Examples of Subordinated Servicing Fee in a sentence

As compensation for its activities hereunder and reimbursement for its expenses, the Servicer shall be entitled to be paid the Senior Servicing Fee and the Subordinated Servicing Fee and reimbursed its reasonable out-of-pocket expenses as provided in Section 2.04.
Upon becoming Successor Servicer pursuant to Section 6.16, the Backup Servicer shall be entitled to the Servicing Fee and the Subordinated Servicing Fee.
As compensation for its servicing activities hereunder and reimbursement for its expenses, the Servicer shall be entitled to receive the Servicing Fee and the Subordinated Servicing Fee to the extent of funds available therefor pursuant to the provisions of Section 2.9(a)(iii), Section 2.10(a)(iii), Section 2.9(a)(vii) or Section 2.10(a)(viii), as applicable.
As compensation therefor, the Backup Servicer shall be entitled to the Servicing Fee and the Subordinated Servicing Fee, together with other servicing compensation in the form of assumption fees, late payment charges or otherwise as provided herein; including, without limitation, Transition Expenses.
The Servicer shall be required to pay such expenses for its own account and shall not be entitled to any payment therefor other than the Servicing Fee and the Subordinated Servicing Fee.

More Definitions of Subordinated Servicing Fee

Subordinated Servicing Fee shall have the meaning provided in Section 5.11.

Subordinated Servicing Fee means the fee payable to the Servicer on each Payment Date in arrears in respect of each Remittance Period, which fee shall be equal to the product of (i) 0.25%, (ii) the arithmetic mean of the aggregate Outstanding Balance of all Eligible Loan Assets on the first day and on the last day of the related Remittance Period and (iii) the actual number of days in such Remittance Period divided by 360; provided the rate set forth in clause (i) may hereof may be increased at the sole discretion of the Administrative Agent (in accordance with standard market rate increases for such services) in the event that a Replacement Servicer (other than CIBC or an Affiliate thereof) is appointed pursuant to Section 6.01(c); provided further that, in the sole discretion of the Servicer, the Servicer may, from time to time, waive all or any portion of the Subordinated Servicing Fee payable on any Payment Date.

Subordinated Servicing Fee means 0.20% per annum of the aggregate principal balance of the Mortgages on the last day of the immediately preceding Collection Period, inclusive of value added tax.

Subordinated Servicing Fee means the sum of (a) for any month when a Servicing Fee Deferral Trigger is in effect, 1/12th of an amount equal to 0.30% of the outstanding principal amount of the Trust Student Loans calculated based upon the outstanding principal amount of the Trust Student Loans as of the last day of the preceding calendar month and (b) any amounts described in clause (a) above that remain unpaid from prior Monthly Servicing Payment Dates, plus interest on such amounts for the period from the Monthly Servicing Payment Date on which such amounts become due to the date such amounts are paid in full at a rate per annum for each Accrual Period equal to Three-Month LIBOR.

Subordinated Servicing Fee. For each Payment Date, an amount equal to the sum of the products, for each day during the related Collection Period, of (a) a fraction, the numerator of which is the sum of (i) the Aggregate Outstanding Loan Balance as of the first day of such Collection Period plus (ii) the Aggregate Outstanding Loan Balance as of the last day of such Collection Period, and the denominator of which is two, (b) the Subordinated Servicing Fee Rate, and (c) a fraction, the numerator of which is 1 and the denominator of which is 360; provided, that, the Servicer in its sole discretion may waive or reduce any Subordinated Servicing Fee payable to it on any Payment Date by written notice to the Deal Agent no later than the Reporting Date immediately preceding such Payment Date, and no such waived or reduced Subordinated Servicing Fee will accrue or be payable to the Servicer on any subsequent Payment Date.

Subordinated Servicing Fee. The servicing fee payable to the Servicer on each Payment Date in arrears in respect of each Collection Period, which fee shall be equal to the product of (i) 0.85% if the Originator or any of its Affiliates is the Servicer, and otherwise 0.60%, (ii) the weighted average Aggregate Outstanding Loan Balance during the related Collection Period and (iii) the actual number of days in such Collection Period divided by 360.

Subordinated Servicing Fee has the meaning set forth in the Transfer and Servicing Agreement.

Subordinated Servicing Fee definition

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