Standby Servicing Fee definition

Standby Servicing Fee means for any Payment Date, the greater of (i) the product of (A) one-twelfth, (B) 0.02% and (C) the Pool Balance as of the opening of business first day of the related Collection Period (or, in the case of the first Payment Date, as of the Cut-Off Date) and (ii) $4,000.
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Standby Servicing Fee with respect to each Payment Date, means the fee payable to the Standby Servicer for the month immediately preceding the month in which such Payment Date occurs, so long as the Standby Servicer is not the Servicer of any Purchased Asset, in an amount equal to $2,000, and if the Standby Servicer becomes the successor Servicer, a one-time boarding or exit fee of $15.00 per loan (subject to a minimum boarding or exit fee of $10,000), and any other fees owed and unpaid to the Standby Servicer pursuant to its fee agreement that may be amended from time to time.
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Standby Servicing Fee. With respect to each Mortgage Loan, the fee payable to the Special Servicer pursuant to the first paragraph of Section 3.11(b).
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Examples of Standby Servicing Fee in a sentence

  • The Standby Servicing Fee (exclusive of VAT, if any) payable to the Series Standby Servicer, until it becomes the Series Servicer (if at all), for each Due Period shall be an amount equal to one-twelfth of the amount being 0.035% of the month-end balance of the aggregate Net Present Value of all of the Equipment Leases (including Equipment Leases in Default) included in the Series Assets relating to Series 1 on the last day of that Due Period.

  • The Standby Servicing Fee (exclusive of VAT, if any) payable to the Series Standby Servicer, until it becomes the Series Servicer (if at all), for each Due Period shall be an amount equal to one-twelfth of the amount being 0.035% of the month-end balance of the aggregate Net Present Value of all of the Series 3 Participating Assets (including Series 3 Participating Assets in Default) included in the Series Assets relating to Series 3 on the last day of that Due Period.

  • The Standby Servicing Fee (exclusive of VAT, if any) payable to the Series Standby Servicer, until it becomes the Series Servicer (if at all), for each Due Period shall be an amount equal to one-twelfth of the amount being 0.035% of the month-end balance of the aggregate Net Present Value of all of the Series 2 Participating Assets (including Series 2 Participating Assets in Default) included in the Series Assets relating to Series 2 on the last day of that Due Period.

  • If, pursuant to any provision hereof, the duties of the Master Servicer or the Special Servicer are transferred to a successor thereto, the Master Servicing Fee, the Standby Servicing Fee and/or the Special Servicing Fee, as applicable, that accrues pursuant hereto from and after the date of such transfer shall be payable to such successor.

  • The Standby Servicing Fee with respect to any Mortgage Loan or REO Mortgage Loan shall cease to accrue if a Liquidation Event occurs in respect thereof.

  • If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations then owing and unpaid, if any, in the order set forth above and, if no such Obligations remain outstanding, delivered to the Borrower.


More Definitions of Standby Servicing Fee

Standby Servicing Fee means, with respect to each Mortgage Loan and each REO Mortgage Loan, the fee designated as such and payable to the Special Servicer pursuant to Section 3.11(c).
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Standby Servicing Fee means (where applicable) the standby servicing fee payable to the Series Standby Servicer in terms of the Series Servicer Agreement;
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Standby Servicing Fee with respect to each Payment Date, so long as the Standby Servicer is not the Servicer of any Purchased Asset, means the fee payable to the Standby Servicer. [***].
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Related to Standby Servicing Fee

  • Master Servicing Fee As to any Distribution Date, an amount equal to one-twelfth the product of (a) the Master Servicing Fee Rate and (b) the outstanding principal balance of each Mortgage Loan. Master Servicing Fee Rate: 0.00% per annum.

  • Subservicing Fee As to any Mortgage Loan, the fee payable monthly to the related Subservicer (or, in the case of a Nonsubserviced Mortgage Loan, to the Master Servicer) in respect of subservicing and other compensation that accrues at an annual rate equal to the excess of the Mortgage Rate borne by the related Mortgage Note over the rate per annum designated on the Mortgage Loan Schedule as the "CURR NET" for such Mortgage Loan.

  • Special Servicing Fee shall have the meaning given to such term in the Servicing Agreement.

  • Basic Servicing Fee means the fee payable pursuant to Section 3.09 to the Servicer on each Payment Date for services rendered during the related Collection Period, which shall be equal to one-twelfth of the Servicing Fee Rate multiplied by the Pool Balance as of the first day of the related Collection Period or, with respect to the first Payment Date, the Original Pool Balance.

  • Servicing Fee As to any Distribution Date and each Mortgage Loan, an amount equal to the product of (a) one-twelfth of the Servicing Fee Rate and (b) the outstanding principal balance of such Mortgage Loan as of the first day of the related Collection Period.

  • Class B Servicing Fee shall have the meaning specified in Section 3.01.

  • Base Servicing Fee means the fee payable to the Servicer on each Distribution Date for services rendered during the related Collection Period, which shall be equal to one-twelfth of the Servicing Rate multiplied by the Pool Balance as of the close of business on the last day of the immediately preceding Collection Period or, with respect to the first Distribution Date, the Original Pool Balance.

  • Monthly Servicing Fee shall have the meaning specified in subsection 3.01.

  • Primary Servicing Fee means, with respect to each Mortgage Loan and REO Mortgage Loan, the fee payable to the Primary Servicer pursuant to Section 3.01(c)(20) of this Agreement.

  • Class A Servicing Fee shall have the meaning specified in Section 3.01.

  • Additional Servicing Fee means, for any Collection Period, if a successor Servicer has been appointed pursuant to Section 8.2 of the Sale and Servicing Agreement, the amount, if any, by which (i) the compensation payable to such successor Servicer for such Collection Period exceeds (ii) the Monthly Servicing Fee for such Collection Period.

  • Special Servicing Fees shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Investor Servicing Fee means, with respect to any Distribution Date, an amount equal to the product of the Investor Servicing Fee Percentage and the Series Investor Interest on the first day of the Due Period related to such Distribution Date (or in the case of the first Distribution Date for the Series established hereby, the Series Initial Investor Interest).

  • Excess Servicing Fee For each calendar month, as to each Mortgage Loan, the portion of the related Excess Servicing Fee Rate applicable to such month (determined in the same manner as the applicable Mortgage Rate determined for such Mortgage Loan for such month) multiplied by the Scheduled Principal Balance of such Mortgage Loan immediately before the Due Date occurring in such month, but prorated for the number of days during the calendar month for such Mortgage Loan for which interest actually accrues on such Mortgage Loan and only from collections on such Mortgage Loan.

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

  • Master Servicing Fee Rate With respect to each Mortgage Loan, ____% per annum.

  • General Servicing Fee With respect to each Due Period and any Mortgage Loan, an amount equal to one-twelfth the product of (i) the General Servicing Fee Rate and (ii) the outstanding principal balance of such Mortgage Loan as of the related Determination Date. The General Servicing Fee is payable solely from, the interest portion (including recoveries with respect to interest from Liquidation Proceeds to the extent permitted by Section 3.02 of this Agreement) of such Monthly Payments collected by the Servicer, or as otherwise provided under this Agreement. General Servicing Fee Rate: 0.50% per annum.

  • Special Servicing Fee Rate With respect to each Specially Serviced Mortgage Loan and each REO Loan, 0.25% per annum.

  • Total Servicing Fee means the sum of the Basic Servicing Fee and the Supplemental Servicing Fee.

  • Noteholder Servicing Fee is defined in Section 3.1.

  • Primary Servicing Fee Rate means, with respect to each Mortgage Loan, the rate that corresponds to such Mortgage Loan set forth on Exhibit A hereto under the heading “Primary Servicing Fee.”

  • Backup Servicing Fee means, as to each Distribution Date, $4,000; provided, however, that if the Backup Servicer becomes the successor Servicer, such fee shall no longer be paid.

  • Excess Servicing Fees With respect to each Mortgage Loan (including an REO Mortgage Loan), that portion of the Servicing Fee that accrues at a per annum rate equal to the Excess Servicing Fee Rate.

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

  • Servicer Fee has the meaning specified in Section 2.05(a).

  • Subservicing Fee Rate The per annum rate designated on the Mortgage Loan Schedule as the "SUBSERV FEE".