Successor Servicing Fee

Successor Servicing Fee. Shall mean, for any Settlement Period, the fee payable pursuant to Section 2.03(a)(iv) on the related Remittance Date by the Company to the successor Collection Agent appointed pursuant to Section 6.1 of this Agreement, in an amount equal to the greater of (i) the Servicing Fee and (ii) an amount not to exceed 110% of the then-current "market-rate" fee for servicing assets comparable to the Contracts, 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 it sole discretion. View More