Common use of Remittance Reports; P&I Advances Clause in Contracts

Remittance Reports; P&I Advances. (a) On the second Business Day prior to the related Distribution Date, the Master Servicer shall deliver to the Trust Administrator, the Paying Agent and the Trustee by telecopy (or by such other means as the Master Servicer, the Paying Agent and the Trust Administrator and the Trustee may agree from time to time) a Remittance Report with respect to the related Distribution Date. Such Remittance Report will include (i) the amount of P&I Advances to be made by the Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator or the Paying Agent may reasonably require to perform the calculations necessary for the Paying Agent to make the distributions contemplated by Section 4.01 and for the Trust Administrator to prepare the statements to Certificateholders contemplated by Section 4.02; provided, however, that if the Master Servicer is not the Trust Administrator, the Master Servicer will forward to the successor Trust Administrator the information set forth in clause (i) above on the next Business Day following the latest related Determination Date and the information set forth in clause (ii) above on the fifth Business Day following the last day of the related calendar month. Neither the Trustee, the Paying Agent nor the Trust Administrator shall be responsible to recompute, recalculate or verify any information provided to it by the Master Servicer.

Remittance Reports; P&I Advances. (a) On the second Business Day prior to the related Distribution Date, the Master Servicer shall deliver to the Trust Administrator, the Paying Agent Agent, the Credit Risk Manager and the Trustee by telecopy (or by such other means as the Master Servicer, the Paying Agent and the Trust Administrator and the Trustee may agree from time to time) a Remittance Report with respect to the related Distribution Date. Such Remittance Report will include (i) the amount of P&I Advances to be made by the Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator or the Paying Agent may reasonably require to perform the calculations necessary for the Paying Agent to make the distributions contemplated by Section 4.01 and for the Trust Administrator to prepare the statements to Certificateholders contemplated by Section 4.02; provided, however, that if the Master Servicer is not the Trust Administrator, the Master Servicer will forward to the successor Trust Administrator the information set forth in clause (i) above on the next Business Day following the latest related Determination Date and the information set forth in clause (ii) above on the fifth Business Day following the last day of the related calendar month. Neither the Trustee, the Paying Agent nor the Trust Administrator shall be responsible to recompute, recalculate or verify any information provided to it by the Master Servicer.

Remittance Reports; P&I Advances. (a) On the second Business Day prior to following the related Distribution Determination Date, the Master Servicer shall deliver to the Trust Administrator, the Paying Agent and the Trustee Administrator by telecopy (or by such other means as the Master Servicer, the Paying Agent and the Trust Administrator and the Trustee may agree from time to time) a Remittance Report with respect to the related Distribution Date. Such Remittance Report will include (i) the amount of P&I Advances to be made by the Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator or the Paying Agent may reasonably require to perform the calculations necessary for the Paying Agent to make the distributions contemplated by Section 4.01 and for the Trust Administrator to prepare the statements to Certificateholders contemplated by Section 4.02; provided, however, that if the Master Servicer is not the Trust Administrator, the Master Servicer will forward to the successor Trust Administrator trust administrator the information set forth in clause (i) above on the next Business Day following the latest related Determination Date and the information set forth in clause (ii) above on the fifth Business Day following the last day of the related calendar month. Neither the Trustee, the Paying Agent nor The Trustee and the Trust Administrator shall not be responsible to recompute, recalculate or verify any information provided to it by the Master Servicer.

Remittance Reports; P&I Advances. (a) On By the second third Business Day prior to the related Distribution following each Determination Date, the Master Servicer shall deliver to the Trust Administrator, the Paying Agent and the Trustee Administrator by telecopy (or by such other means as the Master Servicer, the Paying Agent and the Trust Administrator and the Trustee may agree from time to time) a Remittance Report with respect to the related Distribution Date. Such Remittance Report will include (i) the amount of P&I Advances to be made by the Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator or the Paying Agent may reasonably require to perform the calculations necessary for the Paying Agent Trust Administrator to make the distributions contemplated by Section 4.01 and for the Trust Administrator to prepare the statements to Certificateholders contemplated by Section 4.02; provided, however, that if the Master . The Servicer is not shall make a good faith effort to deliver any such additional information to the Trust AdministratorAdministrator within two Business Days of any such request, provided that in no event shall the Master Servicer will forward be required to provide any such additional information to the successor Trust Administrator to the information set forth in clause (i) above on extent the next Trust Administrator makes such request prior to the third Business Day following the latest related Determination Date and the information set forth in clause (ii) above on the fifth Business Day following the last day of the related calendar monthDate. Neither the Trustee, the Paying Agent Trustee nor the Trust Administrator shall be responsible to recompute, recalculate or verify any information provided to it by the Master Servicer.

Remittance Reports; P&I Advances. (a) On the second Business Day prior to the related Distribution Date, the Master Servicer shall deliver to the Trust Administrator, the Paying Agent and the Trustee by telecopy (or by such other means as the Master Servicer, the Paying Agent and the Trust Administrator and the Trustee may agree from time to time) a Remittance Report with respect to the related Distribution Date. Such Remittance Report will include (i) the amount of P&I Advances to be made by the Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator or the Paying Agent may reasonably require to perform the calculations necessary for the Paying Agent to make the distributions contemplated by Section 4.01 and for the Trust Administrator to prepare the statements to Certificateholders contemplated by Section 4.02; provided, however, that if the Master Servicer is not the Trust Administrator, the Master Servicer will forward to the successor Trust Administrator the information set forth in clause (i) above on the next Business Day following the latest related Determination Date and the information set forth in clause (ii) above on the fifth Business Day following the last day of the related calendar month. Neither the Trustee, the Paying Agent nor the Trust Administrator shall be responsible to recompute, recalculate or verify any information provided to it by the Master Servicer.

Remittance Reports; P&I Advances. (a) On By the second Business Day prior to the related Distribution following each Determination Date, the Master each Servicer shall deliver to the Trust Administrator, the Paying Agent and the Trustee Administrator by telecopy (or by such other means as the Master related Servicer, the Paying Agent and the Trust Administrator and the Trustee may agree from time to time) a Remittance Report with respect to the related Distribution Date. Such Remittance Report will include (i) the amount of P&I Advances to be made by the Master related Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator or the Paying Agent may reasonably require to perform the calculations necessary for the Paying Agent Trust Administrator to make the distributions contemplated by Section 4.01 and for the Trust Administrator to prepare the statements to Certificateholders contemplated by Section 4.02; provided, however, that if the Master . The Each Servicer is not shall make a good faith effort to deliver any such additional information to the Trust AdministratorAdministrator within two Business Days of any such request, the Master provided that in no event shall any Servicer will forward be required to provide any such additional information to the successor Trust Administrator to the information set forth in clause (i) above on extent the next Trust Administrator makes such request prior to second Business Day following the latest related Determination Date and the information set forth in clause (ii) above on the fifth Business Day following the last day of the related calendar monthDate. Neither the Trustee, the Paying Agent Trustee nor the Trust Administrator shall be responsible to recompute, recalculate or verify any information provided to it by the Master related Servicer.

Remittance Reports; P&I Advances. (a) On No later than the second eighteenth day of each month, or if such day is not a Business Day, the Business Day prior to the related Distribution Datefollowing such day, the Master Servicer shall deliver to the Trust Administrator, the Paying Agent and the Trustee by telecopy electronically (or by such other means as the Master Servicer, the Paying Agent and the Trust Administrator Servicer and the Trustee may agree from time to time) a Remittance Report with respect to each Mortgage Loan for the related Distribution Dateprior calendar month. Such Remittance Report will include In addition, no later than the eighteenth day of each month, or if such day is not a Business Day, the Business Day following such day, the Servicer shall deliver to the Trustee delinquency information with respect to each Mortgage Loan and P&I Advances including (i) the amount of P&I Advances and Servicing Advances to be made by the Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances and Servicing Advances outstanding after giving effect to such P&I Advances and Servicing Advances, as applicable, and the aggregate amount of Nonrecoverable P&I Advances and Servicing Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator or the Paying Agent Trustee may reasonably require to perform the calculations necessary for the Paying Agent to make the distributions contemplated by Section 4.01 and for the Trust Administrator to prepare the statements to Certificateholders contemplated by Section 4.02; provided, however, that if the Master Servicer is . The Trustee shall not the Trust Administrator, the Master Servicer will forward to the successor Trust Administrator the information set forth in clause (i) above on the next Business Day following the latest related Determination Date and the information set forth in clause (ii) above on the fifth Business Day following the last day of the related calendar month. Neither the Trustee, the Paying Agent nor the Trust Administrator shall be responsible to recompute, recalculate or verify any information provided to it by the Master Servicer.

Remittance Reports; P&I Advances. (a) On the second Business Day prior to the related Distribution following each Determination Date, but in no event later than the Master earlier of (i) such date which would allow the Trustee to submit a claim to CIFG so as to allow a timely payment by CIFG under the Class A2D Policy and (ii) the 20th day of each month or prior if not a Business Day, the Servicer shall deliver to the Trust Administrator, the Paying Agent and the Trustee by telecopy electronically (or by such other means as the Master Servicer, the Paying Agent and the Trust Administrator Servicer and the Trustee may agree from time to time) a Remittance Report with respect to each Mortgage Loan for the related prior calendar month. In addition, no later than four Business Days prior to each Distribution Date. Such Remittance Report will include , the Servicer shall deliver to the Trustee delinquency information with respect to each Mortgage Loan and P&I Advances including (i) the amount of P&I Advances and Servicing Advances to be made by the Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances and Servicing Advances outstanding after giving effect to such P&I Advances and Servicing Advances, as applicable, and the aggregate amount of Nonrecoverable P&I Advances and Servicing Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator or the Paying Agent Trustee may reasonably require to perform the calculations necessary for the Paying Agent to make the distributions contemplated by Section 4.01 and for the Trust Administrator to prepare the statements to Certificateholders and CIFG contemplated by Section 4.02; provided, however, that if the Master Servicer is . The Trustee shall not the Trust Administrator, the Master Servicer will forward to the successor Trust Administrator the information set forth in clause (i) above on the next Business Day following the latest related Determination Date and the information set forth in clause (ii) above on the fifth Business Day following the last day of the related calendar month. Neither the Trustee, the Paying Agent nor the Trust Administrator shall be responsible to recompute, recalculate or verify any information provided to it by the Master Servicer.

Remittance Reports; P&I Advances. (a) On the second Business Day prior to the related Distribution Date, the Master Servicer shall deliver to the Trust Administrator, the Certificate Insurer, the Paying Agent and the Trustee by telecopy (or by such other means as the Master Servicer, the Paying Agent and the Trust Administrator and the Trustee may agree from time to time) a Remittance Report with respect to the related Distribution Date. Such Remittance Report will include (i) the amount of P&I Advances to be made by the Master Servicer in respect of the related Distribution Date, the aggregate amount of P&I Advances outstanding after giving effect to such P&I Advances, and the aggregate amount of Nonrecoverable P&I Advances in respect of such Distribution Date and (ii) such other information with respect to the Mortgage Loans as the Trust Administrator or the Paying Agent may reasonably require to perform the calculations necessary for the Paying Agent to make the distributions contemplated by Section 4.01 and for the Trust Administrator to prepare the statements to Certificateholders contemplated by Section 4.02; provided, however, that if the Master Servicer is not the Trust Administrator, the Master Servicer will forward to the successor Trust Administrator the information set forth in clause (i) above on the next Business Day following the latest related Determination Date and the information set forth in clause (ii) above on the fifth Business Day following the last day of the related calendar month. Neither the Trustee, the Paying Agent nor the Trust Administrator shall be responsible to recompute, recalculate or verify any information provided to it by the Master Servicer.