Common use of Servicing Compensation Clause in Contracts

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2018-8 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

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Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182002-8 CC Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Floating Allocation Amount as of the last day of for the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"); provided, however, with respect to the first Distribution Date, the Monthly Servicing Fee shall be equal to the product of (i) the Servicing Base Amount for the first Monthly Period, (ii) the Servicing Fee Rate and (iii) a fraction, the numerator of which is 22 and the denominator of which is 360. On each Distribution Date, but only if a Transferor or The Bank of New York is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A Series 2002-CC Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the “Class A "Certificateholder Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, Net Servicing Fee Rate and (b) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Certificateholder Servicing Fee Rate and shall be equal to the product of (ci) the Servicing Base Amount. The share of Amount for the first Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date Period, (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (aii) the Class B Floating Percentage, (b) the Net Servicing Fee Rate and (ciii) a fraction, the Servicing Base Amount. The share numerator of which is 22 and the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth denominator of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amountwhich is 360. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182002-8 CC Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders Certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Capital One Master Trust), Pooling and Servicing Agreement (Capital One Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2018-8 9 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 9 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 9 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182023-8 3 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182023-8 3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182023-8 3 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182017-8 5 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182017-8 5 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182017-8 5 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182017-8 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182017-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182017-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182021-8 1 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182021-8 1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182021-8 1 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182002-8 CC Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Floating Allocation Amount as of the last day of for the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”); provided, however, with respect to the first Distribution Date, the Monthly Servicing Fee shall be equal to the product of (i) the Servicing Base Amount for the first Monthly Period, (ii) the Servicing Fee Rate and (iii) a fraction, the numerator of which is 22 and the denominator of which is 360. On each Distribution Date, but only if a Transferor or The Bank of New York Mellon is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A Series 2002-CC Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the “Class A Certificateholder Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, Net Servicing Fee Rate and (b) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Certificateholder Servicing Fee Rate and shall be equal to the product of (ci) the Servicing Base Amount. The share of Amount for the first Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date Period, (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (aii) the Class B Floating Percentage, (b) the Net Servicing Fee Rate and (ciii) a fraction, the Servicing Base Amount. The share numerator of which is 22 and the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth denominator of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amountwhich is 360. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182002-8 CC Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders Certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Capital One Master Trust), Pooling and Servicing Agreement (Capital One Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182023-8 4 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182023-8 4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182023-8 4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2018-8 2 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182019-8 1 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182019-8 1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182019-8 1 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182022-8 4 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182022-8 4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182022-8 4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2018-8 6 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 6 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 6 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182017-8 1 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182017-8 1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182017-8 1 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182017-8 7 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182017-8 7 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182017-8 7 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2018-8 7 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 7 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 7 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182000-8 3 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, (or, in the case of the first Distribution Date, the product of (x) the actual number of days from and including the Closing Date to and including May 31, 2000, divided by 365, (y) the Servicing Fee Rate and (z) the Initial Invested Amount) minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182000-8 3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182000-8 3 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust), Pooling and Servicing Agreement (American Express Centurion Bank)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182017-8 6 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182017-8 6 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182017-8 6 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182024-8 1 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182024-8 1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182024-8 1 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2018-8 1 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 1 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182001-8 Certificateholders 1 with respect to any Distribution Date (shall be paid from Servicer Interchange and the Monthly Servicing Fee”) . The "MONTHLY SERVICING FEE" shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount”); provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class "CLASS A Servicing Fee”SERVICING FEE") shall be equal to one-twelfth of the product of (aA) the Class A Floating Percentage, (bB) the Net Servicing Fee Rate and (cC) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class "CLASS B Servicing Fee”SERVICING FEE") shall be equal to one-twelfth of the product of (a1) the Class B Floating Percentage, (b2) the Net Servicing Fee Rate and (c3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the “Collateral Servicing Fee”"COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the (a) Collateral Floating Percentage, (b2) the Net Servicing Fee Rate and (c3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2001-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holders Holder of the Transferor Certificates Seller Certificate or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee Trustee, the Series 2001-1 Certificateholders or the Series 2018-8 Certificateholders Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holders Holder of the Transferor Certificates Seller Certificate or the investor certificateholders Certificateholders of any other Series. To the extent that the The (I) Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect 16 21 thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor CertificatesSECTION 4.05(c)(i) or 4.07(f).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (National City Credit Card Master Trust), Pooling and Servicing Agreement (National City Credit Card Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2018-8 20[__]-[_] Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 20[__]-[_] Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 20[__]-[_] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182022-8 3 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182022-8 3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182022-8 3 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182019-8 3 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182019-8 3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182019-8 3 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182024-8 2 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182024-8 2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182024-8 2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182017-8 4 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182017-8 4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182017-8 4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182017-8 3 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182017-8 3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182017-8 3 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2018-8 4 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2018-8 5 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 5 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 5 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182000-8 Certificateholders 1 with respect to any Distribution Date (shall be paid from Servicer Interchange and the Monthly Servicing Fee”) . The "MONTHLY SERVICING FEE" shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount”); provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $612,500.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class "CLASS A Servicing Fee”SERVICING FEE") shall be equal to one-twelfth of the product of (aA) the Class A Floating Percentage, (bB) the Net Servicing Fee Rate and (cC) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $535,937.50. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class "CLASS B Servicing Fee”SERVICING FEE") shall be equal to one-twelfth of the product of (a1) the Class B Floating Percentage, (b2) the Net Servicing Fee Rate and (c3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $36,750.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the “Collateral Servicing Fee”"COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the (a) Collateral Floating Percentage, (b2) the Net Servicing Fee Rate and (c3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $39,812.50. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2000-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holders Holder of the Transferor Certificates Seller Certificate or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee Trustee, the Series 2000-1 Certificateholders or the Series 2018-8 Certificateholders Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holders Holder of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.Seller

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (National City Credit Card Master Trust), Pooling and Servicing Agreement (National City Credit Card Master Trust)

Servicing Compensation. The share of the Servicing Fee ---------------------- allocable to the Series 20181998-8 1 Certificateholders and the Class C Interest Holders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount Amount, if any, as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"); provided, however, with -------- ------- respect to the first Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be equal to the Servicing Fee accrued on the Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date. On each Distribution Date, but only if the Seller or The Bank of New York is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that -------- ------- with respect to the first Distribution Date, the Class A Servicing Fee shall be equal to the product of the Class A Floating Percentage as of the first Distribution Date and the Initial Servicing Fee, and provided further, that with -------- ------- respect to the first Distribution Date following the Monthly Period in which an Additional Issuance Date occurs the Class A Servicing Fee shall be increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is the actual number of days in the period from and including such Additional Issuance Date to but excluding such Distribution Date and the denominator of which is 360, (c) the increase in the Invested Amount as a result of such Additional Issuance and (d) the Class A Floating Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that -------- ------- with respect to the first Distribution Date, the Class B Servicing Fee shall be equal to product of the Class B Floating Percentage as of the first Distribution Date and the Initial Servicing Fee, and provided, further, that with respect to -------- ------- the first Distribution Date following the Monthly Period in which an Additional Issuance Date occurs, the Class B Servicing Fee shall be increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is the actual number of days in the period from and including such Additional Issuance Date to but excluding such Distribution Date and the denominator of which is 360, (c) the increase in the Invested Amount as a result of such Additional Issuance and (d) the Class B Floating Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.Class

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Capital One Master Trust), Pooling and Servicing Agreement (Capital One Financial Corp)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2018-8 3 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 3 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182019-8 4 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182019-8 4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182019-8 4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182024-8 3 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182024-8 3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182024-8 3 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182000-8 4 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, (or, in the case of the first Distribution Date, the product of (x) the actual number of days from and including the Closing Date to and including June 22, 2000, divided by 365, (y) the Servicing Fee Rate and (z) the Initial Invested Amount) minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182000-8 4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182000-8 4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Centurion Bank), Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182019-8 2 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182019-8 2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182019-8 2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182022-8 2 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182022-8 2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182022-8 2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC), Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. The monthly servicing fee (the "Monthly Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Collection Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Series 1996-2 Termination Date and the first Distribution Date on which the Invested Amount is zero, in an amount equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) the Series 1996-2, Allocation Percentage of the Pool Balance as of the last day of the second Collection Period preceding such Distribution Date (or with respect to the first Distribution Date, as of the Series Cut-Off Date). The share of the Servicing Fee allocable to the Series 20181996-8 2 Certificateholders with respect to any Distribution Date (the "Certificateholders Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Collection Period second preceding such Distribution Date minus (ii) the product of the amountDate; provided, if anyhowever, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage that with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as first Distribution Date, the “Servicing Base Amount”). The share of the Certificateholders Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount$[ ]. The remainder of the Monthly Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) Seller and in no event shall the Trust, the Trustee or the Series 20181996-8 2 Certificateholders be liable for the share of the Monthly Servicing Fee to be paid by the Seller; and the remainder of the Servicing Fee shall be paid by the Seller and the Investor Certificateholders of other Series and the Series 1996-2 Certificateholders shall in no event be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Seller or the investor certificateholders Investor Certificateholders of any other Series. To The Certificateholders Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in accordance with the terms of this Series Supplement. The Servicer will be permitted, in its sole discretion, to waive the Monthly Servicing Fee for any Distribution Date by notice to the Trustee on or before the related Determination Date; provided that the Class A Servicer believes that sufficient Collections of Non-Principal Receivables will be available on any future Distribution Date to pay the Certificateholders Monthly Servicing Fee relating to the waived Monthly Servicing Fee. If the Servicer so waives the Monthly Servicing Fee for any Distribution Date, the Class B Monthly Servicing Fee and the Collateral Certificateholders Monthly Servicing Fee are not paid in full pursuant for such Distribution Date shall be deemed to the preceding provisions be zero for all purposes of this Section 3.01Series Supplement and the Agreement; provided, and Sections 4.05 and 4.07however, they shall be paid by the Holders of the Transferor Certificates.that such

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ford Credit Auto Receivables Corp)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182008-8 7 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182008-8 7 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.Base

Appears in 1 contract

Samples: Pooling and Servicing Agreement Supplement (American Express Credit Account Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182001-8 Certificateholders A Holders with respect to any Distribution Date (the "Monthly Servicing Fee”) "), shall be equal to one-twelfth of the product of (ai) the Servicing Fee Rate and (b) (iii) the Adjusted Invested Amount Amount, if any, as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (bii) is referred to as the "Servicing Base Amount"); provided, however, with respect to the April 2001 Distribution Date, the Monthly Servicing Fee shall be $1,410,750. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee”) "), shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the April 2001 Distribution Date, the Class A Servicing Fee shall be $1,175,625. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee”) "), shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the April 2001 Distribution Date, the Class B Servicing Fee shall be $99,750. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "Collateral Servicing Fee”) "), shall be equal to one-twelfth of the product of the (a) the Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of ; provided, however, that with respect to the April 2001 Distribution Date, the Collateral Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in $135,375. In no event shall the Trust, the Trustee Trustee, or the Series 20182001-8 Certificateholders A Holders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.by

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Fleet Credit Card Master Trust Ii)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20181999-8 Certificateholders D Holders with respect to any Distribution Date (the "Monthly Servicing Fee”) "), shall be equal to one-twelfth of the product of (ai) the Servicing Fee Rate and (b) (iii) the Adjusted Invested Amount Amount, if any, as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (bii) is referred to as the "Servicing Base Amount"); provided, however, with respect to the September 1999 Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be $375,000. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee”) "), shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the December 1999 Distribution Date, the Class A Servicing Fee shall be $305,625. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee”) "), shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the December 1999 Distribution Date, the Class B Servicing Fee shall be $28,125. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "Collateral Servicing Fee”) "), shall be equal to one-twelfth of the product of the (a) the Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of ; provided, however, that with respect to the December 1999 Distribution Date, the Collateral Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in $41,250. In no event shall the Trust, the Trustee or the Series 2018-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.the

Appears in 1 contract

Samples: Series 1999 D Supplement (Fleet Bank National Association /Ri/)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182012-8 2 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182012-8 2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182012-8 2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The monthly servicing fee (the "Monthly Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Collection Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Invested Amount is zero, in an amount equal to the product of (a) the Servicing Fee Rate, (b) the Pool Balance as of the last day of the Collection Period second preceding such Distribution Date and (c) the Series 2001-A Allocation Percentage with respect to the immediately preceding Collection Period. The share of the Monthly Servicing Fee allocable to the Series 20182001-8 A Certificateholders with respect to any Distribution Date (the "Certificateholders Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Collection Period second preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base AmountDate. The remainder of the Monthly Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) Seller and in no event shall the Trust, the Trustee or the Series 20182001-8 A Certificateholders be liable for the share of the Monthly Servicing Fee to be paid by the Seller; and the remainder of the Servicing Fee shall be paid by the Seller and the Investor Certificateholders of other Series and the Series 2001-A Certificateholders shall in no event be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Seller or the investor certificateholders Investor Certificateholders of any other Series. To The Certificateholders Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in accordance with the terms of this Series Supplement. The Servicer will be permitted, in its sole discretion, to waive all or any portion of the Monthly Servicing Fee for any Distribution Date by notice to the Trustee on or before the related Determination Date; provided that the Class A Servicer believes that sufficient Collections of Non-Principal Receivables will be available on any future Distribution Date to pay the Certificateholders Monthly Servicing Fee relating to the waived Monthly Servicing Fee. If the Servicer so waives all or any portion of the Monthly Servicing Fee for any Distribution Date, the Class B Monthly Servicing Fee and the Collateral Certificateholders Monthly Servicing Fee for such Distribution Date shall be deemed to be reduced by the amount so waived for all purposes of this Series Supplement and the Agreement; provided, however, that such Certificateholders Monthly Servicing Fee shall be paid on a future Distribution Date solely to the extent amounts are not paid in full available therefor pursuant to Section 4.10(b); provided, further, that, to the preceding provisions extent any such waived Certificateholders Monthly Servicing Fee is so paid, the related portion of this Section 3.01, and Sections 4.05 and 4.07, they the Monthly Servicing Fee to be paid by the Seller shall be paid by the Holders of Seller to the Transferor CertificatesServicer.

Appears in 1 contract

Samples: Series 2001 a Supplement (Daimlerchrysler Wholesale Receivables LLC)

Servicing Compensation. A monthly servicing fee (the "Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of the prior Due Period (or portion thereof) occurring before the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Series [ ] Invested Amount is zero, in the aggregate amount specified below. On each Distribution Date, Servicer Interchange with respect to the related Due Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Servicing Fee payable by the Series [ ] Certificateholders with respect to such Due Period. The share of the Servicing Fee allocable to the Series 2018-8 [ ] Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Series [ ] Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Net Servicing Fee Rate and (b) (i) the Adjusted Series [ ] Invested Amount as of the last day of the Monthly Due Period second preceding such Distribution Date minus (ii) the product of the amountDate; provided, if anyhowever, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as first Distribution Date, the “Servicing Base Amount”). The share of the Series [ ] Monthly Servicing Fee allocable shall be equal to the Class A Certificateholders Servicing Fee accrued on the Series [ ] Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months. On each Distribution Date, the Banks shall pay a portion of the Servicing Fee with respect to any Distribution Date (the “Class A Servicing Fee”) shall be related Due Period in an amount equal to one-twelfth of the product of (a) the Class A Floating PercentageServicing Fee Rate, (b) the Servicing Fee Rate Sellers' Participation Amount as of the last day of the Due Period second preceding such Distribution Date (or, if a Lump Addition occurs or a removal of Accounts pursuant to Section 2.10 of the Agreement occurs in the following Due Period, the weighted average of the Sellers' Participation Amount on the date on which such Lump Addition or removal of Accounts occurs (after giving effect thereto) and the last day of the second preceding Due Period) and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in [ ] Allocation Percentage for the related Supplements) and in Due Period. In no event shall the Trust, the Trustee or the Series 2018-8 [ ] Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of Banks. The (i) Series [ ] Monthly Servicing Fee shall be payable to the Transferor Certificates or the investor certificateholders of any other Series. To Servicer solely to the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee amounts are not paid in full available for distribution pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.02(a)(i).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citibank Nevada National Association)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182011-8 2 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182011-8 2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.Base

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The monthly servicing fee (the "Monthly Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Collection Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Invested Amount is zero, in an amount equal to the product of (a) the Servicing Fee Rate, (b) the Pool Balance as of the last day of the Collection Period second preceding such Distribution Date and (c) the Series 2000-B Allocation Percentage with respect to the immediately preceding Collection Period. The share of the Monthly Servicing Fee allocable to the Series 20182000-8 B Certificateholders with respect to any Distribution Date (the "Certificateholders Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Collection Period second preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base AmountDate. The remainder of the Monthly Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) Seller and in no event shall the Trust, the Trustee or the Series 20182000-8 B Certificateholders be liable for the share of the Monthly Servicing Fee to be paid by the Seller; and the remainder of the Servicing Fee shall be paid by the Seller and the Investor Certificateholders of other Series and the Series 2000-B Certificateholders shall in no event be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Seller or the investor certificateholders Investor Certificateholders of any other Series. To The Certificateholders Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in accordance with the terms of this Series Supplement. The Servicer will be permitted, in its sole discretion, to waive all or any portion of the Monthly Servicing Fee for any Distribution Date by notice to the Trustee on or before the related Determination Date; provided that the Class A Servicer believes that sufficient Collections of Non-Principal Receivables will be available on any future Distribution Date to pay the Certificateholders Monthly Servicing Fee relating to the waived Monthly Servicing Fee. If the Servicer so waives all or any portion of the Monthly Servicing Fee for any Distribution Date, the Class B Monthly Servicing Fee and the Collateral Certificateholders Monthly Servicing Fee for such Distribution Date shall be deemed to be reduced by the amount so waived for all purposes of this Series Supplement and the Agreement; provided, however, that such Certificateholders Monthly Servicing Fee shall be paid on a future Distribution Date solely to the extent amounts are not paid in full available therefor pursuant to Section 4.10(b); provided, further, that, to the preceding provisions extent any such waived Certificateholders Monthly Servicing Fee is so paid, the related portion of this Section 3.01, and Sections 4.05 and 4.07, they the Monthly Servicing Fee to be paid by the Seller shall be paid by the Holders of Seller to the Transferor CertificatesServicer.

Appears in 1 contract

Samples: Series Supplement (Carco Auto Loan Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182001-8 4 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date (or, in the case of the first Distribution Date, the product of (x) the actual number of days from and including the Closing Date to and including April 30, 2001, divided by 365, (y) the Servicing Fee Rate and (z) the Initial Invested Amount) minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182001-8 4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182001-8 4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Servicing Compensation. The share of the Servicing Fee ---------------------- allocable to the Series 20181999-8 1 Certificateholders and the Collateral Interest Holder with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount Amount, if any, as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"); provided, however, with -------- ------- respect to the first Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be equal to the Servicing Fee accrued on the Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date. On each Distribution Date, but only if the Seller or The Bank of New York is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that -------- ------- with respect to the first Distribution Date, the Class A Servicing Fee shall be equal to the product of the Class A Floating Percentage as of the first Distribution Date and the Initial Servicing Fee. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that -------- ------- with respect to the first Distribution Date, the Class B Servicing Fee shall be equal to product of the Class B Floating Percentage as of the first Distribution Date and the Initial Servicing Fee. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any such Distribution Date (the "Collateral Servicing Fee") shall be equal to one-one- twelfth of the product of (c) the (a) Collateral Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that -------- ------- with respect to the first Distribution Date, the Collateral Servicing Fee shall be equal to the product of the Collateral Floating Percentage as of the first Distribution Date and the Initial Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates Seller or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee Trustee, the Series 1999-1 Certificateholders or the Series 2018-8 Certificateholders Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Seller or the investor certificateholders Certificateholders of any other Series. To the extent that the The (i) Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.05(a)(ii), 4.07(a) or 4.08(a); (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.05(b)(ii), 4.07(c) or 4.08(b); and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.05(c)(i) or 4.07(f).

Appears in 1 contract

Samples: Pooling and Servicing Agreement Supplement (Capital One Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20181996-8 Certificateholders 1 with respect to any Distribution Transfer Date (the “Monthly "Investor Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Series Servicing Fee Percentage and (ii) the Adjusted Invested Amount Investor Interest as of the last day of the Monthly Period preceding such Distribution Transfer Date; provided that with respect to the first Transfer Date, the Investor Servicing Fee shall equal $____________. The share of the Investor Servicing Fee allocable to the Class A Investor Interest with respect to any Transfer Date minus (the "Class A Servicing Fee") shall equal one-twelfth of the product of (i) the Class A Floating Allocation, (ii) Series Servicing Fee Percentage and (iii) the product of the amount, if any, on deposit in the Special Funding Account Adjusted Investor Interest as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage Transfer Date; provided that with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as first Transfer Date, the Class A Servicing Base Amount”)Fee shall equal $____________. The share of the Monthly Investor Servicing Fee allocable to the Class A Certificateholders B Investor Interest with respect to any Distribution Transfer Date (the "Class A B Servicing Fee") shall be equal to one-twelfth of the product of (ai) the Class A B Floating PercentageAllocation, (bii) the Series Servicing Fee Percentage Rate and (ciii) the Adjusted Investor Interest as of the last day of the Monthly Period preceding such Transfer Date; provided that with respect to the first Transfer Date, the Class B Servicing Base AmountFee shall equal $____________. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Investor Servicing Fee allocable to the Collateral Interest with respect to any Distribution Transfer Date (the "Collateral Interest Servicing Fee") shall be equal to one-twelfth of the product of (i) the (a) Collateral Floating PercentageAllocation, (bii) the Series Servicing Fee Rate Percentage and (ciii) the Adjusted Investor Interest as of the last day of the Monthly Period preceding such Transfer Date; provided that with respect to the first Transfer Date, the Collateral Interest Servicing Base AmountFee shall equal $_____________. The remainder of Except as specifically provided above, the Servicing Fee shall be paid by the Holders of cash flows from the Trust allocated to Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 Certificateholders Investor Holders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Seriestherefor. To the extent that the The Class A Servicing Fee, Fee shall be payable to Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to subsections 4.11(a) (ii) and 4.13(a). The Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to subsections 4.11(b)(ii) and the 4.13(c). The Collateral Interest Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificatessubsection 4.13(f) or if applicable subsection 4.11(c)(i).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mellon Bank Premium Finance Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20181996-8 Certificateholders C Holders with respect to any Distribution Date (the “Monthly Servicing Fee”"MONTHLY SERVICING FEE") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount Amount, if any, as of the last day of the Monthly Period preceding such Distribution Date minus Date, MINUS (ii) the product of (A) the amount, if any, on deposit in the Special Funding Account as of the close of business on the last day of the Monthly Period preceding such Distribution Date and (B) the Series 2018-8 Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT"); PROVIDED, HOWEVER, that with respect to the first Distribution Date, the Monthly Servicing Base Amount”)Fee shall be $612,500. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class "CLASS A Servicing Fee”SERVICING FEE") shall be equal to one-twelfth of the product of (a) the Class A Floating PercentageAllocation Percentage with respect to the preceding Monthly Period, (b) the Servicing Fee Rate and (c) the Servicing Base AmountAmount with respect to such Distribution Date; PROVIDED, HOWEVER, that with respect to the first Distribution Date the Class A Servicing Fee shall be $502,250. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class "CLASS B Servicing Fee”SERVICING FEE") shall be equal to one-twelfth of the product of (a) the Class B Floating PercentageAllocation Percentage with respect to the preceding Monthly Period, (b) the Servicing Fee Rate and (c) the Servicing Base Amount with respect to such Distribution Date; PROVIDED, HOWEVER, that with respect to the first Distribution Date, the Class B Monthly Servicing Fee shall be $52,062. The share of the Monthly Servicing Fee allocable to the Class C Interest Holders with respect to any Distribution Date (the "CLASS C SERVICING FEE") shall be equal to one-twelfth of the product of (a) the Class C Floating Allocation Percentage with respect to the preceding Monthly Period, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest ; PROVIDED, HOWEVER, that with respect to any the first Distribution Date (the “Collateral Class C Servicing Fee”) Fee shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount$58,188. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee Trustee, the Series 1996-C Holders, the Cash Collateral Depositor or the Series 2018-8 Certificateholders Spread Account Residual Interest Holder be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders Certificateholders of any other Series. To the extent that the The Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.5(a)(ii), 4.7(a), 4.8(a) or 4.12(c), the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.5(b)(ii), 4.7(d), 4.8(b) or 4.12(e), and the Collateral Class C Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.014.5(c)(i), and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.7(h) or 4.12(h).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chevy Chase Bank FSB)

Servicing Compensation. The share of the Servicing Fee ---------------------- allocable to the Series 20182002-8 4 Certificateholders and the Collateral Interest Holder with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount Amount, if any, as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"); provided, however, with -------- ------- respect to the first Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be equal to $1,000,000.00. On each Distribution Date, but only if a Seller or The Bank of New York is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that -------- ------- with respect to the first Distribution Date, the Class A Servicing Fee shall be equal to $528,125.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the first -------- ------- Distribution Date, the Class B Servicing Fee 18 shall be equal to $48,437.50. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any such Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of (c) the (a) Collateral Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to -------- ------- the first Distribution Date, the Collateral Servicing Fee shall be equal to $48,437.50. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates Sellers or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee Trustee, the Series 2002-4 Certificateholders or the Series 2018-8 Certificateholders Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Sellers or the investor certificateholders Certificateholders of any other Series. To the extent that the The (i) Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.05(a)(ii), the 4.07(a) or 4.08(a); (ii) Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.05(b)(iii), 4.07(c) or 4.08(b); and the (iii) Collateral Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.05(c)(i) or 4.07(f).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capital One Master Trust)

Servicing Compensation. The monthly servicing fee with respect to Series 200_-_ (the "Monthly Servicing Fee") shall be payable to the Servicer, in arrears, on each Payment Date in respect of any Collection Period (or portion thereof) occurring on or prior to the earlier of the first Payment Date following the Stated Maturity Date and the first Payment Date on which the Invested Amount is zero, in an amount equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) the Series 200_-_ Allocation Percentage of the Pool Balance (excluding the amount of Principal Receivables relating to Non-Serviced Participated Receivables) in each case, as of the last day of the second Collection Period preceding such Payment Date. The share of the Monthly Servicing Fee allocable to the Series 2018-8 Certificateholders 200_-_ Noteholders with respect to any Distribution Payment Date (the "Noteholder Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Collection Period second preceding such Distribution Payment Date; provided, however, that the Noteholder Monthly Servicing Fee with respect to the first Payment Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day will be $___________. The remainder of the Monthly Period preceding such Distribution Servicing Fee for the first Payment Date and each subsequent Payment Date shall be paid by the Certificateholders and, in no event shall the Trust or the Series 2018-8 Allocation Percentage with respect to such Monthly Period (200_-_ Noteholders be liable for the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to be paid by the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base AmountCertificateholders. The remainder of the Servicing Fee shall be paid by the Holders of Certificateholders and the Transferor Certificates or the investor certificateholders Noteholders of other Series (as provided in and the related Supplements) and Series 200_-_ Noteholders shall in no event shall the Trust, the Trustee or the Series 2018-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Certificateholders or the investor certificateholders Noteholders of any other Series. To The Noteholder Monthly Servicing Fee shall be payable to the Servicer solely to the extent that amounts are available for distribution in accordance with the Class A terms of the Trust Sale and Servicing Fee, the Class B Servicing Fee Agreement and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions Section 4.04(a) of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor CertificatesSeries Supplement.

Appears in 1 contract

Samples: Supplement to Indenture (Wodfi LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182011-8 1 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182011-8 1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.Base

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182008-8 9 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182008-8 9 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.Base

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the ---------------------- Servicing Fee allocable to the Series 20182000-8 1 Certificateholders and the Collateral Interest Holder with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount Amount, if any, as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"); provided, however, with respect to the first Distribution Date, the -------- ------- Monthly Servicing Fee (the "Initial Servicing Fee") shall be equal to the Servicing Fee accrued on the Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date. On each Distribution Date, but only if the Seller or The Bank of New York is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class A -------- ------- Servicing Fee shall be equal to the product of the Class A Floating Percentage as of the first Distribution Date and the Initial Servicing Fee. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B -------- ------- Servicing Fee shall be equal to product of the Class B Floating Percentage as of the first Distribution Date and the Initial Servicing Fee. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any such Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of (c) the (a) Collateral Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to -------- ------- the first Distribution Date, the Collateral Servicing Fee shall be equal to the product of the Collateral Floating Percentage as of the first Distribution Date and the Initial Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates Seller or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee Trustee, the Series 2000-1 Certificateholders or the Series 2018-8 Certificateholders Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Seller or the investor certificateholders Certificateholders of any other Series. To the extent that the The (i) Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.05(a)(ii), 4.07(a) or 4.08(a); (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.05(b)(ii), 4.07(c) or 4.08(b); and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.05(c)(i) or 4.07(f).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capital One Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2018-8 Certificateholders with respect to any Distribution Date monthly servicing fee (the “Monthly Servicing Fee”) shall be payable to the Servicer, in arrears, on each Distribution Date in respect of a Due Period (or portion thereof) occurring on or prior to the earliest of (i) the first Distribution Date following the Series Termination Date, (ii) the first Distribution Date on which no Notes are outstanding and (iii) the first Distribution Date following the 1995 Trust Termination Date, in an amount equal to one-twelfth of the product result of (a) the Servicing Fee Rate and 1% multiplied by (b) (i) the Adjusted Invested Amount aggregate principal amount of Dealer Notes outstanding as of the last day of the Monthly such Due Period preceding such Distribution Date minus multiplied by (iic) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage for the Collateral Certificate with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”)Due Period. The share A portion of the Monthly Servicing Fee allocable shall be allocated to each series of Notes in accordance with the Class A Certificateholders with respect to any Distribution Date related Indenture Supplement (the “Class A Investor Servicing Fee”) ), and such portion shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate paid in accordance with such Indenture Supplement and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable only to the Class B Certificateholders with respect extent of funds available for such payment pursuant to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amountsuch Indenture Supplement. The remainder of the Monthly Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) Seller and in no event shall the Master Trust, the Master Trust Trustee, the Series 2011-1 Certificateholder, the Issuing Entity, the Indenture Trustee or the Series 2018-8 Certificateholders Owner Trustee be liable for the share of the Monthly Servicing Fee to be paid by the Holders Seller. The Servicer will be permitted, in its sole discretion, to defer all or any portion of the Transferor Certificates Monthly Servicing Fee for any Distribution Date by notice to the Master Trust Trustee and the Indenture Trustee on or before the investor certificateholders of any other Series. To the extent related Determination Date; provided, however, that the Class A Servicer believes that sufficient Series Allocable Finance Charge Collections will be available on any future Distribution Date to pay the Investor Servicing Fee relating to the deferred Monthly Servicing Fee. If the Servicer so defers the Monthly Servicing Fee for any Distribution Date, the Class B Monthly Servicing Fee and the Collateral Investor Servicing Fee for such Distribution Date shall be deemed to be reduced by the amount so deferred for all purposes of this Series Supplement and the Agreement; provided, however, that such Investor Servicing Fee shall be paid on a future date solely to the extent amounts are not paid in full available therefor pursuant to the preceding provisions applicable Indenture Supplement; and, provided, further that, to the extent any such deferred Investor Servicing Fee is so paid, the related portion of this Section 3.01, and Sections 4.05 and 4.07, they the Monthly Servicing Fee to be paid by the Seller shall be paid by the Holders of Seller to the Transferor CertificatesServicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Navistar International Corp)

Servicing Compensation. A monthly servicing fee (the "Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Due Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Invested Amount and the L/C Invested Amount, if any, are zero, in the aggregate amount specified below. On each Distribution Date, Servicer Interchange with respect to the related Due Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Servicing Fee payable by the Series 1999-2 Certificateholders with respect to such Due Period. The share of the Servicing Fee allocable to the Series 2018-8 Class A Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class A Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Net Servicing Fee Rate and Rate, (b) (i) the Adjusted sum of the Invested Amount and the L/C Invested Amount, if any, as of the last day of the Monthly Due Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period second preceding such Distribution Date and (c) the Series 2018-8 Allocation Class A Invested Percentage with respect to such Distribution Date; provided, however, with respect to the first Distribution Date, the Class A Monthly Servicing Fee shall be equal to the Servicing Fee accrued on the Class A Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs the Class A Monthly Servicing Fee shall be increased by an amount equal to the product of (a) the amount calculated pursuant to this clause Net Servicing Fee Rate, (b) a fraction, the numerator of which is referred 30 minus the actual number of days in the period from and including the tenth day of the calendar month in which such Additional Issuance Date occurs to as but excluding such Additional Issuance Date and the “Servicing Base Amount”)denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class A Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Class A B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class A B Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating PercentageNet Servicing Fee Rate, (b) the Servicing Fee Rate sum of the Invested Amount and the L/C Invested Amount, if any, as of the last day of the Due Period second preceding such Distribution Date and (c) the Class B Invested Percentage with respect to such Distribution Date; provided, however, with respect to the first Distribution Date, the Class B Monthly Servicing Base AmountFee shall be equal to the Servicing Fee accrued on the Class B Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs, the Class B Monthly Servicing Fee shall be increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is 30 minus the actual number of days in the period from and including the tenth day of the calendar month in which such Additional Issuance Date occurs to but excluding such Additional Issuance Date and the denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class B Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders L/C Issuer (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date relating to the Early Amortization Period, following the Distribution Date on which the Class A Invested Amount and the Class B Invested Amount are paid in full (the “Class B "L/C Monthly Servicing Fee”) "), shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Net Servicing Fee Rate and (cb) the Servicing Base L/C Invested Amount. The share , if any, as of the Monthly last day of the Due Period second preceding such Distribution Date. On each Distribution Date, the Sellers shall pay a portion of the Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be related Due Period in an amount equal to one-twelfth of the product of the (a) Collateral Floating Percentagethe Servicing Fee Rate, (b) the Servicing Fee Rate Sellers' Participation Amount as of the last day of the Due Period second preceding such Distribution Date (or, if a Lump Addition occurs or a removal of Accounts pursuant to Section 2.10 of the Agreement occurs in the following Due Period, the weighted average of the Sellers' Participation Amount on the date on which such Lump Addition or removal of Accounts occurs (after giving effect thereto) and the last day of the second preceding Due Period) and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in 1999-2 Allocation Percentage for the related Supplements) and in Due Period. In no event shall the Trust, the Trustee Trustee, the Series 1999-2 Certificateholders or the Series 2018-8 Certificateholders L/C Issuer be liable for the share of the Servicing Fee to be paid by the Holders of Sellers. (i) Class A Monthly Servicing Fee shall be payable to the Transferor Certificates or the investor certificateholders of any other Series. To Servicer solely to the extent that amounts are available for distribution pursuant to Section 4.06(a)(iii) or (c)(iii), as the Class A Servicing Feecase may be, the (ii) Class B Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution pursuant to Section 4.06(b)(ii) or (d)(ii), as the case may be, and the Collateral (iii) L/C Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are not paid in full available for distribution pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.09(e).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citibank South Dakota N A)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2018-8 [ ] Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (ib)(i) the Adjusted sum of the [Adjusted] Invested Amount [and the Enhancement Invested Amount, if any,] as of the last day of the Monthly Period preceding such Distribution Date Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"); PROVIDED, HOWEVER, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be equal to $[__________]. [On each Distribution Date, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange.] The share of the Monthly Servicing Fee allocable to the Class A Certificateholders [(after giving effect to the distribution of Servicer Interchange, if any, to the Servicer)] with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the [Net] Servicing Fee Rate and (c) the Servicing Base Amount; PROVIDED, HOWEVER, that with respect to the first Distribution Date, the Class A Servicing Fee shall be equal to $[__________]. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders [(after giving effect to the distribution of Servicer Interchange, if any, to the Servicer)] with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B 13 Floating Percentage, (b) the [Net] Servicing Fee Rate and (c) the Servicing Base Amount; PROVIDED, HOWEVER, that with respect to the first Distribution Date, the Class B Servicing Fee shall be equal to $[__________]. [The share of the Monthly Servicing Fee allocable to the Collateral Interest [(after giving effect to the distribution of Servicer Interchange, if any, to the Servicer)] with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, Invested Percentage (b) the [Net] Servicing Fee Rate and (c) the Servicing Base Amount. ; PROVIDED, HOWEVER, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be equal to [__________].] The remainder of the Servicing Fee shall be paid by the Holders Holder of the Transferor Certificates Depositor Certificate or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee Trustee, the Series [ ] Certificateholders or the Series 2018-8 Certificateholders [Cash Collateral Depositor] [Credit Enhancement Provider] be liable for the share of the Servicing Fee to be paid by the Holders Holder of the Transferor Certificates Depositor Certificate or the investor certificateholders Certificateholders of any other Series. To the extent that the The (i) Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.05(a)(ii), 4.07(a), 4.08(a) or 4.12(c)]; and the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.05(b) (ii), 4.07(d) for 4.12(e) [and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are not paid in full available for distribution with respect thereto pursuant to the preceding provisions of this Section 3.014.05[(b-1)(i)], and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.05(b)(ii) [or 4.07(h-2)].

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ace Securities Corp)

Servicing Compensation. The share of the Servicing Fee ---------------------- allocable to the Series 20182002-8 3 Certificateholders and the Collateral Interest Holder with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount Amount, if any, as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"); provided, however, with -------- ------- respect to the first Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be equal to $1,650,000.00. On each Distribution Date, but only if a Seller or The Bank of New York is the Servicer, Servicer Interchange with respect to the related Monthly Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Monthly Servicing Fee with respect to such Monthly Period. In the case of any insufficiency of Servicer Interchange on deposit in the Collection Account, a portion of the Monthly Servicing Fee with respect to such Monthly Period will not be paid to the extent of such insufficiency of Servicer Interchange. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that -------- ------- with respect to the first Distribution Date, the Class A Servicing Fee shall be equal to $837,890.63. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Net Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest ; provided, however, that with respect to any the first -------- ------- Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing FeeDate, the Class B Servicing Fee (i) Class A Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.05(a)(ii), 4.07(a) or 4.08(a); (ii) Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.05(b)(iii), 4.07(c) or 4.08(b); and the (iii) Collateral Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.05(c)(i) or 4.07(f).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Capital One Master Trust)

Servicing Compensation. A monthly servicing fee (the "Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Due Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Invested Amount and the CCA Invested Amount, if any, are zero, in the aggregate amount specified below. On each Distribution Date, Servicer Interchange with respect to the related Due Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Servicing Fee payable by the Series 1997-8 Certificateholders with respect to such Due Period. The share of the Servicing Fee allocable to the Series 2018-8 Class A Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class A Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Net Servicing Fee Rate and Rate, (b) (i) the Adjusted sum of the Invested Amount and the CCA Invested Amount, if any, as of the last day of the Monthly Due Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period second preceding such Distribution Date and (c) the Series 2018-8 Allocation Class A Invested Percentage with respect to such Distribution Date; provided, however, with respect to the first Distribution Date, the Class A Monthly Servicing Fee shall be equal to the Servicing Fee accrued on the Class A Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs the Class A Monthly Servicing Fee shall be increased by an amount equal to the product of (a) the amount calculated pursuant to this clause Net Servicing Fee Rate, (b) a fraction, the numerator of which is referred 30 minus the actual number of days in the period from and including the fifteenth day of the calendar month in which such Additional Issuance Date occurs to as but excluding such Additional Issuance Date and the “Servicing Base Amount”)denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class A Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Class A B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class A B Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating PercentageNet Servicing Fee Rate, (b) the Servicing Fee Rate sum of the Invested Amount and the CCA Invested Amount, if any, as of the last day of the Due Period second preceding such Distribution Date and (c) the Class B Invested Percentage with respect to such Distribution Date; provided, however, with respect to the first Distribution Date, the Class B Monthly Servicing Base AmountFee shall be equal to the Servicing Fee accrued on the Class B Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs, the Class B Monthly Servicing Fee shall be increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is 30 minus the actual number of days in the period from and including the fifteenth day of the calendar month in which such Additional Issuance Date occurs to but excluding such Additional Issuance Date and the denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class B Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable allocable, on a pro rata basis, to the Class B Certificateholders Cash Collateral Depositor and each Additional Cash Collateral Depositor (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date relating to the Early Amortization Period, following the Distribution Date on which the Class A Invested Amount and the Class B Invested Amount are paid in full (the “Class B "CCA Monthly Servicing Fee”) "), shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Net Servicing Fee Rate and (cb) the Servicing Base CCA Invested Amount. The share , if any, as of the Monthly last day of the Due Period second preceding such Distribution Date. On each Distribution Date, the Sellers shall pay a portion of the Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be related Due Period in an amount equal to one-twelfth of the product of the (a) Collateral Floating Percentagethe Servicing Fee Rate, (b) the Servicing Fee Rate Sellers' Participation Amount as of the last day of the Due Period second preceding such Distribution Date (or, if a Lump Addition occurs or a removal of Accounts pursuant to Section 2.10 of the Agreement occurs in the following Due Period, the weighted average of the Sellers' Participation Amount on the date on which such Lump Addition or removal of Accounts occurs (after giving effect thereto) and the last day of the second preceding Due Period) and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in 1997-8 Allocation Percentage for the related Supplements) and in Due Period. In no event shall the Trust, the Trustee or Trustee, the Series 20181997-8 Certificateholders Certificate-holders, the Cash Collateral Depositor or any Additional Cash Collateral Depositor be liable for the share of the Servicing Fee to be paid by the Holders of Sellers. The (i) Class A Monthly Servicing Fee shall be payable to the Transferor Certificates or the investor certificateholders of any other Series. To Servicer solely to the extent that amounts are available for distribution pursuant to Section 4.06(a)(iii) or (c)(iii), as the Class A Servicing Feecase may be, the (ii) Class B Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution pursuant to Section 4.06(b)(ii) or (d)(ii), as the case may be, and the Collateral (iii) CCA Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are not paid in full available for distribution pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.09(e).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citibank South Dakota N A)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182012-8 3 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182012-8 3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.Base

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

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Servicing Compensation. The monthly servicing fee (the ---------------------- "Monthly Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Collection Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Invested Amount is zero, in an amount equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) the Series [ ] Allocation Percentage of the Pool Balance as of the last day of the second Collection Period preceding such Distribution Date (or with respect to the first Distribution Date for Series [ ], as of the Closing Date). The share of the Servicing Fee allocable to the Series 2018-8 [ ] Certificateholders with respect to any Distribution Date (the "Certificateholders' Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Collection Period second preceding such Distribution Date; provided, however, that with respect to the first Distribution Date minus for Series [ -------- ------- ], clause (iib) of this sentence shall be deemed to refer only to the product sum of the amountinitial principal amounts of the Certificates. Notwithstanding the foregoing, if anywith respect to the first Distribution Date for Series [ ], on deposit each reference in the Special Funding Account as preceding sentences of this Section to one-twelfth will be deemed to be replaced by a fraction, the numerator of which is the number of days from but excluding the Closing Date to and including the last day of the Monthly Period preceding such Distribution month in which the Closing Date occurs and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) denominator of which is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount360. The remainder of the Monthly Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) Seller and in no event shall the Trust, the Trustee or the Series 2018-8 [ ] Certificateholders be liable for the share of the Monthly Servicing Fee to be paid by the Seller; and the remainder of the Servicing Fee shall be paid by the Seller and the Investor Certificateholders of other Series and the Series [ ] Certificateholders shall in no event be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Seller or the investor certificateholders Investor Certificateholders of any other Series. To The Certificateholders' Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in accordance with the terms of this Series Supplement. The Servicer will be permitted, in its sole discretion, to waive the Monthly Servicing Fee for any Distribution Date by notice to the Trustee on or before the related Determination Date; provided that the Class A Servicer believes that -------- sufficient Collections of Non-Principal Receivables will be available on any future Distribution Date to pay the Certificateholders' Monthly Servicing Fee relating to the waived Monthly Servicing Fee. If the Servicer so waives the Monthly Servicing Fee for any Distribution Date, the Class B Monthly Servicing Fee and the Collateral Certificateholders' Monthly Servicing Fee for such Distribution Date shall be deemed to be zero for all purposes of this Series Supplement and the Agreement; provided, however, that such Certificateholders' Monthly Servicing -------- ------- Fee shall be paid on a future Distribution Date solely to the extent amounts are not paid in full available therefor pursuant to Section 4.10(a); provided further, however, that, -------- ------- ------- to the preceding provisions extent any such waived Certificateholders' Monthly Servicing Fee is so paid, the related portion of this Section 3.01, and Sections 4.05 and 4.07, they the Monthly Servicing Fee to be paid by the Seller shall be paid by the Holders of Seller to the Transferor CertificatesServicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Deutsche Floorplan Receivables L P)

Servicing Compensation. (a) A monthly servicing fee for Series 2004-NTC (the “Monthly Servicing Fee”) shall be payable to the Servicer, in arrears, on each Payment Date in respect of any Collection Period (or portion thereof) occurring prior to the first Payment Date on which the Invested Amount is zero, in an amount equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) the product of (i) the Series 2004-NTC Allocation Percentage and (ii) the Pool Balance as of the last day of the second Collection Period preceding such Payment Date. The share of the Monthly Servicing Fee allocable to the Series 20182004-8 Certificateholders NTC Certificateholder with respect to any Distribution Payment Date (the “Series 2004-NTC Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly second Collection Period preceding such Distribution Payment Date minus (ii) the product of the amount, if any, on deposit and shall be payable in the Special Funding Account as manner set forth in Section 4.6; provided, however, that with respect to the first Payment Date for Series 2004-NTC, clause (b) of this sentence shall be deemed to refer to the Invested Amount on the Closing Date. Notwithstanding the foregoing, with respect to the first Payment Date for Series 2004-NTC, each reference in the preceding sentences of this Section to one-twelfth shall be deemed to be replaced by a fraction, the numerator of which is the number of days from but excluding the Closing Date to and including the last day of the Monthly Period preceding such Distribution month in which the Closing Date occurs and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause denominator of which is 360. (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Monthly Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182004-8 NTC Certificateholder be liable for the share of the Monthly Servicing Fee to be paid by the Transferor; and the remainder of the Servicing Fee shall be paid by the Transferor and the Investor Certificateholders of other Series, the Trustee and the Series 2004-NTC Certificateholder shall in no event be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders Investor Certificateholders of any other Series. To The Series 2004-NTC Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for payment in accordance with the terms of this Series Supplement or to the extent that amounts may be netted with respect thereto in accordance with the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions terms of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by Series Supplement or the Holders of the Transferor CertificatesAgreement.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CDF Funding, Inc.)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182005-8 6 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182005-8 6 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182005-8 6 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182003-8 4 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182003-8 4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182003-8 4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182002-8 6 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182002-8 6 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182002-8 6 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Centurion Bank)

Servicing Compensation. A monthly servicing fee for your series (the "Monthly Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Collection Period (or portion thereof) occurring prior to the first Distribution Date on which the Invested Amount is zero, in an amount equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) the product of (i) the Series 2000-1 Allocation Percentage and (ii) the Pool Balance as of the last day of the second Collection Period preceding such Distribution Date. The share of the Monthly Servicing Fee allocable to the Series 20182000-8 1 Certificateholders with respect to any Distribution Date (the "Certificateholders' Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly second Collection Period second preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit and shall be payable in the Special Funding Account as manner set forth in Section 4.6 and Section 4.10; provided, however, that with respect to the first Distribution Date for Series 2000-1, clause (b) of this sentence shall be deemed to refer to the Invested Amount on the Closing Date. Notwithstanding the foregoing, with respect to the first Distribution Date for Series 2000-1, each reference in the preceding sentences of this Section to one-twelfth shall be deemed to be replaced by a fraction, the numerator of which is the number of days from but excluding the Closing Date to and including the last day of the Monthly Period preceding such Distribution month in which the Closing Date occurs and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) denominator of which is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount360. The remainder of the Monthly Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) Seller and in no event shall the Trust, the Trustee or the Series 20182000-8 1 Certificateholders be liable for the share of the Monthly Servicing Fee to be paid by the Seller; and the remainder of the Servicing Fee shall be paid by the Seller and the Investor Certificateholders of other Series, the Trustee and the Series 2000-1 Certificateholders shall in no event be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Seller or the investor certificateholders Investor Certificateholders of any other Series. To The Certificateholders' Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in accordance with the terms of this Series Supplement or to the extent that amounts may be netted with respect thereto in accordance with the Class A terms of this Series Supplement or the Agreement. The Servicer shall be permitted, in its sole discretion, to waive the Monthly Servicing Fee for any Distribution Date by notice to the Trustee on or before the related Determination Date; provided that the Servicer reasonably believes that sufficient Non-Principal Collections shall be available on any future Distribution Date to pay the waived Monthly Servicing Fee. If the Servicer so waives the Monthly Servicing Fee for any Distribution Date, the Class B Monthly Servicing Fee and the Collateral Certificateholders' Monthly Servicing Fee for such Distribution Date shall be deemed to be zero for all purposes of this Series Supplement and the Agreement; provided, however, that such Monthly Servicing Fee shall be paid on a future Distribution Date to the extent amounts are not paid in full available therefor pursuant to Section 4.10(a) or to the preceding provisions extent that amounts may be netted with respect thereto in accordance with the terms of this Section 3.01Series Supplement or the Agreement; provided further, and Sections 4.05 and 4.07however, they that, to the extent any such waived Monthly Servicing Fee is so paid, the related portion of the Monthly Servicing Fee to be paid by the Seller shall be paid by the Holders Seller to the Servicer. If the Servicer is DFS, and payment of any portion of the Transferor CertificatesMonthly Servicing Fee to DFS on a Distribution Date would require a withdrawal from the Reserve Fund, then absent affirmative notice to the Trustee by DFS to the contrary, DFS shall be deemed to have waived payment of that portion on that Distribution Date; provided that a deemed waiver described in this sentence shall not occur on more than two Distribution Dates in any twelve month period and shall not occur on any two consecutive Distribution Dates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Deutsche Floorplan Receivables L P)

Servicing Compensation. The monthly servicing fee (the "Monthly Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Collection Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Invested Amount is zero, in an amount equal to the product of (a) the Servicing Fee Rate, (b) the Pool Balance as of the last day of the Collection Period second preceding such Distribution Date and (c) the Series 2000-B Allocation Percentage with respect to the immediately preceding Collection Period. The share of the Monthly Servicing Fee allocable to the Series 20182000-8 B Certificateholders with respect to any Distribution Date (the "Certificateholders Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Collection Period second preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base AmountDate. The remainder of the Monthly Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) Seller and in no event shall the Trust, the Trustee or the Series 20182000-8 B Certificateholders be liable for the share of the Monthly Servicing Fee to be paid by the Seller; and the remainder of the Servicing Fee shall be paid by the Seller and the Investor Certificateholders of other Series and the Series 2000-B Certificateholders shall in no event be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Seller or the investor certificateholders Investor Certificateholders of any other Series. To The Certificateholders Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in accordance with the terms of this Series Supplement. The Servicer will be permitted, in its sole discretion, to waive all or any portion of the Monthly Servicing Fee for any Distribution Date by notice to the Trustee on or before the related Determination Date; provided that the Class A Servicer believes that sufficient Collections of Non-Principal Receivables will be available on any future Distribution Date to pay the Certificateholders Monthly Servicing Fee relating to the waived Monthly Servicing Fee. If the Servicer so waives all or any portion of the Monthly Servicing Fee for any Distribution Date, the Class B Monthly Servicing Fee and the Collateral Certificateholders Monthly Servicing Fee for such Distribution Date shall be deemed to be reduced by the amount so waived for all purposes of this Series Supplement and the Agreement; provided, however, that such Certificateholders Monthly Servicing Fee shall be paid on a future Distribution Date solely to the extent amounts are not paid in full available therefor pursuant to Section 4.10(b); provided, further, that, to the preceding provisions extent any such waived Certificateholders Monthly Servicing Fee is so paid, the related portion of this Section 3.01, and Sections 4.05 and 4.07, they the Monthly Servicing Fee to be paid by the Seller shall be paid by the Holders Seller to the Servicer. Rights of the Transferor Certificates.Series 2000-B Certificateholders and Allocation and Application of Collections

Appears in 1 contract

Samples: Series 2000 B Supplement (Carco Auto Loan Master Trust)

Servicing Compensation. A monthly servicing fee for your series (the "Monthly Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Collection Period (or portion thereof) occurring prior to the first Distribution Date on which the Invested Amount is zero, in an amount equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) the product of (i) the Series 2000-2 Allocation Percentage and (ii) the Pool Balance as of the last day of the second Collection Period preceding such Distribution Date. The share of the Monthly Servicing Fee allocable to the Series 20182000-8 2 Certificateholders with respect to any Distribution Date (the "Certificateholders' Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly second Collection Period second preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit and shall be payable in the Special Funding Account as manner set forth in Section 4.6 and Section 4.10; provided, however, that with respect to the first Distribution Date for Series 2000-2, clause (b) of this sentence shall be deemed to refer to the Invested Amount on the Closing Date. Notwithstanding the foregoing, with respect to the first Distribution Date for Series 2000-2, each reference in the preceding sentences of this Section to one-twelfth shall be deemed to be replaced by a fraction, the numerator of which is the number of days from but excluding the Closing Date to and including the last day of the Monthly Period preceding such Distribution month in which the Closing Date occurs and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) denominator of which is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount360. The remainder of the Monthly Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) Seller and in no event shall the Trust, the Trustee or the Series 20182000-8 2 Certificateholders be liable for the share of the Monthly Servicing Fee to be paid by the Seller; and the remainder of the Servicing Fee shall be paid by the Seller and the Investor Certificateholders of other Series, the Trustee and the Series 2000-2 Certificateholders shall in no event be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Seller or the investor certificateholders Investor Certificateholders of any other Series. To The Certificateholders' Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in accordance with the terms of this Series Supplement or to the extent that amounts may be netted with respect thereto in accordance with the Class A terms of this Series Supplement or the Agreement. The Servicer shall be permitted, in its sole discretion, to waive the Monthly Servicing Fee for any Distribution Date by notice to the Trustee on or before the related Determination Date; provided that the Servicer reasonably believes that sufficient Non-Principal Collections shall be available on any future Distribution Date to pay the waived Monthly Servicing Fee. If the Servicer so waives the Monthly Servicing Fee for any Distribution Date, the Class B Monthly Servicing Fee and the Collateral Certificateholders' Monthly Servicing Fee for such Distribution Date shall be deemed to be zero for all purposes of this Series Supplement and the Agreement; provided, however, that such Monthly Servicing Fee shall be paid on a future Distribution Date to the extent amounts are not paid in full available therefor pursuant to Section 4.10(a) or to the preceding provisions extent that amounts may be netted with respect thereto in accordance with the terms of this Section 3.01Series Supplement or the Agreement; provided further, and Sections 4.05 and 4.07however, they that, to the extent any such waived Monthly Servicing Fee is so paid, the related portion of the Monthly Servicing Fee to be paid by the Seller shall be paid by the Holders Seller to the Servicer. If the Servicer is DFS, and payment of any portion of the Transferor CertificatesMonthly Servicing Fee to DFS on a Distribution Date would require a withdrawal from the Reserve Fund, then absent affirmative notice to the Trustee by DFS to the contrary, DFS shall be deemed to have waived payment of that portion on that Distribution Date; provided that a deemed waiver described in this sentence shall not occur on more than two Distribution Dates in any twelve month period and shall not occur on any two consecutive Distribution Dates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Deutsche Floorplan Receivables L P)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2018-8 Certificateholders 200_-_ Holders with respect to any Distribution Date (the "Monthly Servicing Fee”) "), shall be equal to one-twelfth of the product of (ai) the Servicing Fee Rate and (b) (iii) the Adjusted Invested Amount Amount, if any, as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (bii) is referred to as the "Servicing Base Amount"); provided, however, with respect to the December 2001 Distribution Date, the Monthly Servicing Fee shall be $__________. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee”) "), shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the December 2001 Distribution Date, the Class A Servicing Fee shall be $__________. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee”) "), shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the December 2001 Distribution Date, the Class B Servicing Fee shall be $________. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "Collateral Servicing Fee”) "), shall be equal to one-twelfth of the product of the (a) the Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of ; provided, however, that with respect to the December 2001 Distribution Date, the Collateral Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in $__________. In no event shall the Trust, the Trustee Trustee, or the Series 2018-8 Certificateholders 200_-_ Holders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders Certificateholders of any other Series. To the extent that the The Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.5(a)(ii), 4.7(a) or 4.8(a); the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.5(b)(ii), 4.7(c) or 4.8(b); and the Collateral Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.5(c)(i) or 4.7(g).

Appears in 1 contract

Samples: Series Supplement (Fleet Credit Card Master Trust Ii)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20181998-8 Certificateholders 1 Holders with respect to any Distribution Date (the "Monthly Servicing Fee”) "), shall be equal to one-twelfth of the product of (ai) the Servicing Fee Rate and (b) (iii) the Adjusted Invested Amount Amount, if any, as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (bii) is referred to as the "Servicing Base Amount"); provided, however, with respect to the April 1998 Distribution Date, the Monthly Servicing Fee (the "Initial Servicing Fee") shall be $347,222. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee”) "), shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the April 15, 1998 Distribution Date, the Class A Servicing Fee shall be $315,972. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee”) "), shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the April 15, 1998 Distribution Date, the Class B Servicing Fee shall be $17,361. The share of the Monthly Servicing Fee allocable to the Collateral Class C Interest Holder with respect to any Distribution Date (the “Collateral "Class C Servicing Fee”) "), shall be equal to one-twelfth of the product of the (a) Collateral the Class C Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the April 15, 1998 Distribution Date, the Class C Servicing Fee shall be $13,889. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20181998-8 Certificateholders 1 Holders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders Certificateholders of any other Series. To the extent that the The Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to subsection 4.5(a)(ii), 4.7(a) or 4.8(a); the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to subsection 4.5(b)(ii), 4.7(c) or 4.8(b); and the Collateral Class C Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificatessubsection 4.5(c)(i) or 4.7(g).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Travelers Bank Credit Card Master Trust I)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182008-8 6 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182008-8 6 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.Base

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The monthly servicing fee (the "Monthly Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Collection Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Invested Amount is zero, in an amount equal to the product of (a) the Servicing Fee Rate, (b) the Pool Balance as of the last day of the Collection Period second preceding such Distribution Date and (c) the Series 2000-C Allocation Percentage with respect to the immediately preceding Collection Period. The share of the Monthly Servicing Fee allocable to the Series 20182000-8 C Certificateholders with respect to any Distribution Date (the "Certificateholders Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Collection Period second preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base AmountDate. The remainder of the Monthly Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) Seller and in no event shall the Trust, the Trustee or the Series 20182000-8 C Certificateholders be liable for the share of the Monthly Servicing Fee to be paid by the Seller; and the remainder of the Servicing Fee shall be paid by the Seller and the Investor Certificateholders of other Series and the Series 2000-C Certificateholders shall in no event be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Seller or the investor certificateholders Investor Certificateholders of any other Series. To The Certificateholders Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in accordance with the terms of this Series Supplement. The Servicer will be permitted, in its sole discretion, to waive all or any portion of the Monthly Servicing Fee for any Distribution Date by notice to the Trustee on or before the related Determination Date; provided that the Class A Servicer believes that sufficient Collections of Non-Principal Receivables will be available on any future Distribution Date to pay the Certificateholders Monthly Servicing Fee relating to the waived Monthly Servicing Fee. If the Servicer so waives all or any portion of the Monthly Servicing Fee for any Distribution Date, the Class B Monthly Servicing Fee and the Collateral Certificateholders Monthly Servicing Fee for such Distribution Date shall be deemed to be reduced by the amount so waived for all purposes of this Series Supplement and the Agreement; provided, however, that such Certificateholders Monthly Servicing Fee shall be paid on a future Distribution Date solely to the extent amounts are not paid in full available therefor pursuant to Section 4.10(b); provided, further, that, to the preceding provisions extent any such waived Certificateholders Monthly Servicing Fee is so paid, the related portion of this Section 3.01, and Sections 4.05 and 4.07, they the Monthly Servicing Fee to be paid by the Seller shall be paid by the Holders of Seller to the Transferor CertificatesServicer.

Appears in 1 contract

Samples: Series Supplement (Carco Auto Loan Master Trust)

Servicing Compensation. A monthly servicing fee for Series 2003-1 (the "Monthly Servicing Fee") shall be payable to the Servicer, in arrears, on each Payment Date in respect of any Collection Period (or portion thereof) occurring prior to the first Payment Date on which the Invested Amount is zero, in an amount equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) the product of (i) the Series 2003-1 Allocation Percentage and (ii) the Pool Balance as of the last day of the second Collection Period preceding such Payment Date. The share of the Monthly Servicing Fee allocable to the Series 20182003-8 1 Certificateholders with respect to any Distribution Payment Date (the "Certificateholders' Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly second Collection Period preceding such Distribution Payment Date minus (ii) the product of the amount, if any, on deposit and shall be payable in the Special Funding Account as manner set forth in Section 4.6 and Section 4.10; provided, however, that with respect to the first Payment Date for Series 2003-1, clause (b) of this sentence shall be deemed to refer to the Invested Amount on the Closing Date. Notwithstanding the foregoing, with respect to the first Payment Date for Series 2003-1, each reference in the preceding sentences of this Section to one-twelfth shall be deemed to be replaced by a fraction, the numerator of which is the number of days from but excluding the Closing Date to and including the last day of the Monthly Period preceding such Distribution month in which the Closing Date occurs and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) denominator of which is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount360. The remainder of the Monthly Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182003-8 1 Certificateholders be liable for the share of the Monthly Servicing Fee to be paid by the Transferor; and the remainder of the Servicing Fee shall be paid by the Transferor and the Investor Certificateholders of other Series, the Trustee and the Series 2003-1 Certificateholders shall in no event be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders Investor Certificateholders of any other Series. To The Certificateholders' Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for payment in accordance with the terms of this Series Supplement or to the extent that amounts may be netted with respect thereto in accordance with the Class A terms of this Series Supplement or the Agreement. The Servicer shall be permitted, in its sole discretion, to waive the Monthly Servicing Fee for any Payment Date, in whole or in part, by notice to the Trustee on or before the related Determination Date; provided that the Servicer reasonably believes that sufficient Non-Principal Collections shall be available on any future Payment Date to pay the waived portion of Monthly Servicing Fee. The waived portion of such Monthly Servicing Fee shall be paid on a future Payment Date to the extent amounts are available therefor pursuant to Section 4.10(a) or to the extent that amounts may be netted with respect thereto in accordance with the terms of this Series Supplement or the Agreement; provided, however, that, to the extent any such waived Monthly Servicing Fee is so paid, the Class B related portion of the Monthly Servicing Fee and to be paid by the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they Transferor shall be paid by the Holders Transferor to the Servicer. If the Servicer is the Initial Servicer, and payment of any portion of the Transferor CertificatesMonthly Servicing Fee to the Initial Servicer on a Payment Date would require a withdrawal from the Reserve Fund, then absent affirmative notice to the Trustee by the Initial Servicer to the contrary, the Initial Servicer shall be deemed to have waived payment of that portion on that Payment Date; provided that a deemed waiver described in this sentence shall not occur on more than two Payment Dates in any twelve month period and shall not occur on any two consecutive Payment Dates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CDF Financing LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20181997-8 1 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”"MONTHLY SERVICING FEE") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the sum of the Class A Adjusted Invested Amount and the Class B Invested Amount as of the last day of the Monthly Period second preceding such Distribution Date minus Date, MINUS (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period second preceding such Distribution Date and the Series 2018-8 Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT"); PROVIDED, HOWEVER, that with respect to the first Distribution Date, the Monthly Servicing Base Amount”)Fee shall be $560,224. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class "CLASS A Servicing Fee”SERVICING FEE") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, Percentage and (b) the Monthly Servicing Fee; PROVIDED, HOWEVER, that with respect to the first Distribution Date the Class A Servicing Fee Rate and (c) the Servicing Base Amountshall be $428,571. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class "CLASS B Servicing Fee”SERVICING FEE") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, Percentage and (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest Fee; PROVIDED, HOWEVER, that with respect to any the first Distribution Date (Date, the “Collateral Class B Servicing Fee”) Fee shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount$131,653. The remainder of the Servicing Fee shall be paid by from amounts allocable to the Holders Holder of the Transferor Certificates Certificate, holders of Participations or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20181997-8 1 Certificateholders be liable for the share of the Servicing Fee to be paid by from amounts allocable to the Holders Holder of the Transferor Certificates Certificate, holders of a Participation or the investor certificateholders Certificateholders of any other Series. To The Monthly Servicing Fee shall be payable to the Servicer solely to the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.6(a)(ii).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Dayton Hudson Receivables Corp)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182003-8 2 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182003-8 2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182003-8 2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Centurion Bank)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182004-8 4 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182004-8 4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182004-8 4 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20181999-8 6 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, (or, in the case of the first Distribution Date, the product of (x) the actual number of days from and including the Closing Date to and including September 30, 1999, divided by 365, (y) the Servicing Fee Rate and (z) the Initial Invested Amount) minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20181999-8 6 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20181999-8 6 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Servicing Compensation. A monthly servicing fee (the "Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Due Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Invested Amount and the CCA Invested Amount, if any, are zero, in the aggregate amount specified below. On each Distribution Date, Servicer Interchange with respect to the related Due Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Servicing Fee payable by the Series 1998-9 Certificateholders with respect to such Due Period. The share of the Servicing Fee allocable to the Series 2018-8 Class A Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class A Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Net Servicing Fee Rate and Rate, (b) (i) the Adjusted sum of the Invested Amount and the CCA Invested Amount, if any, as of the last day of the Monthly Due Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period second preceding such Distribution Date and (c) the Series 2018-8 Allocation Class A Invested Percentage with respect to such Distribution Date; provided, however, with respect to the first Distribution Date, the Class A Monthly Servicing Fee shall be equal to the Servicing Fee accrued on the Class A Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs the Class A Monthly Servicing Fee shall be increased by an amount equal to the product of (a) the amount calculated pursuant to this clause Net Servicing Fee Rate, (b) a fraction, the numerator of which is referred 30 minus the actual number of days in the period from and including the seventh day of the calendar month in which such Additional Issuance Date occurs to as but excluding such Additional Issuance Date and the “Servicing Base Amount”)denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class A Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Class A B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class A B Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating PercentageNet Servicing Fee Rate, (b) the Servicing Fee Rate sum of the Invested Amount and the CCA Invested Amount, if any, as of the last day of the Due Period second preceding such Distribution Date and (c) the Class B Invested Percentage with respect to such Distribution Date; provided, however, with respect to the first Distribution Date, the Class B Monthly Servicing Base AmountFee shall be equal to the Servicing Fee accrued on the Class B Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs, the Class B Monthly Servicing Fee shall be increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is 30 minus the actual number of days in the period from and including the seventh day of the calendar month in which such Additional Issuance Date occurs to but excluding such Additional Issuance Date and the denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class B Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable allocable, on a pro rata basis, to the Class B Certificateholders Cash Collateral Depositor and each Additional Cash Collateral Depositor (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date relating to the Early Amortization Period, following the Distribution Date on which the Class A Invested Amount and the Class B Invested Amount are paid in full (the “Class B "CCA Monthly Servicing Fee”) "), shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Net Servicing Fee Rate and (cb) the Servicing Base CCA Invested Amount. The share , if any, as of the Monthly last day of the Due Period second preceding such Distribution Date. On each Distribution Date, the Sellers shall pay a portion of the Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be related Due Period in an amount equal to one-twelfth of the product of the (a) Collateral Floating Percentagethe Servicing Fee Rate, (b) the Servicing Fee Rate Sellers' Participation Amount as of the last day of the Due Period second preceding such Distribution Date (or, if a Lump Addition occurs or a removal of Accounts pursuant to Section 2.10 of the Agreement occurs in the following Due Period, the weighted average of the Sellers' Participation Amount on the date on which such Lump Addition or removal of Accounts occurs (after giving effect thereto) and the last day of the second preceding Due Period) and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in 1998-9 Allocation Percentage for the related Supplements) and in Due Period. In no event shall the Trust, the Trustee or Trustee, the Series 20181998-8 Certificateholders 9 Certificate-holders, the Cash Collateral Depositor or any Additional Cash Collateral Depositor be liable for the share of the Servicing Fee to be paid by the Holders of Sellers. (i) Class A Monthly Servicing Fee shall be payable to the Transferor Certificates or the investor certificateholders of any other Series. To Servicer solely to the extent that amounts are available for distribution pursuant to Section 4.06(a)(iii) or (c)(iii), as the Class A Servicing Feecase may be, the (ii) Class B Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution pursuant to Section 4.06(b)(ii) or (d)(ii), as the case may be, and the Collateral (iii) CCA Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are not paid in full available for distribution pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.09(e).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citibank South Dakota N A)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182007-8 5 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182007-8 5 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182007-8 5 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182002-8 2 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182002-8 2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182002-8 2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Centurion Bank)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182002-8 5 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182002-8 5 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182002-8 5 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182006-8 2 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182006-8 2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182006-8 2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182001-8 Certificateholders B Holders with respect to any Distribution Date (the "Monthly Servicing Fee”) "), shall be equal to one-twelfth of the product of (ai) the Servicing Fee Rate and (b) (iii) the Adjusted Invested Amount Amount, if any, as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (bii) is referred to as the "Servicing Base Amount"); provided, however, with respect to the August 2001 Distribution Date, the Monthly Servicing Fee shall be $1,133,333. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee”) "), shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the August 2001 Distribution Date, the Class A Servicing Fee shall be $969,000. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee”) "), shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the August 2001 Distribution Date, the Class B Servicing Fee shall be $68,000. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the "Collateral Servicing Fee”) "), shall be equal to one-twelfth of the product of the (a) the Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of ; provided, however, that with respect to the August 2001 Distribution Date, the Collateral Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in $96,333. In no event shall the Trust, the Trustee Trustee, or the Series 20182001-8 Certificateholders B Holders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Seller Certificates or the investor certificateholders Certificateholders of any other Series. To the extent that the The Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant shall be payable to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by Servicer solely to the Holders of the Transferor Certificates.extent amounts are available for

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Fleet Credit Card Master Trust Ii)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182003-8 3 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182003-8 3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"). The share of the Monthly Servicing Fee allocable to the Class A (Series 2003-3 Supplement) 13 Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182003-8 3 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182000-8 2 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date, (or, in the case of the first Distribution Date, the product of (x) the actual number of days from and including the Closing Date to and including February 29, 2000, divided by 365, (y) the Servicing Fee Rate and (z) the Initial Invested Amount) minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182000-8 2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182000-8 2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Credit Account Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20181997-8 1 Certificateholders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20181997-8 1 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base Amount"); provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be equal to $1,833,333.33. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class A Servicing Fee shall be equal to $1,585,833.33. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be equal to $110,000.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the "Collateral Servicing Fee") shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be equal to $137,500.00. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20181997-8 1 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20181998-8 Certificateholders A Holders with respect to any Distribution Date (the "Monthly Servicing Fee") shall be --------------------- equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount Amount, if any, as of the last day of the Monthly Period preceding such Distribution Date Date, minus (ii) the product of (A) the amount, if ----- any, on deposit in the Special Funding Account as of the close of business on the last day of the Monthly Period preceding such Distribution Date and (B) the Series 2018-8 Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "Servicing Base -------------- Amount"); provided, however, that with respect to the first Distribution Date, ------ the Monthly Servicing Fee shall be $1,400,000. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the "Class A Servicing Fee") shall be equal to one-twelfth --------------------- of the product of (a) the Class A Floating PercentageAllocation Percentage with respect to the preceding Monthly Period, (b) the Servicing Fee Rate and (c) the Servicing Base AmountAmount with respect to such Distribution Date; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $1,092,000. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the "Class B Servicing ----------------- Fee") shall be --- equal to one-twelfth of the product of (a) the Class B Floating PercentageAllocation Percentage with respect to the preceding Monthly Period, (b) the Servicing Fee Rate and (c) the Servicing Base Amount with respect to such Distribution Date; provided, however, that with respect to the first Distribution Date, the Class B Monthly Servicing Fee shall be $168,000. The share of the Monthly Servicing Fee allocable to the Class C Interest Holders with respect to any Distribution Date (the "Class C Servicing Fee") shall be equal to one-twelfth of the product of --------------------- (a) the Class C Floating Allocation Percentage with respect to the preceding Monthly Period, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest ; provided, however, that with respect to any the first Distribution Date (the “Collateral Class C Servicing Fee”) Fee shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount$140,000. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee Trustee, the Series 1998-A Holders, the Cash Collateral Depositor or the Series 2018-8 Certificateholders Spread Account Residual Interest Holder be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders Certificateholders of any other Series. To the extent that the The Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.5(a)(ii), 4.7(a), 4.8(a) or 4.12(c), the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to Section 4.5(b)(ii), 4.7(d), 4.8(b) or 4.12(e), and the Collateral Class C Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.014.5(c)(i), and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.7(h) or 4.12(h).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chevy Chase Bank FSB)

Servicing Compensation. A monthly servicing fee (the "Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of the prior Due Period (or portion thereof) occurring before the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Series 2000 Invested Amount is zero, in the aggregate amount specified below. On each Distribution Date, Servicer Interchange with respect to the related Due Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Servicing Fee payable by the Series 2000 Certificateholders with respect to such Due Period. The share of the Servicing Fee allocable to the Series 2018-8 2000 Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Series 2000 Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Net Servicing Fee Rate and (b) (i) the Adjusted Series 2000 Invested Amount as of the last day of the Monthly Due Period second preceding such Distribution Date minus Date; provided, however, that (ii1) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as first Distribution Date, the “Servicing Base Amount”). The share of the Series 2000 Monthly Servicing Fee allocable shall be equal to the Class A Certificateholders Servicing Fee accrued on the Series 2000 Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months, and (2) with respect to any Distribution Date (each Due Period thereafter during which the “Class A Series 2000 Invested Amount is increased as a result of an issuance of a tranche of Notes, the Series 2000 Monthly Servicing Fee”) Fee shall be reduced to reflect the number of days in such Due Period before such issuance. On each Distribution Date, the Sellers shall pay a portion of the Servicing Fee with respect to the related Due Period in an amount equal to one-twelfth of the product of (a) the Class A Floating PercentageServicing Fee Rate, (b) the Servicing Fee Rate Sellers' Participation Amount as of the last day of the Due Period second preceding such Distribution Date (or, if a Lump Addition occurs or a removal of Accounts pursuant to Section 2.10 of the Agreement occurs in the following Due Period, the weighted average of the Sellers' Participation Amount on the date on which such Lump Addition or removal of Accounts occurs (after giving effect thereto) and the last day of the second preceding Due Period) and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in 2000 Allocation Percentage for the related Supplements) and in Due Period. In no event shall the Master Trust, the Trustee or the Series 2018-8 2000 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of Sellers. The Series 2000 Monthly Servicing Fee shall be payable to the Transferor Certificates or the investor certificateholders of any other Series. To Servicer solely to the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee amounts are not paid in full available for distribution pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.02(a)(ii).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citibank Credit Card Issuance Trust)

Servicing Compensation. The monthly servicing fee with ---------------------- respect to Series 2000-1 (the "Monthly Servicing Fee") shall be payable to the Servicer, in arrears, on each Payment Date in respect of any Collection Period (or portion thereof) occurring prior to the earlier of the first Payment Date following the Series 2000-1 Stated Maturity Date and the first Payment Date on which the Invested Amount is zero, in an amount equal to one-twelfth of the product of (a) the Servicing Fee Rate, and (b) the Series 2000-1 Allocation Percentage of the Pool Balance (excluding the amount on deposit in the Excess Funding Account, if any) as of the second preceding Reset Date. The share of the Monthly Servicing Fee allocable to the Series 20182000-8 Certificateholders 1 Noteholders with respect to any Distribution Payment Date (the "Noteholders Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day second preceding Reset Date; provided, however, that the -------- ------- Noteholders Monthly Servicing Fee with respect to the first Payment Date shall be $[__________]. The remainder of the Monthly Period preceding such Distribution Date minus (ii) Servicing Fee shall be paid by the product of Residual Interestholder and in no event shall the amountTrust, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and Indenture Trustee or the Series 20182000-8 Allocation Percentage with respect to such Monthly Period (1 Noteholders be liable for the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to be paid by the Class A Certificateholders with respect to any Distribution Date (Residual Interestholder; and the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of Residual Interestholder and the Transferor Certificates or the investor certificateholders Noteholders of other Series (as provided in and the related Supplements) and in no event shall Series 2000-1 Noteholders, the Trust, the Indenture and the Owner Trustee or the Series 2018-8 Certificateholders shall in no event be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Residual Interestholder or the investor certificateholders Noteholders of any other Series. To The Noteholders Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution therefor in accordance with the terms of this Series Supplement. The Servicer shall be permitted, in its sole discretion, to waive the Monthly Servicing Fee for any Payment Date by notice to the Indenture Trustee on or before the related Determination Date; provided that the Class A Servicer -------- believes that sufficient Non-Principal Collections will be available on any future Payment Date to pay the Noteholders Monthly Servicing Fee relating to the waived Monthly Servicing Fee. If the Servicer so waives the Monthly Servicing Fee for any Payment Date, the Class B Monthly Servicing Fee and the Collateral Noteholders Monthly Servicing Fee for such Payment Date shall be deemed to be zero for all purposes of this Series Supplement, the Indenture and the Agreement; provided, however, -------- ------- that such Noteholders Monthly Servicing Fee shall be paid on a future Payment Date solely to the extent amounts are not paid in full available therefor pursuant to Section 4.06(a)(viii); and provided, further, that, to the preceding provisions extent any such waived Noteholders Monthly Servicing Feeis so paid, the related portion of this Section 3.01, and Sections 4.05 and 4.07, they the Monthly Servicing Fee to be paid by the Residual Interestholder shall be paid by the Holders of Residual Interestholder to the Transferor CertificatesServicer.

Appears in 1 contract

Samples: Series Supplement (Volkswagen Dealer Finance LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182007-8 2 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182007-8 2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182007-8 2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182002-8 Certificateholders 1 with respect to any Distribution Date (shall be paid from Servicer Interchange and the Monthly Servicing Fee”) . The "MONTHLY SERVICING FEE" shall be equal to one-twelfth of the excess of (x) the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date Date, minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Floating Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the "SERVICING BASE AMOUNT") over (y) the product of the Servicer Interchange Percentage and the Servicing Base Amount”); provided, however, that with respect to the first Distribution Date, the Monthly Servicing Fee shall be $365,972.00. The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class "CLASS A Servicing Fee”SERVICING FEE") shall be equal to one-twelfth of the product of (aA) the Class A Floating Percentage, (bB) the Net Servicing Fee Rate and (cC) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date the Class A Servicing Fee shall be $320,226.00. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class "CLASS B Servicing Fee”SERVICING FEE") shall be equal to one-twelfth of the product of (a1) the Class B Floating Percentage, (b2) the Net Servicing Fee Rate and (c3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Class B Servicing Fee shall be $21,958.00. The share of the Monthly Servicing Fee allocable to the Collateral Interest Holder with respect to any Distribution Date (the “Collateral Servicing Fee”"COLLATERAL SERVICING FEE") shall be equal to one-twelfth of the product of (1) the (a) Collateral Floating Percentage, (b2) the Net Servicing Fee Rate and (c3) the Servicing Base Amount; provided, however, that with respect to the first Distribution Date, the Collateral Servicing Fee shall be $23,788.00. On each Distribution Date, prior to making any other withdrawals from the Collection Account, the Servicer shall apply, or shall instruct the Trustee to apply, amounts on deposit in the Collection Account with respect to the related Monthly Period, up to the amount of Servicer Interchange for such Monthly Period, to the Servicer in partial payment of the Series 2002-1 share of the Servicing Fee. The remainder of the Servicing Fee shall be paid by the Holders Holder of the Transferor Certificates Seller Certificate or the investor certificateholders Certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee Trustee, the Series 2002-1 Certificateholders or the Series 2018-8 Certificateholders Collateral Interest Holder be liable for the share of the Servicing Fee to be paid by the Holders Holder of the Transferor Certificates Seller Certificate or the investor certificateholders Certificateholders of any other Series. To the extent that the The (I) Class A Servicing FeeFee shall be payable to the Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(a)(ii), 4.07(a) or 4.08(a), (ii) the Class B Servicing Fee shall be payable solely to the extent amounts are available for distribution in respect thereof pursuant to SECTION 4.05(b)(ii), 4.07(c) or 4.08(b), and (iii) the Collateral Servicing Fee shall be payable solely to the extent amounts are not paid available for distribution in full respect thereof pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor CertificatesSECTION 4.05(c)(i) or 4.07(f).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (National City Credit Card Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182009-8 2 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182009-8 2 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182009-8 2 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iv LLC)

Servicing Compensation. A monthly servicing fee for your series (the "Monthly Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Collection Period (or portion thereof) occurring prior to the first Distribution Date on which the Invested Amount is zero, in an amount equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) the product of (i) the Series 2000-3 Allocation Percentage and (ii) the Pool Balance as of the last day of the second Collection Period preceding such Distribution Date. The share of the Monthly Servicing Fee allocable to the Series 20182000-8 3 Certificateholders with respect to any Distribution Date (the "Certificateholders' Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly second Collection Period second preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit and shall be payable in the Special Funding Account as manner set forth in Section 4.6 and Section 4.10; provided, however, that with respect to the first Distribution Date for Series 2000-3, clause (b) of this sentence shall be deemed to refer to the Invested Amount on the Closing Date. Notwithstanding the foregoing, with respect to the first Distribution Date for Series 2000-3, each reference in the preceding sentences of this Section to one-twelfth shall be deemed to be replaced by a fraction, the numerator of which is the number of days from but excluding the Closing Date to and including the last day of the Monthly Period preceding such Distribution month in which the Closing Date occurs and the Series 2018-8 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) denominator of which is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount360. The remainder of the Monthly Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) Seller and in no event shall the Trust, the Trustee or the Series 20182000-8 3 Certificateholders be liable for the share of the Monthly Servicing Fee to be paid by the Seller; and the remainder of the Servicing Fee shall be paid by the Seller and the Investor Certificateholders of other Series, the Trustee and the Series 2000-3 Certificateholders shall in no event be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Seller or the investor certificateholders Investor Certificateholders of any other Series. To The Certificateholders' Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution in accordance with the terms of this Series Supplement or to the extent that amounts may be netted with respect thereto in accordance with the Class A terms of this Series Supplement or the Agreement. The Servicer shall be permitted, in its sole discretion, to waive the Monthly Servicing Fee for any Distribution Date, in whole or in part, by notice to the Trustee on or before the related Determination Date; provided that the Servicer reasonably believes that sufficient Non-Principal Collections shall be available on any future Distribution Date to pay the waived portion of Monthly Servicing Fee. The waived portion of such Monthly Servicing Fee shall be paid on a future Distribution Date to the extent amounts are available therefor pursuant to Section 4.10(a) or to the extent that amounts may be netted with respect thereto in accordance with the terms of this Series Supplement or the Agreement; provided, however, that, to the extent any such waived Monthly Servicing Fee is so paid, the Class B related portion of the Monthly Servicing Fee and to be paid by the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they Seller shall be paid by the Holders Seller to the Servicer. If the Servicer is DFS, and payment of any portion of the Transferor CertificatesMonthly Servicing Fee to DFS on a Distribution Date would require a withdrawal from the Reserve Fund, then absent affirmative notice to the Trustee by DFS to the contrary, DFS shall be deemed to have waived payment of that portion on that Distribution Date; provided that a deemed waiver described in this sentence shall not occur on more than two Distribution Dates in any twelve month period and shall not occur on any two consecutive Distribution Dates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Distribution Financial Services Floorplan Master Trust)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182008-8 4 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182008-8 4 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.Base

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Iii LLC)

Servicing Compensation. A monthly servicing fee (the "Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Due Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Invested Amount and the CCA Invested Amount, if any, are zero, in the aggregate amount specified below. On each Distribution Date, Servicer Interchange with respect to the related Due Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Servicing Fee payable by the Series 1998-7 Certificateholders with respect to such Due Period. The share of the Servicing Fee allocable to the Series 2018-8 Class A Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class A Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Net Servicing Fee Rate and Rate, (b) (i) the Adjusted sum of the Invested Amount and the CCA Invested Amount, if any, as of the last day of the Monthly Due Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period second preceding such Distribution Date and (c) the Series 2018-8 Allocation Class A Invested Percentage with respect to such Distribution Date; provided, however, with respect to the first Distribution Date, the Class A Monthly Servicing Fee shall be equal to the Servicing Fee accrued on the Class A Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs the Class A Monthly Servicing Fee shall be increased by an amount equal to the product of (a) the amount calculated pursuant to this clause Net Servicing Fee Rate, (b) a fraction, the numerator of which is referred 30 minus the actual number of days in the period from and including the fifteenth day of the calendar month in which such Additional Issuance Date occurs to as but excluding such Additional Issuance Date and the “Servicing Base Amount”)denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class A Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Class A B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class A B Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating PercentageNet Servicing Fee Rate, (b) the Servicing Fee Rate sum of the Invested Amount and the CCA Invested Amount, if any, as of the last day of the Due Period second preceding such Distribution Date and (c) the Class B Invested Percentage with respect to such Distribution Date; provided, however, with respect to the first Distribution Date, the Class B Monthly Servicing Base AmountFee shall be equal to the Servicing Fee accrued on the Class B Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs, the Class B Monthly Servicing Fee shall be increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is 30 minus the actual number of days in the period from and including the fifteenth day of the calendar month in which such Additional Issuance Date occurs to but excluding such Additional Issuance Date and the denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class B Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable allocable, on a pro rata basis, to the Class B Certificateholders Cash Collateral Depositor and each Additional Cash Collateral Depositor (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date relating to the Early Amortization Period, following the Distribution Date on which the Class A Invested Amount and the Class B Invested Amount are paid in full (the “Class B "CCA Monthly Servicing Fee”) "), shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Net Servicing Fee Rate and (cb) the Servicing Base CCA Invested Amount. The share , if any, as of the Monthly last day of the Due Period second preceding such Distribution Date. On each Distribution Date, the Sellers shall pay a portion of the Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be related Due Period in an amount equal to one-twelfth of the product of the (a) Collateral Floating Percentagethe Servicing Fee Rate, (b) the Servicing Fee Rate Sellers' Participation Amount as of the last day of the Due Period second preceding such Distribution Date (or, if a Lump Addition occurs or a removal of Accounts pursuant to Section 2.10 of the Agreement occurs in the following Due Period, the weighted average of the Sellers' Participation Amount on the date on which such Lump Addition or removal of Accounts occurs (after giving effect thereto) and the last day of the second preceding Due Period) and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in 1998-7 Allocation Percentage for the related Supplements) and in Due Period. In no event shall the Trust, the Trustee or Trustee, the Series 20181998-8 Certificateholders 7 Certificateholders, the Cash Collateral Depositor or any Additional Cash Collateral Depositor be liable for the share of the Servicing Fee to be paid by the Holders of Sellers. (i) Class A Monthly Servicing Fee shall be payable to the Transferor Certificates or the investor certificateholders of any other Series. To Servicer solely to the extent that amounts are available for distribution pursuant to Section 4.06(a)(iii) or (c)(iii), as the Class A Servicing Feecase may be, the (ii) Class B Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution pursuant to Section 4.06(b)(ii) or (d)(ii), as the case may be, and the Collateral (iii) CCA Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are not paid in full available for distribution pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.09(e).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citibank South Dakota N A)

Servicing Compensation. A monthly servicing fee (the "Servicing Fee") shall be payable to the Servicer, in arrears, on each Distribution Date in respect of any Due Period (or portion thereof) occurring prior to the earlier of the first Distribution Date following the Termination Date and the first Distribution Date on which the Invested Amount and the CCA Invested Amount, if any, are zero, in the aggregate amount specified below. On each Distribution Date, Servicer Interchange with respect to the related Due Period that is on deposit in the Collection Account shall be withdrawn from the Collection Account and paid to the Servicer in payment of a portion of the Servicing Fee payable by the Series 1998-1 Certificateholders with respect to such Due Period. The share of the Servicing Fee allocable to the Series 2018-8 Class A Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class A Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Net Servicing Fee Rate and Rate, (b) (i) the Adjusted sum of the Invested Amount and the CCA Invested Amount, if any, as of the last day of the Monthly Due Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period second preceding such Distribution Date and (c) the Series 2018-8 Allocation Class A Invested Percentage with respect to such Distribution Date; provided, however, with respect to the first Distribution Date, the Class A Monthly Servicing Fee shall be equal to the Servicing Fee accrued on the Class A Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs the Class A Monthly Servicing Fee shall be increased by an amount equal to the product of (a) the amount calculated pursuant to this clause Net Servicing Fee Rate, (b) a fraction, the numerator of which is referred 30 minus the actual number of days in the period from and including the fifteenth day of the calendar month in which such Additional Issuance Date occurs to as but excluding such Additional Issuance Date and the “Servicing Base Amount”)denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class A Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable to the Class A B Certificateholders (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date (the "Class A B Monthly Servicing Fee") shall be equal to one-twelfth of the product of (a) the Class A Floating PercentageNet Servicing Fee Rate, (b) the Servicing Fee Rate sum of the Invested Amount and the CCA Invested Amount, if any, as of the last day of the Due Period second preceding such Distribution Date and (c) the Class B Invested Percentage with respect to such Distribution Date; provided, however, with respect to the first Distribution Date, the Class B Monthly Servicing Base AmountFee shall be equal to the Servicing Fee accrued on the Class B Initial Invested Amount at the Net Servicing Fee Rate for the period from the Closing Date to but excluding the first Distribution Date, calculated on the basis of a 360-day year of twelve 30-day months and provided further, that with respect to the first Distribution Date of the related Due Period in which an Additional Issuance Date occurs, the Class B Monthly Servicing Fee shall be increased by an amount equal to the product of (a) the Net Servicing Fee Rate, (b) a fraction, the numerator of which is 30 minus the actual number of days in the period from and including the fifteenth day of the calendar month in which such Additional Issuance Date occurs to but excluding such Additional Issuance Date and the denominator of which is 360, times (c) the increase in the Invested Amount after giving effect to the related Additional Issuance and (d) the Class B Invested Percentage with respect to such Distribution Date. The share of the Monthly Servicing Fee allocable allocable, on a pro rata basis, to the Class B Certificateholders Cash Collateral Depositor and each Additional Cash Collateral Depositor (after giving effect to the distribution of Servicer Interchange, if any, to the Servicer) with respect to any Distribution Date relating to the Early Amortization Period, following the Distribution Date on which the Class A Invested Amount and the Class B Invested Amount are paid in full (the “Class B "CCA Monthly Servicing Fee”) "), shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Net Servicing Fee Rate and (cb) the Servicing Base CCA Invested Amount. The share , if any, as of the Monthly last day of the Due Period second preceding such Distribution Date. On each Distribution Date, the Sellers shall pay a portion of the Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be related Due Period in an amount equal to one-twelfth of the product of the (a) Collateral Floating Percentagethe Servicing Fee Rate, (b) the Servicing Fee Rate Sellers' Participation Amount as of the last day of the Due Period second preceding such Distribution Date (or, if a Lump Addition occurs or a removal of Accounts pursuant to Section 2.10 of the Agreement occurs in the following Due Period, the weighted average of the Sellers' Participation Amount on the date on which such Lump Addition or removal of Accounts occurs (after giving effect thereto) and the last day of the second preceding Due Period) and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in 1998-1 Allocation Percentage for the related Supplements) and in Due Period. In no event shall the Trust, the Trustee or Trustee, the Series 20181998-8 Certificateholders 1 Certificate-holders, the Cash Collateral Depositor or any Additional Cash Collateral Depositor be liable for the share of the Servicing Fee to be paid by the Holders of Sellers. (i) Class A Monthly Servicing Fee shall be payable to the Transferor Certificates or the investor certificateholders of any other Series. To Servicer solely to the extent that amounts are available for distribution pursuant to Section 4.06(a)(iii) or (c)(iii), as the Class A Servicing Feecase may be, the (ii) Class B Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are available for distribution pursuant to Section 4.06(b)(ii) or (d)(ii), as the case may be, and the Collateral (iii) CCA Monthly Servicing Fee shall be payable to the Servicer solely to the extent amounts are not paid in full available for distribution pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates4.09(e).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citibank South Dakota N A)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 2018-8 Certificateholders with respect to any Distribution Date monthly servicing fee (the "Monthly Servicing Fee") shall be payable to the Servicer, in arrears, on each Payment Date in respect of any Collection Period (or portion thereof) occurring prior to the earlier of the first Payment Date following the Final Maturity Date and the first Payment Date on which the Invested Amount is zero, in an amount equal to one-twelfth (1/12) of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount Series Allocation Percentage of the Pool Balance as of the last day of the Monthly second Collection Period preceding such Distribution Payment Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage or with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to first Payment Date, as of 11 the “Servicing Base Amount”Closing Date). The share of the Monthly Servicing Fee allocable to the Class Series 2003-VFN-A Certificateholders Holders with respect to any Distribution Payment Date (the “Class A "Noteholders' Monthly Servicing Fee") shall be equal to one-twelfth (1/12) of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (cb) the Invested Amount as of the last day of the Collection Period second preceding such Payment Date; provided, however, that with respect to the first Payment Date, the Noteholders' Monthly Servicing Base AmountFee shall be equal to $166,667. The remainder of the Monthly Servicing Fee shall be paid by the Certificateholder and in no event shall the Trust, the Owner Trustee, the Indenture Trustee or the Series 2003-VFN-A Holders be liable for the share of the Monthly Servicing Fee allocable to be paid by the Class B Certificateholders with respect to any Distribution Date (Certificateholders; and the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of Certificateholders and the Transferor Certificates or the investor certificateholders Noteholders of other Series (as provided in and the related Supplements) and Series 2003-VFN-A Holders shall in no event shall the Trust, the Trustee or the Series 2018-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates Certificateholders or the investor certificateholders Noteholders of any other Series. To The Noteholders' Monthly Servicing Fee shall be payable to the Servicer solely to the extent that amounts are available for distribution in accordance with the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions terms of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor CertificatesSeries Supplement.

Appears in 1 contract

Samples: Indenture Supplement (Wodfi LLC)

Servicing Compensation. The share of the Servicing Fee allocable to the Series 20182014-8 3 Certificateholders with respect to any Distribution Date (the “Monthly Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of the last day of the Monthly Period preceding such Distribution Date minus (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 20182014-8 3 Allocation Percentage with respect to such Monthly Period (the amount calculated pursuant to this clause (b) is referred to as the “Servicing Base Amount”). The share of the Monthly Servicing Fee allocable to the Class A Certificateholders with respect to any Distribution Date (the “Class A Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class A Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) shall be equal to one-twelfth of the product of (a) the Class B Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 20182014-8 3 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full pursuant to the preceding provisions of this Section 3.01, and Sections 4.05 and 4.07, they shall be paid by the Holders of the Transferor Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (American Express Receivables Financing Corp Ii)

Servicing Compensation. As consideration for servicing the Mortgage Loans, the Owner shall pay the Servicer the applicable Servicing Fee and Other Fees the Servicer is entitled to each month. The share obligation of the Owner to pay the Servicing Fee allocable and Other Fees with regard to the Series 2018-8 Certificateholders Mortgage Loans shall be irrespective of Monthly Payments collected by the Servicer on the Mortgage Loans (but this shall not be construed to limit the effect of any provision hereof, including Exhibit 9, for the calculation of any fee by reference to one or more specified amounts collected on or in respect of the Mortgage Loans). Notwithstanding anything in this Agreement to the contrary, the Servicer shall not be entitled to collect more than one of any of the following Other Fees within any eighteen (18) month period: Liquidation Fee, Reperformance Fee and Modification Fee; provided, however, that in the event the Servicer would otherwise be entitled to collect more than one of such Other Fees during any eighteen (18) month period, the Servicer shall be entitled to collect the highest of such Other Fees, net of any other such Other Fees paid during the applicable eighteen (18) month period. The Servicer shall deliver to the Owner on the tenth (10th) calendar day of each month or, if the 10th day is not a Business Day, the next succeeding Business Day, an invoice setting forth the Servicing Fees and Other Fees, including accrued and unpaid Servicing Fees and Other Fees, with respect to any Distribution Date the Mortgage Loans serviced by the Servicer during the preceding calendar month, and the Owner shall pay such invoice via wire transfer (in accordance with written instructions to be provided by the “Monthly Servicing Fee”Servicer) shall be equal to one-twelfth of the product of (a) the Servicing Fee Rate and (b) (i) the Adjusted Invested Amount as of no later than the last day of the Monthly Period preceding calendar month in which such Distribution invoice was delivered. With respect to amounts due to the Servicer that remain unpaid after the Remittance Date minus pursuant to this Section, interest shall accrue at an annual rate equal to the Prime Rate, adjusted as of the date of each change, plus one percentage point, but in no event greater than the maximum amount permitted by applicable law. Such interest shall accrue from and including the day following the Business Day on which such payment was due to and including the Business Day when such payment is made and shall be payable on the date when such payment is so made. The Servicer shall be entitled to deduct such unpaid amounts due to Servicer on the Remittance Date following the Remittance Date that such amounts were due if Owner has not already made payment. Additional servicing compensation in the form of Ancillary Income shall be retained by the Servicer. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder and shall not be entitled to reimbursement thereof except as specifically provided for herein. Notwithstanding anything set forth in this section related to Ancillary Income, the Servicer shall not collect from the Mortgagor, pass through as an advance or as a liquidation expense any charges other than bona fide fees, which fees must be in compliance with local law. Servicer cannot add on a processing, or review fee or any additional fee, mxxx up or otherwise directly make a profit on or from services or activities rendered by a third party or affiliate (examples include but not limited to: letters and notices, force placed insurance, BPOs, appraisals, inspections, property preservation costs). The Servicer may collect any third party fees which are charged in accordance with Accepted Servicing Practices. In no event shall Servicer retain the Prepayment Penalties. In the event of a dispute arising from any act or omission by the Servicer or the Owner hereunder during the course of this Agreement, the Servicer and the Owner shall use reasonable efforts to cooperate with each other in good faith to resolve such dispute within a time period that is reasonable under the circumstances surrounding the dispute. Except in the case of a monetary error, the Owner and the Servicer shall use reasonable efforts to cooperate with each other in good faith to resolve the dispute within thirty (30) days of a formal notice from either party. In the case of a monetary error, the party holding the amounts due the other party shall use reasonable efforts to submit the amount in error within ten (10) Business Days following the discovery of the error. With respect to amounts due a party after the tenth (10th) Business Day following the discovery of the error, interest shall be accrue on such late payment at an annual rate equal to the federal funds rate as is publicly announced from time to time, plus three hundred basis points (3.00%), but in no event greater than the maximum amount permitted by applicable law. Such interest shall accrue from and including the day following the Business Day on which such payment was due to and including the Business Day when such late payment is made and shall be payable on the date when such late payment is so made. Notwithstanding anything to the contrary contained herein, upon the written request (a “Fee Negotiation Request”) of the Owner or the Servicer following a determination by the Owner or the Servicer that the rates of compensation payable to the Servicer hereunder differ materially from market rates of compensation for services comparable to those provided hereunder, which request includes a proposal for revised rates of compensation hereunder, the parties hereto shall negotiate in good faith to amend the provisions of this Agreement relating to the compensation of the Servicer in order to cause such compensation to be materially consistent with market rates of compensation for services comparable to those provided hereunder (a “Fee Amendment”); provided, however, that no such request shall be made until the second anniversary of the effective date of this Agreement, after which time each party may make such request (i) once with respect to fees to be paid during the remainder of the Initial Term, which request shall be made prior to the expiration of the Initial Term, and (ii) the product of the amount, if any, on deposit in the Special Funding Account as of the last day of the Monthly Period preceding such Distribution Date and the Series 2018-8 Allocation Percentage once with respect to fees to be paid during any Automatic Renewal Term, which request shall be made at least 210 days prior to the start of such Monthly Period Automatic Renewal Term. If the parties are unable to reach agreement on the terms of a Fee Amendment within thirty (the amount calculated pursuant to this clause (b30) is referred to as the “Servicing Base Amount”). The share days of the Monthly Servicing date of delivery of the relevant Fee allocable Negotiation Request, then the terms of such Fee Amendment shall be determined by final and binding arbitration as described below. All disputes, differences and controversies of the Owner or the Servicer relating to the Class A Certificateholders with respect to any Distribution Date a Fee Amendment (the individually, a Class A Servicing FeeDispute” and, collectively, “Disputes”) shall be equal resolved by final and binding arbitration administered by the American Arbitration Association (“AAA”) under its Commercial Arbitration Rules, subject to one-twelfth of the product of following provisions: (a) Following the Class A Floating Percentagedelivery of a written demand for arbitration by either the Owner or the Servicer, each party shall choose one (1) arbitrator within ten (10) Business Days after the date of such written demand and the two chosen arbitrators shall mutually, within ten (10) Business Days after selection select a third (3rd) arbitrator (each, an “Arbitrator” and together, the “Arbitrators”), each of whom shall be a retired judge selected from a roster of arbitrators provided by the AAA. If the third (3rd) Arbitrator is not selected within fifteen (15) Business Days after delivery of the written demand for arbitration (or such other time period as the Owner and the Servicer may agree), the Owner and the Servicer shall promptly request that the commercial panel of the AAA select an independent Arbitrator meeting such criteria. (b) The rules of arbitration shall be the Servicing Fee Rate Commercial Rules of the American Arbitration Association; provided, however, that notwithstanding any provisions of the Commercial Arbitration Rules to the contrary, unless otherwise mutually agreed to by the Owner and the Servicer, the sole discovery available to each party shall be its right to conduct up to two (2) non-expert depositions of no more than three (3) hours of testimony each. (c) The Arbitrators shall render a decision by majority decision within three (3) months after the Servicing Base Amountdate of appointment, unless the Owner and the Servicer agree to extend such time. The share of the Monthly Servicing Fee allocable to the Class B Certificateholders with respect to any Distribution Date (the “Class B Servicing Fee”) decision shall be equal to one-twelfth of final and binding upon the product of (a) Owner and the Class B Floating PercentageServicer; provided, (b) however, that such decision shall not restrict either the Servicing Fee Rate and (c) the Servicing Base Amount. The share of the Monthly Servicing Fee allocable to the Collateral Interest with respect to any Distribution Date (the “Collateral Servicing Fee”) shall be equal to one-twelfth of the product of the (a) Collateral Floating Percentage, (b) the Servicing Fee Rate and (c) the Servicing Base Amount. The remainder of the Servicing Fee shall be paid by the Holders of the Transferor Certificates Owner or the investor certificateholders of other Series (as provided in the related Supplements) and in no event shall the Trust, the Trustee or the Series 2018-8 Certificateholders be liable for the share of the Servicing Fee to be paid by the Holders of the Transferor Certificates or the investor certificateholders of any other Series. To the extent that the Class A Servicing Fee, the Class B Servicing Fee and the Collateral Servicing Fee are not paid in full Servicer from terminating this Agreement pursuant to the preceding provisions terms hereof. (d) Each party shall pay its own expenses in connection with the resolution of Disputes, including attorneys’ fees, unless determined otherwise by the Arbitrator. (e) The Owner and the Servicer agree that the existence, conduct and content of any arbitration pursuant to this Section 3.01, and Sections 4.05 and 4.07, they 7.01 shall be paid kept confidential and neither the Owner nor the Servicer shall disclose to any Person any information about such arbitration, except in connection with such arbitration or as may be required by the Holders of the Transferor Certificateslaw or by any regulatory authority (or any exchange on which such party’s securities are listed) or for financial reporting purposes in such party’s financial statements.

Appears in 1 contract

Samples: Flow Servicing Agreement (PennyMac Mortgage Investment Trust)

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