Standby Fee definition
Standby Fee has the meaning defined in Section 2.7.
Standby Fee. With respect to each Mortgage Loan and each REO Loan, the fee designated as such and payable to the Special Servicer pursuant to the second paragraph of Section 3.11(c).
Standby Fee has the meaning set out in Section 3.2(a).
Examples of Standby Fee in a sentence
Notwithstanding the foregoing, the Standby Fee will cease to accrue on the unfunded portion of any Commitment for any Lender or on the Commitment of any Lender while it is a Defaulting Lender.
The Standby Fee shall be calculated daily beginning on the date hereof and shall be payable quarterly in arrears on the first Banking Day following each Fiscal Quarter.
More Definitions of Standby Fee
Standby Fee means, for any month, an amount equal to the product obtained by multiplying: (i) 1/12, by (ii) 12.5 basis points, by (iii) the Unused Capacity for such month.
Standby Fee has the meaning ascribed thereto in the Program Fee Side Letter;
Standby Fee means a charge, other than a tax, imposed on undeveloped property for the availability of potable water, sanitary sewer, or drainage facilities and services.
Standby Fee means, for any month, an amount equal to the sum obtained by adding the product of (i) 1/12, by (ii) the amount shown as the Standby Fee on the Summary of Credit Facility Structure, by (iii) the Unused Capacity.
Standby Fee mea▇▇ ▇▇▇ ▇▇▇ payable to the Standby Servicer so long as CPS is the Servicer, on each Payment Date in an amount equal to one-twelfth of 0.06% of the aggregate outstanding principal amount of the Securities on the last day of the second preceding Collection Period; provided, however, that on the first Payment Date the Trustee will be entitled to receive an amount equal to the product of (i) the percentage equivalent of a fraction the numerator of which is the number days from the Closing Date to but excluding the first Payment Date and the denominator of which is 360, (ii) 0.06% and (iii) the aggregate outstanding principal amount of the Securities as of the Closing Date.
Standby Fee has the meaning given to such term in Article 2. (Standby fee) of the Finance Fee Letter.
Standby Fee has the meaning specified in Section 3.5;