Common use of Failure to Report Clause in Contracts

Failure to Report. If there is a failure at any time by the Collection Agent to report and quantify the amount of Collections received or the amounts of any Advance Payments and/or the funds standing to the credit of the Agent Account in respect of any Settlement Period such that the amounts due by the Seller and the Buyer pursuant to Clauses 4(B) and (C) cannot be accurately determined (in the Operating Agent's reasonable opinion), there will fall due from the Seller to the Buyer on the Settlement Date at the end of such Settlement Period (on account of repayment of Advance Payments) an amount equal to the anticipated Collections in respect of such Settlement Period as determined by the Operating Agent, acting reasonably. For the purposes of this Clause 12(D), it shall be considered reasonable for the Operating Agent to anticipate that all Collections due during such Settlement Period were received by the Collection Agent during such Settlement Period. The Buyer shall deposit such amount into the Temporary Adjustment Account. Upon the Operating Agent becoming satisfied that a proper assessment of the amounts due by way of repayment of Advance Payments has been made, there shall be an adjustment in accordance with such assessment, by way of repayment from the Buyer or (provided no Early Amortisation Event has occurred) by way of further payment by the Seller, as required, and such adjusted sum shall be treated for all purposes under this Agreement as the Collections received during such Settlement Period. Provided that such failure by the Collection Agent does not last longer than two consecutive Settlement Periods and the provisions of this Clause 12(D) are complied with, such failure shall not by itself constitute an Early Amortisation Event.

Failure to Report. If there is a failure at any time by the Collection Agent a Servicer to report and quantify the amount of Collections received or the amounts of any Advance Payments and/or the funds standing to the credit of the Agent Seller Collection Account, Buyer Collection Account or Buyer Account in respect of any Settlement Period such that the amounts due by the any Seller and the Buyer pursuant to Clauses 4(B), 4(C) and (C12(C) cannot be accurately determined (in the Operating Agent's reasonable opinion), there will fall due from the relevant Seller to the Buyer on the Settlement Date at the end of such Settlement Period (on account of repayment of Advance Payments) an amount equal to the anticipated Collections in respect of such Settlement Period as determined by the Operating Agent, acting reasonably. For the purposes of this Clause 12(D), it shall be considered reasonable for the Operating Agent to anticipate that all Collections due during such Settlement Period were received by the Collection Agent relevant Servicer during such Settlement Period. The Buyer shall deposit such amount into the Temporary Adjustment Account. Upon the Operating Agent becoming satisfied that a proper assessment of the amounts due by way of repayment of Advance Payments has been made, there shall be an adjustment in accordance with such assessment, by way of repayment from the Buyer or (provided no Early Amortisation Event the Termination Date has occurred) or by way of further payment by the relevant Seller, as required, and such adjusted sum shall be treated for all purposes under this Agreement as the Collections received during such Settlement Period. Provided that such failure by the Collection Agent relevant Servicer does not last longer than two consecutive Settlement Periods and the provisions of this Clause 12(D) are complied with, such failure shall not by itself constitute an Early Amortisation Event.

Failure to Report. If there is a failure at any time by the Collection Agent to report and quantify the amount of Collections received or the amounts of any Advance Payments and/or the funds standing to the credit of the Agent any Buyer Account in respect of any Settlement Period such that the amounts due by the any Seller and the Buyer pursuant to Clauses 4(B) and (C) cannot be accurately determined (in the Operating Agent's reasonable opinion), there will fall due from the Seller Sellers (on a joint and several basis) to the Buyer on the Settlement Date at the end of such Settlement Period (on account of repayment of Advance Payments) an amount equal to the anticipated Collections in respect of such Settlement Period as determined by the Operating Agent, acting reasonably. For the purposes of this Clause 12(D), it shall be considered reasonable for the Operating Agent to anticipate that all Collections due during such Settlement Period were received by the Collection Agent during such Settlement Period. The Buyer shall deposit such amount into the Temporary Adjustment Account. Upon the Operating Agent becoming satisfied that a proper assessment of the amounts due by way of repayment of Advance Payments has been made, there shall be an adjustment in accordance with such assessment, by way of repayment from the Buyer or (provided no Early Amortisation Event has occurred) by way of further payment by the SellerSellers, as required, and such adjusted sum shall be treated for all purposes under this Agreement as the Collections received during such Settlement Period. Provided that such failure by the Collection Agent does not last longer than two consecutive Settlement Periods and the provisions of this Clause 12(D) are complied with, such failure shall not by itself constitute an Early Amortisation Event.

Failure to Report. If there is a failure at any time by the Collection Agent a Servicer to report and quantify the amount of Collections received or the amounts of any Advance Payments and/or the funds standing to the credit of the Agent Collection Account, Dedicated Collection Account or Buyer Account in respect of any Settlement Period such that the amounts due by the any Seller and the Buyer pursuant to Clauses 4(B), 4(C) and (C12(C) cannot be accurately determined (in the Operating Agent's reasonable opinion), there will fall due from the relevant Seller to the Buyer on the Settlement Date at the end of such Settlement Period (on account of repayment of Advance Payments) an amount equal to the anticipated Collections in respect of such Settlement Period as determined by the Operating Agent, acting reasonably. For the purposes of this Clause 12(D), it shall be considered reasonable for the Operating Agent to anticipate that all Collections due during such Settlement Period were received by the Collection Agent relevant Servicer during such Settlement Period. The Buyer shall deposit such amount into the Temporary Adjustment Account. Upon the Operating Agent becoming satisfied that a proper assessment of the amounts due by way of repayment of Advance Payments has been made, there shall be an adjustment in accordance with such assessment, by way of repayment from the Buyer or (provided no Early Amortisation Event the Termination Date has not occurred) or by way of further payment by the relevant Seller, as required, and such adjusted sum shall be treated for all purposes under this Agreement Deed as the Collections received during such Settlement Period. Provided that such failure by the Collection Agent relevant Servicer does not last longer than two consecutive Settlement Periods and the provisions of this Clause 12(D) are complied with, such failure shall not by itself constitute an Early Amortisation Event.

Failure to Report. If there is a failure at any time by the Collection Agent Servicer to report and quantify the amount of Collections received or the amounts of any Advance Payments and/or the funds standing to the credit of the Agent Onward Buyer Account in respect of any Settlement Period such that the amounts due by the Seller Exide Funding and the Buyer pursuant to Clauses 4(B) and (C) cannot be accurately determined (in the Operating Agent's reasonable opinion), there will fall due from the Seller Exide Funding to the Buyer on the Settlement Date at the end of such Settlement Period (on account of repayment of Advance Payments) an amount equal to the anticipated Collections in respect of such Settlement Period as determined by the Operating Agent, acting reasonably. For the purposes purpose of this Clause 12(D12(C), it shall be considered reasonable for the Operating Agent to anticipate that all Collections due during such Settlement Period were received by the Collection Agent appropriate Servicer during such Settlement Period. The Buyer Exide Funding shall deposit such amount into the Temporary Adjustment AccountAccount for the benefit of the Buyer. Upon the Operating Agent becoming satisfied that a proper assessment of the amounts due by way of repayment of Advance Payments has been made, there shall be an adjustment in accordance with such assessment, by way of repayment from the Buyer Exide Funding or (provided no Early Amortisation Event has occurred) by way of further payment by the SellerBuyer, as required, and such adjusted sum shall be treated for all purposes under this Agreement as the Collections received during such Settlement Period. Provided that such failure by the Collection Agent does not last longer than two consecutive Settlement Periods and the provisions of this Clause 12(D) are complied with, such failure shall not by itself constitute an Early Amortisation Event.Settlement

Failure to Report. If there is a failure at any time by the Collection Agent to report and quantify the amount of Collections received or the amounts of any Advance Payments and/or the funds standing to the credit of the Agent Buyer Account in respect of any Settlement Period such that the amounts due by the Seller and the Buyer pursuant to Clauses 4(B) and (C) cannot be accurately determined (in the Operating Agent's reasonable opinion), there will fall due from the Seller to the Buyer on the Settlement Date at the end of such Settlement Period (on account of repayment of Advance Payments) an amount equal to the anticipated Collections in respect of such Settlement Period as determined by the Operating Agent, acting reasonably. For the purposes of this Clause 12(D), it shall be considered reasonable for the Operating Agent to anticipate that all Collections due during such Settlement Period were received by the Collection Agent during such Settlement Period. The Buyer shall deposit such amount into the Temporary Adjustment Account. Upon the Operating Agent becoming satisfied that a proper assessment of the amounts due by way of repayment of Advance Payments has been made, there shall be an adjustment in accordance with such assessment, by way of repayment from the Buyer or (provided no Early Amortisation Event has occurred) by way of further payment by the Seller, as required, and such adjusted sum shall be treated for all purposes under this Agreement as the Collections received during such Settlement Period. Provided that such failure by the Collection Agent does not last longer than two consecutive Settlement Periods and the provisions of this Clause 12(D) are complied with, such failure shall not by itself constitute an Early Amortisation Event.

Failure to Report. If there is a failure at any time by the Collection Agent Servicer to report and quantify the amount of Collections received or the amounts of any Advance Payments and/or the funds standing to the credit of the Agent Buyer Collection Account or Buyer Account in respect of any Settlement Period such that the amounts due by the Seller and the Buyer pursuant to Clauses 4(B), 4(C) and (C12(D) cannot be accurately determined (in the Operating Agent's reasonable opinion), there will fall due from the Seller to the Buyer on the Settlement Date at the end of such Settlement Period (on account of repayment of Advance Payments) an amount equal to the anticipated Collections in respect of such Settlement Period as determined by the Operating Agent, acting reasonably. For the purposes of this Clause 12(D12(F), it shall be considered reasonable for the Operating Agent to anticipate that all Collections due during such Settlement Period were received by the Collection Agent Servicer during such Settlement Period. The Buyer shall deposit such amount into the Temporary Adjustment Account. Upon the Operating Agent becoming satisfied that a proper assessment of the amounts due by way of repayment of Advance Payments has been made, there shall be an adjustment in accordance with such assessment, by way of repayment from the Buyer or (provided no Early Amortisation Event the Termination Date has occurred) or by way of further payment by the Seller, as required, and such adjusted sum shall be treated for all purposes under this Agreement as the Collections received during such Settlement Period. Provided that such failure by the Collection Agent Servicer does not last longer than two consecutive Settlement Periods and the provisions of this Clause 12(D12(F) are complied with, such failure shall not by itself constitute an Early Amortisation Event.