Common use of Backup Servicing Fee; Backup Servicing Expenses Clause in Contracts

Backup Servicing Fee; Backup Servicing Expenses. (a) Prior to the Servicing Turnover Date, Borrower shall pay Backup Servicer the following fees: (i) a fee with respect to each Accounting Period, payable in arrears on each Settlement Date for the account of the Backup Servicer, in an amount equal to the greater of (a) the product of (I) one-twelfth of .05% and (II) the aggregate Principal Balances of all Pledged Contracts as of the last day of such Accounting Period and (b) $4,000; and (ii) each time that Backup Servicer test loads its system file and simulates a conversion of data, as provided in Section 6.15(a) hereof, a fee of $4,850.00 plus an additional $0.25 per account; provided that so long as no Incipient Servicer Default, Incipient Event of Termination, Servicer Default or Event of Termination has occurred and is continuing, Backup Servicer will not be required to test load its system file more than once in each 12 month period.

Backup Servicing Fee; Backup Servicing Expenses. (a) On the Effective Date, the Borrower shall pay to the Backup Servicer a one-time acceptance fee equal to $2,000. Prior to the Servicing Turnover Date, Borrower shall pay to the Backup Servicer the following fees: (i) a fee with respect to each Accounting Period, payable in arrears on each Settlement Date for the account of the Backup Servicerpursuant to Section 2.06 or 2.07, in an amount as applicable, a fee (not less than $5,000) equal to the greater of (a) the product of (Ix) one-twelfth of .05% two basis points (0.02%) and (IIy) the aggregate Principal Balances Balance of all Pledged Contracts as at the beginning of the last day of such Accounting Period and (b) $4,000; preceding calendar month and (ii) each time that Backup Servicer test loads its system file and simulates a conversion of data, as provided in Section 6.15(a) hereof, a fee of $4,850.00 plus an additional $0.25 per account; provided that so long as no Incipient Servicer Default, Incipient Event of Termination, Servicer Default or Event of Termination has occurred and is continuing, Backup Servicer will not be required to test load its system file more than once in each 12 month period.

Backup Servicing Fee; Backup Servicing Expenses. (a) On the Closing Date, the Borrower shall pay to the Backup Servicer a one-time acceptance fee equal to $2,000. Prior to the Servicing Turnover Date, Borrower shall pay to the Backup Servicer the following fees: (i) a fee with respect to each Accounting Period, payable in arrears on each Settlement Date for the account of the Backup Servicerpursuant to Section 2.06 or 2.07, in an amount as applicable, a fee (not less than $5,000) equal to the greater of (a) the product of (Ix) one-twelfth of .05% two basis points (0.02%) and (IIy) the aggregate Principal Balances Balance of all Pledged Contracts as at the beginning of the last day of such Accounting Period and (b) $4,000; preceding calendar month and (ii) each time that Backup Servicer test loads its system file and simulates a conversion of data, as provided in Section 6.15(a) hereof, a fee of $4,850.00 plus an additional $0.25 per account; provided that so long as no Incipient Servicer Default, Incipient Event of Termination, Servicer Default or Event of Termination has occurred and is continuing, Backup Servicer will not be required to test load its system file more than once in each 12 month period.

Backup Servicing Fee; Backup Servicing Expenses. (a) Prior to the Servicing Turnover Date, Borrower shall pay Backup Servicer the following fees: (i) a fee with respect to each Accounting Period, payable in arrears on each Settlement Date for the account of the Backup Servicer, in an amount equal to the greater of (a) the product of (I) one-twelfth of .05.08% and (II) the aggregate Principal Balances of all Pledged Contracts as of the last day of such Accounting Period and (b) $4,000; and (ii) each time that Backup Servicer test loads its system file and simulates a conversion of data, as provided in Section 6.15(a) hereof, a fee of $4,850.00 plus an additional $0.25 per account; provided that so long as no Incipient Servicer Default, Incipient Event of Termination, Servicer Default or Event of Termination has occurred and is continuing, Backup Servicer will not be required to test load its system file more than once in each 12 month period.

Backup Servicing Fee; Backup Servicing Expenses. (a) Prior to the Servicing Turnover Date, Borrower shall pay Backup Servicer the following fees: (i) a fee with respect to each Accounting Period, payable in arrears on each Settlement Date for the account of the Backup Servicer, in an amount equal to the greater of (a) the product of (I) one-twelfth of .05% and (II) the aggregate Principal Balances of all Pledged Contracts as of the last day of such Accounting Period and (b) $4,0002,000; and (ii) each time that Backup Servicer test loads its system file and simulates a conversion of data, as provided in Section 6.15(a) hereof, a fee of $4,850.00 plus an additional $0.25 per account; provided that so long as no Incipient Servicer Default, Incipient Event of Termination, Servicer Default or Event of Termination has occurred and is continuing, Backup Servicer will not be required to test load its system file more than once in each 12 month period.