Common use of Servicer Fee Clause in Contracts

Servicer Fee. Notwithstanding anything to the contrary in Section 3.9(b) of the Closed-End Servicing Agreement, on each Closed-End Exchange Note Payment Date, the Titling Trust will cause the Closed-End Administrative Agent to pay to the Servicer in accordance with Section 13.2 of the Exchange Note Supplement, the Servicing Fee for the immediately preceding Closed-End EN Collection Period as compensation for its services. In addition, the Servicer may retain any Supplemental Servicing Fees. The Servicer may, as long as it believes that sufficient collections will be available on one or more future Closed-End Exchange Note Payment Dates to pay the Servicing Fee, by notice to the Closed-End Administrative Agent on or before a Closed-End Exchange Note Payment Date, elect to defer all or a portion of the Servicing Fee with respect to the related Closed-End EN Collection Period, without interest. If the Servicer defers all of the Servicing Fee, the Servicing Fee for such related Closed-End EN Collection Period will be deemed to equal zero.