Common use of Master Servicing Fee Clause in Contracts

Master Servicing Fee. On or before the last day of each month (the "Payment Date"), the Issuer shall pay to the Master Servicer, as compensation for its services specified hereunder, a fee in the amount of .02% (on a per annum basis) of the aggregate principal amount of the Student Loans subject to this Agreement (the "Master Servicing Fee"). The Master Servicing Fee will be determined on the basis of the aggregate outstanding principal amount of Student Loans subject to this Agreement as of the first day of the month of each such Payment Date. The Issuer agrees to reimburse the Master Servicer for all reasonable expenses, disbursements and advances incurred or made by the Master Servicer in connection with the performance of this Agreement, including, but not limited to, the fees and expenses of obtaining Servicers, subcontracting, any independent accountants and outside counsel, which reimbursement shall relate to amounts incurred in a calendar month and shall be payable by the Issuer to the Master Servicer on the next succeeding Payment Date.

Master Servicing Fee. On or before the last day of each month (the "Payment Date"), the Issuer shall pay to the Master Servicer, as compensation for its services specified hereunder, a fee in the amount of .02% (on a per annum basis) of the total aggregate principal amount of the Student Loans subject to this Agreement (the "Master Servicing Fee")Agreement. The Master Servicing Fee monthly fee will be determined on the basis of the total aggregate outstanding principal amount of Student Loans subject to this Agreement as of the first day of the month of each such Payment Date. The Issuer agrees to reimburse the Master Servicer for all reasonable expenses, disbursements and advances incurred or made by the Master Servicer in connection with the performance of this Agreement, including, but not limited to, the fees and expenses of obtaining Servicers, subcontracting, any independent accountants and outside counsel, which reimbursement shall relate to amounts incurred in a calendar month and shall be payable by the Issuer to the Master Servicer on the next succeeding Payment Date.