Common use of Costs of Servicing; Servicing Fee; Administrative Expenses Clause in Contracts

Costs of Servicing; Servicing Fee; Administrative Expenses. (a) All costs of servicing each Lease in the manner required by this Section 4 shall be borne by the Servicer, but the Servicer shall be entitled to retain, out of any amounts actually recovered by the Servicer in the performance of its obligations under Section 4.03 hereof with respect to any Lease or the interests in the Equipment subject thereto, the Servicer's actual out-of-pocket expenses reasonably incurred in the course of such performance with respect to such Lease or the interests in the Equipment. (For all purposes of this Section 4 the Servicer's "out-of-pocket expenses" means only those expenses incurred to third parties (e.g., reasonable fees of outside counsel in a collection suit) and not salaries, operating costs, overtime wages and other such "overhead" costs or expenses of the Servicer.) In addition, the Servicer shall be entitled to receive on each Payment Date following the Issuance Date a servicing fee with respect to the Notes (the "Servicing Fee"). Any amounts properly retained by the Servicer pursuant to this Section are, without further action by the Trustee, released from the Lien of the Indenture. (b) The amount of the Servicing Fee which the Servicer shall be entitled to receive on each Payment Date following the original issuance of the Notes shall be determined by multiplying one-twelfth of 0.75% by the lesser of (i) the Discounted Present Value of the Performing Leases or (ii) the Outstanding Principal Amount of the Notes, in each case at the Determination Date for such Payment Date before application of payments with respect thereto. (c) The Servicer agrees to pay, out of the Servicing Fee, all Trustee Fees and expenses of the Trustee in connection with the Notes (including the expenses relating to the preparation and delivery of reports to Noteholders) and all fees of accountants in connection with the Notes.

Costs of Servicing; Servicing Fee; Administrative Expenses. (a) All costs of servicing each Lease in the manner required by this Section 4 3 shall be borne by the Servicer, but the Servicer shall be entitled to retain, out of any amounts actually recovered by the Servicer in the performance of its obligations under Section 4.03 3.03 hereof with respect to any Lease or the interests in the Equipment subject thereto, the Servicer's actual out-of-pocket expenses reasonably incurred in the course of such performance with respect to such Lease or the interests in the Equipment. (For all purposes of this Section 4 3 the Servicer's "out-of-pocket expenses" means only those expenses incurred to third parties (e.g., reasonable fees of outside counsel in a collection suit) and not salaries, operating costs, overtime wages and other such "overhead" costs or expenses of the Servicer.) In addition, the Servicer shall be entitled to receive from the Company on each Payment Date following the Issuance Closing Date a servicing fee with respect to the Notes (the "Servicing Fee"). Any amounts properly retained by ) in the Servicer pursuant to this Section are, without further action by the Trustee, released from the Lien of the Indentureamount described in paragraph (b) below. (b) The amount of the Servicing Fee which the Servicer shall be entitled to receive on each Payment Date following the original issuance of the Notes shall be determined by multiplying one-twelfth of 0.75% by the lesser of (i) the Discounted Present Value of the Performing Leases or (ii) the Outstanding Principal Amount of the Notes, in each case Notes at the Determination Date for such Payment Date before application times one-twelfth of payments with respect thereto0.75%. (c) The Servicer agrees to pay, out of the Servicing Fee, all Trustee Trustee's Fees and expenses of the Trustee in connection with the Notes (including the expenses relating to the preparation and delivery of reports to Noteholders) and all fees of accountants in connection with the Notes.

Costs of Servicing; Servicing Fee; Administrative Expenses. (a) All costs of servicing each Lease in the manner required by this Section 4 3 shall be borne by the Servicer, but the Servicer shall be entitled to retain, out of any amounts actually recovered by the Servicer in the performance of its obligations under Section 4.03 3.03 hereof with respect to any Lease or the interests in the Equipment subject thereto, the Servicer's actual out-of-pocket expenses reasonably incurred in the course of such performance with respect to such Lease or the interests in the Equipment. (For all purposes of this Section 4 3 the Servicer's "out-of-pocket expenses" means only those expenses incurred to third parties (e.g., reasonable fees of outside counsel in a collection suit) and not salaries, operating costs, overtime wages and other such "overhead" costs or expenses of the Servicer.) In addition, the Servicer shall be entitled to receive from the Issuer on each Payment Date following the Issuance Date a servicing fee with respect to the Receivables Notes (the "Servicing Fee"). Any ) and a servicing fee with respect to the Class R Notes (the "Residual Servicing Fee") in the amounts properly retained by the Servicer pursuant to this Section are, without further action by the Trustee, released from the Lien of the Indenturedescribed in paragraph (b) below. (b) The amount of the Servicing Fee which the Servicer shall be entitled to receive on each Payment Date following the original issuance of the Receivables Notes shall be determined by multiplying one-twelfth of 0.75% by the lesser of (i) the Discounted Present Value of the Performing Leases or as of the prior Payment Date times (ii) the Outstanding Principal Amount one-twelfth of 0.75%. The amount of the Notes, in Residual Servicing Fee which the Servicer shall be entitled to receive on each case at Payment Date following the Determination issuance of the Class R Notes shall be determined by multiplying (i) the Booked Residual Values as of the prior Payment Date for such Payment Date before application all Performing Leases times (ii) one-twelfth of payments with respect thereto0.75%. (c) The Servicer agrees to pay, out of the Servicing Fee, all Trustee Fees and expenses of the Trustee in connection with the Notes (including the expenses relating to the preparation and delivery of reports to Noteholders) and all fees of accountants in connection with the Notes.

Costs of Servicing; Servicing Fee; Administrative Expenses. (a) All costs of servicing each Lease in the manner required by this Section 4 shall be borne by the Servicer, but the Servicer shall be entitled to retain, out of any amounts actually recovered by the Servicer in the performance of its obligations under Section 4.03 hereof with respect to any Lease or the interests in the Equipment subject thereto, the Servicer's actual out-of-pocket expenses reasonably incurred in the course of such performance with respect to such Lease or the interests in the Equipment. (For all purposes of this Section 4 the Servicer's "out-of-pocket expenses" means only those expenses incurred to third parties (e.g., reasonable fees of outside counsel in a collection suit) and not salaries, operating costs, overtime wages and other such "overhead" costs or expenses of the Servicer.) In addition, the Servicer shall be entitled to receive on each Payment Date following the Issuance Date a servicing fee with respect to the Notes (the "Servicing Fee"). Any amounts properly retained by the Servicer pursuant to this Section are, without further action by the Trustee, released from the Lien of the Indenture. (b) The amount of the Servicing Fee which the Servicer shall be entitled to receive on each Payment Date following the original issuance of the Notes shall be determined by multiplying one-twelfth of 0.75% by the lesser of (i) the Discounted Present Value of the Performing Leases or (ii) the Outstanding Principal Amount of the Notes, in each case at the Determination Date for such Payment Date before application of payments with respect thereto. (c) The Servicer agrees to pay, out of the Servicing Fee, all Trustee Fees and expenses (including reasonable legal fees and expenses) of the Trustee in connection with the Notes (including the expenses relating to the preparation and delivery of reports to Noteholders) and all fees of accountants in connection with the Notes.

Costs of Servicing; Servicing Fee; Administrative Expenses. (a) All costs of servicing each Lease in the manner required by this Section 4 3 shall be borne by the Servicer, but the Servicer shall be entitled to retain, out of any amounts actually recovered by the Servicer in the performance of its obligations under Section 4.03 3.03 hereof with respect to any Lease or the interests in the Equipment subject thereto, the Servicer's actual out-of-pocket expenses reasonably incurred in the course of such performance with respect to such Lease or the interests in the Equipment. (For all purposes of this Section 4 3 the Servicer's "out-of-pocket expenses" means only those expenses incurred to third parties (e.g., reasonable fees of outside counsel in a collection suit) and not salaries, operating costs, overtime wages and other such "overhead" costs or expenses of the Servicer.) In addition, the Servicer shall be entitled to receive from the Issuer on each Payment Date following the Issuance Date a servicing fee with respect to the Receivables Notes (the "Servicing Fee"). Any ) and a servicing fee with respect to the Class R Notes (the "Residual Servicing Fee") in the amounts properly retained by the Servicer pursuant to this Section are, without further action by the Trustee, released from the Lien of the Indenturedescribed in paragraph (b) below. (b) The amount of the Servicing Fee which the Servicer shall be entitled to receive on each Payment Date following the original issuance of the Receivables Notes shall be determined by multiplying one-twelfth of 0.75% by the lesser of (i) the Discounted Present Value of the Performing Leases or as of the prior Payment Date times (ii) the Outstanding Principal Amount one-twelfth of 0.75%. The amount of the Notes, in Residual Servicing Fee which the Servicer shall be entitled to receive on each case at Payment Date following the Determination issuance of the Class R Notes shall be determined by multiplying (i) the Booked Residual Values as of the prior Payment Date for such Payment Date before application all Performing Leases times (ii) one-twelfth of payments with respect thereto0.75%. (c) The Servicer agrees to pay, out of the Servicing Fee, all Trustee Trustee's Fees and expenses of the Trustee in connection with the Notes (including the expenses relating to the preparation and delivery of reports to Noteholders) and all fees of accountants in connection with the Notes.

Costs of Servicing; Servicing Fee; Administrative Expenses. (a) All costs of servicing each Lease in the manner required by this Section 4 shall be borne by the Servicer, but the Servicer shall be entitled to retain, out of any amounts actually recovered by the Servicer in the performance of its obligations under Section 4.03 hereof with respect to any Lease or the interests in the Equipment subject thereto, the Servicer's actual out-of-pocket expenses reasonably incurred in the course of such performance with respect to such Lease or the interests in the Equipment. (For all purposes of this Section 4 the Servicer's "out-of-pocket expenses" means only those expenses incurred to unaffiliated third parties (e.g., including, without limitation, reasonable fees of outside counsel in a collection suitsuit and collection agents) and not salaries, operating costs, overtime wages and other such "overhead" costs or expenses of the Servicer.) In addition, the Servicer shall be entitled to receive on each Payment Date following the Issuance Date a servicing fee with respect to the Notes (the "Servicing Fee"). Any amounts properly retained by the Servicer pursuant to this Section are, without further action by the Trustee, released from the Lien of the Indenture. (b) The amount of the Servicing Fee which the Servicer shall be entitled to receive on each Payment Date following the original issuance of the Notes shall be determined by multiplying one-twelfth of 0.75% by the lesser of (i) the Discounted Present Value of the Performing Leases or (ii) the Outstanding Principal Amount of the Notes, in each case at the Determination Date for such Payment Date before application of payments with respect thereto. The Insurer may direct that the Servicing Fee payable to a successor servicer may be increased to a market rate in the event that IOS Capital is no longer acting as servicer. (c) The Servicer agrees to pay, out of the Servicing Fee, all Trustee Fees and expenses of the Trustee in connection with the Notes (including the expenses relating to the preparation and delivery of reports to Noteholders) and all fees of accountants in connection with the Notes.

Costs of Servicing; Servicing Fee; Administrative Expenses. (a) All costs of servicing each Lease in the manner required by this Section 4 Article IV shall be borne by the Servicer, but the Servicer shall be entitled to retain, out of any amounts actually recovered by the Servicer in the performance of its obligations under Section 4.03 hereof 4.5 with respect to any Lease or the interests in the Equipment subject thereto, the Servicer's actual out-of-pocket expenses reasonably incurred in the course of such performance with respect to such Lease or the interests in the Equipment. (For all purposes of this Section 4 the Article IV Servicer's "out-of-pocket expenses" means only those expenses incurred to third parties (e.g., reasonable fees of outside counsel in a collection suit) and not salaries, operating costs, overtime wages and other such "overhead" costs or expenses of the Servicer.) In addition, Servicer shall be entitled to receive from Issuer on each Payment Date following the Closing Date a servicing fee (the "Servicing Fee") in the amount described in paragraph (b) and the Supplemental Servicing Fee described in paragraph (d). (b) The amount of the Servicing Fee which Servicer shall be entitled to receive on each Payment Date following the Issuance Closing Date a servicing fee with respect to the Notes (the "Servicing Fee"). Any amounts properly retained by the Servicer pursuant to this Section are, without further action by the Trustee, released from the Lien of the Indenture. (b) The amount of the Servicing Fee which the Servicer shall be entitled to receive on each Payment Date following the original issuance of the Notes shall be determined by multiplying one-twelfth of 0.75% by times the lesser of (i) the sum of the aggregate Outstanding Principal Amount of the Notes and the Certificate Balance, each calculated as of the preceding Payment Date, after giving effect to all payments made on such Payment Date, and (ii) the Discounted Present Value of the Performing Leases or (ii) the Outstanding Principal Amount calculated as of the Notes, in each case at the related Determination Date for such Payment Date before application of payments with respect theretoDate. (c) The Servicer agrees to pay, out of the Servicing Fee, the Management Fee, all Trustee Fees Indenture Trustee's and Trustee's fees and expenses of the Trustee in connection with the Notes and the Certificates (including the expenses relating to the preparation and delivery of reports to NoteholdersNoteholders and Certificateholders) and all fees of accountants in connection with the NotesNotes and the Certificates. (d) Servicer shall be permitted to collect and retain any late fees, extension fees, prepayment charges and certain non-sufficient funds charges and other administrative fees or similar charges (the "Supplemental Servicing Fee") allowed by applicable law with respect to the Leases.

Costs of Servicing; Servicing Fee; Administrative Expenses. (a) All costs of servicing each Lease in the manner required by this Section 4 shall be borne by the Servicer, but the Servicer shall be entitled to retain, out of any amounts actually recovered by the Servicer in the performance of its obligations under Section 4.03 hereof with respect to any Lease or the interests in the Equipment subject thereto, the Servicer's actual out-of-pocket expenses reasonably incurred in the course of such performance with respect to such Lease or the interests in the Equipment. (For all purposes of this Section 4 the Servicer's "out-of-pocket expenses" means only those expenses incurred to third parties (e.g., reasonable fees of outside counsel in a collection suit) and not salaries, operating costs, overtime wages and other such "overhead" costs or expenses of the Servicer.) In addition, the Servicer shall be entitled to receive from the Issuer on each Payment Date following the Issuance Date a servicing fee with respect to the Notes (the "Servicing Fee"). Any amounts properly retained by the Servicer pursuant to this Section are, without further action by the Trustee, released from the Lien of the Indenture. (b) The amount of the Servicing Fee which the Servicer shall be entitled to receive on each Payment Date following the original [original] issuance of the Notes shall be determined by multiplying one-twelfth of 0.75% by the lesser of (i) the Discounted Present Value of the Performing Leases or as of the prior Payment Date times (ii) the Outstanding Principal Amount one-twelfth of the Notes, in each case at the Determination Date for such Payment Date before application of payments with respect thereto[ ]%. (c) The Servicer agrees to pay, out of the Servicing Fee, all Trustee Trustee's Fees and expenses of the Trustee in connection with the Notes (including the expenses relating to the preparation and delivery of reports to Noteholders) and all fees of accountants in connection with the Notes.

Costs of Servicing; Servicing Fee; Administrative Expenses. (a) All costs of servicing each Lease in the manner required by this Section 4 shall be borne by the Servicer, but the Servicer shall be entitled to retain, out of any amounts actually recovered by the Servicer in the performance of its obligations under Section 4.03 hereof with respect to any Lease or the interests in the Equipment subject thereto, the Servicer's actual out-of-pocket expenses reasonably incurred in the course of such performance with respect to such Lease or the interests in the Equipment. (For all purposes of this Section 4 the Servicer's "out-of-pocket expenses" means only those expenses incurred to third parties (e.g., reasonable fees of outside counsel in a collection suit) and not salaries, operating costs, overtime wages and other such "overhead" costs or expenses of the Servicer.) In addition, the Servicer shall be entitled to receive from the Trust on each Payment Date following the Issuance Closing Date a servicing fee with respect to the Receivables Notes (the "Servicing Fee"). Any ) and a servicing fee with respect to the Class R Notes (the "Residual Servicing Fee") in the amounts properly retained by the Servicer pursuant to this Section are, without further action by the Trustee, released from the Lien of the Indenturedescribed in paragraph (b) below. (b) The amount of the Servicing Fee which the Servicer shall be entitled to receive on each Payment Date following the original issuance of the Receivables Notes shall be determined by multiplying one-twelfth of 0.75% by the lesser of (i) the Discounted Present Value of the Performing Leases or as of the prior Payment Date times (ii) the Outstanding Principal Amount one-twelfth of 0.75%. The amount of the Notes, in Residual Servicing Fee which the Servicer shall be entitled to receive on each case at Payment Date following the Determination issuance of the Class R Notes shall be determined by multiplying (i) the Booked Residual Values as of the prior Payment Date for such Payment Date before application all Performing Leases times (ii) one-twelfth of payments with respect thereto0.75%. (c) The Servicer agrees to pay, out of the Servicing Fee, all Trustee Trustee's Fees and expenses of the Trustee in connection with the Notes (including the expenses relating to the preparation and delivery of reports to Noteholders) and all fees of accountants in connection with the Notes.