Master Servicer Compensation. Section 3.19 Annual Statement as to Compliance.........................
Master Servicer Compensation. Master servicing compensation in the form of Master Servicer Custodial Account Reinvestment Income shall be remitted to the Master Servicer pursuant to Section 3.12. The Master Servicer shall be required to pay all expenses incurred by it in connection with its master servicing activities hereunder and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Master Servicer Compensation. As compensation for its services hereunder, the Master Servicer shall be entitled to a fee in an amount agreed upon between the Master Servicer and the Securities Administrator, payable by the Securities Administrator out of its own funds and not out of any funds of the Trust Estate. The Master Servicer shall also be entitled to additional compensation in the form of the Master Servicer Custodial Account Reinvestment Income. The Master Servicer shall be required to pay all expenses incurred by it in connection with its master servicing activities hereunder and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Master Servicer Compensation. 90 Section 3.19 Advances...................................................................................90 Section 3.20 Annual Statement as to Compliance..........................................................90 Section 3.21 Assessments of Compliance and Attestation Reports..........................................91 Section 3.22 Reports to the Commission..................................................................93
Master Servicer Compensation. (a) Subject to Section 4.03(c) of the Indenture, as compensation for its services hereunder, the Master Servicer shall receive a fee (the "Master Servicing Fee") equal to 0.10% of the average monthly outstanding principal balance of the Financed Student Loans.
(b) The Master Servicer shall submit an invoice monthly to the Issuer for the Master Servicing Fee, and the Issuer shall direct the Indenture Trustee to remit payment therefor as shown on that invoice, but only to the extent of moneys available for payment therefor in the Distribution Account or Collection Account.
(c) Payment is due within thirty (30) days after receipt of the billing package. The billing package shall consist of an invoice and supporting documentation.
(d) The Master Servicer acknowledges that the Issuer shall be entitled to receive all payments of principal, interest and late charges received with respect to the Financed Student Loans and that the Master Servicer shall have no right to retain such amounts as payment of any fees due to the Master Servicer from the Issuer under the terms of this Agreement. The Issuer hereby authorizes the Master Servicer to assess, collect and retain any charges which the Issuer is permitted by law or regulation to assess with respect to not sufficient funds ("NSF") processing or other collection costs.
Master Servicer Compensation. (1) Subject to Section 4.03(c) of the Indenture, as compensation for its services hereunder, the Master Servicer shall receive a fee (the "Master Servicing Fee") equal to 0.10% of the average monthly outstanding principal balance of the Financed Student Loans.
(2) The Master Servicer shall submit an invoice monthly to the Issuer for the Master Servicing Fee, and the Issuer shall direct the Indenture Trustee to remit payment therefor as shown on that invoice, but only to the extent of moneys available for payment therefor in the Distribution Account or Collection Account.
(3) Payment is due within thirty (30) days after receipt of the billing package. The billing package shall consist of an invoice and supporting documentation.
(4) The Master Servicer acknowledges that the Issuer shall be entitled to receive all payments of principal, interest and late charges received with respect to the Financed Student Loans and that the Master Servicer shall have no right to retain such amounts as payment of any fees due to the Master Servicer from the Issuer under the terms of this Agreement. The Issuer hereby authorizes the Master Servicer to assess, collect and retain any charges which the Issuer is permitted by law or regulation to assess with respect to not sufficient funds ("NSF") processing or other collection costs.
Master Servicer Compensation. (a) The Master Servicer shall be entitled to a fee (the "Master Servicing Fee"), with respect to each Mortgage Loan that shall be equal to the product of (a) the related Master Servicing Fee Rate and (b) the Stated Principal Balance of such Mortgage Loan as of the Due Date in the preceding calendar month calculated for the same period respecting which any related interest payment on each Mortgage Loan is calculated. The Master Servicing Fee is payable solely from the interest portion of the Monthly Payment on the related Mortgage Loan plus Liquidation Proceeds, Excess Insurance Proceeds, Excess Condemnation Proceeds and REO Proceeds with respect to such Mortgage Loan, to the extent permitted by Section 4.03(a)(ii) hereof. The Master Servicer shall also be entitled to receive as part of its servicing compensation net reinvestment income pursuant to Sections 4.02(b) and 4.06(b), and certain fees described in clause (2) of Section 4.02(c) with respect to any Mortgage Loan that is not a Specially Serviced Mortgage Loan (subject to 4.08(d) and except for NSF check charges which may be retained by the Master Servicer for any Mortgage Loan) and as otherwise permitted under this Agreement.
(b) The Master Servicer shall be entitled to receive the following items as additional servicing compensation (the following items, collectively, "Additional Master Servicing Compensation"):
(i) pursuant to Sections 3.18(d), 4.08(d) and 6.13, 50% of any and all Net Assumption Fees, modification fees, extension fees, consent fees, waiver fees and earnout fees actually paid by a Mortgagor with respect to any Mortgage Loan (other than with respect to any Specially Serviced Mortgage Loan) for which the Master Servicer has not engaged a subservicer;
(ii) pursuant to Sections 3.18(d), 4.08(d) and 6.13, 87.5% of any and all Net Assumption Fees, modification fees, extension fees, consent fees, waiver fees and earnout fees actually paid by a Mortgagor with respect to any Mortgage Loan (other than with respect to any Specially Serviced Mortgage Loan) for which the Master Servicer has engaged a subservicer (it being expressly understood that (A) 75% of such fees will be paid to the Master Servicer for further payment to any such subservicer and (B) the Master Servicer shall be entitled to retain 12.5% of any such fees as Additional Master Servicing Compensation);
(iii) any and all charges for beneficiary statements or demands, amounts collected for checks returned for insufficient funds an...
Master Servicer Compensation. 75 SECTION 4.13 Adjustment of Master Servicer's Compensation. . . . . 76 SECTION 4.14 Implementation of Operations and Maintenance Plans. . 76 SECTION 4.15
Master Servicer Compensation. The Master Servicer shall be entitled to an amount equal to the Master Servicer Fee for such Distribution Date. Additional master servicing compensation in the form of Certificate Account Reinvestment Income shall be remitted to the Master Servicer pursuant to Section 3.09. The Master Servicer shall be required to pay all expenses incurred by it in connection with its master servicing activities hereunder and shall not be entitled to reimbursement therefor except as specifically provided in this Agreement.
Master Servicer Compensation. The Master Servicer Fee and other amounts to which the Master Servicer is entitled pursuant to Section 4.01(a) hereof.
