Payment and Reimbursement of Liquidation Expenses. (a) In connection with the repossession or sale of any Leased Vehicle, the Servicer shall be entitled, if such Leased Vehicle shall have sustained any damage, to expend funds in connection with any repair or towards the repossession of such Leased Vehicle if it has determined in its discretion that such repair and/or repossession shall increase the proceeds of liquidation of the Leased Vehicle and related Lease by an amount greater than the amount of such expenses.
Appears in 12 contracts
Samples: Servicing Agreement (Ally Auto Assets LLC), Servicing Agreement (Ally Auto Assets LLC), Servicing Agreement (Ally Auto Assets LLC)
Payment and Reimbursement of Liquidation Expenses. (a) In connection with the repossession or sale of any Leased Vehicle, the Servicer shall be entitled, if such Leased Vehicle shall have sustained any damage, to expend funds in connection with any repair or towards the repossession of such Leased Vehicle if it has determined in its discretion that such repair and/or repossession shall increase the proceeds of liquidation of the Leased Vehicle and related Series 20 -SN Lease by an amount greater than the amount of such expenses.
Appears in 2 contracts
Samples: Servicing Agreement (Central Originating Lease Trust), Servicing Agreement (Central Originating Lease Trust)
Payment and Reimbursement of Liquidation Expenses. (a) In connection with the repossession or sale of any Leased Vehicle, the Servicer shall be entitled, if such Leased Vehicle shall have sustained any damage, to expend funds in connection with any repair or towards the repossession of such Leased Vehicle if it has determined in its discretion that such repair and/or repossession shall increase the proceeds of liquidation of the Leased Vehicle and related Series 200_-_ Lease by an amount greater than the amount of such expenses.
Appears in 1 contract
Samples: Colt Servicing Agreement (Central Originating Lease Trust)
Payment and Reimbursement of Liquidation Expenses. (a) In connection with the repossession or sale of any Leased Vehicle, the Servicer shall be entitled, if such Leased Vehicle shall have sustained any damage, to expend funds in connection with any repair or towards the repossession of such Leased Vehicle if it has determined in its discretion that such repair and/or repossession shall increase the proceeds of liquidation of the Leased Vehicle and related Series 2007-SN1 Lease by an amount greater than the amount of such expenses.
Appears in 1 contract
Samples: Sn1 Servicing Agreement (Capital Auto Receivables Asset Trust 2007-Sn1)
Payment and Reimbursement of Liquidation Expenses. (a) In connection with the repossession or sale of any Leased Vehicle, the Servicer shall be entitled, if such Leased Vehicle shall have sustained any damage, to expend funds in connection with any repair or towards the repossession of such Leased Vehicle if it has determined in its discretion that such repair and/or repossession shall increase the proceeds of liquidation of the Leased Vehicle and related Series 2005-SN1 Lease by an amount greater than the amount of such expenses.
Appears in 1 contract
Samples: Sn1 Servicing Agreement (Capital Auto Receivables Asset Trust 2005-Sn1)
Payment and Reimbursement of Liquidation Expenses. (a) In connection with the repossession or sale of any Leased Vehicle, the Servicer shall be entitled, if such Leased Vehicle shall have sustained any damage, to expend funds in connection with any repair or towards the repossession of such Leased Vehicle if it has determined in its discretion that such repair and/or repossession shall increase the proceeds of liquidation of the Leased Vehicle and related Series 200_-__ Lease by an amount greater than the amount of such expenses.
Appears in 1 contract
Samples: Servicing Agreement (Central Originating Lease Trust)
