Senior Servicing Fee means with respect to any Distribution Date, the senior fee payable to the Servicer or successor servicer (as applicable) for services rendered during the related Collection Period, which shall be equal to one-fourth of the product of (i) the Senior Servicing Fee Percentage multiplied by (ii) the average of the values of the Aggregate Eligible Collateral Obligation Amount on the first day and the last day of the related Collection Period.
Senior Servicing Fee. For each Payment Date, an amount equal to the sum of the products, for each day during the related Collection Period, of (i) the Outstanding Loan Balance of each Loan as of the preceding Determination Date, (ii) the applicable Servicing Fee Rate, and (iii) a fraction, the numerator of which is one and the denominator of which is 365 (or, with respect to a Collection Period, or the portion thereof, which occurs in a leap year, 366 days).
Senior Servicing Fee shall have the meaning provided in Section 5.11.
Examples of Senior Servicing Fee in a sentence
All Purchased Loan Proceeds standing to the credit of the Issuer Client Account at 4 p.m. (London time) on each Business Day (less the Senior Servicing Fee due and payable to the Platform Servicer in accordance with the Servicing Agreement) will be transferred on the same Business Day to the Issuer Transaction Account.
After such Payment Date, any Current Deferred Servicing Fee will be added to the cumulative amount of the Senior Servicing Fee or the Subordinated Servicing Fee, as applicable, which the Collateral Manager has elected to defer on prior Payment Dates and which has not been repaid (respectively, the “Cumulative Deferred Senior Servicing Fee” and the “Cumulative Deferred Subordinated Servicing Fee”).
To the extent the Senior Servicing Fee is not paid on any Payment Date when due, the Senior Servicing Fee shall be deferred and shall be payable on subsequent Payment Dates in accordance with the Priority of Payments, without interest.
More Definitions of Senior Servicing Fee
Senior Servicing Fee. Defined in Section 2.15(b).
Senior Servicing Fee means the fee payable to the Servicer on each Payment Date in arrears in respect of each Remittance Period, which fee shall be equal to the product of (i) 0.25%, (ii) the arithmetic mean of the aggregate Outstanding Balance of all Eligible Loan Assets on the first day and on the last day of the related Remittance Period and (iii) the actual number of days in such Remittance Period divided by 360; provided the rate set forth in clause (i) may hereof may be increased at the sole discretion of the Administrative Agent in the event that a Replacement Servicer (other than SMBC or an Affiliate thereof) is appointed pursuant to Section 6.01(c); provided further that, in the sole discretion of the Servicer, the Servicer may, from time to time, waive all or any portion of the Senior Servicing Fee payable on any Payment Date.
Senior Servicing Fee. The servicing fee payable to the Servicer on each Payment Date in arrears in respect of each Collection Period, which fee shall be equal to the product of (i) 0.15% if the Originator or any of its Affiliates is the Servicer, and otherwise 0.40%, (ii) the weighted average Aggregate Outstanding Loan Balance during the related Collection Period and (iii) the actual number of days in such Collection Period divided by 360.
Senior Servicing Fee means a fee to be paid by the Issuer to the Servicer in the amount equal to: (i) any Lease Incidental Collections, to the extent received by the Issuer in connection with the Lease Agreements originated by the Servicer; and (ii) [●] per cent. of the Aggregate Discounted Balance as at the end of the relevant Collection Period.
Senior Servicing Fee means 0.10% per annum of the aggregate principal balance of the Mortgages on the last day of the immediately preceding Collection Period, inclusive of value added tax.
Senior Servicing Fee means the fee payable to the Servicer on each Payment Date in arrears in respect of each Remittance Period, which fee shall be equal to the product of (i) 0.25%, (ii) the arithmetic mean of the aggregate Outstanding Balance of all Eligible Loan Assets on the first day and on the last day of the related Remittance Period and (iii) the actual number of days in such Remittance Period divided by 360; provided the rate set forth in clause (i) may hereof may be increased at the sole discretion of the Administrative Agent (in accordance with standard market rate increases for such services) in the event that a Replacement Servicer (other than CIBC or an Affiliate thereof) is appointed pursuant to Section 6.01(c); provided further that, in the sole discretion of the Servicer, the Servicer may, from time to time, waive all or any portion of the Senior Servicing Fee payable on any Payment Date.
Senior Servicing Fee means as of any Quarterly ----------------------- Distribution Date one-half of the Servicing Fee then due and payable.