Common use of Master Servicer and Administrator Expenses Clause in Contracts

Master Servicer and Administrator Expenses. The Master Servicer and the Administrator shall be severally required to pay or cause to be paid all expenses incurred by it (or its agents acting on its behalf) in connection with its activities hereunder, including fees and disbursements of independent accountants, taxes imposed on the Master Servicer or the Administrator, as the case may be, and expenses incurred in connection with distributions and reports to the Administrator, the Depositor, the Eligible Lender Trustee, the Owner Trustee, or to the Holders of the related group of Notes, as the case may be; provided, however, that any amounts expended by the Master Servicer (or any Sub-Servicer on its behalf) in connection with Liquidation Proceeds or Recoveries shall be netted out of Liquidation Proceeds or Recoveries, as the case may be, and retained by the Master Servicer or the Sub-Servicer, as the case may be.

Master Servicer and Administrator Expenses. The Master Servicer and the Administrator shall be severally required to pay or cause to be paid all expenses incurred by it (or its agents acting on its behalf) in connection with its activities hereunder, including fees and disbursements of independent accountants, taxes imposed on the Master Servicer or the Administrator, as the case may be, and expenses incurred in connection with distributions and reports to the Administrator, the Depositor, the Eligible Lender Trustee, the Owner Trustee, or to the Holders of the related group of Notes, as the case may be; provided, however, that any amounts expended by the Master Servicer (or any Sub-Servicer Subservicer on its behalf) in connection with Liquidation Proceeds or Recoveries shall be netted out of Liquidation Proceeds or Recoveries, as the case may be, and retained by the Master Servicer or the Sub-ServicerSubservicer, as the case may be.