Loan Servicing Fee. In consideration for the services being provided by Servicer in connection with servicing the Loan and, if applicable, enforcing the Loan Documents on behalf of the Lenders, Servicer will be entitled to receive a monthly Servicing Fee in the amount of 1/12th of [ %] of the unpaid principal amount outstanding at the end of each month for the term of the Loan, prorated for partial months (“Servicing Fee”). So long as no payment default exists under the Loan, the Servicing Fee shall be payable from interest payments received from the Borrower and will be deducted by the Servicer prior to delivery of each Lender’s pro-rata share thereof. To the extent payments received from the Borrower are insufficient to pay the full amount of any Servicing Fees payable to the Servicer pursuant to this Section 5.1, the Servicing Fee shall continue to accrue in favor of the Servicer unless and until the occurrence of a Transfer and Servicer may elect, at any time, and from time to time, to either: (i) allow any unpaid Servicing Fees to accrue and be paid from the future Loan Proceeds or Property Proceeds in accordance with Section 8.2; or (ii) assess the Lenders for any accrued but unpaid Servicing Fees pursuant to the assessment provisions of Section 6.2.
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Samples: L Oan Servicing and Equity Interest Agreement, Loan Servicing and Equity Interest Agreement, Loan Servicing and Equity Interest Agreement
