Backup Servicing Fee Clause Samples
The Backup Servicing Fee clause defines the payment obligations related to appointing a backup servicer in a financial or securitization transaction. This clause specifies the amount, frequency, and conditions under which the fee is paid to a third-party backup servicer, who stands ready to take over servicing duties if the primary servicer fails or is unable to perform. Its core practical function is to ensure continuity of servicing and protect investors or stakeholders from disruptions by providing a clear mechanism for compensating the backup servicer.
Backup Servicing Fee. Prior to the Assumption Date, the Backup Servicer shall receive its Backup Servicing Fee in accordance with Sections 3.4 or 6.6 hereof, as applicable. On and after the Assumption Date, the Indenture Trustee, as successor Servicer, will be obligated to distribute the Backup Servicing Fee to the Backup Servicer from amounts received by the Indenture Trustee in respect of the Servicing Fee.
Backup Servicing Fee. The fee payable by the Issuing Entity to the Backup Servicer in the amount of $2,750 per month plus reasonable expenses as set forth in the Backup Servicing Agreement, or, in the case of the initial Distribution Date, in the amount of $2,108.33 plus reasonable expenses as set forth in the Backup Servicing Agreement.
Backup Servicing Fee. The Backup Servicer shall receive its Backup Servicing Fee in accordance with Sections 3.4 or 6.6, as applicable.
Backup Servicing Fee. The fee payable by the Borrower to the Backup Servicer pursuant to the Backup Servicing Agreement and Section 7.3 hereof.
Backup Servicing Fee. At any time the Backup Servicer or one of its Affiliates is not the Servicer hereunder, the Backup Servicer shall be paid the Backup Servicer Fee for the performance of its obligations as Backup Servicer hereunder and under the Basic Documents.
Backup Servicing Fee. At any time the Backup Servicer or -------------------- one of its Affiliates is not the Servicer hereunder, the Backup Servicer shall be paid the Backup Servicer Fee for the performance of its obligations as Backup Servicer hereunder and under the Basic Documents.
Backup Servicing Fee. Borrower shall pay, and indemnify and hold Lender harmless from, any and all backup servicing or similar fees, and all other amounts (including, without limitation, attorneys’ costs and transitional expenses) that are required to be paid to the Backup Servicing Agent.
Backup Servicing Fee. The Company shall pay the Backup Servicing Fee to the Backup Servicer each month, provided, however, that if the Backup Servicer is acting as Successor Servicer, the Backup Servicer shall be instead paid the Servicing Fee and such Servicing Fee shall be paid to the Backup Servicer monthly in the same priority as the Backup Servicing Fee is paid pursuant to Section 2.5(B)(i). On the Closing Date, the Company shall pay the Backup Servicing Transaction Commitment Fee to the Backup Servicer.
Backup Servicing Fee. (a) The Backup Servicer shall be paid a one-time acceptance fee of $1,000 payable by Servicer on the date hereof.
(b) For initial General Setup, as set forth in Exhibit A, Backup Servicer shall be owed a one-time fee of 6,500, payable by Servicer on the date hereof.
(c) Legal fees of the Backup Servicer associated solely with the drafting and negotiating of this Agreement will be charged and paid by Servicer at the actual cost to the Backup Servicer, a maximum of which shall be $5,000.
(d) The Servicer shall be charged and shall pay to the Backup Servicer a monthly fee at a rate of $1,000 per month for the Trust pursuant to the Sale and Servicing
Backup Servicing Fee. The Backup Servicing Fee shall equal the product of (a) one-fourth, (b) the Backup Servicing Fee Rate and (c) the Pool Balance as of the first day of the preceding Collection Period.