Advisor Refund definition

Advisor Refund has the meaning set forth in Section 6.2.1(2) of this Agreement.
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Examples of Advisor Refund in a sentence

  • Any required adjustments to the Second-Tier Management Compensation or the Advisor Refund shall be paid by the Company to the Advisor or by the Advisor to the Company, respectively, within 15 days after delivery of such computation to the Company by the Advisor, without demand, deduction, offset or delay (other than any deduction or offset for the liquidated sum of any Advisor Refund).

  • Notwithstanding anything to the contrary, the Company shall not have any right to offset any amount whatsoever from any payments in Sections 6, 7, 10, 11 or otherwise and the Company’s obligation to make such payments shall survive the termination of this Agreement, except that the Company shall have the right to offset against the liquidated sum of any Advisor Refund.

  • The Advisor shall pay the Advisor Refund, if any, with respect to a particular fiscal year within 15 days following the delivery to the Company of the written statement setting forth the computation of the Second-Tier Management Compensation for such year (or lesser portion thereof), without demand or delay.

  • The Company shall pay any amount payable pursuant to this Section 6.1 for such month within 15 days after the receipt of the written statement setting forth the computation of the First-Tier Management Compensation, or, at the Advisor’s election, the Advisor may deduct such amount from the Company’s account or accounts, in any case without demand, deduction, offset or delay (other than any deduction or offset for the liquidated sum of any Advisor Refund).

  • In connection with the Company’s annual audit (or any audit upon termination of this Agreement), the Advisor shall determine any year-end adjustments to the Second-Tier Management Compensation and Advisor Refund payable under this Section 6.2 and deliver to the Company a written statement setting forth such computation within 90 days after the end of each fiscal year.

  • The Advisor shall calculate the Second-Tier Management Compensation, the Second-Tier Amount, any Remaining Amount and any Advisor Refund and deliver to the Company a written statement setting forth such computation in reasonable detail within 15 days after the end of each month, fiscal year and after the date of any termination of this Agreement, as applicable.

  • The Advisor shall pay the Advisor Refund, if any, with respect to a particular fiscal year within 15 days following the delivery to the Company of the written statement setting forth the computation of the Incentive Management Compensation for such year (or lesser portion thereof), without demand or delay.

  • The Company shall pay any amount payable pursuant to this Section 6.1 for such quarter within 15 days after the receipt of the written statement setting forth the computation of the Base Management Compensation, or, at the Advisor's election, the Advisor may deduct such amount from the Company's account or accounts, in any case without demand, deduction, offset or delay (other than any deduction or offset for the liquidated sum of any Advisor Refund).

  • In connection with the Company's annual audit (or any audit upon termination of this Agreement), the Advisor shall determine any year-end adjustments to the Incentive Management Compensation and Advisor Refund payable under this Section 6.2 and deliver to the Company a written statement setting forth such computation within 45 days after the end of each fiscal year.

  • Any required adjustments to the Incentive Management Compensation or the Advisor Refund shall be paid by the Company to the Advisor or by the Advisor to the Company, respectively, within 15 days after delivery of such computation to the Company by the Advisor, without demand, deduction, offset or delay (other than any deduction or offset for the liquidated sum of any Advisor Refund).

Related to Advisor Refund

  • Excess Servicing Fee Right With respect to each Mortgage Loan (including an REO Mortgage Loan with respect thereto), the right to receive Excess Servicing Fees. In the absence of any transfer of the Excess Servicing Fee Right, the Master Servicer shall be the owner of such Excess Servicing Fee Right.

  • Operating Advisor Fee With respect to any Mortgage Loan (or any successor REO Mortgage Loan with respect thereto) and any Distribution Date, an amount accrued during the related Interest Accrual Period at the applicable Operating Advisor Fee Rate on, in the case of the initial Distribution Date, the Cut-Off Date Balance of such Mortgage Loan and, in the case of any subsequent Distribution Date, the Stated Principal Balance of such Mortgage Loan as of the close of business on the Distribution Date in the related Interest Accrual Period; provided that such amounts shall be computed for the same period and on the same interest accrual basis respecting which any related interest payment due or deemed due on the related Mortgage Loan is computed and shall be prorated for partial periods. Such fee shall be in addition to, and not in lieu of, any other fee or other sum payable to the Operating Advisor under this Agreement. For the avoidance of doubt, the Operating Advisor Fee shall be payable from the Lower-Tier REMIC.

  • Operating Advisor Consulting Fee A fee for each Major Decision on which the Operating Advisor has consultation rights equal to $10,000 or such lesser amount as the related Mortgagor pays with respect to any Serviced Mortgage Loan (or Serviced Loan Combination, if applicable), payable pursuant to Section 3.06(a) and Section 3.06A(a) of this Agreement; provided, that the Operating Advisor Consulting Fee shall be payable only to the extent such fee is actually received from the related Mortgagor as a separately identifiable fee; provided, further that the Operating Advisor may in its sole discretion reduce the Operating Advisor Consulting Fee with respect to any Major Decision; and provided, further that the Master Servicer or Special Servicer, as applicable, may waive or reduce the amount of any Operating Advisor Consulting Fee payable by the related Mortgagor if it determines that such full or partial waiver is in accordance with the Servicing Standard (provided that the Master Servicer or the Special Servicer, as applicable, shall consult with the Operating Advisor on a non-binding basis prior to any such waiver or reduction).

  • Special Servicing Fee shall have the meaning given to such term in the Servicing Agreement.

  • Professional Fee Escrow Amount means the aggregate amount of Professional Fee Claims and other unpaid fees and expenses Professionals estimate they have incurred or will incur in rendering services to the Debtors prior to and as of the Confirmation Date, which estimates Professionals shall deliver to the Debtors as set forth in Article II.C of the Plan.

  • Excess Servicing Fees With respect to each Mortgage Loan (including an REO Mortgage Loan), that portion of the Servicing Fee that accrues at a per annum rate equal to the Excess Servicing Fee Rate.

  • Excess Servicing Fee For each calendar month, as to each Mortgage Loan, the portion of the related Excess Servicing Fee Rate applicable to such month (determined in the same manner as the applicable Mortgage Rate determined for such Mortgage Loan for such month) multiplied by the Scheduled Principal Balance of such Mortgage Loan immediately before the Due Date occurring in such month, but prorated for the number of days during the calendar month for such Mortgage Loan for which interest actually accrues on such Mortgage Loan and only from collections on such Mortgage Loan.

  • Excess Fraud Loss Any Fraud Loss, or portion thereof, which exceeds the then applicable Fraud Loss Amount.

  • Special Servicing Fees shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Master Servicing Fee As to any Distribution Date, an amount equal to one-twelfth the product of (a) the Master Servicing Fee Rate and (b) the outstanding principal balance of each Mortgage Loan. Master Servicing Fee Rate: 0.00% per annum.

  • Operating Advisor Fee Rate With respect to each Interest Accrual Period, a rate equal to 0.00125% per annum.

  • Asset Management Fee shall have the meaning set forth in Section 8.02.

  • Excess Bankruptcy Loss Any Bankruptcy Loss, or portion thereof, which exceeds the then applicable Bankruptcy Amount.

  • Fund/SERV Eligible Unit Servicing Agent means FTP Services LLC or any successor Fund/SERV Eligible Unit servicing agent appointed as hereinafter provided."

  • Investor Servicing Fee means, with respect to any Distribution Date, an amount equal to the product of the Investor Servicing Fee Percentage and the Series Investor Interest on the first day of the Due Period related to such Distribution Date (or in the case of the first Distribution Date for the Series established hereby, the Series Initial Investor Interest).

  • LPMI Fee With respect to each LPMI Loan, the portion of the Mortgage Interest Rate as set forth on the related Mortgage Loan Schedule (which shall be payable solely from the interest portion of Monthly Payments, Insurance Proceeds, Condemnation Proceeds or Liquidation Proceeds), which, during such period prior to the required cancellation of the LPMI Policy, shall be used to pay the premium due on the related LPMI Policy.

  • Collateral Management Fee means each of the Senior Management Fee, the Subordinated Management Fee and the Incentive Collateral Management Fee.

  • Permitted Special Servicer/Affiliate Fees Any commercially reasonable treasury management fees, banking fees, title insurance and/or other insurance commissions and fees, title agency fees, and appraisal review fees received or retained by the Special Servicer or any of its Affiliates in connection with any services performed by such party with respect to any Serviced Loan or REO Property, in each case, in accordance with Article III of this Agreement.

  • Transaction Fees means fees paid or payable by the Service Recipients, which are on market terms, with respect to financial advisory services ordinarily carried out by investment banks in the context of mergers and acquisitions transactions.

  • Excess Servicing Fee Rate The rate of 0.0% per annum with respect to each Mortgage Loan.

  • Penalty Charges means any amounts collected from the Borrower that represent default charges, penalty charges, late fees and/or default interest, but excluding any yield maintenance charge or prepayment premium.

  • Special Servicing Fee Rate With respect to each Specially Serviced Mortgage Loan and each REO Loan, 0.25% per annum.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

  • Fraud Loss Amount As of any date of determination after the Cut-off Date, an amount equal to: (X) prior to the first anniversary of the Cut-off Date an amount equal to 3.00% of the aggregate outstanding principal balance of all of the Mortgage Loans as of the Cut-off Date minus the aggregate amount of Fraud Losses allocated solely to one or more specific Classes of Certificates in accordance with Section 4.05 of this Series Supplement since the Cut-off Date up to such date of determination, (Y) from the first to, but not including, the second anniversary of the Cut-off Date, an amount equal to (1) the lesser of (a) the Fraud Loss Amount as of the most recent anniversary of the Cut-off Date and (b) 2.00% of the aggregate outstanding principal balance of all of the Mortgage Loans as of the most recent anniversary of the Cut-off Date minus (2) the aggregate amount of Fraud Losses allocated solely to one or more specific Classes of Certificates in accordance with Section 4.05 since the most recent anniversary of the Cut-off Date up to such date of determination, and (Z) from the second to, but not including, the fifth anniversary of the Cut-off Date, an amount equal to (1) the lesser of (a) the Fraud Loss Amount as of the most recent anniversary of the Cut-off Date and (b) 1.00% of the aggregate outstanding principal balance of all of the Mortgage Loans as of the most recent anniversary of the Cut-off Date minus (2) the aggregate amount of Fraud Losses allocated solely to one or more specific Classes of Certificates in accordance with Section 4.05 since the most recent anniversary of the Cut-off Date up to such date of determination. On and after the fifth anniversary of the Cut-off Date, the Fraud Loss Amount shall be zero. The Fraud Loss Amount may be further reduced by the Master Servicer (including accelerating the manner in which such coverage is reduced) provided that prior to any such reduction, the Master Servicer shall (i) obtain written confirmation from each Rating Agency that such reduction shall not reduce the rating assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency and (ii) provide a copy of such written confirmation to the Trustee.