Common use of Non-Performing Leases Clause in Contracts

Non-Performing Leases. (a) Upon receipt of notice from the Issuer, the Trustee or any other Person, or if the Servicer otherwise learns that any Lease is a Non-Performing Lease, the Servicer will take such action as is appropriate, consistent with the Servicer's administration of leases in its own portfolio and consistent with the customary practices of servicers in the equipment leasing industry, including such action as may be necessary to cause, or attempt to cause, the Lessee thereunder to cure such non-performance (if the same may be cured) or to terminate or attempt to terminate such Lease and to recover, or attempt to recover, all damages resulting from such default. The Servicer shall demand, on behalf of the Issuer, that the Transferor immediately repay any Inter-Company Loan representing the advance pursuant to Section 13.01 hereof of any security deposit with respect to any Lease which becomes a Non-Performing Lease, and the Servicer shall apply such security deposit in accordance with Section 3.03(d) hereof.

Non-Performing Leases. (a) Upon receipt of notice from the IssuerCompany, the Trustee or any other Person, or if the Servicer otherwise learns that any Lease is a Non-Performing Lease, the Servicer will take such action as is appropriate, consistent with the Servicer's administration of leases in its own portfolio and consistent with the customary practices of servicers in the equipment leasing industry, including such action as may be necessary to cause, or attempt to cause, the Lessee thereunder to cure such non-performance (if the same may be cured) or to terminate or attempt to terminate such Lease and to recover, or attempt to recover, all damages resulting from such default. The Servicer shall demand, on behalf of the IssuerCompany, that the Transferor Seller immediately repay any Inter-Company Loan representing the advance pursuant to Section 13.01 12.01 hereof of any security deposit with respect to any Lease which becomes a Non-Performing Lease, and the Servicer shall apply such security deposit in accordance with Section 3.03(d) hereof.

Non-Performing Leases. (a) Upon receipt of notice from the IssuerTrust, the Trustee or any other Person, or if the Servicer otherwise learns that any Lease is a Non-Performing Lease, the Servicer will take such action as is appropriate, consistent with the Servicer's administration of leases in its own portfolio and consistent with the customary practices of servicers in the equipment leasing industry, including such action as may be necessary to cause, or attempt to cause, the Lessee thereunder to cure such non-performance (if the same may be cured) or to terminate or attempt to terminate such Lease and to recover, or attempt to recover, all damages resulting from such default. The Servicer shall demand, on behalf of the IssuerTrust, that the Transferor Originator immediately repay any Inter-Company Loan representing the advance pursuant to Section 13.01 15.01 hereof of any security deposit with respect to any Lease which becomes a Non-Performing Lease, and the Servicer shall apply such security deposit in accordance with Section 3.03(d4.03(d) hereof.

Non-Performing Leases. (a) Upon receipt of notice from the IssuerCompany, the Trustee or any other Person, or if the Servicer otherwise learns that any Lease is a Non-Performing Lease, the Servicer will take such action as is appropriate, consistent with the Servicer's administration of leases in its own portfolio and consistent with the customary practices of servicers in the equipment leasing industry, including such action as may be necessary to cause, or attempt to cause, the Lessee thereunder to cure such non-performance (if the same may be cured) or to terminate or attempt to terminate such Lease and to recover, or attempt to recover, all damages resulting from such default. The Servicer shall demand, on behalf of the IssuerCompany, that the Transferor Seller immediately repay any Inter-Company Loan representing the advance pursuant to Section 13.01 hereof of any security deposit with respect to any Lease which becomes a Non-Performing Lease, and the Servicer shall apply such security deposit in accordance with Section 3.03(d) hereof.