Common use of Responsibilities of Servicer Clause in Contracts

Responsibilities of Servicer. (a) The Transferor hereby appoints the Servicer, for the benefit of MBIA and the Certificateholders, to act as Servicer of the Lease Assets and as such, the Servicer shall be responsible for, and shall, in accordance with its customary servicing procedures, pursue the managing, servicing, administering, enforcing and making of collections on the Lease Contracts, the Equipment, the Lease Receivables and any Insurance Policies, the enforcement of the Trustee's security interest in the Lease Contracts, Lease Receivables and Equipment conveyed pursuant to the Trust and Security Agreement, and the sale or the releasing of the Equipment upon the expiration or other termination of the related Lease Contract (or repossession thereof without termination), each in accordance with the standards and procedures set forth in this Agreement and any related provisions of the Trust and Security Agreement and Lease Acquisition Agreement. The Servicer's responsibilities shall include monitoring and posting of all payments, responding to inquiries of Customers, investigating delinquencies, accounting for collections and furnishing monthly and annual statements to the Back-up Servicer, the Trustee, MBIA, the Rating Agencies and the Certificateholders with respect to payments under the Lease Contracts, making Servicer Advances, providing appropriate federal income tax information to the Trustee for use in providing information to the Certificateholders or MBIA, collecting and remitting sales and property taxes to taxing authorities, and maintaining the perfected security interest of the Trustee in the Trust Estate. The Servicer (at its expense) shall have full power and authority, acting at its sole discretion, to do any and all things in connection with such managing, servicing, administration, enforcement, collection and such sale of the Equipment that it may deem necessary or desirable, including the prudent delegation of such responsibilities; provided that only with the prior written consent of MBIA shall the Servicer subcontract with another firm to act as subservicer with respect to the Servicer's obligations hereunder and then only so long as the Servicer remains fully responsible and accountable for performance of all obligations of the Servicer hereunder; provided further that the Servicer may subcontract out its remarketing obligations with respect to the Equipment without the consent of MBIA so long as the Servicer remains fully responsible and accountable for the performance of such obligations. Without limiting the generality of the foregoing, the Servicer shall, and is hereby authorized and empowered by the Trustee, subject to Section 3.02 hereof, to execute and deliver (on behalf of itself, the Certificateholders, the Trustee or any of them) any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Lease Contracts and any files or documentation pertaining to the Lease Assets. The Servicer also may, in its sole discretion, waive any late payment charge or penalty, or any other fees that may be collected in the ordinary course of servicing any Lease Contract. Notwithstanding the foregoing, the Servicer shall not, except pursuant to a judicial order from a court of competent jurisdiction, or as otherwise expressly provided in this Agreement, release or waive the right to collect the Scheduled Payments or any unpaid balance on any Lease Contract. The Trustee shall, at the expense of the Servicer, furnish the Servicer with any powers of attorney and other documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder, and the Trustee shall not be responsible for the Servicer's application thereof.

Responsibilities of Servicer. (a) The Transferor hereby appoints the Servicer, for the benefit of MBIA and the CertificateholdersNoteholders, to act as Servicer of the Lease Assets and as such, the Servicer shall be responsible for, and shall, in accordance with its customary servicing procedurespractices, pursue the managing, servicing, administering, enforcing and making of collections on the Lease Contracts, the Equipment, the Lease Receivables and any Insurance PoliciesCredits, the enforcement of the Trustee's security interest in the Lease Contracts, Lease Receivables and Equipment conveyed the Credits granted pursuant to the Trust and Security AgreementIndenture, and and, if applicable, the sale or the releasing resale of the Equipment upon the expiration or other termination of the related Lease Contract (or repossession thereof without termination)Credits, each in accordance with applicable law and the standards and procedures set forth in this Agreement and any related provisions of the Trust and Security Indenture, the Sale Agreement and Lease Acquisition the Receivables Purchase Agreement. The Servicer's responsibilities shall include monitoring collecting and posting of all payments, responding to inquiries of CustomersObligors, investigating delinquencies, accounting for collections and furnishing monthly and annual statements to the Back-up Servicer, the Trustee, MBIA, the Rating Agencies Trustee and the Certificateholders Noteholders with respect to payments under the Lease Contracts, making Servicer Advances, providing appropriate federal income tax information and using its best efforts to the Trustee for use in providing information to the Certificateholders or MBIA, collecting and remitting sales and property taxes to taxing authorities, and maintaining maintain the perfected security interest of the Trustee in each Series Trust Estate (except with respect to the Trust EstateCredits). The Subject to the terms and conditions of this Agreement, the Servicer (at its expense) ), acting alone or through a subservicer, including the Subservicer, shall have full power and authority, acting at its sole discretion, to do any and all things in connection with such managing, servicing, administration, enforcement, collection and such sale resale of the Equipment Credits that it may deem necessary or desirabledesirable and in the best interests of the Noteholders, including the prudent delegation of such responsibilities; provided that only with the prior written consent of MBIA shall the Servicer subcontract with another firm to act as subservicer with respect to the Servicer's obligations hereunder and then only so long as the Servicer remains fully responsible and accountable for performance of all obligations of the Servicer hereunder; provided further that the Servicer may subcontract out its remarketing obligations with respect to the Equipment without the consent of MBIA so long as the Servicer remains fully responsible and accountable for the performance of such obligations. Without limiting the generality of the foregoing, the Servicer Servicer, in its own name or in the name of the Subservicer, shall, and is hereby authorized and empowered by the Trustee, subject to Section 3.02 hereof, to execute and deliver (on behalf of itself, the CertificateholdersNoteholders, the Trustee or any of them) any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Lease Contracts Contracts, the Custodian Files and any files or documentation pertaining the Contract Files. Subject to the Lease Assets. The Servicer terms and conditions of this Agreement, the Servicer, acting alone or through the Subservicer, also may, in its sole discretion, waive any late payment charge or penalty, or any other fees that may be collected in the ordinary course of servicing any Lease Contract. Notwithstanding the foregoing, neither the Servicer shall notServicer, nor the Subservicer, shall, except pursuant to an Upgrade or a judicial order from a court of competent jurisdiction, or as otherwise expressly provided in this Agreement, release or waive the right to collect the Scheduled Payments or any unpaid balance on any Lease Contract. The Trustee shall, at the expense of the Servicer, furnish the Servicer Servicer, or at the request of the Servicer, the Subservicer, with any powers of attorney and other documents necessary or appropriate to enable the Servicer or the Subservicer to carry out its their servicing and administrative duties hereunder, and the Trustee shall not be responsible for the Servicer's or the Subservicer's application thereof. Notwithstanding the appointment by the Servicer of the Subservicer or any delegation of its responsibilities hereunder, the Servicer shall remain primarily liable for the full performance of its obligations hereunder; provided, however, that if the Servicer requests from the Holders the removal of the Subservicer with respect to any Series after the occurrence of a Subservicer Event of Default, or any act or omission that with the passage of time would be a Subservicer Event of Default, and the Holders of 66-2/3% in principal amount of the Notes of the Controlling Class of such Series Outstanding do not consent to such request, the Servicer shall no longer be liable for any subsequent acts of the Subservicer except any acts taken by Sage at the direction of the Servicer.

Responsibilities of Servicer. (a) The Transferor hereby appoints the Servicer, for the benefit of MBIA and the CertificateholdersNoteholders, to act as Servicer of the Lease Assets and as such, the Servicer shall be responsible for, and shall, in accordance with its customary servicing procedurespractices, pursue the managing, servicing, administering, enforcing and making of collections on the Lease Contracts, the Equipment, the Lease Receivables and any Insurance PoliciesVacation Credits, the enforcement of the Trustee's security interest in the Lease Contracts, Lease Receivables and Equipment conveyed the Vacation Credits granted pursuant to the Trust and Security AgreementIndenture, and and, if applicable, the sale or the releasing resale of the Equipment upon the expiration or other termination of the related Lease Contract (or repossession thereof without termination)Vacation Credits, each in accordance with applicable law and the standards and procedures set forth in this Agreement and any related provisions of the Trust Indenture and Security Agreement and Lease Acquisition the Receivables Purchase Agreement. The Servicer's responsibilities shall include monitoring collecting and posting of all payments, responding to inquiries of CustomersObligors, investigating delinquencies, accounting for collections and furnishing monthly and annual statements to the Back-up ServicerTrustee, the Trustee, MBIA, Noteholders and the Rating Agencies and the Certificateholders with respect to payments under the Lease Contracts, making Servicer Advances, providing appropriate federal income tax information and using its best efforts to the Trustee for use in providing information to the Certificateholders or MBIA, collecting and remitting sales and property taxes to taxing authorities, and maintaining maintain the perfected security interest of the Trustee in the Trust EstateEstate (except with respect to the Vacation Credits). The Subject to the terms and conditions of this Agreement, the Servicer (at its expense) ), acting alone or through a subservicer, shall have full power and authority, acting at its sole discretion, to do any and all things in connection with such managing, servicing, administration, enforcement, collection and such sale resale of the Equipment Vacation Credits that it may deem necessary or desirabledesirable and in the best interests of the Noteholders, including the prudent delegation of such responsibilities; provided that only with the prior written consent of MBIA shall the Servicer subcontract with another firm to act as subservicer with respect to the Servicer's obligations hereunder and then only so long as the Servicer remains fully responsible and accountable for performance of all obligations of the Servicer hereunder; provided further that the Servicer may subcontract out its remarketing obligations with respect to the Equipment without the consent of MBIA so long as the Servicer remains fully responsible and accountable for the performance of such obligations. Without limiting the generality of the foregoing, the Servicer Servicer, in its own name, shall, and is hereby authorized and empowered by the Trustee, subject to Section 3.02 hereof, to execute and deliver (on behalf of itself, the CertificateholdersNoteholders, the Trustee or any of them) any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Lease Contracts Contracts, the Collateral Agent Files and any files or documentation pertaining the Contract Files. Subject to the Lease Assets. The Servicer terms and conditions of this Agreement, the Servicer, also may, in its sole discretion, waive any late payment charge or penalty, or any other fees that may be collected in the ordinary course of servicing any Lease Contract. Notwithstanding the foregoing, the Servicer Servicer, shall not, except pursuant to a judicial order from a court of competent jurisdiction, or as otherwise expressly provided in this Agreement, release or waive the right to collect the Scheduled Payments or any unpaid balance on any Lease Contract. The Trustee shall, at the expense of the Servicer, furnish the Servicer Servicer, or at the request of the Servicer, with any powers of attorney and other documents necessary or appropriate to enable the Servicer to carry out its their servicing and administrative duties hereunder, and the Trustee shall not be responsible for the Servicer's application thereof. Notwithstanding any delegation of its responsibilities hereunder, the Servicer shall remain primarily liable for the full performance of its obligations hereunder.

Responsibilities of Servicer. (a) The Transferor hereby appoints the Servicer, for the benefit of MBIA and the CertificateholdersNoteholders, to act as Servicer of the Lease Assets and as such, the Servicer shall be responsible for, and shall, in accordance with its customary servicing procedurespractices, pursue the managing, servicing, administering, enforcing and making of collections on the Lease Contracts, Contracts and the Equipment, the Lease Receivables and any Insurance PoliciesRelated Security, the enforcement of the Trustee's security interest in the Lease Contracts, Lease Receivables and Equipment conveyed the Related Security granted pursuant to the Trust and Security AgreementIndenture, and and, if applicable, the sale or the releasing resale of the Equipment upon the expiration or other termination of the related Lease Contract (or repossession thereof without termination)Related Security, each in accordance with applicable law and the standards and procedures set forth in this Agreement and any related provisions of the Trust Indenture and Security Agreement and Lease Acquisition the Receivables Purchase Agreement. The Servicer's responsibilities shall include monitoring collecting and posting of all payments, responding to inquiries of CustomersObligors, investigating delinquencies, accounting for collections and furnishing monthly and annual statements to the Back-up ServicerTrustee, the Trustee, MBIA, Noteholders and the Rating Agencies and the Certificateholders with respect to payments under the Lease Contracts, making Servicer Advances, providing appropriate federal income tax information and using its best efforts to the Trustee for use in providing information to the Certificateholders or MBIA, collecting and remitting sales and property taxes to taxing authorities, and maintaining maintain the perfected security interest of the Trustee in the Trust EstateEstate (except with respect to the Vacation Credits). The Subject to the terms and conditions of this Agreement, the Servicer (at its expense) ), acting alone or through a subservicer, shall have full power and authority, acting at its sole discretion, to do any and all things in connection with such managing, servicing, administration, enforcement, collection and such sale resale of the Equipment Related Security that it may deem necessary or desirabledesirable and in the best interests of the Noteholders, including the prudent delegation of such responsibilities; provided that only with the prior written consent of MBIA shall the Servicer subcontract with another firm to act as subservicer with respect to the Servicer's obligations hereunder and then only so long as the Servicer remains fully responsible and accountable for performance of all obligations of the Servicer hereunder; provided further that the Servicer may subcontract out its remarketing obligations with respect to the Equipment without the consent of MBIA so long as the Servicer remains fully responsible and accountable for the performance of such obligations. Without limiting the generality of the foregoing, the Servicer Servicer, in its own name, shall, and is hereby authorized and empowered by the Trustee, subject to Section 3.02 hereof, to execute and deliver (on behalf of itself, the CertificateholdersNoteholders, the Trustee or any of them) any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Lease Contracts Contracts, the Mortgage Notes, the Custodian Files and any files or documentation pertaining the Contract Files. Subject to the Lease Assets. The Servicer terms and conditions of this Agreement, the Servicer, also may, in its sole discretion, waive any late payment charge or penalty, or any other fees that may be collected in the ordinary course of servicing any Lease Contract. Notwithstanding the foregoing, the Servicer Servicer, shall not, except pursuant to a judicial order from a court of competent jurisdiction, or as otherwise expressly provided in this Agreement, release or waive the right to collect the Scheduled Payments or any unpaid balance on any Lease Contract. The Trustee shall, at the expense of the Servicer, furnish the Servicer Servicer, or at the request of the Servicer, with any powers of attorney and other documents necessary or appropriate to enable the Servicer to carry out its their servicing and administrative duties hereunder, and the Trustee shall not be responsible for the Servicer's application thereof. Notwithstanding any delegation of its responsibilities hereunder, the Servicer shall remain primarily liable for the full performance of its obligations hereunder.

Responsibilities of Servicer. (a) The Transferor Issuer hereby appoints the Servicer, for the benefit of MBIA the Issuer, the Note Insurer and the CertificateholdersNoteholders, to act as Servicer of the Lease Contract Assets and and, as such, the Servicer shall be responsible for, and shall, in accordance with its customary servicing proceduresprocedures and Section 3.02 hereof, pursue the managingmanage, servicingservice, administeringadminister, enforcing enforce and making of make collections on the Lease Contracts, the Equipment, the Lease Receivables and any Insurance Policies, defend the enforcement of the Indenture Trustee's security interest in the Lease Contracts, Lease Receivables and Equipment conveyed and other Collateral Granted pursuant to the Trust and Security AgreementIndenture against adverse claims, and the sale sell or the releasing of re-lease the Equipment upon the expiration or other termination of the related Lease Contract (or repossession thereof without termination), each in accordance with the standards and procedures set forth in this Agreement and any related provisions of the Trust Indenture and Security Agreement and Lease Contract Acquisition Agreement. The Servicer's responsibilities shall include monitoring and posting of all payments, responding to inquiries of Customers, investigating delinquencies, accounting for collections and furnishing monthly and annual statements to the Back-up Servicer, the Indenture Trustee, MBIAthe Note Insurer, the Rating Agencies and the Certificateholders Noteholders with respect to payments under the Lease ContractsReceivables, making Servicer Advances, providing appropriate federal income tax information to the Indenture Trustee for use in providing information to the Certificateholders Noteholders or MBIAthe Note Insurer, collecting and remitting sales and property taxes to taxing authorities, and maintaining the perfected security interest of the Indenture Trustee in the Trust Estate. The Servicer (at its expense) shall have full power and authority, acting at its sole discretion, to do any and all things in connection with such managing, servicing, administration, enforcement, enforcement and collection and such sale of the Equipment that it may deem necessary or desirable, including the prudent delegation of such responsibilities; provided that only with the prior written consent of MBIA shall the Servicer subcontract with another firm to act as subservicer with respect to the Servicer's obligations hereunder and then only so long as the Servicer remains fully responsible and accountable for performance of all obligations of the Servicer hereunder; provided further that the Servicer may subcontract out its remarketing obligations with respect to the Equipment without the consent of MBIA so long as the Servicer remains fully responsible and accountable for the performance of such obligations. Without limiting the generality of the foregoing, the Servicer shall, and is hereby authorized and empowered by the Indenture Trustee, subject to Section 3.02 hereof, to execute and deliver (on behalf of itself, the CertificateholdersNoteholders, the Indenture Trustee or any of them) any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Lease Contracts and any files or documentation pertaining to the Lease Contract Assets. The Servicer also may, in its sole discretion, waive any late payment charge or penalty, or any other fees that may be collected in the ordinary course of servicing any Lease Contract. Notwithstanding the foregoing, the Servicer shall not, except pursuant to a judicial order from a court of competent jurisdiction, or as otherwise expressly provided in this Agreement, release or waive the right to collect the Scheduled Payments (including periodic payments accrued under the terms of any Contract during the first 12 months following the Final Due Date of such Contract) or any unpaid balance on any Lease Contract. The Issuer and the Indenture Trustee shall, at the expense of the Servicer, furnish the Servicer with any powers of attorney and other documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder, and the Issuer and the Indenture Trustee shall not be responsible for the Servicer's application thereof.

Responsibilities of Servicer. (a) The Transferor hereby appoints the Servicer, for the benefit of MBIA and the CertificateholdersNoteholders, to act as Servicer of the Lease Assets and as such, the Servicer shall be responsible for, and shall, in accordance with its customary servicing proceduresprocedure, pursue the managing, servicing, administering, enforcing and making of collections on the Lease Contracts, the EquipmentLease Receivables, the Lease Receivables Equipment and any Insurance Policies, the enforcement of the Trustee's security interest in the Lease Contracts, the Lease Receivables and Equipment conveyed granted pursuant to the Trust and Security AgreementIndenture, and and, if applicable, the sale or the releasing re-leasing of the Equipment upon the expiration or other termination of the related Lease Contract (or repossession thereof without termination), each in accordance with applicable law and the standards and procedures set forth in this Agreement and any related provisions of the Trust Indenture and Security Agreement and Lease Acquisition the Contribution Agreement. The Servicer's responsibilities shall include monitoring collecting and posting of all payments, responding to inquiries of Customers, investigating delinquencies, accounting for collections and furnishing monthly and annual statements to the Back-up Servicer, the Trustee, MBIA, the Rating Agencies Trustee and the Certificateholders Noteholders with respect to payments under the Lease Contractspayments, making Servicer Advances, providing appropriate federal income tax information Advances and using its best efforts to the Trustee for use in providing information to the Certificateholders or MBIA, collecting and remitting sales and property taxes to taxing authorities, and maintaining maintain the perfected security interest of the Trustee in the Trust Estate. The Subject to the terms and conditions of this Agreement, the Servicer (at its expense) ), acting alone or through a subservicer, shall have full power and authority, acting at its sole discretion, to do any and all things in connection with such managing, servicing, administration, enforcement, collection and such repossession and sale of the Equipment that it may deem necessary or desirabledesirable and in the best interests of the Noteholders, including the prudent delegation of such responsibilities; provided that only with the prior written consent of MBIA shall the Servicer subcontract with another firm to act as subservicer with respect to the Servicer's obligations hereunder and then only so long as the Servicer remains fully responsible and accountable for performance of all obligations of the Servicer hereunder; provided further that the Servicer may subcontract out its remarketing obligations with respect to the Equipment without the consent of MBIA so long as the Servicer remains fully responsible and accountable for the performance of such obligations. Without limiting the generality of the foregoing, the Servicer Servicer, in its own name or in the name of a subservicer, shall, and is hereby authorized and empowered by the Trustee in the Trustee's role as secured party, subject to Section 3.02 hereof, to execute and deliver (on behalf of itself, the CertificateholdersNoteholders, the Trustee or any of them) any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Lease Contracts and any files or documentation pertaining the Lease Contract Files, in accordance with the Transaction Documents. Subject to the Lease Assets. The Servicer terms and conditions of this Agreement, the Servicer, acting alone or through a subservicer, also may, in its sole discretion, waive any late payment charge or penalty, or any other fees that may be collected in the ordinary course of servicing any Lease Contract. Notwithstanding the foregoing, neither the Servicer shall notServicer, nor any subservicer, shall, except pursuant to a judicial order from a court of competent jurisdiction, or as otherwise expressly provided in this Agreement, release or waive the right to collect the Scheduled Payments or any unpaid balance on any Lease Contract, except with respect to any Lease Contact which is entered into in order to re-lease Equipment relating to an expired Lease Contract, in which case the Servicer may terminate such re-lease lease contract if the Servicer enters into a new re-lease contract, receives the related Equipment back or receives a payment equal to the fair market value of such Equipment from the lessee. The Servicer shall remarket Equipment for which any Lease Contract has expired in a manner consistent with the standard of care set forth in Section 3.02. The Trustee shall, at the expense of the Servicer, furnish the Servicer Servicer, or at the request of the Servicer, any subservicer, with any powers of attorney and other documents necessary or appropriate to enable the Servicer or subservicer to carry out its servicing and administrative duties hereunder, and the Trustee shall not be responsible for the Servicer's or subservicer's application or use thereof. Notwithstanding the appointment by the Servicer of a subservicer hereunder, the Servicer shall remain primarily liable for the full performance of its obligations hereunder.

Responsibilities of Servicer. (a) The Transferor hereby appoints the Servicer, for the benefit of MBIA and the CertificateholdersNoteholders, to act as Servicer of the Lease Assets and as such, the Servicer shall be responsible for, and shall, in accordance with its customary servicing procedures, pursue the managing, servicing, administering, enforcing and making of collections on the Lease Loan Contracts, the Equipment, the Lease Receivables Vehicles and any Insurance Policies, the enforcement of the Indenture Trustee's security interest in the Lease Contracts, Lease Receivables Loan Contracts and Equipment conveyed the Vehicles Granted and assigned pursuant to the Trust and Security AgreementIndenture, and the sale or the releasing and repossession of the Equipment a Vehicle upon the expiration or other termination default of the related Lease Loan Contract (or repossession thereof without termination)and the enforcement of all other remedies under the Loan Contracts, each in accordance with the standards and procedures set forth in this Servicing Agreement and any related provisions of the Trust Indenture and Security Agreement and Lease Acquisition the Loan Sale Agreement. The Servicer's responsibilities shall include monitoring collecting and posting of all payments, responding to inquiries of CustomersObligors, investigating delinquencies, sending payment statements to Obligors, complying with the terms of the Lockbox Agreement, accounting for collections and furnishing monthly and annual statements to the Back-up Servicer, the Indenture Trustee, MBIA, the Rating Agencies and the Certificateholders Noteholders with respect to payments under the Lease Contracts, making Servicer Advancespayments, providing appropriate federal income tax information to the Indenture Trustee for use in providing information to the Certificateholders Noteholders or MBIA, collecting and remitting sales and property taxes to taxing authoritiesmaintaining Insurance Policies, and maintaining the perfected security interest of the Indenture Trustee in the Trust Estate. The Servicer (at its expense) ), acting alone or through a Sub-Servicer, shall have full power and authority, acting at its sole discretion, to do any and all things in connection with such managing, servicing, administration, enforcement, collection and such sale of the Equipment Vehicles that it may deem necessary or desirable, including the prudent delegation of such responsibilities; provided that only with the prior written consent of MBIA shall the Servicer subcontract with another firm to act as subservicer with respect to the Servicer's obligations hereunder and then only so long as the Servicer remains fully responsible and accountable for performance of all obligations of the Servicer hereunder; provided further that the Servicer may subcontract out its remarketing obligations with respect to the Equipment without the consent of MBIA so long as the Servicer remains fully responsible and accountable for the performance of such obligations. Without limiting the generality of the foregoing, the Servicer Servicer, in its own name or in the name of a Sub-Servicer, shall, and is hereby authorized and empowered by the Indenture Trustee, subject to Section 3.02 hereof, to execute and deliver (on behalf of itself, the CertificateholdersNoteholders, the Indenture Trustee or any of them) any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Lease Loan Contracts and any files or documentation pertaining to the Lease Loan Assets. The Servicer Servicer, acting alone or through a Sub-Servicer, also may, in its sole discretion, waive any late payment charge or penalty, or any other collection fees that may be collected payable in the ordinary course of servicing any Lease Loan Contract. Notwithstanding the foregoing, neither the Servicer shall notServicer, nor any Sub-Servicer, shall, except pursuant to a judicial order from a court of competent jurisdiction, or as otherwise expressly provided in this Servicing Agreement, release or waive the right to collect the Scheduled Payments or any unpaid balance on any Lease Loan Contract. The Indenture Trustee shall, at the expense of the Servicer, furnish the Servicer Servicer, or at the request of the Servicer, any Sub-Servicer, with any powers of attorney and other documents necessary or appropriate to enable the Servicer or Sub-Servicer to carry out its servicing and administrative duties hereunder, and the Indenture Trustee shall not be responsible for the Servicer's or Sub-Servicer's application thereof. Notwithstanding the appointment by the Servicer of a Sub-Servicer hereunder, the Servicer shall remain primarily liable for the full performance of its obligations hereunder.

Responsibilities of Servicer. (a) The Transferor hereby appoints the Servicer, for the benefit of MBIA and the CertificateholdersNoteholders, to act as Servicer of the Lease Assets and as such, the Servicer shall be responsible for, and shall, in accordance with its customary servicing procedures, pursue the managing, servicing, administering, enforcing and making of collections on the Lease Contracts, the Equipment, the Lease Receivables Equipment and any Insurance Policies, the enforcement of the Indenture Trustee's security interest in the Lease Contracts, Lease Receivables and Equipment conveyed granted pursuant to the Trust and Security AgreementIndenture, and the sale or the releasing of the Equipment upon the expiration or other termination of the related Lease Contract (or repossession thereof without termination), each in accordance with the standards and procedures set forth in this the Servicing Agreement and any related provisions of the Trust and Security Agreement Indenture and Lease Acquisition Agreement. The Servicer's responsibilities shall include monitoring collecting and posting of all payments, responding to inquiries of Customers, investigating delinquencies, accounting for collections and furnishing monthly and annual statements to the Back-up Servicer, the Indenture Trustee, MBIA, the Rating Agencies and the Certificateholders Noteholders with respect to payments under the Lease Contractspayments, making Servicer Advances, providing appropriate federal income tax information to the Indenture Trustee for use in providing information to the Certificateholders Noteholders or MBIA, collecting and remitting sales and property taxes to taxing authorities, and maintaining using its best efforts to maintain the perfected security interest of the Indenture Trustee in the Trust Estate. The Servicer (at its expense) ), acting alone or through a subservicer, shall have full power and authority, acting at its sole discretion, to do any and all things in connection with such managing, servicing, administration, enforcement, collection and such sale of the Equipment that it may deem necessary or desirable, including the prudent delegation of such responsibilities; provided that only with the prior written consent of MBIA shall the Servicer subcontract with another firm to act as subservicer with respect to the Servicer's obligations hereunder and then only so long as the Servicer remains fully responsible and accountable for performance of all obligations of the Servicer hereunder; provided further that the Servicer may subcontract out its remarketing obligations with respect to the Equipment without the consent of MBIA so long as the Servicer remains fully responsible and accountable for the performance of such obligations. Without limiting the generality of the foregoing, the Servicer Servicer, in its own name or in the name of a subservicer, shall, and is hereby authorized and empowered by the Indenture Trustee, subject to Section 3.02 hereof, hereof to execute and deliver (on behalf of itself, the CertificateholdersNoteholders, the Indenture Trustee or any of them) any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Lease Contracts and any files or documentation pertaining to the Lease Assets. With the prior written consent of MBIA (which consent shall not be unreasonably withheld), the Servicer may subcontract with another firm to act as subservicer that is not acting as a subservicer on the Initial Delivery Date so long as the Servicer remains fully responsible and accountable for performance of all obligations of the Servicer. The Servicer Servicer, acting alone or through a subservicer, also may, in its sole discretion, waive any late payment charge or penalty, or any other fees that may be collected in the ordinary course of servicing any Lease Contract. Notwithstanding the foregoing, neither the Servicer shall notServicer, nor any subservicer, shall, except pursuant to a judicial fudicial order from a court of competent jurisdiction, or as otherwise expressly provided in this the Servicing Agreement, release or waive the right to collect the Scheduled Payments or any unpaid balance on any Lease Contract. The Indenture Trustee shall, at the expense of the Servicer, furnish the Servicer Servicer, or at the request of the Servicer, any subservicer, with any powers of attorney and other documents necessary or appropriate to enable the Servicer or subservicer to carry out its servicing servicing, and administrative duties hereunder, and the Indenture Trustee shall not net be responsible for the Servicer's or subservicer's application thereof.. Notwithstanding the appointment by the Servicer of a subservicer hereunder, the Servicer shall remain primarily liable for the full performance of its obligations hereunder. 4

Responsibilities of Servicer. (a) The Transferor hereby appoints the Servicer, for the benefit of MBIA and the Certificateholders, to act as Servicer of the Lease Assets Bond Insurer and as suchthe Trustee, the Servicer shall be responsible for, and shall, in accordance with its customary servicing proceduresprocedure, pursue the managing, servicing, administering, enforcing and making of collections on the Lease Contracts, the Equipment, the Lease Receivables Leased Vehicles and any Insurance Policies, the enforcement of the Trustee's security interest in the Lease Contracts, Lease Receivables Receivables, Equipment and Equipment conveyed Leased Vehicles granted pursuant to the Trust and Security Agreement, and the sale or the releasing of the Equipment and Leased Vehicles upon the expiration or other termination of the related Lease Contract (or repossession thereof without termination), each in accordance with the standards and procedures set forth in this Agreement and any related provisions of the Trust and Security Agreement and Lease Acquisition Contribution Agreement. The Servicer's responsibilities shall include monitoring collecting and posting of all payments, responding to inquiries of Customers, investigating delinquencies, accounting for collections and furnishing monthly and annual statements to the Back-up Servicer, the Trustee, MBIAthe Bond Insurer, the Rating Agencies and the Certificateholders with respect to payments under the Lease Contractspayments, making Servicer Advances, providing appropriate federal income tax information to the Trustee for use in providing information to the Certificateholders or MBIAthe Bond Insurer, collecting and remitting sales and property taxes to taxing authorities, and maintaining using its best efforts to maintain the perfected security interest of the Trustee in the Trust EstateProperty. The Servicer (at its expense) ), acting alone or through a subservicer, shall have full power and authority, acting at its sole discretion, to do any and all things in connection with such managing, servicing, administration, enforcement, collection and such sale of the Equipment and Leased Vehicles that it may deem necessary or desirable, including the prudent delegation of such responsibilities; provided that only with the prior written consent of MBIA shall the Servicer subcontract with another firm to act as subservicer with respect to the Servicer's obligations hereunder and then only so long as the Servicer remains fully responsible and accountable for performance of all obligations of the Servicer hereunder; provided further that the Servicer may subcontract out its remarketing obligations with respect to the Equipment without the consent of MBIA so long as the Servicer remains fully responsible and accountable for the performance of such obligations. Without limiting the generality of the foregoing, the Servicer Servicer, in its own name or in the name of a subservicer, shall, and is hereby authorized and empowered by the Trustee, subject to Section 3.02 hereof, to execute and deliver (on behalf of itself, the Certificateholders, the Trustee or any of them) any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Lease Contracts and any files or documentation pertaining to the Lease AssetsContract Files. The Servicer Servicer, acting alone or through a subservicer, also may, in its sole discretion, waive any late payment charge or penalty, or any other fees that may be collected in the ordinary course of servicing any Lease Contract. Notwithstanding the foregoing, the Servicer shall not, except pursuant to a judicial order from a court of competent jurisdiction, or as otherwise expressly provided in this Agreement, release or waive the right to collect the Scheduled Payments or any unpaid balance on any Lease Contract. The Trustee shall, at the expense of neither the Servicer, furnish the Servicer with any powers of attorney and other documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder, and the Trustee shall not be responsible for the Servicer's application thereof.nor any

Responsibilities of Servicer. (a) The Transferor hereby appoints the Servicer, for the benefit of MBIA and the CertificateholdersNoteholders, to act as Servicer of the Lease Assets and as such, the Servicer shall be responsible for, and shall, in accordance with its customary servicing procedurespractices, pursue the managing, servicing, administering, enforcing and making of collections on the Lease Contracts, Contracts and the Equipment, the Lease Receivables and any Insurance PoliciesRelated Security, the enforcement of the Trustee's security interest in the Lease Contracts, Lease Receivables and Equipment conveyed the Related Security granted pursuant to the Trust and Security AgreementIndenture, and and, if applicable, the sale or the releasing resale of the Equipment upon the expiration or other termination of the related Lease Contract (or repossession thereof without termination)Related Security, each in accordance with applicable law and the standards and procedures set forth in this Agreement and any related provisions of the Trust Indenture and Security Agreement and Lease Acquisition the Receivables Purchase Agreement. The Servicer's responsibilities shall include monitoring collecting and posting of all payments, responding to inquiries of CustomersObligors, investigating delinquencies, accounting for collections and furnishing monthly and annual statements to the Back-up ServicerTrustee, the Trustee, MBIA, Noteholders and the Rating Agencies and the Certificateholders with respect to payments under the Lease Contracts, making Servicer Advances, providing appropriate federal income tax information and using its best efforts to the Trustee for use in providing information to the Certificateholders or MBIA, collecting and remitting sales and property taxes to taxing authorities, and maintaining maintain the perfected security interest of the Trustee in those items of the Trust EstateEstate in which the Trustee has a perfected security interest. The Subject to the terms and conditions of this Agreement, the Servicer (at its expense) ), acting alone or through a subservicer, shall have full power and authority, acting at its sole discretion, to do any and all things in connection with such managing, servicing, administration, enforcement, collection and such sale resale of the Equipment Related Security that it may deem necessary or desirabledesirable and in the best interests of the Noteholders, including the prudent delegation of such responsibilities; provided that only with the prior written consent of MBIA shall the Servicer subcontract with another firm to act as subservicer with respect to the Servicer's obligations hereunder and then only so long as the Servicer remains fully responsible and accountable for performance of all obligations of the Servicer hereunder; provided further that the Servicer may subcontract out its remarketing obligations with respect to the Equipment without the consent of MBIA so long as the Servicer remains fully responsible and accountable for the performance of such obligations. Without limiting the generality of the foregoing, the Servicer Servicer, in its own name, shall, and is hereby authorized and empowered by the Trustee, subject to Section 3.02 hereof, to execute and deliver (on behalf of itself, the CertificateholdersNoteholders, the Trustee or any of them) any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Lease Contracts Contracts, the Mortgage Notes, the Custodian Files and any files or documentation pertaining the Contract Files. Subject to the Lease Assets. The Servicer terms and conditions of this Agreement, the Servicer, also may, in its sole discretion, waive any late payment charge or penalty, or any other fees that may be collected in the ordinary course of servicing any Lease Contract. Notwithstanding the foregoing, the Servicer Servicer, shall not, except pursuant to a judicial order from a court of competent jurisdiction, or as otherwise expressly provided in this Agreement, release or waive the right to collect the Scheduled Payments or any unpaid balance on any Lease Contract. The Trustee shall, at the request and expense of the Servicer, furnish the Servicer Servicer, with any powers of attorney and other documents necessary or appropriate to enable the Servicer to carry out its their servicing and administrative duties hereunder, and the Trustee shall not be responsible for the Servicer's application thereof. Notwithstanding any delegation of its responsibilities hereunder, the Servicer shall remain primarily liable for the full performance of its obligations hereunder.

Responsibilities of Servicer. (a) The Transferor hereby appoints the Servicer, for the benefit of MBIA the Noteholders and the CertificateholdersIndenture Trustee, to act as Servicer of the Lease Assets and as such, the Servicer shall be responsible for, and shall, in accordance with its customary servicing proceduresprocedure, pursue the managing, servicing, administering, enforcing and making of collections on the Lease Contracts, the Equipment, the Lease Receivables Equipment and any Insurance Policies, the enforcement of the TrusteeTrust's security interest in the Lease Contractscontracts, Lease Receivables and Equipment conveyed granted pursuant to the Trust and Security AgreementIndenture, and the sale or the releasing of the Equipment upon the expiration or other termination of the related Lease Contract (or repossession thereof without termination), each in accordance with the standards and procedures set forth in this Agreement and any related provisions of the Trust Indenture and Security Agreement and Lease Acquisition Contribution Agreement. The Servicer's responsibilities shall include monitoring collecting and posting of all payments, responding to inquiries of Customers, investigating delinquencies, accounting for collections and furnishing monthly and annual statements to the Back-up Servicer, the Indenture Trustee, MBIAthe Bond Insurer, the Rating Agencies and the Certificateholders Noteholders with respect to payments under the Lease Contractspayments, making Servicer Advances, providing appropriate federal income tax information to the Indenture Trustee for use in providing information to the Certificateholders Noteholders or MBIAthe Bond Insurer, collecting and remitting sales and property taxes to taxing authorities, and maintaining using its best efforts to maintain the perfected security interest of the Indenture Trustee in the Trust Estate. The Servicer (at its expense) ), acting alone or through a subservicer, shall have full power and authority, acting at its sole discretion, to do any and all things in connection with such managing, servicing, administration, enforcement, collection and such sale of the Equipment that it may deem necessary or desirable, including the prudent delegation of such responsibilities; provided that only with the prior written consent of MBIA shall the Servicer subcontract with another firm to act as subservicer with respect to the Servicer's obligations hereunder and then only so long as the Servicer remains fully responsible and accountable for performance of all obligations of the Servicer hereunder; provided further that the Servicer may subcontract out its remarketing obligations with respect to the Equipment without the consent of MBIA so long as the Servicer remains fully responsible and accountable for the performance of such obligations. Without limiting the generality of the foregoing, the Servicer Servicer, in its own name or in the name of a subservicer, shall, and is hereby authorized and empowered by the Indenture Trustee, subject to Section 3.02 hereof, to execute and deliver (on behalf of itself, the CertificateholdersNoteholders, the Indenture Trustee or any of them) any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Lease Contracts and any files or documentation pertaining to the Lease AssetsFiles. The Servicer Servicer, acting alone or through a subservicer, also may, in its sole discretion, waive any late payment charge or penalty, or any other fees that may be collected in the ordinary course of servicing any Lease Contract. Notwithstanding the foregoing, neither the Servicer shall notServicer, nor any subservicer, shall, except pursuant to a judicial order from a court of competent jurisdiction, or as otherwise expressly provided in this Agreement, release or waive the right to collect the Scheduled Payments or any unpaid balance on any Lease Contract. The Indenture Trustee shall, at the expense of the Servicer, furnish the Servicer Servicer, or at the request of the Servicer, any subservicer, with any powers of attorney and other documents necessary or appropriate to enable the Servicer or subservicer to carry out its servicing and administrative duties hereunder, and the Indenture Trustee shall not be responsible for the Servicer's or subservicer's application thereof.. Notwithstanding the

Responsibilities of Servicer. (a) The Transferor hereby appoints the Servicer, for the benefit of MBIA LFC VI, the Issuer and the CertificateholdersNoteholders, to act as Servicer of the Lease Assets and as such, the Servicer shall be responsible for, and shall, in accordance with its customary servicing procedures, pursue the managing, servicing, administering, enforcing and making of collections on the Lease Contracts, the Equipment, the Lease Receivables and any Insurance PoliciesAssets, the enforcement of the Indenture Trustee's security interest in the Lease Contracts, Lease Receivables and Equipment conveyed Assets granted pursuant to the Trust and Security AgreementIndenture, and the sale or the releasing of the Equipment upon the expiration or other termination of the related Lease Contract (or repossession thereof without termination), each in accordance with the standards and procedures set forth in this Agreement and any related provisions of the Trust and Security Agreement and Lease Acquisition Agreementother Transaction Documents. The Servicer's responsibilities shall include monitoring and posting of all payments, responding to inquiries of CustomersObligors, investigating delinquencies, accounting for collections and furnishing monthly and annual statements to the Back-up Servicer, the Trustee, MBIA, the Rating Agencies Indenture Trustee and the Certificateholders Noteholders with respect to payments under the Lease Contractspayments, making Servicer Advances, providing appropriate federal income tax information to the Indenture Trustee for use in providing information to the Certificateholders or MBIANoteholders, collecting and remitting sales and property taxes to taxing authorities, and maintaining using its best efforts to maintain the perfected security interest of the Indenture Trustee in the Trust Estate. The Servicer (at its expense) ), acting alone or through a subservicer, shall have full power and authority, acting at its sole discretion, to do any and all things in connection with such managing, servicing, administration, enforcement, collection and such sale of the Equipment that it may deem necessary or desirable, including the prudent delegation of such responsibilities; provided that only with the prior written consent of MBIA shall the Servicer subcontract with another firm to act as subservicer with respect to the Servicer's obligations hereunder and then only so long as the Servicer remains fully responsible and accountable for performance of all obligations of the Servicer hereunder; provided further that the Servicer may subcontract out its remarketing obligations with respect to the Equipment without the consent of MBIA so long as the Servicer remains fully responsible and accountable for the performance of such obligations. Without limiting the generality of the foregoing, the Servicer Servicer, in its own name or in the name of a subservicer, shall, and is hereby authorized and empowered by the Indenture Trustee, subject to Section 3.02 hereof, to execute and deliver (on behalf of itself, the CertificateholdersNoteholders, the Indenture Trustee or any of them) any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Lease Contracts and any files or documentation pertaining to the Lease Assets. The Servicer Servicer, acting alone or through a subservicer, also may, in its sole discretion, waive any late payment charge or penalty, Servicing Charges or any other fees that may be collected in the ordinary course of servicing any Lease ContractAsset. Notwithstanding the foregoing, neither the Servicer shall notServicer, nor any subservicer, shall, except pursuant to a judicial order from a court of competent jurisdiction, in connection with a permitted repurchase under the Transaction Documents or as otherwise expressly provided in this Agreement, release or waive the right to collect the Scheduled Payments or any unpaid balance on any Lease ContractContract or Lease Receivable. The Indenture Trustee shall, at the expense of the Servicer, furnish the Servicer Servicer, or at the request of the Servicer, any subservicer, with any powers of attorney and other documents necessary or appropriate to enable the Servicer or subservicer to carry out its servicing and administrative duties hereunder, and the Indenture Trustee shall not be responsible for the Servicer's or subservicer's application thereof. Notwithstanding the appointment by the Servicer of a subservicer hereunder, the Servicer shall remain liable for the full performance of its obligations hereunder.

Responsibilities of Servicer. (a) The Transferor Issuer hereby appoints the Servicer, for the benefit of MBIA the Issuer and the CertificateholdersNoteholders, to act as Servicer of the Lease Contract Assets and and, as such, the Servicer shall be responsible for, and shall, in accordance with its customary servicing proceduresprocedures and Section 3.02 hereof, pursue the managingmanage, servicingservice, administeringadminister, enforcing enforce and making of make collections on the Lease Contracts, the Equipment, the Lease Receivables and any Insurance Policies, defend the enforcement of the Indenture Trustee's security interest in the Lease Contracts, Lease Receivables and Equipment conveyed and other Collateral Granted pursuant to the Trust and Security AgreementIndenture against adverse claims, and the sale sell or the releasing of re-lease the Equipment upon the expiration or other termination of the related Lease Contract (or repossession thereof without termination), each in accordance with the standards and procedures set forth in this Agreement and any related provisions of the Trust Indenture and Security Agreement and Lease Contract Acquisition Agreement. The Servicer's responsibilities shall include monitoring and posting of all payments, responding to inquiries of Customers, investigating delinquencies, accounting for collections and furnishing monthly and annual statements to the Back-up Servicer, the Indenture Trustee, MBIA, the Rating Agencies and the Certificateholders Noteholders with respect to payments under the Lease ContractsReceivables, verifying, monitoring and enforcing the acquisition and maintenance of customers' insurance policies relating to the Equipment (or charging and collecting a loss and damage waiver fee in lieu thereof), providing replacement Equipment to Customers upon loss or destruction thereof, making Servicer Advances, providing appropriate federal federal, state and local income tax information to the Indenture Trustee for use in providing information to the Certificateholders or MBIANoteholders, collecting and remitting sales and property taxes to taxing authorities, and maintaining the perfected security interest of the Indenture Trustee in the Trust Estate. The Servicer (at its expense) shall have full power and authority, acting at its sole discretion, to do any and all things in connection with such managing, servicing, administration, enforcement, enforcement and collection and such sale of the Equipment that it may deem necessary or desirable, including the prudent delegation of such responsibilities; provided that only with the prior written consent of MBIA shall the Servicer subcontract with another firm to act as subservicer with respect to the Servicer's obligations hereunder and then only so long as the Servicer remains fully responsible and accountable for performance of all obligations of the Servicer hereunder; provided further that the Servicer may subcontract out its remarketing obligations with respect to the Equipment without the consent of MBIA so long as the Servicer remains fully responsible and accountable for the performance of such obligations. Without limiting the generality of the foregoing, the Servicer shall, and is hereby authorized and empowered by the Indenture Trustee, subject to Section 3.02 hereof, to execute and deliver (on behalf of itself, the CertificateholdersNoteholders, the Indenture Trustee or any of them) any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Lease Contracts and any files or documentation pertaining to the Lease Contract Assets. The Servicer also may, in its sole discretion, waive any late payment charge or penalty, or any other fees that may be collected in the ordinary course of servicing any Lease Contract. Notwithstanding the foregoing, the Servicer shall not, except pursuant to a judicial order from a court of competent jurisdiction, or as otherwise expressly provided in this Agreement, release or waive the right to collect the Scheduled Payments (including periodic payments accrued under the terms of any Contract during the first 12 months following the Final Due Date of such Contract) or any unpaid balance on any Lease Contract. The Issuer and the Indenture Trustee shall, at the expense of the Servicer, furnish the Servicer with any powers of attorney and other documents necessary or appropriate to enable the Servicer to carry out its servicing and administrative duties hereunder, and the Issuer and the Indenture Trustee shall not be responsible for the Servicer's application thereof.