Servicing Fee Shortfall definition

Servicing Fee Shortfall means, as of any date of determination within a Settlement Period, the amount, if any, by which the Accrued Servicing Fee exceeds the Retained Servicing Fee, in each case as of such date.

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Servicing Fee Shortfall has the meaning specified in Section 3.06 of the Servicing Agreement.

Servicing Fee Shortfall means for any Distribution Date, the excess, if any, of (a) the aggregate amount payable to the Servicer pursuant to Section 3.01(d) with respect to such Distribution Date, and (b) the aggregate amount of Card Series Finance Charge Amounts available after giving effect to Section 3.01(c) on such Distribution Date.

Examples of Servicing Fee Shortfall in a sentence

The Servicer (or a successor servicer) shall not be entitled to receive the Servicing Fee or other servicing compensation and no Trust shall pay the Servicing Fee or other servicing compensation to the Servicer (or a successor servicer) if there exists a Supplemental Servicing Fee Shortfall.
The Trust, as payment of the purchase price of the Mortgage Pool Assets and in consideration of the Company making the Initial Group 1 Servicing Fee Shortfall Deposit, the Initial Group 2 Servicing Fee Shortfall Deposit and the Initial Interest Shortfall Deposit pursuant to Section 2.01, shall, on the Closing Date, issue the REMIC I Regular Interests and the Class R-1 Residual Interest to the Company.
The Prefunding Excess Amount for each Tranche of Notes shall be withdrawn from the Principal Funding Subaccount for such Tranche, deposited into the DiscoverSeries Collections Account and treated as Series Principal Amounts (to be added to the Series Principal Amounts remaining after step (43) (Series Servicing Fee Shortfall from Class B Principal)).
The Series Servicing Fee Shortfall and the Reallocated Finance Charge Amounts shall be reduced by the amount of such payment.
The Calculation Agent shall make the following adjustments after giving effect to step (42) of the Cash Flows (Series Servicing Fee Shortfall from Class C Principal): Class A Usage of Class C Notes.
To the extent such remaining Available Funds are insufficient to pay the Servicing Fee Shortfall on any Distribution Date, the Seller shall be required to pay any unpaid Servicing Fee Shortfall directly to the Servicer out of its own funds.
The Trust, as payment of the purchase price of the Mortgage Pool Assets and in consideration of the Company making the Initial Servicing Fee Shortfall Deposit and the Initial Interest Shortfall Deposit pursuant to Section 2.01, shall, on the Closing Date, issue the REMIC I Regular Interests and the Class R-1 Residual Interest to the Company.
The Calculation Agent shall make the following adjustments after giving effect to step (41) of the Cash Flows (Series Servicing Fee Shortfall from Class D Principal): Class A Usage of Class D Notes.
The Trust, as payment of the purchase price of the Mortgage Pool Assets and in consideration of the Company making the Initial Group 1 Servicing Fee Shortfall Deposit, the Initial Group 1 Interest Shortfall Deposit, the Initial Group 2 Interest Shortfall Deposit and the Initial Group 2 August Loan Deposit pursuant to Section 2.01, shall, on the Closing Date, issue the REMIC I Regular Interests and the Class R-1 Residual Interest to the Company.
On the Closing Date, the Company shall deposit in the Certificate Account (i) the amount of $668.91 (the "Initial Servicing Fee Shortfall Deposit"), representing the sum, with respect to each Mortgage Loan, of the excess, if any, of the first month's Servicing Fee for such Mortgage Loan over the first month's interest accrued on such Mortgage Loan.

More Definitions of Servicing Fee Shortfall

Servicing Fee Shortfall. As of any date of determination within a Settlement Period, the amount, if any, by which the Accrued Servicing Fee exceeds the Retained Servicing Fee, in each case as of such date; provided, however, that if on any date of determination, the Servicing Fee is not required to be deposited in Retention Account pursuant to Section 6.3(a)(ii)(C) of the Purchase Agreement, the Servicing Fee Shortfall shall be zero.

Servicing Fee Shortfall means, for any day within a Settlement Period, ----------------------- the amount, if any, by which the Accrued Servicing Fee calculated as of that day exceeds the Retained Servicing Fee as of that same day.

Servicing Fee Shortfall has the meaning set forth in Section 6.6 hereof.

Servicing Fee Shortfall means for any Payment Date, the excess, if any, of (a) the aggregate amount payable to the Servicer pursuant to Section 4.07(c) with respect to such Payment Date, and (b) the aggregate amount of Available Finance Charge Collections available after giving effect to Section 4.07(b) on such Payment Date.

Servicing Fee Shortfall means for any Payment Date, the excess, if any, of (a) the aggregate amount payable to the Servicer pursuant to Section 4.05(c) with respect to such Payment Date, and (b) the aggregate amount of Available Finance Charge Collections available after giving effect to Section 4.05(b) on such Payment Date.