Automated Servicing Systems and Statements to Purchaser Clause Samples
Automated Servicing Systems and Statements to Purchaser. The Company shall setup, format, maintain and transmit to the Purchaser the Company's Servicing File and other electronic data storage and transmission systems related to the Mortgage Loans (collectively, the "Servicing Systems") in accordance with the guidelines and requirements set forth in Exhibit J attached hereto (the "Servicer Requirements"), and the Company shall cooperate with the Purchaser to receive data from the Purchaser that is to be incorporated in the Servicing Systems in accordance with the Servicer Requirements. Not later than the third (3rd) Business Day of each month, the Company shall furnish to the Purchaser, with respect to the preceding month, a monthly collection report, a monthly paid in full report that summarizes Mortgage Loans paid in full during the Due Period and a monthly trial balance report that provides a trial balance as of the last day of the month preceding such Remittance Date in electronic format agreed upon by the Company and the Purchaser. Not later than the fifth (5th) Business Day of each month, the Company shall furnish to the Purchaser a delinquency report and a monthly remittance advice, including the information set forth in Exhibit F, in both a physical form and a mutually agreeable electronic format, as to the remittance on such Remittance Date and as to the period ending on the last day of the month preceding such Remittance Date.
Automated Servicing Systems and Statements to Purchaser. The Servicer shall setup, format, maintain and transmit to the Purchaser the Servicer's servicing files and other electronic data storage and transmission systems related to the Mortgage Loans (collectively, the "Servicing Systems") in accordance with the guidelines and requirements set forth in Exhibit 6.02 attached hereto (the "Servicer Requirements"), and the Servicer shall cooperate with the Purchaser to receive data from the Purchaser that is to be incorporated in the Servicing Systems in accordance with this Agreement. The Purchaser shall reimburse the Servicer for any reasonable out-of-pocket expenses incurred in connection with the Servicer's implementation of the Servicing Systems. Not later than the first (1st) Business Day of each month, the Servicer shall furnish to the Purchaser, with respect to the preceding month, a monthly collection report, a monthly paid in full report that summarizes Mortgage Loans paid in full during the related Principal Prepayment and a monthly trial balance report that provides a trial balance as of the last day of the month preceding such Remittance Date in electronic format agreed upon by the Servicer and the Purchaser. Not later than the fifth (5th) Business Day of each month, the Servicer shall furnish to the Purchaser a delinquency report and a monthly remittance advice, including the information set forth in Exhibit 6.02, in both a physical form (including via website) and a mutually agreeable electronic format as to the remittance on such Remittance Date and as to the period ending on the last day of the month preceding such Remittance Date. On or before the 5th Business Day following the Accounting Cut-off Date of each month during the term hereof, the Servicer shall deliver to the Purchaser monthly accounting reports in the form of Exhibits 6.02(a) through 6.02(i) attached hereto with respect to the most recently ended Due Period. Such monthly accounting reports shall include information as to the aggregate Unpaid Principal Balance of all Mortgage Loans, the scheduled amortization of all Mortgage Loans and the amount of any Principal Prepayments as of the most recent Accounting Cut-off Date. Such monthly reports shall be available by the Servicer for the Purchaser on Servicer's secured web-site. The Servicer shall provide training, secured access and password(s) to the Purchaser on the operation of the website. In addition to the foregoing, utilizing resources reasonably available to the Servicer and to the ...