Successor Servicing Fee definition

Successor Servicing Fee has the meaning specified in Section 4.8.

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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.
Subject to this clause (b), any Successor Servicer may retain its Successor Servicing Fee and shall not be required to cause such Successor Servicing Fee to be deposited into the Collection Account.
The Servicer shall not be entitled to any compensation for its services hereunder, however, any successor Servicer, including the Administrator in such capacity, shall be entitled to the Successor Servicing Fee, payable in accordance with Section 2.04(a).
For each Monthly Period, the Successor Servicing Fee shall equal the sum of (i) the Receivables Servicing Fee and (ii) the servicing fee amount for each Collateral Certificate, as specified in the applicable Series Supplement for such Collateral Certificate.
With respect to each Monthly Period, the Indenture Trustee, at the direction of the Servicer, shall allocate to each Series of Notes an amount equal to the product of (i) the Successor Servicing Fee for such Monthly Period and (ii) the Floating Allocation Percentage for such Monthly Period for such Series of Notes.

More Definitions of Successor Servicing Fee

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 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 means for any Monthly Period during which any other successor Servicer acts as Servicer, the Servicing Fee shall be an amount equal to (i) if SST acts as successor Servicer, the amount set forth pursuant to the SST Fee Schedule as set forth in the Back-Up Servicing Agreement or (ii) if any other successor Servicer acts as Servicer, the Successor Servicing Fee shall be an amount equal to the product of (a) the current market rate for servicing receivables similar to the Receivables, (b) one-twelfth and (c) the aggregate Outstanding Receivables Balance as of the last day of the immediately prior Monthly Period.

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

Successor Servicing Fee has the meaning specified in the Servicing Agreement. “Supplemental Credit Enhancement” means any Supplemental Credit Enhancement Agreement or Supplemental Liquidity Agreement entered into between the Trust and the applicable Supplemental Credit Enhancement Provider or Supplemental Liquidity Provider.

Successor Servicing Fee has the meaning specified in Section 2.2.

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.