Common use of Servicing Compensation; Payment of Certain Expenses by Servicer Clause in Contracts

Servicing Compensation; Payment of Certain Expenses by Servicer. On each Distribution Date, the Servicer shall be entitled to receive, and the Indenture Trustee shall pay, out of collections on the Mortgage Loans for the Due Period, as servicing compensation for such Due Period, an amount (the "Monthly Servicing Fee") equal to the product of one-twelfth of the Servicing Fee Rate and the aggregate outstanding Principal Balance of each Pool of Mortgage Loans as of the beginning of such Due Period; provided, however, that prior to the termination of the Back-up Servicer, the Monthly Servicing Fee shall be reduced on each Distribution Date by the amount, if any, of the Back-up Servicing Fee Deficiency on such Distribution Date. The Servicer shall provide written notice to the Indenture Trustee and the Collateral Agent setting forth the amount of such reduction at least five (5) Business Days prior to the next Distribution Date. Additional servicing compensation in the form of assumption fees, late payment charges or extension and other administrative charges shall be retained by the Servicer. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (including payment of all fees and expenses of the Subservicer, payment of the Indenture Trustee Fee and payment of the Collateral Agent Fee to the extent that monies in the Collection Account are insufficient therefor, as provided in Section 6.16 of the Indenture and Section 9.05 hereof, and all other fees and expenses not expressly stated hereunder to be payable by or from another source) and shall not be entitled to reimbursement therefor except as specifically provided herein.

Servicing Compensation; Payment of Certain Expenses by Servicer. On each Servicer Distribution Date, the Servicer shall be entitled to receive, retain and not include in the Indenture Trustee shall pay, out of collections on the Mortgage Loans for the Due PeriodServicer Distribution Amount, as servicing compensation for the Due Period immediately preceding such Due PeriodServicer Distribution Date, an amount (the "Monthly Servicing Fee") equal to the product of one-twelfth of the Servicing Fee Rate and the aggregate outstanding Principal Balance of each Pool of Mortgage Loans as of the beginning of such Due PeriodFee; provided, however, that prior for the first six months following the Closing Date, the Servicer shall not be entitled to retain and shall include in the Servicer Distribution Amount an amount equal to the termination product of the Back-up Servicer, the Monthly Servicing Fee shall be reduced on each Distribution Date by the amount, if any, of the Back-up Servicing Fee Deficiency on such Distribution Date. The Servicer shall provide written notice to the Indenture Trustee 0.50% per annum and the Collateral Agent setting forth the amount Scheduled Principal Balance of such reduction at least five (5) Business Days prior to the next Distribution Dateeach Mortgage Loan. Additional servicing compensation in the form of assumption fees, late payment charges or extension and other administrative charges, release fees, bad check charges and other similar servicing-related fees shall be retained by the Servicer. Net Liquidation Proceeds not otherwise required to be deposited in the Certificate Account or the Collection Account pursuant to this Agreement, to the extent set forth in Section 6.6(d), earnings paid on Permitted Investments and amounts held on deposit as investment earnings on the Collection Account shall be retained by or remitted to the Servicer to the extent not required to be remitted to the Trustee for deposit in the Certificate Account. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (including payment of all fees and expenses of the Subservicer, payment of the Indenture Trustee Fee and payment of the Collateral Agent Fee to the extent that monies in the Collection Account are insufficient therefor, as provided in Section 6.16 of the Indenture and Section 9.05 9.5 hereof, and all other fees and expenses not expressly stated hereunder to be payable by or from another source) and shall not be entitled to reimbursement therefor except as specifically provided herein.

Servicing Compensation; Payment of Certain Expenses by Servicer. On each Distribution DateAs compensation for its activities, the Servicer shall be entitled to receive, and the Indenture Trustee shall pay, out of collections on the Mortgage Loans for the Due Period, as servicing compensation for such Due Period, an amount (the "Monthly Servicing Fee") equal to the product of one-twelfth of receive the Servicing Fee Rate and the aggregate outstanding Principal Balance of each Pool of Mortgage Loans as eighty basis points (0.80%) annually of the beginning outstanding lease receivable balance of such Due Period; providedall serviced leases under this Agreement determined on the prior month's ending balances paid on a monthly basis, howeverbut in no case shall the monthly amount calculated and due be less than the sum of $1,000.00 and $11.00 per Lease serviced during the preceding month, that excepting herefrom Leases which at the inception of this Agreement had no receivable due to Originator other than contractural purchase options. Furthermore, Servicer shall be paid a one-time fee by Originator prior to the termination initiation of the Back-up Servicerservices by Servicer as required herein of $500.00 plus $1.00 per Lease for every Lease initially transferred electronically for servicing under this Agreement and $3.50 for every Lease transferred manually. Additionally, the Monthly Servicing Fee Servicer shall be reduced on each Distribution Date by the amount, if any, paid a separate fee of the Back-up Servicing Fee Deficiency on such Distribution Date. The Servicer shall provide written notice to the Indenture Trustee and the Collateral Agent setting forth the amount of such reduction at least five (5) Business Days prior to the next Distribution Date. Additional servicing compensation in the form of assumption fees, late payment charges or extension and other administrative charges shall be retained by the Servicer$25.00 for every lease termination and/or purchase option exercised when serviced. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder hereunder, including, without limitation, (including payment of all a) fees and expenses disbursements of the SubservicerIndependent Public Accountants, payment of (b) taxes imposed on the Indenture Trustee Fee Servicer (but excluding any sales or property taxes imposed on any Lessee, the Originator or any other Person), (c) expenses incurred in connection with distributions and payment of the Collateral Agent Fee reports to the extent that monies in the Collection Account are insufficient therefor, as provided in Section 6.16 Originator except any customized or special reports requiring out of the Indenture pocket cost by Servicer shall be reimbursed by Originator and Section 9.05 hereof, and (d) all other fees and expenses not expressly stated hereunder to be payable for the account of the Originator excepting therefrom any costs or fees advanced by the Servicer on behalf of the Originator to repossess, move, transport, store, recondition, advertise or from another source) sell any equipment under a serviced lease, or institute any collection proceeding including attorney's fees, costs and expenses as agreed to by the Originator in advance which amounts shall not be entitled reimbursed to reimbursement therefor except as specifically provided hereinServicer by Originator.

Servicing Compensation; Payment of Certain Expenses by Servicer. On each Distribution Date, the Servicer shall be entitled to receive, receive and the Indenture Trustee shall pay, out of collections on the Mortgage Loans for the Due Period, as servicing compensation for such Due Period, an amount (the "Monthly Servicing Fee") equal to the product of one-twelfth of the Servicing Fee Rate and the aggregate outstanding Principal Pool Balance of each Pool of Mortgage Loans as of the beginning of such Due Period; provided, however, that prior to the termination of the Back-up Servicer, the Monthly Servicing Fee shall be reduced on each Distribution Date by the amount, if any, of the Back-up Servicing Fee Deficiency on such Distribution Date. The Servicer shall provide written notice to the Indenture Trustee and the Collateral Agent setting forth the amount of such reduction at least five (5) Business Days prior to the next Distribution Date. Additional servicing compensation in the form of assumption fees, late payment charges or extension and other administrative charges shall be retained by the Servicer. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (including payment of all fees and expenses of the Subservicer, payment of the Indenture Trustee Fee Subservicer and payment of the Collateral Agent Trustee Fee to the extent that monies in the Collection Account are insufficient therefor, as provided in Section 6.16 of the Indenture and Section 9.05 hereof, and all other fees and expenses not expressly stated hereunder to be payable by or from another source) and shall not be entitled to reimbursement therefor except as specifically provided herein.

Servicing Compensation; Payment of Certain Expenses by Servicer. On each Distribution Payment Date, the Servicer shall be entitled to receive, and the Indenture Trustee shall pay, out of collections on the Mortgage Loans for the Due Period, as servicing compensation for such Due Period, an amount (the "Monthly Servicing Fee") equal to the product of one-twelfth of the Servicing Fee Rate and the aggregate outstanding Principal Balance of each Pool of the Mortgage Loans as of the beginning of such Due Period; provided, however, that prior to the termination of the Back-up Servicer, the Monthly Servicing Fee shall be reduced on each Distribution Date by the amount, if any, of the Back-up Servicing Fee Deficiency on such Distribution Date. The Servicer shall provide written notice to the Indenture Trustee and the Collateral Agent setting forth the amount of such reduction at least five (5) Business Days prior to the next Distribution Date. Additional servicing compensation in the form of assumption fees, prepayment premiums, late payment charges or extension and other administrative charges shall be retained by the Servicer. The Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder (including payment of all fees and expenses of the Subservicer, payment of the Indenture Trustee Fee and payment of the Collateral Agent Fee to the extent that monies in the Collection Account are insufficient therefor, as payments provided in Section 6.16 of the Indenture and payment of the Collateral Agent Fee as provided in Section 9.05 11.05 hereof), and all other fees and expenses not expressly stated hereunder to be payable by or from another source) source and shall not be entitled to reimbursement therefor except as specifically provided herein. The Back-up Servicer shall not be responsible to pay any expenses or fees due to the Indenture Trustee or the Collateral Agent unless and until such time as the Back-up Servicer becomes the Servicer.