Servicer Expense Cap means, for any Payment Date, an amount not to exceed $75,000 during any twelve (12) month period.
Servicer Expense Cap means, for any Payment Date, an amount not to exceed $100,000 during any twelve (12) month period.
Servicer Expense Cap means, as of any Payment Date, an amount equal to $25,000.
More Definitions of Servicer Expense Cap
Servicer Expense Cap means, as of any Payment Date, an amount equal to $25,000. “Servicer Termination Event” means the occurrence of any of the events, acts or circumstances set forth in Section 6.03. “Servicing Fees” means the monthly fee, accruing from the Closing Date, payable in arrears on each Payment Date, in an amount equal to 0.50% per annum (calculated on the basis of a 360-day year and the actual number of days elapsed) of the Monthly Asset Amount; provided, however, that if the Backup Servicer is acting as successor Servicer, such fee shall be in an amount equal to 1.00% per annum with a monthly minimum of $6,500. “Servicing Standard” means, with respect to any Collateral Loans, to service and administer such Collateral Loans in accordance with the Loan Documents, SBA Standard Operating Procedures and Official Notices with respect to SBA Loans, and all customary and usual servicing practices (a) which are consistent with the higher of: (i) the customary and usual servicing practices that a prudent loan investor or lender would use in servicing loans like the Collateral Loans for its own account, and (ii) the - 35- 34881204v6 110062879
Servicer Expense Cap means, for any Payment Date, an amount not to exceed $25,000 during any twelve (12) month
Servicer Expense Cap means, for any Payment Date, an amount not to exceed $25,000 during any twelve (12) month period. “Servicer Expenses” means the out-of-pocket expenses incurred by the Servicer in connection with the Facility Documents.
Servicer Expense Cap means, for any Payment Date, an amount not to exceed $25,000 during any twelve (12) month period. “Servicer Expenses” means the out-of-pocket expenses incurred by the Servicer in connection with the Facility Documents. “Servicer Fee” means the fee to the Servicer for services rendered and performed of its obligations under this Agreement, in arrears on each Payment Date (subject to availability of funds and the Priority of Payments), in an amount equal to 0.50% per annum of the Fee Basis Amount; measured as of the Determination Date immediately preceding such Payment Date (calculated on the basis of a 360-day year and the actual number of days elapsed). Notwithstanding the foregoing, the Servicer Fee will be 0.0% so long as TRP OHA SERVICER I, LLC or a Person within the OHA Group acts as the Servicer. “Servicing Standard” has the meaning assigned to such term in Section 11.02(d). “Solvent” means, as to any Person, such Person is not “insolvent” within the meaning of Section 101(32) of the Bankruptcy Code or Section 271 of the Debtor and Creditor Law of the State of New York.
Servicer Expense Cap means, for any Payment Date, an amount not to exceed $75,000 during any twelve (12) month period. further, that if Term SOFR determined as provided above (including pursuant to the proviso above) shall ever be less than the Floor, then Term SOFR shall be deemed to be the Floor.