Common use of Market Servicing Fee Clause in Contracts

Market Servicing Fee. Notwithstanding anything to the contrary herein, in the event that a Successor Servicer is appointed, the Servicing Fee shall equal the market rate for comparable servicing duties to be fixed upon the date of such appointment by such Successor Servicer with the consent of the Agent; in the event that the Backup Servicer becomes the Successor Servicer, the Backup Servicer shall solicit three bids, with a copy to the Borrower and the Agent, from not less than three entities experienced in the servicing of loans similar to the Loans and that are not Affiliates of the Backup Servicer, the Servicer or the Borrower, and the Servicing Fee shall be equal to the average of the fees proposed as determined by the Backup Servicer with the consent of the Agent (the “Market Servicing Fee”).

Appears in 5 contracts

Samples: Loan Funding and Servicing Agreement (Kohlberg Capital CORP), Loan Funding and Servicing Agreement (Kohlberg Capital CORP), Loan Funding and Servicing Agreement (Patriot Capital Funding, Inc.)

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Market Servicing Fee. Notwithstanding anything to the contrary herein, in the event that a Successor Servicer is appointed, the Servicing Fee shall equal the market rate for comparable servicing duties to be fixed upon the date of such appointment by such Successor Servicer with the consent of the Deal Agent; in the event that the Backup Servicer becomes the Successor Servicer, the Backup Servicer shall solicit three bids, with a copy to the Borrower and the Deal Agent, from not less than three entities experienced in the servicing of loans similar to the Loans and that are not Affiliates of the Backup Servicer, the Servicer or the Borrower, and the Servicing Fee shall be equal to the average of the fees proposed as determined by the Backup Servicer with the consent of the Deal Agent (the “Market Servicing Fee”).

Appears in 3 contracts

Samples: Loan Funding and Servicing Agreement (American Capital Strategies LTD), Loan Funding and Servicing Agreement (American Capital Strategies LTD), Loan Funding and Servicing Agreement (American Capital Strategies LTD)

Market Servicing Fee. Notwithstanding anything to the contrary herein, in the event that a Successor Servicer is appointed, the Senior Servicing Fee shall equal the market rate for comparable servicing duties to be fixed upon the date of such appointment by such Successor Servicer with the consent of the Deal Agent; in the event that the Backup Servicer becomes the Successor Servicer, the Backup Servicer shall solicit three bids, with a copy to the Borrower and the Deal Agent, from not less than three entities experienced in the servicing of loans similar to the Loans and that are not Affiliates of the Backup Servicer, the Servicer or the Borrower, and the Senior Servicing Fee shall be equal to the average of the fees proposed as determined by the Backup Servicer with the consent of the Deal Agent (the “Market Servicing Fee”).

Appears in 1 contract

Samples: Loan Funding and Servicing Agreement (American Capital, LTD)

Market Servicing Fee. Notwithstanding anything to the contrary herein, in the event that a Successor Servicer is appointed, the Servicing Fee shall equal the market rate for comparable servicing duties to be fixed upon the date of such appointment by such Successor Servicer with the consent of the Deal Agent; in the event that the Backup Servicer becomes the Successor Servicer, the Backup Servicer shall solicit three (3) bids, with a copy to the Borrower and the Deal Agent, from not less than three (3) entities experienced in the servicing of loans similar to the Loans and that are not Affiliates of the Backup Servicer, the Servicer or the Borrower, and the Servicing Fee shall be equal to the average of the fees proposed as determined by the Backup Servicer with the consent of the Deal Agent (the “Market Servicing Fee”).

Appears in 1 contract

Samples: Loan Funding and Servicing Agreement (American Capital Strategies LTD)

Market Servicing Fee. Notwithstanding anything to the contrary herein, in the event that a Successor Servicer is appointed, the Servicing Fee shall equal the market rate for comparable servicing duties to be fixed upon the date of such appointment by such Successor Servicer with the consent of the Administrative Agent; in the event that the Backup Servicer becomes the Successor Servicer, the Backup Servicer shall solicit three (3) bids, with a copy to the Borrower and the Administrative Agent, from not less than three (3) entities experienced in the servicing of loans similar to the Pledged Loans and that are not Affiliates of the Backup Servicer, the Servicer or the Borrower, and the Servicing Fee shall be equal to the average of the fees proposed as determined by the Backup Servicer with the consent of the Administrative Agent (the “Market Servicing Fee”).

Appears in 1 contract

Samples: Credit Agreement (American Capital Strategies LTD)

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Market Servicing Fee. Notwithstanding anything to the contrary herein, in the event that a Successor successor Servicer is appointedappointed Servicer, the Servicing Fee shall equal the market rate for comparable servicing duties to be fixed upon the date of such appointment by such Successor successor Servicer and the Trustee with the consent of the Deal Agent; in the event that the Backup Servicer becomes the Successor successor Servicer, the Backup Servicer shall solicit three bids, with a copy to the Borrower and the Deal Agent, from not less than three entities experienced in the servicing of loans contracts similar to the Loans Contracts and that are not Affiliates of the Backup Servicer, the Servicer or the BorrowerSeller, and the Servicing Fee shall be equal to the average of the fees proposed as determined by the Backup Servicer and with the consent of the Deal Agent (the "Market Servicing Fee").

Appears in 1 contract

Samples: Receivables Purchase Agreement (American Business Financial Services Inc /De/)

Market Servicing Fee. Notwithstanding anything to the contrary herein, in the event that a Successor successor Servicer is appointedappointed Servicer, the Servicing Fee shall equal the market rate for comparable servicing duties to be fixed upon the date of such appointment by such Successor successor Servicer with the consent of the Deal Agent; in the event that the Backup Servicer becomes the Successor successor Servicer, the Backup Servicer shall solicit three bids, with a copy to the Borrower and the Deal Agent, from not less than three entities experienced in the servicing of loans similar to the Loans and that are not Affiliates of the Backup Servicer, the Servicer or the Borrower, and the Servicing Fee shall be equal to the average of the fees proposed as determined by the Backup Servicer with the consent of the Deal Agent (the "Market Servicing Fee").

Appears in 1 contract

Samples: Loan Funding and Servicing Agreement (American Capital Strategies LTD)

Market Servicing Fee. Notwithstanding anything to the contrary herein, in the event that a Successor Servicer is appointed, the Servicing Fee shall equal the market rate for comparable servicing duties to be fixed upon the date of such appointment by such Successor Servicer with the consent of the Agent; in the event that the Backup Servicer becomes the Successor Servicer, the Backup Servicer shall solicit three (3) bids, with a copy to the Borrower and the Agent, from not less than three (3) entities experienced in the servicing of loans similar to the Loans and that are not Affiliates of the Backup Servicer, the Servicer or the Borrower, and the Servicing Fee shall be equal to the average of the fees proposed as determined by the Backup Servicer with the consent of the Agent (the “Market Servicing Fee”).

Appears in 1 contract

Samples: Loan Funding and Servicing Agreement (American Capital Strategies LTD)

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