Interpool Container Funding Clause Samples

Interpool Container Funding. SRL, a society with restricted liability organized under the laws of Barbados, and its successors and permitted assigns. Borrower Expenses. With respect to any Collection Period, an amount equal to the overhead and other selling, general and administrative expenses of the Borrower (other than the amounts that are expressly excluded below) payable during such Collection Period (including costs and expenses permitted to be paid by the Servicer, on behalf of the Borrower, in connection with the conduct of the Borrower's business), in each case determined on a cash basis, including, but not limited to, all of the following, in each case to the extent incurred by, or on behalf of, the Borrower: (A) administration expenses of the Borrower including, without limitation, any fees and expenses payable by the Borrower with respect to the SRL Assets (as such term is defined in the Lockbox Agreement) in accordance with Section 5.1 of the Lockbox Agreement; (B) accounting and audit expenses of the Borrower, and tax preparation, filing and audit expenses of the Borrower; (C) premiums for liability, casualty, insurance for the Borrower and fidelity and directors and officers insurance for the officers and directors of the Borrower; (D) the fees and expenses of the directors of the Borrower, including fees and expenses of the Independent Person serving as a quotaholder of the Borrower; (E) legal fees and expenses of the Borrower; (F) other professional fees incurred by the Borrower; (G) taxes, if any, payable by the Borrower (including personal or other property taxes and all sales, value added, use and similar taxes but excluding any such amounts that are included as a Direct Operating Expense); and (H) taxes imposed on the Borrower in respect of any and all issuances of equity interests, stock exchange listing fees, registrar and transfer expenses and trustee's fees with respect to any outstanding securities of the Borrower. Notwithstanding the foregoing, Borrower Expenses shall not include (i) Direct Operating Expenses, (ii) any Servicing Fee, (iii) any Agent Fee, (iv) depreciation or amortization on the Containers and (v) payments of principal, interest and premium, if any, on or with respect to the Notes.