Common use of Backup Servicing Compensation Clause in Contracts

Backup Servicing Compensation. The monthly backup servicing fee (the “Monthly Backup Servicing Fee”) shall be payable to the Backup Servicer, in arrears, on each Distribution Date in respect of a Due Period (or portion thereof) occurring prior to the earliest of (i) the first Distribution Date following the Series Termination Date, (ii) the first Distribution Date on which no Series 2000-VFC Certificates are outstanding and (iii) the date on which the Backup Servicing Agreement terminates in accordance with the provisions thereof, in an amount equal to one-twelfth of the result of (a) the Base Backup Servicing Fee multiplied by (b) the Series 2000-VFC Allocation Percentage with respect to such Due Period. The Investor Backup Servicing Fee portion of the Monthly Backup Servicing Fee shall be paid in accordance with Section 4.04(a)(i) but only to the extent of funds available for such payment pursuant to Section 4.04(a)(i). The remainder of the Monthly Backup Servicing Fee shall be paid by the Seller and in no event shall the Master Trust, the Master Trust Trustee or the Series 2000-VFC Certificateholders be liable for the share of the Monthly Backup Servicing Fee to be paid by the Seller. The monthly Backup Servicing Expenses (the “Monthly Backup Servicing Expenses”) shall be payable to the Backup Servicer, in arrears, on each Distribution Date in respect of a Due Period (or portion thereof) occurring prior to the earliest of (i) the first Distribution Date following the Series Termination Date, (ii) the first Distribution Date on which no Series 2000-VFC Certificates are outstanding and (iii) the date on which the Backup Servicing Agreement terminates in accordance with the provisions thereof, in an amount equal to the result of (a) the Backup Servicing Expenses multiplied by (b) the Series 2000-VFC Allocation Percentage with respect to such Due Period. The Investor Backup Servicing Expenses portion of the Monthly Backup Servicing Expenses shall be paid in accordance with Section 4.04(a)(viiC) but only to the extent of funds available for such payment pursuant to Section 4.04(a)(viiC). The remainder of the Monthly Backup Servicing Expenses shall be paid by the Seller and in no event shall the Master Trust, the Master Trust Trustee or the Series 2000-VFC Certificateholders be liable for the share of the Monthly Backup Servicing Expenses to be paid by the Seller.

Appears in 2 contracts

Samples: Agreement (Navistar Financial Corp), Agreement (Navistar Financial Dealer Note Master Owner Trust)

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Backup Servicing Compensation. The monthly backup servicing fee (the “Monthly Backup Servicing Fee”) shall be payable to the Backup Servicer, in arrears, on each Distribution Date in respect of a Due Period (or portion thereof) occurring prior to the earliest of (i) the first Distribution Date following the Series Termination Date, (ii) the first Distribution Date on which no Series 2000-VFC Certificates Notes are outstanding and (iii) the date on which the Backup Servicing Agreement terminates in accordance with the provisions thereof, in an amount equal to one-twelfth of the result of (a) the Base Backup Servicing Fee multiplied by (b) the Series 2000-VFC Allocation Percentage for the Collateral Certificate with respect to such Due Period. The Investor Backup Servicing Fee A portion of the Monthly Backup Servicing Fee shall be allocated to each series of Notes in accordance with the related Indenture Supplement (the “Investor Backup Servicing Fee”), and such portion shall be paid in accordance with Section 4.04(a)(i) but such Indenture Supplement and only to the extent of funds available for such payment pursuant to Section 4.04(a)(i)such Indenture Supplement. The remainder of the Monthly Backup Servicing Fee shall be paid by the Seller and in no event shall the Master Trust, the Master Trust Trustee or the Series 20002004-VFC Certificateholders 1 Certificateholder be liable for the share of the Monthly Backup Servicing Fee to be paid by the Seller. The monthly Backup Servicing Expenses (the “Monthly Backup Servicing Expenses”) shall be payable to the Backup Servicer, in arrears, on each Distribution Date in respect of a Due Period (or portion thereof) occurring prior to the earliest of (i) the first Distribution Date following the Series Termination Date, (ii) the first Distribution Date on which no Series 2000-VFC Certificates Notes are outstanding and (iii) the date on which the Backup Servicing Agreement terminates in accordance with the provisions thereof, in an amount equal to the result of (a) the Backup Servicing Expenses multiplied by (b) the Series 2000-VFC Allocation Percentage for the Collateral Certificate with respect to such Due Period. The Investor Backup Servicing Expenses A portion of the Monthly Backup Servicing Expenses shall be allocated to each series of Notes in accordance with the related Indenture Supplement (the “Investor Servicing Expenses”), and such portion shall be paid in accordance with Section 4.04(a)(viiC) but such Indenture Supplement and only to the extent of funds available for such payment pursuant to Section 4.04(a)(viiC)such Indenture Supplement. The remainder of the Monthly Backup Servicing Expenses shall be paid by the Seller and in no event shall the Master Trust, the Master Trust Trustee or the Series 20002004-VFC Certificateholders 1 Certificateholder be liable for the share of the Monthly Backup Servicing Expenses to be paid by the Seller.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Navistar Financial Corp), Pooling and Servicing Agreement (Navistar Financial Dealer Note Master Owner Trust)

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Backup Servicing Compensation. The monthly backup servicing fee (the “Monthly Backup Servicing Fee”) shall be payable to the Backup Servicer, in arrears, on each Distribution Date in respect of a Due Period (or portion thereof) occurring prior to the earliest of (i) the first Distribution Date following the Series Termination Date, (ii) the first Distribution Date on which no Series 2000-VFC Certificates Notes are outstanding and outstanding, (iii) the date on which the Backup Servicing Agreement terminates in accordance with the provisions thereofthereof and (iv) the first Distribution Date following the 1995 Trust Termination Date, in an amount equal to one-twelfth of the result of (a) the Base Backup Servicing Fee multiplied by (b) the Series 2000-VFC Allocation Percentage for the Collateral Certificate with respect to such Due Period. The Investor Backup Servicing Fee A portion of the Monthly Backup Servicing Fee shall be allocated to each series of Notes in accordance with the related Indenture Supplement (the “Investor Backup Servicing Fee”), and such portion shall be paid in accordance with Section 4.04(a)(i) but such Indenture Supplement and only to the extent of funds available for such payment pursuant to Section 4.04(a)(i)such Indenture Supplement. The remainder of the Monthly Backup Servicing Fee shall be paid by the Seller and in no event shall the Master Trust, the Master Trust Trustee, the Series 2011-1 Certificateholder, the Issuing Entity, the Indenture Trustee or the Series 2000-VFC Certificateholders Owner Trustee be liable for the share of the Monthly Backup Servicing Fee to be paid by the Seller. The monthly Backup Servicing Expenses (the “Monthly Backup Servicing Expenses”) shall be payable to the Backup Servicer, in arrears, on each Distribution Date in respect of a Due Period (or portion thereof) occurring prior to the earliest of (i) the first Distribution Date following the Series Termination Date, (ii) the first Distribution Date on which no Series 2000-VFC Certificates Notes are outstanding and outstanding, (iii) the date on which the Backup Servicing Agreement terminates in accordance with the provisions thereofthereof and (iv) the first Distribution Date following the 1995 Trust Termination Date, in an amount equal to the result of (a) the amount of such Backup Servicing Expenses multiplied by (b) the Series 2000-VFC Allocation Percentage for the Collateral Certificate with respect to such Due Period. The Investor Backup Servicing Expenses A portion of the Monthly Backup Servicing Expenses shall be allocated to each series of Notes in accordance with the related Indenture Supplement (the “Investor Servicing Expenses”), and such portion shall be paid in accordance with Section 4.04(a)(viiC) but such Indenture Supplement and only to the extent of funds available for such payment pursuant to Section 4.04(a)(viiC)such Indenture Supplement. The remainder of the Monthly Backup Servicing Expenses shall be paid by the Seller and in no event shall the Master Trust, the Master Trust Trustee, the Series 2011-1 Certificateholder, the Issuing Entity, the Indenture Trustee or the Series 2000-VFC Certificateholders Owner Trustee be liable for the share of the Monthly Backup Servicing Expenses to be paid by the Seller.. ARTICLE IV RIGHTS OF SERIES 2011-1 CERTIFICATEHOLDER AND ALLOCATION AND APPLICATION OF COLLECTIONS

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Navistar International Corp)

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