Common use of Servicing Fee and Servicing Advance Clause in Contracts

Servicing Fee and Servicing Advance. (a) As compensation for its servicing and equipment management activities and as reimbursement for its reasonable expenses in connection therewith, the Servicer shall be entitled to receive the Servicing Fee for each Collection Period. The Servicer shall be entitled to be reimbursed out of proceeds of dispositions of Equipment for any costs, fees and expenses for the refurbishment, remarketing, leasing, re-leasing, selling or disposing of such Equipment in accordance with Section 2.2 (which may include fees and expenses paid by the Servicer to third-parties in connection with such refurbishment, remarketing, leasing, re-leasing, selling or disposing of Equipment if such third-parties are engaged to undertake such sale). Except as provided in the two preceding sentences, the Servicer shall be required to pay for all expenses incurred by it in connection with its activities hereunder (including any payments to accountants, counsel or any other Person) and shall not be entitled to any payment therefor other than the Servicing Fee. The Servicer shall also be entitled to reimbursement for any outstanding Servicing Advance owing to the Servicer with respect to all preceding Collection Periods. (b) The Servicer may, but shall have no obligation to, make a Servicing Advance in the manner and to the extent provided herein, but only to the extent the Servicer, in its sole discretion, expects to be reimbursed for such Servicing Advance. If the Servicer elects to make a Servicing Advance, prior to the close of business on each Determination Date, the Servicer will determine the amount of the Servicing Advance that it has elected to make on the related Transfer Date. The Servicer shall include information as to such determination in the Servicer’s Certificate furnished by it in accordance with Section 2.7 and shall be obligated to transfer to the Collection Account on or before 11:00 a.m. (New York City time) on the related Transfer Date in next day funds the amounts applicable to such determinations appearing in such Servicer’s Certificate. All Servicing Advances shall be reimbursable to the Servicer, without interest, when a payment relating to a Receivable with respect to which Servicing Advance has previously been made is subsequently received. Upon the determination by the Servicer that reimbursement from the preceding source is unlikely or nonrecoverable, it will be entitled to recover unreimbursed Servicing Advances from Available Amounts on or in respect of other Receivables.

Servicing Fee and Servicing Advance. (a) As compensation for its servicing and equipment management activities and as reimbursement for its reasonable expenses in connection therewith, the Servicer shall be entitled to receive the Servicing Fee for each Collection Period. The Servicer shall be entitled to be reimbursed out of proceeds of dispositions of Equipment for any costs, fees and expenses for the refurbishment, remarketing, leasing, re-leasing, selling or disposing of such Equipment in accordance with Section 2.2 (which may include fees and expenses paid by the Servicer to third-parties in connection with such refurbishment, remarketing, leasing, re-leasing, selling or disposing of Equipment if such third-parties are engaged to undertake such sale). Except as provided in the two preceding sentences, the Servicer shall be required to pay for all expenses incurred by it in connection with its activities hereunder (including any payments to accountants, counsel or any other Person) and shall not be entitled to any payment therefor other than the Servicing Fee. The Servicer shall also be entitled to reimbursement for any outstanding Servicing Advance owing to the Servicer with respect to all preceding Collection Periods. (b) The Servicer may, but shall have no obligation to, make a Servicing Advance in the manner and to the extent provided herein, but only to the extent the Servicer, in its sole discretion, expects to be reimbursed for such Servicing Advance. If the Servicer elects to make a Servicing Advance, prior to the close of business on each Determination Date, the Servicer will determine the amount of the Servicing Advance that it has elected to make on the related Transfer Date. The Servicer shall include information as to such determination in the Servicer’s Certificate furnished by it in accordance with Section 2.7 and shall be obligated to transfer to the Collection Account on or before 11:00 a.m. (New York City time) on the related Transfer Date in next day funds the amounts applicable to such determinations appearing in such Servicer’s Certificate. All Servicing Advances shall be reimbursable to the Servicer, without interest, when a payment relating to a Receivable Loan with respect to which a Servicing Advance has previously been made is subsequently received. Upon the determination by the Servicer that reimbursement from the preceding source is unlikely or nonrecoverable, it will be entitled to recover unreimbursed Servicing Advances from Available Amounts on or in respect of other ReceivablesLoans.

Servicing Fee and Servicing Advance. (a) As compensation for its servicing and equipment management activities and as reimbursement for its reasonable expenses in connection therewith, the Servicer shall be entitled to receive the Servicing Fee for each Collection Period. The Servicer shall be entitled to be reimbursed out of proceeds of dispositions of Equipment for any costs, fees and expenses for the refurbishment, remarketing, leasing, re-leasing, selling or disposing of such Equipment in accordance with Section 2.2 (which may include fees and expenses paid by the Servicer to third-parties in connection with such refurbishment, remarketing, leasing, re-leasing, selling or disposing of Equipment if such third-parties are engaged to undertake such sale). Except as provided in the two preceding sentencessentence, the Servicer shall be required to pay for all expenses incurred by it in connection with its activities hereunder (including any payments to accountants, counsel or any other Person) and shall not be entitled to any payment therefor other than the Servicing Fee. The Servicer shall also be entitled to reimbursement for any outstanding Servicing Advance owing to the Servicer with respect to all preceding Collection Periods. (b) The Servicer may, but shall have no obligation to, make a Servicing Advance in the manner and to the extent provided herein, but only to the extent the Servicer, in its sole discretion, expects to be reimbursed for such Servicing Advance. If the Servicer elects to make a Servicing Advance, prior to the close of business on each Determination Date, the Servicer will determine the amount of the Servicing Advance that it has elected to make on the related Transfer Date. The Servicer shall include information as to such determination in the Servicer’s Certificate furnished by it in accordance with Section 2.7 and shall be obligated to transfer to the Collection Account on or before 11:00 a.m. (New York City time) on the related Transfer Date in next day funds the amounts applicable to such determinations appearing in such Servicer’s Certificate. All Servicing Advances shall be reimbursable to the Servicer, without interest, when a payment relating to a Receivable with respect to which a Servicing Advance has previously been made is subsequently received. Upon the determination by the Servicer that reimbursement from the preceding source is unlikely or nonrecoverable, it will be entitled to recover unreimbursed Servicing Advances from Available Amounts on or in respect of other Receivables.

Servicing Fee and Servicing Advance. (a) As compensation for its servicing [and equipment management management] activities and as reimbursement for its reasonable expenses in connection therewith, the Servicer shall be entitled to receive the Servicing Fee for each Collection Period. The Servicer shall be entitled to be reimbursed out of proceeds of dispositions of Equipment for any costs, fees and expenses for the refurbishment, remarketing, leasing, re-leasing, selling or disposing of such Equipment in accordance with Section 2.2 (which may include fees and expenses paid by the Servicer to third-parties in connection with such refurbishment, remarketing, leasing, re-leasing, selling or disposing of Equipment if such third-parties are engaged to undertake such sale). Except as provided in the two preceding sentences, the Servicer shall be required to pay for all expenses incurred by it in connection with its activities hereunder (including any payments to accountants, counsel or any other Person) and shall not be entitled to any payment therefor other than the Servicing Fee. The Servicer shall also be entitled to reimbursement for any outstanding Servicing Advance owing to the Servicer with respect to all preceding Collection Periods. (b) The Servicer may, but shall have no obligation to, make a Servicing Advance in the manner and to the extent provided herein, but only to the extent the Servicer, in its sole discretion, expects to be reimbursed for such Servicing Advance. If the Servicer elects to make a Servicing Advance, prior to the close of business on each Determination Date, the Servicer will determine the amount of the Servicing Advance that it has elected to make on the related Transfer Date. The Servicer shall include information as to such determination in the Servicer’s Certificate furnished by it in accordance with Section 2.7 and shall be obligated to transfer to the Collection Account on or before 11:00 a.m. (New York City time) on the related Transfer Date in next day funds the amounts applicable to such determinations appearing in such Servicer’s Certificate. All Servicing Advances shall be reimbursable to the Servicer, without interest, when a payment relating to a Receivable [Loan] [Receivable] with respect to which Servicing Advance has previously been made is subsequently received. Upon the determination by the Servicer that reimbursement from the preceding source is unlikely or nonrecoverable, it will be entitled to recover unreimbursed Servicing Advances from Available Amounts on or in respect of other Receivables.