Servicing Employee definition

Servicing Employee means an employee of PROVIDING PARTY or its Subsidiaries who provides services to RECEIVING PARTY and its Subsidiaries under this Agreement. "Standard Allocation", for purposes of the Services provided under this Agreement and the Schedules hereto, including the Cost Allocation section of the Schedules, shall be calculated as follows:
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Servicing Employee means an employee of PROVIDING PARTY or its Subsidiaries or its Affiliates who provides services to RECEIVING PARTY and its Subsidiaries under this Agreement.
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Servicing Employee means any employee of the Servicer authorized to execute documents on behalf of the Servicer, involved in, or responsible for, the administration and servicing of the Receivables whose name appears on a list of servicing employees furnished to FIARC, MBIA and the Collateral Agent by the Servicer, as such list may from time to time be amended.
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Examples of Servicing Employee in a sentence

  • The Direct Employee Compensation of each PROVIDING PARTY Servicing Employee shall be allocated to RECEIVING PARTY based on the percentage of work time that such Servicing Employee spends in providing the applicable Services to RECEIVING PARTY and its Subsidiaries.

  • By way of example, for a Servicing Employee of PROVIDING PARTY who has an annual salary of $50,000, a cash bonus of $20,000, and benefits of $10,000, and who spends 40% of his work time on providing Services under this Agreement, the Direct Employee Compensation allocation would be calculated as follows: ($50,000 + $20,000 + $10,000) x 40% = $32,000 In this example, RECEIVING PARTY would be allocated $32,000 of Direct Employee Compensation for this Servicing Employee.

  • There are no Actions (other than routine claims for benefits) pending or, to the Knowledge of the Sellers, threatened with respect to any Employee Benefit Plan that in any way involve any Master Servicing Employee, nor do any circumstances exist pursuant to which a Master Servicing Employee is reasonably likely to assert such an action, suit or claim.

  • The Servicer shall not be liable for an error of judgment made in good faith by a Servicing Employee, unless it shall be proved that the Servicer shall have been grossly negligent in ascertaining the pertinent facts.

  • Except as would not reasonably be expected to result in material Liability to Purchaser or any Master Servicing Employee, each Master Servicing Benefit Plan that constitutes a “nonqualified deferred compensation plan” (as defined in Section 409A(d)(1) of the Code) has, with respect to each Master Servicing Employee, at all times been operated and maintained in all respects in accordance with the requirements of Section 409A of the Code.

  • In no event shall Purchaser have any responsibility or liability for payment of any vacation, paid time off or sick days earned by a Master Servicing Employee who is not a Continuing Employee during his or her employment with the Sellers.

  • This residual amount shall be allocated to RECEIVING PARTY on the basis of the aggregate annual percentage of aircraft use by (i) Servicing Employees of PROVIDING PARTY (as herein defined) and (ii) employees of RECEIVING PARTY and its Subsidiaries, in relation to the aggregate annual aircraft use by all parties, taking into account the percentage of work time that each Servicing Employee spends in providing services to RECEIVING PARTY and its Subsidiaries hereunder.

  • By way of example, for a Servicing Employee of PROVIDING PARTY who has an annual salary of $50,000, a cash bonus of $20,000, and benefits of $10,000, and who spends 40% of his work time on providing Services under this Agreement, the Direct Employee Compensation allocation would be calculated as follows: ($50,000 + $20,000 + $10,000) × 40% = $32,000 In this example, RECEIVING PARTY would be allocated $32,000 of Direct Employee Compensation for this Servicing Employee.

  • The Direct Employee Compensation of each PROVIDING PARTY Servicing Employee shall be allocated to RECEIVING PARTY based on the percentage of work time that such Servicing Employee spends in providing the applicable Services to RECEIVING PARTY and its Subsidiaries plus third party costs related to the services.

  • Each such Master Servicing Employee who accepts such offer, becomes an employee of Purchaser or one of its Affiliates, and actually performs services for Purchaser or one of its Affiliates, in each case in connection with the Transactions, shall be referred to herein as a “Continuing Employee”.