Administrator's Fee definition

Administrator's Fee means an aggregate amount equal to (i) for each Settlement Period other than the initial Settlement Period, the product of (a) the outstanding weighted average Principal Balance of all Pledged Student Loans during such Settlement Period multiplied by (b) 0.0083% and (ii) for the initial Settlement Period, the product of (a) the outstanding weighted average Principal Balance of all Pledged Student Loans during such Settlement Period multiplied by (b) 0.0083% multiplied by (c) a fraction equal to the number of days in the initial Settlement Period divided by 30; in each case, payable to the Master Servicer and/or the Sub-Servicers pursuant to Section 3.03(b) and the provisions of Section 12.21 of the Agreement.

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Administrator's Fee. The fee payable to the Administrator on each ------------------- Distribution Date pursuant to Section 4.2(a)(i), commencing on the Distribution Date in November 1996, in an amount (rounded to the nearest dollar) equal to one-twelfth of the product of (i) the Administrator's Fee Rate and (ii) the aggregate outstanding principal balance of the PWRES Mortgage Loans as of the immediately preceding Distribution Date. Administrator's Fee Rate: 0.0285% or 2.85 basis points. ------------------------ Advance Account: The trust account and any related subaccounts created and --------------- maintained pursuant to Section 4.7. Funds deposited in the Advance Account shall be held for the uses and purposes set forth in Section 4.7.

Administrator's Fee. For each Payment Date, a monthly fee payable to the Administrator for services rendered during the related Collection Period equal to $85.

Examples of Administrator's Fee in a sentence

• Amounts in respect of an additional payment obligation of each Swap Counterparty in respect of the Expense Administrator's Fee will be paid to the Expense Administrator.

• Amounts in respect of an additional payment obligation of the Swap Counterparty in respect of the Expense Administrator's Fee will be paid to the Expense Administrator.

• If the proceeds of liquidation exceed aggregate Unit Principal Balance of the Class A and B Units and the accrued interest on the Securities, the excess will be paid to the Swap Counterparty as a Swap Termination Payment under the Swap Agreement, other than amounts payable to the Expense Administrator in respect of the Expense Administrator's Fee.

• If the proceeds of liquidation exceed the stated principal balance of the Class A and the Class B Present Value of the Class B Units and the accrued interest on the Underlying Securities, the excess will be paid to the Swap Counterparty as a Swap Termination Payment under the Swap Agreement, other than amounts payable to the Expense Administrator in respect of the Expense Administrator's Fee.

• As compensation for its activities --------------------- and obligations hereunder, on each Distribution Date, the Administrator shall be entitled (in addition to its fee payable pursuant to Sections 4.02(c) and 6.04 (or Sections 4.2(c) and 6.4, as applicable) of the applicable Asset Issuance Agreements) to its fee hereunder in an amount equal to the Administrator's Fee, payable by Trustee pursuant to Section 4.2(c).

• The Administrator shall be required to pay such expenses for its own account and shall not be entitled to any payment therefore other than the Administrator's Fee.

• The Administrator may withdraw from the CWC account the Administrator's Fee due to the Administrator.

• Remaining accrued interest will be applied to the Expense Administrator's Fee.

• If the proceeds of liquidation exceed the claims of the Class A and B Units and the accrued interest on the Securities, the excess will be paid to the Swap Counterparty as a Swap Termination Payment under the Swap Agreement, other than amounts payable to the Expense Administrator in respect of the Expense Administrator's Fee.

• The cost for such third-party report shall be negotiated on a case-by-case basis and paid for by the Pool in addition to the Program Administrator's Fee paid pursuant to the Program Administrator Agreement.

More Definitions of Administrator's Fee

Administrator's Fee means an aggregate amount equal to (i) for each Settlement Period other than the initial Settlement Period, the product of (a) the outstanding weighted average [****] of all Pledged Student Loans during such Settlement Period multiplied by (b) [****]% and (ii) for the initial Settlement Period, the product of (a) the outstanding weighted average [****] of all Pledged Student Loans during such Settlement Period multiplied by (b) [****]% multiplied by (c) a fraction equal to the number of days in the initial Settlement Period divided by 30; in each case, payable to the Master Servicer and/or the Sub-Servicers pursuant to Section 3.03(b) and the provisions of Section 12.23 of the Agreement.