, an amount not to exceed $75,000 during any twelve (12) month period.
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Servicer Expense Cap means, for any Payment Date, an amount not to exceed $100,000 during any twelve (12) month period.
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Servicer Expense Cap means, as of any Payment Date, an amount equal to $25,000.
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More Definitions of Servicer Expense Cap

Servicer Expense Cap means, as of any Payment Date, an amount equal to $25,000. “Servicer Termination Event” means the occurrence of any of the events, acts or circumstances set forth in Section 6.03. “Servicing Fees” means the monthly fee, accruing from the Closing Date, payable in arrears on each Payment Date, in an amount equal to 0.50% per annum (calculated on the basis of a 360-day year and the actual number of days elapsed) of the Monthly Asset Amount; provided, however, that if the Backup Servicer is acting as successor Servicer, such fee shall be in an amount equal to 1.00% per annum with a monthly minimum of $6,500. “Servicing Standard” means, with respect to any Collateral Loans, to service and administer such Collateral Loans in accordance with the Loan Documents, SBA Standard Operating Procedures and Official Notices with respect to SBA Loans, and all customary and usual servicing practices (a) which are consistent with the higher of: (i) the customary and usual servicing practices that a prudent loan investor or lender would use in servicing loans like the Collateral Loans for its own account, and (ii) the - 35- 34881204v6 110062879
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Servicer Expense Cap means, for any Payment Date, an amount not to exceed $25,000 during any twelve (12) month period. “Servicer Expenses” means the out-of-pocket expenses incurred by the Servicer in connection with the Facility Documents. “Servicer Fee” means the fee to the Servicer for services rendered and performed of its obligations under this Agreement, in arrears on each Payment Date (subject to availability of funds and the Priority of Payments), in an amount equal to 0.50% per annum of the Fee Basis Amount; measured as of the Determination Date immediately preceding such Payment Date (calculated on the basis of a 360-day year and the actual number of days elapsed). Notwithstanding the foregoing, the Servicer Fee will be 0.0% so long as TRP OHA SERVICER I, LLC or a Person within the OHA Group acts as the Servicer. “Servicing Standard” has the meaning assigned to such term in Section 11.02(d). “Solvent” means, as to any Person, such Person is not “insolvent” within the meaning of Section 101(32) of the Bankruptcy Code or Section 271 of the Debtor and Creditor Law of the State of New York.
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Servicer Expense Cap means, for any Payment Date, an amount not to exceed $75,000 during any twelve (12) month period. further, that if Term SOFR determined as provided above (including pursuant to the proviso above) shall ever be less than the Floor, then Term SOFR shall be deemed to be the Floor.
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Related to Servicer Expense Cap

  • Servicer Fee has the meaning specified in Section 2.05(a).

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Advance Reimbursement Amounts As defined in Section 3.29 hereof.

  • Advance Reimbursement Amount has the meaning stated in Section 4.4(b) of the Servicing Supplement.

  • Monthly Servicing Fee shall have the meaning specified in subsection 3.01.

  • Master Servicing Fee As to any Distribution Date, an amount equal to one-twelfth the product of (a) the Master Servicing Fee Rate and (b) the outstanding principal balance of each Mortgage Loan. Master Servicing Fee Rate: 0.00% per annum.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Transfer expenses means all expenses of a transfer that the transfer agreement requires the payee to pay or have deducted from the gross advance amount, including, but not limited to, court filing fees, attorney fees, escrow fees, lien recordation fees, judgment and lien search fees, finders' fees, commissions, and other payments to a broker or other intermediary. Transfer expenses do not include preexisting obligations of the payee that are payable for the payee's account from the proceeds of a transfer.

  • Servicing Fee means the fee payable to the Servicer for services rendered during each Collection Period, determined pursuant to Section 4.08 of the Sale and Servicing Agreement.

  • Special Servicing Fee shall have the meaning given to such term in the Servicing Agreement.

  • Backup Servicer Fee means, for any Collection Period, the greater of (i) the product of one-twelfth of 0.0075% and the Pool Balance as of the first day of the preceding Collection Period (or in the case of the initial Collection Period, as of the Cutoff Date) and (ii) $2,500.

  • Primary Servicing Fee means, with respect to each Mortgage Loan and REO Mortgage Loan, the fee payable to the Primary Servicer pursuant to Section 3.01(c)(20) of this Agreement.

  • Servicer Custodial Account The separate Eligible Account or Accounts created and maintained by the Servicer pursuant to Section 3.08(b).

  • Seller Expenses has the meaning set forth in Section 11.1.

  • Additional Servicing Fee means, for any Collection Period, if a successor Servicer has been appointed pursuant to Section 8.2 of the Sale and Servicing Agreement, the amount, if any, by which (i) the compensation payable to such successor Servicer for such Collection Period exceeds (ii) the Monthly Servicing Fee for such Collection Period.

  • Special Servicing Fees shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Backup Servicing Fee means, as to each Distribution Date, $4,000; provided, however, that if the Backup Servicer becomes the successor Servicer, such fee shall no longer be paid.

  • Additional Servicing Expenses means (a) all Property Protection Advances, fees and/or expenses incurred by and reimbursable to any Servicer, Trustee, Certificate Administrator or fiscal agent pursuant to the Servicing Agreement relating solely to the Mortgage Loan, and (b) all interest accrued on Advances made by (x) any Servicer or Trustee in accordance with the terms of the Servicing Agreement or (y) any Non-Lead Servicer or Non-Lead Trustee in accordance with the terms of the Non-Lead Securitization Servicing Agreement.

  • Collection Costs means an amount that the Municipality can charge with regard to the enforcement of a consumer’s monetary obligations;

  • Period Servicing Amount means, for any twelve month period with respect to each of the Shared-Loss Agreements during which the loss-sharing provisions of the applicable Shared-Loss Agreement are in effect, the product of (i) the simple average of the principal amount of Shared-Loss Loans and Shared-Loss Assets (other than the Shared-Loss Securities) (in each case as defined in the Shared-Loss Agreements), as the case may be, at the beginning of such period and at the end of such period times (ii) one percent (1%).