Backup Servicing Fee Rate definition

Backup Servicing Fee Rate has the meaning given to such term in the Xxxxx Fargo Fee Letter.

Backup Servicing Fee Rate. The product of (i) 0.015% per annum (or, in the event that servicing is transferred to the Backup Servicer, 0.50% per annum, plus the per annum rates (as applicable) referred to as supplemental fees in clause (i) of the Servicing Fee Rate definition), and (ii) the stated principal balance of the Mortgage Loans at the beginning of the related Due Period.

Backup Servicing Fee Rate. 0.0425% or such other rate consented to in writing by the Borrower, the Backup Servicer and the Administrative Agent.

Examples of Backup Servicing Fee Rate in a sentence

• The Backup Servicer shall be entitled to receive, and the Master Servicer shall pay, out of collections on the Mortgage Loans for each Due Period, as servicing compensation for such Due Period, an amount (the "Backup Servicing Fee") equal to the product of one-twelfth of the Backup Servicing Fee Rate and the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group as of the beginning of such Due Period.

• The Backup Servicer shall be entitled to receive, and the Master Servicer shall pay, out of collections on the Mortgage Loans for each Due Period, as servicing compensation for such Due Period, an amount (the “Backup Servicing Fee”) equal to the product of one-twelfth of the Backup Servicing Fee Rate and the aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group as of the beginning of such Due Period.

• Back-up Servicing Fee Rate: 0.0065% per annum or such other percentage (not to exceed 0.0065% without satisfaction of the Series 2018-1 Rating Agency Condition) as may be specified as such in the Back-up Servicing Agreement.

• Back-up Servicing Fee Rate: 0.0065% per annum or such other percentage (not to exceed 0.0065% without satisfaction of the Series 2017-2 Rating Agency Condition) as may be specified as such in the Back-up Servicing Agreement.

• Back-up Servicing Fee Rate: 0.0065% per annum or such other percentage (not to exceed 0.0065% without satisfaction of the Series 2017-3 Rating Agency Condition) as may be specified as such in the Back-up Servicing Agreement.

More Definitions of Backup Servicing Fee Rate

Backup Servicing Fee Rate means the per annum rate of 1.00%.

Backup Servicing Fee Rate has the meaning given to such term in the Computershare Fee Letter.

Backup Servicing Fee Rate means, (i) with respect to any Collection Period prior to the appointment of a Backup Servicer, 0%, and (ii) with respect to the Collection Period during which the Backup Servicer was first engaged pursuant to Section 7.09 and for each Collection Period thereafter, (a) the percentage equivalent of a fraction, (1) the numerator of which is the Backup Servicing Fee and (2) the denominator of which is the average daily Pool Balance during the related Collection Period, times (b) 12. "Bankruptcy Code" means the United States Bankruptcy Code (Title 11 of the United States Code). "Basel II" means the second Basel Accord issued by the Basel Committee on Banking Supervision. "Basel III" means the third Basel Accord issued by the Basel Committee on Banking Supervision. "Basic Documents" means this Agreement, the Purchase Agreement, each Purchase Agreement Supplement, the Fee Letter, all Hedging Agreements, the Control Agreement, the Performance Guaranty, each Electronic Vault Services Agreement, and any other document, certificate, opinion, agreement or writing the execution of which is necessary or incidental to carrying out the transactions contemplated by this Agreement or any of the other foregoing documents. "Benchmark" means, with respect to the portion of the Loans Outstanding that is funded or maintained either (i) by a Conduit Lender other than by issuing Commercial Paper Notes or (ii) by a Committed Lender, initially, Daily Simple SOFR; provided, that if a Benchmark Transition Event and the related Benchmark Replacement Date have occurred with respect to Daily Simple SOFR or the then-current Benchmark, then 'Benchmark' means the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to clause (b) of Section 2.17. "Benchmark Replacement" means, with respect to the portion of the Loans Outstanding that is funded or maintained either (i) by a Conduit Lender other than by issuing Commercial Paper Notes or (ii) by a Committed Lender, the sum of: (a) the alternate benchmark rate that has been selected by the Administrative Agent and the Borrower as the replacement for the then-current Benchmark giving due consideration to (1) any selection or recommendation of a replacement benchmark rate or the mechanism for determining such a rate by the Relevant Governmental Body or (2) any evolving or then-prevailing market convention for determining a benchmark rate as a replacement for the then-curren...

Backup Servicing Fee Rate means for any Distribution Date a per annum rate expressed as the product of 12 and a fraction the numerator of which is the Backup Servicing Fee for that Distribution Date and the denominator of which is the Pool Principal Balance as of the first day of the related Due Period.

Backup Servicing Fee Rate. 0.03% per annum.

Backup Servicing Fee Rate. As defined in the Collateral Custodian Fee Letter.

Backup Servicing Fee Rate. The product of (i) % per annum and (ii) the stated principal balance of the Mortgage Loans at the beginning of the related Due Period. To the extent that the Backup Servicer becomes the Master Servicer, it shall be entitled to be compensated at the Servicing Fee Rate instead of the Backup Servicing Fee Rate.