Common use of Servicing Fee Rates Clause in Contracts

Servicing Fee Rates. The servicing rates used to calculate the Servicing Fee shall be set forth on a Servicing Fee Schedule. At the request of either the Servicer or the Subservicer, but no more frequently than twice in a 12 month period, the Servicer or the Subservicer may request a new Servicing Fee Schedule in order to reflect servicing fee rates consistent with the composition of the Program Receivables and market rates for servicing similar financial assets. For the avoidance of doubt, each new Servicing Fee Schedule will supersede and replace any and all previously executed and delivered Servicing Fee Schedule(s). If the Servicer and the Subservicer are unable to agree on a new Servicing Fee Schedule within 30 days of the initiation of a request for a new Servicing Fee Schedule, either party may deliver written notice to the other party of its intention to consult a third-party (such as an accounting or consulting firm) (each, a “Fee Advisor”) to provide data on the appropriate market rate at the time of such dispute. For the avoidance of doubt, either party may consult one Fee Advisor regardless of whether another Fee Advisor has already been consulted by the other party. If the Servicer and the Subservicer are unable to agree on a new Servicing Fee Schedule within 30 days after any Fee Advisor has provided its analysis, this Agreement shall terminate in accordance with Section 7.4.