Definition of Projected Expenditures

Projected Expenditures means, with respect to any period of time, the aggregate projected amount of the following expenditures of the Borrower for such period, as reasonably determined by the Master Servicer and notified to, and verified by, the Agent: (a) premiums payable on the Purchased Policies (assuming that there will be no sales or lapses of, or deaths of Insureds under, the Purchased Policies during such period), (b) Facility Fees (including, without limitation, any accrued and unpaid Deferred Fee as of the beginning of such period), (c) Interest (calculated by fixing the outstanding principal balance of the Advances and the applicable Interest Rate(s) as of the first day of such period), (c) the Life Settlement Servicing Fee, (d) the Master Servicer Fee, (e) the Collateral Account Bank Fees, (f) the Deposit Account Bank Fees, (g) the Custodian Fees, (h) the Backup Services Fees and (i) the Titling Trust Trustee Fees.