Common use of CARRYOVER SERVICING FEES Clause in Contracts

CARRYOVER SERVICING FEES. Any future additional fees provided for under this Section 9(b) due from the Trust shall be referred to collectively as "Carryover Servicing Fees," and payment of such Carryover Servicing Fees shall be deferred during any time that funds are not available and sufficient to pay the same pursuant to the terms of the Indenture. The parties agree that should Master Servicer be required to make material changes to its current servicing practices or servicing system due to changes to the Education Act, Regulations, and/or business environment, or to other costs beyond the Master Servicer's control, including but not limited to postal fees, the Master Servicer may renegotiate the Servicing Fees with the Trust to reasonably reflect those increased costs at any time during the term of this Agreement and that any additional fees imposed as a result of such renegotiation shall be Carryover Servicing Fees. The Servicing Fee shall be subject to renegotiation every three years, subject to the renegotiated fees meeting approval of the Rating Agencies and any increase in the Servicing Fee as a result of such renegotiation being deemed Carryover Servicing Fees. In the event the parties cannot agree to new fees for each three year period, then either party may terminate this Agreement upon 90 days written notice to the other.

CARRYOVER SERVICING FEES. Any The late fees described in 9(a) above and any future additional fees provided for under this Section 9(b) due from the Trust shall be referred to collectively as "Carryover Servicing Fees," and payment of such Carryover Servicing Fees shall be deferred during any time that funds are not available and sufficient to pay the same pursuant to the terms of the Indenture. The parties agree that should Master Servicer Subservicer be required to make material changes to its current servicing practices or servicing system due to changes to the Education Act, Regulations, and/or business environment, or to other costs beyond the Master ServicerSubservicer's control, including but not limited to postal fees, the Master Servicer Subservicer may renegotiate the Servicing Fees with the Trust Master Servicer to reasonably reflect those increased costs at any time during the term of this Agreement and that any additional fees imposed as a result of such renegotiation shall be Carryover Servicing Fees. The Servicing Fee shall be subject to renegotiation every three years, subject to the renegotiated fees meeting approval of the Rating Agencies and any increase in the Servicing Fee as a result of such renegotiation being deemed Carryover Servicing Fees. In the event the parties cannot agree to new fees for each three year period, then either party may terminate this Agreement upon 90 days written notice to the other.

CARRYOVER SERVICING FEES. Any The late fees described in 9(a) above and any future additional fees provided for under this Section 9(b) due from the Trust shall be referred to collectively as "Carryover Servicing Fees," and payment of such Carryover Servicing Fees shall be deferred during any time that funds are not available and sufficient to pay the same pursuant to the terms of the Indenture. The parties agree that should Master Servicer be required to make material changes to its current servicing practices or servicing system due to changes to the Education Act, Regulations, and/or business environment, or to other costs beyond the Master Servicer's control, including but not limited to postal fees, the Master Servicer may renegotiate the Servicing Fees with the Trust to reasonably reflect those increased costs at any time during the term of this Agreement and that any additional fees imposed as a result of such renegotiation shall be Carryover Servicing Fees. The Servicing Fee shall be subject to renegotiation every three years, subject to the renegotiated fees meeting approval of the Rating Agencies and any increase in the Servicing Fee as a result of such renegotiation being deemed Carryover Servicing Fees. In the event the parties cannot agree to new fees for each three year period, then either party may terminate this Agreement upon 90 days written notice to the other.

CARRYOVER SERVICING FEES. Any The late fees described in 9(a) above and any future additional fees provided for under this Section 9(b) due from the Trust shall be referred to collectively as "Carryover Servicing Fees," and payment of such Carryover Servicing Fees shall be deferred during any time that funds are not available and sufficient to pay the same pursuant to the terms of the Indenture. The parties agree that should Master Servicer be required to make material changes to its current servicing practices or servicing system due to changes to the Education Act, Regulations, and/or business environment, or to other costs beyond the Master Servicer's control, including but not limited to postal fees, the Master Servicer may renegotiate the Servicing Fees with the Trust to reasonably reflect those increased costs at any time during the term of this Agreement and that any additional fees imposed as a result of such renegotiation shall be Carryover Servicing Fees. The Servicing Fee shall be subject to renegotiation every three years, subject to the renegotiated fees meeting approval of the Rating Agencies and any increase in the Servicing Fee as a result of such renegotiation being deemed Carryover Servicing Fees. In the event the parties cannot agree to new fees for each three year period, then either party may terminate this Agreement upon 90 days written notice to the other.

CARRYOVER SERVICING FEES. Any future additional fees provided for under this Section 9(b) due from the Trust shall be referred to collectively as "“Carryover Servicing Fees," ” and payment of such Carryover Servicing Fees shall be deferred during any time that funds are not available and sufficient to pay the same pursuant to the terms of the Indenture. The parties agree that should Master Servicer be required to make material changes to its current servicing practices or servicing system due to changes to the Education Act, Regulations, and/or business environment, or to other costs beyond the Master Servicer's ’s control, including but not limited to postal fees, the Master Servicer may renegotiate the Servicing Fees with the Trust to reasonably reflect those increased costs at any time during the term of this Agreement and that any additional fees imposed as a result of such renegotiation shall be Carryover Servicing Fees. The Servicing Fee shall be subject to renegotiation every three years, subject to the renegotiated fees meeting approval of the Rating Agencies and any increase in the Servicing Fee as a result of such renegotiation being deemed Carryover Servicing Fees. In the event the parties cannot agree to new fees for each three year period, then either party may terminate this Agreement upon 90 days written notice to the other. Any increase in the Servicing Fee as provided for herein, irrespective of whether it is a one-time or ongoing increase, shall be subject to a Rating Confirmation.

CARRYOVER SERVICING FEES. Any The late fees described in 9(a) above and any future additional fees provided for under this Section 9(b) due from the Trust shall be referred to collectively as "“Carryover Servicing Fees," ” and payment of such Carryover Servicing Fees shall be deferred during any time that funds are not available and sufficient to pay the same pursuant to the terms of the Indenture. The parties agree that should Master Servicer Subservicer be required to make material changes to its current servicing practices or servicing system due to changes to the Education Act, Regulations, and/or business environment, or to other costs beyond the Master Servicer's Subservicer’s control, including but not limited to postal fees, the Master Servicer Subservicer may renegotiate the Servicing Fees with the Trust Master Servicer to reasonably reflect those increased costs at any time during the term of this Agreement and that any additional fees imposed as a result of such renegotiation shall be Carryover Servicing Fees. The Servicing Fee shall be subject to renegotiation every three years, subject to the renegotiated fees meeting approval of the Rating Agencies and any increase in the Servicing Fee as a result of such renegotiation being deemed Carryover Servicing Fees. In the event the parties cannot agree to new fees for each three year period, then either party may terminate this Agreement upon 90 days written notice to the other. Any increase in the Servicing Fee as provided for herein, irrespective of whether it is a one-time or ongoing increase, shall be subject to a Rating Confirmation.