Additional Series Successor Servicer Fee definition

Additional Series Successor Servicer Fee means, for any Payment Date, the product of (i) the Series 2021-1 Group Allocated Percentage and (ii) the excess, if any, of (x) $425,000 over (y) the Servicing Fee.
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Additional Series Successor Servicer Fee has the meaning set forth in the applicable Trust Financing Agreement for a Series.
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Related to Additional Series Successor Servicer Fee

  • Successor Servicer has the meaning specified in Section 3.07(e) of the Indenture.

  • Servicing Fee As to any Distribution Date and each Mortgage Loan, an amount equal to the product of (a) one-twelfth of the Servicing Fee Rate and (b) the outstanding principal balance of such Mortgage Loan as of the first day of the related Collection Period.