Common use of General Servicing Obligations Clause in Contracts

General Servicing Obligations. The Servicer will manage, service, administer and collect on the Leases and Leased Vehicles with reasonable care using that degree of skill and attention that the Servicer exercises for comparable motor vehicle leases that it services for itself and others according to the Servicing Procedures and will comply with all material requirements of law. The Servicer’s obligations will include: (i) collecting and applying (A) all amounts received from Lessees on the Leases (including Excess Mileage and Excess Wear and Use and any security deposits applied to pay amounts that a Lessee fails to pay on a Lease), (B) all proceeds received from claims on insurance companies for insurance covering the Leased Vehicles or Lessees, (C) all amounts received on the Leases for Dealer Recourse, (D) all proceeds realized on the sale or other disposition of the Leased Vehicles and (E) all net recoveries for charged-off Leases; (ii) collecting and paying state and local fees and taxes relating the Leases and Leased Vehicles; (iii) investigating delinquencies; (iv) sending invoices and notices and responding to inquiries from Lessees; (v) processing requests for Payment Extensions, Term Extensions and other modifications and adjustments; (vi) administering Lease terminations, payoffs, defaults and delinquencies; (vii) repossessing or otherwise converting the possession of Leased Vehicles under Leases that the Servicer determines are unlikely to be paid in full; (viii) selling, on behalf of the applicable Titling Company, repossessed Leased Vehicles at public or private sale and selling or otherwise disposing of Leased Vehicles returned on termination of the Leases or otherwise; (ix) refunding amounts to Lessees under the Leases; (x) collecting any remaining balance on the Leases after disposing of the Leased Vehicles; (xi) maintaining accurate and complete accounts and receivables systems for servicing the Leases; (xii) providing to the Custodian copies, or access to, any documents and correspondence in the Lease Files; and (xiii) providing Revolving Facility Pool Reports, Monthly Investor Reports and other reports required to be provided by the Servicer under this Agreement, any Servicing Supplement and any other Basic Document or Exchange Note Basic Document; The Servicer will comply with all material requirements of applicable law in performing its obligations as servicer of the Leases.

General Servicing Obligations. The Servicer will manage, service, administer and collect on the Leases and Leased Vehicles with reasonable care using that degree of skill and attention that the Servicer exercises for comparable motor vehicle leases that it services for itself and others according to the Servicing Procedures and will comply with all material requirements of law. The Servicer’s 's obligations will include: (i) collecting and applying (A) all amounts received from Lessees on the Leases (including Excess Mileage and Excess Wear and Use and any security deposits applied to pay amounts that a Lessee fails to pay on a Lease), (B) all proceeds received from claims on insurance companies for insurance covering the Leased Vehicles or Lessees, (C) all amounts received on the Leases for Dealer Recourse, (D) all proceeds realized on the sale or other disposition of the Leased Vehicles and (E) all net recoveries for charged-off Leases; (ii) collecting and paying state and local fees and taxes relating the Leases and Leased Vehicles; (iii) investigating delinquencies; (iv) sending invoices and notices and responding to inquiries from Lessees; (v) processing requests for Payment Extensions, Term Extensions and other modifications and adjustments; (vi) administering Lease terminations, payoffs, defaults and delinquencies; (vii) repossessing or otherwise converting the possession of Leased Vehicles under Leases that the Servicer determines are unlikely to be paid in full; (viii) selling, on behalf of the applicable Titling Company, repossessed Leased Vehicles at public or private sale and selling or otherwise disposing of Leased Vehicles returned on termination of the Leases or otherwise; (ix) refunding amounts to Lessees under the Leases; (x) collecting any remaining balance on the Leases after disposing of the Leased Vehicles; (xi) maintaining accurate and complete accounts and receivables systems for servicing the Leases; (xii) providing to the Custodian copies, or access to, any documents and correspondence in the Lease Files; and (xiii) providing Revolving Facility Pool Reports, Monthly Investor Reports and other reports required to be provided by the Servicer under this Agreement, any Servicing Supplement and any other Basic Document or Exchange Note Basic Document; The Servicer will comply with all material requirements of applicable law in performing its obligations as servicer of the Leases.