Loan Processing Services Fees Sample Clauses

Loan Processing Services Fees. 6.3.1 For the Loan Processing Services rendered for Loan disbursements occurring on or after February 1, 2012, FMC shall invoice to SunTrust on a monthly basis, and SunTrust shall pay to FMER fees (the “Loan Processing Fees”) equal to [**]% of the principal amount of the Disbursed Loan Amount. For Loan disbursements occurring on or after July 1, 2012, in the event the Disbursed Loan Amount for a year (from July 1 to June 30) exceeds [**] dollars ($[**]), FMC shall invoice to SunTrust on a monthly basis, and SunTrust shall pay to FMER a reduced Loan Processing Fee in the amount of [**]% of the principal amount of the Disbursed Loan Amount for the prior month after the Disbursed Loan Amount is greater than [**] dollars ($[**]) for the year (from July 1 to June 30). 6.3.2 Loan Processing Fees shall be invoiced monthly as agreed by the Parties from time to time. FMC’s invoice for FMER’s Loan Processing Services will state the number and amount of Loans disbursed during the month covered by the invoice.” (b) Section 6.4 of the Agreement is hereby amended and restated to read in its entirety as follows:

Loan Processing Services Fees. 6.3.1 For the Loan Processing Services rendered during the Term of this Agreement, FMC shall invoice to SunTrust on a monthly basis, and SunTrust shall pay to FMER fees (the “Loan Processing Fees”) equal to $[**] for each Underlying Loan, up to but no greater than four (4), included in each Configured Application for the prior month, plus [**]% of the principal amount of the Disbursed Loan Amount for the prior month. Such fees may be payable for the same Loan in different months, for example, if an Application is configured in May but Disbursement is in June. The fee for Configured Applications shall apply only the first time an Application is configured and not on subsequent configurations of the same Application. 6.3.2 Loan Processing Fees shall be invoiced monthly as agreed by the Parties from time to time and in an agreed upon format. FMC’s invoice for FMER’s Loan Processing Services will state the number and amount of Loans disbursed during the month covered by the invoice. FMC’s invoice shall contain the total number of Configured Applications and Disbursed Loan Amount covered by the invoice and the supporting documentation accompanying such invoice shall state the number of each Configured Application and number and dollar amount of each Underlying Loan(s). 6.3.3 FMER shall be responsible for all fees incurred by FMER in requesting credit bureau reports and related services through a service provider mutually agreed to by FMC and SunTrust. SunTrust shall take the necessary actions to cause such invoices to be forwarded to FMER for payment, and FMER shall timely pay such invoices in accordance with the requirements of the service provider or its billing agent.