Successor Servicing Fee definition

Successor Servicing Fee has the meaning specified in Section 4.8.

Successor Servicing Fee means (i) the fee payable to any Successor Servicer hereunder on each Payment Date equal to the amount set forth in the Backup Servicing Agreement and (ii) reimbursement of expenses incurred in connection with realization on the Contracts or other enforcement procedures in respect of collections, (i.e., repos, freight, skip-tracing).

Successor Servicing Fee is defined in the Successor Servicing Agreement.

Examples of Successor Servicing Fee in a sentence

• The Successor Servicing Fee with respect to a Reporting Period shall be paid to the Successor Servicer during the month immediately following such Reporting Period on the date as provided in the Sale Agreement.

• With respect to each Monthly Period, the Indenture Trustee, at the direction of the Servicer, shall allocate to the Series 2023-CRT3 Notes an amount equal to the product of (A) the Series 2023-CRT3 Floating Allocation Percentage and (B) the Successor Servicing Fee with respect to such Monthly Period.

• Finance Charge Collections, Principal Collections, the Default Amount and the Successor Servicing Fee allocated to Series 2019-2 pursuant to Article V of the Indenture shall be allocated and distributed as set forth in this Article IV.

• With respect to each Monthly Period, the Indenture Trustee, at the direction of the Servicer, shall allocate to the Series 2019-2 Notes an amount equal to the product of (A) the Series 2019-2 Floating Allocation Percentage and (B) the Successor Servicing Fee with respect to such Monthly Period.

• With respect to each Monthly Period, the Indenture Trustee, at the direction of the Servicer, shall allocate to the Series 2016-3 Notes an amount equal to the product of (A) the Series 2016-3 Floating Allocation Percentage and (B) the Successor Servicing Fee with respect to such Monthly Period.

More Definitions of Successor Servicing Fee

Successor Servicing Fee means, for each Payment Date, the fee payable pursuant to Section 9.04(a)(ii) of the Indenture to the successor Servicer appointed pursuant to Section 14.02 of this Agreement, in an amount equal to the greater of (i) the Monthly Servicing Fee and (ii) an amount not to exceed 110% of the then-current "market-rate" fee for servicing assets comparable to the Receivables, which rate shall be determined by averaging three servicing bids obtained by the Insurer from third party servicers selected by the Insurer, to the extent that such bids are available from three third party servicers acceptable to the Insurer in its sole discretion.

Successor Servicing Fee has the meaning assigned thereto in Exhibit B hereto.

Successor Servicing Fee means the fee equal to one-twelfth of the product of (i) the Servicing Fee Rate and (ii) the aggregate Outstanding Receivable Principal Balance as of the beginning of the related Collection Period, that is payable by the Issuer to the Backup Servicer in the event that the Backup Servicer replaces the Servicer and becomes the Successor Servicer.

Successor Servicing Fee means, for any Remittance Period after Freedom Financial is terminated as Servicer, an amount payable out of Collections on the Pledged Receivables and agreed to among the Successor Servicer, the Lender and the Administrator.

Successor Servicing Fee has the meaning assigned thereto in Exhibit B hereto. 2. Loans Covered by this Agreement. As of the date hereof, this Agreement applies to any and all Loans serviced by Servicer from time to time.

Successor Servicing Fee. With respect to each Distribution Date and any Series of Notes, an amount equal to the greater of (a) the Monthly Servicing Fee and (b) any Successor Servicing Fee payable under the Servicing Agreement.

Successor Servicing Fee has the meaning specified in Section 2.2.