Common use of Servicer Fees Clause in Contracts

Servicer Fees. In consideration of Xxxxxx’x agreement to act as Servicer hereunder, the Issuing Lenders and the Lenders hereby agree that, so long as Xxxxxx shall continue to perform as Servicer hereunder, Borrower shall pay over to Xxxxxx a fee (the “Servicer Fee”) on each Settlement Date (or, if such day is not a Business Day, then the next Business Day thereafter), in arrears for the immediately preceding month, in an amount equal to the product of the Servicer Fee Rate and the average aggregate Outstanding Balance of all Receivables during such period, as compensation for its servicing activities. Notwithstanding the foregoing, if the Servicer is replaced by the Administrative Agent, the successor Servicer shall receive a servicing fee in an amount agreed upon by the Administrative Agent and the successor Servicer which reflects the then prevailing market rates for servicing similar portfolios of receivables.

Servicer Fees. In consideration of Xxxxxx’x agreement to act as Servicer hereunder, the Issuing Lenders Lender and the Lenders hereby agree that, so long as Xxxxxx shall continue to perform as Servicer hereunder, Borrower shall pay over to Xxxxxx a fee (the “Servicer Fee”) on each Settlement Date (or, if such day is not a Business Day, then the next Business Day thereafter), in arrears for the immediately preceding month, in an amount equal to the product of the Servicer Fee Rate and the average aggregate Outstanding Balance of all Receivables during such period, as compensation for its servicing activities. Notwithstanding the foregoing, if the Servicer is replaced by the Administrative Agent, the successor Servicer shall receive a servicing fee in an amount agreed upon by the Administrative Agent and the successor Servicer which reflects the then prevailing market rates for servicing similar portfolios of receivables.

Servicer Fees. In consideration of Xxxxxx’x agreement to act as Servicer hereunder, the Issuing Lenders and the Lenders hereby agree that, so long as Xxxxxx shall continue to perform as Servicer hereunder, Borrower shall pay over to Xxxxxx a fee (the “Servicer Fee”) on each Settlement Date (or, if such day is not a Business Day, then the next Business Day thereafter), in arrears for the immediately preceding month, in an amount equal to the product of the Servicer Fee Rate and the average aggregate Outstanding Balance of all Receivables during such period, as compensation for its servicing activities. Notwithstanding the foregoing, if the Servicer is replaced by the Administrative Agent, the successor Servicer shall receive a servicing fee in an amount agreed upon by the Administrative Agent and the successor Servicer which reflects the then prevailing market rates for servicing similar portfolios of receivables.