Base Servicing Fee means the fee payable to the Servicer on each Distribution Date for services rendered during the related Collection Period, which shall be equal to one-twelfth of the Servicing Rate multiplied by the Pool Balance as of the close of business on the last day of the immediately preceding Collection Period or, with respect to the first Distribution Date, the Original Pool Balance.
Base Servicing Fee means, with respect to any Collection Period, the fee payable to the Servicer for services rendered during such Collection Period, which shall be equal to the product of (i) the Servicing Fee Rate times (ii) the Aggregate Principal Balance of the Receivables as of the opening of business on the first day of such Collection Period (or, in the case of the first Distribution Date, May 2, 2019) times (iii) one-twelfth (or, in the case of the first Distribution Date, a fraction equal to (x) the number of days from and including May 2, 2019 through and including June 30, 2019, divided by (y) 360).
Base Servicing Fee. With respect to a Collection Period, an amount equal to the product of (A) the aggregate outstanding principal balance of the Mortgage Loans as of the related Measurement Date, (B) the Base Servicing Fee Rate and (C) (i) in the case of the initial Collection Period, a fraction, the numerator of which is the number of days in the period from and including the Closing Date to and including the last day of the initial Collection Period, and the denominator of which is 360, and (ii) in the case of all other Collection Periods, 1/12; provided that the Base Servicing Fee with respect to any Mortgage Loan whose Servicing Agreement is terminated during a Collection Period shall be pro-rated to the actual number of days within such Collection Period in which such Mortgage Loan was serviced by Seller. Base Servicing Fee Rate: 0.06% per annum.
Examples of Base Servicing Fee in a sentence
Under no circumstances shall Purchaser be liable to Seller for payment of the Base Servicing Fee.
As compensation for the performance of its obligations hereunder, the Servicer shall be entitled to receive on each Distribution Date the Base Servicing Fee and shall be entitled to retain all Supplemental Servicing Fees.
If a Successor Servicer has not been appointed at the time when the predecessor Servicer has ceased to act as Servicer in accordance with this Section 8.02, the Indenture Trustee without further action shall automatically be appointed the Successor Servicer and the Indenture Trustee shall be entitled to the Base Servicing Fee.
Seller shall be entitled to payment of the Base Servicing Fee only to the extent funds are available therefor in the Third Party Controlled Current Spread Custodial Account in accordance with the Priority of Payments.
Purchaser shall have received an opinion reasonably satisfactory to Purchaser that the Base Servicing Fee of the Mortgage Loans and the Purchase Price of the Current Excess Servicing Spread is fair and reasonable.
More Definitions of Base Servicing Fee
Base Servicing Fee means, with respect to any Collection Period, the fee payable to the Servicer for services rendered during such Collection Period, which shall be equal to the product of (i) the Servicing Fee Rate times (ii) the aggregate Principal Balance of the Receivables as of the opening of business on the first day of such Collection Period (or, in the case of the first Distribution Date, November 5, 2015) times (iii) one-twelfth (or, in the case of the first Distribution Date, a fraction equal to the number of days from and including November 5, 2015 through and including November 30, 2015, over 360).
Base Servicing Fee means, with respect to any Collection Period, the fee payable to the Servicer for services rendered during such Collection Period, which shall be equal to one-twelfth of the Servicing Fee Rate multiplied by the Pool Balance as of the opening of business on the first day of such Collection Period.
Base Servicing Fee means, with respect to any Collection Period, the fee payable to the Servicer for services rendered during such Collection Period, which shall be equal to the product of (i) the Servicing Fee Rate times (ii) the Aggregate Principal Balance of the Receivables as of the opening of business on the first day of such Collection Period (or, in the case of the first Distribution Date, as of the opening of business on September 14, 2021) times (iii) one-twelfth (or, in the case of the first Distribution Date, a fraction equal to (x) the number of days from and including September 14, 2021 through and including October 31, 2021, divided by (y) 360).
Base Servicing Fee. The Base Servicing Fee set forth in or established pursuant to Exhibit 9 hereto. BPO: A broker price opinion.
Base Servicing Fee means, with respect to each Series Trust Estate and with respect to any Collection Period, the fee payable to the Master Servicer for services rendered during such Collection Period, which, unless otherwise specified in the related Series Supplement, shall be equal to one-twelfth of the Servicing Fee Rate multiplied by the Pool Balance for such Series Trust Estate determined as of the first day of such Collection Period.
Base Servicing Fee means, with respect to each Primary Portfolio or its related Secondary Portfolio and each Collection Period, an amount equal to the product of (A) the aggregate outstanding principal balance of the Primary Portfolio Mortgage Loans or the Secondary Portfolio Mortgage Loans, as the case may be, as of the first day of such Collection Period and (B) one-twelfth of the Transaction Base Servicing Fee Rate; provided, however, that (1) with respect to all Primary Portfolio Mortgage Loans in such Primary Portfolio or all Secondary Portfolio Mortgage Loans in such Secondary Portfolio, if the initial Collection Period is less than a full month, such fee for each such Primary Portfolio Mortgage Loan or each such Secondary Portfolio Mortgage Loan shall be an amount equal to the product of the fee otherwise described above and a fraction, the numerator of which is the number of days in such initial Collection Period and the denominator of which is 360; (2) if any Primary Portfolio Mortgage Loan or Secondary Portfolio Mortgage Loan ceases to be part of the Primary Portfolio or the Secondary Portfolio, as the case may be, during such Collection Period as a result of a termination of the Seller’s duties as servicer under the applicable Servicing Agreement or Guide, the portion of such amount that is attributable to such Primary Portfolio Mortgage Loan or Secondary Portfolio Mortgage Loan shall be adjusted to an amount equal to the product of such portion and a fraction, the numerator of which is the number of days in such Collection Period during which such Primary Portfolio Mortgage Loan or Secondary Portfolio Mortgage Loan was included in the Primary Portfolio or in the Secondary Portfolio, as the case may be, and denominator of which is 360; and (3) if the Primary Portfolio Collections for such Primary Portfolio and such Collection Period or the Secondary Portfolio Collections for such Secondary Portfolio and such Collection Period were used to cover prepayment interest shortfalls on the Primary Portfolio Mortgage Loans or the Secondary Portfolio Mortgage Loans, as the case may be, the fee otherwise described above shall be reduced by the amount of such reduction.
Base Servicing Fee means, with respect to CenterOne as Servicer or subservicer, with respect to any Collection Period, the sum of (1) the aggregate for each Receivable of the greater of (a) the Servicing Fee Rate times the Principal Balance of that Receivable as of the opening of business on the first day of such Collection Period times one twelfth and (b) $15.00 and (2) the expenses of CenterOne incurred in that Collection Period.