Common use of Maintenance of Security Interests in Equipment Clause in Contracts

Maintenance of Security Interests in Equipment. To the extent the Servicer's credit and collection policies and procedures in this regard would so require (it being acknowledged that, in certain instances, such credit and collection policies and procedures would not so require), the Servicer shall take such steps as are necessary to maintain perfection of any security interest created by each Lease in the related Equipment on behalf of the Issuer and the Contributor, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain such security interest granted by the Obligors under the respective Leases. The Issuer hereby authorizes the Servicer, and the Servicer agrees (to the extent the Servicer's credit and collection policies and procedures in this regard would so require), to take any and all steps necessary to re-perfect such security interest on behalf of the Issuer and the Contributor as necessary because of the relocation of Equipment or for any other reason.

Maintenance of Security Interests in Equipment. To the extent the Servicer's credit and collection policies and procedures in this regard would so require (it being acknowledged that, in certain instances, such credit and collection policies and procedures would not so require), the Servicer shall take such steps as are necessary to maintain perfection of any security interest created by each Lease Contract in the related Equipment on behalf of the Issuer and the ContributorDepositor, including, but not limited to, obtaining the execution by the Obligors and the recording, registering, filing, re-recording, re-filing, and re-registering of all security agreements, financing statements and continuation statements as are necessary to maintain such security interest granted by the Obligors under the respective LeasesContracts. The Issuer Owner Trustee hereby authorizes the Servicer, and the Servicer agrees (to the extent the Servicer's credit and collection policies and procedures in this regard would so require), to take any and all steps necessary to re-perfect such security interest on behalf of the Issuer and the Contributor Depositor as necessary because of the relocation of Equipment or for any other reason.