SPS Servicing Fee definition
SPS Servicing Fee. As to any Distribution Date and the SPS-Serviced Mortgage Loans, a monthly servicing fee equal to the product of (1) a fraction, the numerator of which is the SPS Servicing Fee Rate and the denominator of which is twelve (12) and (2) the aggregate Stated Principal Balance of the SPS-Serviced Mortgage Loans as of the first day of the related Due Period. SPS Servicing Fee Rate: 0.25% per annum. Startup Day: The day designated as such pursuant to Section 10.01(b) hereof.