Common use of Liquidation Expenses Clause in Contracts

Liquidation Expenses. All reasonable out-of-pocket expenses (exclusive of -------------------- overhead expenses) which are incurred by the Servicer in connection with the liquidation of any defaulted Contract, on or prior to the date on which the related Manufactured Home, and, in the case of Land Home Contracts, Mortgaged Property, is liquidated, including legal fees and expenses, any unreimbursed amount expended by the Servicer pursuant to Sections 4.06, 4.07, 4.09 or 4.13 (to the extent such amount is reimbursable under the terms of Sections 4.06, 4.07, 4.09 or 4.13, as the case may be) with respect to such Contract, and any unreimbursed expenditures for property taxes or other taxes or charges or for property restoration or preservation that are related to such liquidation.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Greenpoint Financial Corp), Pooling and Servicing Agreement (Greenpoint Credit Corp), Pooling and Servicing Agreement (Greenpoint Credit LLC)

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Liquidation Expenses. All reasonable out-of-pocket expenses (exclusive of -------------------- overhead expenses) which are incurred by the Servicer in connection with the liquidation of any defaulted Contract, on or prior to the date on which the related Manufactured Home, and, in the case of Land Home Contracts, Mortgaged Property, is liquidated, including legal fees and expenses, any unreimbursed amount expended by the Servicer pursuant to Sections 4.06, 4.07, 4.09 or 4.13 (to the extent such amount is reimbursable under the terms of Sections 4.06, 4.07, 4.09 or 4.13, as the case may be) with respect to such Contract, and any unreimbursed expenditures for property taxes or other taxes or charges or for property restoration or preservation that are related to such liquidation.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bank of America FSB/Ca), Pooling and Servicing Agreement (Bank of America FSB/Ca)

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Liquidation Expenses. All reasonable out-of-pocket expenses (exclusive of -------------------- overhead expenses) which are incurred by the Servicer in connection with the liquidation of any defaulted Contract, on or prior to the date on which the related Manufactured Home, and, in the case of Land Home Contracts, Mortgaged Property, is liquidated, including legal fees and expenses, any unreimbursed amount expended by the Servicer pursuant to Sections 4.06, 4.07, 4.09 4.08 or 4.13 4.12 (to the extent such amount is reimbursable under the terms of Sections 4.06, 4.07, 4.09 4.08 or 4.134.12, as the case may be) with respect to such Contract, and any unreimbursed expenditures for property taxes or other taxes or charges or for property restoration or preservation that are related to such liquidation.

Appears in 1 contract

Samples: Contract Sale and Servicing Agreement (Greenpoint Credit LLC)

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