Servicing Transition Costs shall have the meaning specified in Section 1.1 of the Back-up Servicing Agreement.
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).
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.
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 .
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.
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
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.