Master Servicer Compensation Sample Clauses
The Master Servicer Compensation clause defines how and when the master servicer is paid for its services in managing a pool of loans or assets. Typically, this clause outlines the calculation method for compensation, such as a percentage of collected payments or a fixed fee, and specifies the timing and source of payments, often from the cash flows generated by the underlying assets. Its core practical function is to ensure the master servicer is properly incentivized and compensated for its ongoing administrative duties, thereby supporting the smooth operation and servicing of the asset pool.
Master Servicer Compensation. Section 3.19 Annual Statement as to Compliance.........................
Master Servicer Compensation. As compensation for its services hereunder, the Master Servicer shall be entitled to 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. 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. 98 Section 4.13 Adjustment of Master Servicer's Compensation...................................................98 Section 4.14 Implementation of Operations and Maintenance Plans.............................................99 Section 4.15
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, for a ------------- period of each full month, be equal to one-twelfth of the product of (a) the Master Servicing Fee Rate and (b) the Scheduled Principal Balance of such Mortgage Loan as of the Due Date in the preceding calendar month or, in the case of the initial Master Remittance Date for such Mortgage Loan, the outstanding principal balance of such Mortgage Loan as of the Cut-off Date. Notwithstanding the foregoing, the Master Servicer shall not be entitled to a Master Servicing Fee with respect to the Combined Servicing Mortgage Loans, but solely to the Primary Servicing Fee described in the second sentence of Section 4.12. 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 or REO Proceeds with respect to such Mortgage Loan, to the extent permitted by Section 5.03 hereof. The Master Servicer shall also be entitled to receive as part of its servicing compensation reinvestment income pursuant to Section 5.02(b).
(b) No transfer, sale, pledge or other disposition of the Master Servicer's right to receive all or any portion of the fees it is entitled to receive for services under this Agreement shall be made, and any such attempted transfer, sale, pledge or other disposition shall be void, unless such transfer is made to a successor servicer in connection with the assumption by such successor servicer of the duties hereunder pursuant to Section 3.10 and all (and not a portion) of the Master Servicing Fees are transferred to such successor servicer.
Master Servicer Compensation. The Master Servicer Fee and other amounts to which the Master Servicer is entitled pursuant to Section 4.01(a) hereof.
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.