Backup Servicer Expenses definition

Backup Servicer Expenses means the out-of-pocket expenses to be paid to the Backup Servicer under the Backup Servicing Agreement.

Backup Servicer Expenses is defined in Section 4.12 of the Sale and Servicing Agreement.

Backup Servicer Expenses means (i) any reasonable and documented out-of-pocket expenses incurred in taking any actions required in its role as Backup Servicer and (ii) any indemnities owed to the Backup Servicer in accordance with the Servicing Agreement.

Examples of Backup Servicer Expenses in a sentence

• Distributions of Backup Servicer Expenses shall be made in accordance with Section 5.13.

• On each Payment Date to the extent that any Backup Servicer Expenses are then due and payable, the Servicer will instruct the Indenture Trustee in writing to withdraw an amount equal to such Backup Servicer Expenses then due and payable, and distribute such amount to the Person entitled thereto.

• The Backup Servicer shall further receive all reimbursable Backup Servicer Expenses in accordance with the terms of the Sale and Servicing Agreement and the Indenture.

• The Backup Servicer shall be entitled to recover its costs thereby expended as Backup Servicer Expenses in accordance with the Sale and Servicing Agreement and the Indenture.

• The foregoing Grant is made to secure the Seller’s obligation to make funds available in the Backup Servicer Account available to the Indenture Trustee to pay Backup Servicer Expenses.

More Definitions of Backup Servicer Expenses

Backup Servicer Expenses. The reasonable out-of-pocket expenses to be paid to the Backup Servicer under and in accordance with the Backup Servicer and Collateral Custodian Fee Letter.

Backup Servicer Expenses means the out-of-pocket expenses to be paid to the Backup Servicer under the Backup Servicing Agreement. “Backup Servicer Fee” means the fee to be paid to the Backup Servicer as set forth in the Backup Servicing Agreement.

Backup Servicer Expenses. The meaning ascribed to such term in Section 2.4(a)(i) of this Agreement.

Backup Servicer Expenses means the out-of-pocket expenses to be paid to the Backup Servicer under the Backup Servicer and Trustee Fee Letter. “Backup Servicer Fee” means the fee to be paid to the Backup Servicer as set forth in the Backup Servicer and Trustee Fee Letter.

Backup Servicer Expenses is defined in Section 4.12 of the Sale and Servicing Agreement.]

Backup Servicer Expenses is defined in Section 7.14.

Backup Servicer Expenses shall be paid from funds available in the Backup Servicer Account upon presentation of reasonable documentation to the Servicer. Distributions of Backup Servicer Expenses shall be made in accordance with Section 5.13. To the extent that any Backup Servicer Expenses exceed the amount on deposit in the Backup Servicer Account (any such shortfall, a “Backup Servicer Account Shortfall Amount”), the Servicer (so long as the Servicer is NH Credit) agrees, within thirty days of demand thereof, to deliver to the Indenture Trustee for deposit in the Backup Servicer Account, such Backup Servicer Account Shortfall Amount. If amounts in the Backup Servicer Account are insufficient to fully reimburse the Backup Servicer in respect of Backup Servicer Expenses, the Backup Servicer shall be reimbursed pursuant to Section 5.6(b)(x).