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

Total Servicing Fee; Payment of Certain Expenses by Servicer. So as long as: (i) HSBC Finance Corporation is the Servicer, (ii) the Servicer is permitted to make deposits of Collections in accordance with Section 4.2(e) hereof and (iii) the Servicer’s Certificate delivered with respect to such Distribution Date indicates that Available Funds with respect to such Distribution Date are sufficient to make the distributions required to be made on such Distribution Date in respect of the Servicing Fee payable to HSBC Finance Corporation as Servicer (and all other distributions required to be made on such Distribution Date having a higher priority than the distribution of the Servicing Fee payable to HSBC Finance Corporation as Servicer), the Servicer shall be entitled to retain out of amounts otherwise to be deposited in the Collection Account with respect to a Collection Period, the Servicing Fee payable to HSBC Finance Corporation as Servicer for such Collection Period. The Servicer shall be required to pay all expenses incurred by it in connection with its activities under this Agreement (including taxes imposed on the Servicer, expenses incurred in connection with distributions and reports made by the Servicer to Securityholders, all fees and expenses of the Owner Trustee, the Indenture Trustee and the Administrator), except taxes levied or assessed against the Trust, and claims against the Trust in respect of indemnification, which taxes and claims in respect of indemnification against the Trust are expressly stated to be for the account of HSBC Finance Corporation. The Servicer shall not be entitled to reimbursement of Advanced Insurance Premiums except as set forth in Section 4.4(c). The Servicer shall be liable for the fees, charges and expenses of the Owner Trustee, the Indenture Trustee, the Administrator, any Subservicer and their respective agents.