total direct costs definition
total direct costs means, with respect to
total direct costs means all direct costs incurred in connection with a particular Asset Series, including court costs, media costs, third-party servicing fees, costs to manage third-party servicing efforts and costs incurred in respect of internal collection efforts (including salaries, commissions and benefits of collection personnel and an allocation for the costs of facilities, telecommunications and incidental expenses related to the applicable collection activities), but excluding an allocation for general management overhead expenses. To the extent the Servicing Fee is reduced pursuant to this Section 2.9(b), the amount of such reduction (the “Subordinated Servicing Fee Amount”) shall be payable to Servicer out of the applicable Asset Series Proceeds upon the earlier to occur of (i) the applicable Asset Series satisfying the 75% Test and (ii) final payment by Borrower of all principal and interest due in respect of the applicable Loan Series.
total direct costs means all of the direct costs of any transaction attributable to activities described in any paragraph of section 924(e). For purposes of the 50% foreign direct cost test of section 924(d)(1)(B), total direct costs are determined based on the direct costs of all activities described in all of the paragraphs of section 924(e). For purposes of the 85% foreign direct cost test of section 924(d)(2), however, the total direct costs are determined separately for each paragraph of section 924(e).