Subordinated Servicing Fee definition

Subordinated Servicing Fee means with respect to any Distribution Date, the subordinated fee payable to the Servicer or successor servicer (as applicable) for services rendered during the related Collection Period, which shall be equal to one-fourth of the product of (i) the Subordinated Servicing Fee Percentage multiplied by (ii) the average of the values of the Aggregate Eligible Collateral Obligation Amount on the first day and the last day of the related Collection Period.

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 the event that a Replacement Servicer (other than SMBC 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 shall have the meaning provided in Section 5.11.

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.

• After such Payment Date, any Current Deferred Servicing Fee will be added to the cumulative amount of the Senior Servicing Fee or the Subordinated Servicing Fee, as applicable, which the Collateral Manager has elected to defer on prior Payment Dates and which has not been repaid (respectively, the “Cumulative Deferred Senior Servicing Fee” and the “Cumulative Deferred Subordinated Servicing Fee”).

• 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.

• As compensation, any Successor Servicer (including, without limitation, the Administrative Agent) so appointed shall be entitled to receive the Servicing Fee and the Subordinated Servicing Fee, together with any other servicing compensation in the form of assumption fees, late payment charges or otherwise as provided herein that accrued prior thereto, including, without limitation, Transition Expenses.

• Such public announcement shall specify that the Successor Servicer shall be entitled to the full amount of the Servicing Fee and the Subordinated Servicing Fee as servicing compensation, together with the other servicing compensation in the form of assumption fees, late payment charges or otherwise that accrued prior thereto.

More Definitions of Subordinated Servicing Fee

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. 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 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 an amount equal to the product of the -------------------------- Subordinated Servicing Fee Rate and the amount specified in clause (i) of the definition of Pool Balance as of the first day of the related Collection Period.

Subordinated Servicing Fee means the subordinated fee payable to the Servicer in accordance with the terms hereof on each Payment Date in arrears in respect of each Remittance Period, which fee shall be equal to the product of (a) 0.25% per annum, (b) the arithmetic mean of the aggregate Outstanding Balance of all Eligible Loans on the first day and on the last day of the related Remittance Period and (c) the actual number of days in such Remittance Period divided by 360; provided that, (i) 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 and (ii) the Subordinated Servicing Fee may not be increased without the consent of the Transferor.