Monthly Servicer Fee means, in respect of any Due Period (or portion thereof), an amount equal to one-twelfth of the product of (a) 1.10% and (b) the Aggregate Loan Balance on the first day of such Due Period (or portion thereof) or if a Successor Servicer has been appointed and accepted the appointment or if the Trustee is acting as Servicer, an amount equal to one-twelfth of the product of (x) the lesser of 3.5% and the Market Servicing Rate and (y) the Aggregate Loan Balance on the first day of such Due Period.

Monthly Servicer Fee means, in respect of any Due Period (or portion thereof), an amount equal to one-twelfth of the product of (a) 1.10% and (b) the Aggregate Loan Balance of the Pledged Loans at the beginning of such Due Period; or if a Successor Servicer has been appointed and accepted the appointment or if the Trustee is acting as Servicer a fee, which may be a higher fee and which, in all cases will be subject to (A) if no Insurer Default has occurred and is continuing, the consent of the Insurer or (B) if an Insurer Default has occurred and is continuing, the consent of the Majority Holders.

Examples of Monthly Servicer Fee in a sentence

As compensation for its servicing activities hereunder the Servicer shall be entitled to receive the Monthly Servicer Fee.
As compensation for its servicing activities hereunder, the Servicer shall be entitled to receive the Monthly Servicer Fee which shall be calculated under this Indenture and be paid to the Servicer pursuant to the terms of this Indenture.

More Definitions of Monthly Servicer Fee

Monthly Servicer Fee shall have the meaning specified in the Indenture.

Monthly Servicer Fee has the meaning set forth in the Supplementary Servicing Agreement.

Monthly Servicer Fee means, in respect of any Due Period (or portion thereof), an amount equal to one-twelfth of the product of (a) 1.25% and (b) the Aggregate Loan Balance of the Pledged Loans that have not been released from the lien of this Agreement at the beginning of such Due Period or if a Successor Servicer has been appointed and accepted the appointment or if the Trustee is acting as Servicer, an amount equal to one-twelfth of the product of (x) the lesser of 2.35% and the Market Servicing Rate (or such higher rate as may be consented to by Noteholders representing not less than 66 2/3% of the Aggregate Principal Amount) and (y) the Aggregate Loan Balance of the Pledged Loans that have not been released from the lien of this Agreement at the beginning of such Due Period.

Monthly Servicer Fee means, in respect of any Due Period (or portion thereof), an amount equal to one-twelfth of the product of

Monthly Servicer Fee means, in respect of any Due Period (or portion thereof), an amount equal to one-twelfth of the product of (a) 1.25% and (b) the Aggregate Loan Balance of the Pledged Loans at the beginning of such Due Period; or if a Successor Servicer has been appointed and accepted the appointment or if the Trustee is acting as Servicer, an amount equal to one-twelfth of the product of (x) the lesser of (i) if FAC is replaced (A) prior to the third anniversary of the Closing Date, 1.75%, or (B) on or after the third anniversary of the Closing Date, 2.00% and (ii) the Market Servicing Rate (or, in either case, such higher rate as may be consented to by the Control Party) and (y) the Aggregate Loan Balance of the Pledged Loans and all Defaulted Loans that have not been released from the lien of this Indenture at the beginning of such Due Period.

Monthly Servicer Fee means, as of any Payment Date, the sum of (a) a fee, payable monthly, equal to the product of (i) the Loan Fee, and (ii) the total number of Loans included in the Trust Estate and allocated to the Funding Notes at any time during the immediately preceding Due Period and (b) Reimbursable Servicer Expenses.

Monthly Servicer Fee means, in respect of any Due Period (or portion thereof), an amount equal to one-twelfth of the product of (a) 1.25% and(b) the Aggregate Loan Balance of the Pledged Loans that have not been released from the lien of this Agreement at the beginning of such Due Period or if a Successor Servicer has been appointed and accepted the appointment or if the Trustee is acting as Servicer, an amount equal to one-twelfth of the product of(x) the lesser of 2.35% and the Market Servicing Rate (or such higher rate as may be consented to by Noteholders representing not less than 66 2/3% of the Aggregate Principal Amount) and (y) the Aggregate Loan Balance of the Pledged Loans that have not been released from the lien of this Agreement at the beginning of such Due Period.