Common use of Servicing Compensation; Fees, Costs and Expenses Clause in Contracts

Servicing Compensation; Fees, Costs and Expenses. (a) As compensation for the performance of its obligations under this Agreement and subject to the terms of this Section and the terms of any applicable SUBI Servicing Agreement Supplement, the Servicer shall be entitled to receive from the Trust, a fee (the "Servicing Fee") equal to: (i) With respect to each SUBI Portfolio, the amount set forth in the related SUBI Servicing Agreement Supplement; and (ii) With respect to each UTI Portfolio, such amount as shall be agreed from time to time between the holder of the UTI and the Servicer. The Servicer shall pay all expenses of the Trust and all expenses incurred by it in connection with its servicing activities hereunder, including the costs of any separate trustee or co-trustee appointed by a Trustee pursuant to Section 5.7 of the Trust Agreement, and shall not be entitled to reimbursement of such expense. Notwithstanding anything contained in the foregoing sentence to the contrary, the Servicer shall not be liable to pay the expenses of the Trust or expenses incurred by the Servicer which constitute Liquidation Expenses, losses with respect to Trust Assets or expenses recoverable under an applicable Insurance Policy. (b) As additional servicing compensation, the Servicer also shall be entitled to the earnings from the investment of Security Deposits retained as provided in Section 2.4 and as permitted by applicable law.

Appears in 3 contracts

Samples: Servicing Agreement (Fah Co Inc), Servicing Agreement (Greyhound Funding LLC), Servicing Agreement (Greyhound Funding LLC)

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Servicing Compensation; Fees, Costs and Expenses. (a) As compensation for the performance of its obligations under this Agreement and subject to the terms of this Section and the terms of any applicable SUBI Servicing Agreement Supplement, the Servicer shall be entitled to receive from the Trust, a fee (the "β€œServicing Fee"”) equal to: (i) With respect to each SUBI Portfolio, the amount set forth in the related SUBI Servicing Agreement Supplement; and. (ii) With respect to each the UTI Portfolio, such amount as shall be agreed from time to time between the holder of the UTI and the Servicer. (iii) In addition to the foregoing, the Servicer shall be entitled to retain as additional compensation, for each UTI Portfolio or SUBI Portfolio, all Supplemental Servicing Fees. The Servicer shall pay all expenses of the Trust and all expenses incurred by it in connection with its servicing activities hereunder, including the costs of any Trustee, any separate trustee or co-trustee appointed by a Trustee pursuant to Section 5.7 6.6 of the Trust Agreement, and shall not be entitled to reimbursement of such expenseexpenses. Notwithstanding anything contained in the foregoing sentence to the contrary, the Servicer shall not be liable to pay the expenses of the Trust or expenses incurred by the Servicer which constitute Liquidation Expenses, losses with respect to Trust Assets or expenses recoverable under an applicable Insurance PolicyAssets. (b) As additional servicing compensation, the Servicer also shall be entitled to the earnings from the investment of Security Deposits retained as provided in Section 2.4 and as to the extent permitted by applicable lawlaw and the applicable User Leases and to the extent not required to be paid to the End Users.

Appears in 2 contracts

Samples: Servicing Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC), Servicing Agreement (Volkswagen Auto Lease/Loan Underwritten Funding, LLC)

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Servicing Compensation; Fees, Costs and Expenses. (a) As compensation for the performance of its obligations under this Agreement and subject to the terms of this Section and the terms of any applicable SUBI Servicing Agreement Supplement, the Servicer shall be entitled to receive from the Trust, a fee (the "Servicing Fee") equal to: (i) With respect to each SUBI Portfolio, the amount set forth in the related SUBI Servicing Agreement Supplement; and. (ii) With respect to each the UTI Portfolio, such amount as shall be agreed from time to time between the holder of the UTI and the Servicer. (iii) In addition to the foregoing, the Servicer shall be entitled to retain as additional compensation, for each UTI Portfolio or SUBI Portfolio, all Supplemental Servicing Fees. The Servicer shall pay all expenses of the Trust and all expenses incurred by it in connection with its servicing activities hereunder, including the costs of any Trustee, any separate trustee or co-trustee appointed by a Trustee pursuant to Section 5.7 6.6 of the Trust Agreement, and shall not be entitled to reimbursement of such expenseexpenses. Notwithstanding anything contained in the foregoing sentence to the contrary, the Servicer shall not be liable to pay the expenses of the Trust or expenses incurred by the Servicer which constitute Liquidation Expenses, losses with respect to Trust Assets or expenses recoverable under an applicable Insurance PolicyAssets. (b) As additional servicing compensation, the Servicer also shall be entitled to the earnings from the investment of Security Deposits retained as provided in Section 2.4 and as to the extent permitted by applicable lawlaw and the applicable User Leases and to the extent not required to be paid to the End Users.

Appears in 2 contracts

Samples: Servicing Agreement (Volkswagen Public Auto Loan Securitization LLC), Servicing Agreement (Volkswagen Auto Lease Underwritten Funding LLC)

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