Common use of Master Servicing Fee Clause in Contracts

Master Servicing Fee. (a) The Master Servicing Fee for each calendar month and each group of Financed Student Loans payable on each Monthly Servicing Payment Date shall be equal to the amounts determined by reference to the schedule of fees as set forth in the Servicing Fee Schedule, attached hereto as Schedule E. (b) The Master Servicer hereby agrees and acknowledges that as part of the consideration represented by the Master Servicing Fee, the Master Servicer will make the representations and warranties with respect to the QSPE Student Loans contained in Section 3.01 and undertakes the purchase obligations with respect to any breach of such representations and warranties set forth in Section 3.02. The parties to this Agreement each hereby acknowledges that the purchase of the QSPE Student Loans by the Trust would not be possible without the Master Servicer agreeing to make such representations and warranties and undertake such related purchase obligations.