Common use of Amortisation Test Clause in Contracts

Amortisation Test. Subject to Clauses 3.4 and 3.6 and after the service of a Notice to Pay, the Asset Monitor shall by no later than ten (10) Business Days following the receipt of the relevant information to be provided to it pursuant to Clause 4, test the arithmetic accuracy of the calculations performed by the CBC (or the Administrator on its behalf) in relation to the Amortisation Test on each Calculation Date, with a view to confirmation of the accuracy or otherwise of such calculations. In this respect, the Asset Monitor shall be provided with figures for the items listed in Clause 4.2 and shall test that (a) A, B, C and Z and the Amortisation Test Aggregate Asset Amount have been calculated in accordance with Schedule 3 to the Asset Monitoring Agreement; and (b) whether or not the Amortisation Test Aggregate Asset Amount is equal to or greater than the aggregate Principal Amount Outstanding of the Covered Bonds; and (c) whether the Outstanding Principal Amount of all Mortgage Receivables, excluding any Defaulted Receivables, plus (ii) the Collateral Market Value of all Transferred Collateral in the form of Substitution Assets, plus (iii) all amounts standing to the balance of the CBC Transaction Accounts, excluding Swap Collateral and excluding amounts standing to the balance of the Construction Account, will always be at least equal to 115% of the aggregate Principal Amount Outstanding of the Covered Bonds; and (d) whether the First Regulatory Current Balance Amount is equal to or greater than 105% of the aggregate Principal Amount Outstanding of the Covered Bonds, or such other percentage as may be required from time to time under the CB Regulations; and (e) whether the Second Regulatory Current Balance Amount is equal to or greater than 100% of the aggregate Principal Amount Outstanding of the Covered Bonds, or such other percentage as may be required form time to time under the CB Regulations. The Asset Monitor is not required to test the arithmetic accuracy of α, β, the Current Balance, the Indexed Valuation for each Mortgage Receivable nor the accuracy of the Asset Percentage and the LTV Cut-Off Percentage.

Amortisation Test. Subject 4.1 The CBC shall use reasonable efforts to Clauses 3.4 and 3.6 and after procure that for so long as the Covered Bonds remain outstanding, as at the end of each calendar month following service of a Notice to Pay, the Asset Monitor shall by no later than ten Pay (10) Business Days following the receipt but prior to service of the relevant information to be provided to it pursuant to Clause 4, test the arithmetic accuracy of the calculations performed by the a CBC (or the Administrator on its behalf) in relation to the Amortisation Test on each Calculation Date, with a view to confirmation of the accuracy or otherwise of such calculations. In this respect, the Asset Monitor shall be provided with figures for the items listed in Clause 4.2 and shall test thatAcceleration Notice): (ai) A, B, C and Z and the Amortisation Test Aggregate Asset Amount have been calculated (as defined in accordance with Schedule 3 to the Asset Monitoring Agreement; and (bhereto) whether or not the Amortisation Test Aggregate Asset Amount is equal to or greater than the aggregate Principal Amount Outstanding of the Covered Bonds; and (c) whether the Outstanding Principal Amount of all Mortgage Receivables, excluding any Defaulted Receivables, plus (ii) the Collateral Market Value of all Transferred Collateral in the form of Substitution Assets, plus (iii) all amounts standing to the balance of the CBC Transaction Accounts, excluding Swap Collateral and excluding amounts standing to the balance of the Construction Account, will always be an amount at least equal to 115% the euro equivalent of the aggregate Principal Amount Outstanding of the Covered BondsBonds as at the end of such calendar month (or with respect to item B of the Amortisation Test, up to the date specified in item B), all as calculated on the immediately succeeding Calculation Date; and and (dii) whether the First Regulatory Current Balance Amount is shall be at least equal to or greater than 105% of the aggregate Principal Amount Outstanding of the Covered Bonds%, or such other percentage as may be required from time to time under the CB Regulations; and (e) whether the Second Regulatory Current Balance Amount is equal to or greater than 100% , of the aggregate Principal Amount Outstanding of the Covered BondsBonds at the end of such calendar month (or with respect to item B of the Asset Cover Test, up to the date specified in item B) all as calculated on the immediately succeeding Calculation Date; and (iii) the Second Regulatory Current Balance Amount will be at least equal to 100%, or such other percentage as may be required form from time to time under the CB Regulations. The Asset Monitor is not required , of the aggregate Principal Amount Outstanding of the Covered Bonds at the end of such calendar month (or with respect to test the arithmetic accuracy of α, β, the Current Balance, the Indexed Valuation for each Mortgage Receivable nor the accuracy item B of the Asset Percentage Cover Test, up to the date specified in item B) all as calculated on the immediately succeeding Calculation Date, (items (i) up to and including (iii) the "Amortisation Test"), all in accordance with Schedule 3 hereto. 4.2 The CBC (or the Administrator on its behalf) shall, on each Calculation Date following the service of a Notice to Pay, conduct the Amortisation Test. 4.3 If on any Calculation Date following the service of a Notice to Pay the Amortisation Test is not met per the end of the previous calendar month (such failure to meet the Amortisation Test on the next succeeding Calculation Date being a "Breach of Amortisation Test" on such Calculation Date), then the CBC (or the Administrator on its behalf) shall immediately notify the Security Trustee thereof in writing, and the LTV Cut-Off PercentageSecurity Trustee will be entitled to serve a Breach of Amortisation Test Notice on the Issuer and the CBC in writing.

Amortisation Test. Subject 4.1 The CBC shall use reasonable efforts to Clauses 3.4 and 3.6 and after procure that for so long as the Covered Bonds remain outstanding, as at the end of each calendar month following service of a Notice to Pay, the Asset Monitor shall by no later than ten Pay (10) Business Days following the receipt but prior to service of the relevant information to be provided to it pursuant to Clause 4, test the arithmetic accuracy of the calculations performed by the a CBC (or the Administrator on its behalf) in relation to the Amortisation Test on each Calculation Date, with a view to confirmation of the accuracy or otherwise of such calculations. In this respect, the Asset Monitor shall be provided with figures for the items listed in Clause 4.2 and shall test thatAcceleration Notice): (ai) A, B, C and Z and the Amortisation Test Aggregate Asset Amount have been calculated (as defined in accordance with Schedule 3 hereto) will be an amount at least equal to the Asset Monitoring Agreement; and (b) whether or not the Amortisation Test Aggregate Asset Amount is equal to or greater than euro equivalent of the aggregate Principal Amount Outstanding of the Covered BondsBonds as at the end of such calendar month (or with respect to item B of the Amortisation Test, up to the date specified in item B), all as calculated on the immediately succeeding Calculation Date; and and (cii) whether the First Regulatory Current Balance Amount shall be at least equal to 105%, or such other percentage as may be required from time to time under the CB Regulations, of the aggregate Principal Amount Outstanding of the Covered Bonds at the end of such calendar month (or with respect to item B of the Asset Cover Test, up to the date specified in item B) all as calculated on the immediately succeeding Calculation Date; (iii) the Outstanding Principal Amount of all Mortgage Receivables, excluding any Defaulted Receivables, plus (iia) the Collateral Market Value of all Transferred Collateral in the form of Substitution Assets, Assets plus (iiib) all amounts standing to the balance of the CBC Transaction Accounts, excluding Swap Collateral and excluding amounts standing to the balance of the Construction Account, will always be at least equal to 115% of the aggregate Principal Amount Outstanding of the Covered Bonds; and and (div) whether the First Second Regulatory Current Balance Amount is will be at least equal to or greater than 105% of the aggregate Principal Amount Outstanding of the Covered Bonds100%, or such other percentage as may be required from time to time under the CB Regulations; and (e) whether the Second Regulatory Current Balance Amount is equal to or greater than 100% , of the aggregate Principal Amount Outstanding of the Covered Bonds, Bonds at the end of such calendar month (or such other percentage as may be required form time with respect to time under the CB Regulations. The Asset Monitor is not required to test the arithmetic accuracy of α, β, the Current Balance, the Indexed Valuation for each Mortgage Receivable nor the accuracy item B of the Asset Percentage Cover Test, up to the date specified in item B) all as calculated on the immediately succeeding Calculation Date, (items (i) up to and including (iv) the "Amortisation Test"), all in accordance with Schedule 3 hereto. 4.2 The CBC (or the Administrator on its behalf) shall, on each Calculation Date following the service of a Notice to Pay, conduct the Amortisation Test. 4.3 If on any Calculation Date following the service of a Notice to Pay the Amortisation Test is not met per the end of the previous calendar month (such failure to meet the Amortisation Test on the next succeeding Calculation Date being a "Breach of Amortisation Test" on such Calculation Date), then the CBC (or the Administrator on its behalf) shall immediately notify the Security Trustee thereof in writing, and the LTV Cut-Off PercentageSecurity Trustee will be entitled to serve a Breach of Amortisation Test Notice on the Issuer and the CBC in writing.

Amortisation Test. Subject ‌ 4.1 The CBC shall use reasonable endeavours to Clauses 3.4 and 3.6 and after procure that for so long as the Covered Bonds remain outstanding, as at the end of each calendar month following the service of a Notice to Pay, the Asset Monitor shall by no later than ten (10) Business Days following the receipt of the relevant information to be provided to it pursuant to Clause 4, test the arithmetic accuracy of the calculations performed by Pay on the CBC (or the Administrator on its behalf) in relation but prior to the Amortisation Test service of a CBC Acceleration Notice on each Calculation Datethe CBC), with a view to confirmation of the accuracy or otherwise of such calculations. In this respect, the Asset Monitor shall be provided with figures for the items listed in Clause 4.2 and shall test that (ai) A, B, C and Z and the Amortisation Test Aggregate Asset Amount have been calculated (as defined in accordance with Schedule 3 to the Asset Monitoring Agreement; and (bhereto) whether or not the Amortisation Test Aggregate Asset Amount is shall be an amount at least equal to or greater than the aggregate Principal Amount Outstanding of the Covered Bonds; Bonds as at the end of such calendar month (or with respect to item B of the Amortisation Test, up to the date specified in item B), all as calculated on the immediately succeeding Calculation Date and (cii) whether (a) the Net Outstanding Principal Amount of all Mortgage Receivables, excluding any Defaulted Mortgage Receivables, plus (iib) the Collateral Market Value of all Transferred Collateral in the form of Substitution Assets, Assets plus (iiic) all amounts standing to the balance of the CBC Transaction Accounts, excluding Swap Collateral and excluding amounts standing to the balance of the Construction Account, will always shall be at least equal to 115% of the aggregate Principal Amount Outstanding of the Covered Bonds; Bonds at the end of such calendar month all as calculated on the immediately succeeding Calculation Date and (diii) whether the First Regulatory Current Balance Amount is shall be at least equal to or greater than 105% of the aggregate Principal Amount Outstanding of the Covered Bonds%, or such other percentage as may be required from time to time under the CB Regulations; and (e) whether the Second Regulatory Current Balance Amount is equal to or greater than 100% , of the aggregate Principal Amount Outstanding of the Covered BondsBonds at the end of such calendar month (or with respect to item B of the Amortisation Test, up to the date specified in item B), all as calculated on the immediately succeeding Calculation Date and (iv) the Second Regulatory Current Balance Amount shall be at least equal to 100% or such other percentage as may be required form from time to time under the CB Regulations. , of the aggregate Principal Amount Outstanding of the Covered Bonds at the end of such calendar month (or with respect to item B as defined below, up to the date specified in item B) all as calculated on the immediately succeeding Calculation Date (the "Amortisation Test"). 4.2 The Asset Monitor CBC (or the Administrator on its behalf) shall, on each Calculation Date following the service of a Notice to Pay, conduct the Amortisation Test. 4.3 If on any Calculation Date following the service of a Notice to Pay the Amortisation Test is not required to test met per the arithmetic accuracy of α, β, the Current Balance, the Indexed Valuation for each Mortgage Receivable nor the accuracy end of the Asset Percentage previous calendar month (such failure to meet the Amortisation Test on the next succeeding Calculation Date being a "Breach of the Amortisation Test" on such Calculation Date), then the CBC (or the Administrator on its behalf) shall immediately notify the Security Trustee thereof in writing, and the LTV Cut-Off PercentageSecurity Trustee will be entitled to serve a Breach of Amortisation Test Notice on the Issuer and the CBC.

Amortisation Test. Subject to Clauses 3.4 12.1 For so long as the Covered Bonds remain outstanding, the LLP and 3.6 and after each Member (other than the Liquidation Member) shall procure that on each Calculation Date following the service of a Notice to Pay, Pay on the Asset Monitor shall by no later than ten LLP (10) Business Days following but prior to the receipt service of an LLP Acceleration Notice on the LLP and/or the commencement of winding-up proceedings against the LLP and/or the realisation of the relevant information to be provided to it pursuant to Clause 4Security), test the arithmetic accuracy of the calculations performed by the CBC (or the Administrator on its behalf) in relation to the Amortisation Test on each Calculation Date, with a view to confirmation of the accuracy or otherwise of such calculations. In this respect, the Asset Monitor shall be provided with figures for the items listed in Clause 4.2 and shall test that (a) A, B, C and Z and the Amortisation Test Aggregate Asset Loan Amount have been calculated (as defined below) will be in accordance with Schedule 3 to the Asset Monitoring Agreement; and (b) whether or not the Amortisation Test Aggregate Asset Amount is equal to or greater than the aggregate Principal Amount Outstanding of the Covered Bonds; and (c) whether the Outstanding Principal Amount of all Mortgage Receivables, excluding any Defaulted Receivables, plus (ii) the Collateral Market Value of all Transferred Collateral in the form of Substitution Assets, plus (iii) all amounts standing to the balance of the CBC Transaction Accounts, excluding Swap Collateral and excluding amounts standing to the balance of the Construction Account, will always be an amount at least equal to 115% the Sterling Equivalent of the aggregate Principal Amount Outstanding of the Covered BondsBonds as calculated on the relevant Calculation Date (the Amortisation Test). 12.2 The Amortisation Test Aggregate Loan Amount will be calculated on each Calculation Date as follows: A + B + C – Y – Z where: A = the aggregate Amortisation Test Outstanding Principal Balance of each Loan in the Portfolio, which shall be the lower of (a) the actual Outstanding Principal Balance of the relevant Loan as calculated on the relevant Calculation Date multiplied by M and (b) 100% of the Indexed Valuation multiplied by M, (where for all Loans that are not Defaulted Loans, M = 1 and for all Loans that are Defaulted Loans, M = 0.7); B = the sum of the amount of any cash standing to the credit of the GIC Account and the principal amount of any Authorised Investments (excluding any Revenue Receipts received in the immediately preceding Calculation Period); C = the aggregate outstanding principal balance of any Substitution Assets; Y = an amount equal to the Supplemental Liquidity Reserve Amount; and Z = the weighted average remaining maturity of all Covered Bonds then outstanding (dexpressed in years) whether multiplied by the First Regulatory Current Balance Amount is equal to or greater than 105% Sterling Equivalent of the aggregate Principal Amount Outstanding of the Covered BondsBonds multiplied by the Negative Carry Factor. 12.3 If, or such other percentage as may be required from time on any Calculation Date following the service of a Notice to time under Pay on the CB Regulations; and (e) whether LLP, the Second Regulatory Current Balance Amortisation Test Aggregate Loan Amount is equal to or greater less than 100% the Sterling Equivalent of the aggregate Principal Amount Outstanding of the Covered BondsBonds as calculated on the relevant Calculation Date, or such other percentage as may then the Amortisation Test shall be required form time deemed to time under the CB Regulationsbe breached and an LLP Event of Default shall occur. The Asset Monitor is not required to test LLP (or the arithmetic accuracy of αCash Manager on its behalf) shall immediately notify the Members and, βwhilst the Covered Bonds are outstanding, the Current BalanceSecurity Trustee and the Bond Trustee, the Indexed Valuation for each Mortgage Receivable nor the accuracy of any breach of the Asset Percentage and the LTV Cut-Off PercentageAmortisation Test.

Amortisation Test. Subject to Clauses 3.4 and 3.6 and after 3.6, following the service of a Notice to Pay, the Asset Monitor shall by no later than ten (10) Business Days following the receipt of the relevant information to be provided to it pursuant to Clause 4, test the arithmetic accuracy of the calculations performed by the CBC (or the Administrator on its behalf) in relation to the Amortisation Test on each Calculation Date, with a view to confirmation of confirm the accuracy or otherwise of such calculations. In this respect, the Asset Monitor shall be provided with figures for the items listed in Clause 4.2 and shall test thattest: (a) that (a) A, B, C and Z and the Amortisation Test Aggregate Asset Amount have been calculated in accordance with Schedule 3 to the Asset Monitoring Agreement; and ; (b) whether or not the Amortisation Test Aggregate Asset Amount is at least equal to or greater than the aggregate Principal Amount Outstanding of the Covered Bonds; and ; (c) whether the Net Outstanding Principal Amount of all Mortgage Receivables, excluding any Defaulted Receivables and any Non- Eligible Receivables, plus (iii) the Collateral Market Value of all Transferred Collateral in the form of Substitution Assets, Assets plus (iiiii) all amounts standing to the balance of the CBC Transaction Accounts, excluding Swap Collateral and excluding amounts standing to the balance of the Construction AccountAmounts, will always be is at least equal to 115110% of the aggregate Principal Amount Outstanding of the Covered Bonds; and ; (d) whether the First Regulatory Current Balance Amount is at least equal to or greater than 105% of the aggregate Principal Amount Outstanding of the Covered Bonds%, or such other percentage as may be required from time to time under the CB Regulations, of the aggregate Principal Amount Outstanding of the Covered Bonds; and and (e) whether the Second Regulatory Current Balance Amount is at least equal to 100%, or greater than 100% such other percentage as may be required from time to time under the CB Regulations, of the aggregate Principal Amount Outstanding of the Covered Bonds, or such other percentage as may be required form time to time under the CB Regulations. The Asset Monitor is not required to test the arithmetic accuracy of α, β, the Current Balance, the Indexed Valuation for each Mortgage Receivable nor the accuracy of the Asset Percentage and the LTV Cut-Cut- Off Percentage.

Amortisation Test. Subject ‌ 4.1 The CBC shall use reasonable endeavours to Clauses 3.4 and 3.6 and after procure that for so long as the Covered Bonds remain outstanding, as at the end of each calendar month following service of a Notice to Pay, the Asset Monitor shall by no later than ten Pay (10) Business Days following the receipt but prior to service of the relevant information to be provided to it pursuant to Clause 4, test the arithmetic accuracy of the calculations performed by the a CBC (or the Administrator on its behalf) in relation to the Amortisation Test on each Calculation Date, with a view to confirmation of the accuracy or otherwise of such calculations. In this respect, the Asset Monitor shall be provided with figures for the items listed in Clause 4.2 and shall test thatAcceleration Notice), (ai) A, B, C and Z and the Amortisation Test Aggregate Asset Amount have been calculated (as defined in accordance with Schedule 3 to the Asset Monitoring Agreement; and (bhereto) whether or not the Amortisation Test Aggregate Asset Amount is will be at least an amount equal to or greater than the aggregate Principal Amount Outstanding of the Covered Bonds; and Bonds as at the end of such calendar month (cor with respect to item B of the Amortisation Test, up to the date specified in item B), all as calculated on the immediately succeeding Calculation Date; (ii) whether the Net Outstanding Principal Amount of all Mortgage Receivables, excluding any Defaulted Receivables and any Non-Eligible Receivables, plus (iia) the Collateral Market Value of all Transferred Collateral in the form of Substitution Assets, Assets plus (iiib) all amounts standing to the balance of the CBC Transaction Accounts, excluding Swap Collateral and excluding amounts standing to the balance of the Construction AccountAmounts, will always be at least equal to 115110% of the aggregate Principal Amount Outstanding of the Covered Bonds; and Bonds at the end of such calendar month (dor with respect to item B as defined below, up to the date specified in item (B)) whether all as calculated on the immediately succeeding Calculation Date; (iii) the First Regulatory Current Balance Amount is will be at least equal to or greater than 105% of the aggregate Principal Amount Outstanding of the Covered Bonds%, or such other percentage as may be required from time to time under the CB Regulations; and (e) whether the Second Regulatory Current Balance Amount is equal to or greater than 100% , of the aggregate Principal Amount Outstanding of the Covered BondsBonds at the end of such calendar month (or with respect to item B of the Amortisation Test, up to the date specified in item B) all as calculated on the immediately succeeding Calculation Date; and (iv) the Second Regulatory Current Balance Amount will be at least equal to 100%, or such other percentage as may be required form from time to time under the CB Regulations. , of the aggregate Principal Amount Outstanding of the Covered Bonds at the end of such calendar month (or with respect to item B as defined below, up to the date specified in item B) all as calculated on the immediately succeeding Calculation Date (the "Amortisation Test"). 4.2 The Asset Monitor CBC (or the Administrator on its behalf) shall, on each Calculation Date following the service of a Notice to Pay, conduct the Amortisation Test. 4.3 If on any Calculation Date following the service of a Notice to Pay the Amortisation Test is not required to test met per the arithmetic accuracy of α, β, the Current Balance, the Indexed Valuation for each Mortgage Receivable nor the accuracy end of the Asset Percentage previous calendar month (such failure to meet the Amortisation Test on the next succeeding Calculation Date being a "Breach of the Amortisation Test" on such Calculation Date), then the CBC (or the Administrator on its behalf) shall immediately notify the Security Trustee thereof in writing, and the LTV Cut-Off PercentageSecurity Trustee will be entitled to serve a Breach of Amortisation Test Notice on the Issuer and the CBC.

Amortisation Test. Subject to Clauses 3.4 12.1 For so long as the Covered Bonds remain outstanding, the LLP and 3.6 and after each Member (other than the Liquidation Member) shall procure that on each Calculation Date following the service of a Notice to Pay, Pay on the Asset Monitor shall by no later than ten LLP (10) Business Days following but prior to the receipt service of an LLP Acceleration Notice on the LLP and/or the commencement of winding-up proceedings against the LLP and/or the realisation of the relevant information to be provided to it pursuant to Clause 4Security), test the arithmetic accuracy of the calculations performed by the CBC (or the Administrator on its behalf) in relation to the Amortisation Test on each Calculation Date, with a view to confirmation of the accuracy or otherwise of such calculations. In this respect, the Asset Monitor shall be provided with figures for the items listed in Clause 4.2 and shall test that (a) A, B, C and Z and the Amortisation Test Aggregate Asset Loan Amount have been calculated (as defined below) will be in accordance with Schedule 3 to the Asset Monitoring Agreement; and (b) whether or not the Amortisation Test Aggregate Asset Amount is equal to or greater than the aggregate Principal Amount Outstanding of the Covered Bonds; and (c) whether the Outstanding Principal Amount of all Mortgage Receivables, excluding any Defaulted Receivables, plus (ii) the Collateral Market Value of all Transferred Collateral in the form of Substitution Assets, plus (iii) all amounts standing to the balance of the CBC Transaction Accounts, excluding Swap Collateral and excluding amounts standing to the balance of the Construction Account, will always be an amount at least equal to 115% the Sterling Equivalent of the aggregate Principal Amount Outstanding of the Covered BondsBonds as calculated on the relevant Calculation Date (the Amortisation Test). 12.2 The Amortisation Test Aggregate Loan Amount will be calculated on each Calculation Date as follows: A  B C Y  Z where: A = the aggregate Amortisation Test Outstanding Principal Balance of each Loan in the Portfolio, which shall be the lower of (a) the actual Outstanding Principal Balance of the relevant Loan as calculated on the relevant Calculation Date multiplied by M and (b) 100% of the Indexed Valuation multiplied by M, (where for all Loans that are not Defaulted Loans, M = 1 and for all Loans that are Defaulted Loans, M = 0.7); B = the sum of the amount of any cash standing to the credit of the GIC Account and the principal amount of any Authorised Investments (excluding any Revenue Receipts received in the immediately preceding Calculation Period); C = the aggregate outstanding principal balance of any Substitution Assets; Y = an amount equal to the Supplemental Liquidity Reserve Amount; and Z = the weighted average remaining maturity of all Covered Bonds then outstanding (dexpressed in years) whether multiplied by the First Regulatory Current Balance Amount is equal to or greater than 105% Sterling Equivalent of the aggregate Principal Amount Outstanding of the Covered BondsBonds multiplied by the Negative Carry Factor. 12.3 If, or such other percentage as may be required from time on any Calculation Date following the service of a Notice to time under Pay on the CB Regulations; and (e) whether LLP, the Second Regulatory Current Balance Amortisation Test Aggregate Loan Amount is equal to or greater less than 100% the Sterling Equivalent of the aggregate Principal Amount Outstanding of the Covered BondsBonds as calculated on the relevant Calculation Date, or such other percentage as may then the Amortisation Test shall be required form time deemed to time under the CB Regulationsbe breached and an LLP Event of Default shall occur. The Asset Monitor is not required to test LLP (or the arithmetic accuracy of αCash Manager on its behalf) shall immediately notify the Members and, βwhilst the Covered Bonds are outstanding, the Current BalanceSecurity Trustee and the Bond Trustee, the Indexed Valuation for each Mortgage Receivable nor the accuracy of any breach of the Asset Percentage and the LTV Cut-Off PercentageAmortisation Test.