Standby Fee definition

Standby Fee has the meaning defined in Section 2.7.

Standby Fee. With respect to each Mortgage Loan and each REO Loan, the fee designated as such and payable to the Special Servicer pursuant to the second paragraph of Section 3.11(c).

Standby Fee means, for any month, an amount equal to the product obtained by multiplying: (i) 1/12, by (ii) 12.5 basis points, by (iii) the Unused Capacity for such month.

Examples of Standby Fee in a sentence

• The aggregate amount of the Standby Fee paid to the Standby Servicer with respect to the Collection Period set forth above.

• ERCOT shall pay Participant the Hourly Standby Fee as described below, except as specified otherwise in Section 7 above.

• If a Black Start Resource does not remain certified, or if it is in default as described in Section 10.A(2)(e) during the term of this Agreement, then the Hourly Standby Fee is reduced to zero for the remainder of the Full Term, and Participant shall refund to ERCOT any amounts paid by ERCOT under this Agreement during the Full Term.

• If the Black Start Resource successfully passes the second Black Start Resource Availability Test, the QSE representing the Black Start Resource shall resume receipt of the Hourly Standby Fee beginning on the date of the successful Black Start Resource Availability Test.

• In addition, ERCOT shall claw-back all Hourly Standby Fee payments made to the QSE representing the Black Start Resource since its last successful Black Start Resource Availability Test or its last successful start and operation under normal system conditions, whichever is later.

More Definitions of Standby Fee

Standby Fee has the meaning set out in Section 3.2(a).

Standby Fee has the meaning ascribed thereto in the Program Fee Side Letter;

Standby Fee means a charge, other than a tax, imposed on undeveloped property for the availability of potable water, sanitary sewer, or drainage facilities and services.

Standby Fee meaxx xxx xxx payable to the Standby Servicer so long as CPS is the Servicer, on each Payment Date in an amount equal to one-twelfth of 0.06% of the aggregate outstanding principal amount of the Securities on the last day of the second preceding Collection Period; provided, however, that on the first Payment Date the Trustee will be entitled to receive an amount equal to the product of (i) the percentage equivalent of a fraction the numerator of which is the number days from the Closing Date to but excluding the first Payment Date and the denominator of which is 360, (ii) 0.06% and (iii) the aggregate outstanding principal amount of the Securities as of the Closing Date.

Standby Fee means the fee payable to the Standby Servicer so long as CPS is the Servicer calculated in the same manner, on the same basis and for the same period as the Servicing Fee is calculated pursuant to Section 3.8 based on a rate of 0.08% per annum rather than the Servicing Rate.

Standby Fee has the meaning given to such term in Article 2. (Standby fee) of the Finance Fee Letter.

Standby Fee has the meaning specified in Section 3.5;