Common use of Subservicing Fees Clause in Contracts

Subservicing Fees. (a) As compensation for subservicing and administering the Centurion Receivables in accordance with this Agreement, the Servicer shall pay to Centurion, in immediately available funds on each Payment Date, a subservicing fee in an amount equal to $1,000 (the “Centurion Subservicing Fee”). As compensation for subservicing and administering the FSB Receivables in accordance with this Agreement, the Servicer shall pay to FSB, in immediately available funds on each Payment Date, a subservicing fee in an amount equal to $1,000 (the “FSB Subservicing Fee,” and together with the Centurion Subservicing Fee, the “Subservicing Fees”). Each Subservicing Fee may be adjusted from time to time to reflect such factors as the Servicer and the applicable Subservicer mutually agree will result in a Subservicing Fee determined to be fair consideration for the subservicing and administrative obligations performed by such Subservicer. (b) Payment of the Subservicing Fees shall be independent of, and shall not be conditioned in any way on, the receipt by the Servicer of the Servicing Fee under the Servicing Agreement or the servicing compensation described in Section 2 of this Agreement.

Appears in 2 contracts

Samples: Supplemental Servicing Agreement (American Express Receivables Financing Corp VIII LLC), Supplemental Servicing Agreement (American Express Receivables Financing Corp VIII LLC)

AutoNDA by SimpleDocs

Subservicing Fees. (a) As compensation for subservicing and administering the Centurion Receivables in accordance with this Agreement, the Servicer shall pay to Centurion, in immediately available funds on each Payment Date, a subservicing fee in an amount equal to $1,000 1000 (the "Centurion Subservicing Fee"). As compensation for subservicing and administering the FSB Receivables in accordance with this Agreement, the Servicer shall pay to FSB, in immediately available funds on each Payment Date, a subservicing fee in an amount equal to $1,000 1000 (the "FSB Subservicing Fee," and together with the Centurion Subservicing Fee, the "Subservicing Fees"). Each Subservicing Fee may be adjusted from time to time to reflect such factors as the Servicer and the applicable Subservicer mutually agree will result in a Subservicing Fee determined to be fair consideration for the subservicing and administrative obligations performed by such Subservicer. (b) Payment of the Subservicing Fees shall be independent of, and shall not be conditioned in any way on, the receipt by the Servicer of the Servicing Fee under the Transfer and Servicing Agreement or the servicing compensation described in Section 2 of this Agreement.

Appears in 1 contract

Samples: Supplemental Servicing Agreement (American Express Issuance Trust)

Subservicing Fees. (a) As compensation for subservicing and administering the Centurion Receivables in accordance with this Agreement, the Servicer shall pay to Centurion, in immediately available funds on each Payment Distribution Date, a subservicing fee in an amount equal to $1,000 (the “Centurion Subservicing Fee”). As compensation for subservicing and administering the FSB Receivables in accordance with this Agreement, the Servicer shall pay to FSB, in immediately available funds on each Payment Distribution Date, a subservicing fee in an amount equal to $1,000 (the “FSB Subservicing Fee,” and together with the Centurion Subservicing Fee, the “Subservicing Fees”). Each Subservicing Fee may be adjusted from time to time to reflect such factors as the Servicer and the applicable Subservicer mutually agree will result in a Subservicing Fee determined to be fair consideration for the subservicing and administrative obligations performed by such Subservicer. (b) Payment of the Subservicing Fees shall be independent of, and shall not be conditioned in any way on, the receipt by the Servicer of the Servicing Fee under the Pooling and Servicing Agreement or the servicing compensation described in Section 2 of this Agreement. (c) Promptly upon the execution of this Agreement, the Servicer shall pay any and all unpaid Subservicing Fees that accrued under the Original Supplemental Servicing Agreement as of the date of this Agreement.

Appears in 1 contract

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

Subservicing Fees. (a) As compensation for subservicing and administering the Centurion Receivables in accordance with this Agreement, the Servicer shall pay to Centurion, in immediately available funds on each Payment Distribution Date, a subservicing fee in an amount equal to $1,000 1000 (the "Centurion Subservicing Fee"). As compensation for subservicing and administering the FSB Receivables in accordance with this Agreement, the Servicer shall pay to FSB, in immediately available funds on each Payment Distribution Date, a subservicing fee in an amount equal to $1,000 1000 (the "FSB Subservicing Fee," and together with the Centurion Subservicing Fee, the "Subservicing Fees"). Each Subservicing Fee may be adjusted from time to time to reflect such factors as the Servicer and the applicable Subservicer mutually agree will result in a Subservicing Fee determined to be fair consideration for the subservicing and administrative obligations performed by such Subservicer. (b) Payment of the Subservicing Fees shall be independent of, and shall not be conditioned in any way on, the receipt by the Servicer of the Servicing Fee under the Pooling and Servicing Agreement or the servicing compensation described in Section 2 of this Agreement.

Appears in 1 contract

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

AutoNDA by SimpleDocs

Subservicing Fees. (a) As compensation for subservicing and administering the Centurion Receivables in accordance with this Agreement, the Servicer shall pay to Centurion, in immediately available funds on each Payment Date, a subservicing fee in an amount equal to $1,000 (the “Centurion Subservicing Fee”). As compensation for subservicing and administering the FSB Receivables in accordance with this Agreement, the Servicer shall pay to FSB, in immediately available funds on each Payment Date, a subservicing fee in an amount equal to $1,000 (the “FSB Subservicing Fee,” and together with the Centurion Subservicing Fee, the “Subservicing Fees”). Each Subservicing Fee may be adjusted from time to time to reflect such factors as the Servicer and the applicable Subservicer mutually agree will result in a Subservicing Fee determined to be fair consideration for the subservicing and administrative obligations performed by such Subservicer. (b) Payment of the Subservicing Fees shall be independent of, and shall not be conditioned in any way on, the receipt by the Servicer of the Servicing Fee under the Transfer and Servicing Agreement or the servicing compensation described in Section 2 of this Agreement. (c) Promptly upon the execution of this Agreement, the Servicer shall pay any and all unpaid Subservicing Fees accrued under the Original Supplemental Servicing Agreement as of the date of this Agreement.

Appears in 1 contract

Samples: Supplemental Servicing Agreement (American Express Issuance Trust)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!