Backup Servicing Expenses definition

Backup Servicing Expenses means, with respect to any Due Period on or prior to the 1995 Trust Termination Date, Backup Servicing Expenses as defined in 1995 Pooling and Servicing Agreement and, with respect to any Due Period after the 1995 Trust Termination Date, Backup Servicing Expenses as defined in the Pooling and Servicing Agreement.
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Backup Servicing Expenses means the reasonable out-of-pocket costs, expenses, disbursements and other charges incurred by the Backup Servicer in connection with the performance of its duties and obligations under the Backup Servicing Agreement and any damages or other amounts for which the Backup Servicer is entitled to indemnification pursuant to the Backup Servicing Agreement, each as expressly provided therein. For the avoidance of doubt, any set up and servicing transition fees and costs of the Backup Servicer incurred during the transition of the servicing of the Dealer Notes from the Servicer to the Backup Servicer as Successor Servicer shall not be included in Backup Servicing Expenses (such transition fees and costs to be payable as provided in the Backup Servicing Agreement).”
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Backup Servicing Expenses shall be added to Section 1.01 in proper alphabetical order to read as follows:
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Examples of Backup Servicing Expenses in a sentence

  • A portion of the Monthly Backup Servicing Expenses shall be allocated to each series of Notes in accordance with the related Indenture Supplement (the “Investor Servicing Expenses”), and such portion shall be paid in accordance with such Indenture Supplement and only to the extent of funds available for such payment pursuant to such Indenture Supplement.

  • The remainder of the Monthly Backup Servicing Expenses shall be paid by the Seller and in no event shall the Master Trust, the Master Trust Trustee or the Series 2004-1 Certificateholder be liable for the share of the Monthly Backup Servicing Expenses to be paid by the Seller.

  • The remainder of the Monthly Backup Servicing Expenses shall be paid by the Seller and in no event shall the Master Trust, the Master Trust Trustee or the Series 2000-VFC Certificateholders be liable for the share of the Monthly Backup Servicing Expenses to be paid by the Seller.

  • The Backup Servicer shall also be entitled to receive the Backup Servicing Expenses in respect of each day prior to the earlier of (i) the date on which the Backup Servicing Agreement terminates in accordance with the provisions thereof and (ii) the Final Master Trust Termination Date, payable in arrears, on each date and in the manner specified in the applicable Supplement.

  • The Investor Backup Servicing Expenses portion of the Monthly Backup Servicing Expenses shall be paid in accordance with Section 4.04(a)(viiC) but only to the extent of funds available for such payment pursuant to Section 4.04(a)(viiC).

  • The remainder of the Monthly Backup Servicing Expenses shall be paid by the Seller and in no event shall the Master Trust, the Master Trust Trustee, the Series 2011-1 Certificateholder, the Issuing Entity, the Indenture Trustee or the Owner Trustee be liable for the share of the Monthly Backup Servicing Expenses to be paid by the Seller.

  • The share of the Backup Servicing Expenses for any Series allocable to Noteholders shall be determined in accordance with the terms of the applicable Indenture Supplement.

  • The Backup Servicer shall also be entitled to receive the Backup Servicing Expenses in respect of each day prior to the earlier of (i) the date on which the Backup Servicing Agreement terminates in accordance with the provisions thereof and (ii) the Final Issuing Entity Termination Date, payable in arrears, on each date and in the manner specified in the applicable Indenture Supplement.

  • The Backup Servicing Fee and Backup Servicing Expenses are payable to the Backup Servicer solely to the extent amounts are available for payment in accordance with the terms of the Supplements and the Indenture Supplements.


More Definitions of Backup Servicing Expenses

Backup Servicing Expenses. For any Distribution Date, the reasonable out-of-pocket accrued and unpaid costs, expenses, disbursements and other charges incurred by the Backup Servicer during the related Monthly Period in connection with the performance of its backup servicing duties and obligations under the Backup Servicing Agreement and any damages or other amounts for which the Backup Servicer is entitled to indemnification pursuant to the Backup Servicing Agreement, each as expressly provided therein and to the extent not paid by the Servicer.
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Backup Servicing Expenses has the meaning specified in the Pooling and Servicing Agreement.
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Related to Backup Servicing Expenses

  • Backup Servicing Fee means, as to each Distribution Date, $4,000; provided, however, that if the Backup Servicer becomes the successor Servicer, such fee shall no longer be paid.

  • Additional Servicing Expenses means (a) all Property Protection Advances, fees and/or expenses incurred by and reimbursable to any Servicer, Trustee, Certificate Administrator or fiscal agent pursuant to the Servicing Agreement relating solely to the Mortgage Loan, and (b) all interest accrued on Advances made by (x) any Servicer or Trustee in accordance with the terms of the Servicing Agreement or (y) any Non-Lead Servicer or Non-Lead Trustee in accordance with the terms of the Non-Lead Securitization Servicing Agreement.

  • Backup Servicer Fee means the fee to be paid to the Backup Servicer as set forth in the Backup 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.

  • Backup Servicing Agreement means the Amended and Restated Backup Servicing Agreement dated as of the Closing Date among the Borrower, the Servicer, the Administrative Agent and the Backup Servicer, as amended by that certain Amendment No. 1 to Backup Servicing Agreement dated as of April 14, 2009, as the same may from time to time be further amended, restated, supplemented, waived or modified.

  • Primary Servicing Fee means, with respect to each Mortgage Loan and REO Mortgage Loan, the fee payable to the Primary Servicer pursuant to Section 3.01(c)(20) of this Agreement.

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Servicing Fee means the fee payable to the Servicer for services rendered during each Collection Period, determined pursuant to Section 4.08 of the Sale and Servicing Agreement.

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

  • Subservicing Fee As to any Mortgage Loan, the fee payable monthly to the related Subservicer (or, in the case of a Nonsubserviced Mortgage Loan, to the Master Servicer) in respect of subservicing and other compensation that accrues at an annual rate equal to the excess of the Mortgage Rate borne by the related Mortgage Note over the rate per annum designated on the Mortgage Loan Schedule as the "CURR NET" for such Mortgage Loan.

  • Monthly Servicing Fee shall have the meaning specified in subsection 3.01.

  • 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.

  • Servicing Fees With respect to each Mortgage Loan and REO Loan, the Master Servicing Fee and the Special Servicing Fee.

  • Servicing Advances All customary, reasonable and necessary "out of pocket" costs and expenses incurred in the performance by the Master Servicer of its servicing obligations, including, but not limited to, the cost of (i) the preservation, restoration and protection of a Mortgaged Property, (ii) any expenses reimbursable to the Master Servicer pursuant to Section 3.11 and any enforcement or judicial proceedings, including foreclosures, (iii) the management and liquidation of any REO Property and (iv) compliance with the obligations under Section 3.09.

  • Basic Servicing Fee means the fee payable pursuant to Section 3.09 to the Servicer on each Payment Date for services rendered during the related Collection Period, which shall be equal to one-twelfth of the Servicing Fee Rate multiplied by the Pool Balance as of the first day of the related Collection Period or, with respect to the first Payment Date, the Original Pool Balance.

  • Nonrecoverable Servicing Advance Any Servicing Advance previously made or proposed to be made in respect of a Mortgage Loan or REO Property that, in the good faith business judgment of the Master Servicer, will not or, in the case of a proposed Servicing Advance, would not be ultimately recoverable from related Late Collections, Insurance Proceeds or Liquidation Proceeds on such Mortgage Loan or REO Property as provided herein.

  • Noteholder Servicing Fee is defined in Section 3.1.

  • Special Servicer Servicing Personnel The divisions and individuals of the Special Servicer who are involved in the performance of the duties of the Special Servicer under this Agreement.

  • Servicer Fee has the meaning specified in Section 2.05(a).

  • Master Servicer Servicing Personnel The divisions and individuals of the Master Servicer who are involved in the performance of the duties of the Master Servicer under this Agreement.

  • Collateral Servicing Fee shall have the meaning set forth in Section 3.01.

  • Backup Servicer means Wxxxx Fargo Bank, National Association, in its capacity as Backup Servicer under this Agreement.

  • Servicing Transfer Costs All reasonable costs and expenses incurred by the Trustee in connection with the transfer of servicing from a predecessor servicer, including, without limitation, any costs or expenses associated with the complete transfer of all servicing data and the completion, correction or manipulation of such servicing data as may be required by the Trustee to correct any errors or insufficiencies in the servicing data or otherwise to enable the Trustee to service the Mortgage Loans properly and effectively.

  • Non-Recoverable Servicing Advance Any portion of a Servicing Advance previously made or proposed to be made by the Servicer that, in the good faith judgment of the Servicer, will not or, in the case of a current Servicing Advance, would not, be ultimately recoverable by the Servicer from the related Mortgagor, related Liquidation Proceeds or otherwise with respect to the related Mortgage Loan.

  • 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).

  • Back-Up Servicing Agreement means that certain Back-Up Servicing Agreement to be entered into by and among the Company, the Administrative Agent and the Back-Up Servicer, as such agreement may be amended, restated, supplemented or otherwise modified from time to time.