Common use of Monthly Status Reports; Servicing Reports Clause in Contracts

Monthly Status Reports; Servicing Reports. (a) Within five Business Days following each Payment Date, the Servicer will send to the Issuer, the Trustee and the Insurer a written report, signed by one of the Servicer's financial officers, (i) identifying each Lease with respect to which any Lease Payment was 90 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Cut-Off Date), (ii) identifying each Lease with respect to which any Lease Payment was 60 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, and the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Date), (iii) identifying each Lease which became a Non-Performing Lease as of the preceding Determination Date and specifying the Discounted Present Value of such Lease as of such Determination Date (or, in the case of the first such report, subsequent to the Cut-Off Date) and the aggregate Discounted Present Value of all such Non- Performing Leases, and (iv) indicating the aggregate amount recovered by the Servicer subsequent to the preceding Payment Date (or, in the case of the first Payment Date, subsequent to the Cut-Off Date) and on or prior to such Payment Date with respect to Lease Delinquency Payments and Lease Payments in respect of Non-Performing Leases previously made by the Servicer (and the specific amounts so recovered with respect to any Non-Performing Lease) as of the related Determination Date. Each such report shall also describe generally what action or actions the Servicer is then taking or proposes to take to recover from the appropriate Lessees any amounts previously paid by the Servicer to the Trustee pursuant to Section 5.01 hereof. (b) On the Determination Date, the Servicer shall deliver to the Trustee, each Rating Agency and the Insurer a servicing report signed by an Authorized Officer of the Servicer (the "Servicing Report") duly completed and dated, in substantially the form of Exhibit B hereto. (c) The Servicing Report shall include, among other items, the total amount of all Lease Payments, Casualty Payments, Retainable Deposits, Termination Payments, Lease Purchase Amounts, recoveries related to Non- Performing Leases and other payments received by the Servicer and deposited in the Collection Account prior to the related Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date). Such report shall indicate the amount of all Lease Payments received by the Servicer and deposited in the Collection Account which are for any Due Period other than the Due Period for such Determination Date and shall identify each Lease with respect to which a Casualty Payment, Retainable Deposit, Termination Payment or Lease Purchase Amount was made during such time period. Such report shall also indicate (i) the aggregate amount paid by the Servicer on or subsequent to the most recent Determination Date pursuant to Section 5.01 hereof, and (ii) the aggregate amount reimbursed to the Servicer prior to the most recent Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date) for any Servicer Advances made by the Servicer pursuant to Section 5.01 hereof. Such report shall also include the amount of the distribution with respect to each class of Notes to be made on the related Payment Date, the amount of such distribution allocable to principal, the amount of such distribution allocable to interest, the Asset Pool balance as of the close of business on the last day of the related Due Period, the aggregate outstanding principal balance and the Pool Factor for each class of Notes after giving effect to all distributions allocable to principal on such Payment Date, the amounts paid to or retained by the Servicer, if any, with respect to the related Due Period, and the amount of the aggregate Purchase Amounts in respect of Leases that have been reacquired, if any, for such Due Period. The Servicer hereby represents and warrants that such calculations will be correct and accurate, and the Servicer shall be fully responsible for, and shall reimburse and indemnify each Indemnified Party for, any loss resulting from such Indemnified Party's reliance on any such calculations which are not correct. (d) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 135 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999, an Officers' Certificate stating that the Servicer has fulfilled its obligations under the Assignment and Servicing Agreement in all material respects throughout the preceding twelve (12) months (or, in the case of the first such certificate, the period from the Issuance Date) or if there has been any material default under the Assignment and Servicing Agreement or the Indenture, describing such default. (e) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 120 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999, a report (the "Supplementary Report") signed by an Authorized Officer on behalf of the Servicer and dated as of the last day of such fiscal year, stating that (a) a review of the activities of the Servicer and the Servicer's performance under the Assignment and Servicing Agreement and the Indenture for the previous 12-month period (or, in the case of the first such report, the period from the Issuance Date) has been made under such officer's supervision and (b) nothing has come to such officer's attention to indicate that a Servicer Event of Default has occurred, or, if any Servicer Event of Default has occurred and is continuing, specifying each such event known to the officer, the nature and status thereof and the steps necessary to remedy such event. (f) If any funds are to be withdrawn from the Collection Account other than as provided in Section 3.03(b) of the Indenture, the Servicer shall submit with the related Servicing Report the certificate required by Section 3.03(d) of the Indenture. (g) Within the prescribed period of time for tax reporting purposes after the end of each calendar year, the Servicer on behalf of the Issuer, will provide to the Noteholders a statement containing the distribution amount with respect to each class of Notes and the distribution amount allocable to interest for that calendar year and any other information required by applicable tax laws, for the purpose of the Noteholders' preparation of federal income tax returns. (h) The Servicer shall deliver to the Trustee and the Insurer and each of the Rating Agencies, within three days after obtaining knowledge of the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become an Event of Default under any of clauses (c), (d), (e) or (f) of Section 7.01 of the Indenture, its status and what action the Issuer or the Servicer is taking or proposes to take with respect thereto.

Monthly Status Reports; Servicing Reports. (a) Within five Business Days following each Payment Date, the Servicer will send to the Issuer, Trustee (copies of which the Trustee shall send to each Rating Agency and to each holder of the Insurer Notes as provided in the Indenture) a written report, signed by one of the Servicer's financial officers, (i) identifying each Lease with respect to which any Lease Payment was 90 30 or more days overdue as of the end of the immediately preceding Due Lease Payment Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Cut-Off Date), (ii) identifying each Lease with respect to which any Lease Payment was 60 or more days overdue as of the end of the immediately preceding Due Lease Payment Period, the Discounted Present Value of such Lease as of such Payment Date, and the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Date), (iii) identifying each Lease with respect to which any Lease Payment was 93 or more days overdue as of the end of the immediately preceding Lease Payment Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Date), (iv) identifying each Lease which became a Non-Performing Lease as of the preceding Determination Date and specifying the Discounted Present Value of such Lease as of such Determination Date (or, in the case of the first such report, subsequent to the Cut-Off Date) and the aggregate Discounted Present Value of all such Non- Non-Performing Leases, and (ivv) indicating the aggregate amount recovered by the Servicer subsequent to the preceding Payment Date (or, in the case of the first Payment Date, subsequent to the Cut-Off Date) and on or prior to such Payment Date with respect to Lease Delinquency Payments and Lease Payments in respect of Non-Performing Leases Lease Payments previously made by the Transferor and the Servicer (and the specific amounts so recovered with respect to any Non-Performing Lease) and (vi) indicating the Residual Realizations, as of the related Determination Date. Each such report shall also describe generally what action or actions the Servicer is then taking or proposes to take to recover from the appropriate Lessees any amounts previously paid by the Servicer to the Trustee pursuant to Section 5.01 4.01 hereof. (b) On the Determination second Business Day preceding the Payment Date, the Servicer shall deliver to the Trustee, Trustee and to each Rating Agency and the Insurer a servicing report two certificates signed by an Authorized Officer officer of the Servicer (a "Receivable Servicing Report" and a "Residual Servicing Report," collectively, the "Servicing Report") duly completed stating the date and dated, in substantially the form of Exhibit B C hereto. (c) The Servicing Report shall include, among other items, the total amount of all Lease Payments, Casualty Payments, Retainable Deposits, Termination Payments, Lease Purchase AmountsAmount, recoveries related to Non- Non-Performing Leases Leases, Residual Realizations, Similar Transaction Payments and other payments Other Lease Payments received by the Servicer and deposited in the Collection Account and Residual Account prior to the related such Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date). Such report shall indicate the amount of all Lease Payments received by the Servicer and deposited in the Collection Account or Residual Account, as applicable, which are for any Due Lease Payment Period other than the Due Lease Payment Period for such Determination Date and shall identify each Lease with respect to which a Casualty Payment, Retainable Deposit, Termination Payment or Lease Purchase Amount was made during such time period. Such report shall also indicate (i) the aggregate amount paid by the Servicer on or subsequent to the most recent Determination Date with respect to Non-Performing Leases pursuant to Section 5.01 4.01 hereof, and (ii) the aggregate amount reimbursed to the Servicer prior to the most recent Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date) for any Servicer Advances actual cash payments made by the Servicer with respect to Non-Performing Leases pursuant to Section 5.01 4.01 hereof. Such report shall also include the amount of the distribution with respect to each class of Notes to be made on the related Payment Date, the amount of such distribution allocable to principal, the amount of such distribution allocable to interest, the Asset Pool balance as of the close of business on the last day of the related Due Period, the aggregate outstanding principal balance and the Pool Factor for each class of Notes after giving effect to all distributions allocable to principal on such Payment Date, the amounts paid to or retained by the Servicer, if any, with respect to the related Due Period, and the amount of the aggregate Purchase Amounts in respect of Leases that have been reacquired, if any, for such Due Period. The Servicer hereby represents and warrants that such calculations will be correct and accurate, and the Servicer shall be fully responsible for, and shall reimburse and indemnify each Indemnified Party for, any loss resulting from such Indemnified Party's reliance on any such calculations which are not correct. (d) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 135 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999, an Officers' Certificate stating that If the Servicer has fulfilled its obligations under the Assignment and Servicing Agreement in all material respects throughout the preceding twelve (12) months (or, in the case of the first such certificate, the period from the Issuance Date) or if there has been any material default under the Assignment and Servicing Agreement or the Indenture, describing such default. (e) The Servicer shall deliver intends to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 120 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999, a report (the "Supplementary Report") signed by an Authorized Officer on behalf of the Servicer and dated as of the last day of such fiscal year, stating that (a) a review of the activities of the Servicer and the Servicer's performance under the Assignment and Servicing Agreement and the Indenture for the previous 12-month period (or, in the case of the first such report, the period from the Issuance Date) has been made under such officer's supervision and (b) nothing has come to such officer's attention to indicate that a Servicer Event of Default has occurred, or, if any Servicer Event of Default has occurred and is continuing, specifying each such event known to the officer, the nature and status thereof and the steps necessary to remedy such event. (f) If withdraw any funds are to be withdrawn from the Collection Account or Residual Account other than as provided in Section 3.03(b) of the Indentureon a Payment Date, the Servicer shall submit with such report a certificate (i) setting forth the related Servicing Report the certificate required by Section 3.03(d) of the Indenture. amounts to be withdrawn (g) Within the prescribed period of time for tax reporting purposes after the end of each calendar year, the Servicer on behalf of the Issuer, will provide to the Noteholders a statement containing the distribution amount with respect to each class of Notes and the distribution amount allocable to interest for that calendar year and any other information required by applicable tax laws, for the purpose of the Noteholders' preparation of federal income tax returns. (h) The Servicer shall deliver to the Trustee and the Insurer and each of the Rating Agencies, within three days after obtaining knowledge of the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become an Event of Default under any of clauses (citem-by-item basis), (d)ii) stating that none of such amounts are all or part of any Lease Payment, Lease Delinquency Payment, recoveries related to Non-Performing Leases, Lease Purchase Amount, Casualty Payment, Termination Payment or Residual Realizations, and (eiii) identifying the lease or (f) of Section 7.01 of the Indenture, its status and what action the Issuer or the Servicer is taking or proposes leases to take with respect theretowhich such amounts relate.

Monthly Status Reports; Servicing Reports. (a) Within five Business Days following each Payment Date, the Servicer will send to the Issuer, Trustee (copies of which the Trustee shall send to each Rating Agency and to each holder of the Insurer Notes as provided in the Indenture) a written report, signed by one of the Servicer's financial officers, (i) identifying each Lease with respect to which any Lease Payment was 90 30 or more days overdue as of the end of the immediately preceding Due Lease Payment Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Cut-Off Date), (ii) identifying each Lease with respect to which any Lease Payment was 60 or more days overdue as of the end of the immediately preceding Due Lease Payment Period, the Discounted Present Value of such Lease as of such Payment Date, and the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Closing Date), (iii) identifying each Lease with respect to which any Lease Payment was [93] or more days overdue as of the end of the immediately preceding Lease Payment Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Closing Date), (iv) identifying each Lease which became a Non-Performing Lease as of the preceding Determination Date and specifying the Discounted Present Value of such Lease as of such Determination Date (or, in the case of the first such report, subsequent to the Cut-Off Date) and the aggregate Discounted Present Value of all such Non- Non-Performing Leases, and (ivv) indicating the aggregate amount recovered by the Servicer subsequent to the preceding Payment Date (or, in the case of the first Payment Date, subsequent to the Cut-Off Date) and on or prior to such Payment Date with respect to Lease Delinquency Payments and Lease Payments in respect of Non-Performing Leases Lease Payments previously made by the Seller and the Servicer (and the specific amounts so recovered with respect to any Non-Performing Lease) and (vi) indicating the Residual Realizations, the Available Residual Amount and the Utilized Residual Amount as of the related Determination Date. Each such report shall also describe generally what action or actions the Servicer is then taking or proposes to take to recover from the appropriate Lessees any amounts previously paid by the Servicer to the Trustee pursuant to Section 5.01 4.01 hereof. (b) On the Business Day following the Determination Date, the Servicer shall deliver to the Trustee, each Rating Agency and the Insurer Trustee a servicing report certificate signed by an Authorized Officer officer of the Servicer (the a "Servicing Report") duly completed stating the date and dated, in substantially the form of Exhibit B C hereto. The Trustee shall forward such report to the Noteholders and the Rating Agencies within five days of the respective Payment Date. (c) The Servicing Report shall include, among other items, the total amount of all Lease Payments, Casualty Payments, Retainable Deposits, Termination Payments, Non-Performing Lease Purchase AmountsPayments, recoveries related to Non- Performing Leases Similar Transaction Payments and other payments Other Lease Payments received by the Servicer and deposited in the Collection Account prior to the related such Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date). Such report shall indicate the amount of all Lease Payments received by the Servicer and deposited in the Collection Account which are for any Due Lease Payment Period other than the Due Lease Payment Period for such Determination Date and shall identify each Lease with respect to which a Casualty Payment, Retainable Deposit, Termination Payment or Non-Performing Lease Purchase Amount Payment was made during such time period. Such report shall also indicate (i) the aggregate amount paid by the Servicer on or subsequent to the most recent Determination Date with respect to Non-Performing Leases pursuant to Section 5.01 4.01 hereof, and (ii) the aggregate amount reimbursed to the Servicer prior to the most recent Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date) for any Servicer Advances actual cash payments made by the Servicer with respect to Non-Performing Leases pursuant to Section 5.01 4.01 hereof. Such report shall also include the amount of the distribution with respect to each class of Notes to be made on the related Payment Date, the amount of such distribution allocable to principal, the amount of such distribution allocable to interest, the Asset Pool balance as of the close of business on the last day of the related Due Period, the aggregate outstanding principal balance and the Pool Factor for each class of Notes after giving effect to all distributions allocable to principal on such Payment Date, the amounts paid to or retained by the Servicer, if any, with respect to the related Due Period, and the amount of the aggregate Purchase Amounts in respect of Leases that have been reacquired, if any, for such Due Period. The Servicer hereby represents and warrants that such calculations will be correct and accurate, and the Servicer shall be fully responsible for, and shall reimburse and indemnify each Indemnified Party for, any loss resulting from such Indemnified Party's reliance on any such calculations which are not correct.] (d) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 135 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999, an Officers' Certificate stating that If the Servicer has fulfilled its obligations under the Assignment and Servicing Agreement in all material respects throughout the preceding twelve (12) months (or, in the case of the first such certificate, the period from the Issuance Date) or if there has been any material default under the Assignment and Servicing Agreement or the Indenture, describing such default. (e) The Servicer shall deliver intends to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 120 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999, a report (the "Supplementary Report") signed by an Authorized Officer on behalf of the Servicer and dated as of the last day of such fiscal year, stating that (a) a review of the activities of the Servicer and the Servicer's performance under the Assignment and Servicing Agreement and the Indenture for the previous 12-month period (or, in the case of the first such report, the period from the Issuance Date) has been made under such officer's supervision and (b) nothing has come to such officer's attention to indicate that a Servicer Event of Default has occurred, or, if any Servicer Event of Default has occurred and is continuing, specifying each such event known to the officer, the nature and status thereof and the steps necessary to remedy such event. (f) If withdraw any funds are to be withdrawn from the Collection Account other than as provided in accordance with Section 3.03(b3.02(b) of the IndentureIndenture after the Payment Date relating to the Determination Date for which a Servicing Report is submitted, the Servicer shall submit with such report a certificate (i) setting forth the related Servicing Report the certificate required by Section 3.03(d) of the Indenture. amounts to be withdrawn (g) Within the prescribed period of time for tax reporting purposes after the end of each calendar year, the Servicer on behalf of the Issuer, will provide to the Noteholders a statement containing the distribution amount with respect to each class of Notes and the distribution amount allocable to interest for that calendar year and any other information required by applicable tax laws, for the purpose of the Noteholders' preparation of federal income tax returns. (h) The Servicer shall deliver to the Trustee and the Insurer and each of the Rating Agencies, within three days after obtaining knowledge of the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become an Event of Default under any of clauses (citem-by-item basis), (d)ii) stating that none of such amounts are all or part of any Lease Payment, Lease Delinquency Payment, Non-Performing Lease Payment, Casualty Payment or Termination Payment, and (eiii) identifying the lease or (f) of Section 7.01 of the Indenture, its status and what action the Issuer or the Servicer is taking or proposes leases to take with respect theretowhich such amounts relate.

Monthly Status Reports; Servicing Reports. (a) Within five Business Days following each Payment Date, the Servicer will send to Indenture Trustee (copies of which Indenture Trustee shall send to each Rating Agency and to each Noteholder and Certificateholder as provided in Section 3.4 of the Issuer, the Trustee and the Insurer Indenture a written report, signed by one of the Servicer's financial officers, (i) identifying each Lease with respect to which any Lease Payment was 90 30 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof 4.1 since the Servicer's previous monthly report (or, in the case of the first such report, since the Cut-Off Date), (ii) identifying each Lease with respect to which any Lease Payment was 60 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, and the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof 4.1 since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Cut-Off Date), (iii) identifying each Lease with respect to which any Lease Payment was 90 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by Servicer with respect to such Lease pursuant to Section 4.1 since Servicer's previous monthly report (or, in the case of the first such report, since the Cut-Off Date), (iv) identifying each Lease which became a Non-Performing Lease as of the preceding Determination Date and specifying the Discounted Present Value of such Lease as of such Determination Date (or, in the case of the first such report, subsequent to the Cut-Off Date) and the aggregate Discounted Present Value of all such Non- Non-Performing Leases, and (ivv) indicating the aggregate amount recovered by the Servicer subsequent to the preceding Payment Date (or, in the case of the first Payment Date, subsequent to the Cut-Off Date) and on or prior to such Payment Date with respect to Lease Delinquency Payments made on Leases referred to in clauses (i) and Lease Payments in respect of (ii) and Non-Performing Leases Lease Payments previously made by the Transferor and Servicer (and the specific amounts so recovered with respect to any Non-Performing Lease) and (vi) indicating the Residual Realizations, the Available Residual Amount and the Utilized Residual Amount as of the related Determination Date. Each such report shall also describe generally what action or actions the Servicer is then taking or proposes to take to recover from the appropriate Lessees any amounts previously paid by the Servicer to the Indenture Trustee pursuant to Section 5.01 hereof4.1. (b) On the Business Day following the Determination Date, the Servicer shall deliver to the Trustee, each Rating Agency and the Insurer Indenture Trustee a servicing report certificate signed by an Authorized Officer officer of the Servicer (the a "Servicing Report") duly completed stating the date and dated, in substantially the form of Exhibit B hereto.C. (c) The Servicing Report shall include, among other items, the total amount of all Lease Payments, Casualty Payments, Retainable Deposits, Termination Payments, Non-Performing Lease Purchase Amounts, recoveries related to Non- Performing Leases Payments and other payments Other Lease Payments received by the Servicer and deposited in the Collection Account prior to the related such Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date). Such report shall indicate the amount of all Lease Payments received by the Servicer and deposited in the Collection Account which are for any Due Period other than the Due Period for such Determination Date and shall identify each Lease with respect to which a Casualty Payment, Retainable Deposit, Termination Payment or Non-Performing Lease Purchase Amount Payment was made during such time period. Such report shall also indicate (i) the aggregate amount paid by the Servicer on or subsequent to the most recent Determination Date with respect to Non-Performing Leases pursuant to Section 5.01 hereof4.1, and (ii) the aggregate amount reimbursed to the Servicer prior to the most recent Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date) for any Servicer Advances actual cash payments made by the Servicer with respect to Non-Performing Leases pursuant to Section 5.01 hereof4.1. Such report shall also include the amount of the distribution with respect to each class of Notes to be made on the related Payment Date, the amount of such distribution allocable to principal, the amount of such distribution allocable to interest, the Asset Pool balance as of the close of business on the last day of the related Due Period, the aggregate outstanding principal balance and the Pool Factor for each class of Notes after giving effect to all distributions allocable to principal on such Payment Date, the amounts paid to or retained by the Servicer, if any, with respect to the related Due Period, and the amount of the aggregate Purchase Amounts in respect of Leases that have been reacquired, if any, for such Due Period. The Servicer hereby represents and warrants that such calculations will be correct and accurate, and the Servicer shall be fully responsible for, and shall reimburse and indemnify each Indemnified Party for, any loss resulting from such Indemnified Party's reliance on any such calculations which are not correct. (d) The If Servicer shall deliver intends to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 135 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999, an Officers' Certificate stating that the Servicer has fulfilled its obligations under the Assignment and Servicing Agreement in all material respects throughout the preceding twelve (12) months (or, in the case of the first such certificate, the period from the Issuance Date) or if there has been any material default under the Assignment and Servicing Agreement or the Indenture, describing such default. (e) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 120 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999, a report (the "Supplementary Report") signed by an Authorized Officer on behalf of the Servicer and dated as of the last day of such fiscal year, stating that (a) a review of the activities of the Servicer and the Servicer's performance under the Assignment and Servicing Agreement and the Indenture for the previous 12-month period (or, in the case of the first such report, the period from the Issuance Date) has been made under such officer's supervision and (b) nothing has come to such officer's attention to indicate that a Servicer Event of Default has occurred, or, if any Servicer Event of Default has occurred and is continuing, specifying each such event known to the officer, the nature and status thereof and the steps necessary to remedy such event. (f) If withdraw any funds are to be withdrawn from the Collection Account other than as provided in accordance with Section 3.03(b6.2(b) of this Agreement after the IndenturePayment Date relating to the Determination Date for which a Servicing Report is submitted, the Servicer shall submit with such report a certificate (i) setting forth the related Servicing Report the certificate required by Section 3.03(d) of the Indenture. amounts to be withdrawn (g) Within the prescribed period of time for tax reporting purposes after the end of each calendar year, the Servicer on behalf of the Issuer, will provide to the Noteholders a statement containing the distribution amount with respect to each class of Notes and the distribution amount allocable to interest for that calendar year and any other information required by applicable tax laws, for the purpose of the Noteholders' preparation of federal income tax returns. (h) The Servicer shall deliver to the Trustee and the Insurer and each of the Rating Agencies, within three days after obtaining knowledge of the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become an Event of Default under any of clauses (citem-by-item basis), (d)ii) stating that none of such amounts are all or part of any Lease Payment, Non-Performing Lease Payment, Casualty Payment or Termination Payment, and (eiii) identifying the lease or (f) of Section 7.01 of the Indenture, its status and what action the Issuer or the Servicer is taking or proposes leases to take with respect theretowhich such amounts relate.

Monthly Status Reports; Servicing Reports. (a) Within five Business Days following each Payment Date, the Servicer will send to the Issuer, the Trustee and the Insurer a written report, signed by one of the Servicer's financial officers, (i) identifying each Lease with respect to which any Lease Payment was 90 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Cut-Off Date), (ii) identifying each Lease with respect to which any Lease Payment was 60 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, and the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Date), (iii) identifying each Lease which became a Non-Performing Lease as of the preceding Determination Date and specifying the Discounted Present Value of such Lease as of such Determination Date (or, in the case of the first such report, subsequent to the Cut-Off Date) and the aggregate Discounted Present Value of all such Non- Performing Leases, and (iv) indicating the aggregate amount recovered by the Servicer subsequent to the preceding Payment Date (or, in the case of the first Payment Date, subsequent to the Cut-Off Date) and on or prior to such Payment Date with respect to Lease Delinquency Payments and Lease Payments in respect of Non-Performing Leases previously made by the Servicer (and the specific amounts so recovered with respect to any Non-Performing Lease) as of the related Determination Date. Each such report shall also describe generally what action or actions the Servicer is then taking or proposes to take to recover from the appropriate Lessees any amounts previously paid by the Servicer to the Trustee pursuant to Section 5.01 hereof. (b) On the Determination Date, the Servicer shall deliver to the Trustee, each Rating Agency Agency, the Counterparty and the Insurer a servicing report signed by an Authorized Officer of the Servicer (the "Servicing Report") duly completed and dated, in substantially the form of Exhibit B hereto. (c) The Servicing Report shall include, among other items, the total amount of all Lease Payments, Casualty Payments, Retainable Deposits, Termination Payments, Lease Purchase Amounts, recoveries related to Non- Performing Leases and other payments received by the Servicer and deposited in the Collection Account prior to the related Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date). Such report shall indicate the amount of all Lease Payments received by the Servicer and deposited in the Collection Account which are for any Due Period other than the Due Period for such Determination Date and shall identify each Lease with respect to which a Casualty Payment, Retainable Deposit, Termination Payment or Lease Purchase Amount was made during such time period. Such report shall also indicate (i) the aggregate amount paid by the Servicer on or subsequent to the most recent Determination Date pursuant to Section 5.01 hereof, and (ii) the aggregate amount reimbursed to the Servicer prior to the most recent Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date) for any Servicer Advances made by the Servicer pursuant to Section 5.01 hereof. Such report shall also include the amount of the distribution with respect to each class of Notes to be made on the related Payment Date, the amount of such distribution allocable to principal, the amount of such distribution allocable to interest, the Asset Pool balance as of the close of business on the last day of the related Due Period, the aggregate outstanding principal balance and the Pool Factor for each class of Notes after giving effect to all distributions allocable to principal on such Payment Date, the amounts paid to or retained by the Servicer, if any, with respect to the related Due Period, and the amount of the aggregate Purchase Amounts in respect of Leases that have been reacquired, if any, for such Due Period. The Servicer hereby represents and warrants that such calculations will be correct and accurate, and the Servicer shall be fully responsible for, and shall reimburse and indemnify each Indemnified Party for, any loss resulting from such Indemnified Party's reliance on any such calculations which are not correct. (d) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 135 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 19992000, an Officers' Certificate stating that the Servicer has fulfilled its obligations under the Assignment and Servicing Agreement in all material respects throughout the preceding twelve (12) months (or, in the case of the first such certificate, the period from the Issuance Date) or if there has been any material default under the Assignment and Servicing Agreement or the Indenture, describing such default. (e) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 120 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 19992000, a report (the "Supplementary Report") signed by an Authorized Officer on behalf of the Servicer and dated as of the last day of such fiscal year, stating that (a) a review of the activities of the Servicer and the Servicer's performance under the Assignment and Servicing Agreement and the Indenture for the previous 12-month period (or, in the case of the first such report, the period from the Issuance Date) has been made under such officer's supervision and (b) nothing has come to such officer's attention to indicate that a Servicer Event of Default has occurred, or, if any Servicer Event of Default has occurred and is continuing, specifying each such event known to the officer, the nature and status thereof and the steps necessary to remedy such event. (f) If any funds are to be withdrawn from the Collection Account other than as provided in Section 3.03(b) of the Indenture, the Servicer shall submit with the related Servicing Report the certificate required by Section 3.03(d) of the Indenture. (g) Within the prescribed period of time for tax reporting purposes after the end of each calendar year, the Servicer on behalf of the Issuer, will provide to the Noteholders a statement containing the distribution amount with respect to each class of Notes and the distribution amount allocable to interest for that calendar year and any other information required by applicable tax laws, for the purpose of the Noteholders' preparation of federal income tax returns. (h) The Servicer shall deliver to the Trustee and the Insurer and each of the Rating Agencies, within three days after obtaining knowledge of the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become an Event of Default under any of clauses (c), (d), (e) or (f) of Section 7.01 of the Indenture, its status and what action the Issuer or the Servicer is taking or proposes to take with respect thereto.

Monthly Status Reports; Servicing Reports. (a) Within five Business Days following each Payment Date, the Servicer will send to the Issuer, Trustee (copies of which the Trustee shall send to each Rating Agency and to each holder of the Insurer Notes as provided in the Indenture) a written report, signed by one of the Servicer's financial officers, (i) identifying each Lease with respect to which any Lease Payment was 90 30 or more days overdue as of the end of the immediately preceding Due Lease Payment Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Cut-Off Date), (ii) identifying each Lease with respect to which any Lease Payment was 60 or more days overdue as of the end of the immediately preceding Due Lease Payment Period, the Discounted Present Value of such Lease as of such Payment Date, and the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Date), (iii) identifying each Lease with respect to which any Lease Payment was [93] or more days overdue as of the end of the immediately preceding Lease Payment Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Date), (iv) identifying each Lease which became a Non-Performing Defaulted Lease as of the preceding Determination Date and specifying the Discounted Present Value of such Lease as of such Determination Date (or, in the case of the first such report, subsequent to the Cut-Off CutOff Date) and the aggregate Discounted Present Value of all such Non- Performing Defaulted Leases, and (ivv) indicating the aggregate amount recovered by the Servicer subsequent to the preceding Payment Date (or, in the case of the first Payment Date, subsequent to the Cut-Off Date) and on or prior to such Payment Date with respect to Lease Delinquency Payments and Defaulted Lease Payments in respect of Non-Performing Leases previously made by the Seller and the Servicer (and the specific amounts so recovered with respect to any Non-Performing Defaulted Lease) as of the related Determination Date]. Each such report shall also describe generally what action or actions the Servicer is then taking or proposes to take to recover from the appropriate Lessees any amounts previously paid by the Servicer to the Trustee pursuant to Section 5.01 hereof. (b) On the Determination second Business Day preceding the Payment Date, the Servicer shall deliver to the Trustee, Trustee and to each Rating Agency and the Insurer a servicing report certificate signed by an Authorized Officer officer of the Servicer (the a "Servicing Report") duly completed stating the date and dated, in substantially the form of Exhibit B C hereto. (c) The Servicing Report shall include, among other items, the total amount of all Lease Payments, Casualty Payments, Retainable Deposits, Termination Payments, Lease Purchase AmountsAmount, recoveries related to Non- Performing Leases Defaulted Leases, Similar Transaction Payments and other payments Other Lease Payments received by the Servicer and deposited in the Collection Account prior to the related such Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date). Such report shall indicate the amount of all Lease Payments received by the Servicer and deposited in the Collection Account which are for any Due Lease Payment Period other than the Due Lease Payment Period for such Determination Date and shall identify each Lease with respect to which a Casualty Payment, Retainable Deposit, Termination Payment or Lease Purchase Amount was made during such time period. Such report shall also indicate (i) the aggregate amount paid by the Servicer on or subsequent to the most recent Determination Date with respect to Defaulted Leases pursuant to Section 5.01 hereof, and (ii) the aggregate amount reimbursed to the Servicer prior to the most recent Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date) for any Servicer Advances actual cash payments made by the Servicer with respect to Defaulted Leases pursuant to Section 5.01 hereof. Such report shall also include the amount of the distribution with respect to each class of Notes to be made on the related Payment DateNotes, the amount of such distribution allocable to principal, the amount of such distribution allocable to interest, the Asset Pool balance balance, if applicable, as of the close of business on the last day of the related Due Remittance Period, the aggregate outstanding principal balance and the Pool Factor for each class of Notes after giving effect to all distributions allocable to principal on such Payment Date, the amounts amount paid to or retained by the Servicer, if any, with respect to the related Due Remittance Period, and the amount of the aggregate Purchase Amounts in respect of purchase amounts for Leases that have been reacquired, if any, for such Due Remittance Period. The Servicer hereby represents and warrants that such calculations will be correct and accurate, and the Servicer shall be fully responsible for, and shall reimburse and indemnify each Indemnified Party for, any loss resulting from such Indemnified Party's reliance on any such calculations which are not correct. (d) The Servicer shall deliver to the Issuer and and/or the Trustee, with a copy to each Rating Agency and the Insurer, Trustee within 135 [135] days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 19991998, an Officers' Certificate stating that the Servicer has fulfilled its obligations under the Assignment and Servicing Agreement in all material respects throughout the preceding twelve (12) months (or, in the case of the first such certificate, the period from the applicable Issuance Date) or if there has been any material default under the Assignment and Servicing Agreement or the IndentureAgreement, describing such default. (e) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, Trustee within 120 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 19991998, a report (the "Supplementary Report") signed by an Authorized Officer authorized officer on behalf of the Servicer and dated as of the last day of such fiscal year, stating that (a) a review of the activities of the Servicer and the Servicer's performance under the Assignment and Servicing Agreement and the Indenture for the previous 12-month period (or, in the case of the first such report, the period from the Issuance Date) has been made under such officer's supervision and (b) nothing has come to such officer's attention to indicate that a Servicer an Event of Default Servicing Termination has occurred, or, if any Servicer such Event of Default Servicing Termination has so occurred and is continuing, specifying each such event known to the officer, the nature and status thereof and the steps necessary to remedy such event. (f) If the Servicer intends to withdraw any funds are to be withdrawn from the Collection Account other than as provided in Section 3.03(b) of the Indentureon a Payment Date, the Servicer shall submit with such report a certificate (i) setting forth the amounts to be withdrawn (on an item-by-item basis), (ii) stating that none of such amounts are all or part of any Lease Payment, Lease Delinquency Payment, recoveries related Servicing Report to Defaulted Leases, Lease Purchase Amount, Casualty Payment or Termination Payment and (iii) identifying the certificate required by Section 3.03(d) of the Indenturelease or leases to which such amounts relate. (g) Within the prescribed period of time for tax reporting purposes after the end of each calendar year, the Issuer, or the Servicer on behalf of the Issuer, will provide to the Noteholders a statement containing the distribution amount with respect to each class of Notes and the distribution amount allocable to interest for that calendar year and any other information required by applicable tax laws, for the purpose of the Noteholders' preparation of federal income tax returns. (h) The Servicer shall deliver to the Trustee and the Insurer and each of the Rating Agencies, within three days after obtaining knowledge of the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become an Event of Default under any of clauses (c), (d), (e) or (f) of Section 7.01 of the Indenture, its status and what action the Issuer or the Servicer is taking or proposes to take with respect thereto.

Monthly Status Reports; Servicing Reports. (a) Within five Business Days following each Payment Date, the Servicer will send to the Issuer, the Trustee and the Insurer a written report, signed by one of the Servicer's financial officers, (i) identifying each Lease with respect to which any Lease Payment was 90 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Cut-Off Date), (ii) identifying each Lease with respect to which any Lease Payment was 60 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, and the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Date), (iii) identifying each Lease which became a Non-Performing Lease as of the preceding Determination Date and specifying the Discounted Present Value of such Lease as of such Determination Date (or, in the case of the first such report, subsequent to the Cut-Off Date) and the aggregate Discounted Present Value of all such Non- Non-Performing Leases, and (iv) indicating the aggregate amount recovered by the Servicer subsequent to the preceding Payment Date (or, in the case of the first Payment Date, subsequent to the Cut-Off Date) and on or prior to such Payment Date with respect to Lease Delinquency Payments and Lease Payments in respect of Non-Performing Leases previously made by the Servicer (and the specific amounts so recovered with respect to any Non-Performing Lease) as of the related Determination Date. Each such report shall also describe generally what action or actions the Servicer is then taking or proposes to take to recover from the appropriate Lessees any amounts previously paid by the Servicer to the Trustee pursuant to Section 5.01 hereof. (b) On the Determination Date, the Servicer shall deliver to the Trustee, each Rating Agency and the Insurer a servicing report signed by an Authorized Officer of the Servicer (the "Servicing Report") duly completed and dated, in substantially the form of Exhibit B hereto. (c) The Servicing Report shall include, among other items, the total amount of all Lease Payments, Casualty Payments, Retainable Deposits, Termination Payments, Lease Purchase Amounts, recoveries related to Non- Non-Performing Leases and other payments received by the Servicer and deposited in the Collection Account prior to the related Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date). Such report shall indicate the amount of all Lease Payments received by the Servicer and deposited in the Collection Account which are for any Due Period other than the Due Period for such Determination Date and shall identify each Lease with respect to which a Casualty Payment, Retainable Deposit, Termination Payment or Lease Purchase Amount was made during such time period. Such report shall also indicate (i) the aggregate amount paid by the Servicer on or subsequent to the most recent Determination Date pursuant to Section 5.01 hereof, and (ii) the aggregate amount reimbursed to the Servicer prior to the most recent Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date) for any Servicer Advances made by the Servicer pursuant to Section 5.01 hereof. Such report shall also include the amount of the distribution with respect to each class of Notes to be made on the related Payment Date, the amount of such distribution allocable to principal, the amount of such distribution allocable to interest, the Asset Pool balance as of the close of business on the last day of the related Due Period, the aggregate outstanding principal balance and the Pool Factor for each class of Notes after giving effect to all distributions allocable to principal on such Payment Date, the amounts paid to or retained by the Servicer, if any, with respect to the related Due Period, and the amount of the aggregate Purchase Amounts in respect of Leases that have been reacquired, if any, for such Due Period. The Servicer hereby represents and warrants that such calculations will be correct and accurate, and the Servicer shall be fully responsible for, and shall reimburse and indemnify each Indemnified Party for, any loss resulting from such Indemnified Party's reliance on any such calculations which are not correct. (d) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 135 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 19992000, an Officers' Certificate stating that the Servicer has fulfilled its obligations under the Assignment and Servicing Agreement in all material respects throughout the preceding twelve (12) months (or, in the case of the first such certificate, the period from the Issuance Date) or if there has been any material default under the Assignment and Servicing Agreement or the Indenture, describing such default. (e) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 120 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 19992000, a report (the "Supplementary Report") signed by an Authorized Officer on behalf of the Servicer and dated as of the last day of such fiscal year, stating that (a) a review of the activities of the Servicer and the Servicer's performance under the Assignment and Servicing Agreement and the Indenture for the previous 12-month period (or, in the case of the first such report, the period from the Issuance Date) has been made under such officer's supervision and (b) nothing has come to such officer's attention to indicate that a Servicer Event of Default has occurred, or, if any Servicer Event of Default has occurred and is continuing, specifying each such event known to the officer, the nature and status thereof and the steps necessary to remedy such event. (f) If any funds are to be withdrawn from the Collection Account other than as provided in Section 3.03(b) of the Indenture, the Servicer shall submit with the related Servicing Report the certificate required by Section 3.03(d) of the Indenture. (g) Within the prescribed period of time for tax reporting purposes after the end of each calendar year, the Servicer on behalf of the Issuer, will provide to the Noteholders a statement containing the distribution amount with respect to each class of Notes and the distribution amount allocable to interest for that calendar year and any other information required by applicable tax laws, for the purpose of the Noteholders' preparation of federal income tax returns. (h) The Servicer shall deliver to the Trustee and the Insurer and each of the Rating Agencies, within three days after obtaining knowledge of the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become an Event of Default under any of clauses (c), (d), (e) or (f) of Section 7.01 of the Indenture, its status and what action the Issuer or the Servicer is taking or proposes to take with respect thereto.

Monthly Status Reports; Servicing Reports. (a) Within five Business Days following each Payment Date, the Servicer will send to the Issuer, Trustee (copies of which the Trustee shall send to each Rating Agency and to each holder of the Insurer Notes as provided in the Indenture) a written report, signed by one of the Servicer's financial officers, (i) identifying each Lease with respect to which any Lease Payment was 90 30 or more days overdue as of the end of the immediately preceding Due Lease Payment Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Cut-Off Date), (ii) identifying each Lease with respect to which any Lease Payment was 60 or more days overdue as of the end of the immediately preceding Due Lease Payment Period, the Discounted Present Value of such Lease as of such Payment Date, and the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Date), (iii) identifying each Lease with respect to which any Lease Payment was 93 or more days overdue as of the end of the immediately preceding Lease Payment Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Date), (iv) identifying each Lease which became a Non-Performing Lease as of the preceding Determination Date and specifying the Discounted Present Value of such Lease as of such Determination Date (or, in the case of the first such report, subsequent to the Cut-Off Date) and the aggregate Discounted Present Value of all such Non- Non-Performing Leases, and (ivv) indicating the aggregate amount recovered by the Servicer subsequent to the preceding Payment Date (or, in the case of the first Payment Date, subsequent to the Cut-Off Date) and on or prior to such Payment Date with respect to Lease Delinquency Payments and Lease Payments in respect of Non-Performing Leases Lease Payments previously made by the Transferor and the Servicer (and the specific amounts so recovered with respect to any Non-Performing Lease) and (vi) indicating the Residual Realizations, as of the related Determination Date. Each such report shall also describe generally what action or actions the Servicer is then taking or proposes to take to recover from the appropriate Lessees any amounts previously paid by the Servicer to the Trustee pursuant to Section 5.01 4.01 hereof. (b) On the Determination second Business Day preceding each Payment Date, the Servicer shall deliver to the Trustee, Trustee and to each Rating Agency and the Insurer a servicing report two certificates signed by an Authorized Officer officer of the Servicer (a "Receivable Servicing Report" and a "Residual Servicing Report," collectively, the "Servicing Report") duly completed stating the date and dated, in substantially the form of Exhibit B C hereto. (c) The Servicing Report shall include, among other items, the total amount of all Lease Payments, Casualty Payments, Retainable Deposits, Termination Payments, Lease Purchase AmountsAmount, recoveries related to Non- Non-Performing Leases Leases, Residual Realizations, Similar Transaction Payments and other payments Other Lease Payments received by the Servicer and deposited in the Collection Account and Residual Account prior to the related such Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date). Such report shall indicate the amount of all Lease Payments received by the Servicer and deposited in the Collection Account or Residual Account, as applicable, which are for any Due Lease Payment Period other than the Due Lease Payment Period for such Determination Date and shall identify each Lease with respect to which a Casualty Payment, Retainable Deposit, Termination Payment or Lease Purchase Amount was made during such time period. Such report shall also indicate (i) the aggregate amount paid by the Servicer on or subsequent to the most recent Determination Date with respect to Non-Performing Leases pursuant to Section 5.01 Section 4.01 hereof, and (ii) the aggregate amount reimbursed to the Servicer prior to the most recent Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date) for any Servicer Advances actual cash payments made by the Servicer with respect to Non-Performing Leases pursuant to Section 5.01 4.01 hereof. Such report shall also include the amount of the distribution with respect to each class of Notes to be made on the related Payment Date, the amount of such distribution allocable to principal, the amount of such distribution allocable to interest, the Asset Pool balance as of the close of business on the last day of the related Due Period, the aggregate outstanding principal balance and the Pool Factor for each class of Notes after giving effect to all distributions allocable to principal on such Payment Date, the amounts paid to or retained by the Servicer, if any, with respect to the related Due Period, and the amount of the aggregate Purchase Amounts in respect of Leases that have been reacquired, if any, for such Due Period. The Servicer hereby represents and warrants that such calculations will be correct and accurate, and the Servicer shall be fully responsible for, and shall reimburse and indemnify each Indemnified Party for, any loss resulting from such Indemnified Party's reliance on any such calculations which are not correct. (d) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 135 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999, an Officers' Certificate stating that If the Servicer has fulfilled its obligations under the Assignment and Servicing Agreement in all material respects throughout the preceding twelve (12) months (or, in the case of the first such certificate, the period from the Issuance Date) or if there has been any material default under the Assignment and Servicing Agreement or the Indenture, describing such default. (e) The Servicer shall deliver intends to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 120 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999, a report (the "Supplementary Report") signed by an Authorized Officer on behalf of the Servicer and dated as of the last day of such fiscal year, stating that (a) a review of the activities of the Servicer and the Servicer's performance under the Assignment and Servicing Agreement and the Indenture for the previous 12-month period (or, in the case of the first such report, the period from the Issuance Date) has been made under such officer's supervision and (b) nothing has come to such officer's attention to indicate that a Servicer Event of Default has occurred, or, if any Servicer Event of Default has occurred and is continuing, specifying each such event known to the officer, the nature and status thereof and the steps necessary to remedy such event. (f) If withdraw any funds are to be withdrawn from the Collection Account or Residual Account other than as provided in Section 3.03(b) of the Indentureon a Payment Date, the Servicer shall submit with such report a certificate (i) setting forth the related Servicing Report the certificate required by Section 3.03(d) of the Indenture. amounts to be withdrawn (g) Within the prescribed period of time for tax reporting purposes after the end of each calendar year, the Servicer on behalf of the Issuer, will provide to the Noteholders a statement containing the distribution amount with respect to each class of Notes and the distribution amount allocable to interest for that calendar year and any other information required by applicable tax laws, for the purpose of the Noteholders' preparation of federal income tax returns. (h) The Servicer shall deliver to the Trustee and the Insurer and each of the Rating Agencies, within three days after obtaining knowledge of the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become an Event of Default under any of clauses (citem-by-item basis), (d)ii) stating that none of such amounts are all or part of any Lease Payment, Lease Delinquency Payment, recoveries related to Non-Performing Leases, Lease Purchase Amount, Casualty Payment, Termination Payment or Residual Realizations, and (eiii) identifying the lease or (f) of Section 7.01 of the Indenture, its status and what action the Issuer or the Servicer is taking or proposes leases to take with respect theretowhich such amounts relate.

Monthly Status Reports; Servicing Reports. (a) Within five Business Days following each Payment Date, the Servicer will send to the Issuer, the Trustee and the Insurer a written report, signed by one either the Treasurer or the Chief Financial Officer of IKON Office Solutions, Inc. and either the President, the Vice President of Finance or Controller of the Servicer's financial officers, Servicer (i) identifying each Lease with respect to which any Lease Payment was 90 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Cut-Off Date), (ii) identifying each Lease with respect to which any Lease Payment was 60 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, and the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Date), (iii) identifying each Lease which became a Non-Performing Lease as of the preceding Determination Date and specifying the Discounted Present Value of such Lease as of such Determination Date (or, in the case of the first such report, subsequent to the Cut-Off Date) and the aggregate Discounted Present Value of all such Non- Non-Performing Leases, and (iv) indicating the aggregate amount recovered by the Servicer subsequent to the preceding Payment Date (or, in the case of the first Payment Date, subsequent to the Cut-Off Date) and on or prior to such Payment Date with respect to Lease Delinquency Payments and Lease Payments in respect of Non-Performing Leases previously made by the Servicer (and the specific amounts so recovered with respect to any Non-Performing Lease) as of the related Determination Date. Each such report shall also describe generally what action or actions the Servicer is then taking or proposes to take to recover from the appropriate Lessees any amounts previously paid by the Servicer to the Trustee pursuant to Section 5.01 hereof. (b) On the Determination Date, the Servicer shall deliver to the Trustee, each Rating Agency Agency, the Counterparty and the Insurer a servicing report signed by an Authorized either the Treasurer or the Chief Financial Officer of IKON Office Solutions, Inc and either the President, the Vice President of Finance or Controller of the Servicer (the "Servicing Report") duly completed and dated, in substantially the form of Exhibit B hereto. (c) The Servicing Report shall include, among other items, the total amount of all Lease Payments, Casualty Payments, Retainable Deposits, Termination Payments, Lease Purchase Amounts, recoveries related to Non- Non-Performing Leases and other payments received by the Servicer and deposited in the Collection Account prior to the related Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date). Such report shall indicate the amount of all Lease Payments received by the Servicer and deposited in the Collection Account which are for any Due Period other than the Due Period for such Determination Date and shall identify each Lease with respect to which a Casualty Payment, Retainable Deposit, Termination Payment or Lease Purchase Amount was made during such time period. Such report shall also indicate (i) the aggregate amount paid by the Servicer on or subsequent to the most recent Determination Date pursuant to Section 5.01 hereof, and (ii) the aggregate amount reimbursed to the Servicer prior to the most recent Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date) for any Servicer Advances made by the Servicer pursuant to Section 5.01 hereof. Such report shall also include the amount of the distribution with respect to each class of Notes to be made on the related Payment Date, the amount of such distribution allocable to principal, the amount of such distribution allocable to interest, the Asset Pool balance as of the close of business on the last day of the related Due Period, the aggregate outstanding principal balance and the Pool Factor for each class of Notes after giving effect to all distributions allocable to principal on such Payment Date, the amounts paid to or retained by the Servicer, if any, with respect to the related Due Period, and the amount of the aggregate Purchase Amounts in respect of Leases that have been reacquired, if any, for such Due Period. The Servicer hereby represents and warrants that such calculations will be correct and accurate, and the Servicer shall be fully responsible for, and shall reimburse and indemnify each Indemnified Party for, any loss resulting from such Indemnified Party's reliance on any such calculations which are not correct. (d) The Servicer shall deliver to the Issuer Issuer, the Trustee and the TrusteeInsurer, with a copy to each Rating Agency and the Insurer, within 135 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 19992003, an Officers' Certificate stating that the Servicer has fulfilled its obligations under the this Assignment and Servicing Agreement in all material respects throughout the preceding twelve (12) months (or, in the case of the first such certificate, the period from the Issuance Date) or if there has been any material default under the this Assignment and Servicing Agreement or the Indenture, describing such default. (e) The Servicer shall deliver to the Issuer Issuer, the Trustee and the TrusteeInsurer, with a copy to each Rating Agency and the Insurer, within 120 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 19992003, a report (the "Supplementary Report") signed by an Authorized Officer on behalf of the Servicer and dated as of the last day of such fiscal year, stating that (a) a review of the activities of the Servicer and the Servicer's performance under the this Assignment and Servicing Agreement and the Indenture for the previous 12-month period (or, in the case of the first such report, the period from the Issuance Date) has been made under such officer's supervision and (b) nothing has come to such officer's attention to indicate that a Servicer Event of Default has occurred, or, if any Servicer Event of Default has occurred and is continuing, specifying each such event known to the officer, the nature and status thereof and the steps necessary to remedy such event. (f) If any funds are to be withdrawn from the Collection Account other than as provided in Section 3.03(b) of the Indenture, the Servicer shall submit with the related Servicing Report the certificate required by Section 3.03(d) of the Indenture. (g) Within the prescribed period of time for tax reporting purposes after the end of each calendar year, the Servicer on behalf of the Issuer, will provide to the Noteholders a statement containing the distribution amount with respect to each class of Notes and the distribution amount allocable to interest for that calendar year and any other information required by applicable tax laws, for the purpose of the Noteholders' preparation of federal income tax returns. (h) The Servicer shall deliver to the Trustee and the Insurer and each of the Rating Agencies, within three days after obtaining knowledge of the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become an Event of Default under any of clauses (c), (d), (e) or (f) of Section 7.01 of the Indenture, its status and what action the Issuer or the Servicer is taking or proposes to take with respect thereto. (i) The Servicer shall provide the calculation of the notional amount from time to time as the Servicer is required to provide under the Swap Documents (specifically the confirmation related thereto).

Monthly Status Reports; Servicing Reports. (a) Within five Business Days following each Payment Date, the Servicer will send to the Issuer, Trustee (copies of which the Trustee shall send to each Rating Agency and to each holder of the Insurer Notes as provided in the Indenture) a written report, signed by one of the Servicer's financial officers, (i) identifying each Lease with respect to which any Lease Payment was 90 30 or more days overdue as of the end of the immediately preceding Due Collection Period, the Discounted Present Value Lease Balance of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Cut-Off Date), (ii) identifying each Lease with respect to which any Lease Payment was 60 or more days overdue as of the end of the immediately preceding Due Collection Period, the Discounted Present Value Lease Balance of such Lease as of such Payment Date, and the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Closing Date), (iii) identifying each Lease with respect to which became a Non-Performing any Lease Payment was more than 120 days overdue as of the end of the immediately preceding Determination Date and specifying Collection Period, the Discounted Present Value Lease Balance of such Lease as of such Determination Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Closing Date), (iv) identifying each Lease which became a Defaulted Lease as of the preceding Calculation Date and specifying the Discounted Lease Balance of such Lease as of such Calculation Date (or, in the case of the first such report, subsequent to the Cut-Off Date) and the aggregate Discounted Present Value Lease Balance of all such Non- Performing Defaulted Leases, and (ivv) indicating the aggregate amount recovered by the Servicer subsequent to the preceding Payment Date (or, in the case of the first Payment Date, subsequent to the Cut-Off Date) and on or prior to such Payment Date with respect to Lease Delinquency Payments and Lease Payments in respect of Non-Performing Leases Servicer Advances previously made by the Servicer (and the specific amounts so recovered with respect to any Non-Performing Lease) as of the related Determination DateServicer. Each such report shall also describe generally what action or actions the Servicer is then taking or proposes to take to recover from the appropriate Lessees any amounts previously paid by the Servicer to the Trustee pursuant to Section 5.01 4.01 hereof. (b) On the Determination Business Day preceding the Payment Date, the Servicer shall deliver to the Trustee, Trustee and to each Rating Agency and an Officer's Certificate signed by an officer of the Insurer Servicer accompanying a servicing report signed by an Authorized Officer of the Servicer (the a "Servicing Report") duly completed stating the date and dated, in substantially the form of Exhibit B A hereto. (c) The Servicing Report shall include, among other items, the total amount of all Lease Payments, Casualty Payments, Retainable Deposits, Termination Payments, Lease Purchase AmountsRepurchase Amount, recoveries related to Non- Performing Leases Servicer Advances, Similar Transaction Payments and other payments Other Lease Payments received by the Servicer and deposited in the Collection Account prior to the related Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date)Lockbox Account. Such report shall indicate the amount of all Lease Payments received by the Servicer and deposited in the Collection Account Lockbox Account, as applicable, which are for any Due Collection Period other than the Due Collection Period for such Determination Payment Date and shall identify each Lease with respect to which a Casualty Payment, Retainable Deposit, Termination Payment or Lease Purchase Repurchase Amount was made during such time period. Such report shall also indicate (i) the aggregate amount of Servicing Advances to be paid by the Servicer on or subsequent to the most recent Determination related Payment Date pursuant to Section 5.01 4.01 hereof, and (ii) the aggregate amount expected to be reimbursed to the Servicer prior to on the most recent Determination related Payment Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date) for any Servicer Advances made by the Servicer pursuant to Section 5.01 4.01 hereof. Such report shall also include the amount of the distribution with respect to each class of Notes to be made on the related Payment Date, the amount of such distribution allocable to principal, the amount of such distribution allocable to interest, the Asset Pool balance as of the close of business on the last day of the related Due Period, the aggregate outstanding principal balance and the Pool Factor for each class of Notes after giving effect to all distributions allocable to principal on such Payment Date, the amounts paid to or retained by the Servicer, if any, with respect to the related Due Period, and the amount of the aggregate Purchase Amounts in respect of Leases that have been reacquired, if any, for such Due Period. The Servicer hereby represents and warrants that such calculations will be correct and accurate, and the Servicer shall be fully responsible for, and shall reimburse and indemnify each Indemnified Party for, any loss resulting from such Indemnified Party's reliance on any such calculations which are not correct. (d) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 135 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999, an Officers' Certificate stating that If the Servicer has fulfilled its obligations under the Assignment and Servicing Agreement in all material respects throughout the preceding twelve (12) months (or, in the case of the first such certificate, the period intends to withdraw any funds from the Issuance Date) or if there has been any material default under the Assignment and Servicing Agreement or the Indenture, describing such default. (e) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 120 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999, a report (the "Supplementary Report") signed by an Authorized Officer on behalf of the Servicer and dated as of the last day of such fiscal year, stating that (a) a review of the activities of the Servicer and the Servicer's performance under the Assignment and Servicing Agreement and the Indenture for the previous 12-month period (or, in the case of the first such report, the period from the Issuance Date) has been made under such officer's supervision and (b) nothing has come to such officer's attention to indicate that a Servicer Event of Default has occurred, or, if any Servicer Event of Default has occurred and is continuing, specifying each such event known to the officer, the nature and status thereof and the steps necessary to remedy such event. (f) If any funds are to be withdrawn from the Collection Lockbox Account other than as provided in Section 3.03(b) of the Indentureon a Payment Date, the Servicer shall submit with such report a certificate (i) setting forth the related Servicing Report the certificate required by Section 3.03(d) of the Indenture. amounts to be withdrawn (g) Within the prescribed period of time for tax reporting purposes after the end of each calendar year, the Servicer on behalf of the Issuer, will provide to the Noteholders a statement containing the distribution amount with respect to each class of Notes and the distribution amount allocable to interest for that calendar year and any other information required by applicable tax laws, for the purpose of the Noteholders' preparation of federal income tax returns. (h) The Servicer shall deliver to the Trustee and the Insurer and each of the Rating Agencies, within three days after obtaining knowledge of the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become an Event of Default under any of clauses (citem-by-item basis), (d)ii) stating that none of such amounts, other than pertaining to the Servicing Fee or other servicer compensation, are all or part of any Lease Payment, Servicer Advances, recoveries related to Defaulted Leases, Lease Repurchase Amount, Casualty Payment or Termination Payment, and (eiii) identifying the Lease or (f) of Section 7.01 of the Indenture, its status and what action the Issuer or the Servicer is taking or proposes Leases to take with respect theretowhich such amounts relate.

Monthly Status Reports; Servicing Reports. (a) Within five Business Days following each Payment Date, the Servicer will send to the Issuer, Trustee (copies of which the Trustee shall send to each Rating Agency and to each holder of the Insurer Notes as provided in the Indenture) a written report, signed by one of the Servicer's financial officers, (i) identifying each Lease with respect to which any Lease Payment was 90 30 or more days overdue as of the end of the immediately preceding Due Lease Payment Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Cut-Off Date), (ii) identifying each Lease with respect to which any Lease Payment was 60 or more days overdue as of the end of the immediately preceding Due Lease Payment Period, the Discounted Present Value of such Lease as of such Payment Date, and the amount advanced by the Servicer with respect to such Lease pursuant to Section 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Closing Date), (iii) identifying each Lease with respect to which any Lease Payment was 93 or more days overdue as of the end of the immediately preceding Lease Payment Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Closing Date), (iiiiv) identifying each Lease which became a Non-Performing Lease as of the preceding Determination Date and specifying the Discounted Present Value of such Lease as of such Determination Date (or, in the case of the first such report, subsequent to the Cut-Off Date) and the aggregate Discounted Present Value of all such Non- Non-Performing Leases, and (ivv) indicating the aggregate amount recovered by the Servicer subsequent to the preceding Payment Date (or, in the case of the first Payment Date, subsequent to the Cut-Off Date) and on or prior to such Payment Date with respect to Lease Delinquency Payments and Lease Payments in respect of Non-Performing Leases Lease Payments previously made by the Seller and the Servicer (and the specific amounts so recovered with respect to any Non-Performing Lease) and (vi) indicating the Residual Realizations, as of the related Determination Date. Each such report shall also describe generally what action or actions the Servicer is then taking or proposes to take to recover from the appropriate Lessees any amounts previously paid by the Servicer to the Trustee pursuant to Section 5.01 4.01 hereof. (b) On the Business Day following the Determination Date, the Servicer shall deliver to the Trustee, each Rating Agency and the Insurer a servicing report Trustee two certificates signed by an Authorized Officer officer of the Servicer (the a "Receivable Servicing Report" and a "Residual Servicing Report," collectively "Servicing Report") duly completed stating the date and dated, in substantially the form of Exhibit B C hereto. (c) The Servicing Report shall include, among other items, the total amount of all Lease Payments, Casualty Payments, Retainable Deposits, Termination Payments, Lease Purchase Amounts, recoveries related to Non- Performing Leases and other payments received by the Servicer and deposited in the Collection Account prior to the related Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date). Such report shall indicate the amount of all Lease Payments received by the Servicer and deposited in the Collection Account which are for any Due Period other than the Due Period for such Determination Date and shall identify each Lease with respect to which a Casualty Payment, Retainable Deposit, Termination Payment or Lease Purchase Amount was made during such time period. Such report shall also indicate (i) the aggregate amount paid by the Servicer on or subsequent to the most recent Determination Date pursuant to Section 5.01 hereof, and (ii) the aggregate amount reimbursed to the Servicer prior to the most recent Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date) for any Servicer Advances made by the Servicer pursuant to Section 5.01 hereof. Such report shall also include the amount of the distribution with respect to each class of Notes to be made on the related Payment Date, the amount of such distribution allocable to principal, the amount of such distribution allocable to interest, the Asset Pool balance as of the close of business on the last day of the related Due Period, the aggregate outstanding principal balance and the Pool Factor for each class of Notes after giving effect to all distributions allocable to principal on such Payment Date, the amounts paid to or retained by the Servicer, if any, with respect to the related Due Period, and the amount of the aggregate Purchase Amounts in respect of Leases that have been reacquired, if any, for such Due Period. The Servicer hereby represents and warrants that such calculations will be correct and accurate, and the Servicer shall be fully responsible for, and shall reimburse and indemnify each Indemnified Party for, any loss resulting from such Indemnified Party's reliance on any such calculations which are not correct. (d) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 135 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999, an Officers' Certificate stating that the Servicer has fulfilled its obligations under the Assignment and Servicing Agreement in all material respects throughout the preceding twelve (12) months (or, in the case of the first such certificate, the period from the Issuance Date) or if there has been any material default under the Assignment and Servicing Agreement or the Indenture, describing such default. (e) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 120 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999, a report (the "Supplementary Report") signed by an Authorized Officer on behalf of the Servicer and dated as of the last day of such fiscal year, stating that (a) a review of the activities of the Servicer and the Servicer's performance under the Assignment and Servicing Agreement and the Indenture for the previous 12-month period (or, in the case of the first such report, the period from the Issuance Date) has been made under such officer's supervision and (b) nothing has come to such officer's attention to indicate that a Servicer Event of Default has occurred, or, if any Servicer Event of Default has occurred and is continuing, specifying each such event known to the officer, the nature and status thereof and the steps necessary to remedy such event. (f) If any funds are to be withdrawn from the Collection Account other than as provided in Section 3.03(b) of the Indenture, the Servicer shall submit with the related Servicing Report the certificate required by Section 3.03(d) of the Indenture. (g) Within the prescribed period of time for tax reporting purposes after the end of each calendar year, the Servicer on behalf of the Issuer, will provide to the Noteholders a statement containing the distribution amount with respect to each class of Notes and the distribution amount allocable to interest for that calendar year and any other information required by applicable tax laws, for the purpose of the Noteholders' preparation of federal income tax returns. (h) The Servicer shall deliver to the Trustee and the Insurer and each of the Rating Agencies, within three days after obtaining knowledge of the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become an Event of Default under any of clauses (c), (d), (e) or (f) of Section 7.01 of the Indenture, its status and what action the Issuer or the Servicer is taking or proposes to take with respect thereto.

Monthly Status Reports; Servicing Reports. (a) Within five Business Days following each Payment Date, the Servicer will send to the Issuer, Trustee (copies of which the Trustee shall send to each Rating Agency and to each holder of the Insurer Notes as provided in the Indenture) a written report, signed by one of the Servicer's financial officers, (i) identifying each Lease with respect to which any Lease Payment was 90 30 or more days overdue as of the end of the immediately preceding Due Lease Payment Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Cut-Off Date), (ii) identifying each Lease with respect to which any Lease Payment was 60 or more days overdue as of the end of the immediately preceding Due Lease Payment Period, the Discounted Present Value of such Lease as of such Payment Date, and the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Date), (iii) identifying each Lease with respect to which became a Non-Performing any Lease Payment was 93 or more days overdue as of the end of the immediately preceding Determination Date and specifying Lease Payment Period, the Discounted Present Value of such Lease as of such Determination Date (or, in the case of the first such report, subsequent to the Cut-Off Date) and the aggregate Discounted Present Value of all such Non- Performing Leases, and (iv) indicating the aggregate amount recovered by the Servicer subsequent to the preceding Payment Date (or, in the case of the first Payment Date, subsequent to the Cut-Off Date) and on or prior to such Payment Date with respect to Lease Delinquency Payments and Lease Payments in respect of Non-Performing Leases previously made by the Servicer (and the specific amounts so recovered with respect to any Non-Performing Lease) as of the related Determination Date. Each such report shall also describe generally what action or actions the Servicer is then taking or proposes to take to recover from the appropriate Lessees any amounts previously paid by the Servicer to the Trustee pursuant to Section 5.01 hereof. (b) On the Determination Date, the Servicer shall deliver to the Trustee, each Rating Agency and the Insurer a servicing report signed by an Authorized Officer of the Servicer (the "Servicing Report") duly completed and dated, in substantially the form of Exhibit B hereto. (c) The Servicing Report shall include, among other items, the total amount of all Lease Payments, Casualty Payments, Retainable Deposits, Termination Payments, Lease Purchase Amounts, recoveries related to Non- Performing Leases and other payments received by the Servicer and deposited in the Collection Account prior to the related Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date). Such report shall indicate the amount of all Lease Payments received by the Servicer and deposited in the Collection Account which are for any Due Period other than the Due Period for such Determination Date and shall identify each Lease with respect to which a Casualty Payment, Retainable Deposit, Termination Payment or Lease Purchase Amount was made during such time period. Such report shall also indicate (i) the aggregate amount paid by the Servicer on or subsequent to the most recent Determination Date pursuant to Section 5.01 hereof, and (ii) the aggregate amount reimbursed to the Servicer prior to the most recent Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date) for any Servicer Advances made by the Servicer pursuant to Section 5.01 hereof. Such report shall also include the amount of the distribution with respect to each class of Notes to be made on the related Payment Date, the amount of such distribution allocable to principal, the amount of such distribution allocable to interest, the Asset Pool balance as of the close of business on the last day of the related Due Period, the aggregate outstanding principal balance and the Pool Factor for each class of Notes after giving effect to all distributions allocable to principal on such Payment Date, the amounts paid to or retained advanced by the Servicer, if any, Servicer with respect to the related Due Period, and the amount of the aggregate Purchase Amounts in respect of Leases that have been reacquired, if any, for such Due Period. The Servicer hereby represents and warrants that such calculations will be correct and accurate, and the Servicer shall be fully responsible for, and shall reimburse and indemnify each Indemnified Party for, any loss resulting from such Indemnified Party's reliance on any such calculations which are not correct. (d) The Servicer shall deliver Lease pursuant to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 135 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999, an Officers' Certificate stating that the Servicer has fulfilled its obligations under the Assignment and Servicing Agreement in all material respects throughout the preceding twelve (12) months (or, in the case of the first such certificate, the period from the Issuance Date) or if there has been any material default under the Assignment and Servicing Agreement or the Indenture, describing such default. (e) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 120 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999, a report (the "Supplementary Report") signed by an Authorized Officer on behalf of the Servicer and dated as of the last day of such fiscal year, stating that (a) a review of the activities of the Servicer and the Servicer's performance under the Assignment and Servicing Agreement and the Indenture for the previous 12-month period (or, in the case of the first such report, the period from the Issuance Date) has been made under such officer's supervision and (b) nothing has come to such officer's attention to indicate that a Servicer Event of Default has occurred, or, if any Servicer Event of Default has occurred and is continuing, specifying each such event known to the officer, the nature and status thereof and the steps necessary to remedy such event. (f) If any funds are to be withdrawn from the Collection Account other than as provided in Section 3.03(b) of the Indenture, the Servicer shall submit with the related Servicing Report the certificate required by Section 3.03(d) of the Indenture. (g) Within the prescribed period of time for tax reporting purposes after the end of each calendar year, the Servicer on behalf of the Issuer, will provide to the Noteholders a statement containing the distribution amount with respect to each class of Notes and the distribution amount allocable to interest for that calendar year and any other information required by applicable tax laws, for the purpose of the Noteholders' preparation of federal income tax returns. (h) The Servicer shall deliver to the Trustee and the Insurer and each of the Rating Agencies, within three days after obtaining knowledge of the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become an Event of Default under any of clauses (c), (d), (e) or (f) of Section 7.01 of the Indenture, its status and what action the Issuer or the Servicer is taking or proposes to take with respect thereto.4.01 hereof

Monthly Status Reports; Servicing Reports. (a) Within five Business Days following each Payment Date, the Servicer will send to the Issuer, Trustee (copies of which the Trustee shall send to each Rating Agency and to each holder of the Insurer Notes as provided in the Indenture) a written report, signed by one of the Servicer's financial officers, (i) identifying each Lease with respect to which any Lease Payment was 90 30 or more days overdue as of the end of the immediately preceding Due Collection Period, the Discounted Present Value Lease Balance of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Cut-Off Date), (ii) identifying each Lease with respect to which any Lease Payment was 60 or more days overdue as of the end of the immediately preceding Due Collection Period, the Discounted Present Value Lease Balance of such Lease as of such Payment Date, and the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Closing Date), (iii) identifying each Lease with respect to which became a Non-Performing any Lease Payment was more than 120 days overdue as of the end of the immediately preceding Determination Date and specifying Collection Period, the Discounted Present Value Lease Balance of such Lease as of such Determination Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 4.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Closing Date), (iv) identifying each Lease which became a Defaulted Lease as of the preceding Calculation Date and specifying the Discounted Lease Balance of such Lease as of such Calculation Date (or, in the case of the first such report, subsequent to the Cut-Off Date) and the aggregate Discounted Present Value Lease Balance of all such Non- Performing Defaulted Leases, and (ivv) indicating the aggregate amount recovered by the Servicer subsequent to the preceding Payment Date (or, in the case of the first Payment Date, subsequent to the Cut-Off Date) and on or prior to such Payment Date with respect to Lease Delinquency Payments and Lease Payments in respect of Non-Performing Leases Servicer Advances previously made by the Servicer (and the specific amounts so recovered with respect to any Non-Performing Lease) as of the related Determination DateServicer. Each such report shall also describe generally what action or actions the Servicer is then taking or proposes to take to recover from the appropriate Lessees any amounts previously paid by the Servicer to the Trustee pursuant to Section 5.01 4.01 hereof. (b) On or before the Determination third Business Day preceding the Payment Date, the Servicer shall deliver to the Trustee, Trustee and to each Rating Agency and an Officer's Certificate signed by an officer of the Insurer Servicer accompanying a servicing report signed by an Authorized Officer of the Servicer (the a "Servicing Report") duly completed stating the date and dated, in substantially the form of Exhibit B A hereto. Such report shall be provided in an electronic format reasonably acceptable to the Trustee. (c) The Servicing Report shall include, among other items, the total amount of all Lease Payments, Casualty Payments, Retainable Deposits, Termination Payments, Lease Purchase AmountsRepurchase Amount, recoveries related to Non- Performing Leases Servicer Advances, and other payments Other Lease Payments received by the Servicer and deposited in the Collection Account prior to the related Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date)Distribution Account. Such report shall indicate the amount of all Lease Payments received by the Servicer and deposited in the Collection Account Distribution Account, as applicable, which are for any Due Collection Period other than the Due Collection Period for such Determination Payment Date and shall identify each Lease with respect to which a Casualty Payment, Retainable Deposit, Termination Payment or Lease Purchase Repurchase Amount was made during such time period. Such report shall also indicate (i) the aggregate amount of Servicing Advances to be paid by the Servicer on or subsequent to the most recent Determination related Payment Date pursuant to Section 5.01 4.01 hereof, and (ii) the aggregate amount expected to be reimbursed to the Servicer prior to on the most recent Determination related Payment Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date) for any Servicer Advances made by the Servicer pursuant to Section 5.01 4.01 hereof. Such report shall also include the amount of the distribution with respect to each class of Notes to be made on the related Payment Date, the amount of such distribution allocable to principal, the amount of such distribution allocable to interest, the Asset Pool balance as of the close of business on the last day of the related Due Period, the aggregate outstanding principal balance and the Pool Factor for each class of Notes after giving effect to all distributions allocable to principal on such Payment Date, the amounts paid to or retained by the Servicer, if any, with respect to the related Due Period, and the amount of the aggregate Purchase Amounts in respect of Leases that have been reacquired, if any, for such Due Period. The Servicer hereby represents and warrants that such calculations will be correct and accurate, and the Servicer shall be fully responsible for, and shall reimburse and indemnify each Indemnified Party for, any loss resulting from such Indemnified Party's reliance on any such calculations which are not correct. (d) The If the Servicer shall deliver to requests the Issuer and withdrawal of any funds from the Trustee, with a copy to each Rating Agency and the Insurer, within 135 days following the end of each fiscal year Distribution Account which constitute any part of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999, an Officers' Certificate stating that the Servicer has fulfilled its obligations under the Assignment and Servicing Agreement in all material respects throughout the preceding twelve (12) months (or, in the case of the first such certificate, the period from the Issuance Date) or if there has been any material default under the Assignment and Servicing Agreement or the Indenture, describing such default. (e) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 120 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999, a report (the "Supplementary Report") signed by an Authorized Officer on behalf of the Servicer and dated as of the last day of such fiscal year, stating that (a) a review of the activities of the Servicer and the Servicer's performance under the Assignment and Servicing Agreement and the Indenture for the previous 12-month period (or, in the case of the first such report, the period from the Issuance Date) has been made under such officer's supervision and (b) nothing has come to such officer's attention to indicate that a Servicer Event of Default has occurred, or, if any Servicer Event of Default has occurred and is continuing, specifying each such event known to the officer, the nature and status thereof and the steps necessary to remedy such event. (f) If any funds are to be withdrawn from the Collection Account Granted Assets other than as provided in Section 3.03(b) of the Indentureon a Payment Date, the Servicer shall submit with the related Servicing Report the certificate required by Section 3.03(d) of the Indenture. (g) Within the prescribed period of time for tax reporting purposes after the end of each calendar year, the Servicer on behalf of the Issuer, will provide to the Noteholders a statement containing the distribution amount with respect to each class of Notes and the distribution amount allocable to interest for that calendar year and any other information required by applicable tax laws, for the purpose of the Noteholders' preparation of federal income tax returns. (h) The Servicer shall deliver to the Trustee and with such report a certificate (i) setting forth the Insurer and each of the Rating Agencies, within three days after obtaining knowledge of the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become amounts to be withdrawn (on an Event of Default under any of clauses (citem-by-item basis), (d)ii) stating that none of such amounts, other than those pertaining to the Servicing Fee or other servicer compensation, are all or part of any Lease Payment, Servicer Advances, recoveries related to Defaulted Leases, Lease Repurchase Amount, Casualty Payment or Termination Payment, and (eiii) identifying the Lease or (f) of Section 7.01 of the Indenture, its status and what action the Issuer or the Servicer is taking or proposes Leases to take with respect theretowhich such amounts relate.

Monthly Status Reports; Servicing Reports. (a) Within five Business Days following each Payment Date, the Servicer will send to the Issuer, the Trustee [and the Insurer Insurer] a written report, signed by one of the Servicer's financial officers, (i) identifying each Lease with respect to which any Lease Payment was 90 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Cut-Off Date), (ii) identifying each Lease with respect to which any Lease Payment was 60 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, and the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Date), (iii) identifying each Lease which became a Non-Performing Lease as of the preceding Determination Date and specifying the Discounted Present Value of such Lease as of such Determination Date (or, in the case of the first such report, subsequent to the Cut-Off Date) and the aggregate Discounted Present Value of all such Non- Performing Leases, and (iv) indicating the aggregate amount recovered by the Servicer subsequent to the preceding Payment Date (or, in the case of the first Payment Date, subsequent to the Cut-Off Date) and on or prior to such Payment Date with respect to Lease Delinquency Payments and Lease Payments in respect of Non-Performing Leases previously made by the Servicer (and the specific amounts so recovered with respect to any Non-Performing Lease) as of the related Determination Date. Each such report shall also describe generally what action or actions the Servicer is then taking or proposes to take to recover from the appropriate Lessees any amounts previously paid by the Servicer to the Trustee pursuant to Section 5.01 hereof. (b) On the Determination Date, the Servicer shall deliver to the Trustee, each Rating Agency and the Insurer a servicing report signed by an Authorized Officer of the Servicer (the "Servicing Report") duly completed and dated, in substantially the form of Exhibit B hereto. (c) The Servicing Report shall include, among other items, the total amount of all Lease Payments, Casualty Payments, Retainable Deposits, Termination Payments, Lease Purchase Amounts, recoveries related to Non- Performing Leases and other payments received by the Servicer and deposited in the Collection Account prior to the related Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date). Such report shall indicate the amount of all Lease Payments received by the Servicer and deposited in the Collection Account which are for any Due Period other than the Due Period for such Determination Date and shall identify each Lease with respect to which a Casualty Payment, Retainable Deposit, Termination Payment or Lease Purchase Amount was made during such time period. Such report shall also indicate (i) the aggregate amount paid by the Servicer on or subsequent to the most recent Determination Date pursuant to Section 5.01 hereof, and (ii) the aggregate amount reimbursed to the Servicer prior to the most recent Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date) for any Servicer Advances made by the Servicer pursuant to Section 5.01 hereof. Such report shall also include the amount of the distribution with respect to each class of Notes to be made on the related Payment Date, the amount of such distribution allocable to principal, the amount of such distribution allocable to interest, the Asset Pool balance as of the close of business on the last day of the related Due Period, the aggregate outstanding principal balance and the Pool Factor for each class of Notes after giving effect to all distributions allocable to principal on such Payment Date, the amounts paid to or retained by the Servicer, if any, with respect to the related Due Period, and the amount of the aggregate Purchase Amounts in respect of Leases that have been reacquired, if any, for such Due Period. The Servicer hereby represents and warrants that such calculations will be correct and accurate, and the Servicer shall be fully responsible for, and shall reimburse and indemnify each Indemnified Party for, any loss resulting from such Indemnified Party's reliance on any such calculations which are not correct. (d) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency [and the Insurer], within 135 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999200__, an Officers' Certificate stating that the Servicer has fulfilled its obligations under the Assignment and Servicing Agreement in all material respects throughout the preceding twelve (12) months (or, in the case of the first such certificate, the period from the Issuance Date) or if there has been any material default under the Assignment and Servicing Agreement or the Indenture, describing such default. (e) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency [and the Insurer], within 120 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 1999200__, a report (the "Supplementary Report") signed by an Authorized Officer on behalf of the Servicer and dated as of the last day of such fiscal year, stating that (a) a review of the activities of the Servicer and the Servicer's performance under the Assignment and Servicing Agreement and the Indenture for the previous 12-month period (or, in the case of the first such report, the period from the Issuance Date) has been made under such officer's supervision and (b) nothing has come to such officer's attention to indicate that a Servicer Event of Default has occurred, or, if any Servicer Event of Default has occurred and is continuing, specifying each such event known to the officer, the nature and status thereof and the steps necessary to remedy such event. (f) If any funds are to be withdrawn from the Collection Account other than as provided in Section 3.03(b) of the Indenture, the Servicer shall submit with the related Servicing Report the certificate required by Section 3.03(d) of the Indenture. (g) Within the prescribed period of time for tax reporting purposes after the end of each calendar year, the Servicer on behalf of the Issuer, will provide to the Noteholders a statement containing the distribution amount with respect to each class of Notes and the distribution amount allocable to interest for that calendar year and any other information required by applicable tax laws, for the purpose of the Noteholders' preparation of federal income tax returns. (h) The Servicer shall deliver to the Trustee and the Insurer and each of the Rating Agencies, within three days after obtaining knowledge of the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become an Event of Default under any of clauses (c), (d), (e) or (f) of Section 7.01 of the Indenture, its status and what action the Issuer or the Servicer is taking or proposes to take with respect thereto.

Monthly Status Reports; Servicing Reports. (a) Within five Business Days following each Payment Date, the Servicer will send to the Issuer, the Trustee and the Insurer a written report, signed by one of the Servicer's financial officers, (i) identifying each Lease with respect to which any Lease Payment was 90 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Cut-Off Date), (ii) identifying each Lease with respect to which any Lease Payment was 60 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, and the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Date), (iii) identifying each Lease which became a Non-Performing Lease as of the preceding Determination Date and specifying the Discounted Present Value of such Lease as of such Determination Date (or, in the case of the first such report, subsequent to the Cut-Off Date) and the aggregate Discounted Present Value of all such Non- Non-Performing Leases, and (iv) indicating the aggregate amount recovered by the Servicer subsequent to the preceding Payment Date (or, in the case of the first Payment Date, subsequent to the Cut-Off Date) and on or prior to such Payment Date with respect to Lease Delinquency Payments and Lease Payments in respect of Non-Performing Leases previously made by the Servicer (and the specific amounts so recovered with respect to any Non-Performing Lease) as of the related Determination Date. Each such report shall also describe generally what action or actions the Servicer is then taking or proposes to take to recover from the appropriate Lessees any amounts previously paid by the Servicer to the Trustee pursuant to Section 5.01 hereof. (b) On the Determination Date, the Servicer shall deliver to the Trustee, each Rating Agency Agency, the Counterparty and the Insurer a servicing report signed by an Authorized Officer of the Servicer (the "Servicing Report") duly completed and dated, in substantially the form of Exhibit B hereto. (c) The Servicing Report shall include, among other items, the total amount of all Lease Payments, Casualty Payments, Retainable Deposits, Termination Payments, Lease Purchase Amounts, recoveries related to Non- Non-Performing Leases and other payments received by the Servicer and deposited in the Collection Account prior to the related Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date). Such report shall indicate the amount of all Lease Payments received by the Servicer and deposited in the Collection Account which are for any Due Period other than the Due Period for such Determination Date and shall identify each Lease with respect to which a Casualty Payment, Retainable Deposit, Termination Payment or Lease Purchase Amount was made during such time period. Such report shall also indicate (i) the aggregate amount paid by the Servicer on or subsequent to the most recent Determination Date pursuant to Section 5.01 hereof, and (ii) the aggregate amount reimbursed to the Servicer prior to the most recent Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date) for any Servicer Advances made by the Servicer pursuant to Section 5.01 hereof. Such report shall also include the amount of the distribution with respect to each class of Notes to be made on the related Payment Date, the amount of such distribution allocable to principal, the amount of such distribution allocable to interest, the Asset Pool balance as of the close of business on the last day of the related Due Period, the aggregate outstanding principal balance and the Pool Factor for each class of Notes after giving effect to all distributions allocable to principal on such Payment Date, the amounts paid to or retained by the Servicer, if any, with respect to the related Due Period, and the amount of the aggregate Purchase Amounts in respect of Leases that have been reacquired, if any, for such Due Period. The Servicer hereby represents and warrants that such calculations will be correct and accurate, and the Servicer shall be fully responsible for, and shall reimburse and indemnify each Indemnified Party for, any loss resulting from such Indemnified Party's reliance on any such calculations which are not correct. (d) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 135 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 19992001, an Officers' Certificate stating that the Servicer has fulfilled its obligations under the Assignment and Servicing Agreement in all material respects throughout the preceding twelve (12) months (or, in the case of the first such certificate, the period from the Issuance Date) or if there has been any material default under the Assignment and Servicing Agreement or the Indenture, describing such default. (e) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 120 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 19992001, a report (the "Supplementary Report") signed by an Authorized Officer on behalf of the Servicer and dated as of the last day of such fiscal year, stating that (a) a review of the activities of the Servicer and the Servicer's performance under the Assignment and Servicing Agreement and the Indenture for the previous 12-month period (or, in the case of the first such report, the period from the Issuance Date) has been made under such officer's supervision and (b) nothing has come to such officer's attention to indicate that a Servicer Event of Default has occurred, or, if any Servicer Event of Default has occurred and is continuing, specifying each such event known to the officer, the nature and status thereof and the steps necessary to remedy such event. (f) If any funds are to be withdrawn from the Collection Account other than as provided in Section 3.03(b) of the Indenture, the Servicer shall submit with the related Servicing Report the certificate required by Section 3.03(d) of the Indenture. (g) Within the prescribed period of time for tax reporting purposes after the end of each calendar year, the Servicer on behalf of the Issuer, will provide to the Noteholders a statement containing the distribution amount with respect to each class of Notes and the distribution amount allocable to interest for that calendar year and any other information required by applicable tax laws, for the purpose of the Noteholders' preparation of federal income tax returns. (h) The Servicer shall deliver to the Trustee and the Insurer and each of the Rating Agencies, within three days after obtaining knowledge of the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become an Event of Default under any of clauses (c), (d), (e) or (f) of Section 7.01 of the Indenture, its status and what action the Issuer or the Servicer is taking or proposes to take with respect thereto.

Monthly Status Reports; Servicing Reports. (a) Within five Business Days following each Payment Date, the Servicer will send to the Issuer, the Trustee and the Insurer a written report, signed by one of the Servicer's financial officers, (i) identifying each Lease with respect to which any Lease Payment was 90 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Cut-Off Date), (ii) identifying each Lease with respect to which any Lease Payment was 60 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, and the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Date), (iii) identifying each Lease which became a Non-Performing Lease as of the preceding Determination Date and specifying the Discounted Present Value of such Lease as of such Determination Date (or, in the case of the first such report, subsequent to the Cut-Off Date) and the aggregate Discounted Present Value of all such Non- Non-Performing Leases, and (iv) indicating the aggregate amount recovered by the Servicer subsequent to the preceding Payment Date (or, in the case of the first Payment Date, subsequent to the Cut-Off Date) and on or prior to such Payment Date with respect to Lease Delinquency Payments and Lease Payments in respect of Non-Performing Leases previously made by the Servicer (and the specific amounts so recovered with respect to any Non-Performing Lease) as of the related Determination Date. Each such report shall also describe generally what action or actions the Servicer is then taking or proposes to take to recover from the appropriate Lessees any amounts previously paid by the Servicer to the Trustee pursuant to Section 5.01 hereof. (b) On the Determination Date, the Servicer shall deliver to the Trustee, each Rating Agency Agency, the Counterparty and the Insurer a servicing report signed by an Authorized Officer of the Servicer (the "Servicing Report") duly completed and dated, in substantially the form of Exhibit B hereto. (c) The Servicing Report shall include, among other items, the total amount of all Lease Payments, Casualty Payments, Retainable Deposits, Termination Payments, Lease Purchase Amounts, recoveries related to Non- Non-Performing Leases and other payments received by the Servicer and deposited in the Collection Account prior to the related Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date). Such report shall indicate the amount of all Lease Payments received by the Servicer and deposited in the Collection Account which are for any Due Period other than the Due Period for such Determination Date and shall identify each Lease with respect to which a Casualty Payment, Retainable Deposit, Termination Payment or Lease Purchase Amount was made during such time period. Such report shall also indicate (i) the aggregate amount paid by the Servicer on or subsequent to the most recent Determination Date pursuant to Section 5.01 hereof, and (ii) the aggregate amount reimbursed to the Servicer prior to the most recent Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date) for any Servicer Advances made by the Servicer pursuant to Section 5.01 hereof. Such report shall also include the amount of the distribution with respect to each class of Notes to be made on the related Payment Date, the amount of such distribution allocable to principal, the amount of such distribution allocable to interest, the Asset Pool balance as of the close of business on the last day of the related Due Period, the aggregate outstanding principal balance and the Pool Factor for each class of Notes after giving effect to all distributions allocable to principal on such Payment Date, the amounts paid to or retained by the Servicer, if any, with respect to the related Due Period, and the amount of the aggregate Purchase Amounts in respect of Leases that have been reacquired, if any, for such Due Period. The Servicer hereby represents and warrants that such calculations will be correct and accurate, and the Servicer shall be fully responsible for, and shall reimburse and indemnify each Indemnified Party for, any loss resulting from such Indemnified Party's reliance on any such calculations which are not correct. (d) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 135 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 19992000, an Officers' Certificate stating that the Servicer has fulfilled its obligations under the Assignment and Servicing Agreement in all material respects throughout the preceding twelve (12) months (or, in the case of the first such certificate, the period from the Issuance Date) or if there has been any material default under the Assignment and Servicing Agreement or the Indenture, describing such default. (e) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 120 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 19992000, a report (the "Supplementary Report") signed by an Authorized Officer on behalf of the Servicer and dated as of the last day of such fiscal year, stating that (a) a review of the activities of the Servicer and the Servicer's performance under the Assignment and Servicing Agreement and the Indenture for the previous 12-month period (or, in the case of the first such report, the period from the Issuance Date) has been made under such officer's supervision and (b) nothing has come to such officer's attention to indicate that a Servicer Event of Default has occurred, or, if any Servicer Event of Default has occurred and is continuing, specifying each such event known to the officer, the nature and status thereof and the steps necessary to remedy such event. (f) If any funds are to be withdrawn from the Collection Account other than as provided in Section 3.03(b) of the Indenture, the Servicer shall submit with the related Servicing Report the certificate required by Section 3.03(d) of the Indenture. (g) Within the prescribed period of time for tax reporting purposes after the end of each calendar year, the Servicer on behalf of the Issuer, will provide to the Noteholders a statement containing the distribution amount with respect to each class of Notes and the distribution amount allocable to interest for that calendar year and any other information required by applicable tax laws, for the purpose of the Noteholders' preparation of federal income tax returns. (h) The Servicer shall deliver to the Trustee and the Insurer and each of the Rating Agencies, within three days after obtaining knowledge of the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become an Event of Default under any of clauses (c), (d), (e) or (f) of Section 7.01 of the Indenture, its status and what action the Issuer or the Servicer is taking or proposes to take with respect thereto.

Monthly Status Reports; Servicing Reports. (a) Within five Business Days following each Payment Date, the Servicer will send to the Issuer, the Trustee and the Insurer a written report, signed by one of the Servicer's financial officers, (i) identifying each Lease with respect to which any Lease Payment was 90 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Cut-Off Date), (ii) identifying each Lease with respect to which any Lease Payment was 60 or more days overdue as of the end of the immediately preceding Due Period, the Discounted Present Value of such Lease as of such Payment Date, and the amount advanced by the Servicer with respect to such Lease pursuant to Section 5.01 hereof since the Servicer's previous monthly report (or, in the case of the first such report, since the Issuance Date), (iii) identifying each Lease which became a Non-Performing Lease as of the preceding Determination Date and specifying the Discounted Present Value of such Lease as of such Determination Date (or, in the case of the first such report, subsequent to the Cut-Off Date) and the aggregate Discounted Present Value of all such Non- Non-Performing Leases, and (iv) indicating the aggregate amount recovered by the Servicer subsequent to the preceding Payment Date (or, in the case of the first Payment Date, subsequent to the Cut-Off Date) and on or prior to such Payment Date with respect to Lease Delinquency Payments and Lease Payments in respect of Non-Performing Leases previously made by the Servicer (and the specific amounts so recovered with respect to any Non-Performing Lease) as of the related Determination Date. Each such report shall also describe generally what action or actions the Servicer is then taking or proposes to take to recover from the appropriate Lessees any amounts previously paid by the Servicer to the Trustee pursuant to Section 5.01 hereof. (b) On the Determination Date, the Servicer shall deliver to the Trustee, each Rating Agency and the Insurer a servicing report signed by an Authorized Officer of the Servicer (the "Servicing Report") duly completed and dated, in substantially the form of Exhibit B hereto. (c) The Servicing Report shall include, among other items, the total amount of all Lease Payments, Casualty Payments, Retainable Deposits, Termination Payments, Lease Purchase Amounts, recoveries related to Non- Non-Performing Leases and other payments received by the Servicer and deposited in the Collection Account prior to the related Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date). Such report shall indicate the amount of all Lease Payments received by the Servicer and deposited in the Collection Account which are for any Due Period other than the Due Period for such Determination Date and shall identify each Lease with respect to which a Casualty Payment, Retainable Deposit, Termination Payment or Lease Purchase Amount was made during such time period. Such report shall also indicate (i) the aggregate amount paid by the Servicer on or subsequent to the most recent Determination Date pursuant to Section 5.01 hereof, and (ii) the aggregate amount reimbursed to the Servicer prior to the most recent Determination Date and on or subsequent to the Determination Date preceding such Determination Date (or, in the case of the first Determination Date, on or subsequent to the Cut-Off Date) for any Servicer Advances made by the Servicer pursuant to Section 5.01 hereof. Such report shall also include the amount of the distribution with respect to each class of Notes to be made on the related Payment Date, the amount of such distribution allocable to principal, the amount of such distribution allocable to interest, the Asset Pool balance as of the close of business on the last day of the related Due Period, the aggregate outstanding principal balance and the Pool Factor for each class of Notes after giving effect to all distributions allocable to principal on such Payment Date, the amounts paid to or retained by the Servicer, if any, with respect to the related Due Period, and the amount of the aggregate Purchase Amounts in respect of Leases that have been reacquired, if any, for such Due Period. The Servicer hereby represents and warrants that such calculations will be correct and accurate, and the Servicer shall be fully responsible for, and shall reimburse and indemnify each Indemnified Party for, any loss resulting from such Indemnified Party's reliance on any such calculations which are not correct. (d) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 135 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 19992002, an Officers' Certificate stating that the Servicer has fulfilled its obligations under the Assignment and Servicing Agreement in all material respects throughout the preceding twelve (12) months (or, in the case of the first such certificate, the period from the Issuance Date) or if there has been any material default under the Assignment and Servicing Agreement or the Indenture, describing such default. (e) The Servicer shall deliver to the Issuer and the Trustee, with a copy to each Rating Agency and the Insurer, within 120 days following the end of each fiscal year of the Servicer, beginning with the Servicer's fiscal year ending September 30, 19992002, a report (the "Supplementary Report") signed by an Authorized Officer on behalf of the Servicer and dated as of the last day of such fiscal year, stating that (a) a review of the activities of the Servicer and the Servicer's performance under the Assignment and Servicing Agreement and the Indenture for the previous 12-month period (or, in the case of the first such report, the period from the Issuance Date) has been made under such officer's supervision and (b) nothing has come to such officer's attention to indicate that a Servicer Event of Default has occurred, or, if any Servicer Event of Default has occurred and is continuing, specifying each such event known to the officer, the nature and status thereof and the steps necessary to remedy such event. (f) If any funds are to be withdrawn from the Collection Account other than as provided in Section 3.03(b) of the Indenture, the Servicer shall submit with the related Servicing Report the certificate required by Section 3.03(d) of the Indenture. (g) Within the prescribed period of time for tax reporting purposes after the end of each calendar year, the Servicer on behalf of the Issuer, will provide to the Noteholders a statement containing the distribution amount with respect to each class of Notes and the distribution amount allocable to interest for that calendar year and any other information required by applicable tax laws, for the purpose of the Noteholders' preparation of federal income tax returns. (h) The Servicer shall deliver to the Trustee and the Insurer and each of the Rating Agencies, within three days after obtaining knowledge of the occurrence thereof, written notice of any event which with the giving of notice or the lapse of time would become an Event of Default under any of clauses (c), (d), (e) or (f) of Section 7.01 of the Indenture, its status and what action the Issuer or the Servicer is taking or proposes to take with respect thereto.