Common use of Master Servicer Expenses Clause in Contracts

Master Servicer Expenses. The Master Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder, including fees, expenses (including counsel fees and expenses) and disbursements of the independent accountants, taxes imposed on the Master Servicer, other than (i) out-of-pocket expenses incurred in connection with the enforcement of any Receivables Servicing Agreement, (b) out-of-pocket expenses incurred in connection with the termination of any Receivables Servicer and the assumption of servicing obligations with respect to the related Receivables, (c) out-of-pocket expenses incurred to correct servicing errors committed by a terminated Receivables Servicer, and (d) out-of-pocket expenses incurred on behalf of the Issuer, including the maintenance of licenses pursuant to Section 3.15 hereof and Section 3.6(b) of the Indenture.

Appears in 2 contracts

Samples: Sale and Servicing Agreement (Ml Asset Backed Corp), Sale and Servicing Agreement (Merrill Auto Trust Securitization 2005-1)

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Master Servicer Expenses. The Master Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder, including fees, expenses (including counsel fees and expenses) and disbursements of the independent accountants, taxes imposed on the Master Servicer, other than (ia) out-of-pocket expenses incurred in connection with the enforcement of any the Receivables Servicing Agreement, (b) out-of-pocket expenses incurred in connection with the termination of any the Receivables Servicer and the assumption of servicing obligations with respect to the related Receivables, (c) out-of-pocket expenses incurred to correct servicing errors committed by a terminated Receivables Servicer, and (d) out-of-pocket expenses incurred on behalf of the Issuer, including the maintenance of licenses pursuant to Section 3.15 3.18 hereof and the delivery of an opinion of Counsel pursuant to Section 3.6(b) of the Indenture.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Merrill Auto Trust Securitization 2008-1)

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Master Servicer Expenses. The Master Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder, including fees, expenses (including counsel fees and expenses) and disbursements of the independent accountants, taxes imposed on the Master Servicer, other than (i) out-of-pocket expenses incurred in connection with the enforcement of any the Receivables Servicing Agreement, (b) out-of-pocket expenses incurred in connection with the termination of any the Receivables Servicer and the assumption of servicing obligations with respect to the related Receivables, (c) out-of-pocket expenses incurred to correct servicing errors committed by a terminated Receivables Servicer, and (d) out-of-pocket expenses incurred on behalf of the Issuer, including the maintenance of licenses pursuant to Section 3.15 3.18 hereof and the delivery of an opinion of Counsel pursuant to Section 3.6(b) of the Indenture.

Appears in 1 contract

Samples: Sale and Servicing Agreement (Merrill Auto Trust Securitization 2007-1)

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