Servicer Fee definition

Servicer Fee means a fee with respect to each Accounting Period, payable in arrears on each Settlement Date for the account of the Servicer, in an amount equal to the product of (i) one-twelfth of the Servicer Fee Rate and (ii) the aggregate Principal Balances of all Pledged Contracts as of the last day of such Accounting Period; provided that if the Servicer is not DTCC or an Affiliate of DTAC, the Servicer Fee shall be reflective of the market rate for servicing similar Contracts.

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

Servicer Fee is defined in Section 3.5.

Examples of Servicer Fee in a sentence

• The Servicer Fee for any Monthly Period shall be due and payable on each Settlement Date.

• All monies on deposit in the Collection Account (including all investment earnings but excluding any unpaid Servicer Fee and any unpaid Servicing Expense) shall be the sole property of the Purchaser.

• The Servicer shall reimburse itself for the Servicer Fee and any Servicing Expenses by netting such amounts from Collections otherwise required to be remitted to Purchaser pursuant to Section 5.06(d) on each Settlement Date.

• Upon a Servicing Transfer, the Successor Servicer shall also be entitled to receive the Servicer Fee for performing the obligations of the Servicer.

• As compensation for its servicing activities under this Agreement, the Servicer shall be entitled to the Servicer Fee.

More Definitions of Servicer Fee

Servicer Fee shall have the meaning set forth in Section 2.1(b) of the Servicing Agreement.

Servicer Fee means on any Payment Date, an amount equal to one per cent. per annum (calculated on the basis of a 365 day year for days actually elapsed) of the Discounted Receivables Balance for such Payment Date.

Servicer Fee means the compensation payable under the Servicing Agreement to the Servicer.

Servicer Fee means, for each Collection Period, a fee payable to the Servicer in arrears on each Payment Date (in accordance with the Priority of Payments) in an amount equal to the amount provided for in the Servicing Agreement.

Servicer Fee means, for any Collection Period, an amount equal to the product of (i) 0.50% per annum multiplied by (ii) the Fee Basis Amount (calculated on the basis of a 360-day year and the actual number of days elapsed in the related Collection Period).

Servicer Fee is defined in Section 2.4(b).

Servicer Fee means, in relation to a FleetCo, the fee payable to the relevant Servicer pursuant to clause 10 of each Italian Servicing Agreement, clause 12 of the Spanish Servicing Agreement, clause 10 of the French Servicing Agreement and clause 10 of the Central Servicing Agreement.