Common use of Distribution Date Statement Clause in Contracts

Distribution Date Statement. No later than 2:00 p.m., New York City time, on each Servicer Report Date, the Servicer shall deliver to the Administrative/Collateral Agent and the Backup Servicer a Distribution Date Statement executed by a Responsible Officer of the Servicer. The parties hereto acknowledge that the basis for calculating Yield on the Advances may change between the date the Servicer delivers a Distribution Date Statement and the related Distribution Date and that the amount the Servicer sets forth in a Distribution Date Statement as Yield accrued on the Advances as of the related Distribution Date is its good faith estimate of such Yield; in the event of any change in calculating Yield during such period of time, the parties agree to use reasonable efforts to revise the Distribution Date Statement on or prior to such Distribution Date to reflect such changes, provided that if such revisions are not made by such time, then appropriate corrections shall be made on the next Distribution Date.

Distribution Date Statement. No later than 2:00 p.m., New York City time, on each Servicer Report Determination Date, the Servicer shall deliver to the Administrative/Administrative Agent, the Collateral Agent and the Backup Servicer a Distribution Date Statement executed by a Responsible Officer of the Servicer. The parties hereto acknowledge that the basis for calculating Yield on the Advances may change between the date the Servicer delivers a Distribution Date Statement and the related Distribution Date and that the amount the Servicer sets forth in a Distribution Date Statement as Yield accrued on the Advances as of the related Distribution Date is its good faith estimate of such Yield; in the event of any change in calculating Yield during such period of time, the parties agree to use reasonable efforts to revise the Distribution Date Statement on or prior to such Distribution Date to reflect such changes, provided that if such revisions are not made by such time, then appropriate corrections shall be made on the next Distribution Date.