Statements to Certificateholders; Tax Returns Clause Samples
The "Statements to Certificateholders; Tax Returns" clause requires the issuer or trustee to provide regular financial statements and relevant tax information to certificateholders. Typically, this involves sending periodic reports detailing distributions, account balances, and any other pertinent financial activity, as well as preparing and delivering tax documents such as IRS Forms 1099 or K-1. The core function of this clause is to ensure that certificateholders have the necessary information to monitor their investment and fulfill their tax reporting obligations, thereby promoting transparency and compliance.
Statements to Certificateholders; Tax Returns. (a) With each distribution from the Certificate Account to the Certificateholders made on a Distribution Date, the Servicer shall provide to the Certificate Insurer, the Depositor, and to the Trustee, with a copy to each Rating Agency, for the Trustee to forward to each Certificateholder of record a statement (prepared by the Servicer) substantially in the form of Exhibit E hereto setting forth at least the following information as to the Certificates to the extent applicable:
(i) the amount of such distribution allocable to principal of the Class A Certificates and the Class B Certificates, respectively;
(ii) the amount of such distribution allocable to interest on the Class A Certificates and the Class B Certificates, respectively;
(iii) the number of Receivables, the weighted average APR of the Receivables, the weighted average maturity of the Receivables, the Pool Balance, the weighted average Monthly Dealer Participation Fee, the Class A Pool Factor and the Class B Pool Factor as of the close of business on the last day of the preceding Collection Period;
(iv) the Class A Certificate Balance and the Class B Certificate Balance as of the close of business on the last day of the preceding Collection Period, after giving effect to payments allocated to principal reported under clause (i) above;
(v) the amount of the Monthly Dealer Participation Fee Distributable Amount paid to LBAC, the amount of the Servicing Fee paid to the Servicer and the amount of the Back-up Servicer Fee paid to the Back-up Servicer with respect to the related Collection Period, the Class A Percentage of the sum of the Servicing Fee and the Back-up Servicer Fee, the Class B Percentage of the 69 sum of the Servicing Fee and the Back-up Servicer Fee, the amount of any unpaid Servicing Fees and any unpaid Back-up Servicer Fees and the change in such amounts from the prior Distribution Date;
(vi) The amount of the Class B Additional Interest Carryover Shortfall, if applicable, on such Distribution Date and the Class B Undistributed Principal Amount, if applicable, on such Distribution Date, and the change in such amounts from the prior Distribution Date;
(vii) the Class B Additional Interest Distributable Amount;
(viii) the amount of the Class A Interest Carryover Shortfall, if applicable, on such Distribution Date and the Class A Principal Carryover Shortfall, if applicable, on such Distribution Date, and the change in such amounts from the prior Distribution Date;
(ix) the amount of ...
Statements to Certificateholders; Tax Returns. With each distribution from the Certificate Account to the Certificateholders made on a Distribution Date, the Trustee (to the extent that the Servicer has provided to the Trustee the necessary information pursuant to the terms hereof) shall prepare and forward to each Certificateholder of record, Greenwich Capital Markets, Inc. and the Rating Agency a statement substantially in the form of Exhibit D hereto setting forth at a minimum the following information as to each Class of Certificates to the extent applicable:
(a) Servicer Collections:
(i) the Available Interest Distribution Amount;
(ii) the Available Principal Distribution Amount; and
(iii) the Total Available Distribution Amount.
Statements to Certificateholders; Tax Returns. With each distribution from the Certificate Account to the Certificateholders made on a Distribution Date, the Trustee shall provide to the Backup Servicer, the Seller and each Certificateholder of record, based on the Monthly Servicing Certificate provided to the Backup Servicer and the Trustee by the Servicer in the form of Schedule B to the Servicing Agreement, a statement substantially in the form of Exhibit C to this Agreement setting forth at least the following information with respect to such Distribution Date and the related Collection Period, to the extent applicable:
Statements to Certificateholders; Tax Returns. (a) On each Distribution Date, the Trustee shall include with each distribution to each Certificateholder and shall forward by mail to the Rating Agency, a statement based solely on the information in the Servicing Certificate delivered on the related Determination Date pursuant to SECTION 3.9, setting forth the following information, among other things, with respect to the Collection Period relating to such Distribution Date: (i) the amount of such distribution allocable to principal of the Class A Certificates, the Class B Certificates and the Class C Certificates, respectively;