Transition Expenses definition

Transition Expenses means, if the Backup Servicer has become the successor Servicer, the sum of: (i) reasonable costs and expenses incurred by the Backup Servicer in connection with its assumption of the servicing obligations hereunder, related to travel, Obligor welcome letters, freight and file shipping plus (ii) a boarding fee equal to the sum of: (A) the product of $7.50 and the number of Contracts to be serviced with respect to the first 10,000 Contracts to be serviced; and (B) the product of $6.00 and the number of Contracts in excess of 10,000 to be serviced with respect to any additional Contracts to be serviced; provided, however, that the boarding fee shall not be less than $50,000.

Transition Expenses. The reasonable costs (including reasonable attorneys’ fees) of the Backup Servicer incurred in connection with the transferring the servicing obligations under this Agreement and amending this Agreement to reflect such transfer in an amount not to exceed $100,000.

Transition Expenses. Expenses incurred by the Trustee in connection with the transfer of servicing upon the termination of the Servicer for a Servicer Termination Event; provided that the amount shall not exceed $50,000 in any one calendar year (and no more than $100,000 in the aggregate).

Examples of Transition Expenses in a sentence

• Total Class D Note Interest (sum a - c)$58,080.00 34.Quaternary Principal Distributable Amount$12,371,263.25 35.Required Payment Amount (Ln 24 + Ln 26 + (sum of Ln 27 through Ln 34))$13,071,574.88 36.Reserve Account Deficiency$0.00 37.Regular Principal Distributable Amount$3,884,687.58 38.Remaining Unpaid Servicer Transition Expenses and Additional Servicing Fees, if any$0.00 39.Remaining Unpaid Trustee and Asset Representations Reviewer Fees, Expenses and Indemnity Amounts, if anya.

• Quaternary Principal Distributable Amount$0.00 37.Required Payment Amount (Ln 26 + Ln 28 + (sum of Ln 29 through Ln 36))$783,061.04 38.Reserve Account Deficiency$0.00 39.Regular Principal Distributable Amount$13,222,867.43 40.Remaining Unpaid Servicer Transition Expenses and Additional Servicing Fees, if any$0.00 41.Remaining Unpaid Trustee and Asset Representations Reviewer Fees, Expenses and Indemnity Amounts, if anya.

• Quaternary Principal Distributable Amount$10,549,744.83 37.Required Payment Amount (Ln 26 + Ln 28 + (sum of Ln 29 through Ln 36))$11,145,340.96 38.Reserve Account Deficiency$0.00 39.Regular Principal Distributable Amount$3,759,375.01 40.Remaining Unpaid Servicer Transition Expenses and Additional Servicing Fees, if any$0.00 41.Remaining Unpaid Trustee and Asset Representations Reviewer Fees, Expenses and Indemnity Amounts, if anya.

• Quaternary Principal Distributable Amount$17,550,000.00 37.Required Payment Amount (Ln 26 + Ln 28 + (sum of Ln 29 through Ln 36))$21,680,380.90 38.Reserve Account Deficiency$0.00 39.Regular Principal Distributable Amount$3,508,772.74 40.Remaining Unpaid Servicer Transition Expenses and Additional Servicing Fees, if any$0.00 41.Remaining Unpaid Trustee and Asset Representations Reviewer Fees, Expenses and Indemnity Amounts, if anya.

• Quaternary Principal Distributable Amount$2,012,826.55 37.Required Payment Amount (Ln 26 + Ln 28 + (sum of Ln 29 through Ln 36))$8,085,354.76 38.Reserve Account Deficiency$0.00 39.Regular Principal Distributable Amount$34,320,925.59 40.Remaining Unpaid Servicer Transition Expenses and Additional Servicing Fees, if any$0.00 41.Remaining Unpaid Trustee and Asset Representations Reviewer Fees, Expenses and Indemnity Amounts, if anya.

More Definitions of Transition Expenses

Transition Expenses means any documented expenses and allocated cost of personnel reasonably incurred by the Backup Servicer in connection with a Servicing Transfer.

Transition Expenses means all reasonable cost and expenses (including Attorney Costs) incurred by the Backup Servicer in connection with transferring servicing obligations under this Agreement, which shall not exceed the cap established in the Backup Servicing Agreement or the Backup Servicing Fee Letter.

Transition Expenses means any documented costs and expenses (other than general overhead expenses) incurred by the Back-Up Servicer should it become the Successor Servicer as a direct consequence of the termination or resignation of the initial Servicer and the transition of the duties and obligations of the initial Servicer to the Successor Servicer.

Transition Expenses has the meaning given to such term in Section 7.14(d).

Transition Expenses. If the Backup Servicer has become the Successor Servicer, the sum of: (i) reasonable costs and expenses incurred by the Backup Servicer in connection with its assumption of the servicing obligations hereunder, related to travel, Obligor welcome letters, freight and file shipping plus (ii) a boarding fee equal to the product of $7.50 and the number of Contracts to be serviced. UCC: The Uniform Commercial Code as from time to time in effect in the applicable jurisdiction or jurisdictions.

Transition Expenses. As defined in the Servicing Agreement.

Transition Expenses means any documented expenses and costs reasonably incurred by the Successor Servicer in connection with the transition of servicing duties under the Transaction Documents to the Successor Servicer, which in the aggregate shall not exceed $100,000.