Backup Servicing Fee definition

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.

Backup Servicing Fee means the fee payable to the Backup Servicer, if and when appointed pursuant to Section 7.02 of the Sale and Servicing Agreement, which shall be $4,500 per month or less, plus reasonable expenses.

Backup Servicing Fee. Defined in the Backup Servicer Fee Letter.

Examples of Backup Servicing Fee in a sentence

• From the date of its appointment until the Facility Termination Date, the Backup Servicer will not make any changes to the Backup Servicing Fee without the prior written approval of the Administrative Agent (acting at the direction of the Required Lenders) and, so long as no Event of Default or Servicer Termination Event has occurred, the Borrower.

• As compensation for its backup servicing activities hereunder, the Backup Servicer shall be entitled to receive the Backup Servicing Fee from the Borrower.

• The Backup Servicer shall be entitled to receive its Backup Servicing Fee to the extent of funds available therefor pursuant to Section 2.07.

• The Backup Servicer’s entitlement to receive the Backup Servicing Fee shall cease on the earliest to occur of (i) it becoming the Successor Servicer, (ii) its removal as Backup Servicer pursuant to Section 8.04, (iii) its resignation in accordance with the provisions of Section 8.05 and (iv) the termination of this Agreement.

• From the date of its appointment until the Facility Termination Date, the Backup Servicer will not make any changes to the Backup Servicing Fee without the 147 prior written approval of the Administrative Agent (acting at the direction of the Required Lenders) and, so long as no Event of Default or Servicer Termination Event has occurred, the Borrower.

More Definitions of Backup Servicing Fee

Backup Servicing Fee. The fee payable by the Borrower to the Backup Servicer pursuant to the Backup Servicing Agreement and Section 7.3 hereof.

Backup Servicing Fee shall have the meaning attributed to such term in the Backup Servicing Agreement.

Backup Servicing Fee means the greater of (a) 1/12 of 0.02% of the Pool Balance as of the first day of each Collection Period and (b) $4,000.

Backup Servicing Fee means, so long as the Backup Servicer is not then acting as Servicer, the “Monthly Backup Servicing Fee,” as reflected on the Trustee Fee Schedule, due and payable on each Payment Date in respect of the immediately preceding Collection Period; provided, however, that on the first Payment Date the Backup Servicer will be entitled to receive an amount equal to Backup Servicing Fee multiplied by a fraction, the numerator of which is the number of days from and including the Closing Date to and including June 30, 2015, and the denominator of which is 360.

Backup Servicing Fee shall have the meaning given to such term in the fee letter, dated as of the date hereof, among the Originator, the Trust Depositor, the Issuer and the Backup Servicer.

Backup Servicing Fee means, for any Accounting Period, the fees set forth in Section 6.10 hereof.

Backup Servicing Fee has the meaning set forth in the Backup Servicer, Account Bank, Collateral Custodian and Collateral Administrator Fee Letter.