Servicing Fee Shortfall definition

Servicing Fee Shortfall means, as of any date of determination within a Settlement Period, the amount, if any, by which the Accrued Servicing Fee exceeds the Retained Servicing Fee, in each case as of such date.
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Servicing Fee Shortfall has the meaning specified in Section 3.06 of the Servicing Agreement.
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Servicing Fee Shortfall means for any Distribution Date, the excess, if any, of (a) the aggregate amount payable to the Servicer pursuant to Section 3.01(d) with respect to such Distribution Date, and (b) the aggregate amount of Card Series Finance Charge Amounts available after giving effect to Section 3.01(c) on such Distribution Date.
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Examples of Servicing Fee Shortfall in a sentence

  • The Trust, as payment of the purchase price of the Mortgage Pool Assets and in consideration of the Company making the Initial Group 1 Servicing Fee Shortfall Deposit, the Initial Group 2 Servicing Fee Shortfall Deposit and the Initial Interest Shortfall Deposit pursuant to Section 2.01, shall, on the Closing Date, issue the REMIC I Regular Interests and the Class R-1 Residual Interest to the Company.

  • The Calculation Agent shall make the following adjustments after giving effect to step (42) of the Cash Flows (Series Servicing Fee Shortfall from Class C Principal): Class A Usage of Class C Notes.

  • The Prefunding Excess Amount for each Tranche of Notes shall be withdrawn from the Principal Funding Subaccount for such Tranche, deposited into the DiscoverSeries Collections Account and treated as Series Principal Amounts (to be added to the Series Principal Amounts remaining after step (43) (Series Servicing Fee Shortfall from Class B Principal)).

  • The Series Servicing Fee Shortfall and the Reallocated Finance Charge Amounts shall be reduced by the amount of such payment.

  • The Calculation Agent shall make the following adjustments after giving effect to step (41) of the Cash Flows (Series Servicing Fee Shortfall from Class D Principal): Class A Usage of Class D Notes.

  • The Calculation Agent shall make the following adjustments after giving effect to step (43) of the Cash Flows (Series Servicing Fee Shortfall from Class B Principal): Class A Usage of Class B Notes.

  • To the extent such remaining Available Funds are insufficient to pay the Servicing Fee Shortfall on any Distribution Date, the Seller shall be required to pay any unpaid Servicing Fee Shortfall directly to the Servicer out of its own funds.

  • An amount equal to the lesser of (x) the Class D Interest Allocation Shortfall after step (8) (Class D Interest Allocation from Series Finance Charge Amounts) and (y) the Reallocated Finance Charge Amounts remaining after step (14) (Series Servicing Fee Shortfall from Reallocated Finance Charge Amounts) shall be deposited into the Interest Funding Account.

  • For each Tranche of Class B Notes, an amount equal to the lesser of (x) the Nominal Liquidation Amount Deficit for such Tranche after giving effect to step (43) (Series Servicing Fee Shortfall from Class B Principal) and (y) the Class B Available Subordinated Amount of Class D Notes for such Tranche after step (21) of the Subordination Waterfall (Adjustments for Application of Class D Principal to Series Servicing Fee Shortfall) shall be reallocated to the Class D Notes.

  • For each Tranche of Class B Notes, an amount equal to the lesser of (x) the Nominal Liquidation Amount Deficit for such Tranche after giving effect to step (46) (Reallocation of Class B Nominal Liquidation Amount Deficit to Class D) and (y) the Class B Available Subordinated Amount of Class C Notes for such Tranche after step (22) of the Subordination Waterfall (Adjustments for Application of Class C Principal to Series Servicing Fee Shortfall) shall be reallocated to the Class C Notes.


More Definitions of Servicing Fee Shortfall

Servicing Fee Shortfall. As of any date of determination within a Settlement Period, the amount, if any, by which the Accrued Servicing Fee exceeds the Retained Servicing Fee, in each case as of such date; provided, however, that if on any date of determination, the Servicing Fee is not required to be deposited in Retention Account pursuant to Section 6.3(a)(ii)(C) of the Purchase Agreement, the Servicing Fee Shortfall shall be zero.
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Servicing Fee Shortfall means, for any day within a Settlement Period, ----------------------- the amount, if any, by which the Accrued Servicing Fee calculated as of that day exceeds the Retained Servicing Fee as of that same day.
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Servicing Fee Shortfall means for any Payment Date, the excess, if any, of (a) the aggregate amount payable to the Servicer pursuant to Section 4.07(c) with respect to such Payment Date, and (b) the aggregate amount of Available Finance Charge Collections available after giving effect to Section 4.07(b) on such Payment Date.
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Servicing Fee Shortfall has the meaning set forth in Section 6.6 hereof.
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Related to Servicing Fee Shortfall

  • Finance Charge Shortfall shall have the meaning specified in Section 4.09.

  • Class A-P Collection Shortfall With respect to the Cash Liquidation or REO Disposition of a Discount Mortgage Loan and any Distribution Date, the excess of the amount described in Section 4.02(b)(i)(C)(1) over the amount described in Section 4.02(b)(i)(C)(2).

  • 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.

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

  • Class A Servicing Fee shall have the meaning specified in Section 3.01.

  • Servicing Fee Percentage With respect to each Mortgage Loan, the percentage specified on the Servicer Mortgage Loan Schedule.

  • Class B Servicing Fee shall have the meaning specified in Section 3.01.

  • Available Funds Shortfall Amount means, as of any Payment Date, the amount, if any, by which the aggregate amount required to be paid pursuant to clauses first through twelfth of Section 4.4(a) of the Sale and Servicing Agreement exceeds the Available Funds for such Payment Date.

  • Available Funds Shortfall as defined in Section 3.04(b).

  • Collateral Shortfall Amount is defined in Section 8.1.

  • Excess Servicing Fee Rate The rate of 0.0% per annum with respect to each Mortgage Loan.

  • Servicing Fee Rate With respect to each Mortgage Loan, 0.50% per annum.

  • Series Servicing Fee Percentage means 2.0%.

  • Excess Servicing Fee For each calendar month, as to each Mortgage Loan, the portion of the related Excess Servicing Fee Rate applicable to such month (determined in the same manner as the applicable Mortgage Rate determined for such Mortgage Loan for such month) multiplied by the Scheduled Principal Balance of such Mortgage Loan immediately before the Due Date occurring in such month, but prorated for the number of days during the calendar month for such Mortgage Loan for which interest actually accrues on such Mortgage Loan and only from collections on such Mortgage Loan.

  • 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 Servicing Fee Rate With respect to each Mortgage Loan, 0.25% per annum.

  • Excess Servicing Fees With respect to each Mortgage Loan (including an REO Mortgage Loan), that portion of the Servicing Fee that accrues at a per annum rate equal to the Excess Servicing Fee Rate.

  • Series Principal Shortfall means with respect to any Transfer Date, the excess, if any, of (a) (i) with respect to any Transfer Date relating to the Controlled Accumulation Period, the Controlled Deposit Amount for such Transfer Date, and (ii) with respect to any Transfer Date during the Rapid Amortization Period, the Adjusted Investor Interest over (b) the Investor Principal Collections minus the Reallocated Principal Collections for such Transfer Date.

  • Note Interest Shortfall means, for a Class and a Payment Date, an amount equal to the excess, if any, of the Accrued Note Interest for the prior Payment Date for the Class over the amount of interest that was paid to the Noteholders of that Class on the prior Payment Date, together with interest on the excess amount, to the extent lawful, at the Note Interest Rate for the Class for that Interest Period.

  • 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.

  • Excess Servicing Fee Right With respect to each Mortgage Loan (including an REO Mortgage Loan with respect thereto), the right to receive Excess Servicing Fees. In the absence of any transfer of the Excess Servicing Fee Right, the Master Servicer shall be the owner of such Excess Servicing Fee Right.

  • 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.

  • Primary Servicing Fee Rate means, with respect to each Mortgage Loan, the rate that corresponds to such Mortgage Loan set forth on Exhibit A hereto under the heading “Primary Servicing Fee.”

  • Class B Note Principal Shortfall means, as of the close of any distribution date, the excess of: • the Class B Noteholders’ Principal Distribution Amount on that distribution date, over • the amount of principal actually distributed to the class B noteholders on that distribution date.

  • Class B-6 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-6 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-6 Certificates on such Distribution Date pursuant to Paragraph twentieth of Section 4.01(a).

  • Subservicing Fee As to any Mortgage Loan, the fee payable monthly to the related Subservicer (or, in the case of a Nonsubserviced Mortgage Loan, to the Master Servicer) in respect of subservicing and other compensation that accrues at an annual rate equal to the excess of the Mortgage Rate borne by the related Mortgage Note over the rate per annum designated on the Mortgage Loan Schedule as the "CURR NET" for such Mortgage Loan.