Common use of Pool Asset Administration Clause in Contracts

Pool Asset Administration. 1122(d)(4)(i) Collateral or security on pool assets is maintained as required by the transaction agreements or related pool asset documents. Applicable; assessment below. 1122(d)(4)(ii) Pool assets and related documents are safeguarded as required by the transaction agreements. Applicable; assessment below. 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Not applicable; no removals or substitutions of Securitization Property are contemplated or allowed under the transaction documents. 1122(d)(4)(iv) Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the servicer’s obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset agreements. Applicable; assessment below.

Pool Asset Administration. 1122(d)(4)(i) Collateral or security on pool assets is maintained as required by the transaction agreements or related pool asset documents. Applicable; assessment below. 1122(d)(4)(ii) Pool assets and related documents are safeguarded as required by the transaction agreements. Applicable; assessment below. 1122(d)(4)(iii) Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. Not applicable; no removals or substitutions of Securitization Property are contemplated or allowed under the transaction documents. 1122(d)(4)(iv) Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the servicer’s obligor records maintained no more than two business days Business Days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset agreements. Applicable; assessment below.