Master Servicer’s Monthly Fee. As compensation for the Master Servicer’s performance of its duties, the Lessor shall pay to or at the direction of the Master Servicer on each Payment Date (i) a fee (the “Monthly Servicing Fee”) equal to 0.50% per annum, payable at one-twelfth the annual rate, on the outstanding Net Book Value of the Lease Vehicles as of the last day of the Related Month with respect to such Payment Date and (ii) the reasonable costs and expenses of the Master Servicer incurred by it during the Related Month as a result of arranging for the sale of Lease Vehicles returned to the Lessor in accordance with Section 2.4(a); provided, however, that such costs and expenses shall only be payable to or at the direction of the Master Servicer to the extent of any excess of the sale price received by or on behalf of the Lessor for any such Lease Vehicle over the Net Book Value thereof.
Appears in 5 contracts
Samples: Second Amended and Restated Series 2013 B Supplement (Hertz Corp), Master Motor Vehicle Lease and Servicing Agreement (Hertz Corp), Master Motor Vehicle Lease and Servicing Agreement (Hertz Global Holdings Inc)
