Yield and Servicing Reserve definition

Yield and Servicing Reserve means, on any date, an amount equal to (x) 1.50% multiplied by (y) the Net Receivables Balance as of the close of business of Servicer on such date. All accounting terms not specifically defined herein shall be construed in accordance with GAAP. All terms used in Article 9 of the UCC in the State of New York, and not specifically defined herein, are used herein as defined in such Article 9. EXHIBIT II-A FORM OF PURCHASE NOTICE [Date] The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch, as Administrative Agent 1251 Avenue of the Xxxxxxxx, 00xx Xxxxx Xxx Xxxx, Xxx Xxxx 00000 Attention: [ ] Re: PURCHASE NOTICE Ladies and Gentlemen: Reference is hereby made to the Receivables Purchase Agreement dated as of December 18, 2013, by and among MPC Trade Receivables Company LLC, a Delaware limited liability company (“Seller”), Marathon Petroleum Company LP, a Delaware limited partnership, as Servicer, the entities from time to time party thereto as Conduit Purchasers, the entities from time to time party thereto as Committed Purchasers, the entities from time to time party thereto as Managing Agents and The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch, as Administrative Agent (as amended, restated, supplemented or otherwise modified from time to time, the “Receivables Purchase Agreement”). Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Receivables Purchase Agreement. The Administrative Agent and each Managing Agent is hereby notified of the following Incremental Purchase: Purchase Price: $ 1 Date of Purchase: $ Requested Interest Rate: [Adjusted LIBO Rate] [Alternate Base Rate] [Pooled Commercial Paper rate] [Tranche Funded Commercial Paper rate] Requested Tranche Period (if applicable): Each Managing Agent should wire-transfer its related Purchase Group Share of the Purchase Price in immediately available funds on the above-specified date of purchase to: 1 Must be at least $5,000,000 MPC Trade Receivables Company LLC [PNC Bank, National Association] [500 First Avenue] [Pittsburgh, PA 15219] [Reference: ] Please advise [Name] at telephone no ( ) if the Conduit Purchaser(s) in your Purchase Group will not be making this purchase. In connection with the Incremental Purchase to be made on the above listed “Date of Purchase” (the “Purchase Date”), Seller hereby certifies that the following statements are true on the date hereof:
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Yield and Servicing Reserve means, on any date, an amount equal to 2% multiplied by Aggregate Capital as of the close of business of the Servicer on such date.
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Yield and Servicing Reserve means, on any date, an amount equal to the sum of:
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More Definitions of Yield and Servicing Reserve

Yield and Servicing Reserve means, on any date, an amount equal to (x) 1.50% multiplied by (y) the Net Receivables Balance as of the close of business of Servicer on such date. All accounting terms not specifically defined herein shall be construed in accordance with GAAP. All terms used in Article 9 of the UCC in the State of New York, and not specifically defined herein, are used herein as defined in such Article 9. EXHIBIT II-A FORM OF PURCHASE NOTICE [Date] JPMorgan Chase Bank, N.A., as Administrative Agent 00 X. Xxxxxxxx Chicago, Illinois 60603-0596 Attention: Asset Backed Securities Conduit Group Re: PURCHASE NOTICE Ladies and Gentlemen: Reference is hereby made to the Receivables Purchase Agreement, dated as of July 1, 2011, by and among MPC Trade Receivables Company LLC, a Delaware limited liability company (“Seller”), Marathon Petroleum Company LP, a Delaware limited partnership, as Servicer, the entities from time to time party thereto as Conduit Purchasers, the entities from time to time party thereto as Committed Purchasers, the entities from time to time party thereto as Managing Agents and JPMorgan Chase Bank, N.A., as Administrative Agent (as amended, restated, supplemented or otherwise modified from time to time, the “Receivables Purchase Agreement”). Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Receivables Purchase Agreement. The Administrative Agent and each Managing Agent is hereby notified of the following Incremental Purchase: Purchase Price: $ 1 Date of Purchase:
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Yield and Servicing Reserve means, on any date, an amount equal to (x) 1.50% multiplied by (y) the Net Receivables Balance as of the close of business of Servicer on such date. All accounting terms not specifically defined herein shall be construed in accordance with GAAP. All terms used in Article 9 of the UCC in the State of New York, and not specifically defined herein, are used herein as defined in such Article 9. Exh. I-32 EXHIBIT C Performance Undertaking Exh.-C-1 CONFORMED COPY – NOT EXECUTED IN THIS FORM Incorporating that certain Omnibus Amendment No. 1 to Second Amended and Restated Receivables Sale Agreement, Receivables Purchase Agreement, and Performance Undertaking, dated as of October 1, 2020 PERFORMANCE UNDERTAKING This Performance Undertaking (as further amended, restated, supplemented or otherwise modified from time to time, this “Undertaking”), dated as of December 18, 2013, is executed by Marathon Petroleum Corporation, a Delaware corporation (the “Performance Guarantor”) in favor of MPC Trade Receivables Company LLC (together with its successors and assigns, “Recipient”).
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Yield and Servicing Reserve means, on any date, an amount equal to (x) 1.50% multiplied by (y) the Net Receivables Balance as of the close of business of Servicer on such date. All accounting terms not specifically defined herein shall be construed in accordance with GAAP. All terms used in Article 9 of the UCC in the State of New York, and not specifically defined herein, are used herein as defined in such Article 9.
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Yield and Servicing Reserve means, at any time, an amount equal to 2.0% multiplied by the Net Receivables Balance as of the close of business of the Servicer on such date.
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Yield and Servicing Reserve means, on any date, an amount equal to the Effective Yield and Servicing Reserve Percentage multiplied by Aggregate Capital as of the close of business of the Servicer on such date.
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Yield and Servicing Reserve means, at any time, an amount equal to 2.0% multiplied by the Net Receivables Balance as of the close of business of the Servicer on such date. All accounting terms not specifically defined herein shall be construed in accordance with GAAP. All terms used in Article 9 of the UCC in the State of Illinois, and not specifically defined herein, are used herein as defined in such Article 9. SCHEDULE A COMMITMENTS FINANCIAL INSTITUTION COMMITMENT Bank One, NA (Main Office Chicago) $ 75,000,000 TOTAL COMMITMENTS $ 75,000,000 SCHEDULE B CLOSING DOCUMENTS
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Related to Yield and Servicing Reserve

  • Servicing Reserve means, for any Calculation Period, the product (expressed as a percentage) of (a) the Servicing Fee Rate, times (b) a fraction, the numerator of which is the highest Days Sales Outstanding for the most recent 12 Calculation Periods and the denominator of which is 360.

  • Yield Reserve means, on any date, an amount equal to: (a) the Capital at the close of business of the Servicer on such date multiplied by (b)(i) the Yield Reserve Percentage on such date divided by (ii) 100% minus the Yield Reserve Percentage on such date.

  • Reserve Account Draw Amount means, for any Payment Date, an amount equal to the lesser of (a) the Available Funds Shortfall Amount, if any, for such Payment Date and (b) the amount of cash or other immediately available funds on deposit in the Reserve Account (excluding any net investment earnings) on such Payment Date; provided, however, that if such Payment Date is the Redemption Date, the “Reserve Account Draw Amount” shall mean an amount equal to the amount of cash or other immediately available funds on deposit in the Reserve Account on the Redemption Date.

  • Yield Supplement Account means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Master Servicer Advance Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Servicing Rate means 1.00% per annum.

  • Master Servicer Remittance Amount With respect to each Master Servicer and each Master Servicer Remittance Date, an amount equal to (a) all amounts on deposit in such Master Servicer’s Collection Account as of 11:00 a.m., New York City time, on such Master Servicer Remittance Date, net of (b) any portion of the amounts described in clause (a) of this definition that represents one or more of the following: (i) collected Monthly Payments with respect to any Mortgage Loan serviced by such Master Servicer that are due on a Due Date following the end of the related Collection Period, (ii) to the extent not covered by clause (i) above, any payments of principal (including Principal Prepayments) and interest, Insurance Proceeds, Condemnation Proceeds and Liquidation Proceeds Received by the Trust with respect to any Mortgage Loan or REO Property serviced by such Master Servicer after the end of the related Collection Period, (iii) any Prepayment Premiums and/or Yield Maintenance Charges Received by the Trust with respect to any Mortgage Loan or successor REO Mortgage Loan serviced by such Master Servicer with respect thereto after the end of the related Collection Period, (iv) any Excess Liquidation Proceeds, (v) any amounts payable or reimbursable to any Person from such Collection Account pursuant to clauses (ii) through (xxii) of Section 3.05(a), and (vi) any amounts deposited in such Collection Account in error; provided that the Master Servicer Remittance Amount with respect to such Master Servicer for the Master Servicer Remittance Date that occurs in the same calendar month as the anticipated Final Distribution Date shall be calculated without regard to clauses (b)(i), (b)(ii), (b)(iii) and (b)(iv) of this definition.

  • Subservicing Account An account established by a Subservicer in accordance with Section 3.08.

  • Servicer Advance Date As to any Distribution Date, 11:30 a.m., Eastern time, on the Business Day immediately preceding such Distribution Date.

  • Servicing Portfolio means, as to any Person, the unpaid principal balance of Mortgage Loans serviced by that Person under Servicing Contracts, minus the principal balance of all Mortgage Loans that are serviced by that Person for others under subservicing arrangements.

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

  • Mortgage Loan Remittance Rate With respect to each Mortgage Loan, the annual rate of interest remitted to the Purchaser, which shall be equal to the Mortgage Interest Rate minus the Servicing Fee Rate.

  • 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.”

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

  • Master Servicer Remittance Date With respect to any Distribution Date, the Business Day immediately preceding such Distribution Date.

  • Servicing Account The account or accounts created and maintained pursuant to Section 3.09.

  • Sub-Servicing Account An account established by a Sub-Servicer which meets the requirements set forth in Section 3.08 and is otherwise acceptable to the Master Servicer.

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).

  • Initial Reserve Account Deposit Amount means an amount equal to $29,411,740.05.

  • Servicing Accounts The account or accounts created and maintained pursuant to Section 3.08.

  • 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.

  • Servicing Bank means the Agent or the Security Trustee;

  • Required Servicer Rating means, with respect to the Servicer, that the then short-term unsecured debt obligations of the Servicer are rated at least equal to P-1 by Moody's, and A-1 by Standard & Poor's.

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Operating Reserve means generation capacity or load reduction capacity which can be called upon on short notice by either Party to replace scheduled energy supply which is unavailable as a result of an unexpected outage or to augment scheduled energy as a result of unexpected demand or other contingencies.

  • BAseries Servicer Interchange means, with respect to any Monthly Period, an amount equal to the product of (a) the Servicer Interchange (as such term is defined in the Series 2001-D Supplement) with respect to such Monthly Period and (b) a fraction the numerator of which is the Weighted Average Available Funds Allocation Amount for the BAseries for such Monthly Period and the denominator of which is the Weighted Average Available Funds Allocation Amount for all series of Notes for such Monthly Period.