ADMINISTRATION AND SERVICING OF LEASE CONTRACTS Sample Clauses
The 'Administration and Servicing of Lease Contracts' clause defines the responsibilities and procedures for managing and maintaining lease agreements throughout their term. It typically outlines the duties of the parties involved, such as collecting payments, handling maintenance requests, and ensuring compliance with lease terms. This clause ensures that both lessor and lessee understand their ongoing obligations, promoting smooth operation of the lease and minimizing disputes related to contract management.
ADMINISTRATION AND SERVICING OF LEASE CONTRACTS. Section 3.01
ADMINISTRATION AND SERVICING OF LEASE CONTRACTS. 6 Section 3.01 Responsibilities of Servicer 6 Section 3.02 Servicer Standard of Care 8 Section 3.03 Lockbox Account and Servicer Remittances 9 Section 3.04 Servicer Advances 10 Section 3.05 Financing Statements 10 Section 3.06 Maintenance of Insurance Policy; Insurance Proceeds 10 Section 3.07 Personal Property and Sales Taxes 11 Section 3.08 Servicing Compensation 11 Section 3.09 Substitution or Purchase of Lease Contracts 11 Section 3.10 No Offset 12 Section 3.11 Required Audits 12
ADMINISTRATION AND SERVICING OF LEASE CONTRACTS. 5 Section 3.01. Responsibilities of Servicer .............................. 5 Section 3.02. Servicer Standard of Care ................................. 8 Section 3.03. Servicer Remittances ...................................... 8 Section 3.04. Servicer Advances ......................................... 9 Section 3.05.
ADMINISTRATION AND SERVICING OF LEASE CONTRACTS. 6 Section 3.01 Responsibilities of Servicer 6 Section 3.02 Servicer Standard of Care 8 Section 3.03 Lockbox Account and Servicer Remittances 9 Section 3.04 Servicer Advances 10 Section 3.05 Financing Statements 10 Section 3.06 Maintenance of Insurance Policy; Insurance Proceeds 10 Section 3.07 Personal Property and Sales Taxes 11 Section 3.08 Servicing Compensation 11 Section 3.09 Substitution or Purchase of Lease Contracts 11 Section 3.10 No Offset 12 ARTICLE 4 13 ACCOUNTINGS, STATEMENTS AND REPORTS 13 Section 4.01 Monthly Servicer's Reports 13 Section 4.02 Financial Statements; Certification as to Compliance; Notice of Default 13 Section 4.03 Independent Accountants' Reports; Annual Federal Tax Lien Search 14 Section 4.04 Access to Certain Documentation and Information 15 Section 4.05 Other Necessary Data 16 Section 4.06 Trustee to Cooperate 16 ARTICLE 5 18 THE SERVICER 18 Section 5.01 Servicer Indemnification 18 Section 5.02 Corporate Existence; Reorganizations 18 Section 5.03 Limitation on Liability of the Servicer and Others 19 Section 5.04 The Servicer Not to Resign 19 ARTICLE 6 20
ADMINISTRATION AND SERVICING OF LEASE CONTRACTS