Servicing Transition Costs definition

Servicing Transition Costs shall have the meaning specified in Section 1.1 of the Back-up Servicing Agreement.
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Servicing Transition Costs means any transition expenses and costs due in respect of the transfer of servicing to the Standby Servicer (including any boarding fees or other expenses payable by the Issuer).
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Servicing Transition Costs. Reasonable costs and expenses incurred by the Back-up Servicer in connection with the assumption of its servicing obligations after the Back- up Servicer’s receipt of a Servicing Transfer Notice, not to exceed $250,000.
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Examples of Servicing Transition Costs in a sentence

  • To the extent not paid in full by the immediate predecessor Servicer, such Servicing Transition Costs shall be paid from Available Funds pursuant to Section 4.4(a) of this Agreement or Section 5.4(b) of the Indenture, as applicable.


More Definitions of Servicing Transition Costs

Servicing Transition Costs has the meaning set forth in Section 1.1 of the Backup Servicing Agreement. “ Similar Law ” means any applicable law that is substantially similar to Title I of ERISA or Section 4975 of the Code. “ Simple Interest Method ” means the method of calculating interest due on a motor vehicle receivable on a daily basis based on the actual outstanding principal balance of the receivable on that date . “ Simple Interest Receivable ” means any motor vehicle receivable pursuant to which the payments due from the Obligors during any month are allocated between interest, principal and other charges based on the actual date on which a payment is received and for which interest is calculated using the Simple Interest Method .
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Servicing Transition Costs has the meaning set forth in Section 1.1 of the Backup Servicing Agreement. “ Similar Law ” means any applicable law that is substantially similar to Title I of ERISA or Section 4975 of the Code. “ Simple Interest Method ” means the method of calculating interest due on a motor vehicle receivable on a daily basis based on the actual outstanding principal balance of the receivable on that date . “ Simple Interest Receivable ” means any motor vehicle receivable pursuant to which the payments due from the Obligors during any month are allocated between interest, principal and other charges based on the actual date on which a payment is received and for which interest is calculated using the Simple Interest Method . “ Specified Reserve Account Balance ” means, for any Payment Date, an amount equal to 2 . 00 % of the Pool Balance as of the Cut - Off Date ; provided , however , on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal of and interest on the Notes, the “Specified Reserve Account Balance” shall be $ 0 . “ Sponsor ” means America’s Car Mart, Inc., an Arkansas corporation. “ Statutory Trust Statute ” means Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code † 3801 et seq. “ Successor Servicer ” means, initially, the successor to America’s Car Mart under the terms of the Transaction Documents, and any replacement Servicer appointed thereafter pursuant to the Sale and Servicing Agreement.
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Servicing Transition Costs has the meaning set forth in Section 1.1 of the Backup Servicing Agreement. “ Similar Law ” means any applicable law that is substantially similar to Title I of ERISA or Section 4975 of the Code. “ Simple Interest Method ” means the method of calculating interest due on a motor vehicle receivable on a daily basis based on the actual outstanding principal balance of the receivable on that date . “ Simple Interest Receivable ” means any motor vehicle receivable pursuant to which the payments due from the Obligors during any month are allocated between interest, principal and other charges based on the actual date on which a payment is received and for which interest is calculated using the Simple Interest Method . “ Specified Reserve Account Balance ” means, for any Payment Date, an amount equal to 2 . 50 % of the Pool Balance as of the Cut - Off Date ; provided , however , on any Payment Date after
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Related to Servicing Transition Costs

  • Servicing Transfer Costs All reasonable costs and expenses incurred by the Trustee in connection with the transfer of servicing from a predecessor servicer, including, without limitation, any costs or expenses associated with the complete transfer of all servicing data and the completion, correction or manipulation of such servicing data as may be required by the Trustee to correct any errors or insufficiencies in the servicing data or otherwise to enable the Trustee to service the Mortgage Loans properly and effectively.

  • Transition Costs means the reasonable costs and expenses (including reasonable attorneys’ fees but excluding overhead) incurred or payable by the Successor Servicer in connection with the transfer of servicing (whether due to termination, resignation or otherwise), including allowable compensation of employees and overhead costs incurred or payable in connection with the transfer of the Receivable Files or any amendment to the Sale and Servicing Agreement required in connection with the transfer of servicing.

  • Servicing Transfer Date The date on which a Servicing Transfer occurs.

  • Additional Servicing Expenses means (a) all Property Protection Advances, fees and/or expenses incurred by and reimbursable to any Servicer, Trustee, Certificate Administrator or fiscal agent pursuant to the Servicing Agreement relating solely to the Mortgage Loan, and (b) all interest accrued on Advances made by (x) any Servicer or Trustee in accordance with the terms of the Servicing Agreement or (y) any Non-Lead Servicer or Non-Lead Trustee in accordance with the terms of the Non-Lead Securitization Servicing Agreement.

  • Servicing Transfer Event means any of the events specified in the Servicing Agreement, whereby the servicing of the Mortgage Loan is required to be transferred to the Special Servicer from the Master Servicer.

  • Non-Lead Servicing Agreement means the pooling and servicing agreement, trust and servicing agreement or other similar agreement to be entered into in connection with a Non-Lead Securitization Note.

  • Non-Lead Securitization Servicing Agreement shall have the meaning assigned to such term in Section 2(b).

  • Interim Servicing Agreement The agreement to be entered into by the Purchaser and the Interim Servicer, providing for the Interim Servicer to service the Mortgage Loans as specified by the Interim Servicing Agreement.

  • Master Servicing Agreement means the master servicing agreement entered into on 20 May 2013 between the Guarantor, the Issuer and the Master Servicer.

  • Transition Expenses The reasonable costs (including reasonable attorneys’ fees) of the Backup Servicer incurred in connection with the transferring the servicing obligations under this Agreement and amending this Agreement to reflect such transfer in an amount not to exceed $100,000.

  • Sub-Servicing Agreement The written contract between the Servicer and a Sub-Servicer relating to servicing and administration of certain Mortgage Loans as provided in Section 3.02.

  • Lead Securitization Servicing Agreement means (i) the pooling and servicing agreement or other comparable agreement related to the Lead Securitization, and (ii) on and after the date on which the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the “Lead Securitization Servicing Agreement” shall be determined in accordance with the second paragraph of Section 2(a).

  • Servicing Fees With respect to each Mortgage Loan and REO Loan, the Master Servicing Fee and the Special Servicing Fee.

  • Acquisition Costs means all fees, costs, expenses, stamp, registration or transfer Taxes incurred by the Group in connection with the Acquisition.

  • Collateral Servicing Fee shall have the meaning set forth in Section 3.01.