Program Fee

Program Fee. At the Program Fee Specified Percentage of the daily average aggregate outstanding Capital of the Receivable Interests funded by CAFCO from the Closing Date until the Facility Termination Date. As used herein the term "Program Fee Specified Percentage" means (i) for each day that FMC shall have the Required Tier-1 Ratings, 0.25% per annum, (ii) for each day that FMC shall have the Required Tier-2 Ratings, 0.25% per annum, (iii) for... each day that FMC 3 shall have the Required Tier-3 Ratings, 0.50% per annum, and (iv) for each day that FMC shall have the Required Tier-4 Ratings, 0.50% per annum. View More